Phạm Mạnh Cường là một doanh nhân và nhà đầu tư Tiền mã hoá.
Tác giả đã từng tiên phong giảng dạy Blockchain ở Trường Đại học Kinh tế - Luật, Đại học Quốc gia Hồ Chí Minh. Hiện tại đang là Giám đốc công ty Wischain và Giảng viên công nghệ Blockchain tại Đại học Hutech, Việt Nam.
Tác giả đã có bằng Thạc sĩ Khoa học máy tính từ năm 2011 tại Đại học Bách Khoa Hồ Chí Minh.
Tính đến nay tác giả đã có kinh nghiệm 7 năm giảng dạy cho sinh viên về công nghệ Blockchain và 8 năm đầu tư trong lĩnh vực Tiền mã hoá từ 2016. Tác giả đã tham gia diễn giả tại hàng trăm hội thảo chất lượng và hiện sở hữu hàng nghìn bài viết tổng hợp, nhận định và chỉnh sửa về Tiền mã hoá và Tiền điện tử chất lượng trên Website và ở nhiều kênh khác.
Genesis Trading has moved billions of dollars in recent days, potentially to manage creditor repayments as part of its financial restructuring efforts.
The crypto lender, which is navigating bankruptcy, has reportedly transferred substantial amounts of Bitcoin (BTC) and Ethereum (ETH) in recent days.
Wallets associated with Genesis have reportedly moved 32,256 BTC, valued at approximately $2.12 billion, and 256,775 ETH, worth about $838 million, over the past three days. These transactions included large transfers of 16,600 BTC ($1.1 billion) and 166,300 ETH ($521.1 million) within a single hour, suggesting the assets are likely being redistributed to satisfy creditor claims.
Genesis Trading has transferred 32,256 $BTC($2.12B) and 256,775 $ETH($838M) to multiple addresses in the past 3 days and may be undergoing bankruptcy proceedings to repay debts.
This activity is part of Genesis Trading’s efforts to manage creditor repayments amid its ongoing financial restructuring.
The genesis of all the Genesis Trading troubles
Genesis Trading’s legal and financial troubles started with the collapse of the crypto exchange FTX in November 2022, which led to market contagion.
Genesis was heavily exposed, mainly through its derivatives business, which lost access to $175 million worth of crypto assets locked in an FTX trading account. Consequently, Genesis halted withdrawals and filed for bankruptcy in January 2023.
In May 2023, Genesis reached a substantial $3 billion settlement with New York over allegations of defrauding 230,000 investors via its Earn program. In October 2023, a New York bankruptcy judge approved a $175 million settlement between Genesis and FTX, including the expulsion of multiple claims against Genesis.
The court authorized Genesis to distribute cash and crypto to its creditors, which might explain the movement over the last three days. The repayments should cover approximately 77% of the total claims’ value.
Genesis’s asset liquidations and settlements add to the growing list of supply shocks for the crypto market, reflecting broader instability in the sector.
With the recent sale of 50,000 BTC by the German government, distributions from bankrupt exchange Mt. Gox, and impending sales from the U.S. government’s BTC stash, the crypto market continues to face supply disruptions.
Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to advise Bitcoin ETF investments.
Morgan Stanley will now allow its financial advisors to offer Bitcoin (BTC) ETFs to eligible clients starting August 7, according to reporting by CNBC, making it the first major Wall Street bank to do so,
Morgan Stanley has nearly 1500 advisors who can now solicit clients to purchase shares of BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. This follows the SEC’s approval of 11 spot Bitcoin ETFs in January.
5 years ago I was talking to a Morgan Stanley financial advisor who was laughing at me about crypto. I told him the day would come when he was selling crypto and the only reason he wasn’t was because he didn’t have a way to get paid for it. Who’s laughing now? https://t.co/lmVFRIMJ7e
— Digital Asset Investor (@digitalassetbuy) August 2, 2024
Only clients with a net worth of at least $1.5 million, an aggressive risk tolerance, and a desire to make speculative investments are suitable for Bitcoin ETF solicitation. The investments are for taxable brokerage accounts, not retirement accounts.
Why does this matter?
This move allows financial advisors to offer Bitcoin ETFs to eligible clients, signaling broader retail Bitcoin adoption. It means more investors are gaining exposure to crypto, and Morgan Stanley is making Bitcoin more accessible to an affluent audience, boosting demand.
“15000 of the best compensated sales people in the world who will harvest the richest families and institutions in the world and put them into Bitcoin. I predict $3 trillion market cap inbound to Bitcoin in under 18 months!” posted investor Gary Cardone on X (fromerly Twitter) in reference to the news.
A spot crypto ETF tracks the price of a specific crypto and invests portfolio funds into that crypto. These funds are traded on public exchanges but generally track a particular crypto.
Like similar funds, crypto ETFs are on regular stock exchanges, and investors can keep them in their standard brokerage accounts. Bitcoin ETFs allow investors to gain exposure to Bitcoin without directly holding the crypto.
As Senator Lummis pushes for Bitcoin to stabilize the U.S. dollar, Moe Vela warns of the risks. Read on.
During the Bitcoin 2024 conference in Nashville on July 27, US Senator Cynthia Lummis proposed that the U.S. government consider Bitcoin (BTC) as a strategic reserve asset to stabilize the dollar’s value and counter inflation.
In a follow-up to her initial announcement, on July 31, Senator Lummis officially introduced the Bitcoin Strategic Reserve bill. This legislation aims to direct the U.S. government to establish a reserve fund specifically for Bitcoin, ensuring it is held securely across various geographic locations.
The plan includes the government purchasing Bitcoin over five years and holding these assets for at least 20 years with the sole purpose of reducing the national debt, which has surpassed $35 trillion as of August 1. Lummis suggests that this reserve can help cut the U.S. national debt by half by 2045.
At the same conference, Donald Trump and independent presidential candidate Robert F. Kennedy Jr. also supported the idea of a U.S. Bitcoin reserve.
Trump pledged not to sell the government’s Bitcoin holdings, while Kennedy advocated for a more aggressive approach, suggesting the purchase of 500 bitcoins daily until a reserve of 4 million bitcoins is accumulated.
Despite the political backing, Lummis acknowledges that her legislation is unlikely to pass before the 2024 elections. However, the rising political interest in Bitcoin signifies a shift from the previous stance of the government.
Let’s delve deeper into this bill, its potential implications, and the broader context of Bitcoin’s role in the US economy.
Decoding the bill
The “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024,” also known as the “BITCOIN Act of 2024,” outlines a detailed plan to integrate Bitcoin into the U.S. financial system.
A key component of the bill is the Bitcoin Purchase Program, which mandates the annual purchase of up to 200,000 Bitcoins over five years, totaling 1,000,000 Bitcoins.
Once acquired, these Bitcoins will be held in the Strategic Bitcoin Reserve for at least 20 years to ensure stability and security amid market volatility. During this period, the Bitcoins will be used exclusively for retiring federal debt instruments.
The bill claims that the Secretary of the Treasury, in consultation with the Secretaries of Defense and Homeland Security, will implement advanced physical and digital security measures to protect the reserve.
To maintain accountability, the“BITCOIN Act of 2024” requires regular monitoring and auditing, along with a quarterly Proof of Reserve system. This system will involve public cryptographic attestations and independent third-party audits to verify the holdings.
The bill also addresses the management of digital assets from Bitcoin forks and airdrops, stipulating that any new assets acquired through these mechanisms be retained in the Strategic Bitcoin Reserve for at least five years to ensure proper accounting and storage.
Additionally, it allows for voluntary state participation. States can choose to store their Bitcoin holdings in segregated accounts within the Strategic Bitcoin Reserve, benefiting from federal security and management protocols while retaining full control and legal title over their assets.
To manage the costs of setting up and maintaining the Strategic Bitcoin Reserve, the bill suggests using funds available within the Federal Reserve System.
We will convert excess reserves at our 12 Federal Reserve banks into #bitcoin over five years. We have the money now! pic.twitter.com/fGtYQ15jQJ
These funds also include surplus earnings that are usually given to the Treasury. It also considers reevaluating the value of gold certificates held by the Federal Reserve to help fund the reserve.
What do experts think?
To gain a deeper understanding of the potential impact of Senator Lummis’s Bitcoin Strategic Reserve bill, crypto.news spoke exclusively with Moe Vela, an American attorney and political advisor.
Vela is the first Hispanic to serve in two senior executive roles in the White House, first during the Clinton administration as Chief Financial Officer and Senior Advisor for Latino Affairs in the Office of Vice President Al Gore, and later during the Obama administration as Director of Administration for Vice President Joe Biden.
Vela is unequivocally critical of Lummis’s proposal, describing it as “a disaster in the making.” He argues that investing taxpayer money in Bitcoin, a cryptocurrency he views as “backed by literally air and whimsy,” would be one of the most irresponsible governmental actions he has encountered in his public service career. Vela points out:
It demonstrates that the Senator and other bitcoin enthusiasts do not fully understand that Bitcoin is too risky, declining in market share, has no organizational infrastructure, and its anonymity literally means she is suggesting our nation co-invest with the possibilities of Kim Jong Un, Vladimir Putin, or other nefarious characters or organizations.
When asked whether the Republican agenda supporting cryptocurrency is a legitimate stance or a move to destabilize Democrats, Vela is skeptical. He suggests that the GOP’s advocacy for crypto appears insincere and more like political pandering:
The GOP stance on crypto would be viewed as more sincere and genuine if it wasn’t so blatantly pandering to a vital pool of voters. When you are recommending investing taxpayer money in an assetless crypto and calling for little to no regulation after all the crypto folks who are in prison, it’s hard to take them seriously and easy to see it for what it really is—political bluster.
Vela’s skepticism extends to the potential economic impacts of adding Bitcoin as a reserve asset. He argues that the cons far outweigh any possible pros, stating bluntly:
Frankly, I can’t think of a pro to adding BTC as a reserve asset. It would be irresponsible and idiotic to do so.
Instead, Vela advocates for focusing on cryptocurrencies backed by tangible assets and regulated by bodies like the SEC:
We in the crypto community should be encouraging our government to focus on cryptocurrencies that are backed by tangible assets, report to the SEC, and strive every day to be compliant with the few parameters and policies that exist thus far.
The road ahead
The U.S. national debt is indeed spiraling out of control. If left unchecked, it could lead to severe economic consequences such as higher interest rates, reduced public investment, and a potential loss of investor confidence.
The Congressional Budget Office projects that without key policy changes, the debt could reach 166% of GDP by 2054, further exacerbating the U.S. economic troubles.
Bitcoin, with its impressive compound annual growth rate (CAGR) of 42.3% over the last five years, presents a unique opportunity to mitigate the rising debt. However, it is not without its risks. Bitcoin’s volatility and the nascent stage of its market infrastructure are crucial factors to consider.
Despite criticism from figures like Moe Vela, not everyone shares his view. Sam Lyman, Director of Public Policy at Riot Platforms, views Lummis’s efforts as essential for the Bitcoin community and believes her proposal could pave the way for innovative financial strategies.
Sen. Lummis is orange pilling Congress one member at a time.
And she was absolutely critical in helping President Trump see the merits of a Bitcoin strategic stockpile.
The Senate’s “Crypto Queen” is doing yeoman’s works on behalf of the Bitcoin community. https://t.co/d8NgtIw4jV
However, the success of such a proposal depends on various factors, including the implementation of strong security measures, regulatory clarity, and the ability to manage the inherent volatility of Bitcoin.
As the debate continues, it is clear that Senator Lummis’s proposal has sparked a discussion about the future of digital assets in national finance. Whether this innovative approach will prove to be a solution to the national debt crisis or a risky gamble remains to be seen.
Trong khi giá Bitcoin tăng hơn gấp đôi trong năm qua, thì tiền điện tử lớn nhất về vốn hóa vẫn tiếp tục đưa ra tỷ lệ phần thưởng – rủi ro hấp dẫn cho những người đang quan tâm đầu tư, theo một chỉ báo on-chain đã dự đoán thành công đợt tăng giá vào đầu năm 2023.
“Rủi ro dự trữ” của Bitcoin là chỉ số đo lường niềm tin của holder dài hạn dựa trên mức độ sẵn sàng trì hoãn việc chi tiêu coin, có biên độ nằm trong khoảng từ 0 đến 1. Theo dữ liệu của CryptoQuant, số liệu này vẫn cố định trong vùng xanh dưới 0,002.
Chỉ số thấp là dấu hiệu cho thấy holder dài hạn có động cơ nắm giữ Bitcoin ở giá hiện tại thay vì bán, ngụ ý động lực cung – cầu thuận lợi và tỷ lệ phần thưởng – rủi ro hấp dẫn cho những người muốn đầu tư bổ sung hoặc đầu tư mới.
“Rủi ro dự trữ tiếp tục duy trì trong vùng xanh, có nghĩa là mua BTC ở mức hiện tại vẫn có phần thưởng lớn so với rủi ro. Đầu tư vào Bitcoin trong những khoảng thời gian mà rủi ro dự trữ trong vùng xanh tạo ra lợi nhuận vượt trội theo thời gian”, MintingM – một công ty nghiên cứu tiền điện tử có trụ sở tại Ấn Độ cho biết.
Rủi ro dự trữ của Bitcoin | Nguồn: CryptoQuant
Rủi ro dự trữ có xu hướng dao động đồng bộ với xu hướng tăng và giảm. Trong lịch sử, vùng xanh dưới 0,0027 đã đánh dấu điểm chuyển đổi chậm từ giai đoạn cuối của thị trường gấu sang thị trường bò. Chỉ số trên 0,02 đánh dấu đỉnh thị trường bò.
Các chỉ báo khác đo lường tỷ lệ phần trăm nguồn cung không hoạt động trong khoảng thời gian cụ thể cũng cho thấy chiến lược nắm giữ quay trở lại sau một số hoạt động chốt lời ở mức cao kỷ lục vào đầu năm nay.
“Thị trường bò của Bitcoin thu hút áp lực từ bên bán một cách tự nhiên, vì giá cao hơn khuyến khích holder dài hạn chốt lời từ một số lượng nắm giữ của họ. Chúng ta có thể quan sát hiện tượng này thông qua các chỉ số Nguồn cung hoạt động lần cuối 1 năm và 2 năm trở lên giảm đáng kể trong suốt tháng 3 và tháng 4. Tỷ lệ suy giảm trên các đường cong này gần đây chậm lại cho đến nay, thể hiện hành vi HODL của nhà đầu tư chi phối đang dần quay trở lại”, công ty phân tích blockchain Glassnode cho biết trong một báo cáo hàng tuần.
Thông điệp tăng giá liên tục của các chỉ báo on-chain phù hợp với tâm lý chung của thị trường rằng đợt cắt giảm lãi suất sắp tới của Cục Dự trữ Liên bang Hoa Kỳ sẽ giúp Bitcoin bật lên từ phạm vi kéo dài trong khoảng 60.000 và 70.000 đô la.
Vào thời điểm viết bài, BTC đang giao dịch ở mức 64.702 đô la, gần như không đổi trong 24 giờ qua.
Coinbase stock price has been in a freefall, dropping for eight consecutive days, but one analyst believes that it could rebound to $295, ~40% above its Friday’s open.
Coinbase’s retreat happened as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other altcoins suffered a harsh reversal, leading to lower volumes across centralized and decentralized exchanges.
Coinbase earnings
In addition to the trends in the crypto market, the Coinbase stock price reacted to the company’s earnings, which showed the benefit of its diversification.
Coinbase made $1.3 billion in net revenue in the second quarter, a big increase from the $663 million it made in the same period in 2023. The figure was lower than the $1.58 billion it made in Q1.
Coinbase’s net income of $36 million was also higher than the $97 million loss it made in the same period a year earlier. All its numbers were better than its guidance and analyst estimates.
Most importantly, Coinbase’s efforts to diversify its business are working. Its transaction revenue came in at $780 million, while the subscription and services revenue jumped to $599 million.
A big increase in its latter segment was its custodial fee part, whose revenue rose to $34.5 million. This is an exciting business for Coinbase because it has become the biggest custodian for most Bitcoin and Ethereum ETFs. Its figures will see less volatility in the future since investors hold their ETFs for a long period.
The other part of Coinbase’s subscription and services revenue includes its stablecoin, blockchain reward, interest and fee, and other subscriptions.
Analyst is bullish on Coinbase stock
Most Wall Street analysts are bullish on the COIN stock. According to Yahoo Finance, the average analyst price target is $265, 25% higher than its Friday’ open.
Citigroup changed its tune on Coinbase, moving from neutral to buy in July. Other analysts from Needham, Goldman Sachs, and JMP Securities are bullish on the stock.
The latest analyst to comment on the stock was from HC Wainwright, who lowered their price target from $315 to $295, implying a still strong 40% gain from its current price.
The analyst cited two key catalysts to drive shares higher. First, the crypto industry could get the regulatory clarity it has always wanted this year. Brian Armstrong, the company’s CEO has seen some bipartisan moves about crypto in Congress in the past few months.
Second, HC Wainwright noted that Coinbase has now become a more diversified company, meaning that it is no longer dependent on transaction revenue.
“While it is plausible that we could see crypto asset prices and trading volumes trend sideways in the coming months due to macro related headwinds/uncertainty, we remain bullish on these critically important drivers for Coinbase as we look out over the next 12-18 months, as we enter the next leg of this bull market cycle for crypto,” the analysts wrote.
HC Wainright faces some technical risks. On the daily chart above, the stock has retreated below the 50-day and 100-day Exponential Moving Averages (EMA), meaning that bears are taking over. It has also formed a slanted double-top pattern whose neckline is at $195.02. A drop below that level will point to more downside.
Theo Cục Thống kê Lao động Hoa Kỳ, thị trường việc làm dịu đi đáng kể trong tháng 7 khi Hoa Kỳ chỉ tạo thêm 114.000 việc làm trong tháng và tỷ lệ thất nghiệp tăng lên 4,3%.
114.000 việc làm đó rất thấp so với kỳ vọng là 175.000 và giảm so với 179.000 trong tháng 6 (con số này đã được điều chỉnh thấp hơn so với báo cáo ban đầu là 206.000).
Tỷ lệ thất nghiệp 4,3% tăng từ mức 4,1% trong tháng 6 và cao hơn dự báo là 4,1%.
Giá Bitcoin gần như không thay đổi ngay trước khi các con số được công bố, hiện giao dịch ở mức 64.888 đô la và chỉ tăng hơn 1% so với 24 giờ trước.
Biểu đồ giá BTC 4 giờ | Nguồn: Tradingview
Phản ứng tại các thị trường truyền thống lớn hơn nhiều, với lãi suất trái phiếu kho bạc kỳ hạn 10 năm giảm 15 điểm cơ bản xuống 3,83% và lợi suất trái phiếu kho bạc kỳ hạn 2 năm giảm 23 điểm cơ bản xuống 3,93% – cả hai đều là mức thấp nhất trong hơn một năm. Các cổ phiếu gần như không khả quan hơn vì hợp đồng tương lai của Nasdaq hiện giảm 2,3% và S&P 500 thấp hơn 1,6%.
Tương tự, đô la Mỹ giảm 0,6%. Ngược lại, vàng đã tăng 1,3% lên mức cao kỷ lục mới là 2.513 đô la/ounce.
Kiểm tra các chi tiết báo cáo khác, thu nhập trung bình mỗi giờ tăng 0,2% trong tháng 7, thấp hơn mức 0,3% dự kiến và 0,3% trong tháng 6. Trên cơ sở hàng năm, thu nhập trung bình mỗi giờ cao hơn 3,6% so với dự kiến 3,7% và 3,8% trong tháng 6. Số giờ trung bình hàng tuần cũng không đạt kỳ vọng, ở mức 34,2 so với dự báo là 34,3 và 34,3 vào tháng 6.
Do đã định giá đầy đủ về đợt cắt giảm lãi suất 25 điểm cơ bản của Cục Dự trữ Liên bang Hoa Kỳ (Fed) vào tháng 9, các trader đang nhanh chóng đặt cược vào động thái thậm chí còn lớn hơn. Theo CME FedWatch, hiện có 70% khả năng Fed cắt giảm 50 điểm cơ bản vào tháng 9 so với chỉ 22% cơ hội một ngày trước. Kiểm tra cuộc họp tháng 12 cho thấy các trader bắt đầu đặt cược vào tổng số cắt giảm lãi suất 125 điểm cơ bản từ nay đến cuối năm. Một ngày trước, tỷ lệ áp đảo chỉ là cắt giảm lãi suất 75 điểm cơ bản vào năm 2024.
Bitcoin miner CleanSpark reported securing 75 MW in Wyoming despite previous national security concerns.
American Bitcoin mining firm CleanSpark Inc. announced the successful acquisition of a Bitcoin mining site in Wyoming, overcoming previous national security concerns raised by the White House.
The company said in a July operational report published on Aug. 2 that it had secured power agreements totaling 75 MW in the state and commenced hashing operations in Tennessee, adding 1 EH/s to its hashrate in July. CleanSpark chief executive Zach Bradford highlighted the progress made, adding that the company remains on track to achieve its target of 32 EH/s by the end of 2024.
“In Tennessee, we began hashing under our agreements with GRIID infrastructure Inc. with 1 EH/s of additional hashrate added in July. We’re continuing our trajectory of growth as we progress towards our target of 32 EH/s by the end of the year,” Bradford said.
In July, CleanSpark mined 494 Bitcoin (BTC), bringing its total produced crypto for 2024 to 4,108 BTC. During the month, the firm sold 2.54 BTC at an average price of approximately $62,070 each, ending the month with an operating hashrate of 21.2 EH/s. As of July, CleanSpark held 7,082 BTC in its holdings, the report reads.
CleanSpark caught in U.S.-China political battle
The acquisition of the Wyoming site comes despite previous national security concerns. Earlier in May, CleanSpark purchased a few mining sites from MineOne, a company with Chinese ties, located near Warren Air Force Base, which houses strategic nuclear weapon systems.
Amid the purchase, President Joe Biden issued an emergency order to halt operations at the site, saying the “presence of specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities, presents a national security risk to the United States.” The order also mandated the removal of all crypto mining equipment from within a mile of the military facility.
Despite these concerns, CleanSpark proceeded with the acquisition. A spokesperson for the company acknowledged the unexpected challenges but affirmed CleanSpark’s commitment to compliance and national security.
Một cuộc khảo sát gần đây của CoinGecko cho thấy 54,1% nhà đầu tư không mong đợi các NFT sẽ quay trở lại trong chu kỳ thị trường hiện tại. Chỉ 19,4% số người được hỏi bày tỏ sự lạc quan về sự hồi sinh của NFT trong thời gian tới.
Nguồn: CoinGecko
Cuộc khảo sát thu thập phản hồi từ 2.558 người tham gia tiền điện tử cho thấy 29,5% hoàn toàn không đồng ý với khả năng NFT quay trở lại, trong khi 24,7% ít bi quan hơn nhưng vẫn hoài nghi. Lập trường trung lập được 26,4% số người tham gia đưa ra.
Tâm lý đối với NFT vẫn nhất quán ở các cấp độ trải nghiệm tiền điện tử khác nhau, trong đó những người mới và những người kỳ cựu có chung quan điểm. Tuy nhiên, các nhà xây dựng và khán giả tỏ ra lạc quan hơn so với các nhà đầu tư và trader.
Theo báo cáo, NFT vẫn được các nhà phát triển coi là công cụ tương tác mạnh mẽ, mặc dù hiện tại thiếu động lực đầu cơ. Caitlyn Burns, Giám đốc cấp cao tại Candy Digital, đã tuyên bố rằng tương tác thông qua NFT khác biệt với mọi thứ được thấy trong Web2.
“Và đây là thứ vượt qua các điều kiện thị trường vì tiện ích, trải nghiệm khi tham gia các chương trình này lớn hơn bất kỳ tháng cụ thể nào, bất kỳ thời điểm cụ thể nào trong một cộng đồng đầu cơ”, cô nói thêm.
Các mặt hàng trong game và metaverse là trường hợp sử dụng NFT phổ biến nhất, với 17,2% người tham gia coi đây là trường hợp hứa hẹn nhất. Meme (9,5%), ảnh hồ sơ (8,3%) và tác phâm nghệ thuật (7,6%) là các ứng dụng tiếp theo được ưa chuộng khác.
Nguồn: CoinGecko
Đáng chú ý, 36,9% số người được hỏi xác định là gấu NFT hoặc bày tỏ sự thờ ơ với công nghệ này. Cuộc khảo sát được thực hiện từ ngày 25/6 đến ngày 8/7/2024, với những người tham gia chủ yếu đến từ Châu Âu, Châu Á, Bắc Mỹ và Châu Phi.
Mantra token price rose slightly on Friday as its staking reward neared its all-time high and as traders prepared for the next altcoin rally.
The Mantra (OM) token was trading at $1.2, up by 8% from its lowest level this week and 1,700% above the year-to-date low. This rally happened as investors predicted that Real World Asset (RWA) tokenization would be the next big thing in the blockchain industry. Mantra has positioned itself as the biggest infrastructure project for RWA.
Mantra has already made some wins in the past few months. For example, the developers inked a deal with a large Dubai-based real estate company to tokenize some of its projects.
The OM token has also done well because of its recently announced Genesis Drop, which will see qualifying users receive 50 million tokens. Some of the qualifying members are Mantra’s NFT holders, early ecosystem contributors, and active community members.
Mantra has also risen because of its higher-than-average staking rewards. Data by StakingRewards shows that almost 50% of all OM tokens in circulation have been staked while the number of Mantra wallets has risen.
Mantra price and staking rewards | Source: StakingRewards
Recently, Mantra’s staking reward has been growing and is now sitting at a record high of 21.21%. This reward means that, all factors constant, $100,000 invested in OM will make $21,200 annually.
Mantra has the highest staking reward among the top cryptocurrencies. Toncoin (TON) yields just 2.56% and has a staking ratio of 25.23% while Tron (TRX) yields 4.15% and Avalanche has a 7.95% yield.
Unlike most cryptocurrencies, Mantra will not see substantial dilution since the current circulating supply of 837.5 million tokens is near its maximum supply of 888 million tokens.
Meanwhile, some analysts believe that the crypto industry could see another altcoin breakout in the coming months. In an X post, Ki Young Ju, the founder of CryptoQuant, noted that limit order volume for altcoins, excluding Bitcoin (BTC) and Ethereum (ETH) was rising.
A potential catalyst for cryptocurrencies and stocks is the Federal Reserve, which is scheduled to start cutting interest rates in September. Odds of a cut rose after the US published weak jobs numbers, with the unemployment rate rising to 4.3%, its highest point since 2021.
