Rhythm Morning News｜A list of important news from last night and this morning on July 18

Polymarket's Biden's probability of withdrawing from the election soars to 62%

BlockBeats reported that on July 18, according to the prediction market Polymarket data, the current probability of Biden withdrawing from the US presidential election has soared to 62%.

BlockBeats previously reported that Biden said he would consider withdrawing from the campaign if he had health problems. Biden tested positive for the new coronavirus.

Grayscale launches new decentralized artificial intelligence fund, with NEAR, FIL and RNDR having the highest weights

BlockBeats reported that on July 17, according to The Block, Grayscale launched a new decentralized artificial intelligence fund, Grayscale Decentralized AI Fund LLC, which aims to strengthen the cryptocurrency industry's investment in artificial intelligence. As of today, the decentralized AI projects already included in the fund’s basket include Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). Near, Filecoin, and Render are the most heavily weighted assets in the fund, respectively.

9 spot Ethereum ETF fees have been announced

BlockBeats news, on July 18, as issuers successively submitted S-1/A and other documents of spot Ethereum ETFs to the US SEC, the fees of 9 spot Ethereum ETFs have been announced. The specific data are as follows:

· The fee of BlackRock spot Ethereum ETF is 0.25% (0.12% for the first US$2.5 billion or the first 12 months), and the code is ETHA;

· The fee of Fidelity spot Ethereum ETF is 0.25% (no management fee for the whole year of 2024), and the code is FETH;

· The Bitwise spot Ethereum ETF has a fee of 0.20% (0% for the first $500 million or the first 6 months) and is ETHW;

· The 21Shares spot Ethereum ETF has a fee of 0.21% (0% for the first $500 million or the first 12 months) and is GETH;

· The VanEck spot Ethereum ETF has a fee of 0.20% (0% for the first $1.5 billion or the first 12 months) and is ETHV;

· The Invesco Galaxy spot Ethereum ETF has a fee of 0.25% and is QETH;

· The Franklin spot Ethereum ETF has a fee of 0.19% (0% for the first $1.5 billion or the first 100 months before January 31, 2025) and is QETH. Grayscale Spot Ethereum ETF has a fee of 2.50% and its ticker is ETHE. Grayscale Spot Ethereum Mini ETF has a fee of 0.25% (0.12% for the first $2 billion or the first 12 months) and its ticker is ETH.

The U.S. Bitcoin spot ETF had a net inflow of US$53 million yesterday, marking nine consecutive days of net inflow

BlockBeats news, on July 18, according to HODL15Capital monitoring data, the U.S. Bitcoin spot ETF had a net inflow of US$53 million yesterday, marking nine consecutive days of net inflow.

Sanctum: Airdrop allocation query on LFG is online again, adding 1,000 eligible users

BlockBeats news, on July 17, Solana ecosystem liquidity pledge agreement Sanctum posted on social media that the airdrop allocation checker on the LFG website has been launched again. Due to official statistical errors, the allocation of non-Cupcakes holders may be slightly reduced, up to 3%. In addition, Sanctum has added 1,000 users who meet the airdrop qualifications.

Vitalik: Oppose making political voting choices based on "whether to support encryption"

BlockBeats news, on July 18, Ethereum co-founder Vitalik Buterin published an article expressing his opposition to making political voting choices based on "whether to support encryption". Supporting a [politician] should be because of their entire platform and views, not just because they support cryptocurrency.

Vitalik wrote in the article that the cryptocurrency field is increasingly active in politics, and supports them almost entirely based on whether political parties and candidates are willing to be tolerant and friendly to "cryptocurrency". But decisions made in this way are likely to go against the values that originally brought you into the crypto field. In the crypto field, people tend to focus too much on the centrality of "money" and the freedom to hold and spend money (or "tokens"). Bitcoin is seen as an extension of the spirit of liberalism in the field of Internet payments.

Vitalik believes that freedom is important, and decentralized networks are good at protecting freedom. Money is an important area where such networks can be applied - but it is only one of several important areas. And being friendly to cryptocurrencies now does not mean that it will still be friendly to cryptocurrencies in five years.

German government "BTC sell-off" summary: more than 90% of tokens are completed through OTC transactions, and there is no direct impact on the market

BlockBeats news, on July 17, the German government issued a "BTC sell-off" summary, indicating that its nearly 50,000 BTC have been sold, and 2,639,683,413 euros have been obtained. The overall sell-off lasted for more than 3.5 weeks, and more than 90% of the tokens were completed through OTC transactions. The sell-off was completed in a fair and gentle manner, and there was no direct impact on the BTC price.

Grayscale: Market sentiment has shifted due to expectations of a more favorable regulatory environment

BlockBeats news, on July 18, Grayscale posted on social media that "the price of Bitcoin rebounded sharply after the initial sell-off triggered by the sale of confiscated Bitcoin in Germany. Grayscale believes that market sentiment has shifted due to expectations of a more favorable regulatory environment, boosting investors' confidence in the future of cryptocurrencies."

QCP Capital: Multiple catalysts boost BTC's rise, and the medium-term bullish view is still maintained

BlockBeats news, on July 17, QCP Capital posted on its official channel that although Bitcoin fell to US$54,000 some time ago and altcoins also fell by 30%, the market was full of panic, but the agency still maintained a medium-term bullish view. It believes that the current positive factors include:

· Powell's dovish stance, the market believes that the possibility of a rate cut in September is 100%

· The German government's sell-off has ended

· The launch of the ETH spot ETF is basically a foregone conclusion

· Trump chooses J.D. Vance as vice president

Mark Cuban: Inflation is still the fundamental reason for the rise of BTC, and BTC will become a "safe haven" for global funds

BlockBeats news, on July 18, billionaire and well-known investor Mark Cuban posted on social media that Trump's support for cryptocurrency is good news, but it has not really affected the price of cryptocurrency. What drives the price of BTC is lower tax rates and tariffs. If history is a mirror, the fundamental reason is still inflation. Add to that global uncertainty about the geopolitical role of the United States and the impact on the dollar as a reserve currency.

As for the question of "how high it can go", Mark Cuban said the price of BTC will be "much higher than imagined". Because the BTC market is global, the ultimate limit of supply is 21 million pieces, which can be fragmented without limit. When geopolitical uncertainty increases and the size of the dollar as a reserve currency decreases, BTC will become a global "safe haven", which means that BTC may be something that everyone in various countries wants to buy as a means of protecting savings. This is not crazy for a country that is already facing hyperinflation. If things really go further than imagined, then BTC will become a global currency.

CryptoQuant: Bitcoin's rise may be constrained by the market value of stablecoins

BlockBeats news, on July 18, CryptoQuant analysts pointed out that "stablecoin liquidity may limit the potential for significant price increases in Bitcoin in the future. The market value of stablecoins has not yet fully increased, especially USDT, which is the key to further increases in Bitcoin prices."

The company added in a statement on Wednesday: "Despite some positive trends in the market value of stablecoins, the monthly growth in USDT's market value is still close to zero, which still suppresses the potential for further increases in Bitcoin prices." (Decrypt)

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