The Financialization of Crypto Assets Advances | Matrixport Research

The latest data from Matrixport Research shows that the general trend of the crypto market is positive.

The main factors are as follows:

• Daily minting data increased & BTC mining hash rate improved, BTC price is expected to rise
• Trump may announce BTC as a strategic reserve asset for the US, and the expectation of BTC rising brought by the election continues to be released
• ETH ETF was finally approved, and the first-day trading volume was 20–25% of the BTC spot ETF

Bitcoin has maintained positive momentum over the past week, driven by several factors: an increase in stablecoin minting, an improvement in the Bitcoin mining hash rate, speculation about presidential candidate Donald Trump potentially proposing Bitcoin as a strategic reserve asset, and the successful launch of Ethereum Spot ETFs.

Daily minting data increased & BTC mining hash rate improved, BTC price is expected to rise

Fiat-to-crypto inflows have picked up, as indicated by a recent rise in daily minting data. Historically, such increases have been bullish, signaling a shift of funds from traditional financial markets into the crypto sector.

The Bitcoin mining hash rate, a leading indicator for Bitcoin rallies, has improved. Instead of inventory slashing, Bitcoin inventories continue to increase. This inventory build-up suggests confidence in future price increases despite some miners shutting down unprofitable machines. The rebound in the hash rate indicates that miner stress may be limited.

Trump may announce BTC as a strategic reserve asset for the US, and the expectation of BTC rising brought by the election continues to be released

As of 2024, approximately 35–38% of global Bitcoin mining activity is conducted in the United States, making it the largest Bitcoin mining country by hash rate. Former President Donald Trump has stated his desire for all remaining Bitcoin to be mined in the United States, framing it as a strategic move to bolster the country’s energy dominance and counteract influences from countries like China and Russia. Trump emphasized the potential benefits of U.S.-based Bitcoin mining for energy grid stability and national economic interests.

During his keynote speech at the Bitcoin 2024 Conference in Nashville, scheduled at 2 pm on Saturday, July 27, Trump is rumored to announce Bitcoin as a strategic reserve asset for the United States. Bitcoin miners would be key beneficiaries. While no official confirmation has been made, anticipation is high among crypto investors.

ETH ETF was finally approved, and the first-day trading volume was 20–25% of the BTC spot ETF

Initial Ethereum Spot ETF indications confirm that trading volumes match 20–25% of Bitcoin Spot ETFs, implying potential inflows of $3.2 billion to $3.5 billion over the next six months. Given the limited marketing efforts and lack of significant promotional campaigns, initial inflows may disappoint.

Disclaimer: The above content is for informational purposes and reference only. The content does not constitute investment advice. Digital asset transactions can be precarious and volatile. Investment decisions should be made after carefully considering individual circumstances and consulting financial professionals. Matrixport is not responsible for any investment decisions based on the information provided in this content.

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