Weekly Crypto Recap (Aug 12 - Aug 19)

Here’s your weekly update from Metaverse.SG, spotlighting the hottest crypto happenings of the week:

• Trump & Crypto
• Good financial news
• Ethereum ETF & Gas
• $ZOTH FREE Airdrop Guide
• How to manage emotions in crypto?
• Memecoin Trading Strategy

Jump into the latest crypto buzz!

Market Overview

BTC-ETF: 

• Monday: +$27M
• Tuesday: +$38M
• Wednesday: -$81M 
• Thursday: +$11M
• Friday: +$36M

ETH-ETF: 

• Monday: +$4M
• Tuesday: +$24M
• Wednesday: +$10M 
• Thursday: -$39M
• Friday: -$15M
   

Ethereum this week 

Ethereum ETFs saw their first weekly inflows since their launch in late July, marking a significant shift in investor sentiment. BlackRock's iShares Ethereum Trust (ETHA) led the surge with a remarkable $109.9 million inflow during the first week of August, bringing its total assets to over $900 million​. Other ETFs, including those by Fidelity and Grayscale, also witnessed positive net flows, contributing to an aggregate inflow of approximately $104.8 million for the week​  This resurgence occurred despite a substantial price decline in Ethereum, demonstrating renewed institutional confidence in ETH-focused investment products.
 

Additionally, institutional interest in Ethereum continues to grow beyond the ETF market. BlackRock now holds 293,938 ETH worth over $761 million, reinforcing its strong presence in both ETH and Bitcoin, where it holds $21 billion in BTC​ DRW, a leading trading firm, has also committed $150 million to Ethereum ETFs, making ETH 6% of its overall portfolio​ . This surge of interest comes as Ethereum gas fees plummeted below 1 gwei, potentially spurring greater network activity and investor interest​ 

Trump & Crypto
 

Donald Trump’s family is preparing to enter the cryptocurrency space with a bold new initiative focused on "digital real estate." According to Eric Trump, this project will harness the power of decentralized finance (DeFi) to tokenize real estate, making property ownership more accessible and disrupting the traditional banking system. Eric emphasizes that the project aims to provide equitable collateral that can be accessed instantly, potentially speeding up financial transactions and cutting out the slow, bureaucratic processes of banks. He hinted that this venture could fundamentally shake up both the real estate and financial sectors

The Trumps' growing involvement in cryptocurrency marks a notable shift from Donald Trump's previous skepticism towards digital assets. The project is likely part of a broader effort to address perceived financial discrimination and empower more individuals to become financially independent. Eric Trump has also expressed frustration with the current financial system, suggesting that decentralized technologies offer a solution to bypass restrictive banking policies. Although the specifics remain vague, anticipation is building in the crypto community as many await the official announcement of the Trump Organization's crypto-based real estate venture​ 

Good Financial News 

On August 22, the number of initial jobless claims in the U.S. was released. The data revealed a slight decline in claims, signaling a more resilient labor market than expected. Investors and analysts reacted cautiously, as the news suggested that the Federal Reserve might continue its tightening policy for longer to combat inflation. This data bolstered the U.S. dollar, causing a slight dip in equity markets as investors recalibrated their expectations regarding interest rate hikes.

The following day, August 23, Jerome Powell, the Chairman of the Federal Reserve, delivered a highly anticipated speech. Powell emphasized the Fed's commitment to controlling inflation while maintaining economic stability. He acknowledged the strength of the labor market but reaffirmed the need for vigilance. His remarks led to increased volatility in the financial markets, with stocks initially dipping before stabilizing as investors processed the Fed's position. Bond yields rose as expectations for future rate hikes solidified, further impacting both domestic and global markets.

How to manage emotions in crypto?
 

Zoth Airdrop Guide

Zoth Airdrop Guide
 

Conclusion:

• Stay tuned
• Stay updated instantly on our X 👉 https://x.com/MetaverseSG.