Web3🌕Monday Buzz: Bitcoin Surge, Trump's Bitcoin Conference Speech, Dormant $60M Bitcoin Reactivation, Ethereum's ETF Prospects

In the fast-evolving world of Web3, today's headlines are ablaze with significant developments across cryptocurrency markets and political landscapes. From Bitcoin's robust resurgence fueled by 'Trump Trades' to Ethereum's soaring valuation and the awakening of a dormant $60 million Bitcoin address, the stage is set for an intriguing week ahead. Notably, amidst these shifts, former President Donald Trump's commitment to speak at a prominent Bitcoin conference following a recent assassination attempt adds a unique dimension. Join us as we unpack these pivotal moments shaping the future of digital currencies and explore what they mean for investors and enthusiasts alike in this dynamic Web3 ecosystem.

1. Bitcoin Surges to $62K Amid Resurgence in 'Trump Trades' Post Weekend Attack

Bitcoin surged 7% to $62,500 following an assassination attempt on pro-crypto candidate Trump, boosting his election odds to 70%. This rally broke Bitcoin’s 200-day SMA, signaling positive momentum. Trump-themed Polifi tokens also surged, reflecting his growing support among crypto enthusiasts. The former president is set to speak at the Bitcoin 2024 conference, further galvanizing the market. Meanwhile, the Chinese yuan and Mexican peso slipped, and futures tied to the 10-year Treasury note fell, indicating higher yields. Stay tuned for more updates as this political drama unfolds.

Bitcoin Retakes $62K as ‘Trump Trades’ Back In Vogue After Weekend Attack

The weekend attack on pro-crypto presidential candidate Trump should galvanize bids for cryptocurrencies, one observer said.

CoinDeskOmkar Godbole

2. Trump Confirmed for Bitcoin Conference Following Assassination Attempt

Following an assassination attempt, Trump will deliver a speech at the upcoming Bitcoin Conference in Nashville. With 20,000 attendees expected, additional security measures are in place. BTC Inc.’s CEO David Bailey confirmed Trump’s commitment to the event, expressing solidarity with the global Bitcoin community. This conference will also feature other crypto-friendly politicians, including Robert F. Kennedy Jr. and Tennessee Senators Marsha Blackburn and Bill Hagerty. Trump, who has embraced crypto recently, will join these leaders in supporting the growing cryptocurrency movement. Stay tuned for an impactful event as Trump addresses the crypto world.

Trump to Speak at Bitcoin Conference Despite Assassination Attempt - Decrypt

Former President Donald Trump is still committed to a Bitcoin conference in Nashville this month after surviving an assassination attempt.

DecryptAndré Beganski

3. $60M Bitcoin Address Awakens After Dormancy of Nearly 12 Years

A dormant Bitcoin wallet containing 1,000 BTC worth over $60 million transferred funds after 12 years. Originally valued at $12,100, the wallet saw a 500,000% increase in value. The transaction, first broadcast in January 2024, involved moving the BTC to a new address. The owner's identity and motive remain undisclosed. Recent similar movements highlight a trend of long-dormant Bitcoin addresses becoming active amid market shifts and regulatory developments. This event underscores Bitcoin's volatility and its holders' strategic moves in response to market conditions.

Dormant address containing $60 million in bitcoin wakes up after nearly 12 years

The transaction worth over $60 million was originally broadcast to the network in January but was only mined into a block on Sunday.

The Block[email protected]

4. Ethereum Climbs Above $3.3K with ETF Approvals Expected

ETF analyst Nate Geraci predicts Ethereum's spot ETFs will launch this week, potentially propelling ETH prices to new highs. Currently trading at $3,331, ETH has surged 16% from $2,909 last week. Geraci, from The ETF Store, expressed optimism about imminent approvals, suggesting no valid reasons for further delays. Multiple issuers, including VanEck and 21Shares, amended registrations recently, anticipating SEC approval. Analysts foresee the ETFs as a catalyst for ETH's future price action, with expectations of attracting up to $10 billion in new investments. This momentum is expected to help ETH catch up to Bitcoin's performance over the past 18 months.

Ethereum tops $3.3K as analysts tip ETF approvals this week

ETF analyst Nate Geraci said that while he didn’t “know anything specific” — there was simply no “good reason” why the SEC would delay the launch of the ETFs any longer.

CointelegraphTom Mitchelhill

As we conclude our exploration of today's Web3 highlights, the convergence of political intrigue and cryptocurrency milestones underscores the transformative potential of digital assets in global finance. Stay tuned as we continue to track these stories and delve deeper into how they shape the future of blockchain technology and investment strategies. For more insights and updates on the latest in Web3, subscribe to our newsletter and follow us for real-time analysis and expert commentary. The journey towards a decentralized future awaits – are you ready?

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