You are about to leave the website of SDM Inc. ("SDM") and will be redirected to the website of SDM Financial Inc. ("SDM Financial"), a US affiliate of SDM providing crypto derivatives trading services.
Please be aware that SDM Financial's services are not intended for, and should not be used by, residents of Canada.
By clicking on the link to SDM Financial's website, you acknowledge and agree that: You are not a Canadian resident.
SDM Financial is not registered with any regulatory authority in Canada and is strictly prohibited from entering, or otherwise engaging in, any transactions with Canadian residents.
Non-Canadian residents who deal with SDM Financial do so at their own risk, and SDM will not be held liable for any losses or damages incurred as a result.
By clicking 'I Accept' below, you confirm that you have read, understand, and agree to the above . If you do not agree, please select 'I Decline' and you will be redirected back to SDM's website.
Pump.Fun Approaches $100 Million in Cumulative Revenue Just Eight Months After Launch
Pump.Fun is set to exceed $100 million in cumulative revenue soon, with current earnings at $94.5 million. Launched in January 2024, the Solana-based memecoin platform has generated over 1.8 million memecoins. The platform uses a bonding curve model, increasing coin prices with demand and redistributing liquidity to Raydium as market caps hit $69,000. Pump.Fun charges a 1% fee on transactions and recently removed token deployment costs, further boosting activity. Despite this, the influx of low-quality tokens has led to some user dissatisfaction.
Colorado Church Group Tokenizes $2.5M Chapel
A Colorado church group, "Colorado House of Prayer," has tokenized its $2.5 million chapel, called "Old Stone Church," to raise funds for its purchase. Led by Pastor Blake Bush, the group is using blockchain technology to create "Stone Coin," a digital asset tied to the church's real estate, as a way to secure the building. Bush, inspired by a spiritual experience, believes this approach aligns with their mission. The project has already raised about half of its goal and plans to open token sales to non-parishioners in the future.
Bitcoin Miners Could Earn $13.9B Annually from 20% Shift to AI and HPC
VanEck suggests that Bitcoin miners could significantly boost profitability by allocating some of their energy capacity to the AI and high-performance computing (HPC) sectors, potentially generating an additional $13.9 billion in yearly revenue by 2027. This shift could help miners with "bad balance sheets" due to debt and excessive share issuance. The report highlights that AI companies, which need substantial energy, could provide the capital for such transitions. This comes amid a challenging year for Bitcoin miners, following the April halving, which reduced mining rewards and increased operational costs.
Trading Desk Insights
Bitcoin remains constrained by its 20-day and 50-day moving averages, a trend that has persisted since the recent market downturn. Each time prices approach these resistance levels, sellers step in to drive them lower. A decisive break and close above the $60,000 mark is essential to signal the potential for a recovery. Further, a sustained move beyond $63,000 would likely restore the market to a bullish trajectory.
In the FX market, emerging signals reflect the fragility of the global economy. For the first time in over three years, speculators have turned bullish on the Japanese Yen, which is often regarded as a "safe-haven" or "risk-off" asset. This shift suggests growing caution among investors, as yen strength typically signals apprehension about broader market conditions. Consequently, this increased risk aversion has also impacted risk assets, including cryptocurrencies. The recent pullback in traditional markets has contributed to Bitcoin's decline, with the cryptocurrency falling from approximately $70,000 to $50,000 over eight days leading up to August 5th, before stabilizing around $60,000.
Looking ahead to the Federal Reserve's upcoming meetings, market probabilities indicate a 78% chance of a 25 basis point rate cut in September, 59% for a 50 basis point cut in November, and 42% for a 75 basis point reduction in December.
Equity futures showed some hesitation on Monday following a robust performance by the S&P 500, which had its best week of 2024. The month of August began on a volatile note, with disappointing economic data stoking recession fears and triggering a global sell-off. This led to the S&P 500 experiencing its worst trading day since 2022 on August 5th. However, positive economic data last week, including encouraging retail sales figures and lower-than-expected initial jobless claims, helped ease market concerns. Additionally, the annualized inflation rate, as measured by July's consumer price index, reached its lowest level in over three years, further bolstering investor sentiment.
Looking ahead, Federal Reserve Chair Jerome Powell is scheduled to speak at the central bank's symposium in Jackson Hole, Wyoming, on Friday. In the meantime, traders will closely analyze the minutes from the Fed's most recent meeting, which are set to be released on Wednesday.
Crypto Charts
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
Contact Us
Sign up to receive more exclusive market coverage:
.png)
.png)
.png)
.jpeg)
