Whales Amass 71,000 BTC in Just 3 Weeks | Cryptoasset Digest

Dear Readers,

Welcome to XEROF's weekly newsletter, where we bring you exclusive insights into the dynamic world of cryptoassets and luxury real estate. In this week’s edition, our European research desk highlights the week's most important news and developments. 

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Here are our top stories:

• Bitcoin Whales Amass 71,000 BTC in Just 3 Weeks
• Binance CEO Predicts Next Bitcoin Bull Run
• Shiba Inu Holders Increase a Thousandfold in 24 Hours

We also feature the latest developments in luxury real estate, including:

• Manhattan Sees Record Surge in All-Cash Home Buyers
• Dubai Luxury Homes Sales Hit $3.1 Billion in the First Half of 2023
• Amazon's Influence Spurs Luxury Boom in Arlington, Virginia

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Cryptoasset News

Bitcoin Whales Amass 71,000 BTC in Just 3 Weeks

In three weeks, Bitcoin whales successfully accumulated a staggering 71,000 BTC. This impressive accumulation rate indicates high confidence, fuelled by the recent surge in Spot ETF applications from traditional institutional firms. XEROF notes that this accumulation is particularly impressive as BTC’s price is trading between $30,000 and $31,000.

Binance CEO Predicts Next Bitcoin Bull Run

Binance CEO Changpeng Zhao, speaking on Twitter Space on July 5, predicted the next Bitcoin bull run. He highlighted the historical pattern of Bitcoin's price moving in four-year bull cycles and believed this trend would likely continue. Zhao acknowledged the uncertainty of the future but drew attention to the upcoming Bitcoin halving event in 2024, indicating that 2025 appeared to be the most probable year for the next bull market. XEROF agrees, noting that the limited supply and increasing demand have historically led to an upward trajectory in the price of Bitcoin following halving events.

Shiba Inu Holders Increase a Thousandfold in 24 Hours

In just 24 hours on July 7, the number of Shiba Inu holders skyrocketed by a thousandfold. This surge in holders can be attributed to the recent announcement of the network’s upcoming layer-2 solution, “Shibarium.” Set to launch next month, Shibarium promises faster transactions and reduced fees. XEROF highlights that Shibarium's testnet witnessed significant activity over the past months, with approximately 20 million transactions originating from an estimated 16 million wallets as of June, indicating the growing network demand.

Luxury Real Estate News

Manhattan Sees Record Surge in All-Cash Home Buyers

In Manhattan, the rate of cash buyers continues to rise, reaching an all-time high of 64.5%, according to Mansion Global. This surge is attributed to elevated mortgage rates. In comparison, the number of buyers utilising mortgages has more than halved from the previous year, with 55.2% in Q4 2022 dropping to just 64.5% in Q1 2023.

Dubai Luxury Homes Sales Hit $3.1 Billion in the First Half of 2023

Dubai witnessed a surge in demand for prime properties, resulting in luxury home sales exceeding $3.1 billion in the first half of 2023. According to Knight Frank, a global property consultancy, 176 homes were sold between January and June. The increased volume of luxury sales has contributed to a 15% rise in flat prices and a 46% rise in villa prices across the Emirates during this period.

Amazon's Influence Spurs Luxury Boom in Arlington, Virginia

Five years after Amazon unveiled its HQ2 plans in 2018, the luxury market in Arlington has been thriving. The demand unleashed by Amazon's commitment to develop 6,800 new residential units as part of a $2.5 billion mixed-use campus shows no signs of slowing down, particularly in South Arlington. Presently, two new luxury condo buildings have begun delivering their first units, with several more developments in the pipeline.