Bitwise releases second quarter report: The bull market is far from over

Odaily News Bitwise released its second quarter report, the core points of which include: · Bitcoin ETFs saw inflows of more than $2.4 billion in the second quarter, setting a new record for investor demand, purchasing more than 100% of newly mined Bitcoin, leading to increased supply pressure. · Regulated Bitcoin futures contracts saw a surge in open interest, with CME Bitcoin open interest hitting a record high of $9.8 billion in the second quarter, up nearly 400% year-on-year. · Stablecoins have become one of the true “killer apps” for cryptocurrencies, making dollars and instant payments available globally, with asset management and trading activity approaching record highs. · The Ethereum Layer 2 network has grown rapidly, with a significant increase in active addresses, while fees remain low, improving the usability of the Ethereum blockchain. Bitwise said: “Looking ahead to the second half of the year, including the U.S. election and the possible launch of a spot Ethereum ETF, we see signs that the bull market is far from over.”