The Daily: Ethereum sell pressure, Metaplanet surges on bitcoin buy, OKX's BTC price guessing game and more

• The forecast concurs with the distribution of open interest for frontend ether options, where the put-call ratio has spiked to 1.45, according to Deribit data. 
• This indicates a higher number of put options relative to calls, suggesting that traders are expecting potential immediate downside or are seeking to hedge against price declines.
• In the longer term, Fournier expects the price of ether to drop to between $2,800 and $3,100 before bouncing back toward $4,000 due to the gradual effect of growing spot ETF demand.
• Fournier recommended maintaining exposure to the potential for positive momentum in ether. However, he still favors bitcoin because "the hype and inflows are already priced in for the second largest digital asset by market capitalization."
• Several spot Ethereum ETFs from BlackRock, Fidelity, Bitwise, VanEck, 21Shares, Invesco, Franklin Templeton and Grayscale are expected to commence trading on Tuesday.

Mt. Gox transfers small amount of bitcoin to Bitstamp

• Blockchain analytics platform Arkham identified one recipient address as belonging to the centralized exchange Bitstamp.
• Bitstamp is among the five firms selected to manage Mt. Gox repayments, previously confirming it aims to redistribute bitcoin to creditors "as soon as possible" upon receipt.
• Bitbank and SBI VC Trade have already received and seemingly distributed their portions of the repayments.
• Kraken received funds from the defunct bitcoin exchange last week and is expected to distribute them by the end of the month.
• BitGo has yet to receive its allocation for creditors.

The top Harris VP contenders on Polymarket

• North Carolina Gov. Roy Cooper and Pennsylvania Gov. Josh Shapiro are the top contenders for Harris's potential VP pick, each with 28% odds on Polymarket.
• President Biden endorsed Kamala Harris to replace him as the Democratic Party's nominee, though she has yet to secure the nomination officially.
• Other potential VP candidates include Arizona Sen. Mark Kelly, Michigan Gov. Gretchen Whitmer, Kentucky Gov. Andy Beshear, Illinois Gov. J.B. Pritzker, Maryland Gov. Wes Moore and Transportation Secretary Pete Buttigieg.

Japan's Metaplanet buys an additional $1.2 million worth of bitcoin, shares jump 21%

• The acquisition brings Metaplanet's total bitcoin holdings to 245.99 BTC, valued at approximately $16 million.
• Metaplanet has made multiple bitcoin acquisitions over the past few months, with an average purchase price of about $63,250 per bitcoin.
• In May, the company announced that it had started adopting bitcoin as a strategic treasury reserve asset in response to Japan's notably high government debt levels, prolonged periods of negative real interest rates and a weakening yen.

OKX launches bitcoin price guessing game as Telegram mini-app craze continues

• OKX is the first major centralized crypto exchange to release a Telegram mini-app, tapping into the growing trend for simple clicker games like Hamster Kombat, Notcoin and Yescoin.
• While OKX did not clarify what, if any, incentive model exists for OKX Racer, interest in these games is generally driven by the expectation of an airdrop to points holders for game-related tokens launched on TON, a blockchain closely linked with Telegram.

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