The Shiba Inu price has established a promising uptrend in the 1-day chart since June 10, which could catapult the price 24% higher. However, SHIB investors should remain cautious, as NewsBTC reported a few days ago. A downward break of the said uptrend could push the SHIB price back into the longer-term downtrend, which has been in place since early February. A decision is likely to be forthcoming by the end of the month! Shiba Inu Price Prediction From a technical perspective, Shiba Inu has established a new uptrend over the last month which has pushed the price up 29% from the local low at $0.00000597. As can be seen in the 1-day chart, SHIB has so far defended this trend with flying colors. The expectations for the launch of Shibarium at the ETHToronto conference in mid-August could certainly play a role in this. In the meantime, however, SHIB is currently struggling with support at the 20-day EMA line. Over the last two days, SHIB has always managed to close above the support at the end of the trading session. In case the altcoin closes above the technical indicator today as well, the uptrend (black line) would be defended once again. A new bounce towards the 23.6% Fibonacci retracement level could be possible. So far, SHIB has failed to close above the $0.00000832 resistance on a daily basis in three attempts. But, as explained at the beginning, a decision could be forthcoming by the end of the month. At that time, the resistance line of the 23.6% Fibonacci level and the rising trend line meet. Both lines form an ascending triangle formation, which signals a weakening resistance and an imminent breakout to the upside. The higher lows indicate that bulls are gaining the upper hand in the market. If confirmed, SHIB could rise towards the 200-day exponential moving average (EMA), which currently sits at $0.00000953, close to the psychologically important resistance level of $0.00001. At that point, greater selling pressure should be expected. Based on the current price level, SHIB might have a 24% rally. If the breakout above the $0.00000832 resistance fails in another attempt, the bulls would have time until around the end of July / beginning of August to validate the ascending triangle formation. Otherwise, a plunge towards support at $0.00007, where the upper line of the longer-term downtrend channel is located, could be imminent. Defending this price level would be crucial. Otherwise, the yearly low at $0.00000597 could be once again on the table. However, with the imminent launch of Shibarium in less than a month, this seems to be the less likely scenario. Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Cryptocurrency investments carry inherent risks, and readers are advised to conduct their own research.

BNB Chain, a distributed blockchain network upon which developers can build decentralized applications (DApps), has taken a remarkable stride forward by introducing updates for its Beacon Chain and the latest layer-2 opBNB. This announcement has sent waves of anticipation throughout the crypto community, igniting curiosity about the response of the BNB token to this highly positive development. With the impending launch of the BNB Beacon Chain Mainnet ZhangHeng Upgrade scheduled today (July 19), all eyes are eagerly fixed on the cryptocurrency’s performance as investors and enthusiasts brace themselves for what lies ahead. BNB Chain Set For Hard Fork Upgrade BNB Chain is gearing up for an eagerly anticipated hard fork upgrade at block height 328,088,888. This upgrade holds significant potential for the network’s future growth and development. BNB Chain has partnered strategically with NodeReal, a leading provider of scalable, reliable, and efficient blockchain solutions. As part of this collaboration, NodeReal’s platform now grants users access to opBNB’s explorer, offering enhanced visibility and transparency into the thriving opBNB ecosystem. According to Coingecko, BNB is priced at $241.15. However, recent market fluctuations have resulted in a slight 0.7% decline within the last 24 hours and a modest 2.4% decline over the past seven days. Analyzing BNB Chain’s on-chain metrics indicates a potential continuation of this downward trend. The general mood surrounding BNB has been predominantly negative recently, and the 1-week price volatility has experienced a significant decrease, indicating a bearish market sentiment. Interestingly, BNB’s MVRV Ratio has remained relatively stable despite the weakening in price, according to a recent price report. BNB Blockchain Thrives With Impressive Usage Metrics In a positive turn of events, BNB’s weekly report highlights the blockchain’s exceptional performance in terms of usage metrics. The blockchain’s fees remained remarkably low throughout the previous week, providing users with cost-effective transactional experiences. The weekly average users of the platform surpassed an impressive 4-million milestone, reflecting the blockchain’s popularity and widespread adoption. Moreover, the weekly transactions on BNB exceeded a staggering 22 million, demonstrating the significant activity occurring on the blockchain. Looking closely at daily metrics, BNB’s average daily active users surpassed 1 million, indicating a thriving user base actively engaging with the platform’s offerings daily. Furthermore, the daily transactions soared to an impressive 3.82 million, showcasing the immense transactional volume and the blockchain’s ability to handle such high throughput. Data supporting these impressive usage metrics reveals that BNB’s Total Value Locked (TVL) has experienced a notable upward momentum over the past few weeks. This surge in TVL further signifies the growing confidence and trust users have in the blockchain ecosystem. These metrics paint a vivid picture of BNB’s immense usage and adoption, highlighting its position as a prominent blockchain platform catering to a vast and active user base. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from BNB Chain

Binance burned a total of 1,991,854.33 BNB tokens this quarter. This is expected to boost the BNB trading price in the upcoming days. Binance, the world’s largest crypto exchange, announced that it had completed its 24th quarterly burn. There is a massive amount of BNB tokens that are burned in this quarterly burn. This time, the exchange includes the Auto Burn as well as the Pioneer Burn program. On July 19, the crypto exchange Binance completed its 24th and third quarterly BNB burn in 2023. A total of 1,991,854.33 BNB tokens burned in this quarter. The approximate value of the burn is around $484,160,000. According to the report, the Pioneer Burn program has burned 747 BNB tokens, and through the auto burn, 1,991,106.82 tokens removed. Changpeng Zhao, the CEO of the crypto exchange Binance, has stated that the quarterly burn has completed, according to the public algorithm. Moreover, he mentioned that there will be some large on-chain transactions shortly. Moreover, this expected to boost the BNB trading price in the upcoming days. At the time of writing, the trading price of BNB is around $241, with a decline of over 0.28% in the last 24 hours. The trading volume of the BNB has experienced an increase of around 0.35%, according to CoinMarketCap. Highlighted Crypto News Today: With Airdrop Arkham Foundation Launches World’s First On-Chain Intel Exchange

In a recent newsletter by renowned analyst CryptoCon, a groundbreaking indicator known as the “Bitcoin DXY correlation coefficient” has captured the attention of the community. This indicator, which measures the correlation between Bitcoin and the U.S. Dollar Index (DXY), has shown remarkable accuracy in predicting Bitcoin’s price movements and signaling the beginning of bull market parabolas. According to CryptoCon, the Bitcoin DXY correlation coefficient is “one of the most interesting finds” he has come across in quite some time. In his newsletter, he explains the significance of this indicator and its implications for the future of Bitcoin’s price trajectory. Bitcoin At Onset Of A Bull Market Parabola? The analyst highlights the three distinct phases that the correlation coefficient enters during a market cycle. He states, “During a given market cycle, the correlation coefficient enters this zone in 3 phases.” These phases are represented by different colors: PURPLE: The first move into the low correlation zone, which occurs slightly before the bear market bottom. RED: The second move into the low correlation zone, marking the end of the bear market or the bottom of the cycle. GREEN: After some time, the metric returns to the low correlation zone, signaling the start of the true bull market parabola. CryptoCon emphasizes the significance of these findings, stating, “And…there are no false signals when viewed in this way, extremely interesting! I have reviewed some other observations that allude to this, but not to this level of preciseness and caliber.” Furthermore, the analyst brings attention to the influence of the U.S. dollar on Bitcoin’s parabola. He explains, “And this is from an outside factor, the Dollar. Meaning that the strength of the US dollar has great influence on when Bitcoin parabola takes place.” This correlation adds an additional layer of complexity and highlights the interplay between these two market forces. Drawing comparisons to the 2013 cycle, the analyst speculates on the potential future trajectory of Bitcoin. He suggests that the upcoming market cycle could resemble a two-curve pattern. CryptoCon states: He further elaborates on the timeframes for these curves, stating, “The first comes early and would probably end sometime in 2024. The second comes later and ends late 2025 according to my Nov 28th Cycles Theory.” The analyst also shared his price projections for the upcoming bull market parabola. He states, “As for the price target of this parabola, I will speak to the first one. Personally, I would expect it to come just over or short of ATHs. The secondary later top at 90-130k which is my personal range and projection for the cycle.” Concluding the newsletter, he emphasizes the potential opportunity that lies ahead for Bitcoin investors. He states, “So regardless of the short term, big things are on the horizon for Bitcoin according to data. And maybe… just maybe… you might not have to be as patient as you expect for it.” At press time, Bitcoin traded at $30,016.

CMC reports that the trading price of a token is $0.48, up 67% in the last 24 hours. Most Reddit users are particularly optimistic because of the magnitude of Crypto.com. Reddit users’ native token, Moons, has seen a meteoric rise in value after being listed on the crypto exchange Crypto.com. CMC reports that the trading price of a token is $0.48, up 67% in the last 24 hours. On Monday, after hearing that Kraken, a cryptocurrency exchange, was contemplating listing Moons, the price rose remarkably. Most Reddit users are particularly optimistic because of the magnitude of Crypto.com, despite the fact that it is joining a number of other exchanges that currently offer the coin (such as MEXC, Gate.io, SushiSwap, and RCP Swap). Huge Boost for the Exchange The approximately 6.5 million subscribers of the cryptocurrency subreddit (r/Cryptocurrency) are in an uproar after today’s inclusion. It is now highly possible that these millions of users to rush to Crypto.com. In 2020, the Reddit team created a community points system using an ERC-20 token Reddit Moons on the blockchain platform Arbitrum Nova. These tokens are used for tipping other users in the r/Cryptocurrency subreddit and are awarded to individuals depending on their involvement in that community. A user’s Moons are kept in their Vault, Reddit’s Ethereum-based digital wallet that was released to the whole community last year. There was speculation in the media yesterday that Kraken could list Moons on its platform; however, the exchange has now denied any such plans. Over the years, Reddit has emerged as a significant hub for proponents of digital assets. It was co-founded by Steve Huffman and Alexis Ohanian in 2005; Ohanian left the firm in 2020 to become a prominent figure in the crypto and NFT sector. Highlighted Crypto News Today: With Airdrop Arkham Foundation Launches World’s First On-Chain Intel Exchange

Kennedy proposes backing US debt with Bitcoin for financial stability. He supports exempting Bitcoin-to-USD conversions from capital gains taxes. US Presidential candidate Robert F. Kennedy Jr. has recently gained attention with his bold Bitcoin-focused policies. Speaking at a Heal-the-Divide PAC event, he stated, “Backing dollars and US debt obligations with hard assets like bitcoin could help… and prosperity.” Kennedy emphasized the potential benefits of his proposal, including restoring strength to the US dollar, reining in inflation, and ushering in a new era of American financial stability. He added, “My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver, platinum, or bitcoin.” What Lies Behind RFK’S Vision of Backing Bitcoin With the US Dollar? Highlighting the importance of citizen privacy and incentivizing growth in the USA, Kennedy. announced that his administration would exempt the conversion of Bitcoin to the US dollar from capital gains taxes. He explained, “Non-taxable events are unreportable, and that means it will be more difficult for governments to weaponize currency against free speech.” Meanwhile, he also stated that he drew inspiration from his uncle, President John F. Kennedy, stating, “He understood the relationship between fiat currency and war, fiat currency and… disparities in wealth.” And expressed his preference for base currencies that require public scrutiny and prevent the unchecked funding of wars through inflation. In addition, Kennedy’s proposal to gradually back the US dollar reflected his concerns about the nation’s mounting debt. He believes that with his vision, he could truly turn America into the global hub for cryptocurrencies. Kennedy’s Bitcoin Support, Trustable? Reiterating his commitments from the Bitcoin 2023 conference, Kennedy emphasized that Bitcoin should not be regulated as a security. Then he vowed to put an end to the current administration’s policies associated with Choke Point 2.0. It punishes banks dealing with Bitcoin. Also, RFK’s recent statement of “Backing Bitcoin with the US Dollar” raises doubts about an untrustworthy situation, considering the US government officials‘ history with crypto. And the controversy surrounding his previous denial of being a Bitcoin investor. Meanwhile, Bitcoin-focused policies also signal a potential shift in political attitudes toward cryptocurrency. Post-elections will unveil the truth. Furthermore, there is not much impact on the BTC as it is down at 0.02% with a price of $30,058. Highlighted News Today Vitalik Buterin Explores Ethereum’s Account Abstraction Challenge

Three cryptocurrencies take center stage as the race for interoperability unfolds. Chainlink (LINK) aims to accelerate the adoption of tokenized in-ground gold deposits. On the other hand, Cosmos (ATOM) has introduced an innovative feature that incentivizes liquidity providers (LPs) with higher fees. Meanwhile, VC Spectra (SPCT) leaves its competitors in the dust, revolutionizing the blockchain space with its cutting-edge technology. Discover how these cryptocurrencies are navigating the interoperable future. >>BUY SPCT TOKENS NOW<< VC Spectra’s (SPCT) Strategic Vision Fuels Interoperability Journey As 2023 progresses, a new decentralized hedge fund emerges, sweeping investors off their feet. Amidst increased market volatility, VC Spectra (SPCT) remained resilient, driving financial growth through strategic investments. VC Spectra (SPCT) puts the power of choice in the hands of investors, offering a comprehensive range of profitable blockchain ventures. The platform rewards investors with buybacks and quarterly dividends based on investment returns. Furthermore, VC Spectra (SPCT) users enjoy exclusive access to exciting ICOs and diversified portfolios.As a frontier in innovation, VC Spectra (SPCT) leverages AI trading tactics to maximize profits and minimize risk. Additionally, VC Spectra’s native token (SPCT) conforms to the BRC-20 protocol, revolutionizing asset management and exchange on the Spectra platform. The token operates on the Bitcoin blockchain and adopts a deflationary model, ensuring value preservation by gradually reducing the token supply. VC Spectra (SPCT) is currently valued at $0.008 in Stage 1 of its public presale. As Stage 2 approaches, experts indicate VC Spectra (SPCT) can rise to $0.011, indicating a 37.5% ROI. The presale will advance through subsequent stages until VC Spectra (SPCT) trades at $0.08 when listed on exchanges. >>BUY SPCT TOKENS NOW<< Chainlink (LINK) Partners with NaturesGold Token NaturesGold Token has partnered with the Chainlink BUILD program to drive the adoption of tokenized in-ground gold deposits. The collaboration aims to leverage Chainlink’s (LINK) reliable oracle infrastructure to ensure accuracy and transparency. With its support for tokenizing real-world assets, NaturesGold Token enhances the availability of decentralized applications (dApps), driving innovation within the Chainlink (LINK) ecosystem. Furthermore, service providers within the Chainlink (LINK) community can expect to receive network fees and additional benefits. Notably, 4% of the NaturesGold Token supply has been set aside to reward Chainlink (LINK) service providers, ensuring streamlined cooperation. In light of these developments, Chainlink (LINK) has surged by 35.3% in recent weeks, from $5.35 to $7.24. As Chainlink (LINK) gears up for an interoperable future, analysts indicate Chainlink (LINK) can skyrocket by 26.5% in the coming months, from $7.24 to $9.16. Cosmos (ATOM) Introduces Fee Incentives to Drive Liquidity Provision Exciting developments are underway as Cosmos (ATOM) enhances its utility and network capabilities. Firstly, Cosmos (ATOM) has unveiled a new functionality called “concentrated liquidity,” enabling liquidity providers (LPs) to define their preferred prices for crypto transactions. The recent announcement highlights Cosmos’ (ATOM) potential to significantly improve capital efficiency, with projections of a 100x to 300x increase. Furthermore, Cosmos (ATOM) recently partnered with Inter Protocol. The protocol unveiled IST Vaults, a groundbreaking addition to the IST stable token ecosystem. With Vaults, users can generate IST by utilizing interchain assets, with ATOM as the initial asset option. Finally, dYdX recently unveiled its blockchain on the Cosmos (ATOM) network. The launch paves the way for testing functionalities such as order book visibility and wallet integration. The news has attracted positive investor sentiment, pushing Cosmos’ (ATOM) price up by 22.9%, from $8.3 to $10.2. As Cosmos (ATOM) navigates the interoperable future, experts say Cosmos (ATOM) can soar by 15.7%, from $10.2 to $11.8 in the coming weeks. Learn more about the VC Spectra presale here: Presale: https://invest.vcspectra.io/login Website: https://vcspectra.io/ Twitter: https://twitter.com/spectravcfund Telegram: https://t.me/VCSpectra Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

A U.S. district judge decided that XRP was not a security after Ripple’s victory over the United States Securities and Exchange Commission; the token’s price has since surged sharply. Among the top 25 cryptocurrencies, the token native to the Ripple payment system had the best 24-hour performance. XRP has regained the number four spot by market capitalization, moving past Binance’s problematic BNB coin. Importantly, XRP held its ground, unaffected by the turmoil gripping the broader crypto market as the leading cryptocurrency Bitcoin threatens to lose its grip on the crucial $30,000 handle, and many altcoins begin the day in a sea of red. XRP is a cryptocurrency that Ripple employs to transfer funds internationally. With a market capitalization of $37.8 billion, it is the fifth-largest cryptocurrency in circulation. XRP Dominates The Weekly Timeframe According to crypto market tracker Coingecko data, XRP was trading at $0.814, an increase of nearly 10% over the previous 24 hours. At the time of writing, however, it was in the weekly timeframe that the token proved its worth, skyrocketing by nearly 68%. Bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies by market capitalization, are currently trading below their psychologically significant price levels of $30,000 and $1,500, respectively. Although Bitcoin’s price has been fluctuating around the $30,000 mark recently, Jake Boyle, Chief Commercial Officer of Australian crypto exchange Caleb & Brown, has stated that significant price changes are unlikely unless certain crucial events transpire. For the past three years, Ripple has fought the SEC on claims that the company and two of its executives made an illicit $1.3 billion in sales of XRP. Ripple has refuted these allegations, maintaining that XRP is more akin to a commodity than a security. A Watershed Moment For Ripple The SEC Ripple lawsuit’s ruling was a significant moment for cryptocurrencies. Although XRP was deemed not a security, certain token sales were classified as securities transactions. This decision sheds light on the regulatory status and classification of cryptocurrencies by the SEC, impacting the entire industry. It may trigger discussions and lead to clearer regulations for digital assets, boosting investor confidence and fostering a more stable market. The ruling’s ripple effects (no pun intended) may extend globally, influencing other countries’ regulatory approaches. Regulatory Clarity A Must As the cryptocurrency ecosystem matures, regulatory clarity becomes crucial for striking a balance between innovation and consumer protection. Market participants will closely monitor how this ruling shapes the future of cryptocurrency regulation. Meanwhile, if the court had sided with the SEC, it might have established a negative precedent for treating other cryptocurrencies, opening the door to more stringent regulations and control. This would have repercussions for any venture with an initial coin offering (ICO) or token sale, including Ripple and XRP. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Muscle & Fitness

LONDON–(BUSINESS WIRE)–Arthur D. Little (ADL) today published The Industrial Metaverse, Making the invisible visible to drive sustainable growth, the latest report from the company published under the ‘Blue Shift’ banner. These reports explore the impact of new technologies on business, society and humans. While the consumer Metaverse has fallen victim to excessive hype, the report argues that the Industrial Metaverse (Metaverse applications for business) offers enormous potential value, enhancing operational efficiency, reducing costs, and improving overall quality. It will rapidly mature to become a market conservatively worth around $400 billion in 2030 but with a potential upside of more than $1 trillion. This growth is driven by advancements in artificial intelligence, complex systems simulation, data visualization, and connectivity. The report explains how the Industrial Metaverse goes beyond existing digital twin and Industry 4.0 technologies to fully represent end-to-end, real-world industrial systems, including external elements outside the company and the environment within which it operates. This provides decision-makers with unparalleled insight that allows them to better understand the past and forecast the future. The Industrial Metaverse will therefore help companies to deal with the increasing complexity and accelerated pace of development that they face, and is especially valuable for developing effective sustainable growth strategies. Based on in-house research, client experience, and contributions from interviews with experts across industry and academia, the report outlines the background to the Industrial Metaverse, defines what it means, sets out a conceptual architecture, explores its key technological building blocks, assesses its value to business, and proposes how companies should exploit its potential. Dr. Albert Meige, Director of Blue Shift at Arthur D. Little, comments: “In an interconnected, complex and fast-moving world, businesses face enormous challenges when it comes to understanding their current operations and future opportunities. By providing a transformative tool to elevate digital simulation technology to the level of strategic decision-making the Industrial Metaverse delivers the insight required to meet these challenges. It is important to stress that its growth is independent of the consumer Metaverse, with many use cases already in existence around optimization, training, technical and management tools. Companies therefore need to consider their Industrial Metaverse strategy now in order to reap the near-term and future benefits.” To download the report, visit: https://tinyurl.com/5h6rvxdt Contacts Further information: www.adlittle.com Cate Bonthuys Catalyst Comms +44 7746 546773 [email protected]

The market cap of XRP rose 68%, making it the fourth-largest crypto asset. Major crypto exchanges such as Coinbase, Kraken, and Gemini relist XRP. The altcoin’s daily trading volume spiked 34% to $3.3 billion. XRP, the native cryptocurrency of Ripple, has witnessed a dramatic resurgence in the wake of its partial victory against the SEC last Thursday. This favorable legal victory has resulted in XRP’s relisting on major crypto exchanges, triggering a surge in demand and trading volume. Analyzing the Market of XRP Following Ripple’s favorable court verdict, XRP experienced a surge of over 68% within a week. The recent rally has propelled XRP’s market cap to hit the $43 billion mark. As a result, XRP continues to sustain its spot among the top 4 high-cap cryptocurrencies with a market dominance of 3.47%. XRP (XRP) Price Chart (Source: TradingView) The daily XRP price chart highlights the altcoin’s bullish outlook. By laying a positive crossover, the 21-day moving average crossing above the 9-day moving average, XRP displayed its upward trend. Meanwhile, the daily Relative Strength Index (RSI) at 74.5 indicates the crypto’s overbought condition. Notably, post the court’s verdict, XRP attained a one-year high of $0.9380 on the crypto exchange Binance, as per TradingView. Despite reaching this peak, the altcoin has now encountered a setback, registering a 16% drop to the $0.78 range. However, the overall market sentiment of XRP remains positive. The daily trading volume surged over 34% to reach $3,329,841,711. The rise in trading volume can be attributed to the renewed enthusiasm generated by the legal victory and the subsequent relisting of XRP on various cryptocurrency exchanges. According to CoinMarketCap, at the time of writing, XRP traded at $0.7868. A Key Turn in the SEC vs Ripple Case A significant update has occurred in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple. On Monday, Judge Analisa Torres, presiding over this case in the U.S. District Court for the Southern District of New York, has recently transferred the outstanding aspects of the case to Magistrate Judge Sarah Netburn. In the case history, Netburn’s denial of passing one of the SEC’s motions aided in the release of the Hinman docs. XRP Community awaits to witness even more crucial events in this three-year-long haul. With its legal obstacles now behind it, XRP has reestablished itself as a prominent player in the cryptocurrency realm, sparking optimism among its supporters. Recommended For You XRP (XRP) Price Prediction 2023, 2024, 2025-2030

The Arkham Foundation introduces the first on-chain intel exchange. Arkham (ARKM) token reached an all-time low of $0.6331. Arkham Intelligence, the blockchain analytics platform, has announced that Arkham Beta is complete and the platform is now available for all users. Arkham Intel Exchange is the world’s first on-chain intelligence exchange platform that allows users to buy and sell information anonymously on the owner of any blockchain wallet through smart contracts. On July 18, Arkham tweeted the launch of the Arkham Intel Exchange. The tweet mentioned that it is free to create an Arkham account to access all its features. The platform is expected to bridge the gap between on-chain analysts and traders, journalists, and researchers. Moreover, the Arkham Foundation becomes the first to introduce an on-chain intelligence marketplace. Recently, the Arkham Foundation launched its native token, Arkham (ARKM). Initially, the ARKM tokens sold on Binance Launchpad for $0.05. After that, Arkham officially launched the token, which branded as the intel to earn. At the time of writing, the trading price of Arkham is around $0.685, with a decline of 8.37% in the last 24 hours. Recently, the ARKM token reached an all-time low of $0.6331, according to CoinMarketCap. Highlighted Crypto News Today: Vitalik Buterin Explores Ethereum’s Account Abstraction Challenges

Ethereum price is finding bids above the $1,875 support zone against the US Dollar. ETH could gain bullish momentum above the $1,940 resistance. Ethereum is holding the key support near $1,875. The price is trading below $1,920 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain pace if it clears the $1,920 and $1,940 resistance levels. Ethereum Price Could Start Fresh Increase Ethereum’s price declined again below the $1,900 support. However, ETH bulls were active near the $1,875 level. It seems like a double bottom pattern is forming near the $1,875 level. A low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,900 resistance level. There was also a break above a key bearish trend line with resistance near $1,900 on the hourly chart of ETH/USD. The pair cleared the 50% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low. Ether is now trading below $1,920 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,920 level. It is close to the 61.8% Fib retracement level recent drop from the $1,944 swing high to the $1,874 low. Source: ETHUSD on TradingView.com The first major resistance is near the $1,940 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,080. Fresh Decline in ETH? If Ethereum fails to clear the $1,920 resistance, it could start a fresh decline. Initial support on the downside is near the $1,900 level. The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could open the doors for a move toward the $1,780 support level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,875 Major Resistance Level – $1,920

Bitcoin price is attempting a fresh increase from $29,500. BTC could gain bullish momentum if it clears the $30,200 resistance zone in the near term. Bitcoin is slowly moving higher from the $29,500 level. The price is trading below $30,200 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is a close above the $30,200 resistance. Bitcoin Price Aims Higher Bitcoin price followed a bearish path below the $30,200 pivot level. BTC even broke the $29,850 level and tested the $29,500 level. A low is formed near $29,500 and the price is now attempting a fresh increase. The price climbed above the $29,850 and $30,000 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The price is now consolidating near $30,000. Bitcoin price is still trading below $30,200 and the 100 hourly Simple moving average. Immediate resistance is near the $30,080 level. There is also a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC/USD pair. The trend line is near the 61.8% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The first major resistance is near $30,200. A close above the $30,200 level might start a fresh increase. Source: BTCUSD on TradingView.com The next major resistance is near the $30,500 level. Any more gains could open the doors for a move toward the $31,000 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $30,200 resistance, it could continue to move down. Immediate support on the downside is near the $29,650 level. The next major support is near the $29,500 level, below which the price could gain bearish momentum. In the stated case, the price could drop toward the $29,200 support zone. Any more losses might send the price toward the $28,750 level in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $29,650, followed by $29,200. Major Resistance Levels – $30,100, $30,200, and $30,500.

Avalanche, the smart contract platform for decentralized applications, witnessed remarkable growth in Q2 2023, driven by increased activity on the C-Chain- one of the three chains that make up the Avalanche network- and the launch of new subnets. According to a recent report by Messari, the network’s daily average active addresses and transactions on the C-Chain was increased by 132.1% and 162.2%, respectively, primarily due to a rise in stablecoin liquidity and activity from LayerZero. Avalanche’s Unprecedented Growth Per the report, despite the challenging regulatory climate, Avalanche’s financial performance improved in Q2, with revenue in AVAX increasing by 173.1% Quarter-Over Quarter (QoQ) (up 150.3% in USD terms). The increased revenue was partly due to higher transaction fees but primarily due to the activity stemming from LayerZero. The difference between the change in revenue versus market cap suggests that the overall fundamental network utility was more significant than market behavior in Q2. Avalanche concluded the quarter as the 18th largest crypto asset by market capitalization, reaching $4.5 billion. Furthermore, the platform has been launching new subnets like Evergreen Subnets and Spruce, which have ushered in partners like T. Rowe Price, WisdomTree, Wellington Management, and Cumberland. Alibaba Cloud also launched Cloudverse, a launchpad for businesses to deploy metaverses on Avalanche, and SK, one of South Korea’s largest conglomerates, launched its dedicated Avalanche Subnet, UPTN. In Q4 2022, LayerZero, an Omnichain interoperability protocol enabling cross-chain applications, launched support for BTC.b, a token representing Bitcoin on Avalanche. Compared to other natively bridged Bitcoin assets, BTC.b allows users to freely transfer native Bitcoin without relying on custodians. BTC.b adoption on Avalanche quickly grew after LayerZero’s support in Q4 2022. Avalanche NFT Secondary Sales And Unique Buyers Decrease According to Messari, the Avalanche NFT sector experienced a decline in Q2 of 2023, with secondary sales volume and the number of unique NFT buyers decreasing by 38.3% and 49.8%, respectively. However, despite the decline, Avalanche’s developer ecosystem expanded the NFT sector through new initiatives and partnerships. One such initiative was the Avaissance program, launched in Q1 to accelerate artists’ careers and catalyze the Avalanche NFT ecosystem. The program comprised an Artist-in-Residence program and the Mona Lisa Initiative for digital art curation. During Q2, 70 artists were selected to participate in the 6-month Artist-in-Residence program, and the Mona Lisa Initiative announced the initial group of participating DAOs. Superchief Gallery NFT, Zeroone, and Peek NFT, three new marketplaces also announced partnerships with Avalanche and Ava Labs to launch unique NFT marketplaces. In the gaming sector, DeFi Kingdoms continued to dominate, generating the lion’s share of transaction activity on the Avalanche network. However, several developments are underway to usher in more gaming activity from other applications. Avalanche introduced Avalanche Arcad3, a program to accelerate gaming development with partners like GREE, Loco, and TSM, and Merit Circle’s launch of Beam, a subnet catering to gamers and game developers. Gunzilla Games, Battle for Giostone (BFG), Draft Labs, Defimons, and NEOBRED announced their Avalanche launches during Q2. Overall, Q2 was a positive quarter for Avalanche, and the platform’s plans for 2023 remain robust as it seeks to remain competitive throughout the rest of the year. Despite the challenges posed by the SEC, Avalanche’s renewed network activity and expansion plans suggest that the platform is well-equipped to navigate the evolving landscape of the blockchain industry. Featured image from Unsplash, chart from TradingView.com

The ongoing bear market in Bitcoin is the longest in the network’s history, Glassnode data shows. According to trackers, the winter started on November 10, 2021, after prices peaked at over $69,000. As of July 18, 2023, BTC is trading at around the $30,000 level, down by almost 55% from its all-time high. However, despite the crash and bears persistence, recent developments suggest that the bottom might be in. Bitcoin Bear Run Over? Trackers reveal that this is the second largest phase when the coin’s prices have remained under water for this extended period. Between 2015 and 2016, which was still the formative stages of the coin when its liquidity was building up, the coin remained depressed for 386 days. BTC investors were also under pressure between 2018 and 2019 when prices drastically fell from 2017 peaks, crashing to as low as $4,000 at the depth of the crypto winter of 2018. The extended bear run from 2021 has been influenced by several fundamental factors, including the U.S. Federal Reserve’s intervention which saw the central bank take measures to tame inflation by raising interest rates in eight consecutive sessions. There have been fear factors relating to the collapse of major crypto firms, including 3AC, FTX, Voyager, and the spectacular depegging and crash of UST and LUNA. Following the collapse of FTX in November, Bitcoin prices fell to all low as $15,800 before expanding, roughly doubling in the first half of 2023. Hash Rate And BlackRock ETF Application Despite relatively low Bitcoin prices and the continuation of the bear run, the network’s hash rate is trending at a near-all-time high. As of July 18, Bitcoin’s hash rate stood at over 385 EH/s, retracing from all-time highs of 465 EH/s recorded in late June 2021. Historically, prices and hash rate are directly correlated but falling coin prices didn’t dissuade miners from buying new gear and plugging into the network, fortifying it against attacks. The hash rate measures processing power channeled to a proof-of-work network like Bitcoin. The higher it is, the more secure the blockchain is against potential attackers. Reports on July 16 indicated that the United States Securities and Exchange Commission (SEC) had accepted BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF). This is a significant milestone for the Bitcoin-related proposal and may strengthen prices if the regulator eventually approves the derivative, allowing institutions to have exposure. Presently, Bitcoin is teetering close to $30,000 and looks weak. Bulls have been unable to close above $32,000 despite BlackRock’s reapplication of the spot Bitcoin ETF. BlackRock is the world’s largest asset manager, with over $9.4 trillion in assets. The firm filed for its first spot Bitcoin ETF in June, only for changes to the made and the application to be updated before being resubmitted. It remains to be seen if the approval of an ETF marks the bottom for Bitcoin and the nascent asset class.

In recent trading sessions, Chainlink (LINK) has exhibited a bullish trend. It experienced a significant rebound from its $5 support level and has since continued on an upward trajectory. Over the past week, LINK has surged more than 12%, although its daily chart indicates a slowdown in gains. The coin formed a bullish reversal pattern, driving a substantial price surge. The technical outlook for LINK reflects bullish strength, albeit with a slight decline in demand and accumulation on the chart. In recent trading sessions, LINK has formed a pattern that suggests a potential reversal in price direction. To prevent this reversal, it is crucial for LINK to maintain its upward movement and surpass immediate resistance levels. Additionally, a slight decline in market capitalization indicates a decrease in buying strength. Chainlink Price Analysis: One-Day Chart At the time of writing, Chainlink (LINK) was trading at $6.90. The coin has demonstrated significant bullish strength following its recent reversal from the $5 level, driven by the formation of an inverted head and shoulders pattern in the last week. However, despite the upward surge, LINK may encounter resistance around the $7.30 mark, which has historically acted as a strong ceiling for the coin. This resistance is further supported by the formation of a double-top pattern (marked in red), which is considered a bearish signal. As a result, there is a possibility that LINK may experience a decline towards the local support level of $6.60 and potentially even further to $5.80 before attempting a recovery once again. Technical Analysis During the formation of the double-top pattern, there was a notable decline in buying strength, suggesting an impending bearish price movement. The Relative Strength Index (RSI) indicated a bearish divergence, indicating a decrease in demand. Although the RSI remained above the half-line, readings indicated a fading buying strength. Despite this, LINK has managed to stay above the 20-Simple Moving Average (SMA) line, indicating that buyers still have control over price momentum. However, if there is a drop from the current price level, it could lead to LINK falling below the 20-SMA (red), which could bring sellers back into the market. On the one-day chart, the altcoin has exhibited buy signals, although these signals have been experiencing a slight decline. The Moving Average Convergence Divergence (MACD) indicator, which reflects price momentum and trend reversals, has formed declining green histograms, suggesting a potential decrease in buy signals. Additionally, the Bollinger Bands, which indicate volatility, are wide open, indicating the potential for significant price volatility in the upcoming trading sessions.

Axie Infinity (AXS) continues to be one of the top performers in the market even though the bear market trend. However, an upcoming token unlock event could put an end to the alt coin’s bullish trend given the amount of tokens involved. $21.7 Million In AXS Set To Be Unlock The upcoming Axie Infinity (AXS) token unlock event is the most notable unlock happening this week. Out of the total $27.4 million in tokens set to be unlocked across the space today, AXS unlocks make up the vast majority. According to the token tracking website Token Unlocks, a total of 3.43 million tokens are set to be unlocked in four days on July 22. Going by the current price of AXS tokens at the time of this writing, this translates to $21.55 million in tokens. This next unlock will see another 2.96% of the total 270 million supply being sent back into circulation. However, unlike its last token unlock held on April 23, the entirety of this token unlock is going toward staking rewards for users of the platform. Will This Affect The Axie Infinity Token Price? The Axie Infinity (AXS) token unlock will no doubt put bearish pressure on the price of the digital asset. This is because the unlock will increase the circulating supply amid declining demand in the market. As such, AXS’s price could see a decline from July 22. However, it is important to note that as these tokens are only going toward staking, they will likely not hit the market at the same time. Such staggered introduction into the market could mitigate selling pressure, giving the buyers time to garner enough demand to offset the new supply. This is possible though as long as the general crypto market does not succumb to the bear pressure current mounting. If Bitcoin is able to recover above $31,000 once more, then coins like AXS will benefit as market sentiment recovers. Related Reading: Crypto Liquidations Cross $300 Million Amid Massive Market Recovery For now, AXS is still holding steady compared to others in the space. The altcoin is currently changing hands at a price of $6.24, recording a 0.32% decline in the last 24 hours, but seeing 6.86% gains on the 7-day chart.

Futureverse, a metaverse infrastructure and content company, has received a $54 million investment round from Ripple and other investors to create an open, scalable, and interoperable infrastructure within the metaverse industry. The company plans to roll up 11 metaverse infrastructure and content companies into a collaborative ecosystem, providing essential components for constructing any metaverse application. It also aims to become a leader in an entirely new frontier of Artificial Intelligence (AI) gaming. Ripple Invests Big In Futureverse’s Vision The firm’s comprehensive technology includes its Futureverse Platform featuring “Powered By Futureverse” tools and products, which it will develop further using the proceeds from the funding round. Futureverse is using The Root Network, a blockchain, and suite of protocols with ready-made runtimes for building next-generation metaverse apps, games, and experiences. The Root Network is integrated with Ripple’s XRP Ledger (XRPL) and supports the use of XRP as a gas token, as well as the XLS-20 NFT standard. Futureverse has been making strides in the metaverse industry, with strategic partnerships with renowned organizations such as FIFA, Authentic Brands Group, Mastercard, Wimbledon, and more. The company is run by metaverse pioneer Aaron McDonald, tech and entertainment investor/operator Shara Senderoff, technology and information security expert Marco Brondani, and Futureverse business operator Dan Gillespie. Ripple’s investment in Futureverse is a significant step towards realizing the potential of the metaverse and creating a seamless, interconnected experience for users. Ripple’s president, Monica Long, stated that the company is thrilled to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse. The Futureverse founders believe that the metaverse is the next evolution of the internet, defined by immersive convergence and data, wherein users are empowered to own and control their identity, social graph, content, and value online. With the new Ripple investment, they are confident that the Futureverse Platform will make the content layer interoperable, providing a seamless, interconnected experience for users. In conclusion, Futureverse’s series A funding round is a significant milestone for the company, with the investment from Ripple and other investors contributing to the company’s momentum. Futureverse’s vision of creating an open, scalable, and interoperable infrastructure within the metaverse industry is becoming a reality, and the company’s comprehensive technology and strategic partnerships position it as a major player in the metaverse industry. Crypto Giant Adds XRP To Its Roster According to a recent announcement, XRP has been listed on the prestigious Liechtenstein-based LCX Exchange, as of July 18th. The exchange will support three trading pairs for the token, namely XRP/USDC, XRP/EUR, and XRP/LCX. Deposits have been available since the same date and trading will start in Post-Only Mode, with full Trading Mode activated when pairs reach minimum liquidity. LCX Exchange is one of the world’s most prestigious crypto exchanges, with a reputation for offering top-quality trading services and innovative technology. The exchange’s support for XRP is a testament to the token’s credibility and market appeal, as well as its potential to drive growth in the cryptocurrency industry. According to the LCX Exchange, the addition of XRP to its platform will provide users with access to one of the most widely used cryptocurrencies in the world, with a market capitalization of over $60 billion. The exchange also noted that XRP’s low transaction fees, fast settlement times, and broad adoption make it an attractive option for traders and investors. As of the time of writing, XRP continues to maintain its position among the top four cryptocurrencies in the market in terms of market capitalization and trading volume. Over the past 24 hours, the token has experienced a significant surge, increasing by over 5% and trading at $0.7669. Featured image from Unsplash, chart from TradingView.com

Farouk Fatih Özer, the former CEO of the now-defunct crypto exchange Thodex, has been sentenced to seven months in jail. The executive was convicted for failing to submit the required documents to Turkey’s tax board. Thodex, which was once a prominent crypto exchange in Turkey, experienced an abrupt closure, leading its CEO, Farouk Fatih Özer, to flee to Albania. However, after an Interpol Red Notice was issued, Özer was deported back to Turkey to be held accountable for the approximately $2 billion worth of cryptocurrencies belonging to investors. Özer, along with 21 other defendants, is embroiled in a protracted court case facing charges of alleged fraud, money laundering, and operating a criminal network through Thodex. Throughout the trial, Özer vehemently denied any wrongdoing and asserted that he was not the official representative of Thodex at the time, which made him unable to produce the requested books. Former CEO Of Thodex Claims To Have Been “Framed” In addition to the aforementioned charges, Özer is also facing accusations of defrauding Thodex investors and is currently awaiting a hearing to address these claims. Despite the allegations, the entrepreneur maintains his innocence and asserts that the defendants have framed him. During Özer’s first court appearance in June, he denied all charges and claimed to have been framed. He stated, “I started my company and my company was hacked,” addressing the court. The legal proceedings against Özer commenced after his failure to adhere to a notification issued on October 30, 2021. The notification requested the submission of documents pertaining to his business. Despite the notification, Özer did not provide the best requested documents within the designated legal timeframe. Özer’s claim that a trustee had been assigned to oversee the company in his absence, he was unable to produce the required documents to the Tax Inspection Board. As a result, he was convicted. Initially, the prosecutor in Özer’s case requested a five-year prison sentence on charges of “smuggling” under the Tax Procedure Law. However, the court initially sentenced the crypto entrepreneur to one year and six months of imprisonment. It was subsequently reduced to seven months and 15 days. The reduction in sentences can be attributed to various factors. These included Özer’s social relations, as well as his overall behaviour and conduct throughout the trial. In April 2021, the defunct cryptocurrency exchange platform abruptly halted trading and withdrawal services. This left approximately 391,000 customers with losses amounting to around $2 billion. Following this incident, Turkish police authorities initiated a large-scale investigation into the platform.

On July 18, Buterin spoke at the Ethereum Community Conference (EthCC) in Paris. Buterin also discussed a different add-on, signature aggregation. Vitalik Buterin, Ethereum’s co-founder, has discussed some of the obstacles that have arisen throughout the process of introducing account abstraction on the blockchain, despite the fact that this new feature is seen as an impetus that might bring one billion people to Ethereum. On July 18 at the Ethereum Community Conference (EthCC) in Paris, Buterin discussed the benefits of contemporary account abstraction and the challenges that the community is now encountering with this idea. Currently, individuals wishing to send or receive ERC-20 tokens on the Ethereum network must also own Ether in order to cover the cost of internal transactions. Buterin claims that “paymasters,” which are expansions to the concept of account abstraction, may let users pay transaction fees using “whatever coins that they are transferring.” In addition to this, the plugin may facilitate user sponsorship of transactions by decentralized apps (DApps). Optimist Despite Obstacles Buterin also discussed a different add-on, signature aggregation. The functionality allows developers to save money on gas and data, according to Ethereum’s creator, by compiling signatures. Buterin acknowledged that despite the consumer advantages of account abstraction, developers still face obstacles. To convert existing Ethereum externally-owned accounts (regular user accounts) into smart contracts and to guarantee compatibility with layer-2 solutions, an Ethereum Improvement Proposal (EIP) is required. Buterin stated: Integration with other technology, like biometrics and preexisting wallets, presents extra hurdles, as Buterin pointed out. The Ethereum co-founder acknowledged the project’s challenges but expressed optimism about its future. Highlighted Crypto News Today: Binance All Set To Burn 1.99M BNB Tokens in 24th Quarterly Burn