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

Financial Conduct Authority (FCA) of the United Kingdom has released a new guideline FCA has observed an increasing use of memes in crypto communications without firms realizing the need to comply The development affects meme coins including Dogecoin and PEPE The Financial Conduct Authority (FCA) of the United Kingdom has released a new guideline aimed at addressing the noncompliance of crypto memes with promotional guidelines. The FCA has observed an increasing use of memes in crypto communications without firms realizing the need to comply with its guidelines. FCA’s development affects meme coins This development potentially impacts meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE), which were created as internet memes and often communicate with their communities using memes. The FCA emphasizes that these meme coins should adhere to its guidelines or face potential legal consequences, including a two-year jail term. The FCA guideline suggests that crypto memes promoting digital currencies may require a disclaimer to comply with advertising standards. The introduction of regulations by the FCA is not unprecedented in the digital currency ecosystem, and established projects like Dogecoin (DOGE) have experienced similar regulatory scrutiny in the past. Meme coins are known for their volatility, and the sharing of memes can significantly influence the price movements of these assets. This is particularly evident when influential figures like Elon Musk engage in sharing Shiba Inu themes, which some interpret as signals for the underlying asset.

Cathie Wood, the CEO of ARK Investment Management, has reaffirmed her bullish stance on Coinbase, one of the leading cryptocurrency exchanges, despite ARK’s recent sale of COIN stocks. Wood’s optimism comes in the wake of Ripple’s partial victory over the Securities and Exchange Commission (SEC) on July 13. This ruling, while not entirely in favor of Ripple, has been viewed as a positive development for the broader crypto industry, particularly for crypto exchanges. Moreover, Wood’s confidence aligns with other experts who believe that this ruling could have significant implications for Coinbase and its ongoing legal battles with regulatory authorities. Ripple Court Ruling: A Boost for Crypto Exchanges and Coinbase The recent court ruling in favor of Ripple against the SEC has sparked reactions within the crypto industry. Cathie Wood, along with several industry pundits, has lauded the ruling, recognizing its potential positive impact on Coinbase and other exchanges. The court found that XRP tokens sold to retail investors on crypto exchanges were not securities, setting a precedent that could favor Coinbase and Binance in their legal disputes with the SEC. Wood, in a video posted on Bloomberg’s Twitter handle, emphasized that despite receiving a Wells notice in March and facing a lawsuit from the SEC in June, Coinbase’s share price demonstrated resilience, suggesting the robustness of its stock value. The CEO’s bullish comments come after ARK Investment Management recently sold a significant number of Coinbase shares, with three of its ETFs cashing in on the exchange’s rally. Despite these sales, Wood’s bullish outlook on Coinbase remains unshaken. The cryptocurrency exchange’s share price, which started the year at $33.60, has surged over 184%, reaching $105.55 at the time of publication. However, while industry players increasingly express optimism toward Coinbase, analysts from Berenberg Capital Markets caution that various regulatory challenges for crypto exchanges are yet to be fully resolved. Regulatory Concerns Linger Despite Coinbase’s Resilience Despite Coinbase’s strong performance and Wood’s optimism, regulatory uncertainties persist within the crypto exchange sector. Berenberg Capital Markets analysts highlight unresolved aspects of crypto exchange regulation, including concerns about Coinbase Earn, a product that offers yield on crypto staking. The comments made by Judge Analisa Torres raise questions about the potential classification of Coinbase Earn as a security, signaling the need for further clarity in this area. Nevertheless, Wood’s continued bullish stance on Coinbase following the Ripple court ruling reflects her confidence in the exchange’s ability to navigate regulatory challenges successfully. It is also crucial to acknowledge that the evolving regulatory landscape and ongoing legal battles with the SEC require careful monitoring. Achieving clarity and resolution in crypto exchange regulation remains essential to ensure the long-term stability and growth of the industry.

Bullish GMT price prediction for 2023 is $0.2957 to $0.4022. STEPN (GMT) price might reach $1 soon. Bearish GMT price prediction for 2023 is $0.1739 In STEPN (GMT) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about GMT to analyze the future movement of the cryptocurrency. STEPN (GMT) Current Market Status Current Price $0.2419 24 – Hour Trading Volume $302,872,082 24 – Hour Price Change 6.66% down Circulating Supply 1,104,192,453 GMT All – Time High $4.11 (on Apr 28, 2022) GMT Current Market Status (Source: CoinMarketCap) What is STEPN (GMT)? STEPN (GMT) is the governance token of STEPN. STEPN is a move-to-earn (M2E) NFT game built on top of the Solana blockchain. This web3 lifestyle app was created by the Australian firm, FindSatoshiLabs and launched in late 2021. STEPN uses a dual token model: Green Metaverse Token (GMT) and Green Satoshi Token (GST). GMT serves as the governance token whereas GST is used for purchasing the in-game elements such as STEPN’s famous NFT Sneakers. Notably, STEPN enables users to earn cryptos for running, walking, or jogging. STEPN (GMT) Price Prediction 2023 STEPN (GMT) ranks 115th on CoinMarketCap in terms of its market capitalization. The overview of the STEPN price prediction for 2023 is explained below with a daily time frame. GMT/USDT Descending Channel Pattern (Source: Tradingview) In the above chart, STEPN (GMT) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts. At the time of analysis, the price of the STEPN (GMT) was recorded at $0.2419. If the pattern trend continues, the price of GMT might reach the resistance levels of $0.2905, $0.5091, and $0.6562. If the trend reverses, then the price of GMT may fall to the support of $0.1834. STEPN (GMT) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of STEPN (GMT) in 2023. GMT/USDT Resistance and Support Levels (Source: Tradingview) From the above chart, we can analyze and identify the following as the resistance and support levels of STEPN (GMT) for 2023. Resistance Level 1 $0.2957 Resistance Level 2 $0.4022 Support Level 1 $0.2246 Support Level 2 $0.1739 GMT Resistance & Support Level As per the above analysis, if STEPN’s (GMT) bulls take the lead, it might hit and break through its resistance level of $0.4022. Conversely, if STEPN’s (GMT) bears dominate the trend, the price of GMT might plunge to $0.1739. STEPN (GMT) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of STEPN (GMT) are shown in the chart below. GMT/USDT RVOL, MA, RSI (Source: Tradingview) The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. The resulting ratio is known as the “relative volume,” which can help traders identify unusual trading activity and changes in market sentiment. High relative volume readings suggest that there is increased interest in the asset, which may indicate a potential trend reversal or breakout. Conversely, low relative volume readings may indicate a lack of interest or a consolidation period. At the time of analysis, the RVOL of STEPN (GMT) was below the cutoff line, denoting weak participants trading in the current trend. The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above its 50MA, it is considered to be in an uptrend (bullish), if laid below 50MA, it is in a downtrend (bearish). Notably, in the above chart, the GMT price lies above 50 MA (short-term), indicating its upward trend. Hence, it can be concluded that GMT is in a bullish state. Although this is the current state, a trend reversal might occur. Next up is the Relative Strength Index (RSI). This analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value is expressed as a number between 0 and 100, with readings above 70 indicating an overbought state and readings below 30 indicating an oversold state. Significantly, traders often use the RSI to identify potential trend reversals or to confirm the direction of a trend. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI reaches an oversold reading of 30, it may suggest that the asset could potentially reverse direction. Markedly, during analysis, the RSI of GMT is at 68.21. This denotes that GMT is in nearly overbought state. STEPN (GMT) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of STEPN (GMT) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI). GMT/USDT ADX, RVI (Source: Tradingview) To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100. According to the data on the above chart, the ADX of GMT lies in the range of 24.2665 pointing out a weak trend. The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of GMT lies above 50, indicating high volatility. Comparison of GMT with BTC, ETH Let us now compare the price movements of STEPN (GMT) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs GMT Price Comparison (Source: Tradingview) From the above chart, we can interpret that the price action of GMT is similar to BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of GMT also increases or decreases respectively. STEPN (GMT) Price Prediction 2024-2030 With the help of the aforementioned technical analysis indicators and trend patterns, Let us predict the price of STEPN (GMT) between 2024 and 2030. STEPN (GMT) Price Prediction 2024 If bulls dominate the price momentum and trend patterns, then STEPN (GMT) might successfully test and surpass its resistance levels to hit $1.6 by 2024. STEPN (GMT) Price Prediction 2025 The significant upgrades in the STEPN ecosystem might persuade the entry of an increased number of investors. This may eventually boost the STEPN (GMT) price to reach $1.7 by 2025. STEPN (GMT) Price Prediction 2026 If STEPN (GMT) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $1.8. STEPN (GMT) Price Prediction 2027 STEPN (GMT) might sustain major resistance levels and continue to be recognized as a good investment option. If it stands so in the market, GMT would rally to hit $1.9. STEPN (GMT) Price Prediction 2028 If STEPN (GMT) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, GMT would hit $2 by 2028. STEPN (GMT) Price Prediction 2029 If investors flock in and continue to place their bets on STEPN (GMT), then the crypto would witness major spikes. Hence, GMT might hit $2.1 by 2029. STEPN (GMT) Price Prediction 2030 If the trend momentum aligns in favor of STEPN, then the GMT price is expected to rally to $2.2 by 2023. Furthermore, GMT would hold a positive market sentiment and be recognized as a long-term investment with highly profitable ROI. Conclusion If STEPN (GMT) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish STEPN (GMT) price prediction for 2023 is $0.4022. Relatively, the bearish STEPN (GMT) price prediction for 2023 is $0.1739. If there is a positive elevation in the market momentum and investors’ sentiment, STEPN (GMT) might hit $1. With future upgrades and advancements in the STEPN ecosystem, GMT might surpass its current all-time high (ATH) of $4.11 on November 21, 2021 and mark its new ATH. FAQ 1. What is STEPN (GMT) ? STEPN (GMT) is the governance token of STEPN. STEPN is a move-to-earn (M2E) NFT game built on top of the Solana blockchain. 2. Where can you buy a STEPN (GMT)? Traders can trade STEPN (GMT) on the following cryptocurrency exchanges such as Binance, Deepcoin, CoinW, Bybit, and Bitrue. 3. Will STEPN (GMT) record a new ATH soon? With the ongoing developments and upgrades within the STEPN platform, STEPN (GMT) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of STEPN (GMT)? STEPN (GMT) hit its current all-time high (ATH) of $4.11 On April 28, 2022. 5. What is the lowest price of STEPN (GMT)? According to CoinMarketCap, GMT hit its all-time low (ATL) of $0.1003 on March 11, 2022. 6. Will STEPN (GMT) hit $1? If STEPN (GMT) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon. 7. What will be the STEPN (GMT) price by 2024? STEPN (GMT) price might reach $1.6 by 2024. 8. What will be the STEPN (GMT) price by 2025? STEPN (GMT) price might reach $1.7 by 2025. 9. What will be the STEPN (GMT) price by 2026? STEPN (GMT) price might reach $1.8 by 2026. 10. What will be the STEPN (GMT) price by 2027? STEPN (GMT) price might reach $1.9 by 2027. Top Crypto Predictions Injective (INJ) Price Prediction 2023 Osmosis (OSMO) Price Prediction 2023 Shiba Inu (SHIB) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Up to this point, the cryptocurrency exchange has burned 48 million BNB coins. The BNB burn portal suggests that the next burn will remove around 2,097,345.77 BNB. According to the BNB burn portal, Binance will burn 1.99 million BNB tokens as part of its 24th quarterly burn mechanism. To reduce the total number of BNB tokens in circulation, Binance has implemented a process called BNB Auto-Burn. The BNB price has been stuck around the $250 mark for almost a month while the Binance vs. SEC case drags on. According to the numbers, Binance would burn approximately 2 million BNB tokens, with a market value of around $619 million. There are now 155,848,103 BNB in circulation. Auto-Burn System On Twitter on July 18th, Binance announced the quarterly BNB burn. For the 24th quarterly burn, Binance has used the BNB Auto-Burn system to burn 1.99 million BNB tokens. Included in the most recent quarterly BNB burn is BNB burnt under the Pioneer Burn Program. Up to this point, the cryptocurrency exchange has burned 48 million BNB coins. To keep the supply of BNB at 100,000,000, an Auto-Burn mechanism is used. Based on the BNB pricing and the number of blocks created on the BNB Smart Chain (BSC) throughout the quarter, the mechanism determines the quantity of BNB to be burnt. The BNB burn portal suggests that the next burn will remove around 2,097,345.77 BNB. Current indicators, however, point to a further rise in BNB tokens for the 25th quarterly token burn. Binance’s 23rd quarterly BNB burn, valued at $542 million, took place on April 14 and included the removal of 2,020,132.25 BNB tokens. At that time, it was predicted that 2,009,639.84 BNB will be burned in the 24th quarter. Highlighted Crypto News Today: FSB Proposes Stringent Crypto Regulation Standards to G20 Nations

Data shows that Litecoin whales have deposited a large amount of the asset to exchanges during the past day, a sign that may be bearish for LTC. Litecoin Whales Have Made Significant Exchange Inflows In 24 Hours According to data from the cryptocurrency transaction tracker service Whale Alert, several large transfers have taken place on the LTC blockchain during the past day. In total, there have been four such transactions, with the largest of them involving the movement of 500,000 LTC (around $46 million at the time the transfer went through). While the other three interestingly all saw the same number of tokens moving on the network: 78,760 LTC (the USD price fluctuated between each of these transactions, but on average, the stacks were worth $7.2 million at the time of movement). As all these transactions are so large, it’s possible that whale entities were behind them. The whales are generally influential beings in the market, as they hold very large amounts in their wallets. Thus, their movements are usually something to look out for, as they may precede volatility in the price. Naturally, how the price may be influenced by these humongous investors’ transfers depends on what exactly they wanted to achieve with said transactions. Here are some additional details regarding the largest of today’s transfers, which may help shed some light on the context surrounding it: As you can see above, the sending address in the case of this Litecoin transfer was an unknown wallet, meaning that it was unattached to any known centralized platform. Such addresses are usually investors’ personal wallets. The receiving address, on the other hand, was connected to a centralized platform: the cryptocurrency exchange Binance. Transfers like this where coins move from self-custodial wallets to exchanges are called “exchange inflows.” Usually, one of the major reasons why holders may deposit their coins to exchanges is for selling-related purposes, so exchange inflows can have bearish effects on the price. It’s possible that the whale here also made this deposit with a similar intention. Naturally, if it’s truly the case, the price could feel visible negative effects from it, considering the scale of the transaction. As for the other three transactions that were all of the exact same scale, two of these transfers were inflows similar to this one, while the remaining one was an outflow. Two of these transfers (both inflows) shared the same sending and receiving addresses, making it likely that the same whale might have been behind the deposits. The outflow’s receiving address doesn’t match any of the transactions from today, so it’s unknown if it’s related to them. However, it involves the exact same number of coins as the two inflows, so it raises suspicion that the same whale entity may have been behind it after all. In any case, one reality continues to stand: there were total net inflows of $53.2 million in the last 24 hours, which can act as a source of significant selling pressure in the market for the cryptocurrency. LTC Price At the time of writing, Litecoin is trading around $91, down 6% in the last week.

Traditional financial institutions advocated for more crypto restrictions. Gandhinagar, Gujarat in eastern India has been the location of the third conference. Finance Minister Nirmala Sitharaman of India, which is now holding the G20 chair, said on Tuesday that the G20 embraced the recommendations of the Financial Stability Board (FSB) on crypto asset activity and global stablecoin arrangements. After several claims of criminal behavior surfaced during crypto’s recent rocky year. The international standard-setter FSB recommended on Monday stricter standards for protecting crypto customers’ funds and preventing conflicts of interest. Traditional financial institutions advocated for more crypto restrictions throughout the consultation process. While crypto exchanges like Binance and Coinbase had earlier voiced concerns that stricter regulations may stifle innovation. Stance on Crypto Regulation Sitharaman said that the G20 supports the FSB’s suggestions for control of stablecoins. Despite the fact that it has been previously reported that the G7 and G20 are at odds over how to regulate stablecoins. Gandhinagar, Gujarat in eastern India has been the location of the third conference of finance ministers and central bank governors under India’s presidency. And it was there that the announcement was made. According to Sitharaman, talks lasted far into the night on Monday. And during that time, India’s presidential note on crypto was submitted. Local sources have suggested that the memo was meant to summarize the efforts of many different nations and organizations. Although, it is unclear what the note really stated. In September, the G20 will get not just the FSB’s proposals but also a synthesis paper from the FSB and the International Monetary Fund (IMF) on the global macro implications of cryptocurrencies. The G20 will settle on its stance on cryptocurrency during India’s chairmanship at that time. Highlighted Crypto News Today: Ethereum (ETH) Sets Impressive Record, Reports Unveil Monumental Milestone

LAS VEGAS–(BUSINESS WIRE)–#Linux—Tachyum® today released a paper “Credit Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy®” explaining how Prodigy, the world’s first Universal Processor, can transform transactional banking while minimizing the monetary and environmental costs of blockchain’s electrical energy requirements. With Blockchain, transactions are transmitted directly from payer to payee (person to person) without an intermediary. According to PricewaterhouseCoopers, 77 percent of FinTech businesses are either currently using blockchain or transitioning to blockchain-based products and services. Credit Unions in particular are leading the trend toward blockchain-based banking products and services, just as the industry once led the transition to internet banking as well as other technologies widely adopted later by the commercial and consumer banking sector. “Blockchain and cryptocurrency already raise legitimate concerns about unsustainable energy consumption, but as the technology becomes more widespread in financial services, we’re going to see consumption increase to an alarming level,” said Dr. Radoslav Danilak, founder and CEO of Tachyum. “We cannot possibly build thousands of power plants worldwide to supply electricity for blockchain, so the real solution is greater compute efficiency—in other words, faster processing that is far more energy-efficient—such as Prodigy.” Blockchain uses vastly more energy than centrally controlled banking systems. Currently, electricity use for crypto-assets is 120-240 billion kilowatt-hours per year, which exceeds the total annual electricity consumption of entire nations, such as Argentina or Australia. Prodigy offers a compute fabric to proliferate blockchain with optional [Central Bank] Digital Currency (CBDC) banking. A 128-core processor, Prodigy runs at clock speeds over 5GHz, outperforming all other CPU platforms in normal data center workloads and delivering extremely high hashing function performance required for blockchain banking. Prodigy achieves this performance using one-tenth the power (core vs. core), which slashes the TCO of hyperscale data center operations to one-fourth that of its closest competitors. As a universal processor, the patented Prodigy architecture enables it to switch seamlessly and dynamically from normal CPU tasks to AI/ML workloads, so it delivers high AI/ML performance in both training and inference. AI/ML is increasingly important in the banking industry, and used to identify fraud and cyberattacks before serious financial damage can be done. Prodigy delivers unprecedented data center performance, power, and economics, reducing CAPEX and OPEX significantly. Because of its utility for both high-performance and line-of-business applications, Prodigy-powered data center servers can seamlessly and dynamically switch between workloads, eliminating the need for expensive dedicated AI hardware and dramatically increasing server utilization. Tachyum’s Prodigy delivers performance up to 4x that of the highest performing x86 processors (for cloud workloads) and up to 3x that of the highest performing GPU for HPC and 6x for AI applications. Those interested in reading the full paper can download a copy at https://www.tachyum.com/resources/whitepapers/2023/07/18/credit-unions-blockchain-cbdc-fintech-and-tachyum-prodigy/. Follow Tachyum https://twitter.com/tachyum https://www.linkedin.com/company/tachyum https://www.facebook.com/Tachyum/ About Tachyum Tachyum is transforming AI, HPC, public and private cloud data center markets with its recently launched flagship product. Prodigy, the world’s first Universal Processor, unifies the functionality of a CPU, a GPU, and a TPU into a single processor that delivers industry-leading performance, cost, and power efficiency for both specialty and general-purpose computing. When Prodigy processors are provisioned in a hyperscale data center, they enable all AI, HPC, and general-purpose applications to run on one hardware infrastructure, saving companies billions of dollars per year. With data centers currently consuming over 4% of the planet’s electricity, predicted to be 10% by 2030, the ultra-low power Prodigy Universal Processor is critical to continue doubling worldwide data center capacity every four years. Tachyum, co-founded by Dr. Radoslav Danilak is building the world’s fastest AI supercomputer (128 AI exaflops) in the EU based on Prodigy processors. Tachyum has offices in the United States and Slovakia. For more information, visit https://www.tachyum.com/. Contacts Mark Smith JPR Communications 818-398-1424 [email protected]

XRP, the native token of the Ripple network, has reportedly surpassed Bitcoin in trading volume on the weekly average. The digital asset, following a significant legal win last week, now claims 21% of all cryptocurrency trade volume over the last week. This achievement is just one of many in Ripple’s recent journey in the spotlight. Ripple’s presence in the news lately owes to a landmark court decision in its favor. The United States Securities and Exchange Commission (SEC) had initially taken legal action against the firm, accusing it of selling unregistered securities. However, a federal judge in New York has recently declared that XRP is only security when sold directly to institutional investors under specific written contracts. And when the token was sold to retail investors on crypto exchanges, it is not deemed a security. This verdict led to major cryptocurrency exchanges relisting XRP, causing a subsequent surge in demand and trading volume. Ripple Through The Market Last week’s court decision catalyzed a rally for XRP, as its price experienced an approximate 65% increase. The relisting on various platforms, following the victory in court, ignited significant interest in the token and pushed trading volumes to new heights. However, it is worth noting that XRP has experienced a 20% drop in value after reaching its recent peak. Yet, this has not seemed to have put a damper on the market sentiment for XRP. The recent spike in weekly trading volume highlights the increased interest and activity surrounding the token. Over the past 7 days, XRP has seen a surge of 59.4% in both its market cap and price. XRP market capitalization has spiked from a cap low of $25 billion earlier last week to as high as over $39 billion as of today. In addition, the asset’s price has also moved from as low as $0.47 earlier last week to trade above the $0.74 mark at the time of writing. The token’s present value translates to an increase of nearly 3% for the digital asset in the past 24 hours. Bitcoin’s Stumble Bitcoin, on the other hand, appears to have hit a stumbling block. Despite multiple attempts, Bitcoin has struggled to push past the $30,000 mark. Although Bitcoin remains a leading actor in the cryptocurrency market, XRP’s recent surge in weekly trading volume has momentarily eclipsed Bitcoin’s longstanding volume dominance. Over the past 24 hours, Bitcoin has surpassed and also slipped below the $30,000 mark. Particularly, the largest asset by market capitalization currently has a 24-hour high of $30,290 and a 24-hour low of $29,792. This price action has shown how the asset has thrived to break above the $30,000 resistance. Meanwhile, in the past few days, BTC’s market cap has seen a decline of over $30 billion. The asset’s market cap has plunged from $591 billion seen last Tuesday to a valuation of approximately $579 billion, as of today. Featured image from Unsplash, Chart from TradingView

Firm Celebrates Eight Year Anniversary in July After Raising $550M in the Last 18 Months NEW YORK–(BUSINESS WIRE)–#158M—CoinFund, a leading cryptonative investment firm and registered investment adviser, today announces the close of $158 million (M) CoinFund Seed IV Fund LP (“Seed IV” or “The Fund”), backed by a combination of sophisticated institutional investors, family offices, and high net worth individuals. CoinFund Seed IV LP exceeded its initial target fundraising goal of $125M. The Fund will support pre-seed and seed stage investments in new and ambitious founding teams across the web3 ecosystem. The CoinFund team is proud to head into its ninth investment year after raising over $550M in the last 18 months across venture and liquid investment strategies. Founded in 2015 at a Brooklyn kitchen table by Highbridge Capital Management and Amazon alum Jake Brukhman, and later joined by co-founder and American Capital alum Alex Felix, CoinFund is now supported by a world class interdisciplinary global team of nearly 30 people with more than 100 investments across six investment vehicles. In the face of reported industry headwinds, the most recent Fund is emblematic of CoinFund’s commitment to steward thoughtful, long-term investment in blockchain technology with a clear, yet non-consensus view of how next generation applications will be built on web3 rails. “As CoinFund enters its ninth year, we continue to raise the bar for ourselves, our investors, and our portfolio companies,” said CEO and Co-Founder, Jake Brukhman. “Our investors have shown deep confidence in our people and strategy by continuing to allocate capital to our products in a bear market. Over the last two years, we’ve built a truly institutional grade firm, the model of a large professional manager in web3. On the portfolio side, we are more bullish on the industry than ever and continue to invest in platform resources and personnel to help navigate a nascent and sometimes opaque category and support the growth of each portfolio company. CoinFund is proud to identify and back emergent teams and technologies before they trend.” In addition to the close of Seed IV, CoinFund is proud to announce a new mission and vision for the firm: CoinFund champions the leaders of the new internet – powered by foresight as active investors to achieve extraordinary results. The mission statement will anchor operations and developing brand work as the firm amplifies its story among leading entrepreneurs and crypto talent and builds out post-investment services for its portfolio companies. Speaking to CoinFund’s mission, CIO and Co-Founder Alex Felix said, “Being a champion is more than writing a check. It’s being present, celebrating and promoting the smaller, everyday efforts that ultimately lead to significant achievements and large outcomes. And we do this for more than just our entrepreneurs. We are in service to the crypto ecosystem, the leaders of the new internet, pursuing ideal conditions for founders to flourish and their technologies to thrive by unlocking our networks and fostering education.” In the last month alone, CoinFund has announced investments in Cloudburst Technologies’ cyberthreat intelligence for digital currency fraud; ML compute protocol Gensyn; Giza, an AI platform for smart contracts and web3 protocols; Cosmos layer 1 blockchain Neutron; and Robert Leshner’s Superstate, building blockchain-based financial products. The formidable CoinFund investment team focused on deploying this capital into seed-stage deals is led by Managing Partners Jake Brukhman (focus areas currently include decentralization technologies and infrastructure, AI x web3); Alex Felix (marketplaces, infrastructure, financial services); Seth Ginns (cross-vertical liquid investing); David Pakman (NFTs, consumer, infrastructure) and Chris Perkins (financial convergence, tokenization, CeFi.) The Investment team includes Vangelis Andrikopolous, Austin Barack, Einar Braathen, Evan Feng, Christian Murray, Rishin Sharma and Isaiah Washington. Areas of expertise include ZK/ML/AI; DeFi; Layer 2s; consumer services, gaming, NFTs and DAOs; infrastructure including nodes, security, analytics, middleware, interoperability and scalability, and emerging markets. 2023 has also been a year of exciting organizational developments and growth for CoinFund, further evidenced by its recent appointments of Dilveer Vahali as Head of Venture Legal, Jules Mossler as Head of Marketing & Communications and Jenna Pilgrim as Head of Platform. The firm continues to seek talented investors; applicants may visit the CoinFund job board for more information on CoinFund and portfolio company roles. The close of Seed IV comes after the recent announcement of CESR, the composite ether staking rate, announced by CoinFund in collaboration with CoinDesk Indices. CESR is a global floating rate benchmark derived from the daily transaction fees and staking rewards emitted from the Ethereum Proof of Stake (PoS) blockchain, enabling the proliferation of loans, bonds, futures, swaps, other derivative products and financial instruments that reference the index. By playing a fundamental role in the building of the web3 economy, CESR is a key example of CoinFund’s continued investment in and support for the growth and maturity of web3 and its mainstream convergence. — ENDS — About CoinFund CoinFund is a web3 and crypto focused investment firm and registered investment adviser founded in 2015 with the goal of shaping the global transition to web3. The firm invests in seed, venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure. The CoinFund team has studied and supported the development of the blockchain space from the inception of the first decentralized networks, and come from diverse backgrounds in investing, engineering, computer science and law. For more information, including a list of portfolio companies, please visit coinfund.io. Contacts Orlagh Lyons [email protected]

ETH locked in the ETH 2.0 deposit contract reaches a new peak of 25,937,766 ETH Despite some validators withdrawing, many continue to deposit or increase their ETH holdings The number of nonzero wallets for ETH hits an all-time high of 102,913,926, According to analytics firm Glassnode, there has been a notable surge in the amount of Ethereum locked in the ETH 2.0 deposit contract, reaching a new peak of 25,937,766 ETH. This milestone was previously achieved after the Shanghai upgrade in April, allowing withdrawals from the ETH 2.0 deposit contract. Validators continue to stake Ethereum Despite some validators withdrawing their funds, many continued to deposit or increase their Ethereum holdings in the staking contract. This surge in deposits reflects a high level of confidence in the future potential of Ethereum and the opportunities it presents for validators, dApp builders, and other users. Alongside the record-breaking Ethereum deposits, there have been other notable achievements, such as the number of nonzero wallets for ETH reaching an all-time high of 102,913,926. The growing gas usage, measured as a 7-day moving average, has also seen a notable increase, reaching a one-month high of 48,074.464. This indicates a rise in activity on the Ethereum network, the second-largest blockchain platform. Notably, the upward trend in Ethereum fees this year can be attributed to the popularity of meme coins like PEPE, Shiba Inu, LADYS, and others. The surge in gas usage demonstrates increased engagement and transactions taking place within the Ethereum ecosystem.