Bitgert (BRISE) unveiled its P2P exchange plan with community support, will begin on August 1, 2023. Bitgert (BRISE) will be listed on ten major exchanges in August. Bitgert (BRISE), a leading cryptocurrency platform, has recently made a groundbreaking announcement, revealing their ambitious plans to develop a peer-to-peer (P2P) exchange. The decision was made after an overwhelming response from the community, with users enthusiastically participating in a poll to gauge interest in such an offering. After carefully considering the feedback and support received, Bitgert confirmed the development of the P2P exchange. That will commence on August 1, 2023. This development marks a significant milestone for the platform, as it seeks to further empower its user base and expand its range of services. The upcoming Bitgert P2P exchange holds the potential to revolutionize the way cryptocurrencies are traded by enabling direct transactions between users without the need for intermediaries. This decentralized approach aims to enhance privacy, security, and accessibility for traders, fostering a more inclusive and efficient marketplace. Bitgert (BRISE) Recent Developments Bitgert (BRISE) enters its third year with a new listing. In addition, Bitgert has scheduled the upcoming listing of BRISE on ten major exchanges in August. This listing not only reflects Bitgert’s remarkable progress. Also serves as a positive indicator for the future performance of the cryptocurrency. Bitgert (BRISE) Price Chart (Source: Tradingview) At the time of writing, Bitgert (BRISE) traded at $0.00000026 with a 24-hour trading volume of over $279 million, which soared over 16%. Also, the BRISE price climbs about 2.5% in a day and 20% in a week, as per Tradingview data. Further, the cryptocurrency platform has experienced significant growth through strategic partnerships and integrations that enhance its ecosystem. One noteworthy partnership is with ChangeNow, which enables users to purchase BRISE using fiat currency. Moreover, Bitgert has forged agreements with NFTFeed, an innovative NFT platform, and Lifty.io, a gaming platform. These partnerships broaden the platform’s offerings and create new avenues for users to engage with digital assets. However, the announcement of Bitgert’s plans to develop a P2P exchange has already generated significant excitement within its community. Highlighted Crypto News Today: Binance Ends Argentina Soccer Sponsorship Deal Over Contract Dispute

Shibarium’s testnet witnessed a surge of 30 million transactions from 17 million wallets. Shiba Ecosystem core tokens SHIB values at $0.0000077, LEASH at $398.10, and BONE at $1.19. Shibarium, the highly anticipated Layer 2 solution for Shiba Inu, is set to make its grand entry next month, creating a sense of high anticipation within the dog community. The project has recently achieved a monumental milestone on its testnet, which sparked the excitement more among them. Puppynet, the native test network, has witnessed an astonishing surge of over 30 million transactions from an estimated 17 million wallets. Market Analysts believe that the transaction might reach 35 million soon. What Shibarium Brings to the Shiba Ecosystem? With Shibarium at its core, the Shiba Ecosystem continues to strengthen. The Shiba team ticks their vision list and regularly provides updates to their dog community. Attributing to it, they announced “Summer of Shibarium,” which is a campaign filled with upcoming releases. Also, The revamp of their project’s website, Shib.io, serves as a catalyst for a series of events leading up to the launch of Shibarium. Last week was an up-ride for the SHIB community, several anonymous wallets have received SHIB tokens for the first time, each receiving a significant amount from a whale address, valuing around $3 million. This substantial transfer of SHIB tokens was during a period of low volatility for the meme currency. It has caught the attention of industry participants, sparking investor interest. Meanwhile, There was recently staggering burning of 915,371,832 SHIB tokens across 139 transactions. It This burn mechanism contributes to reducing the token supply, which potentially holds positive implications for its value. CoinMarketCap values the SHIB token at $0.0000077, while LEASH and BONE tokens are prices are at $398.10 and $1.19, respectively. A slight decline of 1.61% has occurred in the value of LEASH, and BONE has experienced a decrease of 4.80%.

Cardano combines the ability to handle smart contracts with Bitcoin UTXO. The UTXO model is a fundamental element of Bitcoin and other cryptocurrencies. The cryptocurrency Cardano (ADA) has revealed that it extends the unspent transaction output accounting system by adding smart contracts to the Bitcoin UTXO model. The Cardano blockchain helps enhance the Bitcoin blockchain’s accounting model. On July 18, Input Output Global (IOG), the company behind the Cardano blockchain, announced its new plan for unspent transaction output. The Cardano blockchain added Bitcoin’s unspent transaction output (UTXO) accounting model, along with the ability to handle smart contracts, into an Extended unspent transaction output (EUTXO) accounting model. Unspent transaction output (UTXO) is known as transaction output and can be used as the input for new transactions. UTXO is a technical term for the amount of cryptocurrency that remains after the transactions. Moreover, this model is a fundamental element of Bitcoin and other cryptocurrencies. Cardano Enhances the Bitcoin UTXO Model The UTXO is based on blockchains and account or balance chains. According to the report, Cardano combines the ability to handle smart contracts with Bitcoin’s unspent transaction output. Cardano introduces the EUTXO to provide the implementation of smart contracts and a deterministic mechanism, along with many other advantages. Moreover, this strengthens EUTXO’s ability to handle both smart contracts and transactions. Input Output made its first announcement of combining Bitcoin’s UTXO accounting model with the ability to handle smart contracts into an EUTXO on February 23. Following that, after four months, the Cardano team has revealed that it completed the extended process. At the time of writing, the trading price of Cardano is around $0.3052. With a decline of over 2.17% in the last 24 hours. Moreover, the trading volume has experienced an increase of over 2.19%, according to CoinMarketCap.

According to CMC, the token’s price increased by 72 percent in the last 24 hours. Bill, a Kraken support staff member, pointed users in the direction of a submission form. Users of the Reddit subreddit r/CryptoCurrency saw a significant increase in the value of their native token, r/CryptoCurrency Moons (MOON), on Monday after hearing rumors that Kraken, a cryptocurrency exchange, could list Moons. According to CMC, the token’s price increased by 72 percent in the last 24 hours, bringing it to $0.28 at the time of writing. Reddit Moons are awarded to people for their contributions to the r/CryptoCurrency community. Tip exchanges between users are also possible. Users save their Moons in their Vault, Reddit’s Ethereum-based digital wallet that was released to the community at large in 2022. A popular thread on the cryptocurrency-centric subreddit linked to an unauthorized Twitter account called r/CryptoCurrency Moons, which claimed Reddit has recently modified its policy on selling digital assets. Some of the excitement, though, was unwarranted. An archived version of the website shows that the tweet promoting the overview of confirmed virtual products first appeared in May, therefore the news is months old. Currency Listing Request Form Nonetheless, a Kraken support staff member said Moons may be included in the exchange in the future, and others agreed. A significant shift for Moons, which is only listed on MEXC, Gate.io, SushiSwap, and RCP Swap at the moment. If Kraken adds Moons, the community would highly likely switch to using it as their primary exchange. Bill, a Kraken support staff member, pointed users in the direction of a submission form for currency listing requests. Whether or not the Twitter message was factual, it did highlight an important new development. In a blog post published last week, Reddit announced that it will be retiring its in-platform currency, Reddit coins, and ending the ability to buy and give medals as gifts. Highlighted Crypto News Today: Coinbase Dumps 11% as ARK Invest Books $91 Million Profit

Bybit, the world’s third most visited crypto exchange, is taking its Ethereum Liquid Staking service to the next level. Starting today, users can redeem their staked Ether tokens (stETH) for ETH on a 1:1 basis with zero fees. Bybit’s Ethereum Liquid Staking service offers users an exceptional opportunity to earn up to 7% APR. The stETH tokens accrue steady rewards from the Ethereum network and can be later exchanged back to the original capital plus interest. Bybit also enables clients to use stETH as trading collateral for maximum capital efficiency. Leveraging the potential of staked assets allows traders to explore a world of next-level opportunities. Naturally, the generous APR is accrued regardless of whether or not it’s used for trading. Bybit is also offering additional earning possibilities through stETH-collateralized loans, enabling clients to put their assets to work in further financial activities. More From Bybit Bybit ETH Staking Services Bybit Earn: Staking Four Strategies for Staking Ether (ETH) Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports. For media inquiries, please contact: [email protected] For more information please visit: https://www.bybit.com For updates, please follow: Bybit’s Communities and Social Media 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.

Over the last week, the XRP token has dominated the headlines following Ripple’s partial court victory over the United States Securities and Exchange Commission (SEC). On July 13, Judge Analisa Torres of the US District Court of the Southern District of New York ruled that XRP doesn’t qualify as a security leading to a massive price surge in which the token gained by almost 90%. However, while it may appear that XRP’s positive effect on the market is waning, with most assets slipping into a bearish state, there is still a high level of interest surrounding this altcoin, proven by a recent report from prominent crypto exchange Bitrue. Bitrue Users Accumulate $800M Worth Of XRP In Futures Market. In the late hours of yesterday, a crypto analyst with the Twitter handle @cowboycrypto313 revealed that Bitrue had shared a report via email with its users, noting a massive increase in the notional value of the open interest of the XRP token. Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips? The notional value of open interest refers to the total value of outstanding contracts in a futures or optional market. In this context, it represents the total value of XRP on the Bitrue exchange based on what its traders have pledged to buy or sell in the future. In this report, Bitrue states that XRP holdings in its Futures service spiked from less than $200 million to over $800 million during the weekend. Interestingly, the exchange further revealed that 88% of its users are holding a long position on this asset. According to a chart shared by Bitrue, the notional value of open interest for XRP on its platform had been below $200 million for the majority of the last two weeks. However, following the court ruling on July 13, this index started rising, with the XRP Futures market recording a notable spike on July 16. XRP Soars By 57% In Seven Days In other news, XRP remains the center of the crypto market attention, recording a 56.73% gain in the last week, according to data from CoinMarketCap. Currently, XRP, which now ranks as the fourth-biggest cryptocurrency, is tagged biggest weekly gainer. Nevertheless, it is worth noting that this token has shown little to no price movement in the last few days, with its price hovering around the $0.74 region. As of this writing, XRP is trading at $0.742 with a 1.14% gain on the last day. Related Reading: BTC Price Analysis: Why Is Bitcoin Down Today? However, its daily trading volume has seen a sharp decline falling by 40.29% to its current value of $2.41 billion. Other major weekly gainers include Stellar (XLM) and Synthetix (SNX), with their market prices rising by 25.75% and 30.24%, respectively.

Hedera concluded a successful proof-of-concept (PoC) trial for stablecoin remittances. The MetaMask will now allow users to engage with Hedera’s decentralized apps. Decentralized Public Network Hedera Hashgraph has announced that it would integrate MetaMask through the HIP-583, making it more accessible to a wider range of users. Furthermore, Hedera recently concluded a successful proof-of-concept (PoC) trial for stablecoin remittances in partnership with Shinhan Bank, SCB TechX, and other financial institutions. Users of MetaMask will now be able to access and use Hedera DApps in a streamlined manner thanks to this integration. In order to facilitate this connection, the Hedera ecosystem will provide support for wallets and apps that use the JSON-RPC protocol. Moreover, changes include the ability to move HBAR across 0x accounts, greater usability through revised “token associations,” improved connectivity with MetaMask, and support for Ethereum Virtual Machine (EVM) tooling. Also, the well-known Ethereum wallet MetaMask will now allow users to engage with Hedera’s decentralized apps without any issues. In their official blog, they outline a methodical process for creating DApps. Pilot for Stablecoin Remittances Through the use of distributed ledger technology (DLT), Hedera Hashgraph has contributed to the ease of international money transfers. It has completed a proof-of-concept (PoC) trial for stablecoin remittances. This is in conjunction with Shinhan Bank, SCB TechX, and other financial institutions. Hedera’s highly efficient and ecologically friendly open-source public network was used by the collaborative efforts of several financial institutions in Taiwan. Three different currencies (the Thai Baht (THB), the New Taiwan Dollar (NTD), and the South Korean Won (KRW)) were settled in real-time during the trial, and real-time foreign exchange rates were incorporated into the platform without any noticeable hiccups. Any stablecoin issuer using EVM may make use of this framework going ahead since this PoC is entirely compatible with EVM. Highlighted Crypto News Today: Celsius Creditors Agree on $25 Million Disbursement Plan

Cryptocurrencies and the gaming industry have a new contender in Rollbit, and it has been making headlines over the past few days thanks to a slew of improvements to its blockchain technology. In a recent development, Rollbit disclosed its most current changes to the platform’s blockchain technology, propelling it to the forefront of the market. Notably, the company has started offering strong support for its own native cryptocurrency, Rollbit Coin (RLB), giving customers access to better ecosystem functionality and advantages. Based on crypto market tracker Coingecko figures, this lesser-known RLB coin has skyrocketed by more than 120% in the last seven days. At the time of writing, RLB was trading at $0.1224, up 24% over the previous 24 hours. RLB is a crucial part of the Rollbit lottery system, which decided to airdrop RLB tokens to their current Rollbit.com gaming and trading platform customers rather than holding an initial coin offering (ICO). Despite being a relatively new platform, Rollbit has quickly become one of the top competitors in crypto casinos. Rollbit has established itself as a dominant and significant power in the business, with an average monthly wagering volume above $1 billion. RLB has a market valuation of $357,728,046 with a 24-hour trading volume of $15,311,290. There are 3.3 billion coins in circulation. The highest transaction for RLB today was $0.1248. Its current price is over 14% less than its previous peak. The Unstoppable Growth Of Cryptocurrencies And Bitcoin Casinos One of the newest trends in the cryptocurrencies and gaming sector, crypto casinos, could change the face of the industry as we know it. Some of the biggest Bitcoin casinos on the market now have thousands of active players worldwide, thanks to their numerous advantages over conventional casinos, including quicker payments, better security, and greater transparency. According to Casinos Blockchain, the global crypto casino market will be worth nearly $280 billion this year, with a $250 million gambling market. Over the years, cryptocurrency has accounted for 4% of all gambling, which is quickly rising. By the end of 2030, Straits Research projects that the global industry for online cryptocurrency gambling will be worth $153 billion, expanding at a CAGR of about 12%. Meanwhile, based on Captain Altcoin’s research, Rollbit (RLB) earns an astounding annualized revenue of $498,582,700 by collecting almost $1.36 million daily. This revenue exceeds that of Ethereum, a cryptocurrency with 2,000 times the value of Rollbit. (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 BitcoinChaser

ARK Invest, led by Cathie Wood, has been offloading its holdings of Coinbase (COIN) shares as the stock continues to surge. ARK Invest sold around $91 million worth of Coinbase (COIN) shares overall. The renowned growth-focused fund ARK Invest, led by Cathie Wood, has revealed its ongoing offloading of Coinbase shares as the COIN continued to surge. The disclosure indicates that the firm sold 248,838 COIN shares, valued at just over $26 million based on Monday’s closing price of $105.55, which falls just short of the stock’s one-year high of $114. This latest move by ARK Invest follows a series of recent sales of COIN shares as the stock has demonstrated strong performance. On July 14, the fund disclosed the sale of 480,000 COIN shares across three funds, amounting to $53 million based on the price of $112, which is the highest since April 2022. Additionally, the previous week witnessed ARK Invest sell $12 million worth of shares as Coinbase’s stock continued to rally. Timeline of Cathie Wood’s ARK Invest Sales of COIN ARK Invest held approximately $808 million worth of Coinbase (COIN) shares, accounting for 8.79% of their overall portfolio. However, they have recently sold around $91 million worth of Coinbase shares, representing approximately 11.5% of their total holding in the company. Cathie Wood’s ARK Invest Explores New Avenues As ARK Invest continues to divest its holdings of Coinbase, market observers are keen to analyze the motivations behind the fund’s decisions. The ongoing sales suggest that ARK Invest believes the stock has reached a favorable valuation or that it is reallocating its capital to other investment opportunities. In a recent statement on Bloomberg, Cathie Wood expressed a positive outlook on Coinbase, particularly in light of the court ruling regarding Ripple vs SEC lawsuit. However, she mentioned that ARK Invest is choosing to take profits from its Coinbase holdings and reallocate the capital to other stocks that have not performed as well, referring to them as “laggards.” Further, Cathie Wood’s ARK Invest funds made purchases of shares in Meta Platforms (formerly Facebook) and Robinhood on July 14. Cathie Wood had already started acquiring shares of Meta Platforms in June, following the announcement of the company’s new social networking platform called “Threads,” which bears similarities to Twitter. Highlighted Crypto News Today: Binance Ends Argentina Soccer Sponsorship Deal Over Contract Dispute

Today, the court will once again hear arguments from Celsius and its creditors. Creditor’s argued that the court should overrule any objections and approve settlement. The creditors of bankrupt cryptocurrency lender Celsius and the Series B holders have agreed on a plan to disburse $25 million to the shareholders, with $24 million going towards legal fees and the remaining $1 million being split evenly among the parties. While the terms of the sale to Galaxy Digital of the self-custody platform GK8 were not made public as part of Celsius’ bankruptcy filing. Galaxy spokesperson Michael Wursthorn had previously told that the price was much less than the $115M Celsius purchased for. The Series B funding round for the insolvent crypto lender was completed in November of 2021. The round, which was oversubscribed and increased the rise from $400 million to $750 million, was headed by growth equity company Westcap and one of Quebec’s pension funds. Awaiting Court Approval At first, some Series B shareholders complained that the $24 million allotted wasn’t enough to pay their legal fees. While others said that the $1 million was an unjust “windfall” for certain holders. In a court filing, the largest group of Series B shareholders said they intend to split the settlement’s $1 million in half with all preferred shareholders. They argued that the court should overrule any objections and approve the settlement so that the bankruptcy case can continue. Today, the court in New York will once again hear arguments from Celsius and its creditors. The former CEO of Celsius, Alex Mashinsky, was detained last week. After an inquiry into the company’s collapse, and the insolvent lender is being sued by multiple U.S authorities. Highlighted Crypto News Today: Chainlink’s Cross-Chain Interoperability Protocol Revolutionizes Finance

Chainlink’s new Cross-Chain Interoperability Protocol bridges traditional finance (TradeFi) to the blockchain-powered space. CCIP’s early access is available on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. LINK, the native token of Chainlink, surged over 6% in the last 24 hours. Chainlink, the popular decentralized oracle network, launched its Cross-Chain Interoperability Protocol (CCIP), aiming to facilitate seamless integration between traditional financial institutions and various public and private blockchains. On Monday, Kemal El Moujahid, Chief Product Officer of Chainlink Labs, revealed that CCIP has entered the early access phase on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. CCIP has been through efficient testing with nearly 25 partners such as Aave, Synthetix, and Swift. Starting from July 20, developers can access CCIP on the five major testnets: Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli, and Polygon Mumbai. The protocol focuses on enabling financial institutions to securely transfer data. And value directly from their existing backend systems to blockchain environments. Ultimately, this protocol aims to enable entities to harness the potential of blockchain interoperability. Chainlink Cross-Chain Interoperability Protocol, Gaps No More? During an interview, Sergey Nazarov, co-founder of Chainlink, emphasized the significance of interoperability as a fundamental component of a blockchain-powered economy. He stated that a robust value transmission solution between networks is essential for further blockchain innovation. Nazarove added: “CCIP is a cross-chain solution that banking and DeFi builders both need to 10x the on-chain economy in their respective verticals […] Our goal with CCIP is not only to create connectivity within these two critical groups but to create a way for them to securely and efficiently transact with each other.” Moreover, CCIP leverages Swift’s messaging infrastructure, a widely-used system employed by over 11,000 banks globally for international payments and settlements. Notably, the blockchain-based data oracle aided major banks such as BNY Mellon, BNP Paribas, Citi, Australia and more. And Lloyds Banking Group in embracing blockchain interoperability. CCIP’s transition to the mainnet after extensive testing with over 25 partner organizations demonstrates its potential to bridge various blockchain and banking networks. Following the announcement, Chainlink’s native token LINK experienced a surge of 6.69% in the last 24 hours. The Price hit $7.12, according to CoinMarketCap.

Binance signed a five-year contract in January 2022 to be the primary sponsor of AFA. The exchange alleges a violation of the contract by the Argentina soccer association. After just one year of their five-year agreement, Binance has ended it, alleging a violation of contract on the side of the Argentina Football Association (AFA). Binance signed a five-year contract in January 2022 to be the primary sponsor of Argentina’s successful national soccer team and the naming sponsor of Argentina’s national soccer league. Controversy surrounded the arrangement since it was signed by Binance after AFA abruptly ended its contract with fan token platform Socios. Even though Socios was sued by AFA, it continued to be the only source of the official fan token, $ARG, for the organization until 2026. Regulatory Scrunity Effect Binance, one of the biggest exchanges in the world, has felt the pain of the bear market and regulatory crackdown much like the rest of the cryptocurrency industry. Furthermore, according to a recent report by the WSJ, dwindling profitability at Binance has forced the business to cut down on staff perks. It was estimated that more than a third of Binance’s prior 8,000 employees might be let go in the future after the business let off more than 1,000 people in recent weeks in response to mounting regulatory and legal problems throughout the globe. Moreover, it was speculated that Binance CEO Zhao’s handling of the ongoing investigation by the U.S. authorities into Binance’s actions has contributed to the resignation of numerous key personnel. CZ, on the other hand, turned to Twitter to reaffirm his commitment to the organization. And debunked news reports that a large number of Binance employees were let go. Highlighted Crypto News Today: Binance Introduces Multiple Deposit Addresses for a Single Network Feature

The Bitcoin price has fallen to the lower end of its almost one-month trading range between $29,800 and $31,300. Already yesterday, BTC briefly fell to as low as $29,704, only to recover to $30,306 within a few hours. At press time, BTC was again moving towards the $30,000 mark, and another fall and liquidity grab seems likely. While this week the macro data releases are pretty quiet, it’s worth taking a look at what’s happening in the Bitcoin market itself. Why Is Bitcoin Down Today? Swissblock Insights observed a peculiar calm in the market when Bitcoin reached a new yearly high of $31.840 last week. However, the momentum quickly faded, and selling pressure increased, causing BTC to drop to the low $30ks. They highlight the narrow Bollinger Bands, stating, “The Bollinger Bands are very narrow, with only a 4.2% value difference separating the upper and lower bands. A move is brewing.” Moreover, the analysts emphasize the need for a significant catalyst to inject life into the current lackluster scenario: According to the analysts, a breakdown of the $29.650 support level would invalidate a long setup. On the other hand, a bullish leg up $31.500 could reignite momentum and surge the price to $33,000. But for this to happen, spot demand needs to reignite strongly and longs need to enter the market, “otherwise momentum will continue to fading.” Glassnode, an on-chain data provider, further illuminates the current state of the Bitcoin market. Despite the temporary yearly high, they describe the market as “extremely quiet”, also pointing to the Bollinger Bands. This compression in volatility signals a market reminiscent of the calm observed in early January, as NewsBTC reported yesterday. Furthermore, Glassnode’s analysis reveals a slow but steady inflow of capital into Bitcoin. The Realized Cap currently sits just shy at $396 billion. After hitting a cycle low at $380 billion, the metric indicates that a slow but steady stream of capital is entering the market throughout 2023. Glasnode also emphasizes that investors remain unwilling to part with their held supply, resulting in choppy market conditions similar to those seen in 2016 and 2019-20 periods. Total realized profit and loss resembles the historic trend: The analysis also highlights the profit-locking behavior among Bitcoin holders, with the majority of both short-term (88%) and long-term holders’ balances (73%) held in profit. However, short-term holders are the primary entities that are active in the market. Out of the total 39.600 BTC in daily exchange inflows, 78% of this is associated with the STH cohort. This means that short term holders may have to trim their profits for the time being before selling pressure eases and the bulls can take the upper hand again. GreekLive, an options expert, explains that the Bitcoin market is still losing liquidity, which makes it highly susceptible to spikes and V-shaped recoveries: The analysis advises sellers to focus on static protection and have risk control plans for holding options until expiration. For buyers, timely profit-taking and using futures to hedge options are recommended risk management strategies. At press time, BTC traded at $30,064.

Istanbul Blockchain Week gets a seal of approval from HAQQ (Islamic Coin), an ethics-first network committed to empowering individuals and fostering sustainable decentralized finance. As the title sponsor, HAQQ will bring to the forefront ESG-forward and Shariah-compliant advancements within Web3, celebrating a culture of inclusivity and social responsibility. Istanbul becomes the epicenter for the convergence of technology, finance, and Islamic values. Istanbul Blockchain Week, the highly anticipated global event that attracts industry leaders, politicians, entrepreneurs, and developers, is excited to unveil its collaboration with HAQQ (Islamic Coin), dedicated to creating a fair and ethical decentralized financial system. HAQQ will serve as the title sponsor for this year’s event, reflecting IBW’s strong commitment to technological innovation and financial inclusion, rooted in a culture of inclusivity, and social responsibility. Crypto has made its mark in Turkey, and Istanbul has emerged as the go-to destination for the country’s Web3 enthusiasts. Many small businesses in the region are actively involved in cash-to-crypto transactions, and crypto has become a practical solution to counter the effects of inflation. By assuming the title sponsorship for Istanbul Blockchain Week, HAQQ stands as a testament to the harmonious coexistence of crypto trading and investments, Web3 engagement, and the guiding principles of Shariah. IBW becomes a cultural melting pot where Europe meets the Middle East, thereby emerging as the symbol of ethical crypto investing and practices, representing an inclusive and decentralized future. “Upon meeting the team behind IBW, it became evident that HAQQ had to be a part of this remarkable event. The meticulously curated list of sponsors and speakers reflects the dedication of IBW to bring together a community of fair, transparent, and forward-thinking projects,” explained Alex Malkov, the CEO of HAQQ, “As we strive to drive the ESG change and promote the integration of Shariah-compliant principles in Web3, our commitment extends to fostering cross-cultural collaboration and inclusivity. With its unique blend of European and Middle Eastern influences, Istanbul provides the perfect backdrop for our vision of a supranational, inclusive, and decentralized future to flourish.” Attendees of IBW will have a unique opportunity to participate in a workshop organized by HAQQ, focused on exploring sustainable and ethical blockchain infrastructure. During this session, participants will learn about the principles of Shariah and understand why projects following this philosophy are considered ethical and ESG-compliant. The CEO of HAQQ, Alex Malkov, will also deliver a keynote speech at IBW, sharing his journey and emphasizing the importance of reliable measures to verify and support sustainable projects within Web3. “Last year, Istanbul Blockchain Week attracted over 4,000 attendees and featured more than 120 speakers, including prominent Turkish leaders, entrepreneurs, and government officials. I am immensely proud that HAQQ recognizes the unwavering dedication of IBW to create a space where ethical and transformative leaders from around the world can come together, network, collaborate, and elevate our industry,” commented Erhan Korhaliller, the founder of Istanbul Blockchain Week, “HAQQ’s participation as the title sponsor reaffirms our commitment to technological innovation, financial inclusion, and the values that hold significant importance in Islamic and Turkish cultures on a global scale. With HAQQ’s invaluable support, we pledge to foster an ethical and inclusive decentralized finance system that empowers individuals, businesses, and communities worldwide.” Istanbul Blockchain Week will take place in Istanbul Hilton Bomonti Hotel from August 22nd through 23rd. It is a celebration of decentralized culture and trade, gathering forward-thinking leaders from all over the world. About HAQQ HAQQ is an ethics-first L1 blockchain that brings together sustainability-centered developers, validators, open-source contributors, and Muslim innovators in sustainable finance with its native asset – Islamic Coin. As an EVM-equivalent chain built using the Cosmos SDK, HAQQ’s innovative technology allows for the seamless deployment of smart contracts from other EVM chains. HAQQ aims to create a fairer, more sustainable financial system by balancing Shariah-compliant philosophy with cutting-edge technology using Shariah Oracle – an on-chain registry of Halal Certificates, which assures compliance with Islamic principles. HAQQ ensures that its users interact exclusively with whitelisted Shariah-compliant dApps, minimizing unethical or Haram activity within the network. Learn more about HAQQ at haqq.network. About Istanbul Blockchain Week Istanbul Blockchain Week is an annual event that brings together blockchain enthusiasts, industry experts, and thought leaders from across the globe. Following its remarkable success in November 2022, which witnessed an impressive turnout of over 4,000 attendees and featured 120+ international and Turkish speakers such as Yoshihisa Hashimoto, Changpeng Zhao, Ziya Altunyaldız, and Şant Manukyan, IBW is set to return to Turkey’s prominent crypto hub from August 22nd to 23rd. As a dynamic platform for networking, knowledge sharing, and exploration of the latest advancements in blockchain technology, Istanbul Blockchain Week creates an environment conducive to collaboration and innovation. The event offers attendees a diverse program featuring keynote speeches, panel discussions, workshops, and exhibitions that delve into various aspects of Web3. Istanbul Blockchain Week presents a unique opportunity for individuals to immerse themselves in the blockchain world and connect with like-minded visionaries actively shaping the future. To learn more about HAQQ, visit istanbulblockchainweek.com. 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.

Ethereum price corrected further lower below the $1,900 level against the US Dollar. ETH is showing bearish signs and might decline further toward $1,825. Ethereum extended its decline and tested the $1,875 level. The price is trading below $1,930 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if it stays below the $1,910 and $1,940 resistance levels. Ethereum Price Could Extend Losses Ethereum’s price made a fresh attempt to start a decent increase above the $1,950 resistance. However, ETH struggled to gain strength for a move above $1,950. A high was formed near $1,943 and the price reacted to the downside. There was a break below the $1,900 support zone. A new weekly low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,890 and $1,900 levels. There was a move above the 50% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Ether is now trading below $1,930 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,910 level. There is also a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Source: ETHUSD on TradingView.com The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,030 level. Any more gains could send Ether toward the $2,120 resistance or even $2,200. More Losses in ETH? If Ethereum fails to clear the $1,910 resistance, it could start a fresh decline. Initial support on the downside is near the $1,890 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 send Ether toward the $1,780 support level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,875 Major Resistance Level – $1,910

Chainlink’s LINK price is gaining pace above $7.00. The price could rise further if it clears the $7.35 and $7.50 resistance levels. Chainlink token price is showing positive signs and rising from $6.50 against the US dollar. The price is trading above the $7.00 level and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $6.65 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could gain bullish momentum above the $7.35 resistance zone. Chainlink (LINK) Price Eyes More Gains After a short-term downside correction, LINK price found support near the $6.45 level against the US Dollar. A low was formed near $6.458 and the price started a fresh increase, unlike Bitcoin and Ethereum. There was a clear move above the $6.65 and $6.90 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $7.36 swing high to the $6.458 low. LINK price is now trading above the $7.00 level and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $6.65 on the 4-hour chart of the LINK/USD pair. The pair is now facing resistance near the 76.4% Fib retracement level of the downward move from the $7.36 swing high to the $6.458 low. Source: LINKUSD on TradingView.com The first major resistance is near the $7.35 zone. A clear break above $7.35 may possibly start a fresh increase toward the $7.50 and $7.85 levels. The next major resistance is near the $8.00 level, above which the price could revisit $8.80. Dips Supported? If Chainlink’s price fails to climb above the $7.35 resistance level, there could be a downside correction. Initial support on the downside is near the $6.90 level. The next major support is near the $6.65 level and the trend line zone, below which the price might test the $6.45 level. Any more losses could lead the price toward the $6.00 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. Major Support Levels – $6.90 and $6.65. Major Resistance Levels – $7.35 and $8.00.

Elon Musk has consistently proven to be a pivotal figure in cryptocurrencies, particularly Dogecoin (DOGE), his crypto of choice. His influence on DOGE has been nothing short of remarkable, with any mention or action from him causing significant fluctuations in its price. In the digital currency landscape, where DOGE has struggled to keep pace with its counterparts despite the recent positive sentiment surrounding cryptocurrencies, any movement on the meme coin carries a heightened significance. Enthusiasts eagerly await every word uttered by Musk, recognizing the potential impact his statements can have on the price and overall market sentiment. Given this context, what did Elon Musk, the Tesla and SpaceX top honcho and Twitter owner, say this time, and how did it reverberate within the DOGE community? Elon Musk ‘Doges’ Preference Boosts Dogecoin Price Musk recently responded to a question on a popular social media platform. The question was about his preference between cats and dogs, and the enigmatic billionaire, promptly answered, “Doges.” This seemingly innocuous response had an immediate impact on the price of the meme coin. Following Musk’s endorsement, Dogecoin experienced a surge in its price on Monday, with a notable 3% gain. Its trading value climbed from $0.07 to $0.073, reflecting the enthusiastic market response to Musk’s statement. The sudden price increase further solidified the significance of Musk’s influence on Dogecoin and the broader cryptocurrency market. However, as of the time of writing, the initial excitement has subsided, and DOGE’s price on Coingecko has adjusted to $0.070024. Despite the slight dip from the peak, the meme coin still managed to record a modest increase of 0.5% within the last 24 hours. Over seven days, Dogecoin showcased a more promising rally, with a substantial gain of 8.2%. Crypto Trading Expert Foresees DOGE Breakout Meanwhile, crypto trading expert Ali Martinez recently took to Twitter to share his prediction that Dogecoin is on the brink of a breakout, presenting an opportunity for investors. Leveraging an analysis of critical resistance levels and historical data on address accumulation, Martinez foresees a potential 10% price surge if DOGE surpasses the significant $0.75 supply wall. His insightful analysis suggests that breaking through the $0.75 supply wall can catalyze a notable upswing in Dogecoin’s price, propelling it toward the $0.85 mark. This specific price level holds particular significance because of the presence of approximately 176,000 addresses that had previously acquired a substantial amount of over 12.34 billion DOGE. (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 Doha News

While most crypto market watchers remain focused on Bitcoin’s ongoing struggle with $31,000, Ethereum recently closed above the psychologically important $2000 level for the first time in weeks. Now poised to close lower for four straight days, let’s take an evidence-based approach and determine whether four consecutive days lower for Ether is historically bullish or bearish going forward. Let’s dive in! Ethereum’s Close Above $2000 Followed By Pullback After closing at an impressive multi-week high and back above the $2000 level on July 13th, Ether has pulled back for four consecutive sessions, one of the conditions we’ll test momentarily. To better add context to the test, we’ll also add two more conditions requiring that [1] Ether is above its 200ma and that [2] its 200ma is rising. Why? The 200ma and its slope both act as simple filters to help determine market regime. For example, this latest four day pullback in Ether occurs in an improving market in which ETH is above the rising 200ma. If the current four day pullback were occurring in a down trending market regime, we would require that ETH be below its declining 200ma. Ethereum Daily Chart | ETHUSD on TradingView.com What does this pullback in Ethereum suggest for its price? To find out, we’ll look at all signals since inception, and also compare those signals to a simple “buy and hold” approach. This will provide us with a baseline to better understand today’s test results. Four Days Down Compared To Buy And Hold The holding time graphic below shows historical results for Ether’s current technical setup on top with a simple “buy and hold” approach on the bottom. In other words, we’ll show hypothetical results using various holding times solely for when Ethereum has closed lower for four straight days while above its rising 200ma on top. The bottom results will act as a baseline, assuming a hypothetical purchase of ETHUSD with no conditions whatsoever and an exit n-days later. Average Trade Comparison | SOURCE: REKTelligence, Tableau While both approaches show positive average trade results over every exit we tested from 7 days through 90 days, our baseline “buy and hold” actually outperforms the current technical setup of four days down. The single exception is the “exit in 90 days” in which the current setup slightly outpaces the historical average “buy and hold” trade, beating it 62.1% to 59.4%. But while the average trade statistic remains important, it does not always tell the whole story. When looking at a comparison of the largest hypothetical losses for both approaches using the same conditions described earlier, note that the largest losses (i.e., worst trades) for the current four days down setup are far lower than for a simple “buy and hold” approach. This largest loss comparison indicates that while the current setup may not beat “buy and hold” in terms of average trade, Ethereum may currently have a lower than usual risk exposure – something most experienced traders will appreciate. Largest Loss Comparison | SOURCE: REKTelligence, Tableau While the past doesn’t predict future, based on our analysis, Ethereum looks poised for potential upside mostly in line with typical “buy and hold” expectations. In other words, not overly exciting and apparently lacking any meaningful edge at the moment. That said, risk also appears lower than usual relative to the “buy and hold” largest loss stats. Traders take note. Ethereum may now be offering its typical return profile based on its current technical setup, but with a lower overall risk exposure. DB the Quant is the author of the REKTelligence Report newsletter on Substack. Follow @REKTelligence on Twitter for evidence-based crypto market research and analysis. Important Note: This content is strictly educational in nature and should not be considered investment advice. Featured images created with Tableau. Charts from TradingView.com.

Bitcoin price is again moving lower toward the $29,200 level. BTC must surpass $30,500 to attempt a fresh increase in the near term. Bitcoin is showing bearish signs and trading well below the $30,500 zone. The price is trading below $30,300 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $30,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $30,500 resistance. Bitcoin Price Extends Decline Bitcoin price attempted a fresh increase above the $30,250 level but failed to gain bullish momentum. BTC stayed below the key $30,500 resistance zone. A high was formed near $30,447 before the price dropped below $30,000. It traded to a new weekly low at $29,669 and is currently correcting losses. It broke the 50% Fib retracement level of the recent decline from the $30,447 swing high to the $29,669 low. The price was able to climb above the $30,000 level. Bitcoin price is now trading below $30,300 and the 100 hourly Simple moving average. Immediate resistance is near the $30,200 level. There is also a key bearish trend line forming with resistance near $30,200 on the hourly chart of the BTC/USD pair. The trend line is near the 61.8% Fib retracement level of the recent decline from the $30,447 swing high to the $29,669 low. The first major resistance is near $30,265. The main resistance is now forming near the $30,450 and $30,500 levels. A close above the $30,500 level might start a fresh increase. Source: BTCUSD on TradingView.com The next major resistance is near the $30,850 level. Any more gains could open the doors for a move toward the $31,500 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $30,500 resistance, it could continue to move down. Immediate support on the downside is near the $29,850 level. The next major support is near the $29,550 level, below which there could be a 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 bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $29,850, followed by $29,200. Major Resistance Levels – $30,200, $30,265, and $30,500.

As one of the biggest stablecoins, USDC is one of the major players in the crypto industry. However, the stablecoins have seen better days, as the stablecoin has seen its market cap drop drastically over the past few months. The second-largest stablecoin has seen its market cap drop by over $1.4 billion in just the last few days thanks to a surge in redemptions. $1.4 Billion Redeemed In One Week The stablecoin market was rocked this week by a massive redemption of USDC. According to Circle and data obtained from Coinmarketcap, the supply of USDC decreased by $1.4 billion in just seven days as Circle’s rate of token burning outnumbered the rate of new token creations. This led to a market cap drop from $27.4 billion to $26.9 billion in a 7-day timeframe. This comes as the overall supply of USDC has been on a steep decline since the beginning of the year, plummeting from $45 billion to its present level of $26 billion. The worst drop in USDC’s market cap this year came during the height of Silicon Valley Bank’s shutdown. According to Nansen, Circle burned $1.6 billion in USDC in a single day. During this period, Circle’s market cap fell by more than $10 billion. This came as investors rushed to redeem USDC due to Circle having cash reserves in the failed bank. What Does This Mean For USDC? The rush to redeem USDC over the course of the past year has prompted doubts about the reserves underpinning the stablecoin. But the stablecoin market appears to be doing just fine in terms of maintaining its peg to the US dollar. Circle also maintains that the USDC cryptocurrency is backed 1:1 by cash and other monetary equivalents. In March of this year, Circle switched to short-term maturity bonds. This means that the USDC reserve is now held 80% in short-dated US treasuries and 20% in cash deposits within the US banking system. Given this, there are worries among investors as redemptions at this scale could strain the reserves if they’re invested in less liquid assets. This would explain the high volume of redemptions over this time. The cryptocurrency market is known for its volatility, but stablecoins have become one of the backbones of the industry due to their ability to offer more stability. Overall, most of the stablecoin market remains split between USDT and USDC, making up more than 83% of the total stablecoin market cap. For now, USDT has the higher momentum. While USDC’s market cap has slipped throughout the year, data shows USDT has added over $15 billion to its market cap.