On-chain data shows that Bitcoin miners may have once again been participating in selling recently, something that could lead to the asset declining. Bitcoin Miner Reserve Has Been Declining In The Last Two Weeks As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve has been observing outflows recently. The “miner reserve” here refers to the total amount of Bitcoin that the miners as a whole are holding in their wallets right now. When the value of this metric goes up, it means that these chain validators are transferring coins into their addresses currently. This kind of trend can be a sign that the miners are accumulating, and hence, can be bullish for the price of the asset. On the other hand, the indicator trending down suggests the miners are taking BTC out of their wallets at the moment. Generally, these investors withdraw coins from their reserve for selling-related purposes, so such a trend can have bearish consequences for the cryptocurrency’s value. In the context of the current discussion, the miner reserve itself isn’t of interest, but rather its “rate of change” (ROC) is. This metric keeps track of the percentage changes in the miner reserve over a specific period. Here, the relevant period is the 14-day one. Now, below is a chart that shows the trend in the 14-day ROC of the Bitcoin miner reserves over the last few months: As shown in the above graph, the 14-day ROC of the miner reserve had been green last month as Bitcoin had rallied above the $30,000 level. These positive values of the indicator imply that the miner reserve had been rapidly going up. The timing of these positive ROC values could suggest that the accumulation from the miners might have provided support for the surge in the cryptocurrency’s price. In the first week of this month, though, the metric turned negative, implying that the miner reserve started to decline. The miners look to have continued to withdraw coins from their wallets since then, as the indicator’s value has remained red. The Bitcoin price has been struggling in this period, as it hasn’t been able to mount up any significant moves. It would appear that this selling from the miners (if the withdrawals are indeed happening for selling) might be one of the factors behind the asset stalling in the past couple of weeks. Since the 14-day ROC of the miner reserve has continued to be at notable red values recently, it’s possible that these chain validators aren’t letting up their selling just yet. So far, the price has continued to hold on above the $30,000 level, implying that there may be enough demand in the market to absorb any selling from the miners for now. However, if the miners continue to sell into the near future, it’s possible the asset may buckle and the price could face a drawdown. BTC Price At the time of writing, Bitcoin is trading around $30,000, down 1% in the last week.

On-chain data shows the stablecoin exchange deposits have remained low recently. Here’s what this may mean for Bitcoin. Stablecoin Exchange Deposits Stay Low, While Withdrawals Jump As pointed out by an analyst in a CryptoQuant post, the fact that the stablecoin exchange withdrawals have spiked while deposits have stayed low may be slightly alarming for BTC. There are two indicators of relevance here: the “stablecoin exchange withdrawing transactions” and the “stablecoin exchange depositing transactions.” As their names already imply, these metrics track the total number of withdrawals and deposit transfers, respectively, that investors of the ERC-20 stables are making right now. Generally, investors seek the safety of these fiat-tied tokens whenever they want to escape the volatility associated with the other assets in the sector. Eventually, when these holders think that the prices are right to jump back into the volatile markets, they swap their stables back for their desired cryptocurrency. These investors usually make use of centralized exchanges for this purpose. So, when the exchange withdrawing transactions are high, it can be a sign that holders are exchanging coins like Bitcoin for stablecoins right now. On the other hand, the deposits being high can imply these investors are looking to buy volatile assets using their stables. Naturally, in the former case, Bitcoin and others may feel a bearish effect from the selling, while in the latter case, the prices might see a bullish boost. Now, here is a chart that shows the trend in the stablecoin exchange withdrawing and depositing transactions over the past couple of years: As displayed in the above graph, the stablecoin exchange depositing transactions metric has been relatively low for a while now. This would suggest that there may not be enough demand for converting stables into other assets right now. From the graph, it’s visible that the last time the indicator spiked was back in March of this year. Following the deposits back then, Bitcoin observed a sharp rebound in its price as the rally saw a revival. The timing of these inflows might mean that it was the buying from these stablecoin holders that had provided the fuel for the BTC surge. In the graph, the quant has marked other similar past instances as well. It looks like the BTC price generally observes a rise after stablecoin deposits spike, given that the withdrawals are low at the same time. Recently, however, only the stablecoin withdrawals have observed a spike, implying that investors are taking these tokens away from exchanges, likely to hold onto them for extended periods in self-custody. As there aren’t any deposits happening to counteract this, the BTC price has been struggling recently. If the trend continues and more stablecoin withdrawals continue to take place, it’s possible that the cryptocurrency could take a hit in the short term. Bitcoin Price At the time of writing, Bitcoin is trading around $30,200, up 1% in the last week.

Xangle, a prominent web3 data and intelligence platform located in South Korea, has forged a strategic agreement with Republic Crypto, a leading US-based advisory organization that assists global firms in effortlessly entering the web3 arena. So far, Xangle has mostly concentrated on providing Korean businesses with web3 data, intelligence, and advisory services, equipping them with the necessary tools and information to make wise choices about their web3 strategy and how to apply it to their business models. Through this strategic relationship, Republic Crypto’s recognized expertise in web3 execution is now available to Xangle customers, giving them access to a broad toolbox that includes setting up blockchain infrastructure, managing digital assets, tokenomics design, and more. With this strategic alliance, Xangle and Republic Crypto are better positioned to support businesses as they adopt web3 technologies and seize opportunities in the rapidly changing digital and financial world. Utilizing the combined knowledge and committed assistance of both organizations, they allow enterprises in Korea and other Asian technology centers to grow into the decentralized frontier. With the help of this collaboration, businesses can successfully traverse the web3 space and realize the full potential of a future that is becoming more decentralized.

WASHINGTON–(BUSINESS WIRE)–Building off a decade-plus of helping the most cutting-edge and ambitious companies succeed by solving major regulatory and public affairs challenges, Tusk Strategies today announced the launch of a new practice area focused on helping companies and states navigate and leverage funding mechanisms created through the CHIPS and Science Act. The practice group will be led by Managing Director Bernadette Carrillo, who joined the firm earlier this year after most recently serving as Director of Intergovernmental Affairs to Secretary Raimondo in the U.S. Department of Commerce. In that role, Carrillo helped build the CHIPS program by advancing legislation on the Hill and through engagement with governors and with respect to how state and local incentives would factor into CHIPS implementation and funding applications. Prior to her service in that role, Carrillo served as Director of Strategic Partnerships to Assistant Secretary of Economic Development Alejandra Castillo at the Economic Development Administration, a U.S. Department of Commerce bureau. Previously, Carrillo was Senior Associate Director in the Office of Presidential Personnel at the White House, Agency Outreach and Appointments Lead for the Biden-Harris Transition Team, and as Senior Government Affairs Manager at PepsiCo. Key functions of Tusk’s CHIPS Practice will include: Navigating application processes with CHIPS Program Office and client advocacy with the Biden administration; State engagement regarding incentive scoping and site selection identification as well as workforce development and public-private partnerships Advocacy among critical Members of Congress and respective delegations to advance client objectives and mitigate risk to the business; and Developing community coalitions in respective states to support application and continued operations. Said Cristóbal Alex, Head of Tusk’s DC Office, “Few can tout being ‘in the room’ as one of the most economically transformative industrial policies in our country’s history has been implemented. But Bernadette was – and continues to be – a leader on the future of semiconductor policy and how forward-thinking companies can dramatically grow their business through the CHIPS Act.” Said Bernadette Carrillo, “The impact of the CHIPS Act is just starting to be felt and nothing short of our economic and national security is at stake. As states build ecosystems to compete for a growing domestic semiconductor industry, I’m excited to work with current and future clients to ensure they maximize their return on their critical investments in our workforce and technological leadership.” The launch of the CHIPS Act Practice is the latest milestone for Tusk, which has included launching new offices in Washington, DC and Los Angeles, expanding its presence in New York through senior hires, including former Chief of Staff to the NY Senate Majority Shontell Smith, as well as building new subject matter-specific practice areas, including Crypto + FinTech. Tusk’s investment in each announcement is geared towards helping clients build their brands with thought leadership and earned media; gain market share with cutting edge commercial strategies; and solve complex “bet the company” regulatory challenges.. Tusk Strategies is led by CEO Chris Coffey, a Bloomberg administration alum and political affairs advisor to Fortune 500 c-suites. The firm was founded by venture capitalist, philanthropist and political strategist Bradley Tusk. To learn more about Tusk Strategies, visit TuskStrategies.com. Contacts Alex Sommer; [email protected]

FLOKI: Top NFT project, 2.67K social mentions, significant community engagement. SAND: 1.83K social mentions, high social dominance (0.78%). As the popularity of non-fungible tokens (NFTs) continues to rise, the social engagement surrounding these digital assets has become a key indicator of their success. Lunar Crush, a leading social analytics platform, has provided insights into the top NFT projects based on social mentions and activity. This article explores the NFT projects that have generated significant social buzz and dominance in 2023. Floki (FLOKI) With 2.67K social mentions, FLOKI has emerged as a prominent NFT project in terms of social activity.Sources reveal that its unique offerings and captivating content have garnered attention from NFT enthusiasts. Despite its relatively low social dominance of 0.10%, FLOKI’s consistent engagement suggests an active community which made it come under top NFTs project. The Sandbox (SAND) The Sandbox, with 1.83K social mentions, has captured the interest of NFT enthusiasts. The project boasts a social dominance of 0.78%, indicating a significant “share of voice” across social media platforms. SAND’s immersive metaverse and user-friendly features could have contributed to its growing popularity among NFT collectors and creators. STEPN (GMT) With 942 social mentions and a social dominance of 0.41%, GMT has established itself as a noteworthy NFT project. It builds a dedicated community through innovative approach to digital art and collectibles has attracted a dedicated community. GMT’s listing in the top NFTs project reflects the growing interest in its unique offerings. Axie Infinity(AXS) AXS, with 875 social mentions, has gained attention in the NFT space. Failing at social dominance by standing at 0.18%, AXS has managed to stay in top through its gaming-related NFTs. The project’s integration of blockchain technology and interactive experiences has resonated with users. DigiByte(DGB) DigiByte has garnered 820 social mentions which indicates its active community engaged with its NFT offerings. With a social dominance of 0.20%, DGB has established its presence in the NFT market. Netizens reveal that distinct features and use cases have contributed to its social traction. Decentraland(MANA) Decentraland has 664 social mentions which seems to have attracted attention with its virtual world and decentralized applications. With its unique exploring metaverse made it to the top NFTs projects which hides the lower social dominance of 0.17% behind.Adding to the engaged community list, Decentraland brightens among others. Verasity(VRA) Verasity has achieved 644 social mentions.While its social dominance stands at 0.15%, VRA’s engagement highlights its potential for growth and the interest surrounding its unique offerings. Nakamoto Games (NAKA) NAKA, with 584 social mentions, has garnered interest in the NFT market. Despite being part of a lower social dominance team of 0.05%, NAKA has constant engagement and showcases its potential as an up-and-coming player in the NFT space. ApeCoin (APE) ApeCoin , the infamous NFT with 533 social mentions, has generated buzz despite its shocking lower social dominance of 0.02%. It is also noteworthy that ApeCoin had high price fluctuations recently. But NFT offerings and community-driven initiatives have maintained their dedicated following.. Conclusion The world of NFTs continues to evolve, and social activity serves as an important gauge of a project’s popularity and community engagement. The top NFT projects of 2023, based on social mentions and dominance, highlight the diversity and creativity within the NFT space. These projects have successfully captured the attention and interest of users, contributing to the ongoing growth and development of the NFT market.

Celsius, the bankrupt crypto lender, has started selling its non-Bitcoin and non-Ethereum crypto assets, records on July 17 indicate. According to on-chain data from Lookonchain, Celsius has transferred approximately $23.5 million of various cryptocurrencies, including BNB, ZRX, LINK, BONE, and SNX, to FalconX and OKX, respectively. Different amounts of these tokens were transferred by Celsius, a move that, while it could be positive for creditors, may impact the token valuations of those projects. Celsius Selling Altcoins Lookonchain revealed that Celsius moved $8.5 million worth of LINK, the native currency of Chainlink, a middleware protocol linking on-chain smart contracts to external but verified data. At the same time, it also moved $7.84 million worth of SNX, the native token of Synthetix, a protocol allowing users to trade derivatives called synths, was transferred. Celsius also went on to move $3 million worth of BNB, the coin behind the sprawling Binance ecosystem, $2.26 million worth of 1INCH, the token aggregator, and $1.9 million worth of ZRX, the token behind one of the first decentralized finance platforms, Ox Protocol. The bankrupt lender also moved $709,678 worth of FTT, the token behind the collapsed FTX exchange, to FalconX. In response, FalconX has started depositing these tokens to Binance for selling. The only token moved to a different exchange was BONE, where Celsius moved $235,000 of the meme token to the popular cryptocurrency exchange, OKX. While OKX caters to retail and institutional investors, FalconX serves institutional investors, offering diverse services, including liquidity provision and risk management. So far, a large tranche of tokens held by Celsius has moved through FalconX. In late June, Judge Martin Glenn of the Southern District of New York allowed Celsius to start converting all their tokens to either Bitcoin or Ethereum, the two currencies that would be allowed to pay back creditors. All conversions were set to begin on July 1. Altcoins Taking A Hit The transfer also comes amid a favorable ruling that saw a US Judge say XRP, one of the major altcoins, is not a security and can be traded like a commodity, just like Bitcoin. However, even though news pumped altcoins, mostly XRP, momentum tapered during the weekend, and most altcoins fell back from last week’s highs. Related Reading: XRP Whales Ride The Crypto Surge, As Ripple Token Notches 62% Price Spike Among the impacted tokens included BNB, the native currency behind Binance, the world’s largest ecosystem. The coin currently oscillates within a $30 range as bears dominate price action. From the daily chart, BNB has resistance at $260 and is down over 30% from April 2023 highs. LINK and SNX are seeing similar price actions, both recording losses on the 24-hour chart. LINK is down 2.97% to be trading at $6.63, while SNX is nursing 3.94% losses, bringing its price to $2.64.

G20 on supervising firms that invest in cryptocurrencies. Crypto players have not been allowed to argue about the lack of regulation clarity. The G20, an intergovernmental forum, has stated that globally agreed rules leave crypto firms with no option. However, it will introduce a basic safeguard to avoid the blowups experienced at the FTX exchange and other crypto firms. On July 17, the Financial Stability Board (FSB) revealed the final recommendations by the G20 on supervising firms that invest in cryptocurrencies. Moreover, the watchdog also updated the existing recommendations for stablecoins like TerraUSD/ Luna Coins. The G20 revealed this update after the report that the G20 will meet in India to discuss the game-changing crypto regulations. G20’s FSB Brings Clear Standard Crypto Regulations The FSB report highlighted the FTX collapse that happened in 2022 and the vulnerabilities of crypto firms. It stated that all countries should follow the recommendations, even those not included in the watchdog’s members. The FSB added that recent events have shown that if linkages to traditional finance were to grow further, spillovers from crypto markets into the broader financial system could surge. John Schindler, FSB secretary general, stated that the crypto firms have to stop operating outside the regularity perimeter or not cooperate with the existing rules. Moreover, those players have not allowed to argue about the lack of regularity clarity, as the framework has set a clear standard. Financial stability clearly focuses on robust governance to prevent conflicts of interest and proper risk management. This is to ensure customer money segregated from the company’s cash. Moreover, the European Union has already approved the world’s first comprehensive set of rules for the crypto market. However, the FSB global baseline set to created to accommodate jurisdictions.

Binance has announced its support for the Terra (LUNA) network upgrade, scheduled to occur on July 18. The price of LUNA surged by 16% within 24 hours, reaching a high of $0.7274. Binance, the world’s largest crypto exchange, has announced its support for the Terra (LUNA) network upgrade. The Terra community has successfully passed the on-chain proposal for the Phoenix software upgrade v2.4, with a majority of votes in favor of the upgrade. As a result, the price of LUNA has witnessed a significant surge of over 16% to reach a high of $0.7274 within the past 24 hours. According to the official announcement by Binance on July 17, the Terra (LUNA) Phoenix v2.4 software upgrade is scheduled to take place on July 18 at 13:00 UTC, coinciding with block height 5,994,365. To facilitate the upgrade process, Binance will temporarily suspend LUNA deposits and withdrawals one hour prior to the scheduled upgrade. However, users will still be able to trade LUNA normally during the network upgrade. Binance Support Drives Surge in LUNC and USTC The network upgrade holds great significance for the Terra ecosystem. Also, Binance’s support for the upgrade is expected to provide a further boost to Terra’s growth and adoption within the crypto community. In addition to the LUNA price surge, other tokens within the Terra ecosystem have also experienced notable gains. Both Terra Classic (LUNC) and TerraClassicUSD (USTC) have witnessed a breakout from a descending channel pattern. That results in a staggering increase of 20% and 50% respectively over the past week. Terra Classic (LUNC) Price Chart (Source: CoinMarketCap) At the time of writing, LUNC traded at $0.00009622, experiencing a rally of 16% over the week. With a substantial 24-hour trading volume of $98 million. On the other hand, USTC traded at $0.01774, displaying an impressive climb of 52% within a week. As well as a 10% increase in a single day. Further, USTC holds a 24-hour trading volume of $145 million, sored about 59%, as per CoinMarketCap. However, the news of Binance’s backing for the Terra (LUNA) network upgrade and the subsequent price surge highlights the growing confidence and interest in the Terra ecosystem and its native cryptocurrency. The upgrade is expected to bring about positive developments and advancements, fostering the continued growth of the Terra network in the crypto landscape. Highlighted Crypto News Today: Binance Enables Lightning Network for Bitcoin Transactions, Bullish?

XRP is now witnessing a surge in network activity as prominent holders of the cryptocurrency make their moves. The latest findings from Lookonchain, a renowned data analytics firm, shed light on the purchase and sale patterns of XRP whales on the Binance Smart Chain (BSC), signaling a potential rise in selling activity within the market. Ripple’s triumph over the SEC has undoubtedly injected a fresh wave of confidence into the XRP community. With the regulatory cloud dissipating, investors and holders are now eager to capitalize on the newfound clarity surrounding the token’s status. As a result, the actions of these notable whales have become a focal point of interest for market observers and enthusiasts alike. XRP Whales’ Purchasing Habits Revealed: Insight From Lookonchain Based on analysis by Lookonchain, the transactional behavior of four influential whales has come to light. Each of these whales demonstrates distinct patterns in their purchasing habits, shedding light on their strategies within the crypto market. One of the whales, known as “0xf522,” has amassed a staggering 25 million XRP, equivalent to $18 million, between April 22 and November 24, 2022. Interestingly, this particular whale has refrained from selling any of their holdings thus far. Another notable participant, identified as “0x513d,” acquired 10 million units of the coin at an average price of $0.45 per token. Following the recent surge in XRP’s value, this whale has deposited 5.4 million XRP, worth around $4.3 million, into Binance. Related Reading: Shiba Inu Encounters Familiar Resistance, Prompting Concerns About Bull Run By taking advantage of the recent price rally, “0x513d” demonstrates a more proactive approach, capitalizing on the upward momentum of XRP. At present, Coingecko displays XRP’s price at $0.7412, reflecting a 2.9% rally within the past 24 hours alone. Over the course of the previous seven days, XRP has experienced a remarkable surge of 58.6%. Ex-Ripple Chief Affirms Company’s Limited Market Influence Amid XRP’s Surge Meanwhile, Matt Hamilton, the former Director of Developer Relations at Ripple, clarified on Twitter that Ripple’s influence on the market is relatively constrained when considering the global daily sales volume of XRP. This assertion holds true even in light of the recent surge in XRP’s value following the resolution of the Ripple-SEC case. He stressed that the price movements of XRP are primarily governed by market forces and the performance of Bitcoin (BTC), underscoring the interplay between these factors in shaping the cryptocurrency’s trajectory. Hamilton explicitly stated that Ripple does not have authority over either XRP or the XRP Ledger (XRPL), ensuring any misunderstandings are clarified. In order to stress this notion further, he proposed the potential scenario where Ripple’s complete XRP holdings could be eradicated if the XRP community deemed it appropriate. (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 Blockchain News

Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time. However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable insights into market volatility and potential price levels. Bollinger Bands Predict Big Move For Bitcoin The Bollinger Bands consist of three distinct lines on a price chart: the middle band, the upper band, and the lower band. The middle band is a simple moving average (SMA) that represents the average price over a specified period. The upper and lower bands are derived from the middle band, with the upper band usually set two standard deviations above the SMA, and the lower band set two standard deviations below it. The primary purpose of the Bollinger Bands is to measure market volatility. When the price of an asset experiences significant fluctuations, the bands widen, indicating increased volatility. Conversely, during periods of reduced price movement, the bands contract, indicating lower volatility. This contraction is commonly referred to as a “squeeze,” where the upper and lower bands come closer together, forming a narrowing price channel. When the Bollinger Bands squeeze, the potential for a significant price movement looms. The squeeze suggests that the market is in a state of temporary equilibrium, akin to a coiled spring ready to release its stored energy. The direction of the breakout determines whether it’s a bullish or bearish signal. Up Or Down? Glassnode, a respected on-chain data provider, highlighted today the current state of the Bitcoin market, noting a remarkably low volatility environment. The 20-day Bollinger Bands are experiencing an extreme squeeze, with a mere 4.2% price range separating the upper and lower bands. This suggests that Bitcoin is currently in a period of limited price movement, “making this the quietest Bitcoin market since the lull in early January.” As Bitcoin investors may remember, the Bollinger Bands squeeze in January marked the end of a lengthy downtrend. After the FTX collapse, the BTC market was in a state of shock paralysis, which was ultimately resolved by Bollinger Bands squeeze, leading to a 42% price increase in 26 days. The Bollinger Bands’ squeeze, combined with diminishing trading volumes, creates a scenario of mounting pressure in the Bitcoin market. As trading volume declines, the potential energy stored in this coiled spring intensifies. According to the analysts at CryptoCon, the bullish scenario is the one to be favored at the moment. “When Bitcoin volatility gets low in a bear market, it’s very bearish. When volatility gets low in a bull market, it’s insanely bullish,” the analysts say. As Bitcoin is unanimously seen to be at the start of a new bull market, a strong move to the upside could be in store.

Polkadot (DOT) has enjoyed a successful three-week period, with bullish investors maintaining their position at the forefront despite fluctuations in the market. In addition, the recent legal victory of Ripple against the US Securities and Exchange Commission triggered a positive response across the entire market, benefiting not only significant cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) but also altcoins in general. Nevertheless, it is essential to note that Bitcoin and Ether experienced notable downward corrections in the short term after they attempted to surge higher last week. As a result, there might be some selling pressure soon for these leading cryptocurrencies, which could potentially harm the price of DOT. Given this scenario, how can DOT bulls regain control and overcome a potential market correction? DOT Price Update: Minor Dip, But Open Interest Improves The latest update on DOT’s price from CoinGecko shows that it currently stands at $5.30. While the cryptocurrency experienced a slight decline of 1.7% over the past 24 hours, it still managed to maintain a seven-day rally of 4.8%. However, a closer analysis of the DOT price report shows some concerning indicators. According to a report, by mid-June, the Open Interest had significantly diminished compared to its April levels, signaling a bearish sentiment. However, as the month advanced, a reversal in this trend emerged. Related Reading: Shiba Inu Encounters Familiar Resistance, Prompting Concerns About Bull Run The declining Open Interest in April, which refers to the number of open contracts in the market, served as an early indicator that hinted at the forthcoming bearish sentiment. As traders and investors reduced their positions and interest waned, it reflected a growing caution and skepticism in the market. This downward trend in Open Interest implied a decrease in market participation and a potential lack of confidence in the prevailing bullish trends. Related Reading: USTC Surprises With Nearly 60% Rally – What’s Going On? However, as June unfolded, a gradual and encouraging shift in market sentiment began to take shape. Market participants started to exhibit a more optimistic outlook, which was reflected in the increasing Open Interest. This surge in OI suggested renewed interest and activity, as traders and investors re-entered the market and established new positions. Polkadot Potential Rebound Tied To Bitcoin’s Resilience On the other hand, if BTC can stabilize or even climb back above $31,000, DOT will likely follow suit. The correlation between BTC and altcoins like DOT has been a well-established trend in the cryptocurrency market. BTC, the dominant cryptocurrency and a significant influencer of market sentiment, often sets the tone for the overall market direction. If Bitcoin regains stability and exhibits a bullish move, it tends to ignite a favorable view among traders and investors. This positive sentiment, in turn, could extend to altcoins like DOT. Therefore, for DOT bulls looking to reclaim their yard and counteract the potential negative impact of a market correction, monitoring BTC’s performance closely becomes crucial. If Bitcoin can stabilize or, ideally, recover above the significant resistance level of $31k, it would likely create a favorable environment for DOT to regain momentum. (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 VOA News

The Shiba Inu (SHIB) burn rate surged by over 6500% in the past 24 hours. Over the past week, the Shiba ecosystem recorded a burn of nearly 1 billion. While the Shiba Inu (SHIB) army awaits the upcoming launch of Shibarium in August, the past week proved favorable for the memecoin. Around 1 billion SHIB tokens were burned in the last 7 days, as per the Shibburn portal. Over the past week, an astounding 915,371,832 SHIB tokens have been burned in 139 transactions. This massive burn rate represents approximately 1 billion SHIB tokens removed from circulation, indicating a strong commitment to reducing the token supply. Highlights of Shiba Inu (SHIB) Following the 1 billion SHIB burn, the daily burn rate soared to new heights. In the last 24 hours, a total of 82,001,708 SHIB tokens were burned in just seven transactions, which surged more than 6546%. This indicated potential fluctuations in the pattern of the Shiba Inu token burn. Shiba Inu (SHIB) Burn Rate (Source: Shibburn) In addition, the largest SHIB whale, which had been dormant for 610 days, reawakened on July 13. This giant whale made a momentous move by transferring 4 trillion SHIB tokens, worth $29.8 million, to eight newly-created addresses. Markedly, this holder held 10.15% of the token’s total supply. This significant transfer emphasized the whale’s influence within the community and highlighted the involvement of large holders in the project’s journey. A series of events — noteworthy surges in token burns, the re-emergence of a giant SHIB whale, and the impending Shibarium launch — keeps the Shiba community on the edge of their seats to witness the next chapter in the project’s evolution. However, the daily trading volume of SHIB registered a drop of 32.84% in the last 24 hours. At the time of writing, according to CoinMarketCap, the Shiba Inu price was at $0.000007887, 2.31% down over the last 24 hours. Highlighted Crypto News Today: Price Volatility Looms for Shiba Inu as Trillions of SHIB Consolidate in a Sell Wall

Dubai, United Arab Emirates, July 17th, 2023, Chainwire Delegated proof-of-stake blockchain Kalima has entered into an agreement with ABO Digital, a private alternative funding group based in the Bahamas and Dubai. This significant partnership involves a commitment of US$10 million into the French-based blockchain company. Kalima has also released details of its KLX token sale. Kalima is a rapidly growing ecosystem that allows businesses, developers, and startups to build web3 enterprise and data governance applications, with a focus on IoT (Internet of Things) data in order to solve real-world problems. The Kalima team has also announced a 24-hour private sale of its KLX token on Pinksale. The event will provisionally take place on July 19. A general purpose utility token, KLX can be used to pay for transactions and access blockchain services on the Kalima protocol. To support the growth of the KLX token, on July 10 Kalima Blockchain Governance created several proposals. These include bridging the KLX token from Polygon to the Ethereum network and proposing the 24-hour token sale on Pinksale. Following completion of the private sale event, KLX will be made available for trading on Uniswap, where a KLX-ETH pair will be established. The primary objective of the private sale, which will have a hard cap of 300 ETH, is to create a sufficiently deep liquidity pool on Uniswap. The Uniswap listing of the KLX token is planned for July 21. About Kalima Kalima is a low-consumption layer one blockchain for enterprises and IoT. It provides an interconnected blockchain for achieving decentralization and increasing scalability, adopting a framework popularized by blockchains such as Cosmos and Polkadot. Kalima can be embedded into very small IoT devices and allows AI inferences to be executed at the network’s edge using its native smart contracts. About ABO Digital ABO Digital is an investment firm providing alternative financing solutions to cryptocurrency projects around the world. As part of the Alpha Blue Ocean group, which has executed more than $2B in financing commitments for publicly listed companies since its inception in 2017, ABO Digital brings institutional-grade expertise and flexible financing solutions for blockchain developers worldwide. Contact Head of PR Yousef Batter White Label Strategy [email protected] +971559356531

BitGet also has lately announced support for multiple deposit addresses similar to this. Up to twenty deposit addresses per network are available to users at this time. A new feature that will enable customers to obtain several deposit addresses for a single network has been unveiled by Binance. At launch, it supports ERC20 tokens issued on the Ethereum network as well as tokens issued on Ethereum-compatible networks such as Arbitrum One and BNB Smart Chain. In the long run, additional blockchains will be supported by this feature. In response to customer requests, Binance has added the ability to create numerous deposit addresses for a single network. The goal of this upgrade is to both provide for “airdrop hunters” and improve the security of users’ privacy. BitGet, another cryptocurrency exchange, and others have lately announced support for multiple deposit addresses similar to this. Support for More Blockchains Underway Additionally, Binance has included a deposit address book feature. Users may benefit from more financial mobility thanks to this function’s facilitation of the effective organization and maintenance of several deposit addresses. To begin, there are a variety of Ethereum (ERC20) and Ethereum-compatible alternative networks from which users may obtain deposit addresses for tokens. In the future, Binance hopes to provide support for other blockchains. Up to twenty deposit addresses per network are available to users at this time. The “Deposit Crypto” tab of Binance’s website is where users can begin things rolling. Users on a mobile device can also get to this function by going to the Binance app and clicking the “Deposit” button there. Users may then pick their preferred network to get a complete directory of deposit addresses. From this screen, they may add a new deposit address or make changes to their existing list of deposit addresses. Users may start making deposits when they’ve chosen a deposit address. Highlighted Crypto News Today: Litecoin (LTC) Makes Waves: Historic Milestone Reached Amidst Halving Event Hype

Telegram Wallet Pay enables merchants to accept BTC, USDT, and TON. 2 million Telegram members onboarded as users of its Wallet services to date. Telegram introduced Wallet Pay on Thursday, enabling merchants to accept cryptocurrency payments directly via the messaging app. This latest innovation has garnered great attention from market analysts as it simplifies crypto payments within chats by bots. Telegram Wallet Pay: What Crypto Market Should Expect? Telegram’s Wallet Pay currently offers support for three major cryptocurrencies: Bitcoin (BTC), Tether (USDT) on Tron, and Toncoin (TON). These digital assets are seamlessly integrated into the Wallet service, ensuring a user-friendly experience for Telegram’s vast user base. One important thing to be noted is that the Wallet Pay API was not officially developed by Telegram developers. Unlike self-custodial wallets like MetaMask, Telegram Wallet Pay operates as a custodial wallet. This approach simplifies the transaction process, providing users with enhanced security and convenience. During the beta period, Wallet Pay implements a fee structure ranging from 1% to 3% for crypto payments. This transparent pricing model shows fairness and enables merchants to have a clear understanding of the costs associated with their transactions. Telegram’s foray into the world of cryptocurrencies began with the TON blockchain project, which faced legal challenges from the US SEC and was ultimately abandoned in 2020. However, the torch has been carried forward by The TON Foundation, and the introduction of Wallet Pay marks a solid milestone in Telegram’s crypto journey. The integration of Wallet Pay within the Telegram interface opens up a world of possibilities for users and merchants alike. It allows businesses to tap into the growing trend of cryptocurrency payments, expanding their customer base. However, these crypto-related services rendered by Telegram have not attained a notable mark in terms of wide adoption. Evidently, only 2 million members are registered as users of the messaging app’s Wallet services. Yet as the crypto market continues to thrive, Telegram Wallet Pay is expected to play a pivotal role in promoting the mainstream adoption of cryptocurrencies. Highlighted Crypto News Today: Binance Enables Lightning Network for Bitcoin Transactions, Bullish?

The three coins that will surge by a remarkable 30x in 2023 are Pepe (PEPE), Floki (FLOKI), and Tradecurve (TCRV). These coins have gained attention due to their unique characteristics, market dynamics, and potential for exponential growth. Pepe: Trading Volume on the Rise The Pepe (PEPE) coin is similar to other meme coins because it has no inherent value and serves no purpose. Pepe is the most “memeable” meme currency created on the Ethereum network and functions as an ERC token, according to some. After its launch, Pepe saw a tremendous rise as it surged by 65.3% in the last month alone. Currently, Pepe is trading hands at $0.000001502 with a market cap of $588M, a drop of 2.58% in the last 24 hours. However, the trading volume of Pepe was on the rise as it increased by 52.49% in that same time and now sits at $114,563,089. With the Pepe technical indicators also showing buy signals, the future looks bright for the token. Floki: Following the Meme Coin Wave Floki is a meme coin that originated from Elon Musk’s beloved Shiba Inu dog, Floki. Notably, Floki has gained attention in the cryptocurrency community for its meme-inspired branding and appeal to meme-loving investors. While meme coins like Floki are highly speculative and carry risks, the popularity of such projects cannot be denied. The Floki growth potential lies in its ability to capture the enthusiasm and support of meme-loving communities. Recently, Floki announced a new strategic partnership with BitGo which sparked a rally for the token once more as it jumped by 17.1% in the past 30 days. Floki has a value of $0.0000245 with a market cap of $231M, down 1.31% overnight. On a positive note, the Floki trading volume has pumped by 10.10% and now stands at $11,701,967. With its moving averages showing buy signals, this coin could see further price increases soon. Tradecurve (TCRV): A One-of-a-Kind Trading Platform Tradecurve (TCRV) aims to solve many problems like high fees and limited access to high leveraged products by creating a platform combining the best features of CEX and DEX. The DeFi nature drastically reduces trading fees. With no sign-up KYC checks, Tradecurve stands out by providing a fully private trading environment. 12,500 individuals have already registered for it because of features like negative balance protection and enormous leverage beginning at 500:1. Currently, the presale for Tradecurve is in Stage 4, and one native token costs only $0.018, an 80% rise from its starting price. The platform raised $2.8M so far. Market analysts forecast a 100x jump after the token gets listed on a major CEX. We believe that Tradecurve has what it takes to overtake the likes of Gemini, so become an early investor now and capitalize on its growth. For more information about the Tradecurve presale: Click Here For Website Click Here To Buy TCRV Presale Tokens Follow Us Twitter Join Our Community on Telegram

The biggest blockchain conference in Vietnam, NEAR APAC, will be held at the Thiskyhall Sala Convention Centre in Ho Chi Minh City on September 9 and 10, 2023. The conference is expected to include top blockchain developers, experts, students, businesses, and startups from the Asia-Pacific (APAC) region and beyond. NEAR APAC, with the theme “Unlimited Future,” will act as a venue for exploring the most recent developments in multi-chain decentralized applications and blockchain technology within the APAC region. Beyond the usual panel discussions and keynote speeches, the conference will include a wide variety of activities aimed at inspiring and involving attendees. Participants may take part in exhilarating NFT and gaming activities, tour the Web3 Dating zone designed for entrepreneurs and venture investors, and immerse themselves in a virtual reality playground. NEAR APAC seeks to provide a vibrant and engaging atmosphere that encourages networking, teamwork, and the exploration of cutting-edge technology. NEAR APAC is projected to draw more than 8,000 people, together with speakers from more than 100 worldwide blockchain organizations, 1,000+ developers, students from more than ten universities, 300+ projects and startups, and representatives from more than 100 businesses. Join the blockchain revolution’s forerunners by registering now. MarketAcross, the top web3 PR and marketing firm in the world, which is renowned for working with organizations like Polygon and Hashed Emergent, will take part in the event as a media partner. This comes after a number of web3 events, including IVS Kyoto, WebX, Paris Blockchain Week, Korea Blockchain Week, and WebX, where MarketAcross acts as the official media partner. Each target audience has opportunities specific to the conference: Builders: Web3 Hackfest, Web3 Code Challenge, and Builder stage will be held at NEAR APAC, giving developers a chance to display their talents and participate in group coding sessions. A designated hacking space will also be available during the conference so that attendees may develop their ideas further. Visit https://web3hackfest.org/ to learn more. Venture capitalists and startups: The NEAR APAC Greenhouse Program invites entrepreneurs to participate as presenters, partners, and judges for the Hackathon. Startups may profit from the advice and assistance of knowledgeable investors. For further details, go to https://nearapac.org/the-greenhouse/. IT students, the blockchain community, and startups: NEAR The Web2 & Web3 Career Fair is presented by APAC in partnership with TOP CV, the biggest employment platform in Vietnam. Start-ups and initiatives may interact with outstanding people and identify candidates that are a good fit for their organization thanks to this exceptional chance. With new attractions created to enthrall and engage participants, NEAR APAC is further improving the event experience. A Web2 technology event will include interesting exhibits including flying motorcycles, holograms, and robot beer servers. A travel game with a substantial prize fund will encourage players to visit each booth, maximizing the advantages for booth sponsors. Participants may win a piece of the $15,000 prize pool by completing activities and collecting NFTs. These initiatives are meant to increase user interaction and provide booth sponsors with the most marketing exposure possible while the event is taking place. Register now to guarantee your position at the forefront of the blockchain revolution.

Celo’s governance forum suggests using OP Stack as the architecture. The switch would be beneficial since it would boost safety while keeping gas prices down. By shifting from an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution, CLabs, the company behind the Celo blockchain, hopes to rejoin the Ethereum ecosystem. A proposal discussed on Celo’s governance forum suggests using OP Stack as the architecture to become an Ethereum L2 blockchain. Thus “making it easy for Celo developers to utilize the full gambit of Ethereum tooling/libraries” by eliminating the need to track tooling and library composability through upgrades. Beneficial Switch Differentiating features include repurposing existing validators as decentralized sequencers for L2. As well as an off-chain data availability layer managed by Ethereum node operators and secured using restaked Ether (ETH). The primary distinction between a Layer-1 blockchain and a Layer-2 blockchain is in their intended use. While Level 1 networks are intended to function without external assistance. Level 2 solutions are created to improve the efficiency of Level 1 blockchains. It was said that the switch would be beneficial since it would boost safety while keeping gas prices down. Users wouldn’t notice any changes if the plan is accepted. And CELO token holders would retain voting power over the protocol’s fundamental agreements. CELO tokens may also be used to pay for gas. The change may have unanticipated consequences for the Celo ecosystem, despite its apparent technical nature. According to the forum debate, this might pave the way for more liquidity between Celo and other chains, but it would also result in additional expenses for sequencers in the form of fees on the data availability layer and Ethereum gas. It is also not apparent whether the benefits for sequencers would be the same as the rewards for the present validators. Highlighted Crypto News Today: Binance Enables Lightning Network for Bitcoin Transactions, Bullish?

Shiba Inu (SHIB) has faced a significant challenge in the form of the December 2022 low. This crucial level has proved a formidable barrier for SHIB bulls, thwarting their attempts to increase prices. Despite recent upside movements, the resistance at this level has proven to be persistent, creating a precarious situation for the cryptocurrency. As the price of SHIB hovers in this area, the question arises: Will the selling pressure overpower the bulls’ determination and cause a reversal in the price action? Shiba Inu Faces Bearish Order Block And Potential Liquidity Hunt SHIB faces a significant challenge as its December 2022 low coincides with a bearish order block (OB) ranging from $0.00000785 to $0.00000824. This particular range, as highlighted in a recent SHIB price report, could serve as a stronghold for bearish sentiment in the market. Consequently, the possibility of a liquidity hunt in this region cannot be disregarded, potentially leading sellers to extend their gains toward the immediate support level at $0.00000711. Amid recent market fluctuations, SHIB is currently trading at $0.00000788, based on data by crypto market tracker Coingecko. This reflects a decline of 3.4% over the past 24 hours. However, despite this short-term setback, SHIB has also notched a seven-day rally of 3.4%, showcasing its inherent resilience and potential for recovery in the long run. Decrease In SHIB Token Burns: Implications For Supply, Demand Meanwhile, Shibburn reported a notable decline in the number of tokens burned within the past 24 hours. A mere 1,233,806 SHIB tokens were burned in a single transaction, representing a sharp 91.59% decrease in the daily burn rate and in contrast, the previous week witnessed the burning of nearly 1 billion SHIB tokens. This decline in token burns carries several implications for the SHIB ecosystem. Firstly, burning tokens plays a crucial role in reducing the overall supply of SHIB, potentially exerting upward pressure on its price. However, with the significant decrease in the daily burn rate, the rate at which new tokens are being removed from circulation has slowed down considerably. This could impact the potential scarcity and perceived value of SHIB in the market. Moreover, the reduced token burns may suggest a shift in market sentiment and investor behavior. It could indicate a decreased demand for burning tokens or a temporary lull in activity within the SHIB community. Market participants and SHIB token holders will closely monitor the implications of this decline in burns on future price movements and the overall supply-demand dynamics of the cryptocurrency. (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 Bodybuilding.com

A record 592,000 Bitcoin, or roughly $17.8 billion, was accumulated when the coin was trading at $30,200, recent Glassnode data indicates. At this accumulation rate, suggesting possible demand, more entities bought more coins at the second fastest pace in the network’s history. This record was only broken when 637,000 BTC were bought at an average price of $16,500. 592,000 Bitcoin Bought At $30,200 The spike in Bitcoin accumulated at this price point preceded the decision by a United States court to rule that XRP, an altcoin issued from the XRP Ledger (XRPL), is a commodity, just like Bitcoin. The ruling on Friday, July 14, was received positively by the crypto community and temporarily lifted prices, sustaining Bitcoin above the psychological $30,000 mark. According to Glassnode, the Bitcoin Entity-Adjusted Economic Ratio Per Day (ERPD) is a metric designed to assess economic activity within the network, considering the number of entities participating. This metric is calculated by dividing the Network Value to Transactions (NVT) ratio by the entity-adjusted on-chain volume. In on-chain analysis, the NVT ratio represents the relationship between the market capitalization and the recorded on-chain trading volumes at a specific price point. A higher NVT ratio indicates a greater value than recorded trading volumes. While the NVT reading can be useful, it can also be misleading if the entities, or clustered addresses, involved in transactions are not accounted for. To correct this error, the ERPD integrates addresses involved at that price point, used in taking account of the market cap. This way, it can be easy to gauge the entities and total coins involved. Shifting Sentiment? The surge in Bitcoin ERPD development will also likely impact altcoins. Considering its liquidity and support across the board, Bitcoin sets the tone for other altcoins in crypto. Its performance and transactions can gauge market-wide sentiment, which might, in turn, change how altcoins are perceived in the current market conditions. Still, some commentators on Twitter were unsure if the metric was a positive development or a position for further price crashes. One believes that most such transactions are conducted by “paper hands” who buy Bitcoin when the price increases and are set to sell at any moment of negative news. The spike in ERPD is also ahead of the Bitcoin halving event in 2024, which, reading on historical performances, may impact prices positively, even triggering a bull run. After halving, miners would receive fewer coins, releasing even fewer for circulation, a supply shock that may support prices.