Celsius has begun selling its altcoin assets in exchange for BTC and ETH. Approx. $25 million worth of altcoins were dumped today. Post receiving approval from the U.S. court supervising its bankruptcy case, the insolvent cryptocurrency lender Celsius has begun selling its altcoin assets in exchange for Bitcoin (BTC) and Ethereum (ETH). After a brief halt in withdrawals due to a lack of client cash, Celsius filed for bankruptcy protection in July 2022. Earlier reports said that the corporation had gained permission from the U.S. court to begin converting roughly $170 million worth of altcoin assets into BTC and ETH on July 1. $25M Worth of Altcoins Sold According to blockchain analytics provider Lookonchain, Celsius has started unloading its cryptocurrency holdings. 1.27 million LINK tokens were sold for $8.5 million, 2.83 million SNX tokens were sold for $7.84 million, 12,597 BNB tokens were sold for $3 million, 4.45 million 1INCH tokens were sold for $2.26 million, 8.53 million ZRX tokens were sold for $1.9 million, and 439,000 FTT tokens were sold for $713k. All of these tokens were transferred to FalconX In addition, Celsius transferred $235,000 worth of BONE tokens (valued at 186,149 tokens) to OKEx. Out of the total altcoins holding, approx. $25 million worth were dumped today. Moreover, the “0x4131” wallet address received the majority of the altcoins. Furthermore, Celsius sent 1,393 StaFi tokens (rETH) to Wintermute Trading, and in exchange, received 1,393 ETH. With the sale of other altcoins, the pressure to sell Celsius’ biggest position, Chainlink, may be greatest. Also, the arrest of Celsius’s ex-CEO Alex Mashinsky by the DOJ coincides with this new turn of events. Mashinsky is being charged with various counts of fraud, further aggravating the company’s condition. The former CEO has pleaded not guilty to all of the charges. Highlighted Crypto News Today: More Than 3.46 Million Ethereum Burned Post London Hard Fork

Crypto exchange Binance completes the integration of Bitcoin’s Lightning Network. Binance confirmed the existence of its own Lightning nodes on June 20. Binance announced that it had completed the integration of the Bitcoin Lightning Network (LN). The crypto exchange has enabled this layer-2 scaling solution for Bitcoin (BTC) withdrawals and deposits. The Lightning Network is the layer 2 scaling solution that is primed to resolve Bitcoin’s scalability issues. This layer uses micropayment channels to scale the blockchain’s capabilities and make BTC transactions cheaper and faster. It’s worth noting that Lightning launched five years ago, in March 2018. Binance Implements Bitcoin Lightning Network Binance initially hinted at the integration of the Lightning Network in early May after it encountered network congestion due to the heavy BTC transactions. Following it, the crypto exchange confirmed on June 20 that it is working on integrating the LN. After working for the past two months, the platform has implemented this integration. It allows users to make Bitcoin (BTC) transactions faster and cheaper. This largest trading platform has onboarded other prominent exchanges such as Bitfinex, Bitstamp, OKX, and Kraken. Notably, Binance is strengthening its position as the leading crypto exchange with enhanced service and developments. Next up, the crypto community awaits Coinbase to enable Lightning Network-enabled features on its platform. At the time of writing, the Bitcoin (BTC) price was around $30,283, after displaying an insignificant increase of 0.03%. Meanwhile, the daily trading volume of BTC experienced a surge of over 2.04%, according to CoinMarketCap.

Compound (COMP) has seen a significant surge in its price, experiencing remarkable growth and gaining substantial momentum during the last month. Meanwhile, VC Spectra (SPCT) is demonstrating remarkable acumen, leaving no room for doubt about its influence and presence in the market. Stay tuned to uncover the reasons behind the positive outlook for Compound (COMP) and VC Spectra (SPCT). >>BUY SPCT TOKENS NOW<< Compound (COMP) Delivers Remarkable Performance Compound (COMP) skyrocketed from $59.08 to $70.08 in the past week, indicating an 18.61% surge. Experts say Compound’s (COMP) bullish momentum is attributed to increasing interest from institutional investors and higher transaction volumes across the network. Furthermore, Compound’s (COMP) upward trend is linked to significant whale activity across the platform. A few weeks ago, an influential wallet identified as ‘0x0D5‘ transferred 3 million USDT to Binance and withdrew 50,000 COMP tokens, equivalent to approximately $2.26 million. The same wallet proceeded to withdraw an additional 120,000 COMP, valued at approximately $5.53 million, from Binance, indicating its noteworthy presence within the Compound (COMP) network. Moreover, Compound’s (COMP) founder recently launched Superstate funds, an innovative endeavor aimed at connecting traditional markets and blockchain systems. By facilitating greater engagement from institutional investors, Superstate has the potential to enhance liquidity and fortify the stability of DeFi protocols within the Compound (COMP) network. As Compound makes notable strides, analysts indicate Compound’s (COMP) price will spike by 17.2%, from $70.08 to $82.14 in the coming weeks. VC Spectra’s (SPCT) Innovative Approach Redefines the Potential of Blockchain VC Spectra (SPCT) stands out from the competition by spearheading innovation in the realms of Fintech and blockchain technology. As a decentralized hedge fund, VC Spectra (SPCT) grants investors exclusive access to pre-ICOs and diversified portfolios. With a focus on precision, VC Spectra (SPCT) employs a meticulous selection process to identify high-potential blockchain ventures. The platform also harnesses AI to execute profitable trading decisions. Moreover, VC Spectra (SPCT) rewards investors with quarterly dividends and buybacks tied to their investment performance. VC Spectra’s native token, SPCT, operates on the secure foundation of the Bitcoin blockchain. As a BRC-20 standard token, SPCT enables efficient asset management, decentralized trading, and exchange within the Spectra ecosystem. The token adopts a deflationary framework with a burn mechanism to reduce token circulation over time. After raising $2.4 million in its private sale, VC Spectra (SPCT) is now open for its public presale. Priced at $0.008, the token has garnered significant attention, and experts predict a remarkable surge of 900% to reach $0.08 once it hits major exchanges. Find out more about the VC Spectra presale here: Buy presale: https://invest.vcspectra.io/login Website: https://vcspectra.io Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund 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.

In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), the recent order granting in part and denying in part the motion for Summary Judgment by Judge Torres has left many XRP investors eagerly awaiting the next steps. To shed some light on the situation, prominent attorney Jeremy Hogan has shared his thoughts on the matter, offering valuable insights into the potential appeal process with deadlines and its implications for both parties involved. Ripple Vs. SEC: The Next Possible Deadline Hogan, a seasoned attorney with experience in appeals, cautions that appeals are typically pursued after a case is completely finished. “After the final judgment is entered, either party has 60 days to appeal,” says Hogan who emphasized that the Ripple case is not yet finalized, any potential appeal at this stage would be considered an “interlocutory appeal.” “As far as I can see in the Rules, you have 10 days to notice an interlocutory appeal”, states Hogan. Since the Summary Judgment was issued on July 13, an appeal by the SEC or Ripple Labs would have to be filed by July 23 at the latest (or by July 24 if the deadline does not start until the following day). This means that next Monday at the latest it will become public whether one of the parties files an appeal. But an interlocutory appeal is rarely granted and generally requires compelling reasons, such as the release of significant information that could impact the case. However, Hogan points out that Judge Torres did not certify her ruling for immediate review, indicating that an interlocutory appeal might not be granted in this scenario. This suggests that the SEC and Ripple would need to wait for a final judgment before pursuing an appeal. Hogan believes that both parties might ultimately choose not to appeal for various reasons. According to the lawyer, the SEC might hesitate to appeal because, even if successful, it could potentially jeopardize their overall case. Winning the appeal would retract some unfavorable aspects of the trial-level case. However, if the SEC were to lose at the appellate level, it could set a precedent that all courts in the 2nd DCA (Second District Court of Appeals) would have to follow, amplifying the impact of their loss. On the other hand, Hogan believes that Ripple may opt not to appeal if it can afford to pay the fine and if the ruling’s effect on its business, particularly the aspect concerning the On-Demand Liquidity (ODL) feature, is manageable. These factors, combined with the fact that Ripple secured a favorable outcome in the ruling, might dissuade them from pursuing an appeal. When considering the potential difficulties in winning an appeal, Hogan emphasizes that Judge Torres is the one who has meticulously reviewed the entire case record. This makes the appellate process inherently challenging for either party, further reducing the likelihood of an appeal. Regarding the SEC’s challenge in appealing the secondary market sales aspect, which presents a problematic area for the regulatory body, Hogan admits that he hasn’t solidified his thoughts on the matter yet. XRP Price The XRP price has taken a breather after the stunning rally following the Ripple summary judgment. After being rejected at the 38.2% Fibonacci retracement level at $0.93, the XRP price is currently trading at $0.7481. After a possible retest of the 23.6% Fibonacci retracement level at $0.68, the impulsive move may see a continuation. The final verdict in the Ripple v. SEC case and possible appeals will certainly continue to have a strong impact on the price.

The value and popularity of TerraUSD Classic, or USTC, the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, have skyrocketed recently. Today, the stablecoin makes a surprise rally, sparking a great deal of interest among investors and cryptocurrency aficionados. The sharp growth in USTC could be an indication of a sharp rise in demand and emphasizes the market’s rising confidence in this stablecoin. Data from crypto market tracker Coingecko shows USTC trading at $0.0186, notching a 24-hour increase in value of 21.4%. In the last seven days, the stablecoin registered an impressive 58% rally, causing its trading volume to balloon to a solid 409%. USTC Organic Growth Pushes Stablecoin Up Despite the fact that the causes of this upswing are yet unknown, the recent spike in USTC’s value shows organic growth. “Organic growth” refers to the increase in value of USTC that occurs naturally, without the influence of external factors or artificial means. It suggests that the growth is the result of the company’s internal operations, strategies, and market dynamics, rather than being driven by external factors such as acquisitions, mergers, or financial manipulations. After it was de-pegged more than a year ago, USTC saw a huge price decline. Since USTC is a stablecoin with a 1:1 tie to the USD, its price should always be $1. The stablecoin has since traded at lower prices, reaching a 52-week high of $0.06 during that time. There are signs, nevertheless, that USTC could revisit the $1 level and recoup its worth. The TerraUSD Classic de-pegging caused major difficulties for the larger digital currency ecosystem, and its effects are still being felt today. A few Web3.0 firms with exposure to its parent company Terraform Labs went out of business in addition to the more than 99% decline in price of its linked cryptocurrency, Terra Classic. The implosion of FTX Derivatives Exchange was finally driven by the bankruptcies of Celsius Network and Voyager Digital, which prolonged the crypto winter even further. Meanwhile, in order to expand supply and rekindle interest in the stablecoin, the Terra Classic community is launching projects like staking and burning LUNC tokens while also working to improve infrastructure. Will The Terra Classic Stablecoin Retest $1? There is growing consensus that the TerraUSD Classic token is steadily approaching a retesting of the significant $1 price level. Among investors and enthusiasts alike, this strong rising trend has spurred new optimism. As the TerraUSD Classic token gains momentum, it boosts community members’ faith in its capability to uphold its pegged value and function as a dependable digital asset. The community may become excited and eager in anticipation of a probable retest of the $1 price level, which would improve the outlook for TerraUSD Classic’s long-term prospects. (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 Analytics Insight

Startup Open Asset Standards has recently announced QED, the world’s first ZK 2.0 blockchain protocol. Unlike existing zero knowledge blockchain protocols, QED has a novel state model which is horizontally scalable, meaning it is no longer limited by TPS restrictions that have previously prevented adoption of blockchain technologies in Web2 use cases such as social networks, traditional finance, and gaming. Enabled by advances in fast recursive zero knowledge proofs, QED is able to achieve this scale without compromising security or decentralization and proves all transactions end-to-end using proof recursion (verifying a zero knowledge proof in a zero knowledge proof ). This process of decentralized recursive proving culminates in a single block proof which can be verified by an Ethereum smart contract, making the protocol only reliant on the Proof of Math itself, rather than an incentive based consensus system vulnerable to collusion, hacking and misaligned incentives. As the first blockchain capable of serving billions of users in a single block, QED does away with the need for a zk-VM by compiling smart contract functions directly to zero knowledge circuits, making it the first zk-Native blockchain. QED’s novel approach to ZKP allows users to prove their own transactions on their own device in milliseconds, enabling a new privacy centric internet where transactions are private by default and sensitive data never has to leave a user’s device. With its announcement of the QED Protocol, Open Asset Standards unveiled QED’s official Dapen Smart Contract IDE. With Dapen, Web2 developers can write zk Smart Contracts in the world’s 2 most popular programming languages, JavaScript and Python, which have a developer market share 357 times larger than the Solidity community which only makes up a miniscule 0.1% of the world’s developers. In addition to making blockchain accessible to more developers than ever before, Dapen has integrated support for Markdown smart contracts which allow even non-technical users to write smart contracts in English using their integration with several large language AI models (LLMs) including ChatGPT. Backed by Animoca Brands’ fund Sparkle Ventures whose General Partners include Sebastien Borget, Co-founder of Sandbox, and Yat Siu, Co-founder of Animoca Brands, QED is set to see major adoption within the gaming space which regularly support millions of concurrent gamers playing at once. Due to its horizontal scaling model, QED is able to add transaction processing capacity by simply adding more proving nodes to its network, allowing large scale gaming to integrate with blockchain technologies such as dynamic NFTs for the first time. Headed up by Founder and CEO Carter Feldman, a former childhood hacking prodigy and reverse engineer, the QED core team is made up of a diverse team from both Web2 tech giants and Web3 titans including Binance, reflecting the protocol’s mission to unite Web2 and Web3. Contact Information Website: www.qedprotocol.com Twitter: Official: @qedprotocol Founder: @cmpeq Email: [email protected] 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.

seychelles, seychelles, July 17th, 2023, Chainwire As part of Flipster’s (formerly AQX) name launch, the business today announced an additional 1,500,000 USD worth of bonus rewards to encourage new users to join and trade on their exchange. Until the rewards are fully distributed, the futures exchange will run at least one campaign per week to encourage new users to signup and trade derivatives on the Flipster platform. Under the old name the exchange has already made available more than 400,000USDT worth bonus in past campaigns. The first promotion in the series kicked off on the 17th of July, 2023 (running for seven days). A massive 110,000 USDT in bonuses has been allocated. 10,000 USDT to reward new users when completing identity verification with a 10 USDT Bonus. The remaining 100,000 USDT bonus is to incentivise and reward high volume traders that give the platform a chance. The top performer by trading volume will be rewarded with 10,000 USDT in Bonus at the end of the weekly campaign. Flipster has reimagined futures trading with a mobile-first approach to appeal to casual crypto traders with limited experience in derivatives trading (or, as they say, Flipping). The method is to specialize in derivatives trading, stripping back the app experience to make it faster to learn and easier to use. Novice traders can open, close and monitor positions from any location. Potentially meaning some users may make more money on the bus to work, than from their days Labor. Beyond ease of use, the portable experience makes trading fun and feels less like a technical task. The flip to a mobile-first approach came after initially having a web experience similar to other futures exchanges. The traditional UI for futures trading has a steep learning curve and is considerably more technical, which strongly contrasts with the UI that most contemporary apps users have become familiar with. The data concluded that users new to derivatives were not attracted to this experience as it had been built for experienced traders. The Flipster team discovered a few alternative UIs for future trading and none that have successfully been created to onboard new users to crypto futures trading at scale. While the focus is on simplicity, Flipster has features that will spark the interest of experienced traders as well. The exchange regularly adds new perpetual swap contracts, and as of today, over 120 assets can be traded with leverage, making Flipster a competitive exchange for traders to consider. Amongst their assets are tokens not found for futures on other exchanges and some even with low visibility in spot markets. Get started by creating a Flipster account flipster.xyz About Flipster Founded in 2021, Flipster (ex AQX) is the industry’s easy-to-use crypto derivatives trading platform. It offers users an all-in-one platform trading more than 120 tokens with leverage up to 50x. Get started at flipster.xyz to join online or download the app and play store. For media enquiries including interviews with the team reach out at [email protected] For more information follow Flipater on Twitter. Contact Head of Marketing Ben Rogers Prex Ltd [email protected]

Uniswap’s UNI started a decent increase above $5.35 against the US Dollar. The price is likely to continue higher above $6.00 and $6.20 in the near term. UNI started a fresh increase after forming a base above the $4.75 level against the US dollar. The price is trading above $5.65 and the 100 simple moving average (4 hours). There was a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI/USD pair (data source from Kraken). The pair is likely to continue higher if it clears the $6.00 and $6.20 resistance levels in the near term. Uniswap’s UNI Regains Traction After forming a support base above $5.00, UNI started a fresh increase. The bulls were able to push Uniswap’s price above the $5.25 and $5.30 resistance levels, similar to Bitcoin and Ethereum. There was also a break above a major contracting triangle with resistance near $5.35 on the 4-hour chart of the UNI/USD pair. The pair gained pace and tested the $6.30 zone. A high is formed near $6.291 and the price started a downside correction. There was a break below the $6.00 level. UNI price tested the 50% Fib retracement level of the upward move from the $5.09 low to the $6.291 high. Source: UNIUSD on TradingView.com The price is now trading above $5.50 and the 100 simple moving average (4 hours). On the upside, the price is facing hurdles near $6.00 and $6.10. A close above the $6.10 level could open the doors for more gains in the near term. The next key resistance could be near $6.30, above which the bulls are likely to aim a test of the $6.80 level. Any more gains might send UNI toward $7.00. Dips Supported? If UNI price fails to climb above $6.00 or $6.20, it could correct further lower. The first major support is near the $5.70 level. The next major support is near the $5.50 level. It is close to the 61.8% Fib retracement level of the upward move from the $5.09 low to the $6.291 high. A downside break below the $5.50 support might open the doors for a push toward the key $5.10. Technical Indicators 4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level. Major Support Levels – $5.65, $5.50 and $5.10. Major Resistance Levels – $6.00, $6.30 and $6.80.

OFX Exchange presents a sophisticated platform catering to individuals aspiring to optimize their earnings and attain sustainable financial growth within the cryptocurrency market. By offering tailored VIP quantifying plans to suit varying trading expertise and investment capacities, the platform fosters accessibility for traders at different levels of experience and resources. With a mere minimum deposit requirement of 1 USDT, participants can engage in lifelong quantifying plans, capitalizing on a diverse selection of USDT-based cryptocurrencies and crypto assets available on the platform. Central to the trading system of OFX Exchange lies an advanced quantitative trading mechanism driven by cutting-edge AI research. This system streamlines decision-making processes by meticulously analyzing valuation, funding, and trading opportunities, culminating in the development of precise action strategies. By granting traders a simplified process to identify profitable opportunities at the click of a button, the platform’s automated system empowers users with confidence to navigate the cryptocurrency market. Quantifying income percentages offered by OFX Exchange vary based on the user’s VIP level, which spans from VIP 0 to VIP 6. Each VIP level encompasses specified minimum and maximum quantified amounts, granting users the freedom to tailor their investments according to individual preferences and risk tolerance. Whether an individual holds a VIP 0 membership, commencing with a minimum quantified amount of 1 USDT, or a VIP 6 membership, boasting a capacity to invest up to 300,000 USDT, the quantifying plans provide flexibility and the potential for substantial earnings. Additionally, as users progress through the VIP levels, the frequency of quantifying times per day escalates. This ensures that individuals at higher VIP levels gain more opportunities to capitalize on favorable trading conditions, thereby endowing them with a competitive edge in maximizing potential earnings. OFX Exchange places great emphasis on cultivating a robust community. Users are encouraged to invite friends to join the platform through invitation codes or referral links. By doing so, users not only expand their network but also earn commission income when their referred friends successfully finalize their quantifying income. The platform incorporates three referral levels, each correlating to a distinct commission rate, enabling users to generate passive income while fostering the success of others. When users successfully refer friends, and their team members earn quantifying income, the commission income rebates are directly deposited into the user’s account, available for withdrawal. Furthermore, for every successful referral deposit of 50 USDT, a deposit rebate of 3 USDT is granted. In conclusion, OFX Exchange provides traders with a comprehensive and efficient trading ecosystem. Fueled by quantitative AI research, their platform equips users with informed trading decisions, potential profitability, and the means to build enduring wealth within the cryptocurrency market. With enticing incentives, VIP quantifying plans, and opportunities for team-building, OFX Exchange stands as a reliable partner for traders seeking to conquer their financial aspirations. Official Website: Registration link : Twitter: Facebook: WhatsApp Helpline: Telegram Helpline: Telegram Channel: Live Chat: License: White Paper: Company Introduction:

Bitcoin price failed to surpass $31,800 and corrected most of its gains. BTC is now attempting a fresh increase from the $29,950 support zone. Bitcoin is consolidating losses above the $30,000 support zone. The price is trading below $30,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $30,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above $30,400. Bitcoin Price Holds Key Support Bitcoin price rallied above the $31,400 resistance but there was no follow-up move. BTC struggled to clear the $31,800 level and stayed below $32,000. A high was formed near $31,790 before there was a sharp decline. There was a move below the $31,000 and $30,400 levels. The price even spiked below $30,000. A low is formed near $29,950 and the price is now consolidating losses. Bitcoin is now trading below $30,500 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $30,320 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $30,300 level and the trend line. The first major resistance is near $30,400. It is near the 23.6% Fib retracement level of the downward move from the $31,790 swing high to the $29,950 low, above which the price could gain bullish momentum. Source: BTCUSD on TradingView.com In the stated case, BTC might rise toward the $30,850 resistance. It is close to the 50% Fib retracement level of the downward move from the $31,790 swing high to the $29,950 low. The next major resistance is near the $31,150 level. Any more gains could open the doors for a move toward the $31,80 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $30,380 resistance, it could start a downside correction. Immediate support on the downside is near the $30,200 level. The next major support is near the $30,000 level, below which there could be a drop toward the $29,750 support zone. Any more losses might send the price toward the $29,350 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $30,200, followed by $30,000. Major Resistance Levels – $30,380, $30,850, and $31,150.

Ethereum price failed to stay above $2,000 and corrected lower against the US Dollar. ETH could start a fresh rally if there is a move above $1,950. Ethereum started a downside correction and tested the $1,900 level. The price is trading below $1,950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,930 and $1,950 resistance levels. Ethereum Price Could Restart Rally Ethereum’s price rallied above the $1,970 resistance. ETH even climbed above $2,000 but failed to extend gains. A high was formed near $2,027 before there was a bearish reaction. There was a move below the $1,950 support zone and the 100-hourly Simple Moving Average. The price even tested the $1,900 level. A low is formed near $1,900 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level downward move from the $2,027 swing high to the $1,900 low. Ether is also trading below $1,950 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH/USD. On the upside, immediate resistance is near the $1,930 level. The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,975 resistance zone. It is close to the 61.8% Fib retracement level downward move from the $2,027 swing high to the $1,900 low. Source: ETHUSD on TradingView.com The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,120. More Losses in ETH? If Ethereum fails to clear the $1,930 resistance, it could a fresh decline. Initial support on the downside is near the $1,920 level. The first major support is near the $1,900 level, below which the price might gain bearish momentum. The next major support is near the $1,850 support level. Any more losses could send Ether toward the $1,825 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 – $1,900 Major Resistance Level – $1,950

CMC reports a 24-hour increase in value of 20.18% for the stablecoin TerraUSD Classic. The stablecoin’s 24-hour trading volume has increased by 409%. The algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, TerraUSD Classic (USTC), is on a meteoric rise today, demonstrating a tremendous upsurge of interest in the stablecoin. CMC reports a 24-hour increase in value of 20.18% for the stablecoin TerraUSD Classic, which now stands at $0.01803. The overnight purchasing momentum of the stablecoin suggests its rise is organic, albeit the reasons for the recent uptick remain unknown. Massive Volume Surge According to the numbers, the stablecoin’s 24-hour trading volume has increased by 409%, reaching $$154,222,673. It seems that the widespread adoption of the stablecoin has driven its price. Since its historic de-pegging incident more than a year ago. USTC has been trading much lower, with a 52-week high of $0.06. USTC is a stablecoin pegged to the USD at a 1:1 ratio, therefore its price should be $1. There were widespread negative consequences from TerraUSD Classic’s de-peg, and these effects are still being felt today. Some crypto firms that had dealt with Terraform Labs, the parent business of Terra Classic, fell down as a result of the coin’s price dropping by more than 99.9 percent. The crypto winter was prolonged by the collapse of FTX Derivatives Exchange. Which was in turn driven by the bankruptcies of Celsius Network and Voyager Digital. Many in the community believe that the TerraUSD Classic token, which has had a massive price increase recently, is gaining momentum to retest the $1 mark. This is a fairly bold prediction, but the LUNC community is working hard to improve its infrastructure in order to accelerate the burning of LUNC and to promote novel initiatives like staking that may renew enthusiasm for and increase the supply of the stablecoin. Highlighted Crypto News Today: Price Volatility Looms for Shiba Inu as Trillions of SHIB Consolidate in a Sell Wall

At the current ETH exchange rate, the total value of the destroyed ether is $6.68 billion. More than 230,000 ether has been burnt in NFT transactions on Opensea. It’s been almost two years since the London hard fork, which saw the deployment of EIP 1559. As a result of this major update, the base fee component of a transaction fee on the Ethereum network is being consumed constantly, 24 hours a day. Statistics show that after the London hard fork, more than 3.46 million ether have been burned. At the current ETH exchange rate, the total value of the destroyed ether is $6.68 billion. Since EIP-1559 went into force, this amounts to almost 146,000 ether being destroyed per month, on average. Diversified Sources Ethereum’s deflationary strategy, wherein the total amount of ETH is gradually reduced, was made possible via EIP-1559. The majority of the Ethereum decrease, equivalent to almost 300,000 ETH, may be attributed to regular ETH transfers. More than 230,000 ether has been burnt in NFT transactions on Opensea, while about 200,000 ether has been burned by Uniswap v2. More than 150,000 ETH have burned in Tether transactions, while more than 200,000 ETH have been destroyed between Uniswap versions 3 and 1. There are around $232.53 billion worth of ETH distributed across 120,201,621 accounts. Since EIP-1559 went into effect, little more than 3 million ether have been created. Since The Merge on September 15, 2022, when the Ethereum network switched from a PoW blockchain to a PoS blockchain, 304 days have passed. The network would have produced 6.5 million ether if the Merge never happened. There are now 120 million ETH in circulation; this number would increase by 9.9 million if the chain stuck to a PoW approach and refused to apply EIP-1559. Highlighted Crypto News Today: TerraUSD Classic (USTC) Witnesses 20% Surge in Price

Shiba Inu struggles to break critical price threshold despite recent increase. Substantial sell-off of Shiba Inu reported near critical price point. Concentration of SHIB presents challenges for holders. The Shiba Inu has been experiencing significant fluctuations in the market as it struggles to surpass the critical threshold of $0.0000084 per SHIB. Despite a recent increase of more than 12% in the past few days, each attempt to exceed this level has resulted in a false breakout, leading to subsequent sell-offs. Reports indicate that a substantial amount of Shiba Inu tokens, specifically 1.453 trillion SHIB, were sold when the price approached this crucial point. It’s important to note that these figures pertain to Binance’s spot market. Data shows concentration of trillions of Shiba Inu However, this is just part of the story. According to data from IntoTheBlock, there is a significant concentration of more than 60 trillion tokens between the current price and the $0.00001 per SHIB level. Holders of these coins are currently experiencing losses, with a notable concentration of 26 trillion coins within the $0.000008 to $0.000009 range. This considerable volume presents a challenging situation. Unless there is a substantial increase in buying power to absorb this extensive supply, it is expected that the price of SHIB will continue to experience downward pressure within this range. Unfortunately, current market conditions suggest that buying power alone may not be sufficient to counterbalance the sell-off of slightly over a trillion tokens.

Litecoin surpasses 170 million transactions, setting new records. LTC halving event: a major milestone approaches. The exciting halving event is set to happen on August 2. A significant milestone has been achieved by Litecoin as it processes its 170 millionth transaction on its network. The announcement on Twitter highlights the continuous growth of LTC, with an addition of over 10 million transactions in the past seven weeks. This achievement holds significance as the network has maintained uninterrupted uptime throughout its over 11-year history. Known as the “Digital Silver” to Bitcoin’s “Digital Gold,” Litecoin emphasizes its unique distinction as the only blockchain with such a long track record of continuous uptime. Litecoin’s much-awaited halving to happen soon The upcoming (LTC) halving in 2023 is generating significant anticipation among supporters of proof-of-work (PoW) cryptocurrencies. It will be the third halving in Litecoin’s history, following those in 2015 and 2019. With approximately 18 days remaining until the event, expectations are rising, as indicated by increased search trends for Litecoin reported by on-chain analytics firm IntoTheBlock. This approaching halving event is considered a crucial factor driving the increased interest surrounding LTC. OKLink’s analytics platform provides a countdown to the halving event, currently at 17 days and 3 hours, with an expected date of August 2. There are approximately 9,875 blocks left before the event takes place. The halving event will reduce Litecoin mining rewards from 6.25 LTC to 3.125 LTC and is generally viewed as a positive development.

SNX, the native token of the Synthetix Network, has been on the rise, gaining more than 35% in the past week. The cryptocurrency continues to exhibit strong bullish momentum, having registered a positive market performance over the past few weeks. SNX’s recent price surge has been linked to the positive sentiment surrounding the Synthetix network. A few days ago, the protocol announced its plan to release a new decentralized exchange (DEX). Synthetix Token Tallies 35% In One Week – Price Overview The cryptocurrency market experienced a jolt of positivity after the long-running battle between payments and technology firm Ripple – the company behind XRP – and the United States Securities and Exchange Commission (SEC) came to a positive conclusion on Thursday. US District Judge Annalisa Torres delivered a landmark judgment declaring the XRP token as non-security, thereby granting a decisive triumph for Ripple. However, unlike other cryptocurrencies, the price of SNX barely reacted to this piece of news. The token’s value increased by a mere 5% following the announcement of the court’s decision. SNX did experience a surge of its own the following day. On Friday, July 14, the token’s price jumped by nearly 40%, touching the $3 level before retracing back to $2.5. As of this writing, the Synthetix token is valued at $2.82, with an 8% price increase in the last 24 hours. With a market cap of $903.4 million, SNX ranks as the 47th-biggest cryptocurrency, according to CoinGecko data. The recent increase in SNX’s price is believed to have been triggered by the announcement of a new Synthetix trading product. In a blogpost released on Friday, the protocol’s founder Kain Warwick unveiled plans to introduce a new derivatives front-end called Infinex. What Is Infinex? Infinex is a new derivatives front-end to the decentralized trading infrastructure of Synthetix. The exchange is expected to be an improvement on the already-existing Kwenta, Synthetix’s derivatives decentralized exchange on Optimism. According to Kain Warwick, Infinex will remove the impediments to the growth of Synthetix’s decentralized trading ecosystem. Firstly, it will address the inconvenience of acquiring sUSD, Synthetix’s stablecoin, to begin trading on Kwenta. Also, it will eliminate the need to sign every action on the current platform. Warwick claims that the purpose of Infinex is to provide competition for centralized exchanges (CEXs) while eliminating any uncertainty surrounding decentralized perpetuals (Perps). The blogpost also revealed that Infinex will cater to users familiar with CEX platforms, providing its trading services through a username and password. With this, users would be able to generate a public-private key pair, which will be locally stored in the browser. It is worth noting that this key pair is not designed for fund withdrawals. Instead, it would be used to sign trades on the upcoming decentralized exchange. While the blogpost didn’t reveal the exact launch date of Infinex, it disclosed that the project’s introduction should come alongside the release of Synthetix’s Perps V3. Related Reading: Stablecoin TrueUSD To Be Fully Controlled By Asian Owner

At the end of the survey of similar cases, 8.9% voted yes, while 19.3% said no. Bank of America was penalized this week by the CFPB and the OCC. On Wednesday, Muneeb Ali, co-founder of Stacks, a Bitcoin layer for smart contracts, disclosed on Twitter that Bank of America (BOFA) had abruptly cancelled his bank account of 15 years without providing an explanation. He thinks the account was closed because he used it to buy crypto using Coinbase. Coinbase CEO Brian Armstrong replied to the tweet by inquiring whether any other users had experienced problems while using Bank of America. The CEO of Coinbase expressed his displeasure with this possibility on Twitter. He then went to Twitter to see if anybody else had had their Bank of America accounts frozen for using his cryptocurrency exchange. Mixed Response by Users At the end of the survey, 16,701 people had cast their vote; 8.9% voted yes, while 19.3% said no. In response to Armstrong’s survey, several respondents offered their own stories, with some claiming they had never had any problems. However, several reported that their bank had frozen or cancelled their accounts because of their crypto purchases. Bank of America was penalized this week by the CFPB and the Office of the Comptroller of the Currency (OCC) for “illegally charging junk fees, withholding credit card rewards, and opening fake accounts.” More than $100 million will go to compensate victimized customers, while another $150 million will go to fines paid to the two regulatory bodies. Coinbase, on the other hand, has announced that its staking service would be discontinued in four American states. In order to meet the standards set by the regulatory authorities in those jurisdictions, Coinbase, one of the biggest and most popular cryptocurrency exchanges in the U.S, took this route of action. Highlighted Crypto News Today: Shiba Inu (SHIB) Team Unveils New Revamped Landing Page

Lummis emphasized the need for a transparent crypto environment post-XRP verdict. The Senator’s work is indicative of rising awareness among legislators. On Twitter, Wyoming Republican Senator Cynthia Lummis emphasized the significance of the latest court judgment by Judge Analisa Torres that the Ripple-associated token XRP is not a security. Senator Lummis tweeted on the verdict and its implications for crypto regulation, stressing their importance. According to her, this judgment shows that Congress must act quickly. In order to pass a sweeping crypto framework that puts consumer safety first. The Senator, a long-time crypto advocate, emphasized the need for a transparent crypto environment in supporting innovation and protecting investors. The Senator stressed the need to protect Howey Test’s judicial precedent. She referred to the legislation she co-introduced with Senator Kirsten Gillibrand, known as the Lummis-Gillibrand bill. Investment and Growth Stifled Moreover, the goal of this legislation is to standardize the way digital assets are regulated under the Howey Test as used by the Southern District of New York. The senator’s request for action in the Senate is not without validity. The crypto sector as a whole is likely to be affected by the continuing legal dispute between Ripple Labs and the SEC. The case’s resolution may have far-reaching implications for the future of digital asset regulation in the United States. Furthermore, the lack of consensus on how to regulate the nascent blockchain industry has stifled investment and new business creation. To what extent Senator Lummis’ request for statutory clarity in the crypto market will be met by Congress remains to be seen as the case develops. Her work, however, is indicative of a rising awareness among legislators. That the crypto economy needs innovative regulation in order to reach its full potential. Highlighted Crypto News Today: Dogecoin Price Struggling for a Trend Reversal; Awaiting Breakout

In today’s news, the prominent stablecoin TrueUSD – with the ticker TUSD – is now undergoing a management change. According to a thread this morning by the project’s official Twitter handle, Archblock Inc., the current TUSD operator, has begun the transfer of total control of Token to its Asian-based owners, Techteryx Ltd. Techteryx Finally Assumes Control Of TrueUSD Back in December 2020, Techteryx acquired ownership of TUSD but hired Archblock to keep maintaining the stablecoin’s operations. And for the last two years in which Archblock remained TUSD’s operator, Techteryx claims to have been focusing on expanding the token’s foreign use cases in the global markets. Related Reading: BUSD Market Cap Plunge Of 80% Raises Concerns Of Impending Collapse However, Archblock has now commenced the transfer of control yesterday, July 13, marking the end phase of TUSD’s international transition. Upon completion, Techteryx will reportedly assume full management of all aspects of the stablecoin’s operation. These controls will include mining and redemptions, customer onboarding and compliance, conservation of fiat reserve, and maintenance of banking and fiduciary relationships. During the transition period, Archblock will continue to support the US-based TUSD users, with Techteryx stepping in with the necessary guidance and further updates. Prior to today’s news, TUSD has attracted some interest especially following Binance’s recent moves with the stablecoin. On June 21, the cryptocurrency exchange announced the launch of a TUSD zero-maker fee promotion for spot and margin trading pairs beginning from June 30. Interestingly, Binance had minted $1 billion worth of TUSD on the Tron network a week before making that announcement becoming the largest holder of the token. Related Reading: Stablecoin Market Share Dwindles As USDC And BUSD Supply Deplete At the time of writing, Ethercscan data shows that Binance accounts for over 68% of TUSD’s circulating supply, estimated at $1.92 billion. With a market cap value of $2.8 billion, TrueUSD currently ranks as the 5th largest stablecoin and 27th largest cryptocurrency, according to data by Coingecko. The Stablecoin Market In 2023 Stablecoins are considered a vital part of the crypto space, especially due to their constant value, allowing traders and investors to avoid the volatility of the crypto market. According to data from DeFi ilLama, the stablecoin market has been on the decline all year, with its total market cap shrinking from $137.79 billion on January 1 to its current value of $126.96 billion, accounting for 9.86% of the total crypto market. Related Reading: Stablecoin Sharks & Whales Show Strong Accumulation, Good Sign For Bitcoin? Unsurprisingly, Tether USDT (USDT) has remained the leader of the pack, with a market cap of $83.5 billion, with Circle’s USDCoin (USDC) following with a market cap of $27.08 billion. Following the regulatory embargo that halted its issuance in February, Binance USD (BUSD) – with a market cap of 3.99 billion – lost over 75% of its market share, slipping to fourth place behind the DAI stablecoin, which currently boasts a market cap of $4.28 billion.

The news of Ripple’s recent partial victory against the SEC after a legal battle spanning almost three years sent a ripple of joy around the entire crypto industry. However, according to a legal expert on Twitter, Lawyer Bryan Jacoutot, the victory might be short-lived as SEC has enough grounds to appeal the decision and drag this thing out for a lot longer. The SEC’s Lawsuit Against Ripple Labs The SEC filed a lawsuit against Ripple Labs in December 2020, alleging that Ripple had conducted an unregistered securities offering worth over $1.3 billion through the sale of XRP. According to the SEC, XRP is a security under federal securities laws. But the court determined on June 13 that the random “programmatic sale” of XRP to regular investors does not constitute the sale of an unregistered security under Howey. However, sales to institutional investors fall under Howey, which is used in the United States to determine whether a transaction qualifies as an investment contract. In this case, the Court found that the buyers couldn’t know who was selling them the XRP, unlike the institutional investors who would expect Ripple Labs to use the capital for the betterment of the Ripple ecosystem. According to Jacoutot, the Court’s reasoning is weak and Howey was misapplied in the case. The Court reasoned that regular investors bought XRP fully knowing that it is subject to the general cryptocurrency market trends, especially secondary sales of XRP tokens. However, Jacoutot believes those buying XRP would have also expected to make a profit from the efforts of Ripple Labs. The attorney also made a case of the Ethereum Foundation, as everyone who took part in the pre-sale of ETH knew they were buying from Ethereum Foundation. When looking at the XRP ruling in a similar manner, this would mean institutional investors of the ETH presale also bought unregistered securities. What Does The Ruling Mean? According to Jacoutot, the ruling opens up a few loopholes that can be exploited. In a tweet by attorney Joe Carlasare on Twitter, it explains that the logic of the ruling leaves an opening that can be used to lawfully launch a pyramid scheme. In this case, profits from the “programmatic sales” to retail investors can be distributed to institutional investors. Ripple CEO Brad Garlinghouse has said the ruling provided relief and that the company could now promote the various use cases for Ripple and its technology without worrying about legal repercussions. This is definitely a win for Ripple, but an appeal by the SEC could drag out the legal battle for years and create another round of major uncertainty in the crypto market. The price of XRP skyrocketed after the ruling. It is now up by 50% this month and is currently trading at $0.7154.