all posts Blockchain Explained

💰 US spot #bitcoin ETFs rebound to daily net inflows of $158 million; BTC hovers at $63,500 Spot bitcoin exchange-traded funds in the U.S. recorded net inflows of $158.21 million on Thursday after seeing $52 million in net outflows from the day before. Ark Invest and 21Shares’ ARKB led the pack of inflows yesterday with $81.07 million, according to SoSoValue data. Fidelity’s FBTC followed with $49.88 million in net inflows, and Bitwise’s BITB saw positive flows worth $10.36 million. Source https://t.me/Blockchain_Explained

💰 Bitcoin set for rally after Federal Reserve rate cut, Standard Chartered says Bitcoin and the broader digital asset market are poised for a sustained boost following the U.S. Federal Reserve’s recent decision to cut interest rates by 50 basis points, according to Standard Chartered's Geoff Kendrick. The bank's head of forex and digital assets research suggested that macroeconomic factors will drive digital asset prices higher, irrespective of the outcome of the upcoming U.S. presidential election in November. Source https://t.me/Blockchain_Explained

💰 MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering MicroStrategy has increased its convertible debt offering to $875 million from $700 million to purchase more Bitcoin, according to a Sept. 18 statement. The Virginia-based company aims to raise these funds by selling convertible senior notes with an interest rate of 0.625% annually. These unsecured senior obligations will be available to institutional investors in a private sale. The notes are set to mature in September 2028. Source https://t.me/Blockchain_Explained

🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years. 🤝 @Cryptocurrency_Inside ✅

🇺🇸 SEC Takes Action Against Fake Crypto Platforms Using Social Media to Deceive Investors The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from unsuspecting investors. The charges mark the first SEC enforcement actions against such scams. Source https://t.me/Blockchain_Explained

🟠 Binance reiterates assertion it never owned or controlled WazirX amid ongoing $230 million hack fallout Crypto exchange giant Binance reiterated its claim that it does not own, control or operate WazirX in any way and accused a director of its parent company of making “misleading statements” to the contrary on Tuesday. WazirX suffered an exploit resulting in the unauthorized transfer of over $230 million worth of crypto assets on July 18. The exploit targeted the exchange’s multisig wallet on the Ethereum network, potentially resulting from a private key compromise, and drained the funds. Source https://t.me/Blockchain_Explained

💰 MicroStrategy buys $1.1 billion in #Bitcoin amid market volatility MicroStrategy acquired approximately 18,300 Bitcoin for $1.1 billion between Aug. 6 and Sept. 12 at an average price of $60,408 per BTC, according to a Sept. 13 filing with the US Securities and Exchange Commission (SEC). Coinflip data shows the company’s latest purchase already has a paper loss of $2.2 million due to the top digital asset’s current volatility. Source https://t.me/Blockchain_Explained

🟠 US authorities pressure Nigeria to release detained #Binance exec Tigran Gambaryan The U.S. government is pushing Nigerian officials to release Tigran Gambaryan, the Binance executive who has been detained in the country for the past seven months, according to The New York Times. The move comes amid deteriorating health conditions for Gambaryan and mounting pressure from onlookers advocating for his release. Source https://t.me/Blockchain_Explained

🪙 Ethereum’s Buterin vows to support only highly decentralized Layer-2 projects Ethereum co-founder Vitalik Buterin announced a change in how he will discuss Layer 2 (L2) projects starting next year. In a Sept. 12 X post, Buterin said he would only publicly recognize L2s that have reached Stage 1 or higher in their decentralization efforts regardless of his investment. According to him, a network would require 75% consensus from the council to override the proof system, with at least 26% of council members being independent of the rollup. Source https://t.me/Blockchain_Explained

🚨 Indodax hit by $20.5M exploit, North Korea link suspected Indonesian crypto exchange Indodax has reportedly suffered a $20.5 million exploit, according to blockchain security firm Cyvers. The losses were spread across multiple chains, including a $1.4 million loss in Bitcoin and a $5 million theft on the TRON and Polygon networks. Other impacted blockchains were Optimism and Ethereum, which had over $14 million in losses. Source https://t.me/Blockchain_Explained

🥇 Jim Bianco says Bitcoin ETFs have failed to attract TradFi or ‘boomer’ investors Jim Bianco, a macro expert, recently shared his views on why Bitcoin ETFs have failed to drive adoption among TradFi investors, or “boomers.” He highlighted several factors explaining this shortfall while highlighting the shift from inflows to outflows and record losses for ETF holders. Bianco noted that Bitcoin ETF holders are facing a substantial $2.2 billion in unrealized losses, as the average purchase price for BTC ETFs stands at $61,000, based on Friday’s Spot BTC close of $52.9k. Source https://t.me/Blockchain_Explained

🪙 Tether addresses $102 million agricultural investment: land is "crucial asset class" The latest business that caught the eye—and the capital— of Tether, issuer of the world's largest stablecoin and the most valuable company in crypto, has been revealed. Between July 29 and August 16 of this year, Tether's investment division purchased shares worth about $102 million in South America-based agricultural giant Adecoagro SA, which trades on the Nasdaq stock exchange as AGRO, filings show. Source https://t.me/Blockchain_Explained

🪙 Ethereum Underperforms Bitcoin 2 Years After The Merge, According to Cryptoquant Data Ethereum has underperformed bitcoin by 44% since The Merge, according to research from Cryptoquant. Despite significant upgrades and the recent approval of ethereum spot exchange-traded funds (ETFs), the cryptocurrency continues to face challenges relative to bitcoin. Source https://t.me/Blockchain_Explained

💰 US spot bitcoin ETFs saw $211 million in outflows, extending streak of negative flows Spot bitcoin exchange-traded funds in the U.S. saw $211.15 million in net outflows on Thursday, recording their seventh consecutive day of negative flows. Fidelity’s FBTC saw the largest amount of outflows among spot bitcoin ETFs, with $149.49 million, according to data from SoSoValue. Bitwise’s BITB followed with $30 million in net outflows. Both Grayscale’s GBTC and mini trust recorded outflows on Thursday. Source https://t.me/Blockchain_Explained

🇺🇸 US crypto firms ramp up lobbying efforts, expenditures up 1386% over 7 years A recent study has revealed that US crypto companies have significantly increased their lobbying efforts, with expenditures rising by 1386% from 2017 to 2023. According to data compiled by Social Capital Markets, crypto firms spent $40.42 million lobbying for regulatory changes during 2023 alone, signaling the growing importance of government relations in the industry. Source https://t.me/Blockchain_Explained

🪙 Ethereum CME futures trading volume hits 9-month low in August Chicago Mercantile Exchange (CME) Ethereum futures volume dwindled to a multi-month low in August, according to The Block's data. Aggregated monthly trading volumes of CME Ethereum futures for the month of August were $20.8 billion, according to The Block's Data Dashboard. The trading volumes, estimated in dollar terms, show a 31% decline from July's $30.5 billion. According to The Block's data, August's trading volume was a low not seen since November 2023. Source https://t.me/Blockchain_Explained

🌟 Join the #1 Crypto News Channel on Telegram: Cryptocurrency ↪ Inside! 🌟 Stay ahead with: - 📰 Real-Time Updates: Get the latest news instantly. - 🔗 In-Depth Analytics: Powerful blockchain insights. - 📅 Market Trends: Expert analysis and forecasts. Join our vibrant community and stay updated with our active Twitter feed. The only news source you need! 🔗 Join now: @Cryptocurrency_Inside #advertising

🪙 Grayscale unlock hindered Ethereum ETFs but inflows suggest brighter future The US-traded spot Ethereum (ETH) exchange-traded funds (ETFs) registered $476 million in negative net flows during the first month of trading, failing to overcome the outflows stemming from the unlock of Grayscale’s ETHE. Bloomberg senior ETF analyst Eric Balchunas the “heroic” performance of the Newborn Nine spot Bitcoin (BTC) ETFs, which recorded enough inflows to heavily overshadow the massive outflows experienced by GBTC. Source https://t.me/Blockchain_Explained

🔵 Ethervista launches on Ethereum, aims to outshine Pump.fun with secure liquidity locks Ethervista is a decentralized exchange (DEX) that introduces a novel approach to liquidity management and token launches on the Ethereum network. One of its key features is the 5-day liquidity lock for creators, which helps prevent rug pulls that often occur within the first four days of a project’s launch on platforms like Pump.fun. Source https://t.me/Blockchain_Explained

📊 Phishing scams dominate August’s $300M crypto losses – report Blockchain security firm CertiK reported that crypto projects were exploited for a total of $310 million in August, the second-highest monthly total this year. The firm noted that $10.3 million of the stolen assets were recovered or returned, reducing the net loss to $300.6 million. Source https://t.me/Blockchain_Explained

⬜️ OKX wins Singapore license, former MAS official takes reins as regional CEO Crypto exchange OKX’s Singaporean entity, OKX SG, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) and appointed former regulator Gracie Lin as CEO, according to a Sept. 2 announcement. To qualify, companies must be registered in Singapore, maintain a permanent place of business with record-keeping, have a minimum capital base of $250,000, and include at least one director who is a Singaporean resident or citizen. Source https://t.me/Blockchain_Explained

💰 Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. Source https://t.me/Blockchain_Explained

💰 Bitcoin’s Hash Price Is at All-Time Low The Bitcoin hash price, a metric measuring miner revenue per terahash or computing power, has fallen to its lowest level ever. According to recent data, this is a sign of upcoming bullish momentum. Woominkyu shared a chart highlighting the relationship between the price of bitcoin and the network’s hash price. The chart showed periods when a drop in hash price corresponded with BTC bottoms; hence, based on historical data, lower hash level periods have occurred simultaneously with BTC price bottoms. Source https://t.me/Blockchain_Explained

🪙 Ethereum Foundation disburses $8.5M in grants for Q2, backing 98 projects The Ethereum Foundation Ecosystem Support Program (EFESP) allocated a total of roughly $8.5 million to support 98 projects, according to the foundation’s inaugural grants allocation report published on Aug. 30. Although the report breaks down the projects by type, recipient, and contact, it does not provide a detailed breakdown of how much each project received. Source https://t.me/Blockchain_Explained

🇸🇻 El Salvador’s Bukele says ‘Bitcoin hasn't had the widespread adoption we hoped for' Nayib Bukele, the president of El Salvador who passed the bill to legalize bitcoin as legal tender in the Latin American nation, said the monetary experiment has had mixed results so far. “Bitcoin hasn't had the widespread adoption we hoped for. Many Salvadorans use it. The majority of large businesses in the country have it,” Bukele said in a wide-ranging interview with TIME Magazine when asked if bitcoin monetization has “been a success.” Source https://t.me/Blockchain_Explained

🟠 Binance CEO Addresses Allegations of the Exchange Seizing All Palestinian Funds The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces. Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external pressures and engaging in discriminatory practices. He called for a boycott of Binance and supported platforms that prioritize user privacy and autonomy. Source https://t.me/Blockchain_Explained

💰 Bitcoin's Latest Difficulty Rise Challenges Miners Already Facing Revenue Slump Bitcoin’s difficulty ticked up 2.99% on Wednesday, reaching 89.47 trillion, where it will stay until Sept. 10, 2024. The network’s difficulty metric essentially functions like a self-adjusting thermostat for the Bitcoin network, maintaining a consistent pace of block creation regardless of fluctuations in mining power. Simply put, if hashpower increases and blocks are mined too quickly, the difficulty rises. Source https://t.me/Blockchain_Explained

❄️ TON activity halted twice in a single day, surpassing ten-hour downtime The Open Network (TON) is facing another block production halt after nearly six hours of downtime experienced earlier today. According to on-chain data, the latest block was produced four hours ago. In an X post, the official TON profile attributed the disruption to the minting of DOGS, a token distributed to Telegram users as a reward. Additionally, the post stated that users’ funds were not at risk. Source https://t.me/Blockchain_Explained

Telegram CEO Pavel Durov has been released under judicial supervision in France. He is required to pay a €5 million deposit and is prohibited from leaving the country. 🤝 @Cryptocurrency_Inside ✅

💰 Bitwise CIO says Powell’s remarks could spark a new Bitcoin bull run Bitwise CIO Matt Hougan believes that US Federal Reserve Chair Jerome Powell’s recent dovish comments could ignite a new bull market for Bitcoin. On Aug. 21, Powell hinted that interest rate cuts are imminent. This message has sparked optimism among investors, who believe lower rates will benefit Bitcoin. Source https://t.me/Blockchain_Explained

💰 Bitcoin crashes over 6% to $58k before attempting recovery Bitcoin (BTC) fell over 6% on Aug. 27 to a low of $57,880 before marking a slight recovery. The majority of the losses were recorded in less than an hour after Bitcoin lost the key $61,000 support level and continued sliding until finding a new floor. The wider market echoed the bleeding, with large caps down significantly from the highs reached over the past weekend. Source https://t.me/Blockchain_Explained

🇷🇺 Russia Set to Launch Crypto Payment Trials Next Week, Report Russia is reportedly set to start trials for cryptocurrency exchanges and digital token payments on Sept. 1 to mitigate payment difficulties caused by international sanctions. These trials will involve the National Payment Card System and could lead to the establishment of crypto trading platforms if successful. Legislation was recently passed to legalize crypto mining and regulate digital tokens for cross-border transactions under the central bank’s oversight. Source https://t.me/Blockchain_Explained

🇹🇭 Thai Law Authorities Raid Illegal Bitcoin Mining Facility: Report The report shows that illegal Bitcoin miners operate in small houses to circumvent taxes in Thailand. Thailand’s law authorities recently raided a house occupied by a company running Bitcoin mining operations. According to the South China Morning Post’s coverage, the illegally operated Bitcoin mining activities triggered frequent power outages in the vicinity for over a month. Source https://t.me/Blockchain_Explained

⚪️ Gate.io Announces Official Sleeve Partnership with Inter Gate.io, a world’s leading cryptocurrency exchange, is proud to announce a partnership with FC Internazionale Milano (“Inter” or “Club”), one of the most prestigious football clubs in the world and the reigning champions of Serie A. Starting from the 2024/25 season, Gate.io will become the Official Sleeve Partner for Inter, which will see its logo on the sleeves of the playing kits for both Men’s and Women’s teams, in addition to the Club’s U20 teams. Source https://t.me/Blockchain_Explained

🇨🇴 Colombian Data Protection Authority Formulates Charges Against Worldcoin The Colombian Industry and Commerce Superintendence (SIC), the personal data protection authority of the country, has formulated charges against Worldcoin, the biometric digital ID project, for violations of the personal data regime. The institution stated that the accusation focuses on determining whether Worldcoin violated Colombian law in its handling of the personal and private data collected from Colombian users. Source https://t.me/Blockchain_Explained

❄️ Telegram founder Pavel Durov arrested in France, TON price drops 16% Pavel Durov, the 39-year-old founder and CEO of the encrypted messaging app Telegram, was arrested around 8 PM on Saturday at Le Bourget airport in France. Durov, a French-Russian national, was detained by the Air Transport Gendarmerie (GTA) upon disembarking from his private jet. He was accompanied by a bodyguard and a woman. Source https://t.me/Blockchain_Explained

💰 Bitcoin Demand Still Weak, But Stablecoin Liquidity is Increasing: CryptoQuant Historical on-chain data shows that high bitcoin (BTC) demand often precedes price recoveries and rallies; however, this is not the case at the moment. Current market dynamics suggest that such price movements are unlikely in the near term because BTC demand growth has remained at low levels. A recent report from CryptoQuant revealed that bitcoin demand has slowed significantly since early April, when the crypto asset hovered around $70,000. Source https://t.me/Blockchain_Explained

💰 Bitcoin on-chain and derivatives data suggests market optimism: analyst The bitcoin price is currently holding above the $60,000 mark amid optimistic on-chain and derivatives market signals. CryptoQuant charts show that bitcoin exchange reserves on centralized exchanges in August have fallen to a multi-year low. Since the end of July, bitcoin supply on exchanges has fallen from over 2.75 million to around 2.67 million — a 3% drop in the past 30 days. Source https://t.me/Blockchain_Explained

💰 Bitcoin dominance surges to 60% amid crypto market downturn Bitcoin dominance, a term used to describe the total market share that bitcoin maintains relative to other cryptocurrencies, has surged to a yearly high amid a wider pullback among digital assets and global equities markets. Bitcoin’s total market cap now represents nearly 60% of the total amount of capital in the crypto industry, according to The Block’s data page. This is up from a bitcoin dominance of about 51% on Friday. Source https://t.me/Blockchain_Explained

💰 Antpool mines consecutive Bitcoin blocks, earns nearly $2 million amid Babylon staking surge Antpool has recently mined two consecutive Bitcoin blocks, securing nearly $2 million in total revenue from both block subsidies and transaction fees, according to mempool.space. Following that, Block 857911 featured 15.55 BTC in fees, amounting to around $950k. This surge in transaction fees is largely attributed to Babylon, a Bitcoin staking platform that recently gained significant traction. Source https://t.me/Blockchain_Explained

🇺🇸 Stablecoins hold around 1% of US Treasury bills today – Bitwise Juan Leon, Senior Investment Strategist at Bitwise Invest, highlights the growing influence of stablecoins in the US Treasury bill market. Currently, stablecoins hold approximately 1% of US Treasury bills, but Leon projects this could surge to 15%, potentially making them one of the top three holders of these securities. Leon shared a Bloomberg chart illustrating that as of June, Tether held $80.9 billion in Treasury bills, surpassing Schwab’s US Treasury Money Fund at $70.7 billion and Fidelity Investments’ Money Market Treasury Only Fund at $79 billion. Source https://t.me/Blockchain_Explained

JUST IN: 🇩🇪 German authorities seize 13 Bitcoin ATMs and nearly €25 million in cash in a crackdown on operators allegedly violating KYC/AML laws 🤝 @Cryptocurrency_Inside ✅

🚨 Hackers compromise McDonald’s Instagram account to conduct $700k rug pull Fast food chain McDonald’s’ Instagram profile promoted a scam memecoin deployed on Solana (SOL) after being compromised. The token — called GRIMACE — hit a $25 million market capitalization within two hours of its launch before it was rugged and lost more than 95% of its value. The scammers, who identified themselves as “India_X_Kr3w,” claim to have snagged roughly $700,000 from investors who believed the memecoin was an official McDonald’s’ token. Source https://t.me/Blockchain_Explained

🪙 Grayscale outflows overshadow Ethereum ETF inflows Despite initial enthusiasm, spot Ethereum ETFs haven't quite met market expectations, with significant outflows overshadowing positive inflows. The on-chain holdings of Ethereum ETFs are substantial, yet they've faced a net outflow of 136,700 ETH since their launch, a drag largely due to Grayscale's ETHE. Ethereum's price has reacted predictably, dropping sharply post-launch before finding some stability. Source https://t.me/Blockchain_Explained

💰 CME BTC futures open interest dips then rebounds to $5.64 billion as institutional investors adjust to volatility Open interest (OI) of longs on CME futures by asset managers reached $4.97 billion two weeks ago. This marks the metric's lowest point since early March and is a significant drop from the all-time high of $6.74 billion observed in the first week of July. The recent dip suggests that asset managers have been reducing their long exposure to BTC, possibly in response to recent market volatility or as part of risk management strategies in a period of macroeconomic uncertainty. Source https://t.me/Blockchain_Explained

🌟 Join the #1 Crypto News Channel on Telegram: Cryptocurrency ↪ Inside! 🌟 Stay ahead with: - 📰 Real-Time Updates: Get the latest news instantly. - 🔗 In-Depth Analytics: Powerful blockchain insights. - 📅 Market Trends: Expert analysis and forecasts. Join our vibrant community and stay updated with our active Twitter feed. The only news source you need! 🔗 Join now: @Cryptocurrency_Inside #advertising

💰 VanEck insists Solana ETF ‘remains in play’ despite regulatory uncertainty Matthew Sigel, VanEck’s head of digital assets research, said the firm’s Solana spot exchange-traded fund (ETF) application is still active despite the removal of the 19b-4 form from the Chicago Board Options Exchange (Cboe) website. Over the weekend, the crypto community noticed that the 19b-4 filings for VanEck and 21Shares—documents filed by exchanges on behalf of issuers—had disappeared from the Cboe site. Source https://t.me/Blockchain_Explained

🇳🇬 Nigerian lawmakers eye economic boost through crypto taxation The Nigerian Federal Inland Revenue Service (FIRS) plans to introduce legislation to tax the growing crypto sector, according to local media outlet Business Day. FIRS Executive Chairman Zacch Adedeji announced this during a session with the National Assembly’s Finance Committees, highlighting that the new regulation would drive economic growth while encouraging innovation. Source https://t.me/Blockchain_Explained

🪙 Bitcoin Fog founder argues 30-year sentence ‘vastly exceeds’ similar cases Roman Sterlingov, the man behind the crypto mixer Bitcoin Fog, is contesting a potential 30-year prison sentence following his conviction on several money laundering charges. In a 37-page sentencing memorandum submitted to the US District Court for the District of Columbia, Sterlingov’s defense team contends that the recommended sentences of 30 and 20 years by the prosecution and Probation Office, respectively, “vastly exceed” the penalties imposed in similar cases. Source https://t.me/Blockchain_Explained

💰 PayPal founder and billionaire Peter Thiel says #Bitcoin is so big that society didn't even know how to process it 🤝 @Cryptocurrency_Inside ✅

🌟 Join the #1 Crypto News Channel on Telegram: Cryptocurrency ↪ Inside! 🌟 Stay ahead with: - 📰 Real-Time Updates: Get the latest news instantly. - 🔗 In-Depth Analytics: Powerful blockchain insights. - 📅 Market Trends: Expert analysis and forecasts. Join our vibrant community and stay updated with our active Twitter feed. The only news source you need! 🔗 Join now: @Cryptocurrency_Inside #advertising

🐶 After famous Notcoin, Telegram organized new airdrop among users: #DOGS! Your airdrop depends on ⚫ Account age ⚫ Telegram premium sub ⚫ OG status Check and claim your #DOGS here You can sell your tokens on Bitget premarket, price is around $0.01! And it will be listed on OKX on the 20.th this month.

💰 US Bitcoin ETFs ‘on track’ to top Satoshi’s BTC stack soon United States Bitcoin ETFs have added around 37,510 BTC to their holdings each month on average and could soon surpass Satoshi Nakamoto's estimated stash.  🤝 @Cryptocurrency_Inside ✅

🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000. He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season. What’s your prediction for Solana’s price? 🌚 - $180 ❤️ - $250 ⚡️ - $350 🐳 - $500 🤝 @Cryptocurrency_Inside ✅

💰 Bitfarms boosts production by 33%, increases Bitcoin holdings above 1,000 BTC Bitfarms said its Bitcoin production and holdings increased last month despite the rising mining difficulty, according to an Aug. 31 statement. The crypto miner revealed a 33.8% rise in Bitcoin production for July, attributed to a higher hashrate. Bitfarms mined 254 BTC in July, up from 189 BTC in the previous month. The firm also grew its hashrate to 11.1 EH/s by the end of July from 10.4 EH/s. Source https://t.me/Blockchain_Explained

💰 Fidelity launches competitive Bitcoin ETP on London Stock Exchange Fidelity International has launched the Fidelity Physical Bitcoin ETP on the London Stock Exchange for professional investors, according to a July 31 press release. The launch comes as Bitcoin investment products are multiplying worldwide following the record-setting success of US-based spot Bitcoin exchange-traded funds (ETFs) launched in January. Source https://t.me/Blockchain_Explained

🇺🇸 Sen. Lummis draft bill allows US states to hold 💰 bitcoin Sen. Cynthia Lummis' bill lays out a pathway for the U.S. to hold bitcoin and gives states the option to do so as well, according to a draft copy obtained by The Block. The bill is called the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024” or shorthand, the "BITCOIN Act of 2024," according to a draft version. Source https://t.me/Blockchain_Explained

🇺🇸 US government-associated crypto wallet transfers $2 billion of DOJ-seized bitcoin: Arkham data A wallet labeled as belonging to the U.S. government transferred $2 billion worth of bitcoin to an unidentified wallet on Monday, according to Arkham Intelligence data. The nearly 28,000 BTC, valued at over $2 billion, appears to be tied to funds the U.S. Department of Justice previously confiscated from the now-defunct dark web market Silk Road. Late last year, a U.S. appeals court finalized a mandate that formalized the forfeiture of 69,370 of bitcoin and other crypto connected to Silk Road. Source https://t.me/Blockchain_Explained

💰 Bitcoin 7-Day Hashrate Average Hits Record 677 EH/s, Surpassing May 25 High According to recent data, bitcoin’s total hashrate achieved a record high this week, based on the seven-day simple moving average (SMA). On July 25, the hashrate, measured by the seven-day SMA, reached 677 exahash per second (EH/s), surpassing the 659 EH/s recorded on May 25. Source https://t.me/Blockchain_Explained

💰 SEC approves Grayscale Bitcoin Mini Trust, awaiting registration statement greenlight The U.S. Securities and Exchange Commission approved Grayscale's mini version of its Grayscale Bitcoin Trust (GBTC) on Friday. The agency specifically approved the 19b-4 form for the Grayscale Bitcoin Mini Trust. The trust, under the ticker symbol "BTC," is intended to be a “spin-off” of GBTC, with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust, according to an S-1 filing posted in March. Source https://t.me/Blockchain_Explained

💰 Senator Hagerty says loving Bitcoin is in every American’s ‘DNA’ – praises Trump’s stance US Senator Bill Hagerty passionately advocated for Bitcoin and the principles of decentralization during his speech at the Bitcoin2024 conference, highlighting the alignment of these values with American ideals of liberty and autonomy. Hagerty said during his appearance at the Bitcoin2024 conference on July 26 that the flagship crypto represents the fundamental principles of freedom — drawing parallels with the ideals of America’s founding fathers. Source https://t.me/Blockchain_Explained

🪙 Hashdex files S1 for an ETF that holds bitcoin and ether, leaves door open for other assets Crypto asset management firm Hashdex took the next move in its plan to launch an exchange-traded fund that directly owns spot bitcoin and ether, establishing what could be the first index-based crypto ETF in the United States. Hashdex filed its registration statement, also called an S-1, with the U.S. Securities and Exchange Commission on Wednesday. The fund, called the Hashdex Nasdaq Crypto Index US ETF would own bitcoin and ether, but could later hold more assets depending on how the regulatory landscape unfolds. Source https://t.me/Blockchain_Explained

🪙 Ethereum has less short-term price potential than bitcoin, QCP Capital analysts say Options traders are now anticipating more significant price movements for bitcoin compared to ether, reflecting a potential shift in short-term market sentiment that favors the former over the latter. After the highly anticipated trading of Ethereum spot exchange-traded funds (ETFs) commenced on Tuesday, the expected market surge failed to materialize. In the past 24 hours, Ethereum has traded down 1.4%, now changing hands for $3,455 as of the time of writing, according to The Block's Price Page. Source https://t.me/Blockchain_Explained

🪙 Ethereum ETFs soar with $361 million volume in first 90 minutes Spot Ethereum exchange-traded funds (ETFs) debuted to robust investor interest within the first 90 minutes of trading, amassing a total volume of $361 million across the nine newly launched ETFs. Bloomberg senior ETF analyst Eric Balchunas shared the initial data on social media and noted that the impressive start ranks these ETFs among the top 1% in overall ETF volume, comparable to well-established funds such as TLT and EEM. Source https://t.me/Blockchain_Explained

🇺🇸 ETHEREUM ETFs TO START TRADING TODAY 🤝 @Cryptocurrency_Inside ✅

💰 July crypto inflows surpass $3 billion milestone, driven by Bitcoin ETF demand Crypto investment products saw their third straight week of inflows last week, reaching $1.35 billion. This has pushed the total inflows for July to surpass $3 billion, according to CoinShares’ latest weekly report. Notably, ETP trading volumes also rose significantly last week, increasing by 45% week-on-week to $12.9 billion. However, this significant volume only accounts for 22% of the overall crypto market volume. Source https://t.me/Blockchain_Explained

🚨 WazirX halts trading following $230 million exploit, offers bounty for recovered funds Cryptocurrency exchange WazirX has halted trading across its platform as it deals with the fallout from a recent exploit, which saw $230 million drained from its wallet as the result of a private key compromise on July 18. "The cyber attack theft has impacted our ability to maintain 1:1 collaterals with assets, and we've temporarily paused trading," WazirX wrote in an announcement post on X. Source https://t.me/Blockchain_Explained

🏦 BlockFi repayments to creditors to begin this month through Coinbase Bankrupt crypto lender BlockFi said in a post on X that it will begin interim crypto distributions through Coinbase in July. “The distributions will be processed in batches in the coming months, and eligible clients will receive a notification to the BlockFi account email on file,” the company said. It added: “Please note that non-US clients are unable to receive funds at this time due to the regulatory requirements applicable to them.” Source https://t.me/Blockchain_Explained

🪙 Five spot Ethereum ETFs, including Fidelity, will launch on July 23, exchange Cboe says in notices Spot Ethereum exchange-traded funds, including ones from Fidelity and VanEck, will begin trading on July 23, according to exchange Cboe. Cboe, where many of the proposed Ethereum ETFs will trade, disclosed that they will begin trading next week. These include the Fidelity Ethereum Fund, the Franklin Ethereum ETF, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF and the 21Shares Core Ethereum ETF. Source https://t.me/Blockchain_Explained

🚨 Indian exchange WazirX hit by $235 million hack, North Korea link suspected Blockchain security firm Cyvers Alert reported that the Indian exchange WazirX was exploited for around $235 million. Blockchain analyst Lookonchain reported that the stolen assets included 5.43 trillion SHIB tokens (worth $102 million), 15,298 ETH (valued at $52.5 million), 20.5 million MATIC (worth $11.24 million), 640.27 billion $PEPE (worth $7.6 million), 5.79 million USDT, and 135 million GALA (worth $3.5 million). Source https://t.me/Blockchain_Explained

🪙 BlackRock sets 0.25% fee in latest round of amended forms as firms gear up to launch spot Ethereum ETFs Asset management giant BlackRock set its fee at 0.25% for its spot Ethereum product as firms file amended forms ahead of an expected launch date next week. BlackRock said it could "waive all or a portion" of the fee for certain periods of time, according to an amended S-1 registration statement filed on Wednesday. The firm also said it would wave a portion of the fee, bringing it down to 0.12% for a year after listing and for the first $2.5 billion in assets. Source https://t.me/Blockchain_Explained

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💰 Japan's Metaplanet buys additional $1.2 million worth of bitcoin, shares surge 26% Japanese investment firm Metaplanet Inc. saw its stock price jump 25.8% during the Tuesday morning session after announcing that it has purchased additional bitcoin worth about $1.26 million. The Tokyo-listed company disclosed today that it bought an additional 200 million yen worth of bitcoin, or 21.877. That brings its total bitcoin holdings to 225.611 BTC, or about 2.25 billion yen ($14.2 million). Source https://t.me/Blockchain_Explained

💰 Peter Brandt Anticipates Bullish Move for Bitcoin, Says 'Bears Are Trapped' Veteran trader Peter Brandt’s recent bitcoin analysis suggests a bullish momentum, noting that a bear trap is confirmed by the July 13 close. However, this outlook is contingent on bitcoin staying above $56,000. Brandt recently predicted a potential BTC peak at $150,000 by late 2025. Source https://t.me/Blockchain_Explained

📊 Crypto investment products saw $1.4 billion in net inflows last week: CoinShares Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $1.44 billion last week, according to CoinShares' latest report. The figures represent one of the largest registered weekly net inflows, bringing year-to-date figures to a record $17.8 billion, as digital asset investment products saw further buying on price weakness, CoinShares Head of Research James Butterfill wrote. Source https://t.me/Blockchain_Explained

🪙 290,000 ETH Added to Liquid Staking Protocols Ahead of Spot ETF Launch According to data, liquid staking protocols accumulated an additional 290,000 ether in the past 46 days. This increase raised the proportion of ETH in liquid staking protocols by 0.24%, bringing the total to 11.18% of Ethereum’s 120.2 million circulating supply. At the time of writing, 13.44 million ether is locked into liquid staking protocols, with Lido holding 72.3% of that amount. On May 29, Lido had 9.51 million ETH, which has increased to 9.71 million today. Source https://t.me/Blockchain_Explained

💰 Robert Kiyosaki Renews Bitcoin Buy Recommendation, Citing Wall Street Loading Up on BTC Rich Dad Poor Dad author Robert Kiyosaki has renewed his bitcoin buy recommendation, noting that Wall Street is loading up on the cryptocurrency. He urged investors to seize opportunities amidst challenging circumstances. The famous author recently predicted that bitcoin could soar to an astounding $10 million following an economic crash. Source https://t.me/Blockchain_Explained

📊 Bitcoin and ether slide as equities sell-off despite rising rate-cut expectations Bitcoin, ether, and other major altcoins fell further on Friday alongside equity indices, despite indicators boosting the odds that the U.S. Federal Reserve could begin a rate cut cycle in September. The bitcoin price traded lower over the past 24 hours, down 3% to change hands for $57,189 at 7:51 a.m. ET, according to The Block's Price Page. Major altcoins such as ether and Solana also fell 2% and 5%, respectively, in the same period. Source https://t.me/Blockchain_Explained

💰 Bitcoin miner Bitfarms sets vote date on Riot's attempted takeover step Bitcoin miner Bitfarms has set Oct. 29, 2024, as the date for a special meeting of its shareholders to vote on reconstituting its board of directors following Riot Platforms’ requisition for the meeting on June 24. Bitfarms shareholders as of the record date of Sept. 26, 2024, are entitled to vote at the meeting, the firm said in a statement on Friday, but are not required to take any action at this time. Source https://t.me/Blockchain_Explained

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💰 Exchange Bitcoin Reserves Fall Sharply This Week, Reaching $4B Outflow According to data from the past 40 days, the San Francisco crypto exchange and custody service Coinbase has experienced withdrawals totaling 12,585 BTC since June 1. Meanwhile, Binance has reported inflows of approximately 30,082 BTC during the same period. Despite these shifts, centralized exchanges have seen 70,966 BTC, valued at $4 billion, withdrawn over the last eight days. Source https://t.me/Blockchain_Explained

💰 From 50,000 to 4,925 BTC: Germany's Bitcoin Sell-off Continues Germany now holds fewer than 5,000 bitcoin following its recent divestment on Thursday. Since 9 a.m. EDT that day, wallets operated by the German government transferred 5,000 BTC, reducing its holdings to 4,925 BTC. As of 1 p.m. EDT on Thursday, July 11, 2024, the German government holds 4,925 BTC, valued at approximately $283 million. The wallets have divested about 5,000 BTC since 9 a.m., including 3,185 BTC moved during overnight sessions. Source https://t.me/Blockchain_Explained

🪙 Ethereum ETF issuers eagerly waiting on the SEC to provide details on potentially final filings: Sources Prospective Ethereum ETF issuers are eagerly waiting on the U.S. Securities and Exchange Commission to provide updates on the pending launches after handing in their latest S-1 forms on July 8. "The next step would be to hear from the SEC on what's next. Do they want final drafts? by when?" said a source at one issuer. They noted that what they hear from the agency next will be highly informative. Source https://t.me/Blockchain_Explained

💰 Bitcoin whales are accumulating at their fastest rate since April 2023: CryptoQuant Bitcoin long-term holders are adding to their holdings at the fastest monthly rate since April 2023, according to CryptoQuant analysts. "Bitcoin whales have been increasing their holdings at a monthly growth rate of 6.3%, the fastest pace since April 2023, indicating rising demand for bitcoin," CryptyQuant said. Wednesday's market report from the analytics firm noted that the increase in bitcoin demand from long-term holders is supporting the digital asset's price. Source https://t.me/Blockchain_Explained

💰 Post-halving volatility triggers significant Bitcoin futures liquidations Over the past month, Bitcoin has experienced notable price fluctuations, with the price dropping from around $60,000 in mid-May to below $55,000 by early July. This period saw spikes in futures long liquidations, suggesting significant volatility in the market. In early March, as Bitcoin’s price surged toward $70,000, liquidations also spiked exceeding — $180 million. This trend highlights the high-risk nature of leveraged trading during periods of rapid price movement. Source https://t.me/Blockchain_Explained

⚪️ PayPal's stablecoin surpasses $500 million market cap following Solana expansion PayPal’s U.S. dollar-pegged stablecoin, launched in August 2023 through a partnership with custodian firm Paxos — has seen its market supply exceed half a billion tokens. Following its rollout, PYUSD’s supply reached 230 million by the end of 2023. Since then, the total supply of stablecoins has more than doubled, surpassing the 500 million mark (or $500 million) this month, according to DeFiLlama data. Source https://t.me/Blockchain_Explained

🏦 Coinbase Ventures invests in Ampleforth's flatcoin technology, SPOT launches on Base Coinbase Ventures, the corporate venture capital arm of crypto exchange Coinbase, has invested $1 million in a strategic funding round for Ampleforth Foundation’s decentralized low-volatility commodity money, SPOT. “SPOT is the culmination of five years of research and development by our team, and it fulfills our vision for using blockchain technologies to create a ‘better money’ rather than replicating dollars onchain,” Fragments CEO Evan Kuo said in a statement shared with The Block. Source https://t.me/Blockchain_Explained

🇩🇪 German government continues to transfer thousands of bitcoins to exchanges and market makers The German government transferred 133.722 bitcoins to market maker Cumberland DRW today before sending 150 coins to crypto exchange Kraken and 1,000 coins to the B2C2 Group, according to blockchain analytics platform Arkham. It also transferred 300 bitcoins to Coinbase and 300 bitcoins to Bitstamp, as well as 1,000 bitcoins to market maker Flow Traders. Source https://t.me/Blockchain_Explained

💰 Germany's Bitcoin Wallet Dips Below 40,000 BTC After Weekend Transfer This weekend, the German government’s wallet transferred another 1,400 BTC, valued at $80.12 million, according to the latest Arkham Intelligence data. This action followed recent deposits of approximately 1,915 BTC. On that day, the wallet held 41,226 BTC, but it now holds 39,826 BTC, worth $2.28 billion using BTC exchange rates on July 7. The wallet’s transactions have unsettled the crypto community, casting a shadow over the market in recent weeks. Source https://t.me/Blockchain_Explained

📊 Web3 Users Surge by 40%, Reaching Historic High in Q2 In the second quarter of 2024, Web3 user engagement hit an all-time high, with approximately 10 million daily unique active wallets (dUAW), marking a 40% increase from Q1. According to a July 4 report by blockchain analytics platform DappRadar, the unprecedented growth spanned various sectors of the decentralized application (DApp) industry, leading to an overall bullish trend. Source https://t.me/Blockchain_Explained

💰 $537 million Binance deposits tied to BTC price drop suggest whales selling: LookOnChain Two wallets have deposited 9,500 to Binance since June 27, potentially indicating whales liquidating nearly $550 million in cryptocurrency. The wallets, first spotted by blockchain analytics firm Lookonchain, could represent whales cashing in on their bitcoin holdings, which are currently valued at $537 million. When the transfers began last week, the stash was worth closer to $575 million. Source https://t.me/Blockchain_Explained

🪙 Bloomberg analysts expect spot Ethereum ETFs to launch by mid-July Bloomberg ETF analyst James Seyffart said he and his colleagues believe spot Ethereum ETFs could launch around July 15 as the application process settles. Seyffart posted the prediction on social media on July 3 but said he has “low confidence in those launch date predictions at this point.” The prediction is related to Bitwise’s amendment to its spot Ethereum ETF application on July 3. Seyffart noted that the only significant change was adding a six-month fee waiver for the first $500 million in assets. Source https://t.me/Blockchain_Explained

💰 German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining bitcoin off-market from the German government to minimize any price impact on the cryptocurrency. Source https://t.me/Blockchain_Explained

🏦 Coinbase demands Gensler’s private emails in SEC battle over crypto rules Coinbase has criticized the US Securities and Exchange Commission’s (SEC) effort to block “reasonable discovery” from Chair Gary Gensler in their ongoing legal battle. Last month, the exchange requested the SEC Chairman to produce certain communications, including emails, reflecting his views on digital assets from 2017 to the present. The SEC challenged this move, citing concerns over burden and privacy intrusion. The regulator argued that any subpoena should target the commission as an institution, not Gensler personally. Source https://t.me/Blockchain_Explained

💰 CryptoQuant says 'extremely underpaid' bitcoin miners' capitulation is a possible bottom signal Since Bitcoin's latest halving event on April 19, which cut the reward for mining a new bitcoin block in half, the world's largest cryptocurrency has begun showing signs of miner capitulation as miners likely turn off underperforming machines and begin to sell bitcoin to hedge their exposure. There are various signs of miner capitulation, which historically has indicated a bottom in prices, according to CryptoQuant, which notes that for most of the period since April, miners have been "extremely underpaid" according to the data provider's metrics. Source https://t.me/Blockchain_Explained

💰 Bitcoin long liquidation dominance hits 70% in June amid 2024 market volatility Bitcoin’s long liquidation dominance across all exchanges has fluctuated significantly in 2024, reflecting volatility in market sentiment. The seven-day moving average data reveals periods of increased long liquidations, especially in April and June. Notably, these spikes in liquidation dominance coincide with significant price movements. In March, the dominance of long liquidations surged above 60%, correlating with a notable decline in Bitcoin’s price from approximately $70,000 to $60,000. Source https://t.me/Blockchain_Explained

💰 Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping Operations The National Power Administration of Paraguay (ANDE) has surprised cryptocurrency mining operators by raising power fees by 14%, affecting the profitability of these activities. The rise have already caused the exit of a company that planned to invest over $400 million in the country due to the lack of clarity in the area. Source https://t.me/Blockchain_Explained

🔵 Circle says non-compliant stablecoins will 'vanish' from the EU in the short to mid-term As the EU’s Markets in Crypto Assets (MiCA) regulation gets underway, Circle’s EU Strategy and Policy Director Patrick Hansen and Chief Strategy Officer Dante Disparte expect a “transformative” year ahead for the European crypto market. With key implementation dates of June 30 for stablecoins and Dec. 30 for crypto asset service providers, “MiCA could be to crypto assets, what GDPR was to privacy,” they wrote in a blog post. Source https://t.me/Blockchain_Explained

📊 Crypto Spot ETFs Will Have More Influence on Market's Price Action: Canaccord The approval of bitcoin (BTC) and ether (ETH) spot exchange-traded funds (ETFs) is encouraging and while digital assets underperformed traditional assets in the second quarter, potential ETF inflows could reverse the recent trend, broker Canaccord Genuity said in a quarterly report on Sunday. Spot ETFs are expected to become a more meaningful part of crypto’s price action, analysts led by Michael Graham wrote. Source https://t.me/Blockchain_Explained

💰 Bitcoin set for ‘bullish July’ after June slump, analysts predict Several market analysts expect Bitcoin to rebound strongly in July after declining by around 7% in June. Last month, BTC faced heavy selling pressure from capitulating Bitcoin miners, who offloaded around $2 billion worth of their holdings due to falling revenue. The consistent selling activities of governments, including those of the United States and Germany, created additional selling pressure. Source https://t.me/Blockchain_Explained