US Presidential candidate Patrick Riley has predicted that XRP will surpass Bitcoin as the top cryptocurrency, causing mixed reactions. Riley tweeted that with XRP trading at just $11, it would eventually overtake Bitcoin in market dominance.

Tesla's Q2 FY23 earnings report has shown impressive results despite the current state of the economy. The company achieved record production and delivery numbers, as well as generating the highest revenue of any quarter to date, with $24.9 billion.

Tesla's digital asset holdings remained at $184 million on its balance sheet in the second quarter, despite the rise in bitcoin's price during the same period. This is due to accounting rules that do not allow for unrealized gains on crypto to be recorded.

According to CMC's crypto market analysis report, the global cryptocurrency market capitalization will reach $1.17 trillion in the first half of 2023, an increase of 48%. While there was a lack of breakthroughs in the second quarter, areas such as VR/AR and artificial intelligence performed well. Memes and DeFi are the most-watched sectors, with Bitcoin remaining the most popular cryptocurrency. Decentralized public infrastructure networks, real asset transactions, liquid collateralized derivatives, zkSync, and modular blockchains are also hot topics. In addition, there have been some developments in the FTX collapse, and the approval of the Bitcoin ETF is expected to trigger increased demand from institutional investors.

Crypto analyst Benjamin Cowen warns that Bitcoin and other cryptocurrencies are at risk of a significant downward correction, as they are following the same bear market patterns as in 2015 and 2019. Cowen shared a chart showing Bitcoin's year-to-date ROI overlaid with the average of the same metric for 2015 and 2019, and suggests that if history repeats itself, Bitcoin could drop to $23,000 later this year. Cowen also warns that altcoins are in a similar bear market bounce as in previous cycles, and that Bitcoin dominance will eventually continue due to net liquidity going back down.

Recent data indicates that the Bitcoin hashrate has stopped increasing, suggesting that miners are hesitant to expand their facilities further. The hashrate measures the total computing power connected to the Bitcoin network and is an indicator of the blockchain's security.

Despite a rough second quarter for Bitcoin, stablecoins, NFTs, and exchanges, the crypto ecosystem saw some positive developments. CoinGecko reported on the top 10 centralized exchanges by spot trading volume, with Binance leading at 52%.

CoinMarketCap has released its Crypto Market Analysis report for H1 2023, describing Q2 as a "lost quarter" due to a lack of a strong market narrative. However, the report notes that Q1 showed positive developments such as Bitcoin doubling in price and the rise of layer-2 solutions. Q1 also showed a strong NFT market driven by product updates and the issuance of NFT marketplace Blur's token.

Crypto lender Celsius is facing a Chapter 11 bankruptcy with multiple parties making billions of dollars in claims. Bank of the Future estimates that Celsius could repay all USD claims if the prices of Bitcoin and Ether, the two assets the firm holds, double from their current prices.

Crypto analyst and trader Ali Martinez has identified a buy signal on the 12-hour Bitcoin chart, but also noted a bearish reversal DOJI candle forming. Martinez believes that Bitcoin must avoid closing below $29,800 to validate the bullish signal and potentially rise to $30,600 or $31,300.