BNB Chain's Weekly Report Shows Healthy Network Activity Despite Struggle to Break Out of Low Range
BNB Chain's latest weekly report showed strong network activity, but the BNB cryptocurrency struggled to break out of a low range. The report revealed that the network had 4.32 million active weekly users and 22.94 million transactions during the week, with a low average transaction cost of $0.94. BNB Chain is also adding five new dApps to its network to attract more users. While some data suggests accumulation and bullish sentiment among traders, caution is still advised due to potential market crashes.
Bitcoin's Fourth Halving: How Miners Will Adapt to Diminishing Rewards
The Bitcoin community is eagerly anticipating the upcoming fourth reward halving event, which will see the block subsidy drop from 6.25 to 3.125 BTC. This has sparked speculation on how miners will adapt to the diminishing returns, as the reward will continue to decrease over the next two decades.
a16z Deposited 1,380 MKR to Coinbase Again
a16z deposited 1,380 $MKR ($1.52M) to #Coinbase again via address "0x1279" 15 mins ago.Address"0x1279" currently holds 5,520 $MKR ($6M).
Litecoin Halving Event Sparks Market Rally Speculation
The upcoming Litecoin (LTC) halving event on August 2 has generated significant hype in the community and is expected to lead the market rally in the coming week. Many industry stakeholders have been accumulating Litecoin in anticipation of the event, with whales buying over 590,000 LTC in the last 48 hours. The halving will impact Litecoin's scarcity and could potentially drive its price to new highs. Its success could also provide insights into Bitcoin's future performance, as Bitcoin's halving event is scheduled for next year.
Fantom's DeFi TVL Drops 67% Due to Multichain Bridge Hack and User Exodus
Fantom's DeFi protocols lost $126 million worth of cryptocurrency due to the Multichain bridge hack, leading to a 67% drop in total value of assets locked (TVL). As a result, users have withdrawn their funds from the protocols, causing the TVL to decrease to $81.84 million. This has affected FTM's market, with momentum indicators decreasing and traders selling FTM coins to hedge against further losses. However, FTM's funding rates on exchanges remain positive, indicating a relatively high demand for long positions compared to short positions. Separately, the text mentions the addition of three adpushup triggers for three ads on a website for proper execution.
Investors Turn to InQubeta (QUBE) as Polkadot (DOT) Loses Momentum
InQubeta (QUBE) is a popular cryptocurrency for those interested in AI's future potential. It aims to solve <a>funding challenges</a> faced by <a>AI startups</a> by introducing a crowdfunding platform that leverages <a>crypto liquidity</a>. The <a>NFT marketplace</a> allows AI entrepreneurs to raise startup funds and investors to invest fractionally in early-stage AI companies. The limited supply of 1.5 billion tokens is expected to appreciate in value, making it an attractive investment. InQubeta combines blockchain and AI technologies and is a potential alternative investment with greater growth potential than Polkadot. To learn more, visit their presale and join their communities.
Bitcoin Bounces at Support, Will Fed Meeting Break Its Slumber?
Bitcoin, the world's largest cryptocurrency by market capitalization, has rebounded from support at $29,500 and is currently trading just above $30,000. The cryptocurrency has been testing key short-term support levels in the mid-$29,000s multiple times this week, with the bulls holding firm for now. Bitcoin has been rangebound between $29,500 and $30,500 for almost a week, with a lack of notable US macro events and updates on US crypto regulation/institutional adoption. The upcoming US Federal Reserve meeting next week, where interest rates are expected to be lifted, could trigger some breakouts in the bitcoin market.
Uphold CEO Predicts Significant Institutional Interest in Ripple's XRP Following Legal Victory
Uphold, a digital payment platform, is placing a large bet on Ripple's XRP, with CEO JP Thieriot predicting significant institutional interest in the cryptocurrency. Thieriot emphasized the importance of recent developments, particularly the resolution of Ripple's legal battle with the SEC, which declared XRP as not a security. Uphold sees this as an opportunity to expand its services and cater to the growing demand for digital assets. The potential for institutional involvement is also increasing following the Ripple lawsuit verdict, with traditional financial institutions in Europe and the UK showing interest in offering digital assets.
Account Abstraction and ERC-4337 in the Spotlight After Paris Conference
The recent Ethereum Community Conference in Paris has sparked discussions about the new Ethereum upgrade, ERC-4337, which enables account abstraction. This feature simplifies the use and ownership of wallets, allowing users to log in with their email, Google account, or phone number. The goal of this upgrade is to make the cryptocurrency experience more user-friendly and to abstract away the complexities of crypto wallets. The industry is currently in a race to create successful and seamless user experiences, with the next phase of innovation predicted to involve paying for gas with tokens.
New Meme Token "HarryPotterObamaSonic10Inu" with Ticker Symbol "BITCOIN" Surges in Value
The cryptocurrency known as "BITCOIN" has seen a surge of over 300% in value in the past week, but it is not the well-known Bitcoin that is responsible for this increase. Instead, "BITCOIN" is actually a new meme token called HarryPotterObamaSonic10Inu (ERC-20), which is generating over $14 million in daily volume on UniswapV2 on Ethereum. The token's value has risen from $0.015 on July 13 to a high of $0.09 on July 20, and currently trades at $0.067 with an estimated market cap of $66 million. This spinoff coin is not uncommon and has seen some success in the past, such as Shiba Inu (SHIB) which briefly overtook Dogecoin's market cap.
