Random Bitcoin fact: Bitcoin is a deflationary asset.
It's total supply is capped at 21 million coins, making it deflationary as the supply cannot be inflated beyond the predetermined limit. This scarcity implies that over time, the value of Bitcoin is expected to increase due to limited supply and growing demand, making it a store of value similar to gold.
However, this nature also incentivizes users to hold on to their coins rather than spend them, potentially impacting economic activity.
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It's total supply is capped at 21 million coins, making it deflationary as the supply cannot be inflated beyond the predetermined limit. This scarcity implies that over time, the value of Bitcoin is expected to increase due to limited supply and growing demand, making it a store of value similar to gold.
However, this nature also incentivizes users to hold on to their coins rather than spend them, potentially impacting economic activity.
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The trading volume was largely boosted by new TradFi institutions, along with the launch of the first spot Ether ETFs.
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⚡️MtGox has already paid compensation in BTC and BTH to 17,000 creditors, more than 70% of the previously reported 24,000.
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The number of new addresses on the Ethereum network has fallen to a December 2023 low
Over the weekend, the seven-day moving average (7DMA) measure of the number of new addresses on the Ethereum network set a new low of December 2023 at 81,914, according to Glassnode.
A similar trend can be seen in the average number of active addresses. On Aug. 2, the index set a new low of January 2024.
In addition, the average daily number of transactions on the network has been falling since the end of July 2024.
Over the weekend, the seven-day moving average (7DMA) measure of the number of new addresses on the Ethereum network set a new low of December 2023 at 81,914, according to Glassnode.
A similar trend can be seen in the average number of active addresses. On Aug. 2, the index set a new low of January 2024.
In addition, the average daily number of transactions on the network has been falling since the end of July 2024.
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Lightning Network: Turbocharging Bitcoin Transactions
The Lightning Network is revolutionizing Bitcoin's scalability, enabling fast and low-cost transactions. By creating off-chain payment channels, users can conduct multiple transactions without overloading the main blockchain. This allows for instant transactions with minimal fees, ideal for microtransactions.
Imagine buying a coffee with Bitcoin without worrying about high fees or long confirmation times. The Lightning Network makes this possible. For instance, if you buy a $2 coffee every day for a week, normally you'd have seven separate transactions with significant fees. With the Lightning Network, you can open a payment channel with the coffee shop, conduct all seven transactions off-chain, and settle the total amount ($14) on the main blockchain in one transaction, with minimal fees.
Its scalability and efficiency mark it as a crucial innovation for the future of cryptocurrency adoption.
The Lightning Network is revolutionizing Bitcoin's scalability, enabling fast and low-cost transactions. By creating off-chain payment channels, users can conduct multiple transactions without overloading the main blockchain. This allows for instant transactions with minimal fees, ideal for microtransactions.
Imagine buying a coffee with Bitcoin without worrying about high fees or long confirmation times. The Lightning Network makes this possible. For instance, if you buy a $2 coffee every day for a week, normally you'd have seven separate transactions with significant fees. With the Lightning Network, you can open a payment channel with the coffee shop, conduct all seven transactions off-chain, and settle the total amount ($14) on the main blockchain in one transaction, with minimal fees.
Its scalability and efficiency mark it as a crucial innovation for the future of cryptocurrency adoption.
🐹 While hamsters were draining, whales were buying back the market drawdown
IntoTheBlock: whales, whose balance is from 1000 to 10 thousand BTC, kept calm during the bitcoin slump and actively bought back BTC.
At the same time, hamsters with less than one BTC on their balance significantly sold out their bitcoins yesterday.
IntoTheBlock: whales, whose balance is from 1000 to 10 thousand BTC, kept calm during the bitcoin slump and actively bought back BTC.
At the same time, hamsters with less than one BTC on their balance significantly sold out their bitcoins yesterday.
💎 NEW: Binance will list Toncoin ($TON) and open trading for the following spot trading pairs at 2024-08-08 10:00 (UTC).
New Spot Trading Pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
Is this BULLISH for $TON?
👍 - YES
👎 - NO
New Spot Trading Pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
Is this BULLISH for $TON?
👍 - YES
👎 - NO
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🤓Arthur Hayes: BTC will survive under any president
🪙 Arthur Hayes said that it doesn’t matter to BTC who will become the next US president — Harris or Trump. In his opinion, any successor to Biden will be forced to “print money”, the difference will only be in the nuances.
Main points:
✔️Hayes believes that creating a Bitcoin reserve is unrealistic even if Trump wins — the administration will rather buy precious metals.
✔️He is confident that the cryptocurrency will grow despite the winding path: “In the end, we know where it’s going.”
🪙 Arthur Hayes said that it doesn’t matter to BTC who will become the next US president — Harris or Trump. In his opinion, any successor to Biden will be forced to “print money”, the difference will only be in the nuances.
Main points:
✔️Hayes believes that creating a Bitcoin reserve is unrealistic even if Trump wins — the administration will rather buy precious metals.
✔️He is confident that the cryptocurrency will grow despite the winding path: “In the end, we know where it’s going.”
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Tether plans to double its workforce to 200 by mid-2025, focusing on expanding its compliance team.
Despite its small size, Tether remains a financial powerhouse, generating $5.2 billion in profits in the first half of 2024.
The company continues to enhance monitoring tools to prevent illicit activity involving its USDT stablecoin, which now commands nearly 70% of the stablecoin market with a $115 billion supply.
Despite its small size, Tether remains a financial powerhouse, generating $5.2 billion in profits in the first half of 2024.
The company continues to enhance monitoring tools to prevent illicit activity involving its USDT stablecoin, which now commands nearly 70% of the stablecoin market with a $115 billion supply.
Understanding Real World Assets (RWAs)
Real World Assets (RWAs) are crypto tokens representing tangible assets like bonds, real estate, commodities, and machinery. These tokens bridge traditional financial assets and the Decentralized Finance (DeFi) ecosystem, enhancing accessibility and liquidity.
The Concept of RWAs
RWAs signify tangible assets with substantial and universally recognized value, making them viable for global financial transactions and investments. These assets, expected to generate future economic benefits, are now being tokenized, allowing secure and easy transactions on digital platforms.
Benefits of RWAs
Integrating RWAs into blockchain technology addresses several issues inherent in traditional asset investments:
- Lower Entry Barriers: Fractional ownership of tokenized assets like real estate and bonds reduces the initial capital required, making these investments accessible to a broader audience.
Real World Assets (RWAs) are crypto tokens representing tangible assets like bonds, real estate, commodities, and machinery. These tokens bridge traditional financial assets and the Decentralized Finance (DeFi) ecosystem, enhancing accessibility and liquidity.
The Concept of RWAs
RWAs signify tangible assets with substantial and universally recognized value, making them viable for global financial transactions and investments. These assets, expected to generate future economic benefits, are now being tokenized, allowing secure and easy transactions on digital platforms.
Benefits of RWAs
Integrating RWAs into blockchain technology addresses several issues inherent in traditional asset investments:
- Lower Entry Barriers: Fractional ownership of tokenized assets like real estate and bonds reduces the initial capital required, making these investments accessible to a broader audience.
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💰 Bitcoin sell off is a "bear trap" and there is "a lot of institutional and retail interest" in #Bitcoin ETFs - Yahoo Finance
The capitalization of the largest stablecoin Tether (USDT) has almost reached $115 billion
•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.
•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.
•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.
•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.
Flash Minting: The Future of DeFi Token Creation
In the fast-paced world of decentralized finance (DeFi), flash minting is a revolutionary smart contract functionality that redefines how tokens are created and used.
Unlike traditional minting, flash minting allows for the creation of tokens without the need for collateral. These tokens are generated temporarily to facilitate specific purposes and are designed to self-destruct at the end of the transaction.
The importance of flash minting lies in its ability to:
- Enhanced DeFi Capabilities
- Complex Financial Transactions
- Arbitrage Opportunities
The key feature of flash minting is the temporary existence of the minted tokens. These tokens must be used within the transaction they were created for and are destroyed immediately after, ensuring no lasting impact on the overall token supply.
While flash minting offers immense potential, it also carries risks and complexities.
In the fast-paced world of decentralized finance (DeFi), flash minting is a revolutionary smart contract functionality that redefines how tokens are created and used.
Unlike traditional minting, flash minting allows for the creation of tokens without the need for collateral. These tokens are generated temporarily to facilitate specific purposes and are designed to self-destruct at the end of the transaction.
The importance of flash minting lies in its ability to:
- Enhanced DeFi Capabilities
- Complex Financial Transactions
- Arbitrage Opportunities
The key feature of flash minting is the temporary existence of the minted tokens. These tokens must be used within the transaction they were created for and are destroyed immediately after, ensuring no lasting impact on the overall token supply.
While flash minting offers immense potential, it also carries risks and complexities.
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