Apart from some very "strange" coins like BCH and FTT, nothing else shows much growth, and it is alarming. Maybe the trend is exhausted? Hopefully not 🥲

Crypto exchange OKX suspends services for users living in Japan, a message in the app says “OKX Exchange products cannot be used in Japan due to local laws and regulations.”

The United States House of Representatives recently adopted new rules banning all members from using all chatbots except ChatGPT Plus 😑

Indonesia’s regulatory agency made public a comprehensive catalog of 501 crypto assets that are now classified as commodities within the country 😯

🔹 Last 24 hours top 3 gainers:

FLEX Coin - $4.03 (↑14.48%)
Bitcoin Cash - $221.82 (↑14.25%)
Radix - $0.084 (↑9.17%)

#GM

Over the past few months, the eight largest financial institutions in the US alone have shown interest in crypto 🐳

If you combine all of their assets under management, you get a stunning number of $27.3 trillion 😮

Fidelity is preparing to submit a spot bitcoin ETF filing 😮

The rumor turned out to be true. Following BlackRock and others, asset management giant Fidelity ($4.24 trillion in AUM) is close to submitting its own filing for a spot bitcoin exchange-traded fund 💰

When will the BlackRock ETF be approved 🕐

👆 The picture above is a graphical representation with deadline dates for the response from the SEC regarding the approval of the first spot fund ETF for BTC.

Deadlines for the SEC to approve, decline, or delay the decision:

◾️ First — August 12, 2023

◾️ Second — September 26, 2023

◾️ Third — December 25, 2023

◼️ SEC Final Judgment: February 24, 2024

🤔 What is an ETF?

• An ETF is an Exchange-Traded Fund. It is a type of investment fund that is traded on stock exchanges, just like individual stocks.

• It is designed to track the performance of a specific group of assets, such as stocks, bonds, or commodities. Some are passively managed, while others are actively managed.

• In our case, a spot Bitcoin ETF would be an investment fund that tracks the price of Bitcoin, allowing investors to gain exposure to Bitcoin's price movements without directly owning the cryptocurrency.

🦊 MetaMask Guide and Airdrop

MetaMask is a crypto wallet that is available as a browser extension and mobile application. It allows you to store your crypto and interact with decentralized applications.

📄 Guide to Metamask:

First, we need to install the wallet. If you are using a desktop, go to the download page and install the MetaMask browser extension. If you are using a phone, download the MetaMask app for Android or IOS.

Now that you have the extension or app, you need to create your wallet. Go to MetaMask and click on "Create a new wallet. Set up a strong password. Click on "Secure my wallet" and follow the procedure of a Secret Recovery Phrase creation.

⚠️ Secret Recovery Phrase (seed phrase) needs to be kept secret from anyone. If you lose those 12 secret words — you will lose access to your wallet and all the funds in it.

If someone else gets access to your seed phrase — they can get access to your funds and steal them. It's better to create a few copies of the seed phrase and keep them in a safe place (definitely not online) ⚠️

After you finish setting everything up, you now own an uncensorable and unblockable wallet with which you can do anything you want. You can interact with decentralized finance applications and store crypto. You have access to such blockchains as Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, and many others.

🪂 MetaMask Airdrop:

Metamask is the most popular wallet in crypto; it has millions of users but still doesn't have a token, even though there have been multiple hints that a token will be launched eventually. For this product, even if a small % of the total supply is distributed by #airdrop, it will be massive.

In order to increase our chances of getting a potential airdrop, we will interact with existing MetaMask tools:

👉 Go to the MetaMask portfolio.

Here we have three ways to interact with wallet tools: swaps, bridges, and ETH staking.

❗️It is worth knowing that token swaps and bridges between blockchains inside MetaMask are pretty disadvantageous compared to other alternatives, they charge a 0.875% fee per swap and bridge.

So the next time you need to swap tokens or bridge them, think about if you want to pay an additional fee and use MetaMask to increase your chances of receiving a potential airdrop.

📌 Don't forget to save this list of activities for later

#earn

✅ Even with the help of today's positive news, BTC could not get above the 31k mark and continues to trade in the 30-31k range 🤞

Day summary:

🔸 Asset management giant Fidelity is preparing to submit a spot Bitcoin ETF filing

🔸 The United States House of Representatives banned all members from using AU chatbots, except for ChatGPT Plus 🤖

🔸 Indonesia labels 501 cryptocurrencies as commodities

🔸 Turns out ARK Investment Management, 21Shares, and the Chicago Board Options Exchange filed the spot Bitcoin ETF application back in April 🤔

🔸 Crypto exchange OKX suspends its services in Japan

🔸 BlackRock Bitcoin ETF could be approved as soon as August 12, the maximum delay is until Feb 24, 2024

🔸 Bitcoin miners in Texas curbed operations, crimping power usage, as extreme heat drove electricity prices sky-high ♨️

🔹 Prices:

🌐 Bitcoin - $30,673 (↑1.80%)
⚙️ Ethereum - $1,895 (↑2.72%)
📈 S&P 500 - 4,383 (↑1.27%)
💲 DXY - 102.48 (↓0.21%)
🌕 Gold - 1,924 (↓0.48%)

Bulls strike back 🤣

Bears are pushing us closer and closer to the support level, which bulls should withstand, and they better show a good bounce or things can get ugly really fast 🐻

🥳 Today is Elon Musk's 52nd birthday. Maybe he will pump some coins in celebration?

TrueUSD (TUSD) stablecoin depeged by 10% on Binance US after the token's reserve report showed the project held $26,000 in assets backing the stablecoin at a U.S. depository institution that was ordered to halt withdrawals.

EU officials suspect Binance is faking accounts in Ireland and Malta, indicating that the crypto exchange is obfuscating illicit activity such as money laundering and tax evasion 😵

🔹 Last 24 hours top 3 gainers:

Stellar - $0.103 (↑9.64%)
Kaspa - $0.026 (↑6.61%)
VeChain - $0.019 (↑4.79%)

#GM

Venture investments in metaverse projects are meager 📉

Here is a visual demonstration of how much the narrative in the venture capital world has changed from the metaverse to AI in the last year 🤖

Last year, we had $7.67 billion in investments in the metaverse. Facebook even changed the company name to Meta, and this year in the first half, we have only $707 million invested 🙄

🎵 Global entertainment company Warner Music Group partners with Polygon to launch a music accelerator program

The program aims to onboard the next generation of blockchain music projects and decentralized applications on the Polygon network.

Each month, Polygon announces big partnerships, but it seems like it doesn't really help MATIC token withhold selling pressure 🤷‍♀️

Upcoming token unlocks in the next month 🔓

Remember this post? Notice the proportion between max supply (blue + gray) and circulating supply (gray).

Now try to analyze which of these coins, in the long run, are likely to increase their market capitalization while remaining at the same level of token price, so retail investors are not scared 🔍

#unlocks

$7.8 billion was paid to crypto pyramid schemes in 2022 😓

Remember this today's post? In 2022, $7.68 billion was invested in metaverse projects. The report published by blockchain intelligence firm TRM Labs says that in the same year, a stunning $7.8 billion was paid to crypto pyramid schemes. More money was sent to scams than invested in the most hyped technology.

👮 Two of the largest crypto Ponzi schemes prosecuted in 2022, were Forsage and Trade Coin Club. In total, in 2022 $9.04 billion in crypto was sent to all types of financial fraud schemes.

Despite the bear market, it appears that there has been no corresponding slowdown in crypto-related crime. People are simply hungry for easy profits, and that's what the scammers are taking advantage of ☹️

✅ Bulls survived another day above 30k, but most alts are red. I would especially recommend paying attention to BNB as it approaches the critical price level of $219 👀

Day summary:

🔸 Failed crypto exchange FTX is in initial discussions with investors about relaunching its international exchange 😲

🔸 TrueUSD stablecoin depegged by 10% on Binance US

🔸 EU officials suspect Binance is faking accounts in Ireland and Malta

🔸 The federal judge denies the motion to dismiss most charges against Sam Bankman-Fried 🔨

🔸 Warner Music Group partners with Polygon to launch a music accelerator program

🔸 Report by TRM Labs says that $7.8 billion was paid to crypto pyramid schemes last year

🔸 MicroStrategy acquires an additional 12,333 bitcoins and now holds 152,333 BTC 👏

🔹 Prices:

🌐 Bitcoin - $30,022 (↓2.13%)
⚙️ Ethereum - $1,829 (↓3.51%)
📈 S&P 500 - 4,369 (↓0.20%)
💲 DXY - 102.9 (↑0.43%)
🌕 Gold - 1,918 (↓0.27%)

The plan is set 😄

FTT shows growth after news about plans to relaunch the FTX exchange 🚀

👴 Joe Biden said: "We’re going to make it fair by eliminating loopholes for crypto traders, hedge fund managers." So much hate towards crypto from democrats recently...

Binance crypto custody license application denied by German regulator BaFin ❌

💶 Binance banking partner for EUR transfers will halt support of the crypto exchange. Paysafe will no longer be providing these services to Binance users from 25th September 2023.

It's almost like not a single day goes by without Binance getting into some kind of trouble

🔹 Last 24 hours top 3 gainers:

Synthetix Network - $2.2 (↑8.56%)
Solana - $17.13 (↑5.92%)
Stacks - $0.71 (↑5.15%)

#GM

MicroStrategy buys —> we dump❓

Among participants in the crypto market, it's common to joke about the curse of Michael Saylor buying and the market going down right after. But do these jokes have something in common with factual data? 🤔

Well, yes, kind of...

Past data shows that since 2020, on average, bitcoin has dropped by 2% on the day MicroStrategy announces new purchases 🥴

So far, BTC hasn't dropped much, but we must be watchful because the average one week price performance after purchase announcements is even grimmer 👀

On-chain liquidations tutorial 🩸

On-chain liquidation happens when lenders who borrow assets are forced to sell their collateral because the value of the borrowed asset became too high compared to the value of the collateral.

📋 A quick guide on how to check key on-chain liquidation levels with the help of Defilama:

◾️ First, we go to the liquidations page on the Defilama website.

◾️ Then we choose the needed asset and, if needed, a specific protocol.

💁‍♀️ Example on the screenshot above:

▪️ As you can see, all potential liquidations for BNB are concentrated in just one lending protocol, Venus.

▪️ The price of the liquidations is also highly concentrated at $219. There are 930,000 BNB tokens that will be liquidated if the BNB market price hits the $219 mark (around $205 million).

▪️ If the price hits $219, Venus will auction off liquidated assets at less than their value, allowing third parties to “bid” on the assets for a quick sale. This race to the bottom will negatively impact the value of BNB.

🔵 Coinbase tries to protect altcoins from the SEC

Coinbase has filed a motion to dismiss the recent lawsuit brought against it by the US SEC.

Coinbase argues that the digital assets in question, including SOL, ADA, MATIC, and others, are not securities and, therefore, do not require SEC registration ❌

Unlike other trading platforms that simply delist the altcoins in question, Coinbase is trying to not only protect itself from the SEC but also protect random crypto from being named securities, good for them 👍

✅ We are still trading around 30–31k; something significant needs to happen for us to move from this point, but for now, relax, the summer market is boring 🥱

Day summary:

🔸 Joe Biden promised to eliminate "loopholes" for crypto traders 🤨

🔸 Now it's official: Fidelity filed for a spot Bitcoin ETF!

🔸 Binance crypto custody license application was denied by the German financial regulator

🔸 Binance banking partner for EUR transfers will halt support of the exchange in September 💶

🔸 Coinbase has filed a motion to dismiss the recent lawsuit brought against it by the US SEC

🔸 Ledger launches a custodial trading network for institutions

🔸 Ubisoft announces their first blockchain game, "Grimoria Chronicles" 🎮

🔹 Prices:

🌐 Bitcoin - $30,632 (↑1.73%)
⚙️ Ethereum - $1,859 (↑1.48%)
📈 S&P 500 - 4,396 (↑0.45%)
💲 DXY - 103.33 (↑0.42%)
🌕 Gold - 1,915 (↓0.33%)

How it's going so far for Bitcoin 😄

Long sideways movements have proven to be the hardest test for most traders 🥲

Today we have a strange altcoin rally. Literally, only the oldest and most forgotten "dinosaur coins" suddenly went up big 🦖

Another round of NFTs from the Trump family. Melania Trump (wife) has launched a set of NFTs inspired by the upcoming Independence Day holiday 🇺🇸

South Korean parliament approved its first digital-asset bill to boost investor protection. The legislation gives the Financial Services Commission the power to oversee crypto operators as well as asset custodians.

CME Group announced its plans to launch Ethereum/Bitcoin price ratio futures on July 31 😯

🔹 Last 24 hours top 3 gainers:

eCash - $0.0000357 (↑42.58%)
Bitcoin Cash - $307.99 (↑34.76%)
Compound - $58.6 (↑27.87%)

#GM