Tron becomes a key infrastructure for USDT

After the launch of USDT on Tron, this blockchain is confidently catching up with ETH.

According to CryptoQuant, TRX’s share in the total issuance of USDT has reached 53.47%, and Tron’s share in USDT transactions is approaching 93%.

Analysts note that due to low fees, most Tether transactions take place on the Tron platform.

Interestingly, up to 70% of retail USDT transactions—amounts up to $1,000—are conducted on Tron.

Analysts believe that in the future, Tron will become the leading platform for the Tether stablecoin.

This blockchain plays a crucial role in forming the global infrastructure for transferring dollar tokens.

The first USDT appeared on this network in 2019, but the mass migration of USDT addresses to Tron occurred during the pandemic.

Bitcoin will react positively to Trump’s victory

Analysts from Bernstein believe that as Trump’s chances of winning the election increase, Bitcoin will respond positively and gradually strengthen its position.

An attempt on Trump’s life triggered a significant influx of investments into cryptocurrency. Trump’s statement on the need to develop the cryptocurrency market contributed to the growth of mining company stocks.

The net inflow of capital into Bitcoin ETFs exceeded $2 billion over two weeks. Since the beginning of the year, this figure has reached over $17 billion.

Currently, the total amount of funds under the management of crypto funds has reached $60 billion.

Bernstein suggests that the crypto-effect of “Trumpism” will strengthen, provided that Trump’s position remains strong.

Riot Platforms’ acquisition of Block Mining makes strategic sense

According to JPMorgan, the acquisition will make Riot the second largest Bitcoin mining capacity among registered U.S. miners. Additionally, it will assess underdeveloped energy assets, as noted in the report.

The acquisition of Bitcoin miner Block Mining by Riot Platform (RIOT) is logical, as it diversifies the company’s energy supply and increases its capacity to more than 2 gigawatts (GW), according to a research report by JPMorgan (JPM) published on Wednesday.

Following the acquisition, Riot will become the second largest Bitcoin mining capacity in the U.S., while also assessing “unused energy assets,” analysts Reginald Smith and Charles Pierce note.

However, this statement is surprising due to the potential expansion of Riot’s office in Corsicana, Texas, highlighted in the report.

The acquisition of Block Mining is not the only recent merger and acquisition attempt by the company. Riot recently withdrew an offer…

Runes in the Bitcoin Network and Differences from BRC-20

What are Runes?
The total market capitalization of these tokens has exceeded $2 billion, providing miners with multimillion-dollar revenues in addition to block rewards and fees for traditional payments.

However, shortly after their appearance, new assets faced criticism from “Bitcoin purists” like developer Luke Dashjr, who suggested “banning” BRC-20 and “inscriptions” using a “spam filter.”

In September 2023, Casey Rodarmor, the creator of Ordinals, introduced a new standard for fungible tokens called Runes. According to the developer, this format minimizes “junk” in the Bitcoin network compared to BRC-20.

“Protocols based on UTXO organically fit into the Bitcoin blockchain, minimizing…

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Stimulating New Demand for ETH from ETFs

After a lengthy approval process, spot ETFs on Ethereum have finally started trading on traditional stock exchanges.

Crypto investors have anticipated this event for several years, hoping that ETFs would lead to a significant influx of liquidity into ETH and an increase in its value.

However, will this actually happen? Let’s compare the situation with BTC:

The recently launched spot BTC ETFs at the beginning of the year became some of the most popular financial products, drawing $18.6 billion in outflows from Grayscale’s GBTC and accumulating an additional $17 billion.

For example, BlackRock’s IBIT Bitcoin fund ranked 4th among all ETFs in terms of inflows since the beginning of the year.

Although Bitcoin ETFs attracted significant sums, expectations were not fully met:

- Institutional investors, such as pension funds, did not show much interest.
- The primary buyers were investment advisors and hedge funds, not new major players.
- Despite…

Controversial Bill in the USA

The U.S. House of Representatives has approved the “Financial Technology Protection Act” from April 2023. The law aims to develop measures to prevent the use of digital assets for illegal purposes, such as financing terrorism.

Jaret Seiberg, an analyst at TD Cowen, described the bill as a “political action.” In his opinion, the authors of the document are trying to appease both opponents and supporters of the cryptocurrency industry.

Meta and the New AI Model

On July 23, 2024, Meta announced its new AI model, named Llama 3.1. According to CEO Mark Zuckerberg, this model is designed to compete with similar products from OpenAI and Google.

The development of Llama 3.1 took several months and cost hundreds of millions of dollars in computational resources.

It is known that Llama 3.1 is used to create chatbots both within Meta and by external developers. The new model also includes generative AI capabilities, allowing it to create images based on text prompts.

#BTC Update 📉

🔄 Correction in Play: As we pointed out last time, the correction option is now in play. We lost local support at $66,300, but the weekly candle hasn't closed yet.

🔑 Key Support Level: The main support is now $62,300. Holding this level until the next weekly pivot on August 5th is crucial.

📅 Strategy: For now, wait for the situation to unfold. Monitor the support level and the weekly pivot in August before entering a position.

Stay patient and stay tuned for updates!

https://www.tradingview.com/x/EanNL6aC/

Sigma Crypto Chad

Benefits of Ethereum ETF for Traditional Investors

Yesterday, we discussed the potential impact of ETFs on the price of Ether. Today, we’ll focus on their significance for institutional investors.

ETFs offer unique opportunities, especially for traditional companies and funds, by significantly simplifying investments in ETH.

Let’s look back at last year. How difficult was it for companies to invest in cryptocurrency?

There were numerous scandals around staking and doubts about whether it was considered a security. Regulation was, to say the least, inadequate.

With the introduction of ETFs, institutional investors can invest in ETH with just a few clicks, without worrying about regulatory issues and managing private keys.

Three key benefits of Ethereum ETFs for traditional investors:

- Low fees. No one wants to lose money on every transaction.
- Recognized names. Attracting investors requires a combination of reliable brands like BlackRock, VanEck, and Grayscale, along with…