🌎 TON integration in OKX Wallet and huge ETF inflows

🆗 OKX Wallet has added support for the TON blockchain. TON and jettons can now be exchanged and stored there. As it is one of the world's largest crypto wallets, this is a big and important development for TON.

🚀 Meanwhile, Bitcoin ETFs already raised more than $700 million this week, according to Farside Investors. This is due to the anticipation of a rate cut by the Fed and the possible election of Donald Trump as US President with, pro-crypto policies.

🇺🇸 Ethereum ETF officially approved by SEC⚡️⚡️

🔖 The SEC has allowed Grayscale and Proshares to list their Ethereum ETFs on NYSE Arca. Insiders predict that trading operations will start on 23rd of July.

⛏️ How to create your own mini-app in Telegram?

🐹 In this article, I’ve described mechanics of “tapping” mini-apps in Telegram: Hamster Kombat, Notcoin and similar projects. This is a new gold rush in crypto. Recommend you to discover.

🇺🇸 Biden out: is it good for crypto?

✖️ This weekend Biden has declared that he will cancel his nomination as the Democrats' presidential candidate. Some crypto enthusiasts think that Donald Trump will be the next President of the United States and make regulations favorable to virtual asset business - approve the crypto bill and maybe declare BTC as a national reserve asset during the crypto conference in Nashville on 27th of July.

🔝 Also, analysts predict Gary Gensler's resignation if Trump wins. Against this backdrop, inflows into Bitcoin ETFs totaled nearly $1.2 billion last week. Bitcoin's price rose from $63,000 to $68,000 in the same week.

🤔 However, Biden's withdrawal from the race leaves a chance for another Democratic candidate, such as Kamala Harris, to win. So far, Harris has not spoken out about cryptocurrencies in any way, but will likely act within the policies of the current administration and the SEC.

🚀 Ethereum ETF listing

📊 Today on July 23, 9 Ethereum ETFs started trading on the NYSE, CBOE and NASDAQ exchanges at once. The price of ETH rose to $3,500, but then went down - among fears about a possible Grayscale ETF trust sell-off.

💯 This is a great leap for Ethereum. 10 years have passed from Ethereum's ICO, launched by Buterin, and now the second cryptocurrency is recognised by US Stock Exchanges.

📈 Will Bitcoin enter a bull cycle again?

💡 Analysts at Capriole Investments believe it will. According to their Hash Ribbons indicator, Bitcoin is back in long-term growth territory - for the first time since mid-May.

🧮 Meanwhile, on the first day of trading on the Ethereum ETFs (yesterday), liquidity inflows totaled $107 million. And that's on top of $484 million in sales from the Grayscale ETF. That is, if there were no sales from the Grayscale trust, the total inflows into the asset would have been much larger - $591 million.

💎 No gas on TON soon?

🏃 The TON Core team has launched the W5 smart wallet standard. It will be soon available on Tonkeeper and MyTonWallet. This standard allows Notcoin and TON USDT transactions without the need to hold Toncoin: users can complete transactions in NOT or USDT and pay gas fees in those currencies.

🤓 Cryptocurrency market recovers amid Bitcoin Conference in Nashville

📊 Bitcoin price has again reached the important level of $67,000. Meanwhile, Bitcoin Conference - an important event that gathers the top crypto business leaders - started in Nashville. Microstrategy CEO Michael Saylor and James Seyfarth from Blackrock spoke about the benefits of crypto and their investments in it.

🥇 Also, the forum was visited by the third most polled candidate for the U.S. presidency - Robert Kennedy Jr. He has already stated that he is crypto investor and keeps most of his savings in bitcoin. Donald Trump is expected to speak tomorrow. As the leading candidate in the polls, Trump can influence the market with his statements such as promises to lower interest rates or recognition of bitcoin as a reserve asset.

🇺🇸 US presidential campaign adds volatility to the market

👮 In the coming months, the price of cryptocurrencies will be strongly influenced by the U.S. presidential election and regulation updates connected with it. Possible dems' candidate for the vice president Gary Peters is a well-known crypto skeptic.

🦅 Bitcoin Conference in Nashville and especially Donald Trump's speech with his promises to fire Gensler and not to sell government-owned bitcoin pushed the price of the first cryptocurrency to $70,000.

📉 However, the unexpected transfer of BTC worth $2 billion, which is owned by the U.S. government completely extinguished this wave and the price of BTC dropped to $66,000 - amid rumors about the possible sale of this reserve.

🇭🇰 HK’s largest broker added BTC and ETH

🏟 Futu Securities, a brokerage company with an audience of 22 million users, has made investments available in cryptocurrencies.

🚀 This looks really impressive in combination with regulation updates in the US and South Korea. Donald Trump and other Republicans promise to stop selling Bitcoin and possibly make it a reserve asset. The ruling party in South Korea is going to legalize crypto ETFs and cancel crypto taxation.

😎 Big businesses, investors, and a growing audience of cryptocurrency users are genuinely making crypto a mass phenomenon and the digital gold of the future. As early as 2025, some developed countries will probably add bitcoin to their reserves.

🇺🇸 Is Kamala Harris moving to support Bitcoin?

🗽Harris campaign headquarters will meet with representatives of the crypto industry on Monday. Given that a significant portion of Democrats in Congress previously supported a federal bill to regulate crypto and transfer significant authority from the SEC to the CFTC, we can expect Harris to support the bill and other initiatives.

⛑ For the Democratic candidate, this will have a double benefit: the opportunity to gain financial support from the crypto industry for her presidential campaign and to get crypto votes in swing states.

📊 Crypto market is falling together with the US stock market. Today $2,9 trillion wiped out from stocks due to the fear of global recession. Bitcoin below $63,000, ETH - $3,000.

Intel - 30%, Amazon - 11%.

⤵️ BTC below $61,000 - what's going on?

💵 We're probably dealing with a continued stock market fall amid recession fear. This is hitting crypto as well. For instance, Warren Buffett's company Berkshire Hathaway sold half of his investment in Apple stock this week.

⚠️ So I urge all crypto investors to be careful with their purchases and especially with leverage. Before monetary regulators such as the Fed react to the fall, the market can go down even further. For BTC this may be $50,000 resistance level.

⬇️ The crypto market falls by 17%. Bitcoin - $52,000, Ethereum - $2,300.

🙀 The fear of global recession continues to pull the crypto market down. Regulators are already reacting - the interest rate was raised by the central bank of Japan, but this did not prevent the Japanese stock index, the Nikkei from falling by a record 13%. The British FTSE fell by 2%. Similar falls were seen in previous global crises: COVID-19, the 2008 financial crisis, and the legendary 1987 Black Monday crash.

🤷 Given that we are dealing with a global financial crisis, crypto is still holding up very well. In short, until it is clear what will happen to the global economy (whether it will go into recession and, if so, to what extent), the crypto market will continue to grind along with the global stock market. That's likely the next 2-3 months.

❓ At the same time, there is a good chance that current price levels are a localized bottom or close to it. Thinking back, the crypto market's collapse at the beginning of COVID-19 was a great time to buy, before the bull run.

⤴️ The crypto market has rebounded slightly and is awaiting regulatory decisions

🔺 Bitcoin's price has rebounded from $50,000 to $56,000. Amid recession fears, there has been a small outflow of funds from Bitcoin ETFs - about $318 million in the first two days of this week according to Farside Investors. That's far less than it could have been given the scale of the panic. David Mericle from Goldman Sachs believes that recession fears are exaggerated.

💹 The global stock market reacted positively to statements by the chairman of the Central Bank of Japan, who promised not to rush a rate increase. Further fluctuations in the price of cryptocurrencies in the coming weeks will strongly depend on the statements of significant regulators and the general situation in the stock market. Panic has subsided, but at any moment a surge of volatility, both up and down, is possible. All this will hit the crypto market.

🇺🇸 Regulators will likely not make any big decisions until after the USA presidential elections. Nevertheless, the Fed’s predicted rate cut in September may set a good dynamic.

🇮🇳 India will release new crypto regulation proposal in September

🥻 This country has already overtaken China in terms of population (1,417 bln people). Cryptocurrencies are legal here and there is a procedure for VASP registration - more than 30 companies registered.

🧾 Probably the most unpleasant part of regulation for local exchanges, which holds back their development is the tax on any crypto transactions (TDS) - 1%. Local exchanges, including the three largest (CoinDCX, WazirX and CoinSwitch) suggested the government in July to abolish this tax, but it remained unchanged.

📝 Instead, local regulators are preparing joint crypto regulation report to be released in September. I wrote more about this topic in the article published on Hackernoon.

🇪🇺 Is EU losing Tether?

💵 Tether CEO Paolo Ardoino claimed recently that MiCA regulation causes a "systemic risk”. Ardoino considers the EU requirement to hold up to 60% of stablecoin reserves in local banks dangerous, citing the bankruptcy of Silicon Valley Bank, which caused USDC to depeg, as an example of the risk involved. In the EU, this risk is amplified since banks only guarantee deposits of up to €100,000 - a ridiculously low figure for Tether's reserves.

🧮 In addition to tightening crypto regulations in Europe, there is a trend of raising taxes that affect foreign investors. Switzerland is introducing a 50% inheritance tax, Italy is increasing a flat fee for foreign income tax exemption. Portugal abolished its NHR regime last year. This looks like a long-term trend.

🇺🇸 Will the Fed cut rate after US inflation drop?

📢 Yesterday, the market saw new data about decreasing US inflation, down to 2,9% for the last 12 months (to the end of July).

💼 Some analysts perceive this information as a reason for the Fed to cut rates in September.

🌐 Moreover, as Arthur Hayes (exBitMEX) suggested, the election and fear of global recession will force the government to increase liquidity in the market, part of which will, of course, go to the global crypto market.