FTX Investor 🤣

The crypto market is recovering 📈

BTC is trading above $60k, and ETH above $2.6k.

Fear and Greed Index — 48 (neutral sentiment). 🧐

OKX will block user accounts! 🚫

This may occur in two cases:

▪️When funding an account with funds from sources subject to U.S. sanctions (such as Garantex and Tornado Cash).

▪️ When withdrawing funds from OKX to addresses associated with sanctioned entities.

This information was published by OKX CEO Star Xu.

Bitcoin miners' reserves have hit a 3-year low, with the total holdings now down to 1,510,300 BTC — a 2.4% decrease from the peak in December 2020. 📉

Currently, these BTC assets are valued at around $86 billion, representing roughly 8% of all Bitcoin in circulation.

Additionally, Bitcoin miners are facing record-low profitability.

Matrixport anticipates a BTC increase soon 📈

👀 The RSI indicator indicates Bitcoin is currently oversold, and with U.S. inflation data set to be released next week, BTC typically sees gains in these scenarios.

Traders could respond favorably to a decline in U.S. inflation, particularly if it dips below 3%. 🚀

Vitalik Buterin transferred 3,000 ETH ($8 million) to a new multi-signature wallet.

🕵️‍♂️ Lookonchain suggests that this is most likely a charity donation from Vitalik.

But maybe it's just a gift for his girlfriend. 😁

Panic sellers who unloaded their Bitcoins during the recent crash locked in about $1.38 billion in realized losses. 🤷

This event ranks as the 13th largest capitulation in history in terms of dollar value. 😳

CryptoQuant analysts reported that the realized price for short-term Bitcoin holders is around $64,000 - $65,000.

🐳 Some whales, tired of enduring losses, might decide to exit as soon as they reach their breakeven point. 🤷

Tether will double its staff over the next year to better meet regulatory requirements.

The company expects its workforce to reach 200 employees by mid-2025.

According to Paolo Ardoino, Tether is very cautious about overly aggressive workforce expansion.

Where can I apply for a job? 😄

📢 Ripple announced the start of closed beta testing for their stablecoin Ripple USD (RLUSD) on the XRP Ledger and Ethereum mainnet.

👀 RLUSD has not yet received regulatory approval and is therefore not available for purchase or trading. The company is urging everyone to be cautious of scammers claiming to have or be able to distribute Ripple USD. 🚫🥷

A critical vulnerability has been discovered in the Solana blockchain! 🚨

Yesterday, it was reported that a serious security flaw had been found in Solana’s system. 🔎

▪️ By the time the vulnerability was publicly disclosed, it had already been addressed

👀 The Solana Foundation was able to keep the issue confidential thanks to their approach of maintaining communication with major validators through secure channels.

🔨 Within 5 days, the blockchain implemented a fix and secured over 70% of the network, ensuring that the vulnerability was not exposed early enough for potential exploitation.

Tether CEO Paolo Ardoino has raised concerns that the EU's MiCA regulation could threaten stablecoins and the banking system.

👀 MiCA requires that at least 60% of stablecoin reserves be held in EU bank accounts. Ardoino noted that banks operate on a fractional reserve system, meaning only a fraction of deposits are available for withdrawal at any time. 💵

He also pointed out that cash deposits in the EU are insured up to just $100,000.

📉 🤷Ardoino highlighted the 2023 collapse of Silicon Valley Bank, which was a reserve bank for USDC and led to USDC losing its dollar peg, as a key example of the potential risks.

Is Bitcoin Losing Its Volatility?

In 2024, there have been only 25 days with high price volatility.

In comparison, previous cycles recorded 56, 140, and 64 such days, respectively. 🧐

"BTC back to 60K, we're back bro"

Guy who bought Bitcoin at $70,000 🤣

A user paid $90,000 for a $2,200 transfer in Ethereum! 🙀

An unknown user likely accidentally paid 34 ETH ($89,239) in gas fees for a transfer of 0.88 ETH valued at approximately $2,262. 🤷

👀 According to YCharts, the average fee on the Ethereum network dropped to a January low of $0.52 on August 10.

According to Ethereum Gas Tracker, the current network fee for the most expensive transaction—an NFT sale—is $6.14 for high priority. 🧐

🇻🇪 Venezuela blocks both Binance and X (Twitter) amid the unrest following the presidential election. 🚫

Binance's P2P service is highly popular in Venezuela, where people frequently convert fiat to crypto to fight inflation.

Binance representatives assured that the funds of its users are safe.

Previously, Elon Musk vowed to "burn the mustache" of Venezuelan President Maduro in response to the country blocking X. 😁 🔥

The Fear and Greed Index has once again fallen back to the "Extreme Fear" zone. 📉

Bitcoin is trading at $58,000, and Ethereum at $2,590. 👀

Kamala Harris Takes the Lead! 🚀

On Polymarket, Kamala Harris has pulled ahead in the race against Trump, leading by 7%. 🧐

Who will be the next U.S. president?

⚡️ — Trump
❤️ — Harris

Binance is delisting Monero, Bitcoin Gold, and Bitshares entirely.

Users can withdraw Monero, Multichain, Bitcoin Gold, and several other delisted cryptocurrencies until September 1, 2024.

📅 After this date, the platform will take a snapshot of the relevant user balances and convert the assets into the stablecoin USDC. Equivalent amounts will be credited to user wallets by March 1, 2025.

You can find the full list of affected coins here. 🧐

Bitcoin 60K Support

Whale is selling 1 million ETH bought during the ICO! 💰

🐳 A whale, who received 1 million ETH during the ICO, has been regularly transferring batches of 1k-5k ETH to exchanges and has already sold 48,500 ETH.

The latest transfer was 5,000 ETH and took place about a day ago. 🧐

The whale acquired ETH at a rate of $0.31 and is now indifferent to the selling price.