🐳 Bitcoin Whales Dive In: Despite Bitcoin's 4-Month Low at $53,000, whales are making waves by buying aggressively. This surge in whale activity hints at a potential upswing in demand for the leading cryptocurrency.

📉 Losses Loom: New and large investors aren't riding the waves smoothly, with nearly $1 billion in losses realized in July alone. It's a challenging time reminiscent of the FTX exchange collapse in November 2022.

📊 Mixed Signals: While whales make a splash, the market's overall outlook remains murky. The P&L Index hovers around its 365-day moving average, often signaling major corrections or bear markets. Additionally, stablecoin liquidity lacks the oomph needed for a significant bitcoin price rally.

⛏ Miners' Moves Matter: Amidst this tumultuous tide, mid and large-sized bitcoin miners are making their own moves. Selling portions of their holdings, they contribute to an ongoing capitulation process that adds another layer of complexity to the market's dynamics.

As we navigate these treacherous waters, it's clear that both whale activity and miner maneuvers will be key factors shaping Bitcoin's future trajectory. Stay tuned for more crypto updates! 🚀

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🚀 Abra Expands Offerings with Valkyrie's Tron and Zilliqa Trusts

💼 In a strategic move, Abra, the digital asset platform, has ventured into the corporate world with its new digital asset treasury service. After successfully resolving regulatory issues in June, Abra is now eyeing a fresh audience.

🤝 Acquiring Valkyrie's trusts, including popular assets like Tron and Zilliqa, was a smart play by Abra. The deal was inked back in May, even before the regulatory settlement, showcasing Abra's foresight.

📈 Marissa Kim, Abra's head of asset management, sees this acquisition as an opportunity to broaden their product range for spot and defi products. It's a win-win situation for both companies as Valkyrie continues to streamline its operations under Coinshares.

💡 Looking ahead, Kim hints at the possibility of taking some funds public, but that depends on the ever-changing market appetite. Exciting times lie ahead for Abra and its growing base of investors!

🚀 Hermetica Revolutionizes Bitcoin DeFi with USDH: A Bitcoin-Backed Synthetic Dollar on L1

🌟 Hermetica, the trailblazer in decentralized finance, is shaking up the crypto world once again! Introducing USDH, a groundbreaking stablecoin that's not just pegged to the dollar but backed by the mighty Bitcoin itself. This innovative move allows BTC holders to have their cake and eat it too – enjoying the stability of a dollar while staying firmly rooted in the world of Bitcoin.

💪 No more reliance on centralized exchanges or fiat-backed alternatives! With USDH, you can say goodbye to custodial worries and hello to a non-custodial option that's as secure as it gets. Hermetica CEO Jakob Schillinger couldn't contain his excitement, stating, "We're breaking free from traditional banking systems, offering you dollars with a twist – it's all about Bitcoin!"

🌐 But that's not all. By integrating with the Runes protocol and Liquidium lending platform, USDH becomes a bridge between Bitcoin's L1 and various L2 solutions. This means enhanced interoperability within the Bitcoin ecosystem, opening doors to a whopping $360 billion of untapped potential for yield generation. The future of finance just got a whole lot brighter!

In this ever-evolving landscape of digital assets, Hermetica is once again leading the charge, empowering Bitcoiners to navigate the DeFi space with confidence and freedom. So buckle up, fellow crypto enthusiasts – the era of decentralized dollars backed by the king of cryptocurrencies has arrived!

📈 Institutional Custodians and ETFs Drive Significant Bitcoin Market Movements

🏦 Glassnode's latest research reveals a strong presence of institutional custodians and exchange-traded funds (ETFs) in the Bitcoin market, with a whopping 4.9 million BTC under their control, equivalent to a quarter of the circulating supply.

🔄 After the German government's complete sell-off, we witnessed a temporary relief on the sell-side, accompanied by renewed demand. This demonstrates the market's resilience and the profitability enjoyed by many bitcoin holders.

📊 ETFs are emerging as key players, with 11 U.S. spot ETFs holding around 887,000 BTC, accounting for 4.57% of the total market cap. Centralized exchanges, on the other hand, possess about 3 million BTC. This shift highlights the growing influence of ETFs on market dynamics.

⚖️ The impact of these institutional giants is significant, with swings of +4K BTC observed, suggesting their flows have a 4x to 8x larger effect than those of miners.

💼 While short-term holders face challenges amid recent volatility, long-term holders maintain robust positions. This divergence emphasizes how different cohorts within the crypto community experience market corrections differently.

Despite the rollercoaster ride, it's clear that institutional custodians and ETFs are now driving major waves in the Bitcoin sea.

📈 Decentralized Finance TVL Recovers to $100B After July Lows

💹 The value locked in decentralized finance (defi) protocols has rebounded, reaching an impressive $100.85 billion as of July 22. This signifies a solid 16.85% rise since July 7, although it has yet to surpass the previous high of $109.66 billion in June.

🥇 Leading the pack is the liquid staking protocol Lido, boasting an impressive $33.78 billion in TVL, according to defillama metrics. Not far behind is restaking protocol Eigenlayer with $15.87 billion, and Aave securing the third spot with $13.36 billion.

📉 Despite this positive trend, the overall market experienced a slight dip with the top 100 defi tokens valued at $89.5 billion, reflecting a 1.4% decrease over the past 24 hours.

🔝 Coingecko's data reveals that Lido's staked ether (STETH) commands a significant 37.8% defi dominance, followed by chainlink (LINK) with a market valuation of around $8.6 billion. Fortunately, most of the top 100 defi tokens have shown gains in the past week.

⚖️ While crossing the $100 billion milestone is encouraging, there are still concerns about potential volatility ahead. The industry has experienced its fair share of ups and downs recently, so all eyes are on whether this current surge can maintain its momentum and continue to grow.

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🚀 Proton Revolutionizes Bitcoin Storage: 100 Million Users Embrace Email Transactions

🔒 Proton, the privacy-focused mastermind behind Proton Mail, has unveiled its latest creation: Proton Wallet. This cutting-edge bitcoin storage solution not only prioritizes security but also caters to over 100 million users worldwide.

🔐 "Our vision is to empower users with full control over their digital assets," shared CEO Andy Yen. This self-custodial wallet is just the beginning, with plans to expand beyond bitcoin in response to user demand.

🔑 What sets Proton Wallet apart? End-to-end encryption ensures your bitcoin remains yours alone. Unlike exchanges, Proton never mingles your coins, safeguarding them from potential hackers.

💡 But it's not just about safety; it's about simplicity too. With a recovery seed phrase known only to you, even if Proton vanished, your bitcoin would remain accessible.

📧 Sending and receiving bitcoin is now as easy as email, thanks to Proton's seamless integration. As Yen explained, "If you have a Proton Mail address, you can now receive bitcoins automatically."

💰 While fiat currency integration may be on the horizon, Proton's focus remains on empowering all individuals with the financial freedom that bitcoin represents.

In this digital age, where privacy and control are paramount, Proton Wallet shines as a beacon of trust and innovation.

🔮 Clash of Titans: Kiyosaki vs. Schiff - Gold, Bitcoin, and the Dollar's Destiny

💥 Economist Peter Schiff and financial guru Robert Kiyosaki locked horns on X, with the future of gold, silver, oil, the U.S. dollar, and bitcoin hanging in the balance. Their battleground? The possibility of a Trump encore.

📈 Kiyosaki boldly proclaimed that a Trump sequel would send gold, silver, and bitcoin soaring. A weaker dollar would be the wind beneath their wings, he argued, turbocharging exports and asset prices while drilling down oil costs. Schiff wasn't buying it:

🌍 "Sure, some may prosper, but America as a whole will suffer," Schiff countered. And those oil prices? Up, up, and away!

🔮 Kiyosaki then whipped out his crystal ball: by August 2025, gold at $3,300/oz, silver at $79/oz, and bitcoin dancing at $105k per coin.

⚡️ But Schiff wasn't swayed; he saw a different future for bitcoin: "Don't bet the farm on it," he warned.

🐻 Schiff's disdain for bitcoin is no secret; he's been calling its bear market since forever. And now he's got Ethereum in his crosshairs too.

🤝 Trust is key for Schiff; if you're going to trust someone with your assets, might as well go for gold.

💰 Meanwhile, Kiyosaki remains bullish on bitcoin, urging investors to hop on board before it rockets further. He's even stocking up himself every month.

In this clash of financial titans, only time will tell who'll emerge victorious. Will gold glitter or will bitcoin blast off? Buckle up!

📉 Crypto Fear and Greed Index: 'Greed' Persists Amid Bitcoin's Price Dip

📉 Extreme fear gripped the crypto market just 18 days ago, but now the sentiment has shifted to greed with a score of 1-100. The CFGI has been flashing 'greed' signals lately, despite last month's neutrality.

📊 The CFGI takes into account various factors like volatility, dominance, social media buzz, and more. While Bitcoin's price swung between $69,000 and $70,000 recently, it's currently hovering around $66,000, with a 15.78% drop in trading volume hinting at selling pressure.

⏳ However, the CFGI may be lagging behind as BTC moves swiftly. With the FOMC meeting today, where Fed Chair Jerome Powell speaks, Bitcoin's value could see significant fluctuations. Investors are eager for hints about what lies ahead in September.

Remember, in the world of crypto, emotions can change faster than you can say 'HODL'!

🔒 Indian Court Upholds Crypto Legality, Yes World CEO Gets Bail

👨‍⚖️ In a resounding victory for the cryptocurrency community, the Orissa High Court in India has reaffirmed that digital currencies are legal. This comes as Sandeep Chowdhury, the CEO of Yes World, secures bail after being accused of running a fraudulent scheme disguised as a crypto venture.

📜 Justice Aditya Kumar Mohapatra, the judge overseeing the case, made it clear that there is no official ban on crypto trading in India. He emphasized that the government and regulatory bodies have yet to declare it illegal, echoing a Supreme Court ruling from March 2020.

⚖️ Chowdhury's arrest last November sent shockwaves through the industry. However, his legal team fought back, challenging the charges and ultimately succeeding in securing his release on bail.

🏛 The Orissa High Court has been consistent in its stance on cryptocurrencies. Earlier this year, Justice Sasikanta Mishra clarified that digital assets do not fall under existing laws governing money circulation or deposits.

💰 While India may lack specific regulations for crypto, traders face hefty taxes with gains taxed at 30% and no provision to offset losses. Moreover, a 1% TDS adds to the burden for those involved in digital asset transactions.

As India navigates its way through the crypto landscape, this court ruling serves as a beacon of hope for enthusiasts and entrepreneurs alike.

🚀 Coinshares Rockets to New Heights with Strong Q2 2024 Earnings!

💰 Coinshares, the digital asset management powerhouse, is on a winning streak! In Q2 2024, they reported a stellar £22.5 million in total revenue, more than doubling last year's figures. Talk about shooting for the moon!

📈 Gains and other income also skyrocketed, reaching an impressive £15.2 million, up from £8.2 million in Q2 2023. It's like finding a pot of gold at the end of the crypto rainbow!

💼 Adjusted EBITDA tells an even more exciting story, with a whopping 133% increase year-over-year, hitting £26.6 million. That's some serious financial lift-off!

🌪 But every rocket launch has its turbulence. Coinshares faced a setback with a £24.8 million loss in principal investments due to Flowbank's bankruptcy. Yet, they managed to turn things around by selling their FTX claim and securing a stellar 116% recovery rate, adding a cool £28.7 million to their coffers.

💼 The bottom line? Coinshares' total comprehensive income for Q2 2024 soared to an astronomical £25.8 million, compared to just £5.3 million in the same period last year. It's like they found the crypto equivalent of El Dorado!

🌍 Looking ahead, Coinshares isn't resting on its laurels. They're eyeing global expansion, with recent acquisitions and product development efforts taking center stage. However, they're keeping an eye on potential market volatility and regulatory changes – after all, even rockets need to navigate through space debris!

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🚀 South Korea Takes the Lead as XRP Soars After Court Victory

💰 XRP, the sixth-largest cryptocurrency, experienced a significant surge in value following a court ruling that imposed a hefty $125 million penalty. On Thursday, its price fluctuated between $0.5836 and $0.6415, signaling a bullish trend.

📈 In terms of trade volume, XRP ranked seventh, with an impressive $4.94 billion in 24-hour trading on Coingecko. While tether remains a popular pair, the South Korean won has emerged as the second most traded currency with XRP, surpassing the US dollar.

🇰🇷 South Korea's love for XRP is undeniable, with Upbit showcasing it as the top volume leader and even boasting a 2.65% premium compared to the global average. Bithumb follows suit, reporting XRP as its most traded asset, albeit with a slightly lower premium of 2.3%.

📊 Upbit's trading volume involving XRP stands at an impressive $2.51 billion, accounting for nearly 30% of their total volume. Meanwhile, Bithumb sees XRP trades making up around 22.87% of their $673 million daily volume. This regional demand further solidifies XRP's position.

The court ruling has not only injected confidence into XRP traders but also highlights South Korea's role as a driving force behind this digital asset's recent success.

🚀 AI Search Engine Perplexity Teams up With Predictions Market Giant Polymarket

🤝 Partnership for the Future of Information

The AI-powered search engine and chatbot, Perplexity, has exciting news to share! In a move that promises to revolutionize information access, it has joined forces with Polymarket, the leading predictions market on the Polygon blockchain. This collaboration aims to bring users not just news summaries but also real-time probability predictions on everything from elections to market trends.

🔍 A New Era of Event-Based Data Search

Tech enthusiasts were first tipped off by techcrunch.com's Ivan Mehta, who delves into the partnership's finer points. According to Mehta, Perplexity is gearing up to introduce a dedicated search box for event-related inquiries. And that's not all – they plan to visualize Polymarket data through their AI platform Tako, as Mehta's report reveals.

📈 A Meeting of Minds in the Data Universe

Polymarket's CEO, Shayne Coplan, sees this collaboration as a natural fit. He praises Perplexity's commitment to providing reliable information in an increasingly chaotic online world. With Polymarket gaining traction during the 2024 election frenzy, this partnership couldn't have come at a better time.

📊 Perplexity: Where AI Meets Real-Time Insights

Perplexity isn't just another AI application; it's experiencing remarkable growth! With over 15 million active monthly users in Q1 2024, its multimodal capabilities and conversational search browser set it apart. Plus, unlike other language models, Perplexity doesn't rely on outdated data – it offers up-to-the-minute information with proper citations.

⚡️ The Fusion of Real-Time Data and Advanced AI

This collaboration between Perplexity and Polymarket isn't just about convenience; it's a sign of the times. As the digital landscape becomes more intricate, users crave immediate, data-driven insights. By merging real-time predictions with cutting-edge AI technology, these platforms are at the forefront of enhancing user experiences with precise and actionable information.

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🚀 Crypto Legislation: Schumer's Optimism Signals Bipartisan Breakthrough in 2024

💡 Senate Majority Leader Chuck Schumer has set his sights on a groundbreaking achievement, expressing confidence in the Senate's ability to pass bipartisan crypto legislation before the year is out.

🤝 Speaking at the virtual town hall event "Crypto4Harris," Schumer stressed the need for collaboration across party lines, highlighting that even in these politically divided times, progress is within reach.

🌐 Recognizing the significance of innovation and America's global standing, Schumer's vision for crypto regulation is crystal clear: uniting senators from both sides to craft smart laws that keep the US at the forefront of technological advancement.

🔵 Democrats are making strategic moves to embrace the digital future, with this event serving as a platform to showcase their support. Joined by Senators Gillibrand and Stabenow, Schumer underlined that crypto is not a passing trend, but a force to be reckoned with.

⚖️ The message is loud and clear: Congress must get it right. As the world embraces cryptocurrencies, the United States aims to lead the way with sensible regulations that foster innovation and protect investors.