🥅 In the second quarter, BTC miners earned $184 million on commissions

According to Coin Metrics, this figure is 270% more than in the previous period, and exceeds the figure for the whole of 2022.

💬 Analysts believe that the high volume of commission fees received was ensured by the ongoing boom of Ordinals and the introduction of the BRC-20 standard.

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📖 Category: crypto dictionary — complex concepts in simple language

💛 CEX — is a centralized cryptocurrency exchange, where the management and administration functions are assumed by an organization acting as an intermediary between the two parties.

💛 Bounty — is a reward in project tokens for completing certain tasks (activity in social networks, writing and translating articles, creating content or bug reports).

💛 ATH — is the highest price value for all time that any coin or token has ever reached.

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💰 Major players are actively buying BTC

According to Glassnode, on July 7, the number of addresses with a balance of 1 000 BTC reached a monthly maximum of 1 685.

📈 The catalyst for demand was the submission of applications by several traditional organizations for the launch of spot exchange-traded funds. And although the SEC has not previously approved any such application, the mood of market participants remains positive.

Also, the perception of BTC by former skeptics is becoming more and more positive.

💬 For example, the CEO of BlackRock, who previously called BTC a "money laundering index," acknowledged that the asset deserves attention as a hedging tool against currency devaluation.

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📉 Low inflation in China may support demand for cryptocurrencies

The Chinese Bureau of Statistics reported that the annual growth rate of the consumer price index in June 2023 was 0%, which is the lowest since December 2015.

📅 The producer price index of industrial goods decreased by 2.9% and reached a minimum for more than 5 years.

This can support the demand for cryptocurrencies as an alternative asset that protects against the depreciation of fiat currencies and offers high returns.

💬 Experts believe that cryptocurrencies will attract the attention of investors in conditions of low inflation and low interest rates.

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🆙 Ripple's victory over the SEC in court brought the end of the crypto Winter closer

Many cryptocurrencies have updated the annual maximum after the court did not recognize the native XRP token as a security.

In particular, BTC at the moment was trading at the highest price since June 2022 — $31,818. Over the year it grew by more than 90% and by almost 30% over the month.

💬 According to investors, the end of the litigation between the SEC and Ripple will lead to a change in market sentiment and the start of the crypto flight.

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💰 Kennedy Jr. intends to provide the dollar with bitcoin

The presidential candidate promised to cancel the conversion of BTC to USD from tax. Also, if elected, he will abolish the capital gains tax for investors who profit from BTC.

Kennedy Jr. also stressed that BTC is not a security. Moreover, it should never be regulated by governments around the world.

💬 According to the politician, the fiat currency was invented to finance wars around the world.

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🗼 Top 5 coins by production volume in July 2023

At the moment, large farms and pools mine mainly BTC. Since the beginning of the year, mining companies have significantly increased their capacity.

💻 58 well-known pools are connected to the mining of the main cryptocurrency. The total hashrate on the coin is 394.94 EH/s, the daily production volume is $14.92 billion.

On the 2nd place in terms of production is LTC — $ 1.3 billion per day. Experts associate the increased interest in altcoin mining with the upcoming halving.

💡 41 pools are focused on LTC mining, the largest of which are ViaBTC, F2Pool, AntPool. The total hashrate on the coin is 755.94 TH/s, the unit price is $100.75.

The 3rd place in terms of production belongs to BCH. The capacities of 31 pools, including ViaBTC, Solomining and AntPool, are configured for this BTC fork. The daily volume of BCH production is $498.42 million, the total hashrate is 1.95 EH/s.

💬 The top 5 most mined cryptocurrencies also included DOGE — $195.08 million, and CFX — $100.56 million.

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⚙️ Bitmain has released the first miner for Filecoin (FIL)

According to the announcement, the devices have a hashrate of 4300T, and users can connect the devices to the platform of the Antpool mining pool associated with Bitmain to receive rewards immediately after purchase.

FIL offers a unique combination of mining and staking to support its decentralized storage network.

💬 Storage providers provide their computing resources for storing and retrieving data, receiving a reward for mining depending on the storage capacity.

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