Kaspa's price has reached a new all-time high, driven by strong investor interest and community support rather than market trends. The altcoin's mining hashrate, which had been steadily increasing, briefly declined, impacting its price before rising again. Despite Bitcoin's price drop, Kaspa saw a 16.5% increase in the last week due to its low correlation with BTC. This independence from Bitcoin's movements has been beneficial for Kaspa, leading to its current bullish run. The altcoin's price hit $0.2079 today, marking its third all-time high in three months. Investors' confidence in Kaspa has helped it resist market bearishness, with the previous high of $0.198 now acting as a support level. While a drop to $0.184 is possible with selling pressure, the overall outlook remains positive for Kaspa's price. Read more AI-generated news on: https://app.chaingpt.org/news

Registered investment advisers (RIAs) are now playing a crucial role in expanding the adoption of cryptocurrencies. Despite the success of crypto ETFs like Bitcoin and Ether, reaching everyday investors remains a challenge. RIAs, managing a $9 trillion market in the US, are key to driving ETF flows. However, many RIAs are hesitant due to market volatility and regulatory uncertainties. Advisers like Will McGough suggest treating crypto investments as high-risk assets. While some RIAs are exploring crypto due to client demand, access to crypto ETFs is limited at major financial advisories. Issuers are optimistic about future growth, especially with the potential addition of staking to ETFs. Overall, the availability of digital assets in ETF form is seen as a game changer that could lead to increased adoption over time. Read more AI-generated news on: https://app.chaingpt.org/news

Manhattan District Attorney Alvin Bragg has revealed charges against an individual for running a fraudulent cryptocurrency recovery business. Michael Lauchlan faces multiple charges for defrauding Coin Dispute Network users by claiming to recover lost assets but instead stealing funds. The platform offered blockchain analysis and assistance in recovering crypto transactions, deceiving over 175 people. Authorities seized $14,000 in user funds and arrested Lauchlan in Las Vegas. This incident adds to New York's crackdown on illicit crypto practices, with actions taken against firms and individuals. The case highlights the risks in the crypto industry and the importance of due diligence when engaging with such services. Stay vigilant to avoid falling victim to similar scams in the evolving world of cryptocurrency. Read more AI-generated news on: https://app.chaingpt.org/news

The European Securities and Markets Authority (ESMA), the regulatory body overseeing the EU's financial markets, has raised concerns about global crypto firms seeking partial authorization under the Markets in Crypto Assets (MiCA) regulation while operating significantly offshore. ESMA's latest Opinion emphasizes the complex structures of these firms, using EU-authorized brokers to execute orders outside the EU, potentially undermining consumer protection and creating an unfair advantage for non-EU venues. To address this, ESMA urges EU member states' National Competent Authorities to thoroughly assess these firms during the authorization process. The Opinion stresses the importance of compliance with MiCA regulations to protect consumers and uphold industry integrity. ESMA also outlined specific requirements for firms, including best execution practices and proper management of conflicts of interest. The MiCA framework aims to enhance transparency and clarity for investors and service providers, with EU regulators actively enforcing legislation and providing guidance to ensure market uniformity. Read more AI-generated news on: https://app.chaingpt.org/news

Amid the #EndBadGovernanceInNigeria protests, Nigeria's cryptocurrency community is advocating for industry-specific demands to be incorporated. The movement, aiming to tackle governance issues, presents an opportunity for regulatory reforms that could benefit the crypto sector and the economy. Rume Ophi, former Secretary of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), supports including crypto-related demands in the protest agenda, emphasizing the citizens' right to advocate for national interests peacefully. On the contrary, Chimezie Chuta, Chairman of the National Blockchain Policy Steering Committee, believes the government has already taken steps to support the blockchain and crypto industry. He mentioned the establishment of a steering committee and a sub-committee working on a unified regulatory framework for Virtual Asset Service Providers. Stakeholders have urged for supportive regulations to enhance blockchain adoption, while the SEC has introduced a pre-assessment portal for VASPs seeking licenses. Read more AI-generated news on: https://app.chaingpt.org/news

Celestia, a layer-1 data availability network, is on track to surpass Ethereum as the top onchain data storage provider, as per Blockworks Research. Since May, Celestia has been steadily gaining market share from Ethereum, starting at 20% and reaching around 40% by July 31. Launched in 2023, Celestia offers a modular data availability network for launching blockchains securely, competing directly with Ethereum. Despite Ethereum's Dencun upgrade introducing cost-saving measures like 'blobs' for offchain data storage, Celestia still offers cheaper data storage solutions. Other challengers in data availability include EigenLayer and Avail. However, Ethereum's dominance in decentralization, stability, and total value locked (TVL) solidifies its position as Web3's primary settlement layer. According to Blockworks' Dan Smith, Ethereum's core strengths ensure its continued relevance in the evolving crypto landscape. Read more AI-generated news on: https://app.chaingpt.org/news

In a surprising twist, Statista's 2024 revenue projections suggest that the UK's online casino industry will surpass the USA's in revenue generation. The UK is expected to generate $6.468 billion, outpacing the US's $6.29 billion. This shift is driven by higher user penetration and average revenue per user (ARPU) in the UK. Despite the US having a larger population, the UK leads due to its higher user penetration rate of 17.4% compared to the US's 9.4%. UK players also have a significantly higher ARPU, investing more in online gambling. The UK's cultural acceptance of gambling and history play a vital role in these numbers. The convenience of online gambling, especially during the pandemic, has further boosted its popularity. Additionally, the rise of non-GamStop casinos in the UK offers flexibility but raises concerns about player protection. The UK's stringent regulatory framework overseen by the UKGC has contributed to market growth, emphasizing responsible gambling practices. Read more AI-generated news on: https://app.chaingpt.org/news

A significant development in South Korea's cryptocurrency industry mandates major operators like Upbit, Bithumb, and Coinone to pay a supervisory fee under the Virtual Asset User Protection Act. The fee, based on operating income, is estimated at around 300 million won for leading exchanges, posing financial challenges. The Financial Services Commission announced revisions requiring virtual asset operators to contribute to supervisory fees for inspections by the Financial Supervisory Service. Upbit, Coinone, and Gopax face contributions based on their previous fiscal year's revenue, with Korbit exempt due to lower revenue. Despite operating losses, exchanges must pay the fee, straining their finances. The decision to expedite these fees was influenced by imminent FSS inspections post-Act enforcement. To comply with user protection laws, 20 local exchanges are reviewing 1,333 digital currencies over six months. Read more AI-generated news on: https://app.chaingpt.org/news

Decentralized finance (DeFi) is seeing a resurgence, with active loans and total value locked (TVL) on the rise after hitting lows in 2023. Token Terminal, a crypto market analytics platform, stated that DeFi is 'waking up again' in a recent post. Active loans have returned to early 2022 levels at $13.3 billion, indicating increased lending and borrowing activity. This surge in DeFi lending is seen as a positive sign, potentially signaling a bull market. Despite a significant drop in TVL in 2023, the sector has rebounded by 160%, reaching $96.5 billion. Aave, a DeFi lending platform, is expected to outperform with the rise in its native stablecoin supply and cost-cutting measures. While some DeFi tokens are still struggling, there are optimistic views on the sector's future growth and performance. Read more AI-generated news on: https://app.chaingpt.org/news

Mark Zuckerberg's Meta Platforms incurred an additional $4.5 billion loss in its metaverse division, Reality Labs, during the second quarter of this year, bringing the total losses to nearly $60 billion since 2019. Despite this, Meta reported a revenue of $49 billion in Q2, a 22% increase from the previous year, with a profit of $13.5 billion driven by advancements in AI and app growth. The company's share price rose by 7.1% after the earnings call, surpassing analyst expectations. Meta aims to boost its capital expenditure in 2025 for AI research. Despite ongoing losses in Reality Labs, the division responsible for VR headsets, Meta plans to increase investments in the metaverse ecosystem. Additionally, younger users are showing interest in Facebook Marketplace, contrary to public perception. The company remains focused on AI development and metaverse expansion. Read more AI-generated news on: https://app.chaingpt.org/news

Donald Trump's limited-edition orange Bitcoin-themed sneakers are now being resold on eBay, with prices reaching up to $2,500. Currently, there are 12 listings for the orange high-tops, starting at $700 and going as high as $2,500. Some sellers even jokingly set prices at $69,999. However, the legitimacy of these listings is uncertain, with mixed feedback on the sellers. The sneakers, part of a limited edition run of 1,000, sold out within three hours of launch. Some pairs are signed by Trump, adding to their value. Trump's sudden support for cryptocurrency has led to the release of these crypto-themed sneakers, along with other Trump-branded merchandise. This shift in stance follows Trump's previous negative comments on Bitcoin, now advocating for digital assets and promising a 'strategic national Bitcoin stockpile' if reelected as president. Read more AI-generated news on: https://app.chaingpt.org/news

GMX, a leading on-chain perpetual and spot exchange, has launched an on-chain vote for a significant proposal to overhaul its revenue distribution strategy. The proposal, named 'Buyback GMX and Distribute GMX,' aims to increase the long-term value of the GMX token by transitioning from the current 'buyback ETH and distribute ETH' model to a 'buyback GMX and distribute GMX' approach. Following a successful snapshot vote, the proposal has entered the on-chain voting phase. Community members of GMX DAO have until August 4 to vote on this crucial change. If approved, the new model will not only enhance the GMX token's value but also provide real-yield benefits for users. The proposal includes options for users to convert distributed GMX to ETH, allocates fees towards daily GMX purchases, and introduces a buyback contract with a premium to add value to the token. This vote could strengthen GMX's position in the DeFi space, attracting more users and investors. Read more AI-generated news on: https://app.chaingpt.org/news

Ethernity, a pioneer in blockchain entertainment technology, has unveiled its testnet for Ethernity Chain, a Layer 2 solution tailored for Fortune 500 entertainment brands. Positioned as the Entertainment Layer within Optimism’s Superchain ecosystem, Ethernity Chain joins industry giants like Coinbase’s ‘Base’, Worldcoin, Zora, and Camp Network. This launch aims to tackle the challenges faced by the global entertainment industry in adopting blockchain technology, offering consumer-first infrastructure with web3 benefits. Enhanced by AI-powered Digital Rights Management (DRM), Ethernity Chain ensures robust IP protection. The testnet, live on Optimism’s Superchain, empowers developers to explore and build applications before the mainnet launch. Ethernity is actively partnering with entertainment applications like games, NFTs, and interactive media projects. Supported by Gelato RaaS Platform, Ethernity aims to bridge traditional entertainment with blockchain technology, providing a platform for major brands to innovate. Read more AI-generated news on: https://app.chaingpt.org/news

The cryptocurrency community may witness the emergence of a new Dogecoin-like token following an announcement by Kabosu's owner. This has sparked the creation of various meme coins, with one showing potential to reach the billion-dollar mark. Kabosu's owner, known as Kabosu Mama, introduced a new Shiba Inu named 'Neiro' on social media, attracting attention from crypto enthusiasts. The announcement led to the launch of multiple 'Neiro-themed' meme coins, with the Ethereum-based Neiro token standing out with a market cap of $109 million. Speculation is rife that Neiro could replicate Dogecoin's success, with analysts predicting a market cap of $1 billion. Despite concerns about supply control, ETH Neiro continues to reach new highs. If it reaches a $1 billion market cap, it will join the ranks of billion-dollar dog-themed meme coins like Dogecoin and Shiba Inu on Ethereum. Read more AI-generated news on: https://app.chaingpt.org/news

Daylight Protocol, backed by a16z Crypto and Framework Ventures, has raised $9 million to advance its platform for decentralized energy devices. The protocol aims to address the increasing need for electricity through distributed energy generation. With global electricity demand projected to rise by 3.4% from 2024 to 2026, Daylight's CEO Jason Badeaux highlighted the necessity for $600 billion in annual grid investments to achieve net zero goals. By leveraging distributed energy resources, Daylight offers a cost-effective solution to enhance energy capacity without massive infrastructure investments. The platform's testnet, launched on July 31, allows users to connect various energy devices and earn rewards. Furthermore, Daylight's ecosystem includes an onchain platform for energy data and a marketplace for energy upgrades. The company's marketplace is currently active in several states, with plans to expand further. Embracing blockchain technology, Daylight Protocol is at the forefront of revolutionizing the energy sector to meet the demands of the 21st century. Read more AI-generated news on: https://app.chaingpt.org/news

Minima, a decentralized blockchain for DePIN projects, collaborates with Influx Technology to integrate blockchain-powered data tracking in a McLaren GT4 supercar. AntPool and Foundry USA now control 56.4% of Bitcoin's hashrate, raising concerns about centralization. Minima's lightweight protocol allows participation without high-end equipment, promoting decentralization. With over 50,000 node operators, Minima aims to be the largest decentralized L1 blockchain. It utilizes quantum-resistant cryptography for security and low system requirements for efficient scaling. Minima's peer-to-peer network disconnects from company servers, ensuring user-run security. The blockchain network is maintained by users, promoting true decentralization. The collaboration with Influx Technology enables real-time data tracking in motorsport, enhancing transparency and fairness. Minima envisions a future where DePIN projects integrate into everyday life, promoting a transparent and secure digital future. Read more AI-generated news on: https://app.chaingpt.org/news

Coinbase's Base network, a layer-2 blockchain, now attracts 80% of Uniswap's active traders, surpassing Ethereum and Arbitrum. Launched in August 2023, Base quickly gained traction among DEX traders, overtaking rival blockchains. With a TVL of $7.2 billion, Base competes with Arbitrum's $17.2 billion TVL. Powered by Optimism, Base processes 42 TPS, outperforming Arbitrum's 20 TPS. Its affiliation with Coinbase offers seamless integration and access to a vast user base. Notably, $250 million in Uniswap TVL has shifted to Base. As Base vies for DeFi dominance, zk-rollups like Scroll and ZKSync Era pose future competition. These rollups promise faster transactions and heightened security, already amassing $3 billion in TVL. The crypto landscape sees a shift towards Base Network and zk-rollups, signaling a new era in decentralized finance. Read more AI-generated news on: https://app.chaingpt.org/news

Manila, Philippines, July 31st, 2024 - The Venom Foundation is excited to announce that $VENOM has been listed on Coins.ph, the top crypto platform in the Philippines with over 18 million users. This move marks a significant step in Venom's global expansion, especially in the Southeast Asian market. By partnering with Coins.ph, $VENOM gains access to a large and active user base, enhancing liquidity and market presence. The listing on Coins.ph not only increases $VENOM's availability but also reinforces Venom's commitment to making blockchain technology accessible to all. This strategic alignment with a reputable exchange like Coins.ph supports Venom's goal of global expansion, particularly in Southeast Asia. The partnership aims to grow $VENOM's presence in the Philippines and integrate it into the global financial landscape. Coins.ph, established in 2014, is a trusted crypto brand in the Philippines with over 16 million users, offering a range of financial services and regulatory compliance. Venom, a cutting-edge network, utilizes Mesh technology for seamless integration with other networks, making it ideal for hosting CBDCs and large-scale platforms. Read more AI-generated news on: https://app.chaingpt.org/news

The Law Commission of England and Wales has advised the UK government to classify all cryptocurrency assets as a distinct form of personal property. In its final report on digital assets, the independent body highlighted the shortcomings of the current classification system, which could complicate legal disputes involving crypto assets. The commission proposed the creation of a new legal category to ensure clear and enforceable property rights for cryptocurrencies and non-fungible tokens. A draft bill has been put forward to establish this third category, allowing courts to develop specific rules for crypto assets. The UK government is currently reviewing the recommendation and draft legislation. Additionally, the Bank of England and the Financial Conduct Authority have introduced a Digital Securities Sandbox to test blockchain technology for trading digital securities like shares and bonds. Read more AI-generated news on: https://app.chaingpt.org/news

M2, a crypto exchange, has introduced a new feature allowing residents in the United Arab Emirates to purchase and sell Bitcoin and Ether directly using their bank accounts. This integration enables users to convert their dirhams into BTC and ETH through M2's spot markets. The exchange believes this move will help users adapt to market changes swiftly and increase accessibility to virtual assets in the region. The CEO, Stefan Kimmel, highlighted that this integration could benefit everyday investors who are new to the trading environment. The UAE government's strict regulatory framework ensures consumer protection, with recent laws aimed at safeguarding consumers in the crypto space. Despite the challenging licensing process, the region's dedication to market integrity and investor protection makes it worthwhile for businesses to operate in the UAE. Read more AI-generated news on: https://app.chaingpt.org/news