⚡️Santiment notes that among major altcoins, XRP shows very bullish sentiment, while ADA still has very bearish sentiment.

The Solana network has surpassed Ethereum in trading volumes for the first half of July. SOL — $13 billion ETH — $10.5 billion

Bitcoin Mining Difficulty Decrease: What It Means

Bitcoin mining difficulty decreased by 7.8% in July to 79.5 T, similar to the drop during the FTX crash. This is one of the most significant decreases since 2022. Mining difficulty determines the computational power needed to find a new block and is adjusted every two weeks.

Miner Sales

Average daily revenue for miners dropped from $78 million to $26 million in July. In June, miners sold over $1 billion worth of bitcoins, leading to a price drop to $53.6k. Many mining devices have become unprofitable at current prices, which may reduce seller pressure and stabilize the market.

Main Events of the last Week

Monday

Crypto Fund for External Settlements in Russia: RSPP proposed creating a cryptocurrency fund and CFA for international settlements under sanctions.

Germany and the US Sell Confiscated Bitcoins: Increased transfers of cryptocurrencies by governments to exchanges.

Vitalik Buterin's Capital Growth: Increased by $300 million since the beginning of the year.

Tuesday

Review of 1,300 Cryptocurrencies in Korea: Possible mass delisting.

European Miner’s IPO in the US: AI resource shortages create income for bitcoin miners.

Important Events in July: Fund launches, technical updates, and token unlocks.

Wednesday

Probability of Biden Exiting the Race: Crypto investors estimate it at 75%.

Standard Chartered Bitcoin Forecast: New high expected by the US elections.

Decreased Miner Revenue: Impact on mass bitcoin sales.

Thursday

June Results for Miners: Bitfarms leads in bitcoin production.

Historic Low in Bitcoin Mining Revenue: Profitability has decreased.

Mt. Gox Wallet Transfers: Exchange prepares for $9 billion payouts.

Friday

Crypto Market Crash: Mt. Gox client payouts begin.

Conditions for Bitcoin to Drop to $50K: Reasons and key levels.

Mining Devices Become Unprofitable: Evaluation amid bitcoin price drop.

Meme time

Key Events in Cryptocurrencies This Week

Monday:
- zkSync token debuts on exchanges: Project with $458M in investments launched.
- Mining company stocks outperform Bitcoin: AI boom drives demand for computational power.
- Tether launches Alloy platform: Digital assets created using Tether Gold as collateral.

Tuesday:
- Bitcoin falls to $64.4K: Decline in Bitcoin fund investments.
- Miners and whales sell Bitcoin: Impact on the market.
- Sanctions against Moscow Exchange: Effect on the Russian crypto market.

Wednesday:
- Software to combat crypto crimes in Russia: Monitoring suspicious transactions.
- US miners reduce operations in summer: Impact on profitability.
- Hedge funds reduce Bitcoin holdings: Investment levels back to 2020.

Thursday:
- AI-related cryptocurrencies surge: Bitcoin consolidation.
- LayerZero token launched: Project valued at $3B.
- Miners sell Bitcoin off exchanges: Amid Bitcoin correction.

Friday:
- Trump receives $2M in Bitcoin: Support from the Winklevoss brothers.
- Marathon Digital uses mining to heat a city in Finland: New revenue sources.
- Standard Chartered creates crypto trading division: Optimistic Bitcoin forecast.

Standard Chartered Launches Cryptocurrency Trading

Standard Chartered is launching a cryptocurrency trading department, including Bitcoin and Ethereum. This new division will be part of the trading department and will be based in London. The bank also owns stakes in Zodia Custody and Zodia Markets, which provide cryptocurrency storage and trading services. Additionally, in November, it launched the Libeara blockchain division for tokenizing real assets.

Key Points:
Trading Launch: Coming soon.
Regulatory Cooperation: Active engagement.
Client Support: Trading, custody, tokenization.

Investments:
Zodia Custody and Zodia Markets: Custody and trading services for cryptocurrencies.
Libeara: Tokenization of real assets.

Bitcoin Forecasts:
Trump Victory: Up to $150K.
2024: $150K.
2025: $200K.
Support Levels: Possible drop to $50-52K.

Current Situation:
June 21: Bitcoin below $64K due to capital outflows and miner sales.

🪙 Locations of the largest concentrated Bitcoin volumes:
All exchanges — 2.3 million BTC
Miners (excluding Satoshi) — 706,000 BTC
Spot ETFs — 862,000 BTC
US government — 207,000 BTC
Mt. Gox trustees — 141,000 BTC

⚡️Recently CryptoQuant analysts registered the second-largest daily purchase of Ethereum by long-term holders in history —298,000 ETH.

The record daily purchase was on September 11, 2023—317,000 ETH.

🐳Whales are accumulating ahead of the Ethereum ETF S1 approval.

⚡️NOT dropped by 17% in 24 hours.

This is the largest decline among all cryptocurrencies.

⚡A sharp rise in BTC to $71k will lead to the liquidation of $1.38 billion in shorts

BR Agency x Blockchain Life 2024🚀

The legendary Blockchain Life 2024 will return for its 13th edition on October 22-23. As Dubai gains a reputation as a global crypto hub, the forum is set to be the central event of this year.

With the highly anticipated peak of the crypto market growth still ahead, the forum presents an excellent opportunity for attendees to maximize their earnings.

More than 10,000 people from 120 countries are expected to gather at the forum to explore potential investment opportunities.

🔹Lineup of industry experts, thought leaders, and innovators who will share their insights and strategies.

🔹Innovative expo area where leading companies will showcase their latest products.

🔹VIP ticket holders and speakers will also experience the hours of informal networking at the legendary AfterParty.

Buy a ticket at the lowest price using promo code BRGROUP Presale right now: www.blockchain-life.com

See you there!🤝🏻

⚡️This Friday, BTC and ETH options worth a total of $8.12 billion will expire.

BTC: with a put/call ratio of 0.6, a max pain point of $65,000, and a notional value of $4.65 billion.

ETH: with a put/call ratio of 0.85, a max pain point of $3,300, and a notional value of $3.47

⚡️There are 13 tokens listed on Binance for futures trading but not for spot trading.
In the trading volume rankings, only TON and ONDO have large trading volumes.

⚡️Eleanor Terrett (FOX): The SEC and the issuers of spot ETH-ETH have started negotiations regarding S-1 filings

🚀In just 3 weeks, the number of USDT tokens issued on the TON network has exceeded 230,000,000 tokens — this is the most successful stablecoin launch in Tether's history across all blockchains.

⚡️The latest development in the MEME TOKEN segment on Solana is the NationFi sector, where each token represents a specific country.

After 9 years, another Ethereum ICO participant woke up and moved 1960 ETH ($5.9 million). They got the coins in 2015 for $0.31 each.

⚡️In May, Binance plans to launch a new spot trading tool that allows users to track and automatically replicate trades from some of the platform's leading traders.

🚀Bitcoin’s fourth halving took place, slashing new coin issuance in half and setting the stage for potential price surges.

Unique this year, Bitcoin reached a new high of $73,000 in March, fueled by the launch of U.S. spot ETFs which now manage over $50 billion — more than 4% of all BTC. Historically, the market tends to peak about a year post-halving before entering a bear phase, each peak outdoing the last.

After the recent Bitcoin halving, transaction fees surged but have now stabilized at $34.8.
This followed a peak of $128.45 on halving night, influenced by the launch of the Runes protocol. This pattern of high fee volatility is linked to new tech developments within Bitcoin, causing spikes during periods of intense transaction activity. Keep an eye on this trend for potential future changes. #Bitcoin #CryptoFees #Blockchain