Ethereum saw a slight rally after finding support at $2.1K. However, the price is likely to resume a downtrend. On the daily chart, ETH broke the lower boundary of the wedge at $2.8K and found support at $2.1K. On the 4-hour chart, it is facing strong resistance in the $2.6K-$2.8K range. If this resistance cannot be broken, the downtrend may continue. On-chain analysis also supports this scenario. 📉

Bitcoin price has been consolidating in a wide range since March and is slowly falling. On the daily chart, the price has fallen below the 200-day moving average and has recovered from $50K. It could now test the $56K level. If this level holds, a new bull run could begin. 📈

On the 4-hour chart, a rapid recovery from the $52K support level is observed. However, it is struggling to break the $61K resistance. If this resistance is broken, a move towards the $64K level is possible. Otherwise, the market could fall back to $52K.

According to on-chain analysis, Bitcoin exchange reserves have decreased significantly. This indicates that investors are accumulating BTC and there is a possibility of a supply shock. This could lead to a price increase. 🚀

Coinbase has submitted its third comment letter highlighting major deficiencies in the cost-benefit analysis of the SEC’s proposed rules. 📄 The letter states that the SEC has failed to adequately assess the economic impact of DEXs and that they present uncertain benefits. Coinbase argues that the SEC should withdraw and reconsider the proposal. This could lead to small DEXs exiting the market due to high compliance costs.

Arkham Intelligence announced that $2 billion worth of Bitcoin was moved from a blockchain address connected to Mt. Gox’s BitGo. 💸 This transaction was made from a wallet belonging to BitGo, the fifth and final exchange to distribute to Mt. Gox’s creditors.

The transfer has brought the price of Bitcoin above $60,300. Mt. Gox still has 46,164 BTC left, which could cause market volatility. 📊

The liquidity crisis in the crypto market is growing! 📉 According to Kaiko's research, the fragmentation of liquidity between exchanges leads to price differences. Binance.US, in particular, has been experiencing a liquidity shortage since the SEC case, which increases price slippage.

For example, Zaif's BTC-JPY pair experienced the highest slippage after the Bank of Japan's interest rate hike. This situation once again shows how critical liquidity is. 💡

Intensive transactions during the week and weekend uncertainty also deepen the liquidity crisis. However, crypto platforms are trying to overcome these challenges with infrastructure investments.

Ripple’s XRP has surpassed a major milestone in the number of tokens held in accounts! 🎉 According to XRPL Services, the total amount of XRP held in accounts has surpassed 60 billion. This is worth over $34 billion at current prices.

Last week, after the verdict in the lawsuit between Ripple and the US SEC, the price of XRP briefly rose by 20% to $0.64. However, it has now stabilized at $0.57.

Analysts are optimistic about future price increases for XRP. Some predict that the token could reach $2 if it breaks the 200-day weighted moving average. 🚀

Shiba Inu investors beware! Scammers are at work on Telegram with fake airdrop offers. 🛑 Shibarmy, do not connect your wallets to such sites, they can drain your content. Also, TREAT token has not been released yet, do not fall for scammers. Stay safe and keep your eyes open! 👀

Ethereum has benefited the most from the recent market decline! 📈 Investors saw price weakness as a buying opportunity, and $155 million flowed into Ethereum last week. According to CoinShares, total inflows this year reached $862 million.

Not only Ethereum, Bitcoin also closed the week with $13 million inflows. Solana, XRP, and Cardano also received $4.5 million, $0.7 million, and $0.6 million inflows, respectively.

Globally, $176 million flowed into digital asset investment products. This shows that investors see price declines as buying opportunities. ETP trading volume also increased to $19 billion on the week.

Large inflows from the US, Switzerland, Brazil, and Canada boosted global optimism. However, the US still lost $306 million in monthly net outflows. 🌍

BitGo is partnering with Hong Kong-based BiT Global for its Wrapped Bitcoin (WBTC) business! 🌍 The move aims to increase security with a multi-jurisdictional and institutional structure. However, the involvement of Tron founder Justin Sun has raised concerns in the crypto community. BitGo CEO Mike Belshe stated that Sun would not be able to move funds alone. MakerDAO may delist WBTC due to security concerns. 🔍

According to CryptoQuant analyst Shayan, Ether (ETH) could soon see a rally! 📈 ETH futures market metrics suggest that price rallies could follow a major liquidation event.

ETH lost 34% of its value earlier this month, falling to $2,197. However, it recovered to $2,500 thanks to buying pressure in the $2,100 region. It is currently trading at $2,623.

The cooling down in the futures market and increasing spot buying pressure could help ETH regain traction and stabilize the market. Shayan says that this could trigger a new bull wave in the long term.

ETH’s strong buying interest at the $2,100 support level reflects confidence in its long-term potential. However, the $2,800 resistance level could hinder the upside movement and pose a risk of a pullback to $2,000. 🚀

Toronto-based Bitcoin mining company Bitfarms reported a 16% decrease in revenue to $42 million in Q2 2024. The decrease is attributed to the BTC halving event on April 19, 2024. 📉

The company reported a net loss of $27 million, a loss of $0.07 per share. Production costs increased, and cash costs per BTC rose to $47,300. Bitcoin earnings increased by 34% in July to 243 BTC. 🚀

Global crypto trading volume on centralized exchanges increased by 19% in July, reaching $4.94 trillion! 🚀 According to CCData, this increase was driven by the launch of spot Ethereum ETFs in the US and the positive attitude of local politicians at the Bitcoin conference in Nashville.

Spot trading volume increased by 14.3% to $1.44 trillion, while derivatives trading volume increased by 21% to $3.50 trillion. Bybit increased its spot trading volume by 23% to $132 billion, increasing its market share to 9.18%.

Binance maintained its leadership with a 28.1% market share, but fell by 4.9% compared to last month. In the derivatives market, Binance led with a 43.5% market share. Volatility increased in early August, with the highest daily spot trading volume since May 2021. 📈

87% of Tron (TRX) investors are in profit! 🚀 Cardano (ADA) is the opposite, most investors are in loss. Bitcoin (BTC) is also among the leaders; 85% are in profit. The volatility in the crypto market affected investors differently. While prices fell at the beginning of the week, there was a recovery later. Dogecoin (DOGE) and Ethereum (ETH) are also among those in profit. However, the situation is not very encouraging for Shiba Inu (SHIB) and Cardano (ADA) investors.

Binance Labs has announced an investment in Solana-based restaking network Solayer! 🎉 This new capital will help Solayer grow its team, add additional protocols, and play a significant role on the Solana blockchain.

Solayer will explore Solana’s restaking infrastructure to reduce network congestion. It will also soon launch its full system that will allow users to secure Solana with SOL. 🚀

Yi He stated that Binance Labs is excited to invest in Solayer. He said that with this support, they are one step closer to their vision of strengthening the Solana ecosystem.

Solayer aims to expand Solana’s security to other decentralized systems and dApps. Users can decentralize Solana by staking their assets and earn local returns with MEV-boost.

Just 60 days after its launch, Solayer became the 13th largest protocol on Solana and has amassed over $150 million in TVL.

Bitcoin found strong buyers at $50K support and rebounded! 🚀 However, it approached the 200-day moving average resistance zone at $61K. The direction of the price at this critical point is uncertain. If rejected, a pullback to $50K is possible. However, if there is a sudden breakout, the rise could continue. The market should be watched carefully! 📊

Ethereum, after a 37% drop, encountered strong buying activity at the $2.1K support area, which resulted in a rally. 📈 However, the current price action suggests that ETH could complete a pullback towards the $2.8K level, indicating that the downtrend may continue.

Technical analysis indicates that the $2.8K level is a significant resistance and the price could bounce back from this area. If this happens, Ethereum’s next target could be the $2K support level.

Data in the futures market suggests that the price could recover after the large liquidations. If demand returns, Ethereum could experience a new wave of upside in the long term. 🚀

Santiment has announced the most active digital assets of the last 30 days! 🚀 Internet Computer (ICP) is in first place, followed by Hedera (HBAR) and Cardano (ADA). Ethereum (ETH) attracts attention with its new spot ETH ETFs in the US.

The list also includes popular cryptocurrencies such as Chainlink (LINK), Polkadot (DOT) and Cosmos (ATOM). This movement in the market may present interesting opportunities for investors.

Binance Recovered or Froze Over $73 Million in User Funds Stolen from External Attacks in 2024! 🎉 This figure exceeds $55 million in 2023. Binance aims to minimize user victimization by collaborating with the public sector.

This achievement demonstrates the effectiveness of Binance’s security measures and the transparency of its blockchain technology. The crypto crime rate dropped to 0.34% in 2023. 🚀

Bitcoin price action calmed over the weekend, with the asset holding steady at just above $61,000. 🪙

Altcoins are mostly in the green, with BNB and DOGE being the best performers from large caps. DOGE rose 5% to $0.11, while BNB rose 4% to above $530.

BTC’s market cap is over $1.2 trillion, but its dominance over altcoins is under 54%. The total crypto market cap has risen to $2.245 trillion.

Ripple aims to boost blockchain and crypto innovation in the UAE by partnering with the Dubai International Financial Centre (DIFC). The partnership strengthens DIFC’s role as a global talent and technology hub. 🌍

Ripple CEO Brad Garlinghouse said the UAE is one of the most advanced regions offering regulatory clarity for crypto services. XRP’s price has recovered from the recent drop, approaching $0.6. 📈