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Bitcoin reserves on exchanges have fallen to their lowest levels in recent years. This situation indicates significant changes in the supply-demand dynamics of #Bitcoin , potentially setting the stage for price increases.

#newsdaily #BTC☀

!!!! IMPORTANT NEWS !!!!

Washington, D.C. – Senator Cynthia Lummis (R-WY) has introduced legislation to establish a strategic Bitcoin reserve to strengthen the US financial position and help reduce national debt. Named the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, this proposal outlines a plan to incorporate Bitcoin into the nation's financial reserves.
"As families across Wyoming and the entire nation struggle with soaring inflation and unprecedented national debt levels, we must take bold steps to secure a brighter future," said Senator Lummis. "Bitcoin is transforming our financial landscape. Becoming the first developed nation to use Bitcoin as a strategic reserve asset will solidify our position as a global leader in financial innovation. This is our Louisiana Purchase moment for the next financial frontier."
The BITCOIN Act includes several key provisions:
Creation of Secure Bitcoin Vaults: Managed by the United States Department of Treasury, these vaults will ensure high levels of physical and cybersecurity for the nation’s Bitcoin holdings.Bitcoin Purchase Program: The legislation proposes a purchase program to acquire 1 million Bitcoins, approximately 5% of the total Bitcoin supply, mirroring the scope and significance of the US gold reserves.Funding Mechanism: The acquisition will be funded by diversifying existing funds within the Federal Reserve System and the Treasury Department.Protection of Private Bitcoin Holders: The bill affirms the rights of private Bitcoin holders to self-custody their assets, ensuring that the strategic reserve does not infringe upon individual financial freedoms.
The introduction of this bill has garnered significant support, with over 2,200 letters sent to US senators within 48 hours, urging them to co-sponsor and back the proposal. This broad support indicates bipartisan interest in Bitcoin's potential strategic value.

#NewsAboutCrypto #newsdaily #Bitcoin❗

Reasons for Bitcoin's Recent Decline
Macroeconomic Factors:
Federal Reserve's Interest Rate Policy:
The U.S. Federal Reserve's interest rate hikes can negatively impact crypto markets. Higher interest rates often drive investors towards less risky assets.
Economic Uncertainty:
Global economic uncertainties, especially the potential for recessions in major economies like the U.S., can shake investor confidence and lead to market volatility.
Middle East Tensions:
Geopolitical tensions in the Middle East, including conflicts and economic sanctions, create uncertainty in global markets. This influences investor behavior, causing volatility in the cryptocurrency market.
Market Dynamics:
Large Sales:
Significant sales of Bitcoin by major investors, known as "whales," can cause substantial price drops. These large transactions can heavily influence market prices.
Liquidity Issues:
Reduced liquidity in the market can lead to larger price swings. When liquidity is low, buy and sell orders can move the price more dramatically.
Technical Analysis:
Fibonacci Retracement:
Fibonacci retracement levels are often used to analyze Bitcoin's price movements. For instance, the 61.8% retracement level is seen as a strong support or resistance point. If Bitcoin tests and breaks this level, further declines may be expected.
Moving Averages:
The 50-day and 200-day moving averages are critical technical indicators. Bitcoin falling below these averages typically signals a continuation of the bearish trend.Golden Cross and Death Cross: When the 50-day moving average crosses above the 200-day moving average, it's known as a "Golden Cross" and is considered a bullish signal. Conversely, when the 50-day moving average crosses below the 200-day moving average, it's termed a "Death Cross" and is seen as a bearish signal.
RSI (Relative Strength Index):
RSI indicates whether an asset is overbought or oversold. An RSI below 30 suggests that Bitcoin is oversold and may see a rebound. An RSI above 70 indicates overbought conditions and a potential price correction.

#newsdaily #Bitcoin❗ #ANALYSIS

MicroStrategy's Second Quarter Report:

MicroStrategy reported a net loss of $123 million in its second-quarter report. The impact of the company's BTC purchases and this loss announcement on $BTC prices is being closely watched.

#newsdaily #MicroStrategу #Bitcoin❗

Terra Classic ($LUNC ) Burn: Binance Burns 1.15 Billion Tokens

Binance has burned 1.15 billion Terra Classic (LUNC) tokens. This significant burn aims to reduce the LUNC supply and increase the token's value.

#newsdaily #LUNC✅

Market Liquidation: XRP, DOGE, and PEPE

$XRP , $DOGE , and $PEPE , along with many other altcoins, have experienced over $289 million in liquidations in the last 24 hours. These liquidations have created significant selling pressure on the market.

#newsdaily #meme_coin #Xrp🔥🔥

Starknet Security Alert

Starknet Issues Security Alert

Starknet has issued an important security alert to its users, warning that its Discord servers are at risk. Users are advised to avoid clicking on suspicious links due to the recent increase in phishing attacks and fraud attempts. This alert aims to protect users from potential security breaches.
Threats on Discord Servers
Malicious actors have been identified sending fake links and messages on Starknet's Discord servers. These links are used to steal user account information or install malware on their devices. Starknet has informed users of these threats and advised them to take necessary precautions.
Phishing Attacks and Fraud Attempts
Phishing attacks aim to steal users' personal and financial information. Starknet's warning highlights the importance of being cautious and avoiding suspicious links to protect against such attacks. In the cryptocurrency world, these attacks can result in significant financial losses.
Precautions for Users
Avoid Suspicious Links: Users should avoid clicking on links from unknown sources.Enable Two-Factor Authentication (2FA): Using 2FA can enhance account security.Obtain Information from Trusted Sources: Users should rely on information from official and trusted sources only.Use Security Software: Installing antivirus and security software on devices can protect against malware.
Starknet's Measures
Starknet has announced that it will implement additional security measures to protect its users. These measures include stricter monitoring of Discord servers and user education. The Starknet team also encourages users to report any suspicious activities.
Future Expectations
Starknet's security alert has resonated widely within the crypto community. Experts believe that such alerts and precautions will enhance user security and help prevent similar attacks in the future. Starknet's proactive approach may also serve as a model for other crypto projects.

#newsdaily #security #Discord #starknet

MicroStrategy's Bitcoin Holdings

MicroStrategy's Bitcoin Assets
#MicroStrategy has announced that it holds 226,500 Bitcoins, making it one of the largest corporate Bitcoin holders in the world. This substantial Bitcoin stock reflects the company's significant position in the cryptocurrency market and its strategic investment policy. MicroStrategy's CEO, Michael Saylor, views Bitcoin as digital gold and considers it a part of the company's long-term growth strategy.
Second Quarter Revenues
The company reported a 7.4% decline in revenues for the second quarter of 2024. Despite this decrease, MicroStrategy's financial position remains strong due to its substantial Bitcoin holdings. The value of the company's total Bitcoin assets fluctuates significantly based on Bitcoin price movements, but the company continues to hold these assets as part of its long-term strategy.
Bitcoin Strategy
Since 2020, MicroStrategy has been regularly purchasing Bitcoin and remains committed to this strategy. The company has adopted Bitcoin as its primary reserve asset, preferring to invest in digital assets over traditional cash reserves. This strategy aims to increase the company's liquidity and provide a hedge against inflation.
Market and Investor Reactions
MicroStrategy's Bitcoin holdings have made the company a focal point among investors. The company's commitment to Bitcoin has a significant impact on the cryptocurrency market and encourages other institutional investors to adopt similar strategies. However, Bitcoin price volatility directly affects the company's financial performance, posing a risk factor that investors need to consider.
Future Expectations
Experts predict that MicroStrategy's Bitcoin strategy could be successful in the long term. The value of the company's Bitcoin assets may increase based on the overall performance of the cryptocurrency market. Additionally, if other major companies adopt similar strategies, it could enhance Bitcoin's institutional adoption and positively influence its market value.

#newsdaily #BTC☀

Ethereum Spot ETF Inflows

Increase in Ethereum Spot ETF Inflows
$ETH spot ETFs have recorded net inflows despite significant outflows from Grayscale. Notably, investments in BlackRock's Ethereum fund have surged, with total net inflows amounting to $26.7 million as of August 1, 2024. This development indicates strong investor confidence and interest in Ethereum.
Grayscale Outflows and Market Dynamics
Despite the substantial withdrawals from the Grayscale Ethereum Trust, interest in other spot ETFs remains robust. Grayscale has seen significant Ethereum outflows over the past few months, but this has not deterred demand for other ETFs. Investments from major financial institutions like BlackRock in Ethereum spot ETFs reflect confidence in the long-term potential of this asset.
Interest in BlackRock's Ethereum ETF
The interest in BlackRock's Ethereum fund is particularly noteworthy. Investors are pouring large amounts into this fund, viewing it as a secure and regulated investment vehicle. BlackRock's financial strength and market reputation are key factors driving investor interest in these funds.
Market and Investor Confidence
These net inflows signify strong confidence in Ethereum's future performance. The interest in spot ETFs suggests that investors prefer regulated and secure investment vehicles over directly purchasing Ethereum. This trend enhances Ethereum's liquidity and acceptance in the market.
Future Expectations
Experts anticipate continued interest in Ethereum spot ETFs. Investments from BlackRock and other major financial institutions support the long-term potential of Ethereum. Additionally, decreasing regulatory uncertainties and positive market dynamics could further boost demand for Ethereum spot ETFs.

#NewsAboutCrypto #newsdaily #eth #BlackRock⁩ #GRAYSCALE

News: Manchester United's Web3 Fantasy Football Game

Manchester United's New Initiative

Manchester United has launched the Premier League's first Web3 fantasy football game, "Fantasy United," on the Tezos blockchain. This game represents a significant step for Manchester United in the digital world and blockchain technology. The #tezos blockchain is known for its security and scalability, making it an ideal platform for this project.
Game Features
Blockchain Integration: Fantasy United operates on the Tezos blockchain, providing players with full ownership of digital assets. This ensures that the cards and other digital assets players own are securely protected.Player Cards: Users can collect and trade digital cards of Manchester United players. These cards gain or lose value based on real-world performances.Tournaments and Leagues: Players can create their fantasy teams and participate in various tournaments and leagues. These events test users' strategic thinking and team management skills.Rewards and Incentives: Players can earn various rewards through successful performances. These rewards can be in the form of in-game assets or real-world prizes.
Integration of Blockchain in Sports
Fantasy United is a notable example of integrating blockchain technology into the sports world. Projects like this are transforming how sports teams and organizations interact with their fans. Additionally, it showcases how digital assets and #NFTs (Non-Fungible Tokens) can be utilized in the sports industry.
Future Expectations
Manchester United's move could set a precedent for other sports teams and leagues. The broader adoption of blockchain technology in the sports world can enhance fan experiences and create new revenue models. Furthermore, projects like this demonstrate how the sports and technology worlds can intersect and evolve together.

#newsdaily #GameFi #NewsAboutCrypto

DeFi is Reviving

Revival in the DeFi Sector
A significant revival is being observed in the decentralized finance (#DeFi ) sector recently. As of July 2024, the amount of active loans on DeFi platforms has reached $13.3 billion, returning to levels seen in early 2022. This development indicates increased activity and growth in the sector, even though DeFi tokens are still trading at bear market levels.
Increase in Active Loan Amounts in DeFi
The amount of active loans on DeFi platforms has seen a notable increase in recent months. This growth has been supported by the launch of new projects and the expansion of existing ones. Users have started engaging more in borrowing and lending activities on DeFi platforms, which has increased the liquidity of these platforms and improved the overall health of the ecosystem.
Status of DeFi Tokens
Most DeFi tokens are still trading at bear market levels. However, this revival in the DeFi ecosystem could gradually help token prices recover and boost investor confidence. Despite the low token prices, the increase in transactions and active loans on the platforms suggests a potential long-term recovery in prices.
Expectations for the Future
Experts expect this revival in the DeFi sector to continue. New projects and innovations could increase user interest in DeFi platforms and contribute to further growth of the ecosystem. Additionally, clearer regulations and enhanced security measures could increase confidence in the sector, encouraging more users to prefer DeFi platforms.

#NewsAboutCrypto #newsdaily #DEFİ

Ripple CEO Brad Garlinghouse Criticizes SEC
Brad Garlinghouse's Statements

#Ripple CEO Brad Garlinghouse has accused the U.S. Securities and Exchange Commission (SEC) of "hypocrisy" and complicated regulations. Garlinghouse criticized the SEC's inconsistent and ambiguous policies regarding digital assets, stating that these issues have negative impacts on the cryptocurrency market. Garlinghouse's criticisms came immediately after Ripple announced its new stablecoin initiative, highlighting the ongoing disputes between the company and the SEC.
Ripple's New Stablecoin Initiative
Ripple has announced the launch of a new stablecoin project. This project will be 100% backed by U.S. dollar deposits, short-term U.S. government treasuries, and other cash equivalents. Ripple aims to reach a broader user base and revolutionize digital payment systems with this stablecoin. However, the SEC's current regulations and constantly changing policies pose significant barriers to such innovative projects.
Reasons Behind Garlinghouse's Criticisms
Inconsistent Regulations: Garlinghouse argues that the SEC's stance on cryptocurrencies is inconsistent, creating uncertainty for market participants.
Complicated Regulations: The complexity of the SEC's regulations makes it difficult for crypto companies to comply, hindering innovative projects.
Market Impacts: Such uncertainties undermine investor confidence and cause volatility in the cryptocurrency market.
Expectations for the Future
Garlinghouse emphasizes the need for the SEC to adopt clearer and more consistent regulations. He believes that this would enable the cryptocurrency ecosystem to grow in a healthier and more sustainable manner. Additionally, he highlights the importance of international regulatory cooperation to establish global standards.

#newsdaily #NewsAboutCrypto #Xrp🔥🔥

Rumors of Cryptocurrency Integration in GTA 6

The upcoming installment of the Grand Theft Auto series, GTA 6, developed by Rockstar Games, has sparked rumors regarding the integration of cryptocurrency. It is speculated that the game may offer players crypto rewards and allow for in-game cryptocurrency transactions.
Crypto Rewards and $RSTAR Rumor
There are circulating rumors that players completing missions in GTA 6 could be rewarded with cryptocurrency. These rewards might come from anonymous billionaires within the game, and the cryptocurrency could be named $RSTAR. Players might be able to use this in-game cryptocurrency for purchases and potentially trade it for real-world cryptocurrencies.
Potential NFT Integration
Rockstar Games might join other major game developers by investing in blockchain and web3 technologies, incorporating NFTs into GTA 6. This could add a new dimension to the game, allowing players full ownership of digital assets.
Stock Market System and Crypto Trading
Similar to GTA 5, GTA 6 might feature a stock market system where players can trade different cryptocurrencies. This inclusion would provide a more realistic and modern gaming experience.
However, these details have not been officially confirmed. Neither Rockstar Games nor its parent company, Take-Two Interactive, have made any statements regarding cryptocurrency integration. GTA 6 is expected to be released in 2025, and concrete information about these features will only be known upon its release.

#newsdaily #gta6 #GameFi #NFT​

Router Protocol Mainnet Launch:

Router Protocol, backed by Coinbase Ventures, has launched its Layer-1 solution Router Chain mainnet. This development aims to enhance decentralized blockchain interoperability and strengthen the DeFi ecosystem

#NewsAboutCrypto #newsdaily #layer1

Kamala Harris and Crypto:

Top Democratic donors are urging Vice President Kamala Harris to speak at a major U.S. crypto conference, highlighting the growing political interest and influence in the #cryptocurrency sector

#newsdaily #NewsAboutCrypto #usa

Ethereum and Bitcoin ETFs Diverge:

In the wake of a market correction, Bitcoin and Ethereum ETFs in the U.S. have shown different performance trends. This divergence emphasizes the varying investor confidence and market dynamics affecting these major cryptocurrencies

#ETH🔥🔥🔥🔥 #BTC☀ #newsdaily #ETFEthereum #ETFvsBTC