According to Blockworks, BlackRock, the world's largest asset manager, is set to further its involvement in the tokenization sector. This follows its lead in a $47 million funding round for Securitize, a firm specializing in the tokenization of physical and traditional financial assets. The two companies have previously collaborated, with BlackRock launching its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund, in March. This fund offers an alternative method for earning US dollar yields and is available to qualified investors via Securitize Markets.

Tokenization has been gaining traction among fintech firms and traditional finance giants, who note that blockchain technology can enhance transparency and reduce costs. BlackRock's CEO, Larry Fink, has referred to tokenized securities as 'the next generation for markets.' Joseph Chalom, BlackRock’s global head of strategic ecosystem partnerships, echoed this sentiment, stating that tokenization could significantly transform capital markets infrastructure. Chalom, who has now joined Securitize's board of directors, described the investment in Securitize as a step forward in BlackRock's digital assets strategy.

Other participants in the funding round included Hamilton Lane, ParaFi Capital, and Tradeweb Markets. Hamilton Lane, a private markets investment firm, had earlier in January 2023 made one of its equity funds available through a Securitize feeder fund tokenized on Polygon.

Ripple CEO Brad Garlinghouse is scheduled to participate in a roundtable meeting hosted by U.S. Representative Ro Khanna. This engagement is viewed by the crypto community as “too little, too late.”
The meeting will bring together crypto industry leaders and executives, likely to discuss digital asset policies in the United States. This roundtable takes place in the context of the ongoing U.S. election, with former President Donald Trump and President Joe Biden competing for the presidency.
Ro Khanna Hosts Key Crypto Roundtable
U.S. Representative Ro Khanna (D-CA) will host a roundtable meeting featuring notable figures from the crypto industry. Ripple CEO Brad Garlinghouse and billionaire investor Mark Cuban, a significant stakeholder in Polygon (MATIC), are set to attend.

Source: Twitter – X
The meeting will also include SkyBridge Capital founder and CEO Anthony Scaramucci and former CFTC Chairman Chris Giancarlo, who now serves on the Board of Paxos.
Fox Business’s Eleanor Terrett first reported the meeting in early July, though the participants were not confirmed at that time. Some attendees initially claimed to be unaware of the meeting, and no official list was provided. With Election Day on November 5th, this Democratic meeting could have important implications for the crypto space.
Biden Administration’s Crypto Stance Faces Backlash
The Biden administration has taken a tough stance on the digital asset sector, pursuing enforcement actions against crypto firms that have led to fines and pushed some companies out of the U.S. This approach has sparked criticism from within the crypto community, with some users on X (formerly Twitter) declaring that it is “too late” for Biden to mend relations with the sector.
The administration’s actions have included President Biden’s veto of Staff Accounting Bulletin No. 121 (SAB 121), which aimed to reverse the SEC’s rule requiring publicly traded banks to list crypto assets on their balance sheets. This veto has been described by some as the final “nail in the coffin” for Biden’s relationship with the crypto industry. In response, the House is preparing to challenge Biden, with a second round of voting scheduled for Wednesday.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#XRP #Ripple #SEC #Blackrock #Bitcoin $XRP $BTC $BNB

EGRAG, a prominent figure in the XRP community, has outlined how XRP might reach $17 in the coming months, highlighting crucial indicators that could confirm this bold prediction.
In a recent post on X, EGRAG updated his prediction series titled “The Bent Fork,” which he initially launched in June 2023. Originally setting a target of $15 for XRP, EGRAG has since revised this figure to $17 based on further analysis.
EGRAG Outlines Path for XRP to Reach $17 with Key Indicators
In his latest commentary, analyst EGRAG highlighted five factors that could signal the beginning of XRP’s journey to $17.

Source: X
EGRAG emphasized the importance of XRP reclaiming the $0.4 region. After initially falling below this level on July 5, XRP has partially recovered. In the past 24 hours, it nearly dropped back to $0.39, hitting an intraday low of $0.4047. Currently, XRP is trading at $0.44, reflecting a 2% gain today.
During this minor recovery, EGRAG pointed out that surpassing the $0.75 threshold is crucial to confirming the early stages of XRP’s bull run. He noted that closing above $0.75 would pave the way for XRP to aim for a new all-time high (ATH).
In mid-March, XRP experienced a notable 20% surge to $0.74 amid a generally positive market environment in Q1. This rally was widely praised and even garnered a bullish outlook from Ripple’s CEO, Brad Garlinghouse. However, the rally was short-lived, and XRP began a downtrend from which it has not fully recovered.
To meet EGRAG’s requirement for confirming a trajectory toward an ATH, XRP now faces a significant challenge: a 70% bullish rally.
EGRAG Identifies Key Levels for XRP to Reach $17
EGRAG noted that the $1 mark represents both a structural barrier and a psychological obstacle for XRP’s anticipated rise. Once this level is surpassed, the next critical target is $1.8, which EGRAG describes as an equilibrium point.
If XRP meets these criteria, EGRAG believes that the XRP Army could expect a dramatic surge, potentially driving the token up by 3,763% to reach $17.
Another important indicator for EGRAG is XRP surpassing its six-year-old all-time high. He suggests that breaking the $3.5 level could be a pivotal moment, describing it as potentially opening “the gates to Valhalla” and setting the stage for significant success

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#XRP #Ripple #Bitcoin #Blackrock #EthereumETF $XRP $BTC $SOL

The crypto market is steadily recovering, with altcoins showing bullish potential. Polkadot (DOT) is among these altcoins, currently positioning itself for a possible bullish breakout. The key question now is whether DOT will surge through its critical retest zone or face another decline.
The crypto market is steadily recovering, with Bitcoin (BTC) holding above $58,000. As Bitcoin continues to rise, many altcoins are also showing strong signs of bullish trends.
Polkadot (DOT) Shows Promising Bullish Signals
The crypto market is witnessing a steady recovery, with several altcoins displaying bullish trends. While some altcoins have been showing positive signals for months, others have recently gained attention due to new project announcements. Notable altcoins experiencing bullish momentum include Cardano (ADA), JasmyCoin (JASMY), VeChain (VET), WadzPay (WTK), and more.
Among these, Polkadot (DOT) is particularly noteworthy today. TradingView charts indicate that DOT is displaying bullish characteristics. Historically, Polkadot has been a strong performer during bullish cycles and has shown significant resilience during recent market corrections.
Currently, Polkadot is following a falling wedge pattern and is approaching a critical test of the upper resistance of this pattern. If DOT successfully breaks out from this formation, it could signal a bullish trend. Analysts are optimistic, suggesting that a breakout followed by a successful retest would confirm a positive shift in DOT’s price trajectory.
Polkadot (DOT) Price Analysis: Key Support Levels and Potential Risks
The analyst further explains that if Polkadot’s (DOT) price falls back into the falling wedge pattern, it will likely retest its support at $4.850. This level is crucial for assessing DOT’s strength, and failure to maintain this support could indicate a potential decline.
Additionally, the analyst notes that if the broader market sentiment turns bearish and significant selling pressure arises, DOT might revisit its liquidity-rich support zone between $4.0 and $3.7. This area is important because it has historically provided strong support, and its behavior could be pivotal for DOT’s medium-term price stability.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Dot #Polkadot #Blackrock #EthereumETF #Uniswap $DOT $BTC $USDC

Despite prevailing market fears, BlackRock’s IBIT Bitcoin ETF has added over 5,000 BTC in the past two days, leveraging the recent dip in Bitcoin prices and demonstrating strong investor interest.
This substantial acquisition has resulted in more than $300 million in inflows into BlackRock’s IBIT, potentially signaling the beginning of a new BTC bull run.

Significant Inflows and Market Movements Boost Bitcoin’s Outlook
On July 9, BlackRock’s IBIT Bitcoin ETF experienced a 2.49% increase, recovering from last month’s sell-off. In contrast, Grayscale’s GBTC faced outflows of $37 million on the same day. Despite ongoing market pressures from events like Mt. Gox repayments and German government actions, institutional investors see the current conditions as a buying opportunity. Historically, July has a median return of 9% for the crypto market, and traders remain hopeful for a continuation of this bullish trend.
Amidst these market dynamics, US spot Bitcoin ETFs have recorded notable inflows, totaling $214 million. BlackRock’s IBIT has led this surge, with $121 million in inflows and 2,134 BTC added in a single day. The previous day saw $187 million in inflows, with over 3,300 BTC acquired as prices fell to $53,500. This represents the highest three-week inflow for US Bitcoin ETFs to date. Fidelity’s FBTC also saw significant net inflows of $90.95 million, while Grayscale’s GBTC recorded outflows of $37.5 million.
Despite a 10.92% correction in the previous week, Bitcoin rebounded with a 5.91% increase over three days, currently trading at $59,195. The total net inflow for Bitcoin ETFs now stands at $15.27 billion, accounting for 4.45% of Bitcoin’s market cap. This uptick suggests renewed investor confidence and hints at the potential for a Bitcoin bull run.

Bitcoin ETFs Recover as Institutional Interest Grows
Following a recent drop in Bitcoin prices to a four-month low, Bitcoin ETF shares have been rebounding, gaining 2-5% over the past two days. On Tuesday, IBIT shares surged by 2.49%, reaching a price of $32.96. Although IBIT shares are trading at a 17% discount for the month, they have achieved a notable 23.77% gain year-to-date. Other spot BTC ETFs in the US have shown similar recovery trends in their share prices.
The cumulative net inflow for Bitcoin ETFs has now reached $15 billion, reflecting strong institutional interest and providing potential support for Bitcoin’s value amidst ongoing market volatility. This increased institutional activity suggests a positive outlook for Bitcoin, despite recent price fluctuations.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Blackrock #Blackrock #EthereumETF #Uniswap #Germany $BTC $ETH $USDC

Celestia’s token has broken out of its downward trend and rebounded to $7.16, signaling a possible rally. Trading above the 20 EMA, it could hit $8.07 if it surpasses the 50 EMA resistance at $7.51.
Five months ago, Celestia (TAI) hit an all-time high of $20.09 but then fell by 65.37%. Since July 9, the price has begun to recover significantly, with a 17.36% increase in the last 24 hours. Now trading at $7.16, it looks like the cryptocurrency could continue to rise.

Celestia (TIA) Shows Potential for Upside After Recent Downturn
Celestia’s token, which saw its lowest price since November 2023 at $4.78 on July 5, has recently emerged as the highest gainer of the day. At that low, the token was down 80% from its all-time high (ATH).
The daily TIA/USD chart reveals that this prolonged decline formed a descending channel, a bearish pattern characterized by lower highs and lower lows. This pattern indicates a downtrend with periods of consolidation.

Celestia Price Analysis. Source: TradingView
During this decline, bulls created a demand zone between $5.06 and $6.09, which has now supported a rebound. If this upward momentum continues, Celestia might see further price increases.
Trader Satoshi Flipper noted that the extended consolidation period could lead to significant price gains. He suggested that breaking out of the 8-month consolidation channel at $8.50 could trigger substantial upward movement, with longer consolidations often leading to stronger price pumps.

Celestia Weighted Sentiment. Source: Santiment
On the on-chain front, Santiment data shows an improvement in sentiment for Celestia. The Weighted Sentiment metric, which measures online comments about a project, has risen from -0.633 on July 7 to 2.745. This positive shift indicates that optimistic mentions of the token now outweigh negative ones, potentially boosting demand for Celestia.

Celestia (TIA) Technical Analysis and Future Outlook
An analysis of Celestia’s daily chart reveals that the token has recently risen above the 20-day Exponential Moving Average (EMA), signaling a bullish trend. The EMA, which measures trend direction over time, indicates that the trend is positive when the price is above it. As long as TIA remains above this EMA, the price is likely to continue its upward movement.

Celestia Daily Analysis. Source: TradingView
Additionally, TIA is approaching a critical point where it could break above the 50-day EMA, currently at $7.51. A successful breach of this resistance could see the token target $8.07. The Relative Strength Index (RSI), which measures momentum by assessing the speed and size of price changes, stands at 53.07. Since the RSI is above 50, it indicates bullish momentum. If the RSI continues to rise, TIA’s price may follow suit, with potential short-term targets between $8.07 and $9.16.
Beyond technical indicators, the upcoming Modular Summit on July 11 could further support TIA’s price uptrend. However, this positive outlook could be overturned if market sentiment turns bearish or if profit-taking occurs. A failure to surpass the 50 EMA could also lead to a decline, with TIA’s price potentially dropping toward $6.00.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Celestia #TIA #Germany

#EthereumETF #Blackrock $TIA $BTC $ADA

An Ethereum whale has transferred 16,449 ETH (valued at $50.3 million) from Binance, causing a stir in the market. This significant move occurred as ETH surpassed the $3,000 mark.
According to Spot on Chain, this is the first time the whale has moved such a large amount of ETH to a different wallet, sparking discussions about potential implications for Ethereum.
Ethereum Whale Transfer Sparks ETF Speculation
The crypto market was set abuzz when an Ethereum whale undertook a substantial transfer of 16,449 ETH from Binance, summing up to approximately $50.3 million. The transaction came shortly after ETH’s price climbed above $3,000, stirring both excitement and apprehension among investors.
This considerable ETH transfer coincides with the anticipation surrounding the listing of spot Ether ETFs in the United States. Industry watchers are keenly observing whether this move signals a bullish sentiment as institutional interest in Ethereum seems poised to surge. Spot On Chain notes this transfer as a potentially pivotal moment, questioning whether it marks a bullish trend for ETH.
With the anticipated release of spot ETH funds, expectations are high for increased institutional investment in Ethereum. The price of ETH saw a notable rise of over 10% to $3,113 on July 9, a significant rebound from a previous dip to around $2,830. CoinShares’ weekly report further bolstered this sentiment, revealing a substantial inflow of $10.2 million into ETH-linked investment funds for the week ending July 5.
Surge in Spot Ether ETF Filings Amid Major Ethereum Whale Transfer
Asset management firms, including VanEck and 21Shares, have updated their filings with the U.S. Securities and Exchange Commission (SEC) to list spot Ether ETFs. Notably, VanEck and 21Shares amended their applications on July 8, reflecting a concerted push towards securing approval. While precise listing dates remain unspecified, the listings are expected to proceed promptly once regulatory clearances are obtained.
The race to introduce spot ETH ETFs is intensifying, with notable players such as Invesco and Galaxy also entering the competition. On July 9, Invesco and Galaxy set a management fee of 0.25% for their proposed Invesco Galaxy Ethereum ETF, highlighting the competitive dynamics at play.
The crypto market is witnessing significant developments with the massive ETH transfer by a whale and the impending launch of spot Ether ETFs. These movements underscore the growing institutional interest in Ethereum and could herald a bullish phase for ETH. As always, investors should stay informed and conduct thorough research before making any financial decisions

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#EthereumETF #EthereumETF #ethetf #Ethereum #Blackrock $ETH $BTC $XRP

Bitcoin price surges towards $60K following Fed Chairman Powell’s remarks on inflation. During his testimony before the Senate Banking Committee, Powell emphasized the need for a balanced approach to monetary policy. As a result, Bitcoin has risen to around $59,140, up from an earlier low of $57,014.
Bitcoin is getting close to $60,000 as it benefits from U.S. Federal Reserve Chairman Jerome Powell’s careful approach to controlling inflation. This comes just before the important U.S. Consumer Price Index (CPI) inflation data is released on Thursday.

Powell’s Balanced Approach to Inflation Boosts Bitcoin’s Ascent
In his testimony before the Senate Banking Committee on Tuesday, Federal Reserve Chairman Jerome Powell emphasized the need for a balanced approach to monetary policy, resisting calls for immediate interest rate cuts. He reiterated the importance of achieving a stable 2% inflation target, underscoring the need for more convincing data before making any adjustments.
Powell highlighted the risks associated with inflation, stating that policymakers must avoid easing up too soon or too much, as well as too little too late. He noted that reducing policy restraint too late or too little could unduly weaken economic activity and employment, citing significant cooling in the labor market and the Fed’s awareness of downside risks.
The Fed chairman’s cautious stance on interest rates is prompting investors to reevaluate their investment strategies, favoring assets uncorrelated to central bank decisions. As a result, Bitcoin has experienced substantial 24-hour price growth, hovering around $59,140 at press time, up from an earlier low of $57,014.
Market Stability as Attention Turns to Upcoming CPI Report
Major U.S. stock indexes in traditional markets were mostly unchanged on Tuesday, while the dollar and bond yields edged slightly higher.
The focus now shifts to Thursday’s Consumer Price Index (CPI) report, which is expected to show prices rising 0.1% last month and core prices (excluding food and energy) rising 0.2%. Any surprise in the inflation data could significantly impact the likelihood of a rate cut in September and, consequently, affect the price of Bitcoin.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Blackrock #EthereumETF #Uniswap #Germany $BTC $XRP $USDC

Cardano is making significant progress toward its major Chang upgrade, one of the biggest updates in its history.
The recent release of Cardano Node 9.0.0 brings the blockchain closer to this important milestone. The Chang upgrade is highly anticipated and is set to bring substantial improvements to the Cardano network

Cardano Approaches Major Chang Upgrade: Key Details
Romain Pellerin, CTO at Input Output Global (IOG), has praised the release of Cardano Node 9.0.0 as a significant milestone, calling it a “big deal” and a “foundational moment.” He emphasized that the upcoming Chang upgrade, set to bring decentralized governance to Cardano, will allow the community to vote and influence the network’s future on-chain.
The Chang upgrade, expected by the end of July, is one of the most substantial updates in Cardano’s history. The release of the new node version marks an important step toward this upgrade, which Cardano founder Charles Hoskinson has also celebrated.
Cardano’s past upgrades have had a positive impact, heightening excitement for the Chang hard fork. For instance, before its major upgrade in 2021, ADA’s price surged by 130%, climbing from $1.35 to $3.10 in just a month. Currently, ADA is down by 0.60% over the last 24 hours, trading at $0.372.
Details of Cardano Node 9.0.0 Release
The recent release of Cardano Node 9.0.0, as documented on GitHub, marks a significant step toward the Conway ledger era. This major update includes essential features for the Chang hard fork, such as on-chain governance via CIP-1694, support for Plutus v1 reference scripts, and Plutus script signature support via CIP-69.

Source: X

Node 9.0.0 is the first version capable of bridging the boundary for the 9.0 hard fork (Chang) on both mainnet and long-running testnets like Preprod. However, this release only supports the bootstrap phase of CIP-1694 in production environments (Protocol Version 9.0) and does not yet enable DRep voting and other governance actions, which will be introduced in Protocol Version 10.0.
It’s important to note that Node 9.0.0 is delivered without a valid Conway-era Genesis file, which is necessary to fully transition through the Chang hard fork. This file will be provided at a later date, requiring a minor configuration update to complete the process.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#ADA #Cardano #ADA #Blackrock #Bitcoin $ADA $ADA $ADA

A significant market development occurred as 9 trillion PEPE tokens were transferred to Bybit, prompting notable activity. This large transfer, valued around $82 million, has coincided with a 9.7% increase in PEPE’s price over the past week.
Whale Alert highlighted this transaction, linking it to recent price fluctuations in the PEPE market. The transfer suggests heightened investor interest and potential volatility, reflecting the impact of large whale transactions on cryptocurrency prices.

Massive PEPE Token Transfer Spurs Speculation and Analysis
On July 10, 2024, at precisely 04:06:35 UTC, a substantial transfer of 9 trillion PEPE tokens occurred, involving the meme-themed cryptocurrency. The scale and timing of this transaction have sparked considerable speculation and analysis within the trading community. The transfer came from a wallet known for its high transaction frequency, which has recently engaged in a series of large-scale moves.

Source: Twitter-X
The sender’s address, which has been active in diversifying its holdings across multiple cryptocurrencies, executed recent significant transfers to Bybit’s hot wallet. These transfers included large amounts of ETH and various other tokens, suggesting a strategy focused on liquidity management or preparing for market movements.
The receiving Bybit address, known for holding substantial balances in ETH and a variety of other tokens, plays a crucial role in the exchange’s liquidity operations. This significant transfer coincides with a period of stabilization in PEPE’s price, potentially providing new momentum for the market.
Whale Activity Intensifies Scrutiny in PEPE Market
The massive transfer of PEPE tokens and the subsequent price stabilization have heightened scrutiny on whale activities within the cryptocurrency market. According to data from IntoTheBlock, a significant portion of PEPE tokens is concentrated among a few large holders. This concentration can lead to substantial price fluctuations based on their trading actions.

Historical trends suggest that spikes in transaction volumes, such as the recent one, often precede notable price movements, whether upward or downward. Large holders’ ability to influence market directions is well-documented, making their activities a critical point of interest for both investors and analysts.
This recent transaction underscores the ongoing impact of major stakeholders on the cryptocurrency markets, particularly within the altcoin sector.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#PEPE #Pepecoin #Blackrock #EthereumETF #Bitcoin $PEPE $WIF $DOGE

A Singaporean high court has decided that the Multichain Foundation must compensate the Fantom Foundation for losses from a 2023 hack.
The court, led by Judicial Commissioner Mohamed Faizal, ruled that Multichain should pay Fantom about $2.2 million, which is the amount Fantom reported losing in the attack last July.

Fantom Wins $2.2 Million Compensation from Multichain After 2023 Hack
On July 6, 2023, Multichain experienced significant outflows from several of its cross-chain bridges, including the Fantom bridge. This exploit led to the loss of over $210 million in cryptocurrency assets across various chains, including Ethereum, BNB, Cronos, Polygon, Arbitrum, zkSync, Optimism, and Moonbeam.
Following the incident, the Fantom Foundation secured a default judgment against Multichain on January 30, 2024. The foundation has been seeking the liquidation of Multichain to recover the lost funds. During a June 3 hearing, Fantom presented evidence that the losses were due to Multichain’s CEO, Zhaojun He, having full control over the assets stored in the Multichain Bridge.
A statement from Multichain after the hack revealed that the CEO had been in custody of the Chinese police for several months. It was later confirmed that the project was not as decentralized as it had claimed, and the CEO had been in control of the assets.
Court Ruling: Fantom to Receive $2.2 Million from Multichain After 2023 Hack
The recent court ruling decrees that Multichain Foundation Ltd and Multichain Pte Ltd are to compensate the Fantom Foundation for losses incurred during a 2023 hack. Fantom had taken legal action against both entities, arguing that the creation of Multichain Pte Ltd shortly before the exploit might have been an attempt to divert the stolen assets. Although this specific allegation was not considered, Judicial Commissioner Mohamed Faizal noted that Multichain had admitted to the issue on social media.
Faizal highlighted that the breach was facilitated by the CEO of Multichain, who had ultimate control over the cryptocurrency assets in the Multichain Bridge. This was contrary to the User Agreement, which promised decentralized control through secure multi-party computation nodes.
The compensation awarded is less than the amount initially claimed by Fantom. The foundation intends to continue its legal efforts until a liquidator is appointed. This ruling comes amid a significant rise in funds lost to crypto hacks, with a 70.3% increase reported in the second quarter of 2024. Since 2011, over $19 billion has been lost to such incidents, according to security firm Crystal Intelligence

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Fantom #FTM #Bitcoin #Blackrock #EthereumETF $FTM $XRP $BTC

Santiment reveals that Shiba Inu has decoupled from the altcoin market, experiencing a mild 5% rise over the last 48 hours as whales accumulate 6.57 trillion SHIB in one month. This bullish development was disclosed in a recent report on X by the crypto behavior analytics platform.
Despite this positive movement, the broader crypto market has continued its downtrend since June, with prices reaching multi-month lows. Shiba Inu has not been immune to this decline, currently down 43% from its high of $0.00002945 on May 29.
Shiba Inu Stabilizes and Rebounds Amid Market Trends
As selling pressure eased, Shiba Inu’s prices began to stabilize, benefiting from a mild recovery. So far, the token has recovered 33% from its low of $0.00001266 on July 5.

SHIB Daily Chart
Santiment confirmed that Shiba Inu’s recent decoupling from the broader altcoin market contributed to this rebound. Over the weekend, Shiba Inu experienced a significant 16.15% intraday increase, its largest daily gain in four months. The last time SHIB saw such a bullish day was on March 4, with a spike of 59.46%.
After the 16.15% rise on July 6, SHIB experienced a subsequent 10% drop on Sunday. Despite this, it held above earlier lows and began the new week with two consecutive intraday gains. Santiment highlighted that Shiba Inu gained 5% over a 48-hour period at the time of its report.

Source: X
Shiba Inu Sees Bullish Accumulation Amid Exchange Withdrawals
Besides its impressive rebound, Shiba Inu has also demonstrated bullish accumulation patterns over the past month. According to Santiment, the 150 largest non-exchange addresses have acquired 6.57 trillion SHIB since June, increasing their cumulative balance to 562.84 trillion.
In contrast, exchanges have reduced their Shiba Inu reserves over the same period. The 150 largest exchange addresses have lost 5.53 trillion SHIB since June, decreasing their balance to 187.1 trillion SHIB.
Also Read:   Roaring Kitty Buys 9M CHWY Shares Amid GameStop Lawsuit
Data from CryptoQuant supports this trend, revealing that exchanges have experienced 24 days of net outflows in the past 31 days. During these outflows, exchanges recorded a total net withdrawal of 8.779 trillion SHIB tokens.

Shiba Inu Exchange Netflow | CryptoQuant
SHIB Exchange Reserves Hit Record Low, Sparks Price Surge Anticipation
Due to sustained outflows, SHIB’s exchange reserves have dropped to a record low of 143.948 trillion tokens, the lowest ever recorded in Shiba Inu’s history. Historical data suggests that each time SHIB experiences a significant decrease in exchange reserves, a price surge follows. The last instance of this pattern occurred in February, leading up to a notable 370% rally.

Shiba Inu Exchange Reserve | CryptoQuant
Currently, Shiba Inu is trading at $0.00001681, showing a 2.3% increase this morning. Market analyst Javon Marks has indicated that SHIB may be on the verge of a pivotal rally. He has set a target range of $0.000081 to $0.0001553, pointing out that SHIB has maintained its position above a crucial resistance trendline.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SHIB #ShibaInu #Blackrock #EthereumETF #Uniswap $SHIB $BTC $BNB

Uniswap Labs is challenging the SEC’s expanded exchange definition following a Supreme Court decision affecting regulatory agency deference.
The SEC’s Wells Notice to Uniswap in April signals potential legal action for unregistered securities exchange operations.
Uniswap Labs Challenges SEC Over Expanded Exchange Definition
Uniswap Labs recently called on the U.S. Securities and Exchange Commission (SEC) to reconsider its proposed rule changes to the Securities Exchange Act of 1934. These changes aim to expand the definition of “exchange,” a move Uniswap contends overreaches the SEC’s authority, particularly concerning decentralized finance (DeFi) platforms.

Source: X
In April, the SEC issued a Wells Notice to Uniswap, indicating the agency’s intention to sue the company for operating as an unregistered securities exchange. Uniswap Labs has defended its operations, arguing that its protocol, which facilitates automated transactions between cryptocurrency tokens, does not meet the traditional criteria of an exchange and functions more as passive technology.
This legal contention stems from the Supreme Court’s recent ruling in Loper Bright Enterprises v. Raimondo, which alters how judicial deference to regulatory agencies, known as Chevron deference, is applied. Uniswap argues that without this deference, the SEC’s broad interpretation of the term “exchange” could be invalidated by the courts.

Source: X
In response to these developments, Uniswap Labs has requested that the SEC reopen the public comment period on these proposed rule changes. The firm argues that the legal sector has shifted significantly enough to warrant a fresh round of commentary from stakeholders.
This call for additional public input underscores the firm’s stance that the rule changes, as currently proposed, could stifle innovation and lead to significant legal uncertainty within the DeFi sector.
Uniswap Labs Defends Against SEC’s Regulatory Approach
Uniswap Labs points to previous court decisions that have shown hesitance to apply securities laws strictly to decentralized crypto services, such as in cases against Coinbase, Inc., and Binance Holdings. The company suggests that the SEC’s current approach of regulating through enforcement could lead to inconsistent legal outcomes.
Uniswap’s proactive stance highlights its commitment to legal compliance while advocating for fair regulatory measures that do not unduly hinder technological and financial innovation.
The company remains prepared to defend its position, even if it means taking its arguments to the Supreme Court, underscoring its dedication to both its business model and the broader DeFi ecosystem

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#UNI #UniSwap #Bitcoin #Blackrock #EthereumETF $BTC $UNI $SOL

PeiPei, an Ethereum-based meme coin, has become the top gainer among the 500 largest cryptocurrencies. Despite a period of low buying pressure and market consolidation, PeiPei has shown strong performance.
This week has been particularly good for PeiPei, which saw an 11.14% increase on Monday, reflecting its resilience as the crypto market stabilizes.

PeiPei Emerges as Top Gainer Among Top 500 Crypto Assets
PeiPei, an Ethereum-based meme coin, has surged as the top gainer among the 500 largest cryptocurrencies. This positive trend follows a broader market recovery, which was aided by a reduction in Bitcoin’s selling pressure. PeiPei had previously suffered a significant decline, dropping 43% from its all-time high of $0.00000002960 on July 1 to $0.00000001691 on July 6 amid a market-wide downturn.

PEIPEI price – July 10 | Source: Santiment
However, PeiPei capitalized on the market rebound, experiencing a 28.23% increase on July 9 and continuing its upward momentum into the next day. The token hit a new all-time high of $0.00000003230 earlier today, recovering from the recent correction. Despite a sharp pullback from this peak, PeiPei has maintained a 9.89% gain this morning and a 42% increase over the past 24 hours.
The meme coin’s market capitalization has surged to $119 million, making it the 300th largest cryptocurrency. This impressive performance positions PeiPei as the biggest gainer among the top 500 crypto assets.
PeiPei’s Surge and Social Volume Growth Highlight Its Rising Popularity
PeiPei, the Ethereum-based meme coin, has seen a significant increase in social volume amid its recent price surge. The token has climbed the ranks to become one of the top trending assets on CoinMarketCap, CoinGecko, and crypto exchange Crypto.com. This heightened attention has driven a 65.76% rise in its 24-hour trading volume, reaching $190.06 million, reflecting growing investor interest.
Since its launch in June, PeiPei has experienced an impressive 771% increase in value, with a notable 53.94% gain in just the past week. The token is currently trading at $0.00000002940.
PeiPei has secured listings on over 12 centralized exchanges, including MEXC, Bybit, and Gate.io. The project recently announced a partnership with Brazilian UFC fighter Gilbert Burns, adding to its visibility.
Despite these achievements, PeiPei is still in the early stages of establishing itself in the crypto space. Information about its founders is scarce, and its roadmap remains vague. As a result, investors are advised to exercise caution.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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