Summary of the last 48 hours of telegram message

Market Analyzer Created at: 21 July, 2024 10:23 AM

Crypto Market Report: July 19-20, 2024

This report synthesizes information from a large dump of messages from various cryptocurrency groups, providing insights for crypto enthusiasts and traders.

Summary

The cryptocurrency market experienced a significant surge during the reporting period, driven by a confluence of factors. Bitcoin (BTC) broke through the $67,000 mark, reaching its highest point in over a month, fueled by speculation surrounding Donald Trump's potential return to the presidency and his rumored plans for a U.S. Bitcoin strategic reserve. Ethereum (ETH) also saw a notable upward movement, nearing $4,000, further boosted by the imminent launch of spot Ethereum ETFs.

The news surrounding the upcoming launch of Ethereum ETFs has generated significant excitement within the crypto community, with several major financial institutions, including BlackRock, Fidelity, Ark, and VanEck, actively purchasing crypto assets. This institutional interest signals a growing acceptance of cryptocurrencies as a legitimate investment class.

However, amidst the bullish sentiment, there are also concerns about potential market corrections and the impact of regulatory developments. JPMorgan experts have expressed skepticism about the sustainability of the current crypto rally, citing rising Ethereum supply as a potential factor for a price dip. Additionally, the ongoing legal battles surrounding Binance and the recent data breach at Fractal ID highlight the inherent risks associated with the crypto space.

News and Developments

  • Institutional Activities:
    • BlackRock's cryptocurrency fund, BUIDL, has surpassed $500 million in assets under management, demonstrating growing institutional interest in tokenization and digital assets. Benzinga
    • Galaxy Digital Holdings acquired blockchain node operator CryptoManufaktur, increasing its Ethereum assets under stake from $2.3 billion to $3.3 billion. The Block
    • Binance.US received court approval to invest certain customer assets in U.S. Treasury bills. The Block
  • Regulatory News:
    • South Korea implemented new crypto regulations aimed at strengthening user protection, including mandatory insurance for virtual asset service providers and separate custody of customer assets. Ambcrypto
    • The U.S. Securities and Exchange Commission (SEC) is expected to approve rule changes for Ethereum ETFs, paving the way for their launch on July 23. Cointelegraph
    • Ripple CEO Brad Garlinghouse expects a resolution to the SEC lawsuit "very soon," potentially leading to an XRP settlement announcement. The Block
  • Project Updates:
    • Sanctum's CLOUD token is now listed on Bybit, Gate, Bitget, Kraken, Orca, and Jupiter. X
    • Avail (AVAIL) will be listed on Bybit on July 23rd. X
    • Injective (INJ) launched its staking Exchange-Traded Product (ETP) by 21Shares - AINJ. Injective
    • IoTeX (IOTX) launched V2.0, transitioning into an open modular infrastructure for DePINs. X
    • KIP Protocol (KIP) announced a partnership with Moemate, an entertainment product designed to provide users with a virtual AI companion. X
    • Sharpe AI (SAI) announced a partnership with io.n\u0435t, a blockchain-based network that allows users with unused GPU capacity to provide computing power to resource-intensive AI companies. X
    • Mines of Dalarnia announced that DAR and LAND staking will go live on July 25, 2024. X
    • Zellular, a Consensus Layer & Sequencing Service, is deployed on Eigenlayer. X
    • zkLink (ZKL) will be listed on Bybit, Bitget, KuCoin, MEXC, Gate, BitMart, CoinList, and Hashkey Global on July 22nd. X
    • Grayscale announced plans to spin off a portion of its Grayscale Bitcoin Trust into a new exchange-traded fund (ETF). Cointelegraph
    • Nirvana Labs raised $4 million in funding led by Castle Island Ventures. CoinDesk
    • BitForex resumed withdrawals after a police investigation. CoinDesk
    • Binance is investing users' funds in United States Treasury Bills. Cryptopolitan
    • Telegram introduced a mini app store with gaming apps like "Hamster Kombat" leading the pack. The Block
    • TheiaResearch published an article on Banana Gun's business model. X
    • Momir shared an illustration of the challenges faced by compute networks and crypto-AI initiatives. X
    • Nothing Research published an article explaining Fully Homomorphic Encryption (FHE) in simple terms. Medium
    • ASXN published an article examining the dynamics of the ETH ETF. X
    • Marshall Vyletel Jr. published an article on Rollup Interop. X
    • Magicdhz published an article on evaluating the quality of AMMs. X
    • a16zcrypto published an article on the cryptoeconomics of slashing. a16zcrypto
    • David Wong published an article on attacking BFT protocols. X
    • Kloshy published an article on Mysticeti, Sui Network's new consensus protocol. X
    • Mr. Lin | Pendle published an article on vePENDLE for beginners. X
    • r\u0430\u0440\u0434\u0434 published an article on how Monad will decentralize AI. X
    • The Sink published a whitepaper on its L2 solution. GitHub
  • Market Trends and Price Movements:
    • Bitcoin (BTC) experienced a significant upward movement, reaching its highest point in over a month, exceeding $67,000. Decrypt
    • Ethereum (ETH) also saw a notable upward movement, nearing $4,000. Cryptopolitan
    • Solana (SOL) experienced a 20% surge in a week. Cryptodnes
    • POPCAT, a Solana-based memecoin, became the first cat coin to reach a $1 billion market cap. X
    • $MICHI, a Solana-based memecoin, saw significant gains and strong community support. X
    • DOGE experienced a significant price surge, breaking out to new highs. X
    • $MAGAA, a Trump-themed memecoin, skyrocketed 20% after a shoutout from Elon Musk. Coinpedia
    • $ZKL, zkLink's governance token, will go live on Bybit, Bitget, Bitmart, MEXC, and more. X
    • $ANDY, a BSC memecoin, saw significant accumulation and community building. DexScreener
    • $BRETT, a Base memecoin, is now tradeable on dYdX. X
    • $CIPPONE, a BSC memecoin, saw a potential CTO. DexScreener
    • $DEFIDO, a Base memecoin, saw a potential CTO. DexScreener
    • $MONGY, a Solana memecoin, saw a significant pump. Photon
    • $MEW, a Solana memecoin, saw a potential pump. DexScreener
    • $CHAMP, a Solana memecoin, saw a potential pump. Pump.fun
    • $ESKETIIIT, a Solana memecoin, is set to launch on pump.fun. esketiiitonsol.net
    • $HIGHER, a Solana memecoin, saw a potential comeback. DexScreener
    • $HASHAI, an Ethereum memecoin, saw a significant pump. DexScreener
    • $SPURDO, an Ethereum memecoin, saw a potential pump. DexScreener
    • $WAGIE, a Solana memecoin, saw a potential pump. DexScreener
    • $Tatsu, an Ethereum memecoin, saw a potential pump. DexScreener
    • $GIF, a Solana memecoin, saw a potential pump. DexScreener
    • $MEOW, a Base memecoin, saw a potential pump. DexScreener
    • $VANTRUMP, a Solana memecoin, is set to launch. donaldvantrump.site
    • $ILLUSION, a Solana memecoin, saw a potential pump. DexScreener
    • $BRAINLET, an Ethereum memecoin, saw a potential pump. DexScreener
    • $STING, a Solana memecoin, is set to launch. stingthescorpion.com
    • $CHAMP, a Solana memecoin, is set to launch. Pump.fun
    • $CULT, a Solana memecoin, saw a potential pump. X
    • $PEEZY, an Ethereum memecoin, saw a potential pump. X
    • $WHY, a BSC memecoin, saw a potential pump. CoinGecko
    • $DUCKY, a Solana memecoin, saw a potential pump. DexScreener
    • $ZERO1, a memecoin, saw a potential pump. DexScreener
    • $KILO, a memecoin, saw a potential pump. Medium
    • $AVAIL, a memecoin, saw a potential pump. DexScreener
    • $SOMETHING, a memecoin, saw a potential pump. DexScreener
    • $RCOF, a memecoin, saw a potential pump. SFCToday
    • $TURBO, a memecoin, saw a potential pump. CoinGecko
    • $PEIPEI, a memecoin, saw a potential pump. CoinGecko
    • $WOLF, a memecoin, saw a potential pump. CoinGecko
    • $AZUR, a memecoin, saw a potential pump. CoinGecko
    • $NOT, a memecoin, saw a potential pump. CoinGecko
    • $HAMMY, a memecoin, saw a potential pump. CoinGecko
    • $AITECH, a memecoin, saw a potential pump. CoinGecko
    • $W, a memecoin, saw a potential pump. CoinGecko
    • $POPCAT, a memecoin, saw a potential pump. CoinGecko
    • $BANANA, a memecoin, saw a potential pump. CoinGecko
    • $ALPH, a memecoin, saw a potential pump. CoinGecko
    • $TAO, a memecoin, saw a potential pump. CoinGecko
    • $PIRATE, a memecoin, saw a potential pump. CoinGecko
    • $KAS, a memecoin, saw a potential pump. CoinGecko
    • $MOG, a memecoin, saw a potential pump. CoinGecko
    • $MICHI, a memecoin, saw a potential pump. CoinGecko
    • $SPX, a memecoin, saw a potential pump. CoinGecko
    • $JOE, a memecoin, saw a potential pump. CoinGecko
    • $CROWN, a memecoin, saw a potential pump. CoinGecko
    • $KDA, a memecoin, saw a potential pump. CoinGecko
    • $KEY, a memecoin, saw a potential pump. CoinGecko
    • $SYN, a memecoin, saw a potential pump. CoinGecko
    • $BLUR, a memecoin, saw a potential pump. CoinGecko
    • $REN, a memecoin, saw a potential pump. CoinGecko
    • $UMA, a memecoin, saw a potential pump. CoinGecko
    • $SKL, a memecoin, saw a potential pump. CoinGecko
    • $PEPE, a memecoin, saw a potential pump. CoinGecko
    • $NOT, a memecoin, saw a potential pump. CoinGecko
    • $CVP, a memecoin, saw a potential pump. CoinGecko
    • $FOR, a memecoin, saw a potential pump. CoinGecko
    • $USTC, a memecoin, saw a potential pump. CoinGecko
    • $LUNA, a memecoin, saw a potential pump. CoinGecko
    • $BTTC, a memecoin, saw a potential pump. CoinGecko
    • $VITE, a memecoin, saw a potential pump. CoinGecko
    • $CTK, a memecoin, saw a potential pump. CoinGecko
    • $AMP, a memecoin, saw a potential pump. CoinGecko
    • $NEO, a memecoin, saw a potential pump. CoinGecko
    • $STMX, a memecoin, saw a potential pump. CoinGecko
    • $DYM, a memecoin, saw a potential pump. CoinGecko
    • $TIA, a memecoin, saw a potential pump. CoinGecko
    • $BANANA, a memecoin, saw a potential pump. CoinGecko
    • $FLOW, a memecoin, saw a potential pump. CoinGecko
    • $OGN, a memecoin, saw a potential pump. CoinGecko
    • $OXT, a memecoin, saw a potential pump. CoinGecko
    • $ORN, a memecoin, saw a potential pump. CoinGecko
    • $AR, a memecoin, saw a potential pump. CoinGecko
    • $LOL, a memecoin, saw a potential pump. DexScreener
    • $CBOE, a memecoin, saw a potential pump. CoinGecko
    • $FIS, a memecoin, saw a potential pump. CoinGecko
    • $BNB, a memecoin, saw a potential pump. CoinGecko
    • $CELR, a memecoin, saw a potential pump. CoinGecko
    • $DEGO, a memecoin, saw a potential pump. CoinGecko
    • $KDA, a memecoin, saw a potential pump. CoinGecko
    • $LQTY, a memecoin, saw a potential pump. CoinGecko
    • $ETC, a memecoin, saw a potential pump. CoinGecko
    • $COMBO, a memecoin, saw a potential pump. CoinGecko
    • $CVP, a memecoin, saw a potential pump. CoinGecko
    • $APT, a memecoin, saw a potential pump. CoinGecko
    • $NOT, a memecoin, saw a potential pump. CoinGecko
    • $SUN, a memecoin, saw a potential pump. CoinGecko
    • $CFX, a memecoin, saw a potential pump. CoinGecko
    • $ALT, a memecoin, saw a potential pump. CoinGecko
    • $INJ, a memecoin, saw a potential pump. CoinGecko
    • $LRC, a memecoin, saw a potential pump. CoinGecko
    • $POLS, a memecoin, saw a potential pump. CoinGecko
    • $ATM, a memecoin, saw a potential pump. CoinGecko
    • $ASR, a memecoin, saw a potential pump. CoinGecko
    • $KNC, a memecoin, saw a potential pump. CoinGecko
    • $JST, a memecoin, saw a potential pump. CoinGecko
    • $BAND, a memecoin, saw a potential pump. CoinGecko
    • $OXT, a memecoin, saw a potential pump. CoinGecko
    • $OGN, a memecoin, saw a potential pump. CoinGecko
    • $OMNI, a memecoin, saw a potential pump. CoinGecko
    • $PYR, a memecoin, saw a potential pump. CoinGecko
    • $KEY, a memecoin, saw a potential pump. CoinGecko
    • $NEXO, a memecoin, saw a potential pump. CoinGecko
    • $PROM, a memecoin, saw a potential pump. CoinGecko
    • $XTZ, a memecoin, saw a potential pump. CoinGecko
    • $BURGER, a memecoin, saw a potential pump. CoinGecko
    • $LQTY, a memecoin, saw a potential pump. CoinGecko
    • $FLOW, a memecoin, saw a potential pump. CoinGecko
    • $ATA, a memecoin, saw a potential pump. CoinGecko
    • $WBETH, a memecoin, saw a potential pump. CoinGecko
    • $FIL, a memecoin, saw a potential pump. CoinGecko
    • $GAS, a memecoin, saw a potential pump. CoinGecko
    • $STEEM, a memecoin, saw a potential pump. CoinGecko
    • $ONG, a memecoin, saw a potential pump. CoinGecko
    • $SC, a memecoin, saw a potential pump. CoinGecko
    • $AERGO, a memecoin, saw a potential pump. CoinGecko
    • $HFT, a memecoin, saw a potential pump. CoinGecko
    • $DODO, a memecoin, saw a potential pump. CoinGecko
    • $BB, a memecoin, saw a potential pump. CoinGecko
    • $RAD, a memecoin, saw a potential pump. CoinGecko
    • $C98, a memecoin, saw a potential pump. CoinGecko
    • $ONT, a memecoin, saw a potential pump. CoinGecko
    • $RARE, a memecoin, saw a potential pump. CoinGecko
    • $GMT, a memecoin, saw a potential pump. CoinGecko
    • $BOND, a