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• Jul 9, 5:20 PM Crypto Briefing

  Bitlayer co-founder remains optimistic about Bitcoin DeFi despite market challenges

  In 2024, the Bitcoin decentralized finance (BTCfi) sector experienced a 23.4% decline in token values, contradicting earlier investor expectations of growth. Charlie Hu, co-founder of Bitlayer, acknowledges this downturn but identifies distraction from emerging crypto trends, a still-maturing user experience in BTCfi protocols, and the broader crypto market downturn as key setbacks. Despite these challenges, Hu is optimistic about the rising total value locked in BTCfi and potential improvements from ongoing infrastructure developments like the OP_CAT operation on Bitcoin's blockchain, suggesting a forthcoming surge in BTCfi activity and liquidity.

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• Jul 9, 4:31 PM The Block

  Arkham CEO plans to introduce paid features while maintaining free core services

  Arkham Intelligence, led by CEO Miguel Morel, plans to roll out paid features on their blockchain data platform later this year, while ensuring that essential services remain free. Morel emphasized the importance of growth before monetization and mentioned ongoing support additions for the TON and Solana blockchains. The inclusion of new chains like Solana, despite high integration costs, aims to enhance analytical capabilities and broaden user access.

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• Jul 9, 12:30 PM Coindesk

  Storj expands enterprise services with Valdi acquisition

  Storj, a crypto-backed cloud-storage platform, has acquired high-performance cloud computing provider Valdi to integrate GPU computing capabilities into its services. The acquisition brings over 16,000 GPUs from Valdi’s global network into Storj’s infrastructure, enhancing support for AI-driven workloads and addressing the growing demand for high-performance computing solutions in technology, research, and life sciences sectors. The terms of the deal were not disclosed.

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• Jul 9, 7:00 AM Coindesk

  Consensys launches MetaMask Delegation Toolkit to enhance user and developer experiences

  Consensys, the developer behind MetaMask, announced the release of the MetaMask Delegation Toolkit at the Ethereum Community Conference in Belgium. This toolkit aims to facilitate seamless interactions between users and decentralized applications by eliminating the need for traditional wallet interactions and user confirmations. It also simplifies smart contract development and enables the reassignment of gas costs, which allows selected users to avoid transaction fees. The toolkit supports multiple chains compatible with the Ethereum Virtual Machine, enhancing the usability and efficiency of blockchain technology.

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• Jul 8, 9:30 PM Cryptoslate

  Bitwise predicts $6 trillion from inheritance pouring to crypto in the next two decades

  Matthew Sigel from Bitwise forecasts that $6 trillion could be funneled into crypto over the next 20 years as young US investors aged 21-43 inherit an estimated $42 trillion from Baby Boomers. According to the 2024 Bank of America Private Bank Study, these inheritors plan to allocate 14% on average to crypto, showcasing a significant trend where even the most conservative among them exhibits higher crypto engagement compared to older investors.

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• Jul 8, 6:21 PM Crypto Briefing

  Lionel Messi's Instagram post spikes Solana-based WATER token by 400%

  Lionel Messi recently promoted the Solana-based meme coin WATER on his Instagram, leading to a nearly 400% price increase within three hours, despite the token being 80% below its all-time high and 35% controlled by a select group of wallets. This instance underscores the influence of celebrity endorsements on crypto markets, amid general caution advised about token-supply concentration and similar incidents involving hacked celebrity accounts promoting cryptocurrencies. WATER, claiming to impact the real world positively, saw its trading volume skyrocket to nearly $97 million following Messi's endorsement.

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• Jul 8, 5:25 PM Crypto Briefing

  German government transfers $895 million in Bitcoin, market reacts

  The German government transferred approximately 16,039 Bitcoin, valued at nearly $895 million, to exchanges and market makers, causing a brief 3.5% dip in Bitcoin prices before a recovery. Despite concerns, CryptoQuant CEO Ki Young Ju remarked that the impact of government sales on the market is overestimated, noting the transaction represents just 4% of total crypto inflow since 202 3. Meanwhile, investors remain cautious about potential market impacts from large Bitcoin sells by entities like Mt. Gox and the German government.

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• Jul 8, 4:02 PM The Block

  Bitfarms names new CEO amid rivalry with Riot

  Bitfarms has appointed Ben Gagnon, formerly the Chief Mining Officer, as its new CEO amid a hostile takeover attempt by rival company Riot. Gagnon, who has a decade of experience in Bitcoin mining, will focus on global business expansion, particularly in the US market. His appointment comes as Bitfarms and Riot continue their prolonged conflict over control of Bitfarms' operations, with Riot recently criticizing Bitfarms' corporate governance and threatening a takeover.

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• Jul 8, 3:13 PM Eric Balchunas

  VanEck files for first spot Ethereum ETF with the SEC

  VanEck has officially submitted the first S-1 filing for a spot Ethereum ETF, signaling an attempt to push the US Securities and Exchange Commission (SEC) on their stance regarding direct crypto investments. This move places VanEck at the forefront of the US crypto ETF space, further intensifying the discussion around crypto assets and regulatory acceptance.

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• Jul 8, 12:30 PM Crypto Briefing

  Solana leads altcoin inflows as crypto market sees major investments

  Crypto investment products experienced inflows of $441 million last week, led by Bitcoin with $398 million, which is 90% of the total. Despite Bitcoin's dominance, investors also turned to altcoins, with Solana gaining $16 million, marking it as the standout performer. Regionally, the US dominated the inflows, contributing $384 million. However, blockchain equities faced a downturn, with a $8 million outflow continuing a negative trend for the year.

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• Jul 8, 10:26 AM Coindesk

  Ether surpasses $3K as market indicators suggest pre-ETF rally

  Ether recently crossed the $3,000 threshold, buoyed by disappearing discounts in investment vehicles like the Grayscale Ethereum Trust and stabilized prices on exchanges such as Coinbase. These changes, coupled with price chart patterns, suggest an uptick in crypto investor confidence and potential market recovery. Signs of seller exhaustion after a significant downturn indicate that the Ethereum token might continue trending up, particularly with the upcoming launch of spot Ether ETFs in the US, expected to notably increase investor demand.

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• Jul 8, 5:58 AM Coindesk

  Germany still controls $2.2 billion in Bitcoin amid market fluctuations

  Germany possesses 29,286 Bitcoin (BTC) valued at $2.2 billion, continuing its liquidation strategy initiated in mid-June which has added selling pressure equivalent to 9% of Bitcoin's 24-hour trading volume. This ongoing disposal and the associated market movements have impacted Bitcoin's spot price notably, causing a near 20% drop in four weeks. The sales, seen as a strategic mistake by some industry voices, highlight concerns over the loss of potentially valuable assets in exchange for fiat currency.

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• Jul 8, 5:14 AM Hand-Picked

  BNB Chain launches MindPress, a new data marketplace

  BNB Chain has launched MindPress, a data marketplace leveraging the capabilities of Greenfield and BNB Smart Chain to facilitate easy trading and development of crypto digital assets. This platform offers comprehensive functionalities for developers, including simplified development processes, and robust management of storage, trading, and content permissions.

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• Jul 8, 3:25 AM Crypto Briefing

  Metaplanet continues Bitcoin buying spree with ¥400 million investment

  Metaplanet, a Tokyo Stock Exchange-listed company, has acquired an additional 42.47 BTC for approximately 400 million Japanese Yen, continuing its strategy to use Bitcoin as a reserve asset. This latest purchase follows a recent ¥200 million investment, bringing Metaplanet's total Bitcoin holdings to over 203 BTC, valued at around 2 billion Yen. Metaplanet's investment approach aligns with global trends where firms use Bitcoin to mitigate economic uncertainty.

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• Jul 7, 8:59 PM The Block

  Celo initiates Dango Layer 2 testnet to integrate with Ethereum ecosystem

  Celo has launched the Dango Layer 2 testnet, utilizing Optimism’s OP Stack, marking its initial move to transform from a standalone Layer 1 network to an integral part of the Ethereum ecosystem. This development aims for enhanced transaction efficiency and simpler token bridging between Ethereum and Celo, with plans for a mainnet release in early winter 2024.

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