- Bitcoin is buying and selling close to $61,977 because the cryptocurrency market cap declines to $2.14 trillion.
- BNB Chain will launch a brand new layer 1 blockchain for mainnet agent transactions in 2027.
- Amid rising tensions within the area, Iran has formally halted nuclear negotiations with the USA.
Bitcoin was buying and selling round $61,977, down 1.39% prior to now 24 hours, however up 1.96% on the week. In the meantime, Ethereum was hovering round $1,730, down 1.52% for the day, however up 6.03% for the week. XRP traded round $1.08, whereas Solana fell 2% on the day to $77.20.
The market capitalization of cryptocurrencies was $2.14 trillion, down 0.91% prior to now day. The Altcoin Season Index remained at 49, whereas the Concern and Greed Index was 26, nonetheless in “worry” territory. The common crypto RSI has fallen to 44.47 and is leaning in the direction of oversold.
In keeping with Coinglass, the liquidation worth of crypto futures reached roughly $387 million in 24 hours, with longs taking the brunt of the whole with roughly 80.71%, or $313 million. Binance recorded the very best liquidation quantity, adopted by Hyperliquid and OKX.
BNB Chain Targets New Layer 1 Agent Buying and selling
BNB Chain is constructing a brand new layer 1 blockchain targeted on high-frequency buying and selling and AI agent buying and selling, aiming for sub-50ms transaction pre-confirmation and eliminating public swimming pools to curb sandwich assaults.
The chain routes orders instantly to dam producers by way of TxStream, reserves devoted block house for oracles and clearing by way of PriorityLane, and targets over 100,000 transactions per second. It will run in parallel with the prevailing BNB Good Chain, with the testnet anticipated to launch by the top of 2026 and the mainnet in early 2027.
Rising geopolitical and macro pressures
A senior Iranian authorities official stated Tehran had formally suspended negotiations with the USA over a ultimate nuclear deal following threats from Washington and preliminary reviews that talks have been scheduled to renew in Pakistan on July 11.
Minutes from the Fed’s June assembly confirmed that officers stay divided on the route of rates of interest, citing AI-powered infrastructure spending, tariffs and inflation dangers from geopolitical conflicts as new components that might preserve worth pressures rising. A number of members pointed to widespread worth will increase throughout items and providers, however even probably the most hawkish members stopped in need of calling for fast worth will increase.
On-chain exercise and whale motion
Justin Solar expanded his Lido staking place by one other 13,000 ETH (price about $23 million), bringing his complete stETH holdings to about 247,436 tokens price about $430 million, producing almost $9.5 million in annual yield. Individually, 167,000 HYPE (equal to roughly $11.2 million) was transferred by means of Galaxy Digital’s OTC desk from a pockets believed to belong to Multicoin Capital.
Whales additionally returned to gold-backed tokens, with Abraxas Capital withdrawing 3,931 XAUT price roughly $16 million, and wallets that had been dormant for 3 years resumed purchases, withdrawing 953 XAUT price roughly $3.93 million from Binance.
Change continues to close down
AscendEX has confirmed that it’s going to stop operations on account of failure to safe an EU MiCA license and the collapse of a strategic transaction. In keeping with on-chain knowledge, the trade solely holds about $13.5 million in property in opposition to hundreds of thousands of {dollars} in verified consumer claims, and in late June its reserves fell by greater than $240 million in a single day. ZachXBT warned that the platform has only a few liquid property accessible for processing withdrawals.
DeFi dashboard Zapper additionally introduced it might shut down completely on August 3, citing a scarcity of a sustainable path ahead, regardless of at one level reaching 2 million month-to-month energetic customers and processing greater than $13 billion in transaction quantity.
Funding and company growth
Paradigm closed a $1.2 billion fund focusing on AI and robotics alongside its core crypto technique, bringing complete property beneath administration to effectively over $11.9 billion. Blue Origin has raised $10 billion at a valuation of $130 billion, with Courtue main the $4 billion funding and Jeff Bezos personally investing $2 billion.
Money App’s dad or mum firm, Block, has agreed to pay $45 million to resolve allegations throughout almost each U.S. state that it misrepresented its safety protections and did not correctly warn customers about a rise in fraud.
market construction monitoring
Glassnode stated Bitcoin’s bottoming course of continues to be underway however lacks confirming alerts as realized losses for long-term holders have reached their highest degree since December 2022 and ETF outflows have declined however are nonetheless web unfavorable. CFTC Chairman Michael Selig urged lawmakers to cross the Readability Act earlier than the Aug. 7 recess, saying Democratic ethics calls for a “derailing distraction” from bipartisan progress.
associated: BNB Chain targets AI buying and selling with new high-speed Layer 1 blockchain
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