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Discover the excitement and rewards that await you at Betplay.io with a 100% welcome bonus and 10% weekly cashback!Crypto Market UpdateTable of ContentsBitcoin and Ethereum UpdatesBitcoin settles above $67,000 after Biden announcementEthereum ETFs to start trading, signaling regulatory acceptanceMarket and Investment TrendsCrypto inflows soar to $3.2 billion in JulyMetaplanet stock rises after Bitcoin purchase announcementHong Kong launches Asia's first Bitcoin futures inverse productPolitical and Regulatory ImpactsBiden not seeking reelection impacts memecoinsBinance.US to invest customer funds in US Treasury billsHKX withdraws license application, closing crypto exchangeCompany and Token MovementsHelium's HNT token surges with subscriber growthzkLink's ZKL token drops 45% post-listingAnimoca Brands and TON Blockchain's $20 million initiativeBNB Foundation burns $971 million worth of tokensSolana whales move significant amounts of SOLSecurity and Legal DevelopmentsWazirX hacker moves $57 million Ethereum, bounty increasedGemini settles $36 million theft lawsuitRho Markets resumes after $8 million Oracle misconfigurationTechnology and InnovationLumio's layer-2 launch on Solana's public devnetTheta Labs collaborates with KAIST AIKeplr wallet to support Ethereum and Layer 2 blockchainsInjective partners with Ondo Finance for real-world assetsFunding and PartnershipsNPC Labs secures $18 million funding for gaming expansionSLAM Foundation to launch SlamNet for Web3 information economyCommunity and EducationUniversity of Queensland highlights crypto scam education gapApeCoin DAO proposes Bored Ape-themed hotel in BangkokBitcoin settles above $67,000 after Biden announcementBitcoin settled above $67,000 after briefly surpassing $68,000 following President Biden's announcement that he would not seek reelection. Despite this surge, crypto majors traded flat, even as U.S. equity markets rallied. Analysts foresee Bitcoin benefiting from "the Trump trade" in the lead-up to the November elections, with potential easing of regulations under a Trump administration. Bitcoin's price momentum is also supported by China's unexpected interest rate cuts and robust on-chain metrics, including decreased miner selling pressure and significant ETF inflows. Meanwhile, Mt. Gox is preparing to repay creditors, potentially affecting market dynamics. Ethereum ETFs to start trading, signaling regulatory acceptanceOn July 23, 2024, spot Ethereum ETFs from Grayscale, Bitwise, Fidelity, and others will start trading on NYSE Arca and Cboe, signaling regulatory acceptance and aiming to attract $1.2 billion monthly inflows. Ethereum whales moved $122 million ETH to exchanges, preparing for potential sell-offs amid ETF launch hype. Analysts foresee initial sell pressure and a rise in implied volatility, with potential price drops to $2,800-$3,100 before recovering to $4,000. The launch could unlock new institutional and retail investments, significantly boosting ETH prices and broader market interest.Crypto inflows soar to $3.2 billion in JulyIn July, crypto inflows soared to $3.2 billion, fueled by robust demand for Bitcoin ETFs. Investment products saw $1.35 billion in inflows last week alone, with Bitcoin products leading at $1.27 billion. Ethereum also saw positive movement, anticipating new ETF launches. Despite these gains, blockchain equities faced minor outflows, contrasting with crypto's bullish momentum.Metaplanet stock rises after Bitcoin purchase announcementJapanese firm Metaplanet saw its stock rise by 19% after announcing the acquisition of 1 billion yen worth of Bitcoin for its treasury. The move underscores a strategic shift towards cryptocurrency investment, reflecting growing corporate interest in digital assets as a hedge against inflation and currency fluctuations. Metaplanet's decision to allocate a significant sum to Bitcoin signals confidence in its long-term value despite market volatility, aiming to capitalize on potential price appreciation and broader adoption in the future.Hong Kong launches Asia's first Bitcoin futures inverse productHong Kong is pioneering Asia's first Bitcoin futures inverse product, the CSOP Bitcoin Future Daily (-1x) Inverse Product. Trading at 7.8 HKD per unit, it aims to profit from BTC price declines, following the success of existing crypto ETFs. HKEX crypto ETFs amassed $170 million in assets, indicating rising investment interest. Biden not seeking reelection impacts memecoinsPresident Joe Biden announced he would not seek reelection, causing significant shifts in the cryptocurrency market, particularly affecting memecoins tied to his persona and family. The Joe Biden-linked Jeo Boden (BODEN) token dropped 62% in two hours, wiping out nearly $10 billion in market cap. Jill and Hunter Biden's tokens also saw losses of 68.5% and 62%, respectively. Conversely, the Kamala Horris (KAMA) token surged by 133%, driven by speculation that Kamala Harris might become the Democratic nominee. This surge briefly reached an all-time high of $0.02571 before stabilizing at a 58% increase. Amid the volatility, two traders lost $2 million and $8 million betting on Joe Biden's Democratic nomination and the 'Jeo Boden' meme coin. Traders on Polymarket experienced varied outcomes, with some losing millions and others gaining significantly. Binance.US to invest customer funds in US Treasury billsBinance.US has been granted court approval to invest customer fiat funds in US Treasury bills (T-bills). The decision, issued by Judge Amy Berman Jackson of the District of Columbia, permits the crypto exchange to place these assets with a four-week rolling maturity. The move ensures compliance with strict conditions, including maintaining sufficient USD reserves for customer withdrawals and barring involvement of third parties in investments.HKX withdraws license application, closing crypto exchangeHKX has withdrawn its license application from Hong Kong's Securities and Futures Commission, prompting the closure of its crypto exchange. Facing regulatory challenges, HKX urges users to withdraw assets. Thirteen other exchanges have also halted licensing efforts amid tightening regulations in the region.Helium's HNT token surges with subscriber growthHelium's HNT token surged 40% in the past week, outperforming Bitcoin. This rise follows Helium Mobile surpassing 100,000 subscribers, marking a 300-fold increase in one year. The network utilizes decentralized hotspots for IoT communication, incentivizing users with HNT tokens. This growth underscores blockchain's practical applications in real-world scenarios like wireless connectivity.zkLink's ZKL token drops 45% post-listingzkLink’s ZKL token faced a sharp 45% decline following its debut on major exchanges like Bybit, Hashkey, BitGet, KuCoin, and Gate.io. Despite its integration into the zkLink ecosystem for enhanced blockchain functionality and Web3 solutions, the token struggled amid significant selling pressure post-listing.Animoca Brands and TON Blockchain's $20 million initiativeAnimoca Brands and TON Blockchain are partnering with Moca Network and Moca Foundation in a $20 million initiative to expand TON adoption to 1.6 billion users. The collaboration includes incentives like The Open League and hackathons, aiming to integrate identity networks across both ecosystems through a 1:1 token swap of MOCA Coin.BNB Foundation burns $971 million worth of tokensIn its 28th quarterly burn, the BNB Foundation removed $971 million worth of tokens, bolstering scarcity and potentially boosting value. BNB currently trades around $593, with notable support at $585 and resistance at $600. Market indicators show a neutral RSI of 57.94 and a bullish MACD, hinting at possible short-term gains amidst active trading.Solana whales move significant amounts of SOLSolana (SOL) whales have recently moved significant amounts of SOL, sparking concerns of a potential sell-off. A whale transferred 196,068 SOL, valued at $35.16 million, to Binance, suggesting profit-taking intentions. Such moves historically pressure prices downward, despite SOL's recent 4% rise to $180, driven by increased trading volume amid positive market sentiment.WazirX hacker moves $57 million Ethereum, bounty increasedThe WazirX hacker has moved $57 million in Ethereum to new wallets, prompting the exchange to increase its recovery bounty to $23 million. This development follows the theft of $230 million from WazirX earlier this year, marking one of 2024's largest crypto hacks. The increased bounty underscores efforts to reclaim stolen funds and secure affected users' assets.Gemini settles $36 million theft lawsuitGemini has settled a $36 million crypto theft lawsuit with IRA Financial Trust, concluding a lengthy legal battle over security breaches. The agreement, finalized by Judge Analisa Torres, resolves allegations of misleading security claims related to a significant theft from IRA accounts. This marks a critical step for Gemini in addressing regulatory challenges and enhancing security measures.Rho Markets resumes after $8 million Oracle misconfigurationRho Markets has resumed operations following an $8 million Oracle misconfiguration that allowed an MEV bot to seize stablecoins. The bot returned the funds after requesting acknowledgment from Rho Markets that the incident was due to misconfiguration, not exploitation. Security measures have been bolstered to prevent future incidents.Lumio's layer-2 launch on Solana's public devnetLumio's layer-2 launch on Solana's public devnet is a significant step towards a vendor lock-in-free blockchain future. Solana deployment enables faster transactions and reduced latency amidst congestion. Developers can migrate code seamlessly with support for SVM, Move VM, and upcoming parallelized EVM, tackling scalability and compatibility challenges head-on.Theta Labs collaborates with KAIST AITheta Labs collaborates with KAIST AI to leverage Theta EdgeCloud for AI training and inference. The system merges 30,000 edge nodes with Google Cloud and AWS, yielding 80 PetaFLOPS. It optimizes AI tasks by routing to high-end cloud GPUs or distributed edge network GPUs. KAIST will start by utilizing the platform for virtual clothing try-ons.Keplr wallet to support Ethereum and Layer 2 blockchainsKeplr, the leading wallet app on Cosmos, will soon support Ethereum and Layer 2 blockchains, enhancing its appeal to a wider user base. This integration aims to cater to users active in both Cosmos and Ethereum ecosystems, facilitating management of Ethereum-based assets directly within Keplr. Scheduled for beta release soon, this update underscores Keplr's commitment to serving modular blockchain projects.Injective partners with Ondo Finance for real-world assetsInjective has partnered with Ondo Finance, integrating USDY tokenized treasury instruments to enhance institutional RWA offerings and capital efficiency. This collaboration aims to expand real-world asset opportunities within Injective's ecosystem, facilitating broader access to decentralized finance applications. The launch also includes AINJ, an innovative staking exchange-traded product developed with 21Shares, offering INJ exposure and staking rewards.NPC Labs secures $18 million funding for gaming expansionNPC Labs has secured $18 million in funding led by Pantera Capital, bringing their total raised to $21 million. Other investors include Makers Fund and Hashed. The funds will support NPC Labs' mission to expand gaming on the Base network, focusing on accessibility and building the B3.fun ecosystem for non-crypto users.SLAM Foundation to launch SlamNet for Web3 information economyThe SLAM Foundation, registered in the Cayman Islands, is set to launch SlamNet, an information economy project for Web3. It assembles data from CryptoSlam and other providers across major blockchains. SlamLink will transport the data, while SlamChain will facilitate commercial transactions. Additionally, SlamX aims to be a community-led platform for Web3 education.University of Queensland highlights crypto scam education gapRecent research from the University of Queensland indicates a significant gap in Australia's education on cryptocurrency scams. The study suggests a need to enhance financial education through trusted sources to combat increasing scam risks effectively. This approach aims to empower individuals with reliable information to navigate the complexities of the crypto landscape. Top Altcoin Gainers and LosersGainers: cat in a dogs world MEW (+20.78%) Celestia TIA (+12.41%) dogwifhat WIF (+9.80%) Losers:Ethena ENA (-7.29%) Arweave AR (-5.83%) Notcoin NOT (-4.97%) NFT Market MapApeCoin DAO proposes Bored Ape-themed hotel in BangkokA member of the ApeCoin DAO is proposing a Bored Ape-themed hotel in downtown Bangkok, seeking $356,000 for renovations. The plan includes themed rooms, an APE bar, and a pool, aiming to boost ApeCoin's visibility and revenue. The DAO supports the idea, with 90% in favor. If approved, the hotel will accept ApeCoin as payment, showcasing its real-world utility.This article has been refined and enhanced by ChatGPT.