This article comes to you with the generous support of Betplay.io. Discover the excitement and rewards that await you at Betplay.io with a 100% welcome bonus and 10% weekly cashback!Crypto Market UpdateTable of ContentsGeneral Market UpdatesKraken and Bitstamp to Distribute Mt. Gox ProceedsEthereum and Altcoin NewsEthereum ETFs See Strong Volume Despite Price DipBitcoin Spot ETFsBitcoin Spot ETFs Experience Significant OutflowsConference and Industry NewsKamala Harris Will Not Attend Bitcoin ConferenceMajor Holdings and Corporate MovesTesla and SpaceX Maintain Substantial Bitcoin HoldingsDeFi and TokenizationBlackRock and Others Compete for Ethena's RWA FundCoinbase to Launch Tokenized Money-Market FundSpeculations and Future ETFsFranklin Templeton’s Solana Endorsement Sparks ETF SpeculationCrypto Payment and InitiativesFerrari Expands Crypto Payments to European DealersStablecoins and Financial TechnologyJingdong to Launch Stablecoin Pegged to HK DollarSecurity and Protocol UpdatesdYdX Restores Website After DNS Hijacking IncidentLayerZero Rewards Sybil Bounty HuntersPrice Movements and Market SentimentRender's Price Falls Amid Whale Sell-OffsCOTI Chosen for Israel’s CBDC Pilot ProjectCross-Chain and Protocol DevelopmentsDeBridge to Launch DBR Token on SolanaBlockchain and Real-World AssetsLisk and Backed Finance Partner for RWA AdoptionMinima and Mercury FX Challenge SWIFT with BlockchainGaming and Layer-1 SolutionsPixelRealm Launches L1 Using Saga’s TechnologyLayer-2 Blockchain LaunchesHemi Labs and RACE Launch Ethereum Layer-2 BlockchainsFunding and DevelopmentCaldera Raises $15M for Metalayer DevelopmentRiskLayer Secures Funding for DeFi Security MiddlewareMarket Expansion and IPOsFold Plans Nasdaq Listing Via SPAC MergerExchange Security and User ProtectionWazirx to Reopen After Major Security BreachTerra/LUNA Collapse Victims Must File Claims by August 21Monoswap Hacked, Users Urged to Withdraw FundsNFT and DeFi ActivityOptimism Sees Surge in NFT Trading and DeFi ActivityKraken and Bitstamp to Distribute Mt. Gox ProceedsKraken has completed the distribution of Mt. Gox Bitcoin credits, while Bitstamp is set to start distributing Mt. Gox proceeds on Thursday. Bitcoin remained steady above $66K despite a miss in US wholesale inventory growth, supporting falling inflation. A smart trader accumulated $45 million worth of BTC in a week, signaling a buy opportunity. Crypto analysts predict Bitcoin's price to hold at $66K due to strong demand from hodlers.Ethereum ETFs See Strong Volume Despite Price DipEthereum ETFs recorded a solid volume of $1.1 billion and $107M inflow on their debut day in the U.S., but ETH price declined slightly. Grayscale’s ETHE experienced a $484 million outflow, yet BlackRock's ETHA led with $266.5 million inflows. Despite this, large holders amassed 112.9K ETH worth $390 million, outpacing ETF inflows. On-chain data indicated increased whale activity, suggesting limited downside. Bitwise committed to donating 10% of its ETF profits to Ethereum developers, supporting Protocol Guild and PBS Foundation. Over the past 24 hours, ETH hovered near $3,430. Bitcoin Spot ETFs Experience Significant OutflowsBitcoin spot ETFs saw a significant shift on July 23, with outflows totaling $77.9 million after twelve days of consecutive inflows. Grayscale's GBTC led with a $27.3094 million outflow, while BlackRock's IBIT captured 67% of the market share, indicating strong investor preference despite average trading volumes.Kamala Harris Will Not Attend Bitcoin ConferenceBitcoin Magazine CEO David Bailey announced that Kamala Harris would not attend the Bitcoin Conference in Nashville. Following this news, Bitcoin's price surged above $67,000 at one point as attention shifted to other political figures like Donald Trump. Bailey highlighted potential implications for the crypto industry under different leadership scenarios.Tesla and SpaceX Maintain Substantial Bitcoin HoldingsElon Musk's companies, Tesla and SpaceX, maintain substantial Bitcoin holdings with Tesla holding $640.9 million in Bitcoin as of Q2 2024, reporting no sales during this period. SpaceX also holds approximately $550 million worth of Bitcoin. This reinforces Musk's steadfast support for cryptocurrency amid ongoing speculation.BlackRock and Others Compete for Ethena's RWA FundBlackRock's BUIDL and other funds are vying for Ethena's $45 million reserve fund allocation, aiming to invest in Ethereum-based Real World Asset (RWA) products. Ethena plans to allocate $45 million from its reserves, attracting interest from various DeFi protocols seeking stable asset investments. This move reflects a growing trend in DeFi towards tokenized RWAs for enhanced investment diversification and stability.Coinbase to Launch Tokenized Money-Market FundCoinbase Asset Management is reportedly launching a tokenized money-market fund, diving into blockchain's trending area of tokenization. Following BlackRock's success with a $500 million tokenized U.S. Treasuries fund, Coinbase aims to leverage blockchain for transparent, liquid assets. This move expands their push into tokenizing traditional assets, initially approved by Abu Dhabi regulators.Franklin Templeton’s Solana Endorsement Sparks ETF SpeculationFranklin Templeton's endorsement of Solana has sparked speculation about a potential Solana ETF. Following the success of its Bitcoin and Ethereum ETFs, Franklin Templeton sees Solana's growing adoption and technological advancements as promising for a future ETF. Industry experts anticipate decisions on Solana ETF applications by mid-March 2025, pending regulatory approvals and political factors.Ferrari Expands Crypto Payments to European DealersFerrari expands its crypto payment initiative to European dealers, following a successful US launch last year. Embracing Bitcoin, Ethereum, and USDC, the move targets tech-savvy clientele but faces challenges like regulatory uncertainty and energy concerns. Partnering with BitPay ensures smooth transactions, shielding dealers from crypto price volatility and enhancing customer trust in financial innovation.Jingdong to Launch Stablecoin Pegged to HK DollarJingdong Coinlink Technology Hong Kong Limited plans to launch a stablecoin pegged 1:1 to the Hong Kong dollar, emphasizing secure, cost-effective payments within regulatory guidelines. The initiative aims to leverage highly liquid assets stored in licensed financial institutions and collaborate with global regulators.dYdX Restores Website After DNS Hijacking IncidentdYdX swiftly restored its v3 website following a DNS hijacking incident on July 23. Users were urged to clear browser caches to avoid the compromised version. The exchange resumed normal operations within three hours, assuring users that its core protocols remained secure despite the website disruption.LayerZero Rewards Sybil Bounty HuntersLayerZero is preparing to distribute rewards to Sybil bounty hunters starting July 25, following its proactive stance against Sybil attacks. After identifying over 800,000 suspected Sybil addresses, the blockchain interoperability giant engaged community members in a bounty program. Rewards, set at 10% of the token allocation per identified address, will be distributed directly into hunters' wallets at 13:00 UTC.Render's Price Falls Amid Whale Sell-OffsRender's price has plummeted to $6.5 amid significant sell-offs by whales and long-term holders, totaling 30 million tokens in just a week. This extensive offloading has shaken investor confidence, hindering any recovery above the $7.0 support level. The situation suggests ongoing bearish sentiment and potential further declines in the near term.COTI Chosen for Israel’s CBDC Pilot ProjectCOTI has been selected by the Central Bank of Israel for its CBDC pilot project, elevating its status alongside major players like PayPal and Fireblocks. This endorsement has driven a notable 8.19% price surge at one point, backed by a significant volume increase of 950.61%. Analysts foresee further bullish momentum, with technical indicators suggesting a potential doubling in value soon.DeBridge to Launch DBR Token on SolanaDeBridge, a cross-chain transfer service, will soon launch its DBR governance token on Solana following a snapshot of user activity. This token aims to reward users based on past fees and transaction volumes, enabling voting on protocol decisions. Since April, DeBridge has facilitated over 2.3 million transactions worth $2 billion across Ethereum, Solana, and other networks.Lisk and Backed Finance Partner for RWA AdoptionLisk and Backed Finance have partnered to accelerate the adoption of real-world assets (RWA) in emerging markets. Leveraging Lisk’s blockchain and Backed’s tokenization expertise, they aim to enhance economic growth and financial inclusion. Backed ecosystem partners gain access to Lisk’s incubator, fostering innovation with grants up to $100,000 in LSK tokens for eligible projects utilizing Backed’s solutions on Lisk’s platform.Minima and Mercury FX Challenge SWIFT with BlockchainMinima and Mercury FX are teaming up to challenge SWIFT with blockchain technology. Their collaboration aims to improve global financial communications and overhaul international payments. Using Minima's Maxima protocol, they promise enhanced security, faster transaction times, and decentralized operations. This initiative seeks to set a new standard in efficiency and security for global financial messaging.PixelRealm Launches L1 Using Saga’s TechnologyPixelRealm, an Omnichain Gaming platform, is transitioning from an L2 rollup to launching its own L1 using Saga's technology. This collaboration enables PixelRealm to offer flexible gas fees, high transaction speeds, and scalability crucial for gaming applications. It showcases Saga's ability to empower gaming platforms with customized L1 solutions, providing developers enhanced control and efficiency.Hemi Labs and RACE Launch Ethereum Layer-2 BlockchainsHemi Labs unveiled the Hemi Network, a modular layer-2 blockchain enhancing scaling, security, and interoperability for Bitcoin and Ethereum, co-founded by Jeff Garzik and Max Sanchez. Meanwhile, RACE launched its Ethereum layer-2 blockchain on Optimism's OP Stack, joining Optimism's Superchain to tokenize and distribute real-world assets.Caldera Raises $15M for Metalayer DevelopmentCaldera has secured $15 million in Series A funding, led by Founders Fund and joined by Dragonfly, Sequoia Capital, and others, bringing their total raised to $25 million. Their Metalayer aims to unify rollups across major Ethereum frameworks, supporting 60+ projects with $800 million TVL and 59 million transactions, streamlining blockchain deployment and scalability.RiskLayer Secures Funding for DeFi Security MiddlewareRiskLayer has secured a Builders Round led by Antler to develop DeFi Security Middleware on EigenLayer, aiming to bolster economic security. This funding will advance RiskLayer's Actively Validates Services (AVS) infrastructure, enhancing risk management for DeFi protocols and users. Notable investors include Wagmi Ventures and Hypotenuse Ventures.Fold Plans Nasdaq Listing Via SPAC MergerFold, a Bitcoin rewards app, plans to go public on Nasdaq via a merger with SPAC Emerald Acquisition Corp. The app offers a cashback debit card that provides Bitcoin rewards, processing over $2 billion in volume and distributing $45 million in rewards. This move signifies the growing trend of crypto-based businesses entering the public market. WazirX to Reopen After Major Security BreachIndian exchange WazirX plans to reopen withdrawals, deposits, and trading following a major security breach involving $230 million. Co-founder Nischal Shetty announced a poll for user input on the approach, alongside efforts to recover stolen tokens with a $23 million bounty program. INR funds remain unaffected amid ongoing recovery initiatives.Terra/LUNA Collapse Victims Must File Claims by August 21Victims of the Terra/LUNA collapse must file crypto loss claims by August 21 to participate in bankruptcy voting. Failure to meet this deadline forfeits voting rights on the debtor’s plan, though future claim submissions will still be accepted. The process involves submitting forms to Epiq Corporate Restructuring online or by mail.Monoswap Hacked, Users Urged to Withdraw FundsMonoswap suffered a malicious hack, prompting a warning to users against depositing new funds or opening positions. The attack, involving a developer's compromise by phishing, allowed hackers access to platform wallets. Monoswap urges immediate fund withdrawals and caution against interacting with suspicious links. Investigations are ongoing to mitigate losses and enhance security measures. Top Altcoin Gainers and LosersGainers: Flow FLOW (+14.83%) Ethena ENA (+13.62%) Popcat POPCAT (+11.48%) Losers:Ethereum Name Service ENS (-4.42%) Celestia TIA (-3.09%) Lido DAO Token LDO (-2.85%) NFT Market MapOptimism Sees Surge in NFT Trading and DeFi ActivityOptimism (OP) recently saw a significant surge in NFT trading activity, reaching a monthly high of $547,000, marking a 475% increase from the previous day. The Layer 2 network also reported a 15% rise in DeFi total value locked (TVL) and a 17% increase in decentralized exchange (DEX) transaction volume over the past week.This article has been refined and enhanced by ChatGPT.