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Discover the excitement and rewards that await you at Stake.com with deposit bonus!Crypto Market UpdateTable of ContentsMarket and Token PerformanceBitcoin Price Plummets Post-ETF ApprovalEthereum ETF Delays and Market ComplexitiesNew Highs in DeFi Tokens Sui and CelestiaRecord Trading Volume in Crypto Investment ProductsExchange and Platform DevelopmentsBitfinex Foils Major XRP Exploit AttemptGoogle Cloud Joins Flare Blockchain as ValidatorFTX Token Rebounds Amid Bankruptcy ProceedingsSolana Faces Price Drop and Liquidation ChallengesFantom Lowers Validator Requirements for AccessibilityRegulatory and Global Crypto LandscapeTether's USDT Linked to Money Laundering in AsiaVenezuela Discontinues Petro CryptocurrencyPolygon Advances with zkEVM Stage 2 BetaAvalanche's ASC-20 Tokens Gain PopularityUSDC Wallet Growth Despite Market Cap DropSenator Warren Criticizes Coin Center's Hiring PracticesOpenSea 2.0 Upgrade Targets NFT Tracking Across BlockchainsGameStop Closes NFT Market Reflecting Industry Shifts Bitcoin Price Plummets Post-ETF ApprovalPost-ETF approval, Bitcoin's price dropped sharply from $48.9K to $41.5K, influenced by negative U.S. market sentiment and significant outflows from Grayscale. The Crypto Fear & Greed Index hit 'neutral', reflecting changing sentiments. Bitcoin's market cap fell by $83.91 billion, underperforming against ETH and altcoins despite the upcoming halving event. Spot Bitcoin ETFs attracted less than 0.1% of Bitcoin’s market cap, indicating mixed reactions and cautious investor approach. The realized price of 1 to 3-month-old Bitcoin holders, sitting at around $36,700, could act as a potential support level if the current correction continues, as per CryptoQuant Head of Research Julio Moreno.Ethereum ETF Delays and Market ComplexitiesThe Ethereum market faces regulatory delays, with the SEC likely postponing ETF approvals until post-2024 elections. Interest in Ethereum ETFs surges, led by positive sentiments from influential figures like BlackRock's CEO. Meanwhile, Celsius Network's $125 million Ethereum transfers to exchanges raise concerns about market stability. Legal developments around former Celsius CEO Alex Mashinsky, facing securities fraud charges, add to the sector's complexity, highlighting the intricate dynamics at play.New Highs in DeFi Tokens Sui and CelestiaSui's token hit a new high of $1.45, buoyed by the DeFi boom. Celestia's TIA reached $20, entering the top 40 tokens, driven by its innovative blockchain network. Arbitrum's XAI gaming token surged 35%, reaching $1.12, post-airdrop, doubling its airdrop value to $140 million.Record Trading Volume in Crypto Investment ProductsCrypto investment products hit a record $17.5 billion trading volume last week, with U.S. spot bitcoin ETFs driving a significant $1.18 billion inflow. Bitcoin funds dominated, capturing 98% of these inflows. Meanwhile, XRP saw a 244% surge in fund inflows, totaling $2.2 million, amid speculation of an upcoming XRP ETF, highlighting a shift in investor focus and regional dynamics.Bitfinex Foils Major XRP Exploit AttemptBitfinex thwarted a $15 billion XRP "Partial Payments Exploit" attack, securing against an attempt to move 25.6 billion XRP. The attack failed due to Bitfinex's proper handling of data, clarified as only moving a few cents. Ripple's former director of engineering verified the transaction's insignificance, and on-chain data revealed a failed similar attempt on Binance. XRP's price remained steady, with a 77% spike in trading volume. Google Cloud Joins Flare Blockchain as ValidatorGoogle Cloud has joined Flare blockchain as a validator and infrastructure provider, contributing to the Flare Time Series Oracle. Flare's native token, FLR, saw a 4% jump to around $0.018 after the partnership announcement. The network's market cap is nearly $550 million. Flare aims to provide decentralized data access to developers through its Oracle system. FTX Token Rebounds Amid Bankruptcy ProceedingsFollowing a decline, bankrupt FTX's native token FTT rebounded to a market cap over $1 billion. The rise was attributed to a recent 27% surge, linked to a broader crypto market uptrend. Meanwhile, FTX customers are contesting the exchange's plan to dollarize their digital asset claims, arguing it would deprive them of significant accrued gains. Solana Faces Price Drop and Liquidation ChallengesSolana's price dropped by 8%, leading to a $7 million liquidation in long positions and contributing to the crypto market's $88 million liquidation. Solana's transaction volume and active network addresses decreased. A proposal to deploy Aave v3 on Neon EVM aims to expand lending on the Solana blockchain, leveraging its liquidity and initially launching with limited assets and conservative risk parameters. Fantom Lowers Validator Requirements for AccessibilityThe Fantom blockchain has reduced its validator self-stake requirement from 500,000 to 50,000 FTM, aiming to increase accessibility. The move is expected to boost network security with more validators, maintain performance, and not compromise decentralization. The consensus mechanism, Lachesis, facilitates independent transaction confirmations and expects a faster transaction distribution. Tether's USDT Linked to Money Laundering in AsiaA UN report reveals that Tether's USDT is increasingly used for money laundering in East and Southeast Asia, particularly in the online casino industry. This comes as Tether faces scrutiny globally. With a market cap of over $95 billion, USDT is the world's third-largest cryptocurrency. USDC, the second largest stablecoin, has a $25.5 billion market cap. Venezuela Discontinues Petro CryptocurrencyVenezuela has officially halted the Petro cryptocurrency after six years due to limited adoption, skepticism, and a corruption scandal. The project aimed to counter US sanctions but faced numerous challenges. The Petro's demise coincides with a crackdown on crypto mining and economic difficulties, leaving Venezuela to navigate the implications for its crypto landscape. Polygon Advances with zkEVM Stage 2 BetaPolygon zkEVM enters Stage 2 Beta with a two-month timeframe, aiming to onboard 30-50 projects and enhance network throughput. This phase sets the stage for further engagement campaigns in Stage 3. As part of the multichain ecosystem, zkEVM prioritizes DeFi activities, facing competition from Arbitrum One and zkSync Era in the Ethereum Layer 2 space. Avalanche's ASC-20 Tokens Gain PopularityAvalanche's ASC-20 tokens are gaining traction, with the AVAV project experiencing rapid growth, drawing over 585,000 listeners to a Bitget-hosted Twitter Space. The protocol facilitates the creation and trading of customized tokens with lower transaction fees and a mechanism for returning unresolved funds. Meet high market demand, surging 2,000% within a week. USDC Wallet Growth Despite Market Cap DropCircle's State of the USDC Economy report showcases a 59% growth in wallets holding USDC, amounting to 2.7M. Usage for leveraged trading has dropped by over 90% since 2019. Despite a major market cap drop from $56B to $24B, USDC has rebounded and currently holds the seventh position among digital assets. Senator Warren Criticizes Coin Center's Hiring PracticesSenator Elizabeth Warren criticized Coin Center for hiring former officials, alleging their role in undermining efforts on cryptocurrency regulations. Coin Center's director, Jerry Brito, declined to address Warren's concerns, asserting the organization's right to lobbying as freedom of speech. The industry criticized Warren for seeking help from a banking lobbying group to draft legislation. Top Altcoin Gainers and LosersGainers:Flare FLR (+22.93%)Sui SUI (+12.22%)Beam BEAMX (+9.45%)Losers:Kaspa KAS (-3.18%)Bonk BONK (-3.28%)Optimism OP (-3.26%) NFT Market Map OpenSea 2.0 Upgrade Targets NFT Tracking Across BlockchainsOpenSea 2.0 upgrade aims to enhance NFT tracking across blockchains amid mainstream adoption. OpenSea's CEO foresees limited growth potential for NFTs on Bitcoin due to its energy-intensive consensus. Solana's impact on NFTs is monitored, but Ethereum remains dominant with liquidity and exclusive collections like Bored Ape Yacht Club and CryptoPunks. The revamp addresses increased competition and aims to redefine NFT use cases. GameStop Closes NFT Market Reflecting Industry ShiftsGameStop shuts its NFT market amid broader industry shifts mirroring Twitter's NFT changes. NFT prices plunge in 2023, yet sales spike by 445%, signaling a demand for affordable options. The market moves from high-value corporate NFTs to accessible and diverse digital assets, reflecting a shift towards utility and affordability over speculation. This article has been refined and enhanced by ChatGPT.