According to Blockworks, the Ethereum Community Conference (EthCC) in Brussels this week highlighted a growing sentiment among attendees that the focus on crypto infrastructure has overshadowed the development of consumer applications. Despite Ethereum's role in popularizing smart contracts and NFTs, many felt that consumer apps were underrepresented at the event. The social lead of the Milk Road newsletter noted a consensus that the industry needs more usable apps rather than additional infrastructure. Emmanuel Awosika, director of 2077 Collective, expressed excitement that people are finally acknowledging the necessity of consumer apps. A.J. Warner from Offchain Labs observed a significant focus on interoperability and cross-chain solutions over novel user applications at the conference. While compelling consumer apps are still lacking, the desire for them is evident, as shown by the Arbitrum DAO's plan to invest $215 million in crypto gaming projects. Electric Capital general partner Maria Shen released a market map categorizing over 1,500 crypto projects, with more than one-third labeled as apps. However, some argue that the industry should first master its original use case of payments before moving on to more complex applications. Mustafa Al-Bassam, CEO of Celestia Labs, emphasized this point. Despite the current gap, there are crypto apps with real users, such as Telegram games on the TON blockchain and Solana blinks that allow users to play Pokemon onchain within their X feed. In related news, Story Protocol announced the launch of the world's first intellectual property blockchain, allowing creators to upload and monetize their intellectual property. Co-founder S.Y. Lee emphasized that the protocol aims to provide a clear use case, unlike many other defi chains and apps. Additionally, Farcaster's daily active users reached an all-time high, and blockchain analytics firm Elliptic linked

According to BlockBeats, monitoring data from Lookonchain reveals significant transactions involving the address 0x3737. Since June 27, the address has purchased 1,465 MKR tokens at an average price of $2,476, totaling approximately $3.63 million. Previously, the same address bought 1,884 MKR tokens at $1,157 each and sold them at $1,406, earning a profit of around $468,000. In addition to MKR, the address 0x3737 holds 3.58 trillion PEPE tokens, valued at approximately $30.87 million. The address has also profited over $30 million through trading PEPE tokens.

According to Odaily, Abra CEO Bill Barhydt has revealed a growing trend among medium-sized companies and nonprofit organizations to convert their assets into Bitcoin. This shift follows the successful strategy adopted by MicroStrategy (MSTR), whose stock has appreciated significantly due to its substantial Bitcoin holdings. Barhydt predicts that many medium-sized companies and nonprofits with large dollar reserves will convert these reserves into BTC. Additionally, he anticipates that the stock prices of these companies will mirror the upward trend seen in MicroStrategy's stock following its Bitcoin acquisitions.

According to CryptoPotato, a Dutch court has denied bail for Tornado Cash developer Alexey Pertsev, who was convicted of money laundering in May. This decision marks a significant setback for Pertsev, who has been held in custody for the past two months without computer or internet access, despite requests to facilitate his defense preparation. The Court of Appeal of ‘s-Hertogenbosch ruled that Pertsev will remain in custody as he prepares for his appeal. Despite his defense lawyers, Keith Cheng and Judith de Boer, arguing that Pertsev is not a flight risk and needs internet access to prepare his case, the court maintained that his detention would not hinder his ability to prepare his defense. Cheng reportedly stated, “The court says that continuing his detention does not obstruct his possibility to prepare his defense.” De Boer, however, believes that in a case involving such fundamental legal questions, pre-trial detention is “unacceptable.” She added, “This unprecedented case addresses when a software developer can be criminally liable for third-party misuse which will benefit the entire legal system.” At a hearing last month, Cheng revealed that he had outlined 18 points for Pertsev’s appeal that needed computer access, which was required by the court to process the request. However, the request for the developer’s release from detention was denied. Cheng had previously submitted a similar request to the prison where Pertsev is held, which was also turned down. The defense lawyer explained that providing a computer and other facilities would violate the prison’s safety policy. Despite presenting the prison’s refusal to the court, the appeal was unsuccessful. Authorities in Amsterdam arrested Pertsev in August 2022 for suspected involvement in hiding criminal funds and aiding money laundering by using the Ethereum decentralized mixing service. A Dutch judge at the Court of Appeal ‘s-Hertogenbosch found the 31-year-old Russian developer guilty for his role in the development of Tornado Cash in May this year and sentenced him to 64 months in prison.

On Jul 13, 2024, 14:05 PM(UTC). According to Binance Market Data, BNB has dropped below 530 USDT and is now trading at 529.900024 USDT, with a narrowed narrowed 0.02% increase in 24 hours.

According to BlockBeats, a newly created address, identified as 0x517, has accumulated 10,545 ETH within the past three hours. The total value of this accumulation is approximately $33.29 million, with an average transfer price of $3,156 per ETH. The address executed five identical transfer operations, suggesting it may belong to an institution.

According to BlockBeats, on July 13, data from Magiceden indicates that the floor price of the NFT project SEND IT has dropped to 0.19 SOL. This represents a 46.17% decrease over the past 24 hours. The decline is speculated to be influenced by the release of the tokenomics for the Solana Blinks ecosystem meme project SEND.

According to Odaily, the German government now holds Bitcoin valued at $16. Previously, it was reported that the government received 0.0000321 Bitcoin, worth approximately $1, from an unidentified individual.

According to BlockBeats, on July 13, Cointelegraph reported that following a recent court ruling in Illinois categorizing Bitcoin and Ethereum as commodities, cryptocurrency advocates are urging the Nigerian Securities and Exchange Commission (SEC) to adopt a similar approach in its regulatory framework. Lucky Uwakwe, Chairman of the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), stated that foundational cryptocurrencies like Bitcoin and Ethereum have become highly valuable commodities, and assets can be priced using them. He emphasized that Bitcoin and Ethereum require a different regulatory approach compared to other cryptocurrencies. By classifying Bitcoin and Ethereum as commodities, the Nigerian SEC can provide the much-needed clarity and stability in the market, encouraging innovation while ensuring regulatory compliance.

According to Odaily, Coin98 Analytics reports that 521 cryptocurrency projects successfully secured funding in the second quarter of 2024, with the total amount exceeding $3.56 billion. Among these projects, Monad achieved the highest funding. This marks an increase of 52 projects compared to the previous quarter. Notably, 141 projects did not disclose their funding amounts.

According to U.Today, Litecoin (LTC) has demonstrated superior on-chain activity compared to other notable cryptocurrencies, including Dogecoin (DOGE). Data from IntoTheBlock reveals that Litecoin processes an impressive $2.85 billion in transactions over $100,000 daily, averaging more than 50% of its market cap. This significant figure surpasses the transaction volume of major layer-1 blockchains, indicating substantial whale activity on the Litecoin network. The daily transaction volume of high-value transactions on the Litecoin network highlights robust activity among large holders, or whales. This suggests that institutional investors or high-net-worth traders have a strong presence in the Litecoin ecosystem, using it for significant transfers. The confidence of these whales in Litecoin's long-term outlook is evident from their active participation. In contrast, Dogecoin, despite having a market capitalization almost three times that of Litecoin, has a significantly lower volume of large transactions. Dogecoin processes nearly $590 million in transactions over $100,000 daily. This disparity indicates that while Dogecoin has a substantial market cap, its on-chain activity, particularly in large transactions, is relatively modest. This further underscores the unique use cases and community engagement each coin attracts. Dogecoin, as a leading meme coin, has garnered a notable following, often driven by social media trends and celebrity endorsements. However, data from IntoTheBlock shows that Dogecoin's utility in major transactions is limited compared to Litecoin. The rising whale activity in Litecoin may have several implications. Historically, crypto whales can influence market dynamics due to the size of their holdings. Their active participation in the Litecoin market reflects growing confidence in its stability, security, and potential for future growth.

According to U.Today, Solana (SOL) has released a new promotional video titled 'Solana is for Everyone,' highlighting the blockchain's inclusive approach. The video, featuring prominent crypto influencer SolJakey, showcases various milestones achieved by the Solana ecosystem. The promo, set to the iconic 2009 Black Eyed Peas' hit 'I Gotta Feeling,' humorously portrays Tesla's Cybertruck in a semi-ironic manner. In the video, an upper-middle-class American driving a Tesla Cybertruck accidentally hits SolJakey, who is depicted as a partygoer riding a bicycle equipped with a VR set. The driver, wearing Solana merchandise, offers to compensate SolJakey for the damaged bicycle and VR set using Solana's wallet. The transaction is completed within seconds via QR-code sharing, and the driver gives SolJakey a ride. The video satirizes the obsession with high-tech devices and includes references to recent developments within the Solana ecosystem in Q3 2024. Both characters in the video express excitement about Solana Blinks, new blockchain objects that can initiate Solana Actions and specification-compliant APIs for transactions on the Solana network. Currently, Solana is hosting Blink Build Days, a series of offline meetups aimed at introducing developers and users to the new concept. Despite the price of Solana (SOL) struggling to recover to $140, with a 2.39% decline in the last 24 hours, the blockchain's total value locked (TVL) has surged by over 10% in less than a week, increasing from $4.02 billion to $4.45 billion. This growth follows several major upgrades in Q2 2024, including the introduction of ZK Compression, which is expected to enhance overall performance by 10,000 times.

According to U.Today, Jan Happel and Yann Allemann, cofounders of the cryptocurrency analytics platform Glassnode, suggest that another altcoin season may be approaching. The analysts highlighted a recent 2% decline in the tech-heavy Nasdaq index, while the iShares Russell 2000 ETF (IWM), which includes small-cap stocks, rose by more than 3%. This trend indicates that investors are favoring riskier assets with the potential for higher returns. The analysts compared the current market conditions to those of November 2020, when the small-cap sector began to surge and continued to gain momentum in the following months. They believe a similar pattern could emerge in the cryptocurrency market, with capital potentially rotating into altcoins. "Will we see the same again? Will rotation create a massive rally in Alts? We think that may well happen!" the analysts stated. In related news, the Bitcoin market recently entered "extreme fear" territory for the first time in over a year, influenced by selling in Germany and Mt. Gox repayments. Despite positive macro-financial signals, such as lower-than-expected U.S. inflation, Bitcoin's price struggled to surpass the $60,000 resistance level. Amidst this, XRP distinguished itself with a 4% price increase over the past 24 hours, following the introduction of CME Group's real-time indices and reference rates for Ripple-affiliated cryptocurrencies. XRP is currently the best-performing cryptocurrency in the top 100, while Bitcoin's dominance stands at 50.9%, according to CoinGecko data.

According to U.Today, Cardano (ADA) is gearing up for the much-anticipated Chang upgrade, with several new releases activated ahead of this significant milestone. Ktorz, the technical director at Cardano Foundation, has informed the Cardano community about a new release for Ogmios, a lightweight bridge interface for a Cardano node that offers a WebSockets API enabling local clients to interact with Ouroboros' mini-protocols via JSON/RPC. In a tweet, Ktorz announced that Ogmios is now ready for the Chang 1 update with the release of version 6.5.0. This latest release is compatible with the recently launched Cardano node 9.0.0 and includes a new ledger state query for treasury and reserves, as well as new protocol parameters covering the new reference script fee and maximum size. Ktorz also noted that the formula for fee calculation is changing in Conway, with script references now priced in as part of the minimum transaction fee. The release notes include an annex outlining the new equation and some plots offering a sense of its impact. The Cardano ecosystem is on the brink of a major transformation with the upcoming Chang upgrade. This pivotal upgrade aims to enable decentralized governance on the Cardano blockchain, firmly based on the Voltaire-era ideals outlined by Cardano's roadmap and detailed in CIP-1694. The upgrade will be carried out in two major phases, Chang 1 and Chang 2, each introducing critical governance aspects that will give the community a meaningful say in the protocol's development. Chang Upgrade 1 will add governance features to Cardano and start the technical bootstrapping phase, as outlined in CIP-1694. Chang Upgrade 2 will remove CIP-1694 from the technical bootstrapping process, allowing for complete on-chain governance functionality, including DRep participation and governance actions.

According to U.Today, trading legend Peter Brandt has issued a critical advisory regarding leveraged and inverse exchange-traded funds (ETFs). Brandt, known for his extensive market experience, expressed a strong aversion to these financial instruments, likening them to gambling. He emphasized that these ETFs represent bets on volatility rather than price direction, indicating a preference for shorting these instruments as part of a strategic risk management approach. Brandt's perspective, shaped by 50 years of market experience, underscores the importance of distinguishing between sound and unsound risk. He noted that speculators attracted to leveraged and inverse ETFs often seek quick profits, a mentality he advises against. Brandt's comments highlight the need for careful consideration when engaging with these financial products. In contrast, Brandt pointed out that Bitcoin ETFs do not fall under the same category as leveraged and inverse ETFs. He suggested that trading Bitcoin ETFs is not as risky, provided one adheres to sound trading principles. Despite this, Bitcoin ETFs continue to see significant trading activity. On July 11, the total net inflow of spot Bitcoin ETFs was $78.93 million, marking a five-day trend of positive net inflows. Specifically, the Grayscale ETF (GBTC) experienced a single-day outflow of $37.69 million, while the BlackRock ETF (IBIT) and the Fidelity ETF (FBTC) saw single-day inflows of $72.09 million and $32.69 million, respectively.

According to U.Today, Ethereum, the second-largest cryptocurrency by market capitalization, has experienced a significant increase in its valuation. Data from Glassnode reveals that Ethereum's market cap has surged by $354 billion, or 267%, since November 2022. This information is part of a report titled 'Digital Assets: Insights and Market Trends,' jointly published by CME Group and Glassnode, which provides a comprehensive overview of the digital asset landscape. The report highlights that Ethereum currently has a market capitalization of $451 billion. The overall altcoin ecosystem, which includes Ethereum, has a total market capitalization of $611 billion. Ethereum remains the leading asset in the altcoin sector, accounting for 41.7% of the market. The report also notes that validators have staked 32.2 million ETH as collateral, representing approximately 27% of the circulating ETH supply. The quantity of ETH staked has generally increased over time, with only a few instances of decline. The transition to a proof-of-stake consensus mechanism, known as The Merge, was completed in September 2022. This shift, along with the EIP1559 burn mechanism, has resulted in a reduction of the ETH supply by 343,000 ETH since The Merge. The report also provides insights into Ethereum's market performance following the Bitcoin halving event. In the 365 days after the halving, Ethereum's market performance has been more diverse, with significant fluctuations in its price. The 2016 cycle saw a 45% decline before a 3,400% increase, while the 2020 cycle saw the price more than double in the immediate months after, continuing to climb by 2,150%. Ethereum's drawdown profile has experienced deeper corrections compared to Bitcoin. The largest loss in the 2022-2024 cycle so far has been 42%, with previous cycles witnessing corrections greater than 65% during both the early and late stages of macro bull markets.

According to U.Today, the top three news stories over the past day include significant developments for XRP, Shiba Inu, and Cardano. Here's a detailed look at each of these updates. XRP Price Surge Predicted by Bollinger Bands A recent analysis of the XRP price chart suggests that the Ripple-affiliated token could be on the verge of a significant price surge. The Bollinger Bands, a technical indicator created by trader John Bollinger, are currently experiencing a notable narrowing. This narrowing often signifies a period of low volatility that precedes major price movements. Historical data shows that similar narrowing occurred in 2017, leading to a 55,000% increase in XRP's value, peaking at $3.30 per token by early 2018. Another narrowing in late 2020 saw XRP reach nearly $2 per token by April 2021. The ongoing narrowing, which began in November 2022, suggests a potential increase in XRP's value in the near future. Major Shiba Inu Update Teased by SHIB Team Member In a recent post on X, Lucie, the marketing lead for Shiba Inu, shared details about a major product that the SHIB development team plans to launch on Shibarium soon. Lucie described the Shib ecosystem as a hub for innovation driven by blockchain technology and a dedicated community. At the core of this hub will be the SHIB Marketplace, a decentralized platform designed to democratize power among its users rather than centralized corporations. Key features of the new SHIB product include financial autonomy, where smart contracts eliminate intermediaries, and active participation, allowing users to shape the marketplace. However, Lucie did not provide a launch date for the SHIB Marketplace. Ultra-Bullish Cardano Price Pattern Observed Cardano has recently caught the attention of market observers by forming an interesting pattern on its price chart. ADA has reached a crucial price level of $0.35, which has consistently served as a pivotal support or resistance point. Last week, ADA's price held firm at this level after a 12% plunge, and the weekly candle closed above this mark. This stability sparked a 15.3% increase in ADA's price over the next four days, despite relatively low trading volumes. This pattern suggests a potential ultra-bullish trend for Cardano that has largely gone unnoticed. As ADA maintains its stability at this critical support level and begins to rise, it may attract more investor interest.

According to U.Today, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu (SHIB) ecosystem, recently granted his first interview, outlining a bold vision for the project's future. Kusama addressed speculation regarding his identity, clarifying he is not tech entrepreneur Elon Musk, despite past cryptic messages. However, his closing remark on his X page – 'Wen conversation Elon Musk? lol' – hinted at a potential future dialogue. Kusama's recent appearances at conferences in Japan and India focused on ambitious expansion plans for the Shiba Inu ecosystem. Building on the groundwork laid by founder Ryoshi, the team has cultivated a thriving decentralized community within the Web3 landscape. Their ultimate objective is to establish the first trillion-dollar decentralized economy. Shiba Inu (SHIB) currently sits in 13th place in the ranking of top cryptocurrencies by market capitalization according to CoinMarketCap, with a figure of $9.56 billion. As of July 12, 2024, SHIB is priced around $0.00001649, reflecting a slight increase of around 2% compared to the previous 24 hours. Meanwhile, DOGE boasts a market cap of roughly $15.48 billion. To claim the top meme spot, the Shiba Inu token still needs a staggering increase of 63% at minimum. This climb for sure will not be a walk in the park. As things stand, SHIB's price would need a substantial boost, or DOGE's price would have to take a tumble, for the former to close the gap.

According to U.Today, the price of Shiba Inu (SHIB) has experienced a notable increase alongside the broader cryptocurrency market. At the time of writing, SHIB has risen by 5% in the last 24 hours to $0.00001682 and has seen a 10% increase over the past week. This upward trend has been consistent since hitting a low of $0.00001266 on July 5, with six out of the last eight days showing positive movement. However, on-chain data indicates that Shiba Inu may face a significant challenge ahead. Data from IntoTheBlock reveals that a substantial 424.11 trillion SHIB were purchased by 30,730 addresses within the price range of $0.000017 to $0.000019, with an average price of $0.000018. This range represents a major resistance level that could impede further upward movement. The large volume of SHIB held in this range suggests that many holders might be looking to sell their tokens to break even, creating selling pressure that could slow down the price increase. For Shiba Inu to overcome this resistance, bulls will need to attract enough buying interest to counteract the selling pressure and push the price past this critical range. The coming days will be crucial for the bulls as they attempt to maintain SHIB's upward trajectory. If holders within this resistance range decide to hold rather than sell, it could reduce selling pressure and potentially trigger a price breakout. Traders should monitor the situation closely to see if Shiba Inu bulls can prevail against the resistance. If SHIB manages to break through the 424.11 trillion SHIB wall, it could pave the way for further gains. However, if the resistance remains unbroken, a price retracement might occur, or SHIB could continue trading within its current range for an extended period. As the trend develops, it will be important to analyze technical and on-chain data to gauge market sentiment and predict the likely movement of Shiba Inu's price.

According to U.Today, Saxony, a state in eastern Germany, has fully liquidated its Bitcoin holdings. This selling activity has been a significant bearish factor for Bitcoin since June. Last week, Bitcoin's price fell below $64,000, marking its lowest level in approximately five months. Saxony initially owned 50,000 Bitcoins, which were confiscated earlier this year from the operators of the Movie2K piracy website. Following the confiscation, Germany became one of the top Bitcoin holders among governments, trailing only the U.S., China, and the U.K. However, with Saxony's recent sales, Germany no longer holds any Bitcoin. These sales were absorbed by Bitcoin ETF investors, who took advantage of the price dip. On Thursday, Bitcoin ETFs recorded an additional $79 million in inflows, marking their best week since May with $882 million in total inflows. The selling spree has drawn criticism from the Bitcoin community. Joana Cotar, a pro-crypto Member of Parliament in Germany, called for a halt to the sales, suggesting that holding Bitcoin would benefit the state. Despite the end of Saxony's Bitcoin sales, other challenges remain, such as the impending Mt. Gox repayments. Bitcoin is currently trading at $57,723, according to CoinGecko data.