Mind The Block | July Week 3

Mind The Block: Your Weekly Dose of Web3 News and Insights

Mind The Block Headlines This Week

• VanEck to introduce Bitcoin pensions
• Wazirx launches $23M bounty program
• EU introduces tools for MiCA classification
• NPC Labs raises $21M for Web3 gaming
• Blockchain solves social media privacy issues
• Axie Classic Season 4 is live with tournaments
• Solana rises 2.5%, up 32% in a month
• How to use SRC-20 tokens?

News

• VanEck has partnered with Inter Invest to introduce Bitcoin to French pension savings plans.
• Joe Biden’s abrupt departure from the presidential race caused panic in crypto markets.
• Grayscale plans to launch its Bitcoin Mini Trust on July 31st, offering low fees of 15 basis points.
• Australian stablecoin startup Stables is launching services in Europe through a partnership with Mastercard.
• TOKEN2049 Singapore is set to host 20,000 attendees and over 500 side events from 18-19 September 2024.
• Keplr, the popular Cosmos wallet app, integrates support for Ethereum Virtual Machine (EVM) to strengthen its multi-layer wallet solution.
• Web3 platform SYKY has launched an app on Apple Vision Pro featuring a showcase from the Japanese label ANREALAGE.
• Noble and Ondo Finance have launched USDY, the first native yield-bearing stablecoin on Cosmos.
• TON Blockchain, Animoca Brands, and MOCA Foundation are partnering to create an interoperable network with over 1.6 billion users.
• BlockDAG has unveiled Dev Release 76, highlighting the X1 Miner app’s testing phase and a $60 million presale.

Extras By Mind The Block

• KIP Protocol, the Web3 Base Layer for AI, has partnered with Moemate to onboard 3 million AI users into Web3.
• LayerEdge has unveiled HMDA’s testnet, a modular timestamping protocol for Bitcoin.
• SparkDEX is set to launch its advanced DeFi hub on Flare, a Layer 1 blockchain for data.
• BingX Charity and NGO Bitcoin Argentina have partnered to provide web3 education to Argentinians.
• Tangle Network has joined the League of Entropy, a global consortium that ensures decentralized, secure, and verifiable randomness.
• sCrypt has launched a chain-agnostic developer toolkit for Unspent Transaction Output (UTXO) blockchains.
• Boba Network and Brinc have launched the Boba Liftoff Accelerator, offering over $1 million in grants to global Web3 startups.
• The BAYC community is considering opening a luxury hotel in Bangkok, Thailand, inspired by the Bored Ape Yacht Club (BAYC).
• Polygon Labs will officially rename the MATIC token to POL after a major technical upgrade later this year.
• SoMon has become the fastest-growing social app in the Web3 space, generating over 300,000 on-chain transactions in just two weeks.
• Swisstronik has launched Incentivized Testnet 2.0 for crypto enthusiasts and developers.
• Metis has formed a strategic alliance with Codatta, an AI-driven protocol specializing in blockchain metadata analysis.

Major Companies Making Moves

• Wazirx has launched a $23 million bounty program to recover over $230 million in stolen assets following a massive security breach on its multisig wallet.
• Telegram is set to launch a Web3-enabled mini-app store by the end of this month.
• Bybit Web3 and Bybit Learn have launched a writing contest called Next-Gen Web3 Writers: Global Challenge.
• Kraken has partnered with Tottenham Hotspur, making it the official crypto partner for their men’s and women’s teams.
• Solana’s decentralized exchange ecosystem has reached a new all-time high, processing over 36% of global DEX trading volume.

Government, SEC & Regulation

• The European Union has introduced new tools for classifying crypto assets under the Markets in Crypto-Assets (MiCA) framework.
• Italian banks conduct the first-ever blockchain-based bond issuance worth 25 million euros.
• Crypto exchange Gate.io has ended its services in Japan and Hong Kong due to local financial regulations.
• Russian authorities seized 500 crypto mining rigs in a raid on Irkutsk’s Bitcoin (BTC) mining hotspot, causing over $2.3 million in damage.
• Seven US states, led by Iowa Attorney General Brenna Bird, have sued the SEC over cryptocurrency regulation.
• South Korea has implemented its first digital asset regulatory framework, the Virtual Asset User Protection Act.

• Nigeria is launching its new blockchain policy, improving land registration, healthcare, and education.
• SEC Chair Gary Gensler may resign in 2025 following President Joe Biden’s exit from the 2024 presidential race.
• Mercuryo, a payments infrastructure platform, has integrated crypto on-ramp services into Indonesian banks.
• Bitcoin miner HIVE Digital plans to build a 100-megawatt Bitcoin mining facility in Paraguay despite looming energy price hikes.
• Hong Kong’s HKMA and FSTB have adopted two stablecoin regulation proposals from CertiK, a blockchain security firm.
• Zimbabwean mining company Kuvimba Mining House has implemented a blockchain-based mine-to-market traceability system for its gold production.
• South Korea’s FSC chair, Kim Byoung-hwan, has cautioned about corporate crypto transactions.

Raises & Major Investments rounds

• NPC Labs, a web3 gaming infrastructure startup, has raised $21 million to streamline Web3 gaming infrastructure.
• Blockchain data network Chainbase raised $15M in a Series A funding round led by Tencent Holdings and Matrix Partners China.
• Crypto-AI startup Mira has raised $9 million in a seed round co-led by Bitkraft Ventures and Framework Ventures.
• Zircuit has raised a Mainnet funding round with participation from Binance Labs, Mirana Ventures, and Amber Group.
• Etherfuse secured a $3 million seed funding round to bring emerging market debt on-chain.
• Bitlayer raised $11M in a Series A funding round led by Franklin Templeton and ABCDE Capital.

Trends & Narrative

• Blockchain technology, specifically Ethereum, can solve social media privacy issues by introducing decentralized models.
• Clusters revolutionize the web3 ecosystem by offering a universal namespace for blockchain transactions.
• Andrew Weiner shares insights on the platform’s unique trading infrastructure and career journey from iComply to MEXC.
• JPMorgan predicts a temporary rebound in the crypto market due to the high price of bitcoin.
• SidusPad is a Web 3.0 launchpad designed by gaming experts and Sidus Heroes, focusing on promising projects and incorporating AI, DePIN, and privacy-oriented technologies.
• Chainalysis has launched Operation Spincaster, an international effort to combat $2.7bn in crypto fraud.

NFTs, Gaming, Metaverse

• OKX has launched a Telegram mini-app game called OKX Racer.
• Bitget and Upland have partnered to unveil the utility token SPARKLET on the Ethereum network, creating a virtual headquarters in the metaverse.
• Planetarium Labs has partnered with Immutable to develop the next-generation Web3 game, Immortal Rising 2.
• NFT sales volume reached $107 million for the second consecutive week, an 8.5% increase.
• Liquid Avatar’s ‘Proof of Humanity’ technology is integrated into Web3 and the Metaverse to promote trust and privacy.
• Tezos NFTs and art are being celebrated during ‘Plastic Free July.’
• CropBytes is inviting all Web3 gaming projects to join its innovative ecosystem.
• FZF Ventures has partnered with MetaBeat, a Fan-to-Earn Kpop Music NFT Platform.
• Axie Classic Competitive Season 4 is live until August 19th, featuring Mini Tournaments and Artifacts.

Onchain Data

• Solana’s price has risen by 2.5% in the past 24 hours, reaching $177.75. This is an impressive 16% increase in a week and 32% in a month.
• Tron’s total accounts reached a new milestone, indicating a rise in blockchain adoption and popularity.
• Avalanche’s price is nearing a breach of the 23.6% Fibonacci Retracement.

• Chainlink’s price has seen a 44% surge in trading volume and ownership shifts, indicating heightened trading interest and market dynamics.
• Celestia (TIA) has experienced a significant price rally, surging by over 11% in the past 24 hours and 10% in the last week.

Educational Guides and Tips from Mind the Block

• What is Inter-blockchain Communication (IBC) Protocol? How Does it Work?
• What Are SRC-20 Tokens? How to use SRC-20 tokens? What are Bitcoin Stamps?
• What Is Husky Inu ($HINU)? What Sets Husky Inu ($HINU)Apart From the Rest?
• What is SVM, and why is it so important for Web3 Gaming?
• What is Polymarket? Decentralized Prediction Markets Explained.

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