Mind The Block | July Week 4

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

Mind The Block Headlines This Week

  • Bitcoin breaks $70K after Trump’s remarks
  • Coinbase partners with DigitalX for Bitcoin ETF
  • Swiss FINMA issues stablecoin guidance
  • Galaxy raises $113M for crypto fund
  • Justin Sun urges China to reconsider Bitcoin
  • Mocaverse partners with Ton Blockchain
  • Jasmy Coin projected to hit $1.49 in 2025
  • What is triangular arbitrage in crypto?

News

  • Bitcoin broke $70k after Trump’s Nashville remarks, reaching a two-month high due to bullish sentiment and capital market linkage.
  • Aave has launched a Lido-Only V3 deployment for Lido Finance’s stETH and wrapped stETH liquid staking tokens.
  • OKX Wallet is now integrated with Avalon Finance, a leading decentralized lending platform within BTC ecosystems.
  • Coinfest Asia 2024 returns to Nuanu City, Bali, with 17 immersive areas and a beach club.
  • Unbound Fund is promoting Bitcoin as the world’s first Bitcoin-driven “golden visa” investment vehicle.
  • Developers are working on integrating smart contracts into the Dogecoin ecosystem through projects like Laika and Qed Protocol.
  • Filecoin (FIL) is set to release its NV23 network upgrade, ‘Waffle’, on August 6, 2024.
  • EigenLayer is set to launch AVS rewards and EIGEN programmatic incentives to benefit stakers and operators within its ecosystem.
  • WebKey collaborates with Web3 eco-strategic partners Cassava, CoralApp, Hamster Kombat, MetaMask, and Coin98.

Extras By Mind The Block

  • Arkham Intelligence has introduced a new feature allowing users to claim unique usernames.
  • Mempool has launched an accelerator service for faster Bitcoin transactions.
  • Blocksquare has launched a new Marketplace Pool funding round with blockchain hotel investment platform Pieme.
  • The IOTA Tenity RWA Accelerator Program, a Singapore-based initiative, has selected six finalists for Web3 innovation.
  • DOP, the Data Ownership Protocol, is set to launch on Polygon PoS to improve data ownership in Web3.
  • PlatON has announced a strategic partnership with Coins.ph to offer comprehensive payment services for crypto and fiat currencies.
  • Tether is developing an open-source project to enhance its infrastructure.
  • MetakraftAI has partnered with Value DEX to enhance its capabilities and provide cutting-edge opportunities and tools to users.
  • KIP Protocol, the Web3 Base Layer for AI, has partnered with Moemate, a leading AI-Agent platform, to onboard 3 million users into Web3.
  • Injective has introduced a new proposal for its Altaris Mainnet, aiming to enhance developer and user experience.
  • LCX has partnered with Clear Junction to improve its fiat on-ramp capabilities.
  • 21Shares has integrated Chainlink’s Proof of Reserve to enhance Ethereum ETF transparency.
  • Manta Network has partnered with Doubler, a leading gain strategy protocol, for the launch of Doubler V2 on Manta Pacific.

Major Companies Making Moves

  • Coinbase has become a custody partner for DigitalX’s new Australian Bitcoin ETF, DigitalX Bitcoin ETF (BTXX).
  • VanEck is teasing the possibility of introducing a spot Solana ETF.
  • OKX has launched its Pre-Market Futures platform, featuring the popular Telegram mini-app game Hamster Kombat’s HMSTR token.
  • Ferrari plans to expand its cryptocurrency payment system to European dealers by the end of July, targeting luxury buyers.
  • BitFlyer Holdings has acquired FTX Japan to strengthen its market position and launch crypto ETFs in Japan.
  • Cantor Fitzgerald, a leading global financial services firm, plans to launch a Bitcoin financing business with $2 billion in initial financing.

Government, SEC & Regulation

  • Hong Kong legislator Johnny Ng has proposed Bitcoin as an official financial reserve for the region.
  • The Dutch finance ministry has rejected requests for additional funding from the AFM to enhance its oversight of the crypto sector.
  • South Korean prosecutors have indicted an unnamed man suspected of orchestrating a $1.3 million crypto mining scam.
  • Russia is set to make a crypto exchange ban u-turn, ending efforts to stop crypto circulation in the country.
  • Slovenia has become the first European Union member to issue a sovereign digital bond.
  • Qatar is establishing a crypto framework to legally recognize digital assets, aiming to strengthen its digital economy.
  • Kazakhstan’s National Bank of Kazakhstan (NBK) is using a programmable digital tenge to pay for a railway to China.

Raises & Major Investments rounds

  • Galaxy Asset Management has raised $113 million for a new crypto venture fund, Galaxy Ventures Fund I LP.
  • Allium, a leading blockchain data platform for enterprises, raised $16.5 million in a Series A funding round led by Theory Ventures.
  • Ethereum rollup deployment platform Caldera raised $15M in a Series A funding round led by Founders Fund.
  • Monad’s MEV-powered liquid staking platform aPriori raised $8M in a Seed funding round led by Pantera Capital.
  • Coinsilium Group is set to host its inaugural Web3 Start-Up Pitch Day, in partnership with Liteflow, to support Web3 projects with dedicated seed funding.
  • Web3 AI firm Hyperbolic raised $7M in a Seed funding round led by Polychain Capital, Lightspeed Faction.

  • Tron founder Justin Sun has urged China to reconsider its stance on Bitcoin.
  • The University of Wyoming has established the first academic Bitcoin Research Institute, led by associate professor of Philosophy and author Dr. Bradley Rettler.
  • Mantra CEO John Patrick Mullin emphasizes the need for a dedicated blockchain for real-world asset tokenization.
  • SimpleSwap has launched an innovative Invite System to reward loyal users and attract new ones.
  • Ta-da is a revolutionary To-Earn mobile application that connects users with AI and web3 companies to earn crypto through specific missions.

NFTs, Gaming, Metaverse

  • Aethir has partnered with Grampus to transform Web3 gaming with decentralized cloud computing.
  • Illuvium, a four-year-old studio, has launched three interconnected Web3 games: Illuvium Overworld, Illuvium Arena, and Illuvium Zero.
  • SND Genesis Battle Pass, linked to Sword & Dungeons, led the NFT market with a $1.39 million sales volume on July 23.
  • Jambo has partnered with gaming platform PixelVerse to integrate web3 games into JamboPhones.
  • Mocaverse has formed a strategic partnership with Ton Blockchain to accelerate Web3 adoption.
  • BSUniverse has launched the global service of the open-world RPG ‘Baby Shark Universe‘ on the Google Play Store.
  • SBINFT has relaunched its NFT marketplace, SBINFT Market, with a new UI/UX and features.
  • Disney and Pixar have partnered with Carrieverse to integrate iconic Disney and Pixar characters into the metaverse.
  • The Machines Arena, an Overwatch-style hero shooter, is launching a play-to-airdrop campaign on Ethereum scaling network Ronin.

Onchain Data

  • BONK price is aiming to break a critical barrier for recovery, but investor sentiment has been pessimistic due to the lack of expected profits.
  • APU’s price surged 15%, indicating bullish potential. However, increased volatility and market cap spikes raise concerns.
  • XRP is predicting a massive price surge due to a bull pennant pattern on its daily chart, signaling an intense alt season and Bitcoin run.
  • Jasmy Coin is projected to reach $0.32 by year-end 2024 and potentially hit $1.49 in 2025.
  • Polkadot’s price experienced a bearish week, with a drop in development activity and an increase in its long/short ratio.

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