Ethereum is burning! Deflationary upgrade EIP-1559 is here, check this handy dashboard to follow ETH being destroyed in real-time. I believe the deflationary changes are not priced in, and that we won’t start to see the impact until another 3 to 6 months. Much like the BTC halving in May 2020, where we saw the pump started later in October.
Meanwhile, this weekend could be extremely volatile. Would recommend against forcing any trades, just relax and see how things look on Monday/Tuesday. The reason being that amendment votes for the new US infrastructure bill happen on Saturday, if anything is perceived as negative, then whole crypto markets could dump. Already it’s not looking good, as senators are trying to sneak in some last-minute changes.
- Uruguay: Next South American country to announce Bitcoin will become legal tender! Adoption continues to rise, great for more mainstream crypto usage.
- Ripple: Seems to be beating the SEC in the courts? Their legal team has now involved crypto-exchange Binance in another attempt to question the SEC’s jurisdiction over the sale of XRP tokens.
- SEC: Seems more certain now than ever that more regulations will continue to rain down on the crypto industry. New boss Gary Gensler is making it clear it will be a focal point for him.
- JPMorgan: The major investment bank seems to be changing its tune on cryptocurrency, despite their crypto skeptic CEO Jamie Dimon, the bank has been quietly giving investors access to half a dozen different crypto funds.
- FTX: The exchange is now sponsoring Scholars in Axie Infinity, which will provide funding for up to 137 new players entering the blockchain game. Check out our overview on the different roles and best ways to earn in the metaverse.
- TrueFi: Announced a $12.5 million fundraise led by Alameda Research, a16z, and Blocktower. Looks promising that TUSD & TRU will become a staple stablecoin/defi platform on Solana? Learn more about the TRU token here.
- Kyber Network: Raised $6.6M to build their multi-chain DeFi management platform, which will be known as Krystal. The investment round was led by Hashed and includes VCs such as Crypto.com, Coin98, Signum Capital, and more.
- Cono Finance: If you’re using AaveAave on Polygon to increase your yield farming strategies through leverage, then check out this tool from Gelato to automatically protect you from liquidations. Auto-pilot life!
- Compound: Added MKR, AAVE, SUSHI, and YFI to the platform as collateral options for decentralized loans. This means you can now earn interest on these assets also.
- Ren Protocol: Announced support for renBTC and renZEC on Railgun, which is a layer2 network using ZK-SNARK technology to bring privacy attributes. When using Railgun your wallet address will not be connected to your actions, meaning no public ledger. Learn more about RenBridge in our full overview here.
- Request Network: Added three more chains to their platform during July (Polygon, Fuse, and Fantom) along with several dashboard improvements to make bookkeeping even easier. Don’t sleep on REQ, the team is pushing hard!
- Parrot: Announced a partnership is coming with Francium DeFi to set up a lending pool for PAI stablecoin. Meaning soon you will be able to earn interest on your PAI and use it as collateral in the leveraged farming platform on Solana. Should make some interesting DeFi strategies!
- Phantom: Now supports native SOL staking in just three clicks. Meaning you can help secure the Solana network by staking with a validator and earn rewards.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
Digital Painting with ArtRage & FlamePainter.
- Makersplace: Raised $30 million in a Series A round led by Pantera Capital and Bessemer Venture Partners, plans to grow its team and expand its marketplace by ensuring more mainstream audiences are aware of NFT creativity. Learn more about the Makersplace platform in our review here.
- Parallel: If you missed the Parallel Card sale then check out this write-up on why it’s getting considerable hype. Great overview on which cards you should be hunting for if you’re looking to buy.
- Faraland: Mystery boxes coming to Binance NFT marketplace, scheduled for August 17th. Will provide users with one random piece of equipment NFT for the multiplayer RPG warrior game.