According to Odaily, the U.S. Securities and Exchange Commission (SEC) has given preliminary approval to at least three out of eight asset management companies to launch Ethereum (ETH) Exchange-Traded Funds (ETFs). The final approval is contingent upon the applicants submitting their final issuance documents to the regulatory body by the end of this week. Additionally, one source indicated that all eight companies are expected to launch their ETH ETFs simultaneously. An SEC spokesperson stated that the agency does not comment on individual filings.

According to PANews, on-chain analyst @ali_charts has reported that if Solana (SOL) reaches a price of $176, short positions worth $2.98 billion will be liquidated.

On Jul 16, 2024, 05:53 AM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.5 USDT, with a narrowed narrowed 2.50% increase in 24 hours.

According to Odaily, Layer-1 relational blockchain platform Chromia has announced the launch of its MVP mainnet. This release introduces the native CHR token and establishes the foundation of the Chromia network, enabling the migration of ERC-20 and BEP-20 CHR tokens to the network. The MVP mainnet also includes a series of basic functionalities such as payment network hosting fees and provider payments, managed by Chromia's infrastructure. Chromia has revealed that upcoming development work will include the implementation of Native Staking and Delegation by the end of the third quarter, improvements to bridge infrastructure, and further core upgrades. These initiatives aim to enhance the platform's functionality and performance, supporting its continued growth and adoption in the Web3 space.

According to Odaily, data from TRONSCAN reveals that the issuance of TRC20-USDT has reached 60.849 billion tokens, marking the first time it has surpassed the 60 billion mark. As of now, the number of accounts holding TRC20-USDT has reached 47.3 million, with the total number of transactions exceeding 1.85 billion.

According to Odaily, official data reveals that as of July 15, the Monochrome spot Bitcoin ETF in Australia has reached an asset management scale of 85 BTC, valued at approximately $7.93 million. The Monochrome Bitcoin ETF, which allows investors to gain exposure to Bitcoin without directly holding the cryptocurrency, has seen significant growth in its asset management. This milestone reflects the increasing interest and confidence in Bitcoin as an investment vehicle within the Australian market. The ETF's performance is indicative of the broader trend of institutional adoption of cryptocurrencies, as more traditional financial products are being developed to cater to the growing demand for digital assets. The Monochrome Bitcoin ETF's asset management scale is a testament to the evolving landscape of financial investments and the role of cryptocurrencies in diversifying portfolios.

According to Odaily, BabyDoge's official account on the X platform announced that their BABYDOGE PAWS Telegram mini-game has reached a milestone of 1,000,000 users. This achievement was accomplished in just 8 hours, 35 minutes, and 12 seconds, making it one of the fastest-growing applications in history.

According to BlockBeats, on July 16, Arkham data revealed that the Mt.Gox address transferred 0.021 Bitcoin to an anonymous address six minutes prior. This transaction is speculated to be a test transfer. Following this news, Bitcoin experienced a brief decline of 0.34%.

According to Foresight News, South Korean game developer Delabs Games has announced the release of a new baseball-themed Telegram clicker game called Giga Chad Bat. Players can earn points through Giga Chad Bat, which can then be converted into GAME tokens.

According to Odaily, cryptocurrency Key Opinion Leader (KOL) Ansem commented on a market outlook tweet previously posted by Mechanism Capital co-founder Andrew Kang. Ansem stated that if Mog and Popcat see an increase, medium-capitalization meme coins are likely to follow suit. However, the broader altcoin market remains uncertain and requires some filtering. Despite this uncertainty, animal spirits continue to dominate the meme coin sector.

According to PANews, StratoVM has launched a highly scalable and secure Layer 2 solution for Bitcoin, specifically designed for DeFi applications. StratoVM leverages the Optimism codebase and implements a modified version of the OP Stack to bring smart contract functionality to Bitcoin. The project aims to enhance Bitcoin's capabilities by providing a robust platform for decentralized finance. StratoVM's solution is expected to significantly improve transaction speeds and reduce costs, making it a viable option for developers and users in the DeFi space. Currently, StratoVM is running an incentivized testnet, encouraging participants to engage in various tasks to earn rewards. The testnet activities include a points plan and a series of 'Galaxy Tasks' that involve social media interactions and completing specific missions. Participants can join the points plan by visiting the StratoVM dashboard and entering the provided invitation code. The Galaxy Tasks require users to follow and like posts on social media and complete designated missions on the Galxe platform. StratoVM's initiative reflects a growing trend in the blockchain industry to enhance the functionality and scalability of existing networks. By integrating smart contract capabilities with Bitcoin, StratoVM aims to bridge the gap between Bitcoin and the rapidly evolving DeFi ecosystem.

According to Odaily, Mechanism Capital co-founder Andrew Kang has shared his insights on the recent market movements of Ethereum (ETH) and Bitcoin (BTC). Kang noted that ETH surged close to $3,600 ahead of the anticipated approval of an ETF. However, he predicts that the ETH/BTC ratio will decline following the ETF's approval or launch. He attributes BTC's strong performance, despite poor market structure, to potential significant developments that have yet to be announced. These could include major new market participants like Dell, a relaxation of crypto policies in China, the introduction of an ETF, or other major national-level BTC adoption initiatives, such as those by the U.S. government. Should these expectations materialize, Kang believes BTC could find a bottom around $50,000, revising his earlier prediction that BTC would drop to $40,000. He also mentioned that most altcoins are likely to hit lower price highs during this rebound, with a few strong memecoins like Mog, Popcat, and Apu being exceptions. Kang highlighted that BTC, ETH, and altcoins have recently declined by 20-50%, and he expects AltBTC to remain weak. He emphasized that adjusting one's perspective in a timely manner is crucial for long-term success.

According to BlockBeats, the decentralized cloud gaming protocol DeepLink Protocol successfully completed its Public Sale Phase 3 on July 13, raising $900,000. The project has now commenced Public Sale Phase 4, which is scheduled to conclude on August 5. In the earlier phases of the public sale held in June, DeepLink raised $1.05 million in Phase 1 and $1.2 million in Phase 2, with the Japanese market contributing 70% of the funds. DeepLink Protocol is driven by artificial intelligence and blockchain technology, integrating AI, gaming, GPU, tokenization of real-world assets, and decentralized physical infrastructure networks into a single project. This combination aims to create a comprehensive narrative for the gaming industry. The protocol offers ultra-low latency game rendering technology, supporting various applications such as cloud eSports, cloud internet cafes, cloud AAA games, blockchain-integrated games, and cloud VR/AR/XR. Enhanced by AI technology, DeepLink Protocol can improve the resolution and clarity of game rendering.

According to Odaily, the Bitcoin expansion solution Fractal Bitcoin, developed in collaboration between UniSat and Block Space Force, announced on its social platform that the current testnet will undergo several resets before the mainnet launch. During this phase, testnet tokens are distributed only to the initial group of developers testing core functionalities. These testnet tokens hold no actual value or incentives and will not be converted to the mainnet in any form. Additionally, the testnet will soon be open to everyone, providing the community ample time to experience it.

According to Odaily, Boring Security, supported by ApeCoin, announced on the X platform that they are preparing something that will allow ApeChain users to get a head start on the experience. This initiative will be freely accessible to everyone. Previously, ApeCoin DAO announced the upcoming launch of the ApeChain testnet Curtis.

According to Odaily, Franklin Bi, a general partner at Pantera Capital, announced on X that the firm will reengage in on-chain governance, beginning with Arbitrum and gradually expanding to more projects. The decision to start with Arbitrum stems from Pantera Capital's history with the project, as they led the investment in Offchain Labs, the development team behind Arbitrum, back in 2018.

According to Foresight News, Japanese publicly traded company Metaplanet saw its stock price rise by 25.8% during early trading today, currently priced at 117 yen per share. Previously, Foresight News reported that Metaplanet disclosed an additional purchase of 21.88 bitcoins on July 16, valued at approximately $1.26 million. As of now, Metaplanet holds a total of 226.611 bitcoins, worth around $14.2 million.

According to Odaily, Yuga Labs co-founder Garga.eth expressed excitement on the X platform about the launch of the ApeChain testnet, Curtis. He mentioned that there is currently not much to do on the testnet, but once the mainnet goes live, Otherside and other dApps under development will operate on the chain.

According to BlockBeats, on July 16, a video disclosed by a prominent crypto Key Opinion Leader (KOL) revealed that JD Vance, the Republican vice-presidential candidate, criticized Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), during a speech. Vance described Gensler as the 'worst regulator' for the crypto industry and stated that his approach to regulating the cryptocurrency market is 'completely contrary to ideal policy.' Vance further accused Gensler of attempting to inject excessive political factors into the actual business of U.S. securities. This criticism highlights ongoing tensions and differing perspectives on the regulation of the rapidly evolving cryptocurrency sector.

According to Odaily, Decentralized has revealed the minting details for its first Ordinals series, titled UNTITLED. The series will consist of 222 runes, with a minting fee set at 1 million Decentralized runes. The minting date is scheduled for July 18. Additionally, addresses participating in the minting of UNTITLED must hold Promethean. A snapshot to verify eligibility will be taken on July 17 at 20:00 Beijing time.