According to BlockBeats, market sources have revealed that the US spot Ethereum ETF is scheduled to officially launch on July 23.

According to CryptoPotato, Scroll, a ZK rollup Layer 2 network, has seen a 23% increase over the past seven days, reaching a total value locked (TVL) of $1.03 billion, as per L2Beat data. The overall TVL for all Ethereum Layer 2 networks has risen by 12.04% over the last week, amounting to $42.04 billion. Scroll has become the eighth Ethereum Layer 2 network to surpass a TVL of $1 billion. Of this total value, ETH constitutes 87.29%, stablecoins 11.11%, and other assets 1.60%. The network has gained significant attention since its launch in October 2023, continuously introducing new features. The latest addition, Scroll Canvas, enables users to collect and display achievements, status, and on-chain credentials within the ecosystem. Another initiative, 'Session One,' incentivizes liquidity by awarding points to DeFi users who provide liquidity on decentralized exchanges like Ambient and Nuri. Additionally, users can earn Scroll Marks by depositing assets into lending protocols such as Aave. Despite its high TVL, Scroll does not have its own token. According to CoinGecko data, tokens on Scroll, mostly in wrapped format, have seen price increases. Wrapped stETH (WSTETH) leads in trading volume with a 10% increase over the last week, followed by Bridged USD Coin (Scroll) and Bridged Wrapped Ether (Scroll). Participants are encouraged to bridge ETH and wstETH through the native bridge and STONE using LayerZero to Scroll. No extra transactions or activities are required for those aiming for Session Zero eligibility, simplifying the process for users to benefit from the network’s rewards. In the broader Ethereum Layer 2 landscape, activity has generally increased over the past week. Arbitrum One leads with a TVL of $16.85 billion, marking an 11.91% rise. Base follows with $6.87 billion, despite a 7.53% decrease, while OP Mainnet holds $6.42 billion, a 16.55% increase. Blast has $2.67 billion, up by 10.33%, and Mantle rounds out the top five with $1.24 billion, increasing by 15.07%.

On Jul 15, 2024, 22:19 PM(UTC). According to Binance Market Data, BNB has crossed the 580 USDT benchmark and is now trading at 580.299988 USDT, with a narrowed 6.59% increase in 24 hours.

On Jul 15, 2024, 22:12 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 64,000 USDT benchmark and is now trading at 64,143.988281 USDT, with a narrowed 5.11% increase in 24 hours.

According to Odaily, WhaleAlert monitoring has reported that Tether Treasury minted 1,000,000,000 USDT today at approximately 04:26 Beijing time. This significant issuance of the stablecoin USDT is part of Tether's ongoing operations to manage liquidity and meet market demand. The minting of such a large amount of USDT often indicates increased activity or anticipated demand within the cryptocurrency market. Tether, a prominent stablecoin issuer, regularly mints new tokens to ensure sufficient supply for trading and other financial activities. The impact of this minting on the market will be closely watched by traders and analysts.

According to Odaily, Federal Reserve's Mary Daly has indicated that policy adjustments are anticipated in the near future. Daly noted that there is growing confidence in achieving a sustainable pace to bring the inflation rate back to 2%.

According to Odaily, Republican vice-presidential candidate J.D. Vance is emerging as a potential ally for the cryptocurrency industry, given his previous efforts to establish clearer legislation. Vance, known for his book 'Hillbilly Elegy' and his career as a venture capitalist, has recently drafted a bill aimed at reforming the United States' regulatory approach to digital assets. Sources indicate that this proposed legislation could be more favorable to the crypto sector than a bill passed by the House in June. Similar to the House bill, Vance's plan seeks to overhaul how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulate the cryptocurrency market. This reform is a significant priority for cryptocurrency companies and investors dissatisfied with current policies in Washington. Notably, Vance did not disclose any purchases or sales of cryptocurrencies in his recent Senate financial disclosure.

According to Odaily, Dell Group CEO Michael Dell recently shared a video on the X platform featuring BlackRock co-founder and CEO Larry Fink's interview with CNBC. In the interview, Fink admitted that his views on Bitcoin five years ago were incorrect. He reiterated that Bitcoin is digital gold and described it as a legitimate financial tool.

According to Odaily, stablecoin developer Bima Labs has successfully raised $2.25 million in a seed funding round led by Portal Ventures. The round also saw participation from Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO, Halo Capital, Ryan Fang from Ankr, Brian Crain from Chorus One, Jeffrey Feng from Sei Labs, and Smokey from Berachain. Bima Labs has developed USBD, a stablecoin backed by Bitcoin. The stablecoin can be minted by providing Bitcoin liquidity staking and re-staking tokens as collateral. Bima Labs has announced that it will accept collateral from multiple blockchains, including Bitcoin, Bitcoin scaling networks, Ethereum Virtual Machine (EVM) compatible networks, and Solana.

According to Bloomberg, the price of Ether relative to Bitcoin has increased to around 0.05 from 0.045 following the initial approval stage for Ether ETFs by the US Securities and Exchange Commission (SEC). The Ether to Bitcoin ratio indicates how much Bitcoin is needed to purchase a single Ether token, with a higher ratio being favorable for Ether as it signifies a higher value relative to Bitcoin. Since the SEC's preliminary approval on May 23, the price of Ether has decreased by approximately 10% to $3,380. However, Kaiko suggests that this decline does not fully capture the positive implications of the increased ratio for Ether's performance once the ETFs begin trading. Final approval from the SEC is anticipated around mid-July, according to Steve Kurz, head of asset management at Galaxy Digital. Following the launch of Bitcoin ETFs, the price of Bitcoin has surged by about 50% this year to $63,400, while Ether has risen by 48%. O’Neill noted that the potential approval of the ETFs has not been entirely factored into the market, with some investors remaining cautious until the ETFs start trading. He believes this leaves room for Ether's price to increase further. Currently, Ether holds a market value of approximately $400 billion, making it the second-largest cryptocurrency after Bitcoin, which has a market value of around $1.2 trillion.

According to Odaily, Bloomberg ETF analyst Eric Balchunas announced on the X platform that the SEC has finally responded to issuers. The regulatory body has requested that issuers return the final S-1 documents, including fees, by Wednesday. The application is expected to take effect after the market closes on Monday, allowing for issuance on Tuesday, July 23.

According to BlockBeats, on July 16, U.S. short-term interest rate futures narrowed their earlier gains. This shift occurred as traders reduced their bets on a rate cut by the Federal Reserve in July.

According to Odaily, Federal Reserve Chairman Jerome Powell has revealed that the Federal Reserve has employed ChatGPT to generate potential questions for press conferences. However, he clarified that the AI tool has not yet been used for formulating monetary policy.

According to Odaily, LayerZero CEO Bryan Pellegrino has offered advice to founders and CEOs in the cryptocurrency sector. Pellegrino emphasized the importance of ignoring distractions and concentrating on developing an outstanding product. He believes that with a superior product, aspects such as fundraising, business expansion, and other related activities will become significantly easier.

On Jul 15, 2024, 16:55 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,400 USDT benchmark and is now trading at 3,404.659912 USDT, with a narrowed 6.52% increase in 24 hours.

According to Odaily, Whale Alert has detected a significant transfer of 59,999,967 USDT to cryptocurrency broker FalconX. The transaction is valued at approximately $60,083,967.

According to BlockBeats, Federal Reserve Chair Jerome Powell stated on July 16 that the economy has performed well over the past few years. He anticipates that economic growth will slow down this year, while inflation will continue to make progress. Powell noted that the recent three inflation data points have indeed boosted confidence. Powell emphasized that no specific signals will be given regarding any particular meeting today. Decisions will be made based on evolving data and outlooks. With inflation now decreasing, the focus will shift to the Federal Reserve's dual mandate. Powell also mentioned that if the Fed waits until the inflation rate reaches 2% before cutting interest rates, it would be waiting too long.

According to BlockBeats, Solana's liquidity staking protocol Sanctum has announced that its Alpha Vault will be open for deposits from 20:00 on July 16 to 18:00 on July 18, Beijing time. The deposit process will not follow a first-come, first-served basis, and the corresponding CLOUD tokens will be vested over a period of six months. The initial price of CLOUD will be determined by the amount of USDC in the Vault, with a maximum purchase limit set at $7.5 million or 50 million CLOUD tokens. The price of CLOUD will start at $0.001 and can rise up to $0.5 according to the LFG Curve. If the deposited USDC exceeds $7.5 million, CLOUD tokens will be distributed proportionally based on the deposits, and any excess USDC will be refunded.

According to Odaily, the DAI lending protocol Spark has announced new parameter changes being deployed on the Ethereum mainnet's SparkLend platform. The changes include a reduction in the effective DAI borrowing rate by 1 percentage point, lowering it from 9% to 8%, based on the latest recommendations from BA Labs. Additionally, the supply cap for weETH on the Ethereum mainnet will be increased to 200,000 weETH, and the debt ceiling for weETH in isolation mode will be raised to 200 million DAI. Furthermore, the Dai savings rate on the Ethereum mainnet will be reduced from 8% to 7%, pending approval from an execution vote. If the vote is approved, these changes will be available for deployment within 30 hours.

According to BlockBeats, on July 16, MakerDAO's lending protocol Spark announced updates to the parameters of SparkLend. The effective DAI lending rate will be reduced to 8%, while the supply cap for weETH will be increased to 200,000 weETH. Additionally, the debt ceiling for weETH in isolation mode will be raised to 200 million DAI. In Spark Cash & Savings, the DAI deposit rate (DSR) will be lowered to 7%.