According to Odaily, Stake DAO has announced that PrimeDAO has introduced three new voting incentives on the Balancer Votemarket. The new incentives are aimed at encouraging more participation in the decision-making process. Further details about the nature of these incentives were not provided in the announcement. This move is seen as a part of PrimeDAO's continuous efforts to enhance its governance model and foster a more inclusive and democratic ecosystem. Balancer Votemarket, where these incentives have been introduced, is a well-known platform in the decentralized finance (DeFi) space, offering a variety of services including liquidity provision and automated portfolio management. The introduction of these new incentives by PrimeDAO on the Balancer Votemarket platform is expected to attract more users and stakeholders to participate in the governance of the DAO. This could potentially lead to a more robust and effective decision-making process, ultimately benefiting the entire ecosystem. Stake DAO's announcement has been met with positive responses from the community, indicating a general approval of PrimeDAO's efforts to improve its governance structure. However, the actual impact of these new incentives on the participation rates and the overall governance of PrimeDAO remains to be seen.

According to U.Today, cryptocurrencies including Bitcoin (BTC), Dogecoin (DOGE), XRP, and Cardano (ADA) are experiencing a surge in value. This increase coincides with the recent U.S. jobs report, which showed an unexpected rise in the unemployment rate. Non-farm payrolls increased by 206,000 for the month, surpassing the Dow Jones forecast of 200,000 but falling short of the downwardly revised gain of 218,000 in May. Policymakers are keen to see more progress on inflation before decreasing interest rates. However, a deteriorating labor market might necessitate swift action. Following the jobs report, traders increased their bets on a September interest rate decrease. The odds of a quarter-point cut rose to approximately 75%, up from 64% a week ago, according to the CME Group’s FedWatch tool. Bitcoin's price dropped to $53,500 per coin on Friday, a low not seen since February, after the U.S. Federal Reserve released minutes from its June meeting. These minutes suggested that the central bank might not be ready to decrease interest rates. Fed Chairman Jerome Powell has stated that while progress has been made in lowering inflation, the central bank wants to ensure it is returning to its 2% target before easing monetary policy. New inflation data is expected next week. At the time of writing, Bitcoin had risen 1.96% in the last 24 hours to $56,697. Bitcoin reached an all-time high of about $74,000 in March this year, following the approval of the first U.S. spot Bitcoin ETF. However, it has since been trading within a narrow range. Dogecoin rallied significantly from its Friday lows of $0.0915 and continues to rise in Saturday's trading session. At the time of writing, Dogecoin had increased 9.60% in the last 24 hours to $0.1094. XRP was up 5% in the last 24 hours to $0.435, while Cardano's ADA coin had risen 2.29% to $0.356.

According to U.Today, the cryptocurrency XRP is experiencing a market rebound, with its value increasing by 4.71% in the past 24 hours to $0.4354. This growth has reduced its losses over the past week to 8.44%. After dropping to as low as $0.39 in the past seven days due to significant bull liquidation, XRP has now established this price point as a crucial support level. Despite this, the cryptocurrency has struggled to maintain a sustained breakout from the $0.4 trendline throughout the year. XRP's position as a dominant asset on the XRP Ledger has been challenged by several factors. These include competition from other major cryptocurrencies such as Bitcoin and Ethereum, as well as the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). Since the lawsuit was initiated in December 2020, XRP's growth has been in a state of uncertainty. Experts suggest that unless the lawsuit is resolved and the case closed, XRP may struggle to achieve significant growth in the near term. Despite the challenges posed by the SEC lawsuit, XRP is finding new potential in other use cases. One such use case is the XRP Ledger, which is looking to diversify automated market maker (AMM) pools to provide extended service to the community. XRP has also been featured in Ripple's payment plans, with the coin being recognized as one of the most versatile for cross-border payments in the industry. While there is agreement on the potential impact of these additional use cases on XRP's price, there is no consensus on when the coin will reach its perceived value.

According to U.Today, Shiba Inu (SHIB) has seen a significant increase in activity, largely attributed to the return of large holders, also known as 'whales'. Data from IntoTheBlock reveals that the large transaction volume for SHIB has risen by a remarkable 176% in the past 24 hours. This increase in activity has coincided with a substantial 15% rise in the SHIB price. In monetary terms, Shiba Inu's large transaction volume has increased by 176.29% in the last 24 hours, reaching 4.18 trillion SHIB, equivalent to $62.57 million. The recent increase in Shiba Inu’s large transaction volume suggests that SHIB whales are either accumulating more SHIB or moving large quantities of it. Large transactions, defined as those exceeding $100,000, are often indicative of whale activity and suggest that these large holders are actively buying or selling. Several factors could be contributing to the recent increase in whale activity for Shiba Inu, although the exact reason remains unclear. Improved market sentiment in the broader cryptocurrency market could be prompting whales to expand their positions in SHIB. Shiba Inu's price rose over 16% to reach highs of $0.00001595 in Saturday's trading session as the market rebounded following a bearish downturn earlier in the week. At the time of writing, SHIB was trading up 15.21% in the last 24 hours to $0.00001591. It is speculated that whales might be strategically accumulating SHIB in anticipation of future price increases, capitalizing on current market conditions. In the short term, attention is focused on whether SHIB can maintain its current price rebound given the resurgence of whales as seen in their activity spike. If this trend continues, SHIB might proceed to its next major barrier in the range between $0.000015 and $0.000019. If the opposite happens, SHIB might resort to an intermediate support at $0.000014.

According to U.Today, Franklin Templeton, a global asset management firm with over $1.65 trillion in assets under management (AUM), has expressed a bullish stance on Ethereum (ETH) as a technological development and economic tool. Despite fierce competition, Ethereum continues to be the cornerstone of the decentralized economy, consistently presenting new opportunities for its community. In its report titled 'Understanding the Value of The Ethereum Network', Franklin Templeton highlighted the significant features, challenges, and opportunities of the Ethereum blockchain. The investment giant's analysts emphasized that Ethereum has built upon Bitcoin’s achievements to establish a robust and accessible technological foundation for distributed ledger applications, thereby facilitating a comprehensive decentralized economy. The advent of the Ethereum Virtual Machine (EVM) and its Solidity smart contracts has altered the landscape of app development. Ethereum has become the basis for a broad array of decentralized applications across various B2B and B2C segments. The report specifically underscored the role of Layer 2 networks in enhancing Ethereum's performance metrics and decentralization status. Layer 1 and Layer 2 blockchains collectively form the basis for 'Web3', the latest version of the World Wide Web that allows user ownership. Emerging Web3 business models are laying the groundwork for a new kind of network economy and commercial transaction approach, fostering a protocol-based economy that promotes democratized ownership and rewards participation. Consequently, Ethereum has succeeded in creating a vibrant, diversified protocol economy with a wide range of innovative use cases in DeFi, GameFi, NFT, metaverse, and other trending sectors. The report's authors concluded that Ethereum stands out as a unique blend of a native peer-to-peer payment network, a common developer toolkit, and a virtual machine for executing smart contracts, setting a new standard for blockchain technology. Franklin Templeton is also part of the race for Ethereum spot ETFs in the U.S., having filed with the SEC for ETF approval in February 2024. Major analysts and community members anticipate that Ethereum spot ETFs will be approved as early as this month. The final approval of S-1 forms is expected by July 12, potentially indicating an ETF trading launch on July 15.

According to U.Today, Billy Markus, the co-creator of Dogecoin, has publicly criticized a recent study that suggests cryptocurrency investors possess 'dark traits' of personality. The study, reported by the Independent, was conducted on 2,001 adults in the United States, approximately 30% of whom admitted to owning cryptocurrency. The researchers also collected additional information about the participants, including their psychological and political traits. The study concluded that cryptocurrency owners are likely to have 'dark tetrad' personality traits, including narcissism, Machiavellianism, psychopathy, and sadism. It also suggested that these individuals rely on 'fringe social media sources', believe in conspiracy theories, and feel victimized. The Independent reported that the strongest predictor of cryptocurrency ownership was reliance on 'fringe social media sources' for news. Markus, however, strongly disagreed with these findings. He took to social media to express his disagreement, stating, 'I disagree and let me lengthily argue why I am right.' He did not elaborate further on his argument. The study's emphasis on reliance on 'fringe social media sources' for news is noteworthy, especially considering the recent takeover and rebranding of Twitter by Elon Musk. Now known as X, the platform has been advocating for its users' right to free speech and has reportedly been gaining new users rapidly, becoming a more reliable news source compared to traditional media. Given X's popularity within the crypto community, the study and the article reporting it could be seen as an attempt to discredit both X and the crypto community in the eyes of the American public.

According to U.Today, renowned commodity trader Peter Brandt recently identified a short-term buy signal for Bitcoin. Brandt shared this insight on his social media account, referring to the pattern as a 'foot shot (Friday)'. He also noted that the current correction in Bitcoin's value is the largest so far in the ongoing bullish cycle that began in December 2022. On Friday, Bitcoin, the largest cryptocurrency, experienced a significant drop to as low as $53,917. This was attributed to the combined impact of substantial Mt. Gox repayments and significant government liquidations. This marked a 27% correction, which is notably larger than the 21.9% correction Bitcoin experienced in the third quarter of 2023 when it retraced from a local peak of $31,862 to $24,900. Blockstream co-founder Adam Back recently downplayed the severity of the recent Bitcoin price drop, citing previous bull cycles that also saw significant price corrections. Brandt has previously suggested that Bitcoin's price could reach as high as $150,000 during this cycle, a prediction also made by Fundstrat's Tom Lee. However, Brandt believes that such a high target would only be achievable in 2025, not this year. Drawing from previous bull cycles, Brandt anticipates the market will peak in August 2025. As per CoinGecko data, Bitcoin is currently trading at $57,478 after bulls managed to recover some ground.

According to U.Today, Ethereum co-founder Vitalik Buterin has made a notable transfer of 99.9 ETH to the Gnosis Safe Proxy contract address. This contract is recognized for its requirement of multiple signatures to finalize a transaction. Despite speculation, this move is not indicative of Buterin selling his holdings but rather a strategic move. The 2077 Collective, known for promoting Ethereum adoption and supporting projects that align with Ethereum's decentralized ethos, continues to receive Buterin's support. His commitment to the Ethereum community's growth is evident in his contributions to this collective. Buterin is renowned for his philanthropic efforts and support for initiatives that enhance the Ethereum ecosystem, making this move unsurprising. The transparency of blockchain transactions encourages community-driven initiatives to receive more support and participation. These contributions are visible to the community, fostering a sense of involvement and transparency. Buterin seldom sells substantial amounts of funds openly, with most transactions from this address linked to charitable giving, regular redistribution, or other types of operations. Buterin frequently uses tools like Gnosis Safe, Tornado Cash, and other services that somewhat obscure traces in the blockchain space, enabling privacy while maintaining a degree of transparency. The last significant sale observed on Buterin's address dates back to the first quarter of 2024, when Ethereum was trading at approximately $3,500.

According to U.Today, Shiba Inu (SHIB), the second-largest meme cryptocurrency, has spearheaded the recent recovery in the crypto market with significant double-digit gains. Despite some losses, SHIB has still managed to record an impressive 7% increase over the past 24 hours, as per CoinGecko data. This performance places it as the top-performing cryptocurrency within the top 20 and the sixth-best performer in the top 100. The only cryptocurrencies outperforming it are Notcoin (NOT), Arbitrum (ARB), Optimism (OP), MANTRA (OM), and Celestia (TIA). SHIB has also significantly outperformed other meme cryptocurrencies. Its main competitor, Dogecoin, has only managed a 2.3% increase over the same 24-hour period. Other coins have also seen relatively modest gains. In contrast, Dogwifhat (WIF) has seen a decrease of nearly 6%, making it one of the biggest underperformers among cryptocurrencies with a market cap larger than $1 billion. Former Goldman Sachs analyst Murad Mahmudov has suggested that the crypto market is set to experience another meme coin cycle. He has previously advised digital asset investors to focus exclusively on meme cryptocurrencies. In April, Mahmudov predicted that Pepe (PEPE) would surpass both Shiba Inu (SHIB) and Dogecoin (DOGE) in terms of market capitalization. He also forecasted in May that WIF would eventually overtake SHIB. Despite being down more than 81% from its all-time high, SHIB still holds a value of $9.6 billion, making it the 14th largest cryptocurrency by market cap. PEPE and WIF, on the other hand, are currently in distant 27th and 50th places, respectively.

According to U.Today, Shiba Inu's recent price action indicated that the asset had been significantly oversold, making it an attractive option for traders looking for a bounce buy. This overselling often suggests a potential technical rebound, as it typically signifies that the price has fallen too drastically and too quickly. Such rebounds are usually temporary and are more often caused by technical issues rather than underlying advancements. Despite the brief recovery, a potential midterm downtrend still looms, especially if the overall market conditions persist in being negative. The bounce back for Shiba Inu also aligns with a general market pullback. Over the past few days, several assets have experienced significant losses due to intense selling pressure in the cryptocurrency market. Shiba Inu followed the market reversal trend as signs of relief began to emerge. This slight respite for the entire market helped stabilize SHIB's price and aided its recovery. The collective recovery effort of the market created a conducive environment that allowed SHIB's price to climb above its lows. Another key factor in SHIB's recovery is the apparent absence of whale activity. Whales, by selling large quantities of tokens, can significantly influence the market. However, the lack of whales meant there was less pressure to sell SHIB. With many inexpensive tokens available for purchase due to the absence of whales, it is easier for smaller investors to invest without fear that major sell-offs will push the price even lower. The environment for SHIB's recovery is now more stable as there is no downward pressure from whales.

According to Odaily, the cryptocurrency SATS has seen a rapid short-term surge. The value of SATS has broken through 0.00000016 USDT and is currently reported at 0.0000001603 USDT. This represents a 24-hour increase of 30.86%. This significant rise in value indicates a strong performance for the cryptocurrency in the short term. However, it remains to be seen how this will affect the long-term performance of SATS.

According to CryptoPotato, Ondo (ONDO), the largest coin in the Real-World Assets (RWA) sector, has a current price around $1 and a market cap of $1.4 billion. The coin debuted in January and reached an all-time high of nearly $1.50 in June. However, the RWA sector recently dipped from nearly $9 billion to approximately $6 billion due to the broader cryptocurrency market correction. Real-world Assets (RWA) have gained popularity in recent months. They represent physical objects or properties and function on the blockchain via smart contracts. Earlier this year, the market capitalization of the niche neared $9 billion. However, it recently dipped to approximately $6 billion following the latest correction of the entire cryptocurrency market. Ondo is the governance token of the New York-based crypto company Ondo Finance, which focuses on tokenization, recording assets such as bonds and US Treasuries on blockchains. It will be interesting to see whether it can reach a new peak in the following weeks or whether the market decline will continue suppressing its valuation. Mantra (OM) is the second-largest RWA cryptocurrency with a market capitalization of over $700 million. It went live in August 2020, reaching a peak price of $1.09 last month. OM is up a staggering 3,000% yearly and is among the few cryptocurrencies from the top 100 list to witness gains in the past week. Mantra is a layer one blockchain network that creates a bridge between TradFi and DeFi by offering the necessary infrastructure for tokenizing Real-World Assets. Pendle (PENDLE) is a blockchain protocol offering decentralized financial services, emphasizing fixed yields and yield tokenization. It is designed to work across different blockchains and incorporates automated market-making for efficient trading. Its all-time high occurred in April this year when it crossed the $7 milestone. Currently, it trades at around $3.80 and is one of the severely affected assets from the raging market crash. Chromia (CHR) is a blockchain platform and cryptocurrency developed by the Chromia team, aimed at providing scalable and decentralized infrastructure for developing decentralized applications (dApps) and games. Its price defied the negative market trends, jumping by 8% daily and surpassing the $0.26 zone. Its rally coincided with the news that Chromia joined the AWS Partner Network. The developers revealed that the platform’s MVP Mainnet will officially launch on July 16.

According to BlockBeats, UniSat has announced important updates to its Swap product on July 7. After extensive testing over the past year and a half, the team has preliminarily verified that the product can operate normally on the Bitcoin mainnet. Most of the engineering work for the Swap module has been completed, with the remaining work mainly involving assisting indexers other than the UniSat Indexer to effectively identify and calculate inscriptions related to the swap module. In addition to promoting the standardization of swap, the team has also made progress in systematically expanding Bitcoin through a method called Fractal Bitcoin. Given the current progress, the team is very confident in delivering Fractal Bitcoin in September. On Fractal Bitcoin, the official will provide a swap product - Fractal Swap, which has the same function as the mainnet swap module, to ensure that projects on Fractal Bitcoin have good liquidity from the start. In subsequent iterations, BTC and other mainnet assets can also exist as brc-20 wrapped assets on Fractal Bitcoin, providing greater flexibility. Finally, the official stated that more details about this incentive model will be released in the near future.

According to Odaily, Andrew Kang, the co-founder and partner of Mechanism Capital, has shared his insights on common mistakes in the crypto market and predictions for the future. Kang pointed out that one of the most frequent errors made by investors is buying too early when the market trend shifts from rising to falling. He advised against buying when Bitcoin drops by 10% from a high point. Instead, he suggested waiting for a widespread market liquidation, when most people exit and question whether cryptocurrencies will disappear forever, to buy for the next cycle. Kang also expressed his belief that over 98% of altcoins have peaked in the current cycle, with only a few potentially reaching new highs in the fourth quarter of 2024 or the first quarter of 2025. He indicated that these could primarily be a select few Meme coins, but cautioned investors to be selective. Furthermore, Kang stated that Bitcoin is transitioning into a supercycle asset, possessing characteristics of both previous cycles and mature macro assets. He did not elaborate on what these characteristics are or how they might impact the future performance of Bitcoin. This transition, according to Kang, could potentially influence the overall dynamics of the crypto market.

According to Odaily, CoinGlass data reveals that Bitcoin has attracted the most liquidity at the $58,018 level. The cryptocurrency's price is currently eroding the buying support below $57,000. Furthermore, from July 4th to 5th, the total amount of Bitcoin long positions liquidated exceeded $220 million. Following this, short positions experienced liquidation over the weekend, with some short positions being closed when Bitcoin reached a local high of $58,500, as noted by trader Daan Crypto Trades. Analysts have also observed encouraging signals from the Relative Strength Index (RSI) of Bitcoin on a daily timeframe, including bullish divergence. Analyst Wolf X commented, 'My initial bearish target was $52,000, but it seems the bulls might beat me to it. The daily RSI has shown a clear bullish divergence, and the expanding wedge pattern has further increased investor interest.' This analysis suggests a potential upward trend for Bitcoin, despite the recent liquidation of long and short positions.

According to Odaily, a recent data share by crypto influencer MartyParty reveals that Aave, a decentralized finance protocol, is responsible for 63.5% of all lending activities on the Ethereum network. This significant dominance of Aave in the Ethereum-based lending market underscores the platform's popularity and widespread adoption among users. MartyParty, a well-known figure in the crypto space, shared this data, highlighting the substantial role Aave plays in the Ethereum ecosystem. The data indicates that a majority of lending transactions on Ethereum are facilitated through Aave, demonstrating the protocol's effectiveness and reliability. This information provides a snapshot of the current state of decentralized finance (DeFi) on the Ethereum network, with Aave leading the pack in terms of lending activities. It also reflects the growing trust and confidence users have in Aave's platform, contributing to its dominance in the Ethereum-based lending market.

According to CryptoPotato, Bitcoin's price has been stagnant since its peak in March, a situation attributed to the U.S.'s stringent monetary policy that has led to a decrease in stablecoin supply, as per CryptoQuant analysts. They stated on July 3 that Bitcoin's inability to rally further is fundamentally due to the U.S.'s tightening monetary policy since March 2022. Consequently, the overall stablecoin supply began to drop in early 2022 when the Federal Reserve initiated an increase in interest rates. The analysts noted that for Bitcoin to rally significantly, there needs to be an increase in stablecoin liquidity and circulating supply. They concluded that an increase in stablecoin liquidity and circulating supply through a more accommodative monetary policy in the U.S. is necessary for Bitcoin to enter a bull market. Until then, Bitcoin may continue to trade sideways or correct, suggesting investors should adopt a long-term perspective. Lower interest rates mean that cash is less attractive as an investment and high-risk assets such as crypto or tech stocks become more attractive. The Federal Reserve is expected to lower interest rates in September, provided economic data remains positive. The stablecoin supply began to rise again in late 2023, but rates have remained high at over 5% for over a year. Bitcoin has been fluctuating between the high $50K level and the low $70K level for the past four months. The stablecoin market capitalization has steadily increased over the past few months, currently standing at $161 billion, representing around 7% of the total crypto market. This is less than half of what it was at its peak in 2022. Tether remains the market leader with a market share of almost 70%, and the USDT supply is currently at an all-time high of $112 billion. Its closest competitor, Circle, has a market share of around 20% with a circulating supply of $32.5 billion. Maker's DAI is the third largest stablecoin with a $5 billion market cap and a share of just over 3%.

According to Odaily, Nate Geraci, President of The ETF Store, has revealed that more than 300 Exchange Traded Funds (ETFs) have been launched so far in 2024. Among these, the four most successful ones are spot Bitcoin ETFs, namely IBIT, FBTC, ARKB, and BITB. Geraci's statement highlights the growing popularity and success of Bitcoin ETFs in the current financial market. These ETFs, which are traded on traditional stock exchanges, offer investors a way to gain exposure to Bitcoin without having to buy and store the cryptocurrency themselves. The four ETFs - IBIT, FBTC, ARKB, and BITB - have outperformed others in the market, indicating a strong interest and trust in Bitcoin among investors. This trend suggests that Bitcoin and other cryptocurrencies are becoming increasingly mainstream in the world of finance. However, it's important to note that while these Bitcoin ETFs have been successful, investing in cryptocurrencies can still be risky due to their volatile nature. Investors should always do their own research and consider their risk tolerance before investing in these types of assets.

On Jul 07, 2024, 13:22 PM(UTC). According to Binance Market Data, BNB has dropped below 500 USDT and is now trading at 499.5 USDT, with a narrowed 2.12% decrease in 24 hours.

On Jul 07, 2024, 13:19 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 57,000 USDT and is now trading at 56,940.03125 USDT, with a narrowed narrowed 0.37% increase in 24 hours.