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.

According to BlockBeats, on July 16, the AI sector tokens experienced notable increases in their market values. Among the tokens, ARKM is currently priced at $1.6, reflecting a 24-hour increase of 10.5%. TAO is now trading at $298.05, showing a 24-hour rise of 4.9%. SPEC has surged to $7.79, marking a significant 24-hour gain of 30.1%. Additionally, GPU is priced at $0.7627, with a 24-hour increase of 24.98%.

According to Foresight News, alternative data indicates that the cryptocurrency Fear and Greed Index has increased to 65 today. This marks a significant rise from yesterday's neutral state of 52, suggesting that the market has now entered a 'greed' phase.

According to Odaily, on-chain analyst @ai_9684xtpa has reported that a smart money address, 0xE29, has achieved a significant profit from its investment in the FIGHT token. The address initially purchased 15.61 million FIGHT tokens at an average price of $0.000006862 per token, spending a total of $106. This purchase was made immediately after FIGHT was listed on the Ethereum mainnet. Since then, the address has sold 43% of its holdings, realizing a profit of 5.4 ETH. The remaining tokens in the address still show an unrealized gain of $118,000. This translates to an overall increase of 1328 times the initial investment.

According to BlockBeats, as of July 16, data from CoinGecko indicates that the total market capitalization of cryptocurrencies has risen to $2.494 trillion, marking a 5.4% increase over the past 24 hours. Bitcoin holds a market dominance of 51.2%, while Ethereum's market share stands at 16.7%.

According to Odaily, Terra has announced via X that the general deadline for filing claims in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set for August 10, 2024, at 5:00 AM Beijing Time. Users who have claims against TFL that arose before January 21, 2024, or July 1, 2024, must submit their claims before the general deadline.

According to BlockBeats, on July 16, JD Vance criticized the Canadian government's decision to freeze the bank accounts of individuals involved in the Ottawa trucker protest in 2022. Vance posted at the time, 'This is why cryptocurrency is thriving; if your political views are wrong, the regime will cut off your access to banking services.'

According to BlockBeats, on July 16, a case in Chongqing saw the defendant, He Mou, sentenced to three years in prison and fined 5 million yuan by the Yubei District People's Court. He was found guilty of illegal business operations for engaging in unauthorized fund payment and settlement activities on a cryptocurrency trading platform, earning profits from the price differences. Following the initial verdict, He Mou appealed to the Chongqing First Intermediate People's Court. During the appeal, He argued that his activities of exchanging virtual currency for RMB did not constitute fund payment and settlement, and therefore, did not amount to illegal business operations. After reviewing the case, the Chongqing First Intermediate People's Court recently ruled to dismiss the appeal and uphold the original sentence.

According to BlockBeats, on July 16, HODL15Capital reported that the Hong Kong Bitcoin ETF added 605 bitcoins to its holdings yesterday.

According to Foresight News, Solana ecosystem real estate trading protocol Parcl has unveiled the distribution and unlocking schedule for the first season of its 'Perpetual Points' program. Over 3,000 wallets are eligible to receive more than 11.5 million tokens. The claim process will be divided into three phases: Phase 1 (July 15 to September 29) requires staking at least 50% of the PPP Season 1 allocation; Phase 2 (October 1 to November 30) requires holding 50% to 99.9% of the PPP S1 allocation; and Phase 3 (December 1 to December 31) requires staking less than 50% of the allocation. All unlocking plans are set to be completed by December 29, 2024. Users can claim tokens through the 'Points' section of the DApp, with staking commencing every Thursday at 8:00.

According to Foresight News, the South Korean Digital Asset Exchange Alliance (DAXA) has introduced new regulations ahead of the Virtual Asset User Protection Act, which takes effect on July 19. The newly implemented rules include the 'Real-Time Abnormal Transaction Monitoring Model Rules' and the 'Standard Advertising Rules.' The 'Real-Time Abnormal Transaction Monitoring Model Rules' encompass an alert system initially adopted as a self-regulatory measure. This system, now mandatory for all exchanges under the new law, outlines general market monitoring procedures that must be followed. These measures aim to enhance the oversight of digital asset transactions and ensure compliance with legal standards. Additionally, the 'Standard Advertising Rules' specify the procedures and methods that exchanges must adhere to when conducting advertising campaigns. These rules are designed to standardize advertising practices and ensure that promotional activities are conducted transparently and responsibly.