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Elon Musk warns of U.S. bankruptcy due to a $16 trillion deficit increase by 2035, with national debt at $35.27 trillion. He suggests $BTC as a hedge against inflation and government overspending. Federal lawsuit against Musk dismissed.
Vitalik Buterin transferred 800 $ETH ($2.01M) to a multi-signature wallet, sparking market speculation. 190 $ETH was converted to 477,000 $USDC, indicating strategic financial moves. Ethereum’s price showed recovery signs, trading at $2,523.59 but struggling above $2500.
US PCE inflation steady at 2.5%, sparking optimism for potential Bitcoin ($BTC) and altcoin rally. Stable inflation may lead to favorable conditions as @FederalReserve could ease monetary policy, boosting market liquidity and risk appetite.
Crypto analyst EGRAG forecasts $XRP could surge to $27 if it replicates half its 2017 bull run. Key resistance at $0.75 needs to be overcome. Current trends are bearish, with $XRP trading below the Upper Band and 21-day moving average.
Binance expands margin trading pairs for $TON, $DOGS, $JUP, and more, now available on cross and isolated margins. Mixed performance observed, with $APT gaining 4%. This move aims to diversify options and boost liquidity.
Ethereum ($ETH) rose 2% today. Key drivers: $5.9M inflow into US Spot Ethereum ETF, positive market sentiment from Bitcoin and altcoin gains, and robust Nvidia earnings. BlackRock’s ETF saw $8.4M inflow, highlighting strong institutional interest.
Judge Torres rules XRP tokens are not securities, failing the Howey test. Ex-SEC lawyer Marc Fagel notes programmatic XRP sales resemble secondary sales. SEC’s claims against Kraken and Binance dismissed, signaling clearer crypto regulations and market stability.
US PCE inflation for July is forecasted to hit 2.6%, potentially leading the Fed to reconsider September rate cuts. This could put significant selling pressure on $BTC and $ETH, with billions in crypto options set to expire.
$CHESS surges 41% after @Binance lists CHESS/USDT perpetual contracts with up to 75x leverage. Other exchanges like BingX follow suit, boosting optimism. However, RSI indicates potential overbought conditions, suggesting a possible price correction ahead.
Ripple burns 185 RLUSD tokens to manage stablecoin supply, following minting on XRP Ledger and Ethereum. RLUSD, pegged 1:1 to USD, ensures stability. XRP price at $0.5731 shows upward potential. Ripple’s move highlights blockchain interoperability.
OpenAI eyes $100B valuation with new funding. Thrive Capital and @Microsoft lead the round, marking the largest since Microsoft’s $10B in early 2023. OpenAI plans GPT-4.0 customization update, fueling its influence in AI and crypto markets.
Cardano founder Charles Hoskinson has been inactive on social media for four days, prompting concern in the crypto community. Meme token $HOSKY users amplify the issue. $ADA holders anticipate potential bullish moves if Hoskinson returns with updates.
Sony ($SONY) launches Minato testnet for its Ethereum Layer-2 solution, Soneium, boosting stock price. The testnet, developed with Startale, enables high-volume app testing. Key partners like Astar Network and Chainlink may see positive price movements.
Bitcoin’s selloff in Asia drops $BTC below $58,000, triggering $320M in liquidations. Market cap falls to $2.06T amid macro uncertainties. Binance denies asset seizure claims. Watch for potential rebound if Bitcoin surpasses $63,000.
