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📉 Bitcoin Hashrate Declines Amidst Market Pressures ➡️ Bitcoin's network has experienced a significant decline in hashrate, dropping from a peak of 943 exahash per second (EH/s) on July 26 to 898.20 EH/s as of August 3. This represents a decrease of approximately 44.8 EH/s and a 4.75% dip over the past eight days. Several factors have contributed to this downturn, including a slight increase in network difficulty and a decline in Bitcoin's price. 📈 Nine days ago, the network's difficulty increased by 1.07% to 127.62 trillion at block height 907200. This was compounded by a 4.1% drop in Bitcoin's value against the U.S. dollar over the past week. As a result, the hashprice—which estimates the value of one petahash per second (PH/s) of mining power—has fallen to $56.74 per petahash. This marks a 4.25% decrease from $59.26 per PH/s thirty days ago and an 11.65% drop from a recent high of $64.22 on July 11. ⏳ Current average block intervals are around 10 minutes and 11 seconds, suggesting that the upcoming difficulty adjustment on August 9, 2025 could lead to further declines. Miners are likely reassessing their operations in light of these challenges, as declining hashprice and impending difficulty adjustments will require greater efficiency and strategic timing to remain competitive. ⚖️ Smaller mining operations may feel the impact of these tightening network conditions more acutely than larger industrial-scale miners. If market conditions do not improve soon, consolidation within the sector could accelerate, benefiting those who have already optimized for cost, energy access, and long-term strategy.

📈 Record Growth of XRP Futures on CME Amidst Institutional Demand 📊 XRP futures on the Chicago Mercantile Exchange (CME) have seen a significant increase in trading volume and open interest, indicating a rising interest from institutional investors in regulated crypto derivatives. This growth reflects a growing appetite for capital-efficient products linked to digital assets beyond bitcoin and ethereum. 🟥 On July 31, CME Active Trader highlighted several milestones achieved by its XRP futures suite in July. Notably, on July 18, micro XRP contracts traded reached 14,612, totaling a notional volume of $126 million. Open interest peaked on July 22 with a record of 4,812 contracts (=$43M). The following day, trading remained robust with 4,765 contracts exchanged and a significant increase in notional volume to $775 million. On July 24, open interest hit another high at 4,766 contracts (=$788M). 💼 CME Group’s XRP and Micro XRP futures are regulated, cash-settled contracts. These contracts offer a cost-effective way to gain exposure to the price of XRP while providing transparency, price discovery, and risk management capabilities. Following the launch of XRP futures in June, CME noted:

The introduction of XRP futures has rapidly demonstrated significant market interest and widespread participation.

On its debut, trading volume reached $19.3 million across 15 firms and four retail trading platforms. 📌 While some critics raise concerns over the regulatory status of various digital assets, supporters argue that CME’s regulated framework enhances institutional trust. This trust may pave the way for broader adoption of crypto within traditional financial systems.

👉 Uruguay's Central Bank Considers New Regulations for Bitcoin and Virtual Assets 🗣 The Central Bank of Uruguay is contemplating new regulations to clarify the status of bitcoin and other virtual assets. At the Blockchain Summit Global conference in Montevideo, Patricia Tudisco, the bank's Superintendent of Financial Regulation, indicated that adjustments are needed in the existing cryptocurrency law due to recent international compliance developments. ⚖️ A key aspect to be addressed is the differentiation between "financial" and "non-financial" virtual assets. The previous law encompassed both categories. Tudisco emphasized that for “virtual financial asset service providers,” regulation primarily focuses on consumer protection and anti-money laundering measures. In contrast, “non-financial” virtual assets would only be subject to anti-money laundering regulations, excluding consumer protection elements.

For the ‘virtual financial asset service provider,’ the focus of regulation is on consumer protection and anti-money laundering issues.

said Tudisco. 💡 Under the central bank's current perspective, bitcoin would be categorized as a non-financial virtual asset. This classification implies that companies offering only custody services for bitcoin would not be required to obtain a license. Conversely, centralized stablecoins like USDT would be regarded as financial virtual assets, necessitating a more comprehensive licensing process for service providers.

That’s why I was telling you about this review, which I think should be considered at some point, because in other countries the regulation was based on the activity, on the services provided, without considering what the specific purpose [of the virtual asset] was

Tudisco concluded.

💰 Citigroup's Bitcoin Price Projections for 2025 📈 Citigroup predicts that Bitcoin could reach $135,000 by the end of 2025 in its base-case scenario. This projection is driven by strong demand from U.S. spot Bitcoin exchange-traded funds (ETFs), increasing user adoption, and favorable macroeconomic trends. The report also outlines a bull case of $199,000 if ETF inflows and adoption accelerate, and a bear case of $64,000 if regulatory or economic challenges arise. 🔍 Currently, Bitcoin is trading between $115,000 and $120,000 and has shown resilience despite mixed U.S. economic data. Citigroup notes that institutional interest, particularly through ETFs, accounts for over 40% of recent price movements. Corporate treasuries have also contributed to the demand. 📊 The forecast has sparked optimism on social media platforms like X, with users highlighting Wall Street’s growing confidence in the leading cryptocurrency. Citigroup’s analysis reflects Bitcoin’s increasing integration into traditional finance (TradFi).

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👉 Calls for a Full Audit of the U.S. Federal Reserve 🗣 Treasury Secretary Scott Bessent has expressed concerns about the U.S. Federal Reserve's operations, stating that it is "spiraling out of control" and requires a full internal audit to manage its expanding activities. During recent interviews, Bessent emphasized the need to examine the entire Federal Reserve institution and assess its success.

Everything else that the Fed has done over the years has just grown and grown and grown, and this is what happens when you don’t have oversight

said Bessent. 👤 Fed Chair Jerome Powell has been at the center of these criticisms. He has faced accusations of perjury, fiscal mismanagement, and incompetence from several members of the Trump administration. Despite this, Bessent stated,

I know Chair Powell. There’s nothing that tells me that he should step down right now. He’s been a good public servant

💰 One of the major points of contention is Powell's decision to maintain the central bank’s target interest rate between 4.25% and 4.50% since December 2024. This has frustrated President Donald Trump, who advocates for lower rates to alleviate the country’s significant interest payments on its national debt.

The USA is Rockin’, there is VERY LOW INFLATION, and we deserve to be at 1%, saving One Trillion Dollars a year on Interest Costs

Trump tweeted. 🟥 Additionally, Powell has come under fire for a $2.5 billion renovation of the Fed’s Washington, D.C. headquarters, which included a $700 million budget overrun. This project has led to accusations of fiscal misconduct and allegations of perjury against Powell regarding his testimony about the renovation details. 🚫 Senator Cynthia Lummis has also criticized Powell for allegedly disenfranchising crypto companies by labeling crypto as a reputational risk during a government effort to undermine the industry.

🚨 Breaking: Polymarket Reenters US Market With Exchange Acquisition As Probe Ends 📊 👉 Read more

📈 Block Inc. Joins S&P 500: A Milestone in Cryptocurrency Integration 🌟 Block Inc. (NYSE: ) will be added to the S&P 500 index on July 23, 2025, highlighting its increasing impact in the financial sector and its dedication to incorporating cryptocurrency into traditional finance. 👤 Founded by Jack Dorsey in 2009, Block Inc., previously known as Square, started as a mobile payment and financial services company. Dorsey, also a co-founder of Twitter, has been a vocal supporter of cryptocurrency, especially bitcoin. Under his guidance, Block has broadened its services to include various cryptocurrency options. 💳 One of the key offerings is the Cash App, which enables users to buy, sell, and hold bitcoin. Dorsey’s commitment to the crypto industry is evident through Block’s strategic investments and initiatives aimed at promoting the growth of digital currencies.

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📈 Strategy's Stock Surges to Record High Amid Bitcoin Treasury Success 🚀 On Wednesday, Strategy's shares reached an all-time high of $455.90, elevating the company's market capitalization to $124.64 billion. This surge represents a 3% increase during the trading session and a remarkable 3,699% gain since its IPO in 1998. 📉 Originally known as Microstrategy Inc., the company went public with shares priced at $12. After experiencing a significant rise during the tech boom of 2000, shares plummeted below $1 post-2001 and struggled for nearly two decades to surpass $20. 💔 In 2013, founder Michael Saylor was a vocal bitcoin skeptic, predicting its demise. He stated,

Bitcoin days are numbered,

but seven years later, he reversed his stance. In August 2020, Strategy purchased 21,454 BTC for about $250 million and has since increased its holdings to 601,550 BTC valued at $71.4 billion. 💰 This substantial bitcoin acquisition, costing $43.324 billion and yielding over $28 billion in gains, positions Strategy as a leveraged proxy for bitcoin. When bitcoin prices rise, Strategy's stock often outperforms due to its holdings and the net asset value (NAV) premium attached to it. ⚠️ However, not all investors are optimistic. Critics like Jim Chanos question the sustainability of Strategy's business model, which involves issuing more stock to finance additional bitcoin purchases. They warn that this cycle could lead to financial instability if bitcoin prices fall or capital becomes scarce. Despite these concerns, Strategy's stock has delivered a 65% gain for its investors.

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➡️ The Shifting Landscape of Crypto: From Fat Protocols to Revenue Focus 📉 Last week marked a pause in market volatility driven by headlines, while institutional accumulation of bitcoin persisted. Tokenized equities made their entrance, and a broader evaluation is taking place as investors reassess the Fat Protocol thesis.

For more than a month, macro headlines controlled every market move, until last week.

📊 The U.S. non-farm-payrolls report on Thursday diminished expectations for a July Fed rate cut, pushing consensus outlook to the September meeting. Signs of diminishing monetary policy impact and the rise of fiscal policy were evident. The European Central Bank expressed its intent to influence capital allocation, stating the need to channel retail savings into capital markets.

If Europe moves towards 401K-style default passive/target date fund model, i.e. shifting a sizable fraction towards European countries, it will permanently impact “American Exceptionalism,”

pointed out Michael Green. 💰 Bitcoin has been consolidating near its all-time high, with institutions continuing to increase their holdings. However, an informal poll on Crypto Twitter suggests many native investors remain under-allocated after missing the recent surge towards $100k. They seem to be waiting for Bitcoin dominance to peak before a true alt season can begin.

​​expect a wave of new ETFs in this second half of 2025

James Seyffart and Eric Balchunas anticipate the approval of U.S. spot altcoin ETFs could be a potential catalyst for an alt season. However, I believe an alt season won't occur until Bitcoin experiences further growth.

🚀 KULR Technology Expands Bitcoin Mining Operations 📌 KULR Technology Group Inc. has announced an expansion of its bitcoin (BTC) mining operations, achieving a significant milestone of 750 petahash per second (PH/s). This was made possible by the deployment of 3,570 Bitmain S19 XP mining machines at facilities in Asunción, Paraguay. 💰 In conjunction with this expansion, KULR finalized a $20 million credit facility with Coinbase Credit Inc., a subsidiary of Coinbase Global Inc. This agreement establishes a multi-draw term loan, enhancing KULR's financial resources for its mining ventures. 🔄 The company emphasizes its "buy-or-mine" flexibility as a core aspect of its bitcoin acquisition strategy. This dual approach aims to build BTC holdings more efficiently than relying solely on mining or open-market purchases.

Bitcoin has outpaced every major asset class in 11 of the last 14 years, often by a significant margin,

stated CEO Michael Mo. He cautioned that price cycles and hashrate volatility make it risky to rely on a single approach. 🔗 KULR is also expanding its mining machine leasing operations through a strategic relationship with a U.S. exchange-listed company. This includes an ASIC miner leasing agreement and a consulting services agreement to support its mining operations and treasury management. 📈 Looking ahead, KULR aims to scale its mining footprint further, targeting 1.25 exahash per second (EH/s) by late summer.

🟥 UAE Government Refutes Claims of Golden Visa Program for Cryptocurrency Investors 🚫 The United Arab Emirates (UAE) government has dismissed claims regarding a golden visa program aimed at cryptocurrency investors, particularly for TON token holders. This clarification follows a blog post by The Open Network (TON) that introduced a "10-Year UAE Golden Visa with TON" initiative. ↪️ According to the Emirates News Agency (WAM), various government institutions stated they were unaware of such a program. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) emphasized that

golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors.

It further clarified that the golden visa programs are available for real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers. 👉 The Securities and Commodities Authority (SCA) reiterated that

digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility.

It also advised investors to seek information from reliable sources to prevent fraud or misinformation. ➡️ Additionally, the Virtual Assets Regulatory Authority (VARA) stated that companies applying for a digital assets license must adhere to the visa procedures set by the Dubai government. It denied any assertions of a program that would allow golden visas to be issued to digital assets investors. 💻 Despite the government's stance, the TON website remains operational and promotes an expedited golden visa procedure for those willing to stake $100,000 worth of TON tokens. The TON Foundation claims that investors can obtain a visa in under 7 weeks for a processing fee of $35k, with the staked TON being withdrawable after three years. 🤔 Former Binance CEO Changpeng Zhao expressed skepticism about this proposal, stating on social media,

This program would be awesome if it was true. I didn’t want to bug too many “official” friends on a Sunday.

📉 Institutional Bitcoin Purchases Insufficient to Drive Price Surge Amid Market Demand Decline 📊 A recent Cryptoquant analysis reveals that despite significant accumulation of Bitcoin by U.S. exchange-traded funds (ETFs) and companies like MicroStrategy (MSTR), the overall market demand for Bitcoin has sharply declined. This contraction has effectively offset potential price gains and prevented new all-time highs. 📉 The Cryptoquant report highlights that while purchases by spot Bitcoin ETFs and corporate treasuries continue, their pace has significantly slowed compared to late 2024. Specifically, ETF purchases fell from 86,000 BTC on December 7, 2024, to just 40,000 BTC by early July 2025, marking a 53% decline. MSTR's purchases saw an even steeper drop, plummeting 90% from a peak of 171,000 Bitcoin to 16,000 Bitcoin during the same period. 🔍 Cryptoquant analysts emphasize that these institutional purchases represent only a portion of the total spot market demand for Bitcoin. At the peak of demand growth on December 7, 2024, ETF and MSTR demand accounted for 33% of the total 771,000 BTC demand growth recorded over 30 days. This underscores the existence of larger, less observable Bitcoin demand sources. 👉 The report identifies a significant contraction in broader spot demand as the critical factor hindering a price surge. Over the thirty days leading up to the report, overall Bitcoin demand contracted by 895,000 Bitcoin. This substantial decline has neutralized the positive price impact typically expected from ongoing institutional accumulation. 📌 Annual demand data reinforces this trend. Cryptoquant indicates that apparent demand contracted annually by 857,000 Bitcoin, more than offsetting the combined expansion from ETF purchases (+377,000 BTC) and MSTR purchases (+371,000 BTC) over the same period. ↪️ The researchers conclude that while spot Bitcoin ETF and MSTR purchases remain a net positive for BTC’s price, they are insufficient alone to drive prices to new all-time highs. Sustained price rallies require overall demand expansion, which is currently lacking. The net demand growth for Bitcoin is slowing, resulting in consolidation rather than a breakout.

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💰 The Blockchain Group Expands Bitcoin Holdings 🔗 The Blockchain Group (Euronext Paris: ALTBG) has recently acquired 60 bitcoins for around €5.5 million (approximately $6.5 million), increasing its total holdings to 1,788 BTC valued at about €161.3 million ($189.5 million). The company reported an impressive year-to-date bitcoin yield of 1,270.7%, with a gain of 508.3 BTC and a corresponding €46.7 million ($54.8 million) increase. 📈 The announcement also highlighted the completion of subscriptions by Adam Back and TOBAM for new ordinary shares, which facilitated the bitcoin acquisition. Back subscribed to over 2.1 million shares at €0.544 each for a total of approximately €1.16 million ($1.37 million), while TOBAM subscribed to over 262,000 shares for about €0.14 million ($0.16 million). 🔄 Additionally, the company executed a capital increase under its “ATM-type” program, allowing for the purchase of 41 BTC for roughly €3.8 million ($4.5 million). The Blockchain Group continues to establish itself as a leader in bitcoin treasury management within the European market.

👉 Final Moves in XRP Case: Ripple Withdraws Appeal, SEC Set to Join ⚡️ A significant chapter in the XRP saga is concluding as Ripple and the U.S. Securities and Exchange Commission (SEC) withdraw their appeals, finalizing previous court rulings and ending active litigation. Ripple CEO Brad Garlinghouse announced on June 27:

Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal... closing this chapter once and for all.

⚖️ This decision follows U.S. District Judge Analisa Torres’ ruling on June 26, which upheld a $125 million civil penalty against Ripple and a permanent injunction barring unregistered institutional sales. Judge Torres stated:

The parties do not have the authority to agree not to be bound by a court’s final judgment… They have not come close to doing so here.

This ruling confirmed that Ripple violated securities laws through its institutional XRP sales. ➡️ The SEC filed a lawsuit against Ripple in December 2020 over $1.3 billion in unregistered XRP sales. In July 2023, Judge Torres determined that while institutional sales were unregistered securities, exchange sales were not. Ripple was fined $125 million and permanently barred from making unregistered institutional sales. Both parties appealed different aspects of this decision. However, a proposal on May 8, 2025, to reduce the fine to $50 million and lift the ban was rejected by Judge Torres. ✅ With the withdrawal of both appeals, the court's rulings remain unchanged, effectively closing the legal dispute. The XRP community has expressed support for Ripple’s decision. Lawyer Bill Morgan stated:

The SEC v Ripple lawsuit is finally, finally, OVER... Commonsense has prevailed. Programmatic sales are not investment contracts.

This sentiment was echoed by Ripple Chief Legal Officer Stuart Alderoty, who reassured the market that XRP’s regulatory classification remains unaffected. He stated:

XRP’s legal status as not a security remains unchanged.

🚀 With the case resolved, Ripple is now positioned to refocus on strategic growth within the digital asset space.

📈 SharpLink Gaming Increases Ethereum Holdings Amidst Share Sales 💰 SharpLink Gaming (Nasdaq: SBET), the largest publicly traded holder of ethereum, has boosted its total holdings to 188,478 ETH. The company acquired an additional 12,207 ether for approximately $30.67 million at an average price of $2,513 per coin between June 16 and June 20, 2025. 📊 During this period, SharpLink raised about $27.7 million in net proceeds through its At-The-Market facility by selling 2,547,180 shares of common stock. The majority of these proceeds are earmarked for further enhancing its ETH treasury. As of June 20, 2025, all of SharpLink’s ETH holdings have been deployed in staking solutions, generating 120 ETH in rewards since the launch of its ETH-focused treasury strategy on June 2, 2025. 🗣 Joseph Lubin, Chairman of the Board, emphasized the company’s commitment to creating long-term value for stockholders by positioning SharpLink at the forefront of blockchain advancement. CEO Rob Phythian reiterated the company’s dedication to leveraging blockchain technologies to support its growth trajectory and treasury foundation.