Market Movers: From Airdrops to Scams and CEO Scandals
? MetaPlanet has made another significant investment, purchasing $3.3 million more in Bitcoin. Their total BTC holdings now stand at an impressive 303 BTC, showcasing their strong belief in the asset.

? DeFi Dominance has dropped to its lowest point in three years, indicating major shifts and challenges within the decentralized finance space as other sectors gain traction.

⚠️ Solana shows signs of a potential downturn, with a bearish pattern that could result in a 17% decline in SOL's price. Investors are advised to stay cautious.

? QR Code Scam targets cryptocurrency users, using deceptive methods to steal funds. Users are urged to be extra careful when scanning QR codes related to crypto transactions.

? CEO Arrested for orchestrating a $365 million crypto scam, leading to a massive investigation and heightened concerns over security in the crypto industry.

? Solana Memecoins are making a surprising comeback, with tokens like BONK and POPCAT seeing renewed interest and price surges as community-driven projects gain momentum.

? The founder of EZBTC allegedly diverted over $16 million of customer funds to fuel his gambling habit, leaving many investors at a loss. Authorities are now investigating the fraud.

? Analysts suggest Bitcoin could mimic gold’s historic bull run, with a potential strong upward trend in the next three months.

Stay informed, stay secure! ?

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Migrating from MATIC to POL: What You Need to Know
Polygon 2.0 is here, and with it comes the new POL token, replacing MATIC. Here’s a quick guide to help you transition smoothly:

*? What is POL?* POL is the next-gen token for Polygon, that offers enhanced security, scalability, and support. Unlike MATIC, it allows validators to secure multiple chains simultaneously, with more opportunities to earn rewards.

*? Why It Matters?* POL strengthens the Polygon ecosystem with better security, unending scalability, and a frictionless user experience. Plus, it gives the community more control with new governance rights.

? On September 4, 2024, MATIC tokens on the Polygon PoS chain will automatically migrate to POL token. If you’re staking MATIC, your tokens will be upgraded automatically. For MATIC holders on Ethereum, you can use migration contracts or DEX aggregators to make the switch.

*? For Liquid Staking and Smart Contracts*: If you hold LST or MATIC in smart contracts, check with your provider for specific instructions. Ensure you update your contracts to support POL.

Polygon 2.0 is a major upgrade that brings new opportunities with POL. Follow these steps to ensure a smooth transition and unlock the full potential of the Polygon ecosystem.

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Market Movers: ETH Under Pressure, Bitcoin Dips, Cardano Preps for Hydra

? BTC/USD below $59K: Institutions stop buying stablecoins, and a bearish market arrives.

? $1.15 Billion Dogecoin (DOGE) has been transacted in the last 24 hours, and experts are wondering why this has happened.

? Cardano (ADA) is proceeding with the Hydra upgrade to enhance its scaling solution while the Chang hard fork is in progress.

? BlackRock’s Ethereum ETF is nearing $1 billion in net inflows, showing institutional solid interest in ETH.

✏️ Morgan Stanley is in the crosshairs of regulators because of participation in promoting spot Bitcoin ETFs, as per a former head of the SEC.

? Bitcoin (BTC) drops below $59K as institutional investors pause stablecoin activities, raising concerns over short-term market momentum.

? Early Ethereum investors move 48.5K ETH, piling the heat on the asset as market dynamics shift.

? 465,657 ETH have been burned so far in 2024, highlighting Ethereum’s deflationary pressure as supply continues to decrease.

? Ripple begins testing its new RLUSD stablecoin, signaling its ongoing expansion into the stablecoin market.

? Optimism is enhancing interoperability between affiliated blockchains, pushing the boundaries of network collaboration.

? Lido Finance expands its domain by launching stETH on BNB Chain, broadening its influence in the DeFi space.

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*? Understanding BTC Staking and Babylon*

Staking BTC? Sounds intriguing, right? Let’s break it down:

1️⃣ BTC Staking:
Traditionally, Bitcoin (BTC) doesn't support staking since it operates on a Proof-of-Work (PoW) consensus mechanism. But with innovations like Babylon, BTC holders can now participate in staking without moving away from Bitcoin’s core principles.

2️⃣ Enter Babylon
Babylon is a groundbreaking protocol that introduces BTC staking. It leverages Bitcoin's security while allowing holders to earn staking rewards. With Babylon, BTC holders can stake their coins and receive rewards without the need to wrap BTC into other tokens.

3️⃣ How It Works
Babylon enables BTC to be used in a secure staking process without converting it into another token. It integrates with PoS networks to allow BTC holders to participate in staking and earn rewards, all while benefiting from Bitcoin's robust security model.

4️⃣ Why It Matters
For BTC holders, Babylon offers a new way to maximize their holdings. It’s a significant development, merging the stability of Bitcoin with the earning potential of staking.

? Takeaway
Babylon is pioneering BTC staking, offering both security and passive income potential. It’s an exciting opportunity for BTC enthusiasts looking to get more out of their holdings.

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Market Movers: Ethereum Jumps, $2.5B Options Expiry Approaches

The crypto market is buzzing with activity! ?

? Ethereum (ETH) sees a 10% price surge as Grayscale's ETF outflows slow, signaling renewed investor confidence.

? $2.5B in crypto options are set to expire amid market volatility, keeping traders attentive to potential price swings.

? Solana (SOL) breaks records with Jito validator tips, driven by a surge in network activity and new token launches.

? Spot Bitcoin ETFs witness the largest inflows in two weeks, indicating strong institutional interest in the flagship cryptocurrency.

⚖️ Robinhood discloses its firm’s reaction to the Wells Notice, navigating regulatory scrutiny with transparency.

? Meanwhile, the SEC is set to appeal the court ruling in the Ripple (XRP) case, reigniting the legal battle and market uncertainty.

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Market Movers: XRP Explodes, Solana ETF Approved in Brazil
The crypto landscape is buzzing! ?

? XRP surges as Ripple Labs gains momentum in their ongoing legal battle with the SEC, despite facing a hefty $125M penalty, fueling bullish sentiment in the market.

⚖️ FTX and Alameda face a staggering $12.7B lawsuit from the CFTC, adding more pressure to the already embattled entities.

? Kamala Harris and Donald Trump are neck-and-neck on Polymarket, sparking intense speculation on who will be the next U.S. President.

? Brazil makes history by approving a spot Solana ETF, thanks to QR and Vortx, paving the way for more crypto investment opportunities.

✍️ Grayscale and Bitwise are taking strides in the market by applying to list options on three Ether ETFs on NYSE American.

? Meanwhile, CryptoQuant’s Bitcoin Cycle Indicator suggests that BTC might still be in a bear phase, keeping investors on their toes.

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Market Movers: Solana Shines, Ethereum Eyes ETFs

The crypto market is heating up! ?

? Solana (SOL) is outperforming Ethereum, with its price surging and on-chain activity increasing.

? Cardano (ADA) is defying the market downturn, showing promising on-chain metrics.

? Cosmos (ATOM) is making waves with a 10% price jump after overcoming sell pressure.

✍️ Nasdaq and BlackRock are proposing Ethereum ETF options.

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The Tezos network has experienced a notable advancement in staking activation due to the Paris upgrade. It greatly encouraged the community to actively engage in the network’s development! Our important news for everyone:

Everstake offers an 8% fee for staking XTZ starting from the 765 cycle. And it’s the lowest fee among top bakers!

Contribute to the reliability and security of the Tezos network. Stake with us now: https://stake.tezos.com/

Week in Blockchains: Week 31

- TokenBridgeApp is now live, connecting Solana and NEAR through a Wormhole-powered bridge built by Crowny.

- Ondo Finance announced the launch of $USDY, the first tokenized US Treasuries asset on Aptos

- Binance Web3 Wallet launched a pre-staking campaign for Babylon.

- Wormhole unlocked 6% of their $W token's supply.

- Movement Labs announced integration with Polygon's AggLayer, which would enable all MoveVM-based L2s to join it and unify their liquidity across all aggregated chains

- Stader Labs announced native ETH liquid staking on Arbitrum and launched a campaign offering flat 10% annualized staking rewards.

- Osmosis surpassed $35bn in trading volume.

- Celestia saw its highest usage day with 797 MB data posted to blobs due to activities related to Eclipse.

Another fantastic MEV worth 61.53 ETH for our ETH validator! This comes from one of the validators in our 0.1+ ETH Staking Solution.

We appreciate your trust and support. We're thrilled to serve you and excited for more wins together. Stay with us!