Crypto News Today: BTC Below $65K,PIXFI Token Takes the Lead

Crypto market cap dropped by 0.80%, hitting $2.47 trillion

• According to on-chain data, the WazirX hacker converted all stolen altcoins into Ethereum, amassing 59,097 ETH worth $201 million.

• The ECB's rate pause reduces Fed cut chances next month; a hawkish Fed stance could negatively impact Bitcoin and cryptocurrencies.

Major Events To Watch

Crypto Fear and Greed Index:

As per the Fear and Greed Index, it is at 60 Greed, slightly down from yesterday's 61 Greed, a significant shift from last week's 25 Extreme Fear.

Cryptocurrency prices have fallen over the past 24 hours

TOP 5 Losers Coins

Latest Market Update: 

• Bitcoin (BTC) remains below $65,000 early Friday.

• Major altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), are all in the red.

• Mantle (MNT) is the biggest gainer with a 24-hour increase of over 11%.

• Ripple (XRP) is the biggest loser with a 24-hour decline of over 8%.

• Total crypto market volume in the last 24 hours is $69.02 billion, down by 9.24%.

• Total DeFi volume is $4.29 billion, making up 6.21% of the total market volume.

• Stablecoins volume stands at $63.21 billion, accounting for 91.58% of the total market volume.

• Bitcoin’s dominance is at 53.88%, showing a slight decrease of 0.03% over the day.

Major Worldwide News Update:

• On July 18, the ECB paused rate changes, prompting speculation that the U.S. Fed may follow suit, with the IMF recommending rate cuts be postponed until late 2024. The ECB’s decision aims to manage inflation, while the Fed's cautious stance could impact Bitcoin and the broader crypto market by reducing investment in riskier assets.

• The WazirX hacker has converted all stolen altcoins into Ethereum (ETH), now holding 59,097 ETH worth $201 million. This includes 15,298 ETH stolen from the exchange and 43,799 ETH obtained by liquidating other assets. As the spot Ethereum ETF is set to launch next week, ETH remains stable at $3,400, with a potential rally to $4,000 anticipated.

• Despite sanctions, Tornado Cash saw a 50% increase in deposits to $1.9 billion in H1 2024. This surge comes amid ongoing legal issues and sanctions by the OFAC for laundering $455 million for North Korean hackers. Notable deposits include funds from recent major hacks, with ongoing legal challenges from crypto advocates.

• With the Ethereum ETF launch approaching, Grayscale has slashed its Ethereum mini-trust fees to 15 basis points, offering a fee waiver for up to $2 billion in inflows or six months. This adjustment makes Grayscale's ETH mini-trust the cheapest among competitors. ETF Store President Nate Geraci praised this strategic move.

• Google, Microsoft, Nvidia, OpenAI, and others have launched the Coalition for Secure AI (CoSAI) to address AI safety concerns. Announced at the Aspen Security Forum, CoSAI aims to establish standardized security frameworks, focusing on software supply chain security, defender preparedness, and AI governance. The coalition seeks to enhance AI security across the industry.

• On July 18, Pixelverse launched its PIXFI token with a significant airdrop, seeing a nearly 50% price increase initially. PIXFI is now listed on multiple exchanges. The airdrop allocated 10% of tokens to NFT holders and will distribute another 20% to users over time. Pixelverse is known for the popular game PixelTap.
  

COIN GABBAR Views: What will it take for Bitcoin (BTC) to break above $65K? Bitcoin analysts are predicting $74K as the next target. Is BTC's price heading toward $70K? Is a bull run near for Bitcoin? Will BTC continue its bullish momentum? How might the WazirX hack impact Bitcoin and the broader crypto market? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

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