Rhythm Morning News｜A list of important news from last night and this morning on July 2

Bitcoin hashrate drops to December 2022 levels, indicating that its price may have bottomed

BlockBeats news, July 2, according to CryptoQuant data, the Bitcoin network hashrate has dropped to a level not seen since December 2022, when the FTX collapse triggered a bear market. The current real Bitcoin hashrate is down -7.6%, suggesting that Bitcoin prices may have bottomed.

Other indicators such as Bitcoin exchange reserves, miner position index (MPI) and Bitcoin miner reserves also show low selling pressure, supporting the view of the market bottom. Capriole founder Charles Edwards pointed out that the Bitcoin hashrate band indicator sent a buy signal, reflecting the slowdown in network computing power.

Market analyst Will Woo said the market will not reach new highs until weaker miners are forced to shut down operations. Recently, withdrawals from Bitcoin miners fell by 90% after the halving, further indicating that selling pressure has eased and Bitcoin prices are expected to continue to rise.

The US SEC has accepted the Bitcoin and Ethereum dual ETF 19b-4 application submitted by Hashdex

BlockBeats news, on July 2, The ETF Store President Nate Geraci said that the US SEC has confirmed the acceptance of the Bitcoin and Ethereum dual ETF (Hashdex Nasdaq Crypto Index US ETF) 19b-4 application previously submitted by Hashdex. The ETF will hold spot Bitcoin and Ethereum.

SOFA.org announces SOFA airdrop participation requirements

BlockBeats news, on July 2, SOFA.org officially announced the SOFA token airdrop participation requirements, namely:

Use SOFA.org's EARN and SURGE products;

Actively participate in the TG/Discord community;

Contribute to the community (create content, dashboards, etc.);

Hold RCH tokens.

More details will be announced in the future.

Colorpepe conversion progress has reached 100%

BlockBeats news, on July 2, according to the official website of Meme launchpad platform Color, Colorpepe conversion progress has reached 100%.

BlockBeats previously reported that Meme launchpad platform Color announced the launch of the BC-404 hybrid contract standard, which combines ERC-404 and Bonding Curve. The number of tokens required to convert NFTs will increase with the overall conversion process. The first BC-404 Meme asset on its platform will be launched on Base, allowing users to use PEPE tokens to convert to ColorPEPE across chains with one click, and can be converted back at any time with principal guaranteed.

Pixels is about to launch a major update

BlockBeats news, on July 2, Ronin officially announced that the chain game Pixels is about to launch a major update.

Pixels CMO heidi said, "We want to make a new type of game that will change the way most games are played forever. We want to make the game play while playing." Pixels will be changed as often as needed until it is in the best state. The task board update has just been implemented to provide incentives to higher-level players.

Pixels founder Luke Barwikowski will publish an article tomorrow with more in-depth updates and plans for Pixels.

Notcoin team plans to develop a "trading robot" feature

BlockBeats news, July 1, according to Decrypt, Notcoin founder Sasha Plotvinov said that the team plans to develop a "trading robot" feature in Notcoin, allowing users to buy and sell crypto tokens through Telegram.

Jupiter announced that it will issue active staking rewards to users who voted on proposals from March to June

BlockBeats news, July 1, according to official news, Solana ecosystem DEX Jupiter said that in the next two months, Jupiverse will conduct 3 key votes and 2 token releases.

In July, for the first time, active staking rewards (ASR) will be issued to all users who voted on proposals from March to June.

Next, sanctum will issue CLOUD tokens on LFG Launchpad.

Before the end of July, Jupiter will conduct the first key J4J vote to reduce long-term emissions and JUP token supply by 30%.

August will start with a vote on the continuation of Jupuaries, and Jupiter product users will receive JUP airdrops.

Subsequently, DeBridge will issue DBR tokens on the LFG Launchpad.

Finally, a vote will be held on the last element of the new J4J plan, deciding to continue the ASR beyond the first two quarters.

Backpack wallet now supports the Base network, and the Base network token exchange function has been opened in the wallet

BlockBeats news, July 2, according to official news, Backpack developers released a wallet update, Backpack wallet now supports the Base network.

Base network is now available on the Backpack wallet browser extension and will be available on Android and iOS soon. Token swaps are available on Ethereum, Arbitrum, and Base networks.

In addition, Backpack wallet will now display additional warnings about spam NFTs on Solana.

Aptos Foundation proposes to deploy Aave V3 on the Aptos mainnet

BlockBeats news, on July 1, the Aptos Foundation proposed to deploy Aave V3 on the Aptos mainnet, an open source liquidity protocol managed by Aave DAO.

The proposal is currently in the "temperature check" stage, an early stage process that involves collecting feedback from the Aave governance community before moving forward. (The Block)

Fantom Foundation announces that the third Sonic governance proposal has been passed, involving ecosystem funding, etc.

BlockBeats news, July 2, according to official news, Fantom Foundation announced that the third Sonic governance proposal has been passed, and funding for ecosystem funding, marketing, partnerships, and innovative projects such as Sonic Spark and Sonic University are coming soon.

BlackRock acquires alternative market data provider Preqin

BlockBeats news, July 2, The ETF Store President Nate Geraci disclosed that BlackRock acquired alternative/private market data provider Preqin, seeking to use this data to eventually create ETFs.

Nate Geraci said, "'Use data' = copying, because obviously you can't create an ETF that holds private market investments. I think this is a difficult problem."

Paxos has been approved by the Monetary Authority of Singapore to issue stablecoins and will cooperate with DBS Bank

BlockBeats reported that on July 2, stablecoin issuer Paxos announced that it had obtained full approval from the Monetary Authority of Singapore (MAS), and its Singapore entity Paxos Digital Singapore Pte. Ltd. can provide digital payment token services as a major payment institution.

Paxos will be able to issue stablecoins based on MAS's upcoming stablecoin framework. At the same time, DBS Bank will become Paxos' partner in cash management and stablecoin reserve custody.

Paxos has previously been approved to issue stablecoins in the United States and the UAE. So far, a total of 19 crypto companies have obtained Singapore's Major Payment Institution (MPI) license, including Paxos, Blockchain.com, Circle and Coinbase.

Silvergate will pay $63 million to reach a settlement with regulators such as the US SEC

BlockBeats reported that on July 2, Silvergate Capital Corp., the parent company of the crypto-friendly bank Silvergate Bank, has agreed to pay $63 million to reach a settlement with the US SEC, the Federal Reserve and the California Department of Financial Protection and Innovation (DFPI). Regulators accused it of failing to maintain an adequate anti-money laundering program and making misleading disclosures about the effectiveness of that program.

Silvergate was fined $43 million by the Federal Reserve and $20 million by California regulators, who also cited deficiencies in the bank's tracking of insider transactions. The SEC also fined it $50 million, but does not expect to increase the total fine.

The SEC said any fine owed by Silvergate could be offset by amounts it pays to bank regulators, and the settlement is subject to court approval. The SEC also charged former Silvergate executives. Former CEO Alan Lane and former COO Kathleen Fraher agreed to settle, while former CFO Antonio Martino denied the allegations.

The U.S. Department of Justice paid Coinbase $32.5 million for cryptocurrency custody and trading services

BlockBeats news, on July 1, according to The Block, the U.S. Department of Justice (DOJ) paid Coinbase $32.5 million to use its custody and trading services to dispose of confiscated cryptocurrencies.

欢迎加入律动 BlockBeats 官方社群：

Telegram 订阅群： https://t.me/theblockbeats

Telegram 交流群： https://t.me/BlockBeats_App

Twitter 官方账号： https://twitter.com/BlockBeatsAsia