Dune data shows that Linea mainnet has bridged 729,690 ETH with a transaction volume of 1,179,162 and 543,392 interactive addresses. According to L2BEAT data, the current Linea TVL is $1.17 billion with a 7-day decrease of 7.82%.

Bloomberg ETF analyst James Seyffart forwarded market news on X platform, stating that during the Bitcoin 2024 conference, Discover Crypto CEO Joshua Jake was interviewed and he said that XRP ETF could be the next possible exchange-traded fund product to launch.

Hong Kong Monetary Authority recently announced the list of participants in the stablecoin issuer sandbox, including JD Coin Chain, Circle Coin Innovation, Standard Chartered Bank, Anni Group, Hong Kong Telecom and other institutions. Research reports released by Zeng Shengjun, a researcher at the Greater Bay Area Financial Research Institute of the Shenzhen Branch of Bank of China, and Guan Zhenqiu, a researcher at the Hong Kong Financial Research Institute of Bank of China, analyzed that the Hong Kong dollar stablecoin can improve the efficiency and inclusiveness of the Hong Kong financial system. Its stability, free convertibility, high security, high open source and cross-border mobility can provide support for a wider range of financial innovations.

For example, financial institutions that have obtained the qualification of stablecoin issuers in the sandbox can use the opportunity to issue stablecoins to strengthen the research and development of new products such as blockchain, and further enhance their financial technology strength around the goal of improving transaction efficiency, reducing transaction costs and improving the existing payment system. Financial institutions can closely follow the progress of Hong Kong's stablecoin pilot policy, gradually expand their service scope, such as researching and launching stablecoin trading counter services, launching stablecoin custody services for institutional investors, and launching digital asset consulting services including stablecoin consulting, trading and blockchain node operation.

Republican Senator Bill Hagerty from Tennessee is working to promote legislation supporting Bitcoin to promote freedom and opportunity.

On July 27th, it was announced that the encrypted consumer application, Abstract, has launched its testnet supported by ZK Stack. This testnet operates as an L2 on the Ethereum Sepolia testnet. Developers can use this testnet to test their applications and ensure smooth operation before the Abstract mainnet launches later this year.

According to Trader T, two Bitcoin funds under BlackRock and Fidelity have entered the top 10 ETF list for capital inflows this year:

- Highest return rate: IBIT and FBTC have the highest return rate since the beginning of the year, reaching 45.5%;

- Rich liquidity: IBIT's 30-day trading volume is close to QQQ, which is very important for bulk trading.

Saga announced in a post on X that the distribution of Vault 3 Saga tokens has been completed. The distribution to partners is based on a rolling basis and most of it has been completed.

According to a recent report from QCP Capital, the performance of the Ethereum spot ETF in its first week of trading was similar to that of the Bitcoin spot ETF in its first week. ETH fell from a high of 3563 to a low of 3086. The reasons for the similar trends are as follows:

1. Grayscale's high fee of 2.5% continues to drive capital outflows. So far, 8 Ethereum spot ETFs have seen a net outflow of $178 million, while Grayscale has seen a net outflow of $1.16 billion in just 4 days;

2. Despite Grayscale's launch of the most competitive 0.15% fee mini ETF (ETH), net outflows still dominate, with only 10% of initial ETHE converted to ETH;

3. The cryptocurrency market is experiencing the classic "buy the hype, sell the news" phenomenon.

Reasons hindering the rebound of ETFs after their launch include:

1. Unlike BTC's "digital gold" slogan, ETH may be a rather abstract concept for traditional industries and will take time to absorb;

2. The motivation for investors to purchase Ethereum spot ETFs without collateral functionality is lower.

In terms of options markets:

Ironically, Bitcoin stole the show in the options market this week, not ETH, as everyone was focused on Trump's speech at the Bitcoin conference on Sunday. After experiencing the "Trump effect" last weekend, the options market expects implied volatility to reach 85 volatility on July 28, almost twice the actual volatility.

WazirX has released an update on recent security events: in order to facilitate the management of users' remaining assets, we will provide two options, each with specific benefits and conditions. 55% of users' encrypted assets will be available for trading and/or withdrawal (depending on the option chosen by the user), while the remaining 45% will be converted into USDT or equivalent tokens and locked.

For these two options, we will use a basket of encrypted assets available on the platform to create a balanced investment portfolio for unlocking part of the user's assets (55%). If 55% of the unlocked investment portfolio contains affected tokens, we will balance it by replacing the affected portion with a basket of unaffected encrypted assets available on the platform.

Unlocking locked tokens is related to subsequent asset recovery work. This includes tracking and recovering stolen assets, cooperating with partners to make up for losses, and exploring compensation methods, including possible airdrops. Users who choose option 1 can benefit from the profits (if any) we can obtain from ongoing or future recovery work.

The value of the unlocked investment portfolio (55%) will be calculated based on the average price of CoinMarketCap and selected global exchanges on the evening of July 21, 2024 at 8:30 pm (IST).

Please submit your choice before 7:00 am (IST) on August 3, 2024. This survey does not have legal binding force on users or the WazirX platform. After considering the results of this survey and other factors (including ongoing survey results, platform liquidity, and any changing circumstances), a final decision will be made for future development.

Bitcoin mining company Marathon Digital is seeking to collaborate with blockchain developers to build a Bitcoin L2 cross-border payment solution. Julian Duran, the company's sidechain product manager, revealed this information at the Bitcoin 2024 conference on July 26.

Duran stated that cross-border payments are "the biggest use case for blockchain, especially Bitcoin." He pointed out that in emerging markets, the average cost of overseas remittances is 8% to 10% of the transaction value, and settlement typically takes 3-4 days. In contrast, Bitcoin transfers are typically completed within 10 minutes, and second-layer solutions may be even faster.

Marathon is also focusing on the tokenization of real-world assets (RWA), having already begun plans to tokenize whiskey barrels in the United States and partnering with an RWA platform to protect a French castle.

It is worth noting that Marathon is one of the largest holders of Bitcoin among enterprises, with a Bitcoin reserve of about 20,000 coins worth over $1 billion. In July alone, the company purchased about $100 million worth of Bitcoin.