Ndax Weekly TL;DR July 29th

Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.

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Top Stories

Happy Monday, Ndaxers— Here’s what happened last week:

Trump Proposes National Bitcoin Reserve at Bitcoin 2024 Conference
Vitalik Buterin Unveils Circle STARKs for Enhanced Blockchain Efficiency and Security
Senator Roger Marshall Withdraws Support for Anti-Crypto Bill Co-Created with Elizabeth Warren
X (Twitter) Puzzles Crypto Community by Removing Cryptocurrency Emojis

At the Bitcoin 2024 conference in Nashville, former President Donald Trump delivered a keynote speech endorsing the cryptocurrency industry and announcing his plan to establish a national Bitcoin reserve if elected. Trump highlighted the need for the U.S. to lead in crypto technology, criticized current regulatory policies, and promised to make the U.S. the "crypto capital of the planet." This marks a significant shift from his previous anti-crypto stance, signaling his strategic pivot to gain support from the crypto community in his 2024 presidential campaign. crypto.news

Ethereum co-founder Vitalik Buterin has introduced Circle STARKs, a new cryptographic protocol aimed at improving blockchain security and efficiency. Circle STARKs use a new method that speeds up the verification process and reduces computational costs, making blockchain operations faster and more efficient. This innovation addresses inefficiencies in previous systems and enhances security by implementing additional checks to prevent attacks. With Circle STARKs, blockchain technology can achieve quicker transactions and stronger protection against potential threats. Cointelegraph

Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act (DAAMLA), an anti-crypto bill he co-sponsored with Democratic Senator Elizabeth Warren in 2022. Marshall's withdrawal on July 24 leaves 18 senators still backing the bill, which aims to regulate the crypto industry under existing anti-money laundering and counter-terrorist financing laws. The legislation, reintroduced by Warren in July 2023, classifies various crypto service providers as financial institutions subject to the Bank Secrecy Act. Critics argue that the bill exaggerates crypto's role in illicit activities and could severely impact the U.S. crypto industry and investors. Cointelegraph

Social media platform X has removed several cryptocurrency emojis, including those for Bitcoin, which had been in use for over four years. The removal, coinciding with the Bitcoin 2024 conference, has left the crypto community puzzled and saddened, with many advocating for the creation of an independent, universal digital symbol by Unicode. The decision has sparked concerns about freedom of expression and the recognition of Bitcoin's impact on global economics. Emojis for other cryptocurrencies like Cronos and BNB have also been deleted. Cointelegraph

Weekly Moves

As of 07-28-2024 at 8:40 PM EST

Market Summary

Over the last seven days, the global cryptocurrency market cap has seen a slight decrease, stabilizing around CA$ 3.35 trillion.
Bitcoin's market dominance has increased to 55.6%, showing a slight rise compared to last week's data, while Ethereum's share has slightly decreased to 16.2%.

Performance

Over the past 24 hours, the price of BTC has fluctuated between CA$95,500 and CA$94,214 registering a 1.03% change over the past week and a market cap of CA$1.9 trillion. At Ndax, the weekly movers are PYTH, which saw a 5% increase in the last seven days reaching a market cap of CA$1.9 billion, and JASMY, which experienced a 4% rise with a market cap of CA$2.1 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market.
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From Ndax Lighthouse

Dive into our latest blog to discover how the Proof of Stake consensus mechanism has transformed the cryptocurrency landscape. Learn about its origins with early adopters and how it has evolved to enhance network security, block validation, and reward mechanisms. This article provides valuable insights into the advantages of staking, the challenges Proof of Stake addresses compared to Proof of Work, and its growing role in major blockchain projects. To learn more click here.

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Upcoming Events

Mark your calendars!

July 31: US Interest Rate Announcement
September 4: MATIC to POL Migration
Q3 2024: Cardano Chang Hard Fork

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Happy trading,
The team at Ndax