Bitcoin hash rates continue to fall, Ethereum could overtake Bitcoin, DeFi exploits and carpets are still very active by BTC Peers

• Bitcoin’s hash rate has reached its lowest level since 2019. Similarly, the network’s mining difficulties have fallen by almost 28%, and it has been the biggest drop ever since Bitcoin was launched in 2009.
• Ricardo Pliego, one of Mexico’s richest men, has endorsed Bitcoin, revealing that he is working with his bank to become the first institution to support cryptocurrency as the main currency. The billionaire’s statements forced the Mexican authorities to step forward and ratify the ban on cryptocurrencies.
• A Paraguayan lawmaker has clarified the supposed support for Bitcoin, stating that digital assets will not become a legal license in the country, but will be regulated. And of course, the Bitcoin critic was in the corner to praise the decision. Economist Steve Hanke of Johns Hopkins University calls the decision to regulate Bitcoin a good idea.
• Cathie Wood’s Ark Invest has partnered with European issuer of 21Shares exchange-traded products to present a Bitcoin ETF.
• Craig Wright has won his legal battle against Bitcoin.org founder under the name Cobra. As a result, the latter has been forced to remove the Bitcoin white paper from its website.
• U.S. Senator Cynthia Lummis said Bitcoin as a possible retirement strategy. The senator also invited the miners to relocate to Wyoming.
• A U.S. lawmaker has proposed giving the courts the power to reverse crypto transactions.
• Bitcoin mining company Argo has taken out a $ 20 million loan to build its Texas facility.
• Wall Street’s “valuation dean” believes that Bitcoin has failed as a currency. Another U.S. congressman also called on the government to close all cryptocurrencies because of its high volatility.
• Following the agreement between the NYDIG and the NCR (NYSE :), about 650 U.S. banks will be able to offer Bitcoin services directly to customers.
• Bitcoin miners are not the only ones downloading their mining platforms after China’s crackdown on cryptocurrencies. Small hydroelectric plants have also been put up for sale on Chinese websites.
• Bitcoin has recorded its worst Q2 performance since 2018.
• Iran is considering banning Bitcoin payments.
• About 44% of institutional asset managers believe that Bitcoin will close below $ 30,000 a year.

• Ethereum has surpassed Bitcoin in address activity for the first time in history.
• According to Mike Novogratz, Ethereum could advance Bitcoin to become the world’s largest cryptocurrency in the future.
• The data show that Ethereum’s crypto exchange balance has fallen to very low levels, thus reducing the risk of large sales.

Other News

• The BTC PEERS team took an in-depth dive into how the UNA blockchain is tackling global pollution from a different perspective. We also looked at how YDragon shapes the cryptocurrency investment sector through portfolio diversification.
• UK regulators have banned Binance exchange. Binance’s fight with regulators also extended to Thai SEC and Cayman Island regulators, who were the first to file a criminal complaint against the exchange for operating without a license.
• The Ukrainian government has passed a new law that places its digital currency at the same level as fiat.
• SafeDollar, the DeFi protocol in the Polygon blockchain, was attacked last week. The assailant stole nearly $ 250,000.
• Despite India’s volatile cryptocurrency regulations, more Indian investors in the sector were introduced and caused an increase of almost 20,000 per cent in the last year. Meanwhile, Indian exchanges are struggling to gain access to banking services.
• Coinbase has become the first crypto exchange leader in Germany to secure a crypto surveillance license.
• The team behind the DeFi protocol was quickly thrown out by WhaleFarm to investors after running a carpet pull. More than $ 2 million was stolen from investors, the price of the token fell by almost 100%.
• Robinhood has released details of the upcoming IPO.

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