Trillions bleed from the global markets and BTC tumbles below $50k!

GM anon ☕🐺

In today’s Alpha Bytes👇

Over $500B got eradicated from the crypto market cap. Bitcoin tumbled below $50k before eventually recovering. DeFi liquidations hit yearly high above $350M in past 24 hours amid market turbulence. Meanwhile in the TradiFi world, almost $1.93T got wiped out from the US stock market in the worst market crash since 1987!

BTC $52, 753 (-12.43%), ETH $2, 357 (-18.22%), SOL $123.22 (-12.24%) 

Crypto News 📰 

• Crypto Futures witness $840M in Liquidations, Ether records biggest fall since 2021

• Tron Founder Justin Sun bursts rumors of Leverage Trading Liquidations

• The Strategic Bitcoin Reserve bill has been officially introduced

• VanEck CEO foresees Bitcoin hitting $350k as regulators begin quantitative easing

• US could ‘Pay Off Our Debt With Bitcoin’, says Donald Trump

• Number of new Ethereum addresses plunges to lowest level this year

• Most Bitcoin layer-2 networks won’t survive: Galaxy Research

• BTC price slumps to $62K as Bitcoin bulls bet on M2 money supply

• Grayscale Bitcoin trust BTC holdings dropped 55% in first half of 2024

• Crypto Market Rout resumes as equities trading briefly halted in Japan

• Polymarket traffic surpasses DeFi giants amid Trump-Harris election betting craze

• NEIRO ETH price tanks 27% as Vitalik Buterin dumps 17B tokens

• Genesis begins distributing $4B in assets to creditors, creates legal fund to sue DCG, others

• Ripple faces risk of another SEC lawsuit

• ZKX investors, market makers say they were blindsided by sudden shutdown

• CFTC subpoenas Ben ‘BitBoy’ Armstrong’s former company in fraud investigation, asks about activity for tokens such as BEN

• Solana DeFi trading volume tops Ethereum for the first time in july

• Futu Securities is the first online brokerage to sell crypto directly to retail investors, rewarding early users with tech stocks or Bitcoin

• Instagram and Facebook veteran joins crypto VC Paradigm as CMO

• Morgan Stanley first in Wall Street to authorize spot Bitcoin ETFs for wealthy clients

• Japan’s Stock Market suffers worst losses since 1987

Airdrops🪂 

• @MorphoLabs $MORPHO 

• New projects in Monad ecosystem ($16M)

• AIRDROP TO DO LIST

Project Updates 🔥 

• @HashKey_Capital speaks out about ZKX

• @pacmoon_ migrating soon

• @ambergroup_io speaks out about ZKX

• $EURC is now officially live on @base

• @TeamKujira announces recovery plan

• @injective completes Altaris upgrade

• @LidoFinance introduces Lido Institutional

• @initiaFDN introduces Initia VIP

• @Polymarket to build on @ton_blockchain via @skate_chain

• Introducing @EdgeLayer - powered by Vertex

• Info on @deBridgeFinance $DBR's launch

• Fantom officially rebrands to @0xSonicLabs

• @KaminoFinance releases info about v2, token utility and more

• @elixir changes farming terms

Threads 🧵 

• @VitalikButerin new article about museums of the future

• @kez4twez thread on why trenches are cooked

• Berachain PoL flywheel

• What is loss verse rebalancing (LVR) in DeFi?

• Exploring Bitcoin for Data Availability

Launches 🚀 

• @0xfluid NFT Mint 

• ORE Upgrade 

• @EnsoFinance COMMUNITY AUCTION LIVE 

• @UniversalAsset_ Launches Universal Mainnet Beta 

Fundraise 💰

• Chateau secures seed round led by Hack VC

• Breakout secures $4.5M funding 

Videos 🎥

• @0xMughal - How To Use Farming Real World Assets On Chain 

• @thebellcurvepod - Can Crypto Survive a Recession? 

That's a wrap for today!

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