@cryptocracy 20 July 2022 more from that month

Crypto Back Over $1 Trillion Market Cap If you’d like to see payouts like the one below on Hive, join me tomorrow at 12 noon CDT for a microclass on **Clubhouse**. I’ll be giving an introduction to **Hive.blog** and why I think it should be on your regular posting schedule. https://www.clubhouse.com/ https://hive.blog/

**How to join:** Download Clubhouse. Follow Ryan Gerardi. Click on his profile and look for a room titled “Free Microclass” related to cryptosocial media. Today’s Crypto Goings On … The crypto market cap **reclaims $1 trillion**. *Nothing about this says it couldn’t dip below $1 trillion again. While BTC is* ***over $23,000*** *and ETH is over $1,600, there is still inherent volatility in the crypto markets. It could go down before it goes up again.* https://cointelegraph.com/news/total-crypto-market-cap-reclaims-1-trillion-as-bitcoin-ethereum-and-altcoins-breakout https://www.coindesk.com/markets/2022/07/19/market-wrap-bitcoin-breaks-above-23k-as-investor-fears-recede/ Ethereum **rallies 80 percen**t from June lows. Is the Merge **driving this rally**? Or maybe it’s the **calming of macroeconomic fears**. Analysts expect Ethereum to **bottom out at $675** this year before bouncing back to $1,700. The Merge appears to be **the next narrative** in crypto. Meanwhile, ETH staking service Lido Finance plans to **expand staked ether support** across Layer-2 solutions. *Ethereum developers have set a hard date on the Merge. That certainly boosted investor confidence and could be a prime cause for the rally, but there are other reasons to be hopeful about the economy overall.* https://www.forbes.com/sites/rufaskamau/2022/07/19/bitcoin-rallies-20-while-ethereum-rallies-80-from-june-lows-are-we-out-of-the-woods/?sh=48ee78bb5b8b https://www.coindesk.com/layer2/2022/07/19/is-the-ethereum-merge-driving-this-rally/ https://fortune.com/2022/07/19/ethereum-ether-crypto-altcoins-soar/ https://www.finder.com/ethereum-eth-price-prediction https://www.coindesk.com/podcasts/the-breakdown-with-nlw/the-ethereum-merge-settles-in-as-next-crypto-narrative/ https://cointelegraph.com/news/ethereum-staking-service-lido-announces-layer-two-expansion Has Tether stood the **test of time**? *Let’s just say it’s stood.* https://www.bloomberg.com/news/videos/2022-07-19/tether-has-stood-the-test-of-time-says-co-founder Since 2014, Ripple founder Jed McCaleb has been selling off his XRP and has made about **$3 billion**. Ripple says they made Jed McCaleb an **accidental billionaire**. And a U.S. Congressman has weighed in on whether **XRP is a security**. *One could say every crypto billionaire is an “accidental” billionaire.* https://bitcoinist.com/by-the-numbers-jed-mccaleb-earned-selling-xrp-2014/ https://coingape.com/ripple-takes-a-dig-on-jed-mccaleb-xrp-sell-off/ https://u.today/us-congressman-says-xrp-is-a-security Coinbase users experienced difficulty accessing funds over the weekend. The crypto exchange cited “**technical issues**.” https://gizmodo.com/coinbase-reddit-crypto-binance-1849192138 Binance **holds more bitcoin** than Coinbase. Binance will soon announce a **corporate headquarters**. The crypto exchange has also been **fined $3.4 million** by the Dutch Central Bank. One might expect Coinbase and Binance to make the top three crypto exchanges list, but **what about Kraken**? *With so many contenders, Kraken has managed to make the list twice consecutively.* https://www.financemagnates.com/cryptocurrency/news/binance-now-holds-more-bitcoin-than-coinbase/ https://decrypt.co/105376/where-is-binance-hq-ceo-cz-says-coming-due-time https://www.yahoo.com/now/crypto-exchange-binance-fined-3-100639085.html https://pulse.bitfinex.com/post/News/20220719174625327 The **NFT creator economy** is booming. However, from May to June, NFT trading volume plunged **74 percent**. These are the top 10 NFT collections by sales earnings in the last 30 days (sent by email from **Crypto.News**): https://appdevelopermagazine.com/nft-creator-economy-is-booming/ https://www.upi.com/Top_News/US/2022/07/19/NFT-trading-plunges/7311658235546/ https://crypto.news/ Bored Ape Yacht Club - 368 sales totalling $41.5m CryptoPunks - 528 sales totalling $37.7m Otherdeed for Otherside - 4,690 sales totalling $25.4m  Mutant Ape Yacht Club - 991 sales totalling $20.9m  CLONE X - 1,001 sales totalling $13.7m Moonbirds - 535 sales totalling $13m goblintown.wtf - 2,912 sales totalling $12.7m Doodles - 652 sales totalling $10.6m  Moonrunners - 22,349 sales totalling $9m Azuki - 612 sales totalling $8.5m Litecoin **trolls Twitter account** of Shiba Inu’s lead developer. *A Has-Been and a Never-Was walk into a bar ….* https://www.thecoinrepublic.com/2022/07/18/litecoin-takes-a-dig-at-shiba-inu-main-actor/ The American Hospital Association tells health professionals how they can **advance in the metaverse**. Meanwhile, an Egyptian teen creates **his own metaverse**. If you have any interest in the metaverse, you’ll want to know if it’s **going to suck**. https://www.aha.org/aha-center-health-innovation-market-scan/2022-07-19-4-ways-frame-your-future-metaverse https://www.aljazeera.com/program/newsfeed/2022/7/19/egyptian-teen-creates-his-own-metaverse https://www.theverge.com/23269170/what-is-the-metaverse-matthew-ball-interview-decoder-podcast How to leverage your **NFTs for crypto loans**. *There’s no doubt that NFTs are digital assets. Therefore, there’s no reason they can’t be used as collateral for loans.* https://btcpeers.com/leveraging-your-nfts-to-access-loans-with-peer-2-pool-lending-model/ A **new token standard** promises to lower costs of NFT creation. https://thedefiant.io/nfts-erc721i-standard/ What do recent **crypto lender collapses** mean for the broader crypto market? *Beware!* https://www.wealthprofessional.ca/investments/alternative-investments/what-do-recent-collapses-mean-for-the-broader-cryptosphere/368328 The SEC wants to play “**nice but firm**” with crypto. *Isn’t that sweet?* https://www.business2community.com/crypto-news/genslers-sec-looks-to-play-nice-but-firm-with-crypto-02524678 Auction house Christie’s launches **Web3 venture fund**. https://www.ledgerinsights.com/christies-venture-fund-web3-blockchain/ Top Monero developer “Fluffypony” **ordered to appear** in Western Cape Regional Court. *Who’d expect someone going by the name of Fluffypony to be accused of fraud? I’d expect something like “cuddling with animals.” But, no, that would be too cute.* https://www.moneyweb.co.za/moneyweb-crypto/crypto-entrepreneur-fluffypony-warned-to-appear-in-cape-regional-court-on-decade-old-charge/ *The Simpsons* animator to launch a film- and TV-focused **NFT and DeFi marketplace**. https://deadline.com/2022/07/the-simpsons-erick-tran-nft-hollywood-animation-series-the-mogies-mogul-productions-1235071311/ Exploring the **Web3 paradox**. *It’s an interesting analysis. Web3 promises more freedom and control over one’s assets, identity, and data, but it won’t be free. Web2 isn’t free either. You pay with the loss of your digital assets and less control over your identity. With Web3, you’ll pay with your digital assets but have more control, and the internet will be decentralized. The natural outcome of this will be a digital class system that mirrors the real world.* https://www.investmentmonitor.ai/comment/opinion-web3-paradox-big-tech-problem 8 things you should know about **crypto taxes**. https://www.bankrate.com/investing/crypto-taxes-guide-bitcoin-ethereum/ U.S. government officials must now **declare NFT holdings**. https://beincrypto.com/us-government-officials-must-now-publicly-declare-nft-holdings/ Are museums and NFTs a **match made in heaven**? https://www.museumnext.com/article/museums-and-nfts/ Major crypto bill to be **deferred until next year**. https://cointelegraph.com/news/lummis-gillibrand-crypto-bill-likely-deferred-to-next-year Will digital dollars ever **replace hard currency** in the U.S.? *Money changes over time. It’s possible, but not likely any time soon.* https://www.popsci.com/technology/digital-currency-us/ How DAOs can combat **hostile takeovers**. 6 **problems inherent with DAOs**. *There are upsides and there are downsides.* https://cointelegraph.com/news/ethereum-community-conference-5-how-can-daos-combat-hostile-takeovers https://adrien-book.medium.com/the-problem-with-decentralized-autonomous-organizations-9b31dc8df740 MetaMundo to bring 3D art to **multiple metaverses**. https://cointelegraph.com/news/3d-nft-marketplace-bridges-three-dimensional-functionality-across-metaverses Three Arrow Capital’s biggest creditor was **Digital Currency Group**. https://www.hedgeweek.com/2022/07/19/316172/digital-currency-group-revealed-3acs-biggest-creditor The credit union that wants in on **decentralized finance**. https://www.utahbusiness.com/credit-unions-offering-cryptocurrency-in-utah/ The Twitter account of a popular NFT influencer **has been hacked**. In fact, a hacker group may be **targeting NFT communities** on a broader scale. https://www.coindesk.com/business/2022/07/19/another-twitter-hack-hits-the-nft-community/ https://www.coindesk.com/tech/2022/07/19/bored-apes-creator-warns-of-threat-group-targeting-nft-communities/ Former Tencent exec to join **Animoca Brands**. https://techcrunch.com/2022/07/19/tencent-insurance-web3-animoca-brands/ *Snark and commentary in italics.* Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. *First published at* *Cryptocracy**. Not to be construed as financial advice. Do your own research.* https://cryptocracy.substack.com/p/crypto-reclaims-1-trillion-in-market