This year, a new financial product appeared on the cryptocurrency market - a crypto ETF, which makes it easier for large investors to buy top coins through well-known investment funds. In the winter, the world began to invest in Bitcoin ETFs, in the summer - in Ethereum ETFs. There are also talks about the prospects of widespread adoption of Solana ETFs2024. This trend can be seen in the Bitcoin price, which has risen by about a third since the beginning of this year - from 42.2 thousand US dollars to 59.1 thousand US dollars.Therefore, our editors decided to find out whether the popularity of crypto ETFs will help pull the price of famous coins out of the correction triggered by the fall in the value of cryptocurrencies and the US stock market in August.

Note: This material should not be considered financial or investment advice or an offer. Each crypto investor is personally responsible for decisions regarding investments in digital assets.

Did the cryptocurrency market recover in August

A serious correction in the top coins in the crypto market began in early August. According to Coinmarketcap, the tokens recorded a August the following decline:

• BTC fell to 49.8 thousand US dollars (early August – 64.8 thousand US dollars),
• ETH fell by $2226,000 (early August - $3196),
• SOL fell in price to $112,000 (early August - $170.8).

The overall decline in the Bitcoin price in the last summer month was 10.5%, Ether - 24%, Solana - 24.5%.

As we explained, a significant drop in the value of the top coins was caused by the Bank of Japan's decision to reduce the discount rate, as well as the release of weak quarterly reports by global technology companies. As a result, panic began among investors on theWorld Market:

• Shares of global tech giants plunged - Apple, Microsoft, Meta, etc.
• The yen-dollar pair experienced exchange rate fluctuations: the yen strengthened and the dollar fell.
• Investors have reconsidered their investment portfolios: They have withdrawn money from stocks and bought government bonds from various countries.

At the same time, despite the negative dynamics at the beginning of August, the price of these cryptocurrencies partially recovered. As of August 31, the coins cost:

• Bitcoin – 59.2 thousand US dollars,
• ether – $2524,
• solana - $137,

Experts believe that cryptocurrency attempts to return to pre-August levels are caused by two key factors:

1.Period after the halving.We would like to remind you that according to the technological model of digital gold, a halving of Bitcoin occurs every four years worldwide.After that, Bitcoin could rise to new historical highs within 6 months. This year, crypto investors expect such growth in October.

"This year's halving hasn't worked yet, so we can expect growth, but only after the election of the new US president, which will take place on June 5th. November will take place,” says financial advisor Mikhail Patsan.

2.In 2024, the crypto market will be greatly affected by the popularity of spot bitcoin ETF. The fact is that from time to time there is a significant capital inflow into cryptocurrencies and then the probability is greaterthat the cryptocurrency price is rising.

What investment amounts affect the dynamics of the coin exchange rate?Let's give an example.According to data Sosovalue came in the lastAugust week saw an outflow of $277 million from Bitcoin- ETF.But a week earlier, there was an inflow of money into the BTC ETF: institutions then invested around $506.7 million in this instrument.That is, in the last two weeks there has been a positive trend in investments in bitcoin-ETF.

In general, financial analyst Andrey Shevchishin is confident that the positive sentiment of the Bitcoin exchange rate this year will be most influenced not by the halving, but by the inflow of money from large investors in cryptocurrencies through ETF funds.

"Halving traditionally has an impact on the price of digital gold. However, the main factors influencing the crypto market were ETFs, stock market regulation and the sale of confiscated or frozen assets," notes the expert.

How crypto ETFs are changing the cryptocurrency market

The emergence of crypto ETFs allows us to move digital coins from the gray area into the legal realm, as the instrument has become a simple and familiar investment method for most, notes financial analyst Andrey Shevchishin.

Financial advisor Mikhail Patsan agrees that crypto ETFs have become very popular.For understanding, it provides the investment statistics for the second quarter of 2024.

"Institutional investors have significantly increased their investments in crypto ETFs, especially Bitcoin ETFs, as seen in the second quarter of 2024. Growth in institutional investments reached 27% during this period, a sign of investor confidence in the long-term potential of cryptocurrenciesis.The share of institutional investors in the total assets under management (AUM) for crypto ETFs rose from 21.4% to 24% in the second quarter alone, reflecting a significant increase in interest from major players.– explains the boy in a comment to Delo.ua.

What are the prospects for crypto ETFs in the cryptocurrency market

Andrey Shevchishin notes that the crypto ETF has not yet shown the full potential of the cryptocurrency market in the legal field. The fact is that when comparing the capitalization of crypto funds and traditional stock or bond funds, it becomes obvious that crypto is still an underdog. However, the crypto market is still at the beginning of its legalization. Investors' interest in digital coinsgrows.

As the XAU/USD chart shows, gold prices rose above $2,460 for the first time in history yesterday, July 16.

The bullish sentiment is due to:

→ Waiting for the Fed to cut interest rates. Ultimately, the attractiveness of non-interest-bearing precious metals tends to increase in low interest rate environments.→ Geopolitical tensions. The assassination attempt on Trump could increase demand for a “safe haven”.→ Demand from central banks.

Reuters writes that analysts at the Commonwealth Bank of Australia believe gold prices could exceed their forecast of $2,500 an ounce by the end of 2024. “Gold’s ability to find support in any environment this year is worth highlighting,” they say.

Can the price of gold continue to rise?

Technical analysis of the XAU/USD chart provides some valuable observations:

→ Gold prices are in an uptrend (shown in blue);

→ the support level of $2290, “strengthened” by the middle line of the blue channel, pushed the price higher (represented by the arrow);→ and the bulls managed to break the level of $2385, which had acted as resistance since June 7 (represented by the arrows);→ while the bearish head and shoulders pattern (SHS)failed.

The contours of the ascending channel with this construction raise the prospect of an increase in the price of gold to its upper limit, where the psychological level of $ 2500 per ounce is also located. Therefore, the forecasts of analysts at the Commonwealth Bank of Australia could come true much earlier than the end of the year.

WhiteBIT Nova Visa Debit Card allows you to use digital assets for everyday spending and earn rewards. It is designed for convenient use of cryptocurrencies in everyday life.

"The WhiteBIT Nova Card is an important step in making cryptocurrencies a practical choice for everyday transactions, especially in Europe, a key market for our growth. Our goal is to drive mass adoption of blockchain technology by bridging the gap between digital assets and traditional spending. This card not only improves accessibility, but also offers a more inclusive and rewarding financial future for all users,” said Vladimir Nosov, CEO of WhiteBIT.

Wallester AS, the leading card issuing platform in Europe, issues and offers the card as a payment institution authorized by Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) and an official main member of Visa.

Key Features of WhiteBIT Nova Card:

• 0% service fee: There are no opening, closing or storage fees for the Visa card. No initial deposit is required for activation, so you can use the card immediately;
• physical and digital cards: Users can choose between a digital version or a plastic card. A physical card allows you to increase spending limits and withdraw money from ATMs. It can be ordered with a delivery time of up to 10 working days (costs up to 10 euros);
• Support for various cryptocurrencies: WhiteBIT Nova supports popular digital assets including USDC, BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT and DOGE;
• Cashback up to 10%: Cardholders receive cashback in BTC or WBT for purchases in specific categories: Groceries (1%), Grocery/Restaurants (3%), Medicines (3%), Taxis (3%), Pet Products (5%), Subscriptions (10%). You can select up to three categories and do them dailychange;
• Referral bonuses: For each invited friend who activates the card, you can receive 1 USDC (maximum 50 USDC).

The WhiteBIT Nova card supports integration with Apple Pay, which enables convenient and secure contactless payments using cryptocurrency. It is available to EU citizens and is configured through the WhiteBIT platform. After verification, users can immediately start using the virtual card. The spending limits are up to 10,000 euros per day and up to 25,000 euros per month.

• Ales Michl published his opinion on Bitcoin amid the LIBRA scandal.
• The head of the CNB believes that central banks should study the technology on which it is based.
• He distinguished Bitcoin from other crypto assets and advised them to carefully weigh all risks when investing.

The head of the Czech National Bank (CNB), Ales Michl, urged not to equate Bitcoin with other crypto assets. His comment came against the backdrop of the scandal surrounding the LIBRA token and the involvement of Argentine President Javier Miley in its promotion.

Recall that Michl made a proposal to invest part of the CNB reserves in the first cryptocurrency. In his opinion, counterparties in the banking sector need to study the technology on which it was created and adapt to new market conditions.

The Board has accepted this proposal. The regulator will analyze the potential benefits of investing part of the central bank's reserves in Bitcoin and then make a final decision.

Michl's initiative, however, was met with criticism, even though he admitted that Bitcoin remains an extremely volatile and risky asset. In particular, European Central Bank Chairwoman Christine Lagarde said that none of the Eurozone banks would invest in the first cryptocurrency.

In his note, Michl emphasized that the crypto asset market is still in its infancy and will experience ups and downs. However, this does not apply to the first cryptocurrency:

"Bitcoin is a completely different story. It should not be equated with other crypto assets. We as central bankers must study it and research the technology on which it is based. Learning Bitcoin will not harm us – on the contrary, it will strengthen us.”

In the publication, Michl did not specify what ups and downs he was talking about. However, his comment came against the backdrop of a scandal surrounding the memcoin LIBRA, which was launched with the support of Argentine President Javier Miley.

Miley is threatened with impeachment. In addition, information appeared in the press that the creators of the project paid his sister to promote Memcoin. According to media reports, the latter wants to resign.

The cryptocurrency market is showing amazing momentum at the end of the year. Some little-known coins are poised for explosive growth. Investors are watching the potential of these assets with interest and expecting significant returns. The holidays can be the starting point for a sudden rise in prices. Which crypto assets can surprise the market?

XYZ: The first cryptocurrency to combine meme culture and sports

Profitability and Prospects

Project offers:

• A unique XYZVerse ecosystem, integrating memes and sports events.

• Planned listings on leading centralized and decentralized exchanges (CEX and DEX).

• Smart contract security and transparency.

Growing interest in meme tokens

Meme cryptocurrencies continue to show record results: in 2024 they occupied one of the key positions in the crypto industry.XYZ focuses on the sports audience, which makes the project stand out from its competitors.

Why do sports fans choose XYZ?

The project focuses on engaging the sports community through meme culture, which contributes to the organic growth of the audience. Ecosystem participants get the opportunity not only to invest, but also to participate in sports events, thereby making money from trends.

Advance sales open up opportunities for early entry

Current pre-sale phases offer favorable conditions for purchasing tokens. For investors, this is an opportunity to enter the market with minimal investment and high growth prospects.

Join the XYZ Project and be part of the new era of cryptocurrency for sports fans.

Golden Tiger Ava and AVA token (AVA)

Awa is a rare golden tiger from Thailand that is attracting global attention. Its unique golden fur is the result of recessive genes, and there are fewer than 100 such tigers in the world. Photos and videos of Ava are spreading quickly on the Internet, making her a new Internet phenomenon like Mudeng.

Simultaneously with Ava's rising popularity, AVA Token, a community-based cryptocurrency project inspired by the fame of Tigress, appeared. After the success of the MOODENG token, which has grown 1643% in the last three months, the AVA token is gaining attention in the crypto community. AVA Token is traded only on decentralized exchanges and offers interesting opportunities for those who follow technological developments and trends in the world of cryptocurrencies.

Starknet (STRK)

Starknet is a Layer 2 solution for Ethereum that uses the zk-STARK zero-knowledge protocol to enable fast and low-cost transactions. It allows you to process transactions outside of the main blockchain while maintaining the security and decentralization of the network. Starknet uses the unique Cairo programming language, which simplifies the development of decentralized applications. In February 2024, the native STRK token was launched, which is used to pay forfees, used to deploy and participate in network governance.

Starknet technology significantly improves the efficiency of Ethereum by merging transactions before they are recorded on the main blockchain. The STRK token not only facilitates transactions, but also plays an important role in community governance and plans to transition to Proof of Stake. With StarkWare Industries' experienced team and significant financial support, Starknet offers a promising solution for blockchain scaling. The STRK technology and token havethe potential to improve the Ethereum ecosystem by making transactions more accessible and efficient.

Popcat (POPCAT)

POPCAT is a meme coin based on a 2020 internet meme about a cat named Oatmeal. The meme features two images of a cat: one with its mouth closed and the other with its mouth machined into an "O" shape. The coin has no intrinsic value or financial expectations and is intended for entertainment purposes only.

The technology of meme coins like POPCAT is based on community and popularity on the Internet. Thanks to viral memes and active user support, they can quickly become famous. However, the lack of real utility and value makes them unpredictable. In the current market cycle, the attractiveness of POPCAT depends on user interest in the meme and the general trend of meme coins.

Quant (QNT)

Quant is one of the leading projects in the field of blockchain interoperability, offering a unique Overledger Network operating system. This technology makes it possible to connect blockchain networks and create multi-chain applications (MApps).

The QNT token will be used to work in the ecosystem and develop applications. Given the growing need for blockchain integration, the project has a high chance of success in the digital economy.

Output

Against the backdrop of growing interest in cryptocurrencies, investors are paying attention to projects with high returns. Notable among them is XYZVerse (XYZ), the first meme coin that combines sports and internet culture. A unique ecosystem, a target audience of football, basketball and e-sports fans, as well as a growth potential of 9900% make it one of the most promising assets of the season.

Australia's Federal Court has ordered local cryptocurrency exchange operator Kraken to pay a fine of A$8 million (US$5.1 million), according to Australia's corporate watchdog Reuters.

The Australian Securities and Investments Commission (ASIC) last year brought civil proceedings against Bit Trade, which operates the Kraken exchange in Australia, for failing to comply with the rules for yourMargin Trading Product.

ASIC stated that Bit Trade failed to identify the right customers for a new margin trading product, resulting in losses of more than $5 million.

"Bit Trade released its product and made it available to over 1,100 Australians who were charged over $7 million in fees and interest without first checking whether the product was suitable for them," the statement said.ASIC.

Product Bit Trade enables enhanced margin, a form of credit or loan that can be issued and repaid in either digital assets such as Bitcoin or national currencies such as US dollars.

The regulator, however, said the fine was the first of its kind against an organization that had not defined its target market.

Remember the recent market correction?We analyzed the reasons and forecasts of analysts.So one of the triggers for the crypt collapse was the growing tension around the capabilities of Google's new Willow chip.How does this relate to cryptocurrency?Direct.A modern quantum processor can perform calculations in 5 minutes that would take the most powerful supercomputers 10 septillion years (that's a 1 followed by49 zeros).

This breakthrough raises an important question: Could quantum computing threaten Bitcoin and other cryptocurrencies? Willow has shown a reduction in errors when qubits are added to the 7x7 array and is capable of performing tasks that classical supercomputers could not accomplish even for the entire existence of the universe. The danger is that all cryptocurrencies are based on elliptic cryptography (ECC), which converts data at the expense of the computational complexity of solving certain onesmathematical problems.

In theory, with the help of quantum computers, it is theoretically possible to use Shor's algorithm to solve these problems much faster.However, to crack ECC you need a quantum computer with at least 1.5 million logical qubits.The Willow chip only has 105 qubits, which is far fromis away from the required amount.It will take decades to create a truly dangerous cryptographic encryption chip.

Although the quantum threat to Bitcoin is far away, the crypto community is already developing protection strategies. The US National Institute of Standards and Technology (NIST) is developing standards to protect digital assets from quantum attacks. Bitcoin developers are exploring the possibility of switching to quantum-resistant algorithms. Ethereum co-founder Vitalik Buterin also spoke about studying protection against quantum attacks by studying quantum-resistant cryptographic onesAlgorithms.

Some coins, including the 1 million BTC said to belong to Satoshi Nakamoto, are stored in a form that exposes public keys. This earlier version of storage is more vulnerable to quantum attacks. Researchers suggest freezing coins or stopping the use of such transactions altogether.

In 2024, crypto scammers received at least $9.9 billion.The most common schemes remain Financial pyramid and romance scams, which continue to bring billions of dollars in revenue to fraudsters.

This was reported by analytics firm Chainalysis. Experts note that this amount may increase as new illegal addresses linked to financial fraud are identified throughout the year.

One of the most popular schemes remains high-yield investment fraud (HYIS), based on the principles of the financial pyramid. In 2024, this scheme is responsible for 50.2% of all funds received by fraudsters, although its share in the total fraud volume decreased by 36.6% compared to 2023.

At the same time, the so-called pig slaughter, also known as romance fraud, is becoming increasingly popular. Its share of the total fraud volume increased by 40% and reached 33.2%. In this scheme, attackers build trusting, often romantic relationships with victims and then convince them to invest in fictitious cryptocurrency platforms or fundsinvest.

Analysts note that fraudsters are actively using artificial intelligence to enhance their schemes. Generative neural networks help them create fake documents for verification on exchanges and financial services. According to Alterya, 85% of fraud cases involve accounts that traditional identity verification systems successfullybypass.

Most illegally obtained funds are transferred to centralized exchanges (CEX). However, decentralized finance (DeFi) protocols are also actively used, including on the Ethereum, Tron and Solana blockchains. In addition, since mid-2023, the role of the Huione Guarantee platform has increased, facilitating not only money laundering, but also a wide range of illegal services forprovides crypto criminals.

Given the scale of fraud, financial regulators and analytics firms are stepping up their efforts to combat cryptocrime. They are using artificial intelligence and new methods to identify suspicious transactions and thus track illicit cash flows more effectively.

Although preliminary estimates indicate some decline in fraudsters' income in 2024, the actual numbers could be record-breaking. Analysts note an average growth of 24% in fraudulent revenue in the annual reporting period. Thus, losses to victims of crypto fraudsters could exceed $12 billion by the end of the year.