As a crypto enthusiast or investor, it's important to stay up-to-date with the latest happenings in the industry. While there's been a lot of activity recently, certain developments are particularly noteworthy. You can gain valuable insights into market sentiment by keeping a pulse on the market.
So we have created a summary of the latest happening in the crypto industry. Some are about Bitcoin movements in the market, and others are about new coin launches.
1. Worldcoin Goes Live
A significant development in the world of cryptocurrency is the release of an AI-based initiative that has caused a stir among industry players. Worldcoin, a crypto venture established by Sam Altman, has revealed the launch of their long-planned project. The WLD token and Mainnet will be available today, with several crypto exchanges already featuring the token.
In their latest announcement post, Binance said:
"Binance will list Worldcoin (WLD) and tentatively set to open trading for these spot trading pairs at 2023-07-24 09:00 (UTC)."
Sam Altman, the founder of this new token, has been working on this project for quite a long time. The crypto industry has new expectations for their launch, judging from the announcements they made on their social media platforms.
The project's development team goes by the name of Tools for Humanity. They have undergone several funding rounds, with the latest one occurring in May, where they raised a staggering $115 million in a Series C funding round.
This project has garnered support from various crypto firms, such as Blockchain Capital, a16z, Distributed Global, and Bain Capital Crypto. The project's primary focus is proof-of-personality, and they have already developed a wallet called World App.
2. Bitcoin Achieves Huge Milestone Despite Bear Market
Bitcoin has been doing quite well even though the price has been plummeting to levels. Recently, it went down the $30k range, and it hasn't even recovered at the time of writing. But apart from its price, the cryptocurrency has reached new milestones in other areas.
The most recent was in the mining sector, where the Bitcoin network has mined block 800,000. The milestone means that only about 40,000 Bitcoins are left to be mined before the next halving, which will happen in 2024. To achieve this milestone, the 800,000th block contained 3721 transactions at about 1.64 megabytes of data.
This new milestone has led to many celebrations on social media platforms. The major theme here was how Bitcoin achieved such a massive milestone without needing the government's help, unlike traditional financial institutions.
A prominent Bitcoin enthusiast on Twitter celebrated the news, saying:
"The #Bitcoin network just produced block number 800,000.
800,000 blocks without a central bank.
800,000 blocks without a government.
800,000 blocks without a CEO.
800,000 blocks without asking for permission."
While enthusiasts celebrate this top crypto news, many speculate it should help Bitcoin price. Bitcoin's price is fluctuating dangerously at the $29k range. And things could worsen in the market if it goes down the $29k level.
3. More Bitcoin Spot ETFs Under Review
One of the biggest news the crypto industry heard this year was that the largest asset management company, Blackrock, submitted a Bitcoin ETF application. This application was submitted to the Securities and Exchange Commission. The Blackrock application heavily impacted the crypto market, as the price of many cryptocurrencies went up.
Still on their spot Bitcoin ETF application, it is reported that the Securities and Exchange Commission has other spot Bitcoin ETF applications under review. Previously, the SEC admitted that they had officially received the application from Blackrock. Now, it seems they have about 6 Bitcoin spot ETF applications under their review.
Reuters reported BlackRock, VanEck, WisdomTree, Fidelity Digital Assets, Bitwise, and Invesco as part of the companies that have their spot Bitcoin ETF application under the SEC review. Particularly for the one submitted by Blackrock, it is expected that SEC will finish the review after 21 days.
If any of the company's Bitcoin ETFs are approved, it would mark the first Bitcoin spot ETF in the US. Jay Clayton, former Chairman of the US SEC, has stated that the applications will likely be approved if the owners can ensure investor security.
"If you can demonstrate that the spot market has similar efficacy to the futures market, it would be hard to resist approving a Bitcoin ETF," Jay Clayton said.