• Crypto market hits $4T – U.S. just passed huge crypto legislation
• Bitcoin melts bears – $1B shorts liquidated as BTC crushes ATHs 🚀
• Ghana goes regulatory – first crypto bill coming in Sept
• Ethereum turns 10 – NFT torch + NFT volume spikes 🔥
• CoinDCX hacked – $11M bounty launched to recover $44M
• ETH gas at ATH – network more active than ever, but fees low 💨

The entire crypto market just ripped through the $4 trillion ceiling. Bitcoin’s at $120K, ETH flirting with $3,640, and the U.S. just passed not one, but three landmark crypto bills:

• GENIUS Act: Stablecoins officially get rules.

• CLARITY Act: Clears up the SEC vs CFTC beef.

• Anti-CBDC Act: Yep, they’re banning Central Bank Digital Currencies (at least for now).

This might be the U.S. saying, “We're ready to lead Web3.” Meanwhile, Trump’s personal wallet is up $58M, raising eyebrows about conflicts of interest 👀. Institutions DGAF though—they’re diving in headfirst.

BTC just nuked the bears—$1B in shorts liquidated in a single day. Bitcoin smashed through $118K, hitting fresh ATHs and dragging ETH up to $3K. Notable whales like James Wynn and @qwatio got wrecked betting against the rally.

Open interest is back to $38B, BTC dominance at 62.6%, and retail hasn’t even shown up yet. The market's officially in price discovery—so if you're overleveraging now… good luck.

Ghana’s going Web3 official. With over $3B in crypto usage and 3M citizens transacting on-chain, the Bank of Ghana is drafting its first crypto regulation bill, expected to hit Parliament by September.

The bill aims to:
• License platforms 🧾
• Improve financial oversight
• Stabilize the cedi

It’s a big Web3 moment for Africa, and Ghana’s staking its claim as a digital economy leader.

Happy 10th birthday, Ethereum! To celebrate, the Ethereum Foundation launched “The Ethereum Torch,” an NFT passed wallet to wallet daily until July 30—then it gets burned 🔥. After that? A new celebratory NFT drops for free minting.

And the NFT market? Back from the dead.

• +300% ETH NFT trading surge

• $75M in volume

• One baller spent $8.5M on 48 CryptoPunks

• ETH price rally + institutional interest = full-blown NFT revival

India’s largest exchange CoinDCX got hit for $44.2M via a hack involving Tornado Cash and bridges. In response, they’ve launched an $11M bounty program (up to 25% recovery reward).

Blockchain sleuths, including ZachXBT, traced 12,144 ETH to a suspicious wallet. The good news? User funds are safe. The bad? CoinDCX stayed silent for 17 hours, raising transparency red flags.

Security is now top priority, with support from Solana Foundation and others. Just another reminder—DeFi needs better armor.

as just hit its highest level ever on Ethereum—but don’t panic, fees are still vibing around $0.15 for standard txs and $2.48 for NFTs.

Why the spike?

• More ETH and stablecoin transfers

• $128B in stablecoins on-chain

• $20B in net ETH inflows in 3 months

• $82B TVL across the network

• Arbitrum, Base, and others sending liquidity back to Ethereum

Basically: DeFi is booming, stablecoins are moving, and ETH is once again the heart of Web3 finance.

Alright, that’s a wrap for this week's edition of The Web3 Watch! 🚀
See you all next week!