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Market Watch ⌚👀

Bitcoin at $55,241 is witnessing a tough battle between the bulls and the bears. The buyers are trying to keep the price inside the $53,835 to $73,777 range, eventually to solid support at $50,000.

Up to 99% of Mt. Gox’s $8.2B Bitcoin Could Be Sold — Analyst 😱

Nearly all former creditors of the defunct Mt. Gox exchange may sell their repaid Bitcoin, adding $8.2 billion in potential selling pressure. Mt. Gox, which collapsed in 2014, owed approximately 127,000 creditors. Analyst Jacob King noted on-chain movements indicating creditors have started selling, raising concerns about Bitcoin's price stability. Despite this, the repayments mark a positive development for the industry, offering long-awaited relief to creditors. Bitcoin's price recently dipped, adding to market uncertainty.

U.S. Government to Grant TDev Bail, Terms Not Yet Agreed Upon

William Lonergan Hill, also known as TDev and the co-founder of Samourai Wallet, has been granted bail by the U.S. government. However, the specific terms are still under negotiation. Hill's defense team prefers his release to Portugal, while prosecutors want him in Brooklyn. Hill, along with Keonne Rodriguez, faces charges for operating an unlicensed money transmitting business and laundering over $100 million in criminal proceeds. Hill's family has proposed a hefty bail package, potentially increasing to $4.4 million if he is allowed to return to Portugal.

Bitcoin Mining Difficulty Drops by 5% as Market Price Remains Below $58,000 ⛏

Bitcoin's mining difficulty has decreased by 5% in the past week, continuing a trend of reductions over the last 30 and 90 days. Experts attribute this drop to reduced interest following the Bitcoin halving and the decline in initial interest in Bitcoin Runes. The adjustment benefits large mining companies, while less efficient miners struggle. CleanSpark Inc. has surpassed its operational hashrate target, demonstrating resilience despite market challenges. Bitcoin miners remain hopeful, focusing on efficiency to stay profitable amid fluctuating prices.

Hamster Kombat Gains Another Important Milestone in 3 Months 🐹

Telegram's founder, Pavel Durov, announced that Hamster Kombat has reached over 200 million users in just three months. The Play-to-Earn game, integrated into the Telegram app, attracts more than four million new users daily. Durov emphasized the game's potential to revolutionize blockchain adoption in mass-market applications. Hamster Kombat recently introduced a final avatar level and is preparing for a token airdrop on the TON blockchain. This rapid growth showcases the viral potential of Telegram's mini-app platform.

Why Is India Working Against the BRICS?

India is hesitant about the recent expansion of BRICS, which saw the addition of six new countries. Russia and China support further enlargement to challenge Western dominance, but India prefers to maintain the group's original spirit of equal partnership. India is particularly uncomfortable with Pakistan's potential inclusion, given their historical conflicts. The economic impact of new members could be significant, with ASEAN nations expressing interest. However, India advocates for a five-year pause to adjust to recent changes.

PancakeSwap’s 2.4M ZK Token Airdrop

PancakeSwap announced a 2.4 million ZK token airdrop to reward its community for supporting the zkSync deployment. The initiative runs from July 5 to August 5 and targets veCAKE holders, liquidity providers, active traders, and other contributors. Eligible users can claim tokens by connecting their wallets to PancakeSwap's homepage. Unclaimed tokens will be reallocated for future developments.

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