Arthur Hayes, co-founder of BitMEX, believes that Ethereum will benefit greatly from AI technology, as it is the most widely used decentralized virtual machine and is the logical base for AI applications to create decentralized autonomous organizations (DAOs) to execute smart contracts. He predicts that tokens issued by AI DAOs will trade on decentralized exchanges (DEXs), mostly those built on top of Ethereum, and that DEXs will trade more than traditional exchanges as DAOs capture more economic value than companies. Hayes estimates that if DEX trading volumes were to reach 20% of traditional stock exchange volumes recorded in 2022, Ethereum could run up to 1,556% from its current price of $1,875 to hit $31,063, and could reach a five-figure price in about half a decade from now.

Bitcoin and Ethereum have increased their shares to over 70% of the total cryptocurrency market capitalization for the first time since April 2021, while stablecoins have seen a decline in market capitalization. The recently released Crypto Market Insights Report 2023Q2 by TokenInsight shows that the stablecoin market cap decreased by 7% in the first half of 2023 to $128 billion as of the end of June. The report suggests that regulatory actions against major stablecoins, USD Coin (USDC) and Binance USD (BUSD), have contributed to the downward trend. Additionally, Ethereum staking has surged post-Shapella upgrade, and LSDFi market and Layer-2 networks have exhibited impressive growth.

A recent report by CME Group highlights the impact of tech stocks, the US dollar, and Bitcoin supply on the movement of Ethereum. The report suggests that Ethereum benefits more than Bitcoin when technology stock prices increase, resulting in a rise in the ETH/BTC exchange rate. However, a stronger US dollar has a negative impact on Ethereum compared to Bitcoin. The report attributes these differences in response to macroeconomic factors to the economics of Ethereum's unlimited supply and Bitcoin's capped supply.

Buyers are still in control, leading to little change in the situation from yesterday. Ethereum has seen a slight increase of 0.37% in the last 24 hours and is looking bullish on the local chart with a break in resistance at $1,864. However, there is not expected to be any significant movement until the end of the day due to most of the ATR already being passed. Ethereum is currently consolidating around $1,870, with the possibility of further growth towards $1,940 if it fixes above $1,900. The weekly chart shows a lack of initiative from both bulls and bears, leading to sideways trading between $1,850 and $1,950 until mid-August. Ethereum is currently trading at $1,877.

According to the official announcement, the South Korean encryption exchange Upbit will launch IMX today, support the KRW market trading pair, and only support the Ethereum network recharge. Deposits and withdrawals can only be made from personal wallet addresses that have completed ownership verification. The expected trading start time is 04:00 on July 28 (UTC)

The British Museum has partnered with Ethereum-based metaverse game, The Sandbox, and French startup LaCollection to create a range of NFT digital collectibles that reflect the museum's collections. The partnership will also see The British Museum create its own immersive space within the online game world.

Next-gen social entertainment platform, BYTE CITY, has partnered with the Bruce Lee Foundation to create a digital tribute to the legendary martial artist and actor in the form of a mobile metaverse experience. The immersive platform will allow fans to engage with Bruce Lee's avatar in a party gaming environment and celebrate his life and philosophy.

Digital fashion brand MNTGE has released a limited edition collection of 7,500 Ethereum NFT patches named Patchwork, each custom-designed by one of 11 contemporary artists. These patches can be redeemed for physical versions with NFC chips and will be sold on the OpenSea marketplace for 0.07 ETH each. MNTGE is also using Ethereum's ERC-6551 technology to enable NFTs to "hold" other NFTs, unlocking new features and use cases.

PEPE whales have been buying the meme coin, leading to a 13% rally in the past 24 hours. After a month of consolidation, the meme coin experienced a sharp decline, along with Bitcoin and Ethereum. However, the asset has since observed a sharp surge, potentially finding its bottom. Two whales have made sizeable purchases of PEPE using Ethereum, with one investor making a profit of over 9%.

Ethereum scaling project AltLayer has announced that more than 100,000 Flash Layers have been deployed as part of Altitude Phase 3. Previously, AltLayer partnered with EigenLayer to enable restaking users to launch Flash Layers in minutes.

Fabian Vogelsteller, the co-founder of Ethereum and creator of the ERC-20 standard for smart contracts, left the company in 2018 to focus on developing Lukso, a new blockchain for fashion and lifestyle. In a recent interview, he discussed the success of Lukso's reversible ICO, which allowed investors to receive refunds if they changed their minds about the project.

Following the United States Federal Reserve's decision to raise interest rates to a 22-year high, Bitcoin experienced a minimal 0.1% 24-hour increase and was trading at $29,304. Ethereum, the second largest cryptocurrency, remained stable and was priced at $1,859. The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point and emphasized the importance of continuing the fight against inflation until it drops to 2%.

Web3 application development platform Mirror announces support for Ethereum Layer 2 protocol zkSync

The number of layer-2 (L2) networks on Ethereum is increasing, with almost 30 different networks deployed to date. These second-layer protocols aim to scale the network by moving some computational processes off Ethereum, resulting in cheaper and faster transactions for users. L2 networks have become economies of their own, collecting billions of dollars worth of digital assets in locked-up deposits.

Last week saw a total outflow of $6.5 million from crypto funds, marking a reversal in trend after four weeks of heavy inflows. However, this is still minor compared to the $742 million of inflows from the previous four weeks, indicating continued interest in the space. Bitcoin remains the primary focus for institutional investors, but a recent report suggests that they may be cooling off their interest in the cryptocurrency.

XRP's post-SEC lawsuit gains have been halved and its momentum is slowing down due to the lack of institutional-grade inflows into the cryptocurrency market. Retail investors were the driving force behind XRP's surge in price after the legal victory, but their involvement may not be enough to sustain a long-term uptrend. Institutional investors are needed to bring substantial funds and credibility to the cryptocurrency market.

DeFiLlama data shows that the total value locked (TVL) of EraLend, a lending protocol in the zkSync ecosystem, dropped from $18.51 million to $10.75 million after being attacked today, with a one-day plummet of $7.76 million.

Exchange.art, a digital art marketplace on Solana, will soon integrate support for Ethereum, allowing over 80 Ethereum-based artists to sell their work on the platform. The integration will go live on August 1st. Exchange.art aims to be a hub for digital art and expand beyond Solana, with plans to onboard new creators and collectors. The platform has already onboarded 16,000 Solana-based artists and introduced a royalties protection standard to help creators earn a consistent percentage across marketplaces.

According to Celo, This governance proposal is a vote for the community in support of Celo returning home to Ethereum by transitioning from being an independent EVM-compatible Layer 1 blockchain to an Ethereum Layer 2. Specifically, it is not a vote on the architecture or design choices of how to achieve that goal of becoming a Layer 2.<br>

A&amp;G, the leading private bank in Spain, has launched a crypto investment fund, becoming the first of its kind in the country. The fund will have exposure to Bitcoin and Ethereum, as well as a minority exposure to other cryptocurrencies with satisfactory levels of volume and liquidity. A&amp;G stated that investors had expressed great interest in crypto investment and that the fund will be regulated and involve professionals subject to supervision, making it a safer choice for crypto-keen investors. However, the fund involves high levels of risk due to the extreme volatility, complexity, lack of transparency, custody, and concentration risk of cryptocurrencies, which may lead to the total loss of investment.