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Bingbon Chart

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Bitcoin and Ethereum solidified their support bases in July. BTC fund flow ratio for all exchanges seems to be on a downwards trend. Recently, BTC transactions have been increasing. The Bitcoin fund flow ratio is an indicator that’s defined as the total amount of BTC going into or out of exchanges. At the time of writing, BTC’s price is around $43,000, up 10% in the last week. Over the past month, BTC has gained 23.5% in value. Bitcoin seems to have caught a sharp uptrend as it nears $43,000.  However, It’s unclear whether BTC can continue the rally and go beyond this mark, or if it will crash again like at the beginning of the month. If BTC is unable to stay above $45,000 next week, it means there is still a long way to go before the bull run gets ready.

Today’s Headline

Arbitrum, the Ethereum Layer 2 solution, announced plans to launch a Mainnet beta version access to users by the end of August. However, the specific date has not been set. Arbitrum’s development team Offchain Labs will retain the upgrade control of the mainnet beta version, to improve its performance, and quickly respond to possible security accidents. The Arbitrum One portal will be available prior to the release of the mainnet beta version. According to the Arbitrum team, “there are now more than 400 projects obtaining the access qualification of Arbitrum, and more than a dozen projects have been successfully deployed.”