Bitcoin and Ethereum showed little movement in European trading on Tuesday, with slight dips despite weekly gains. Bitcoin was trading at $59,398.28, up 2.5% over the past 24 hours and 8.4% for the week, while Ethereum traded at $2,650, gaining 2.4% for the day and 9.4% for the week. A highly anticipated interview between Donald Trump and Elon Musk on Twitter did not mention cryptocurrencies, which disappointed some in the crypto community. Despite this, institutional interest in Bitcoin remains strong, with significant inflows into Bitcoin ETFs, particularly Blackrock’s iShares Bitcoin Trust. Ethereum is showing a neutral to slightly bullish trend, bolstered by the recent Dencun upgrade, which has reduced transaction costs. Analysts are anticipating more market movement with upcoming U.S. Consumer Price Index data.

Bitcoin Enters DeFi Arena with Tap Protocol’s First Layer 1 Native Swap

Tap Protocol has achieved a significant milestone by executing the first Bitcoin-native swap directly on Bitcoin Layer 1, marking a crucial development in enabling DeFi operations on the Bitcoin blockchain without relying on Layer 2 solutions. This innovation, facilitated by ICP’s decentralized functionality, allows for seamless and secure token swaps natively on Bitcoin, bypassing the need for bridges and off-chain solutions. The Tap metaprotocol opens new use cases on the Bitcoin network, reinforcing Bitcoin’s evolution from a simple transactional currency to a platform capable of supporting diverse digital assets.

NFT Sales Grow 6.29% to $95.42 Million Despite Market Participation Drop

Between August 3 and 10, 2024, NFT sales reached $95.42 million, representing a 6.29% increase compared to the previous week. Despite the growth in sales, the number of buyers and sellers in the NFT market declined drastically. Ethereum led the sales with $32.46 million, followed by Solana and Bitcoin. The Dmarket collection from Mythos was the most notable, with a significant increase in sales. The most expensive sales of the week included NFTs from Autoglyphs, BNB, and Arbitrum.

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