The Fear & Greed Index has decreased to 25. Web3 will become available to everyone on Telegram. Subcutaneous cryptocurrency wallets are being sold in the U.S. Germany has taken a step towards a digital euro
There is extreme fear in the crypto market: the index dropped to 25
For the first time since January 2023, the cryptocurrency Fear & Greed index dropped to a minimum of 25 points. This was reported by representatives of the analytical platform CryptoQuant on X on Friday, July 12.
When the market is liquidating short-term holders of BTC and the level of fear is high, the probability of growth of the first cryptocurrency increases. According to analysts, now is exactly such a moment.
Let’s recall that in early 2023, the Fear & Greed index of cryptocurrencies was 26 points, and Bitcoin was trading at $16.5 thousand. By the end of January, the price of the coin rose, fixing at $22.3 thousand. Then the reason was the collapse of the crypto exchange FTX, and now — the active sale of Bitcoin by the German government and the payment of compensation to creditors of the bankrupt exchange Mt.Gox.
The index can have a value between 0 and 100 and reflect the mood of crypto investors. A low value signals maximum fear, while a high value signals maximum greed.
On Thursday, July 11, Bitcoin reacted to the news of the U.S. inflation rate dropping to a record low 3% with a rise. The rate of the first cryptocurrency rose to $59.2 thousand in the moment but then fell again. As of Saturday, July 13, Bitcoin’s price is at $58.2k.
Notcoin, 1inch, and Sign want to open up Web3 to everyone via Telegram
The creators of the Notcoin game, the Sign crypto protocol, and the 1inch DeFi platform have teamed up to create Triangle, a startup accelerator for the Telegram messenger and TON network.
The new project is expected to help connect the familiar Web2 Internet with the new Web3 blockchain technologies. The key idea of Triangle is to make the transition to the world of decentralization simple and comfortable for millions of Telegram users. In it, ordinary people will be able to create mini-apps and promote and improve them.
The TON network is already extremely popular, in particular, because of the growing interest in tap games on Telegram. The Toncoin cryptocurrency, as of Saturday, July 13, is trading at $7.17 and has a market capitalization of approximately $18 billion. The coin has seen an impressive 403.1% growth, ranking as the second-highest annualized return among digital assets. TON was second only to Solana, which rose 584.8%.
The US has launched subcutaneous cryptocurrency wallets for those losing their regular ones
Dangerous Things and VivoKey Technologies (USA) have proposed a new way of storing cryptocurrency: implanting a physical wallet under the skin using a smartphone as a management interface.
The innovation solves the problem of lost or stolen devices, which often happens due to inattentive owners or hacker attacks. In early July, a crypto owner from New York posted ads all over the city in an attempt to find a Ledger crypto wallet keychain. According to US media, he was asking for the missing item to be returned for a $10,000 reward.
The subcutaneous wallet is called Apex Flex. It uses NFC and RFID technology, allowing you to store cryptocurrency and perform transactions. It can also be used to open electronic locks on doors or pay for purchases at a store. The private keys are stored in the chip where the transactions are signed. The Apex Flex device is currently on sale and costs $349.
Externally, the wallet is thin. To implant it in the body, you need to insert a needle under the skin, then take it out, and insert the Apex into the resulting hole. The procedure takes a few seconds. It is more time-consuming to stop bleeding and apply a bandage.
Germany has announced a regulated stablecoin
Deutsche Bank plans to issue its stablecoin by June 2025. Stefan Hoops, CEO of the financial institution, said that DWS, a fund company that is part of the banking conglomerate, will introduce a euro-denominated “stablecoin” that will be supervised by the German Federal Financial Supervisory Authority (BaFin). Investors and industrial companies are expected to show high interest in the new asset.
It is known that BaFin has always been critical of crypto and insisted on global regulation of this industry. At the same time, the agency is more loyal to stablecoins because of their stability.
German citizens, according to a study by the local central bank, have long been ready for the idea of the digital euro. The only thing that scares them is the possible invasion of privacy when using it.
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