Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Bitcoin Nears Pre-Halving "Danger Zone": Bitcoin is approaching a phase historically marked by price retracements before halving events, known as the "Danger Zone." Analysts warn of potential downturns in the next few days, citing past trends. Despite recent peaks, Bitcoin has retreated 8.5% from its high. Binance CEO remains optimistic, predicting Bitcoin's price could exceed $80,000 by year-end.

2. Pro-XRP Lawyer Eyes Senate Seat: John Deaton, a proponent for XRP, plans to challenge Senator Elizabeth Warren in the Massachusetts Senate race. Deaton rallies support and funding from his crypto-friendly social media following, with the campaign scheduled for September 3.

3. Solana Surpasses Ethereum: Solana's network activity exceeds Ethereum's due to heightened interest in Solana-based memecoins. The surge leads to increased trading volume and Solana's price rally to $200, solidifying its position as the fourth-largest cryptocurrency by market cap.

4. Starbucks Ends NFT Rewards Program: Starbucks discontinues its Odyssey Beta program, which allowed customers to earn and trade NFT collectible stamps. The decision aligns with Starbucks' exploration of new initiatives and consumer preferences.

5. 💡Feature of the Day - Base Records 2M Daily Transactions: Coinbase's Ethereum layer-2 network, Base, experiences a surge in daily transactions following the Dencun upgrade. Transaction volumes reach a record 2 million, accompanied by a rise in new users.

6. 📜 Your Daily Thread - Do you know anything about $BOME? @PixSorcerer investigates everything you need to know about the $BOME presale so you don’t have to!

   
   All this and more in today’s headlines!

📰 News Highlights:

🚧 Bitcoin Nears Pre-Halving "Danger Zone" [Source][Source][Source]

Did you know anything about this? Bitcoin could be on the brink of entering a pre-halving "danger zone," historically marked by price drops in the weeks leading up to its halving.

Analysts warn of potential retracements in the days ahead, citing previous patterns where Bitcoin's price dipped 14 to 28 days before halving events. Despite recent all-time highs, Bitcoin's price has already retreated 8.5% from its peak of $73,835.

However, industry leaders like Binance CEO Richard Teng express confidence in Bitcoin's upward trajectory, foreseeing a climb past $80,000 fueled by institutional investments through newly approved U.S. exchange-traded funds (ETFs).

Crypto.com CEO Kris Marszalek echoes optimism, characterizing recent price dips as healthy corrections. He anticipates a gradual price increase, emphasizing Bitcoin's long-term value proposition amid reduced volatility.

💸 Pro-XRP Lawyer Eyes Senate Seat [Source][Source]

Meanwhile, Pro-XRP advocate John Deaton sets his sights on challenging Senator Elizabeth Warren in Massachusetts' Senate race, rallying his online following for financial support. With half of the campaign funds already self-financed, Deaton seeks to raise an additional $500,000 through cash or cryptocurrency donations.

Despite Warren's incumbency, Deaton remains undeterred, believing victory is achievable with grassroots support. Notable figures like Cardano founder Charles Hoskinson have endorsed Deaton's campaign, emphasizing the need for candidates willing to challenge the status quo.

Deaton's campaign, launched in February, aims to confront establishment politics, drawing attention to Warren's perceived inaction and skepticism toward cryptocurrencies.

🚀 Solana Activity Surpasses Ethereum [Source]

What a huge comeback! Solana witnesses a surge in network activity, outpacing Ethereum, fueled by a frenzy for Solana-based memecoins like "Book of Meme" and "$NAP." Despite the network's newfound popularity, users report challenges with transaction reliability as Solana struggles to manage increased demand.

The meteoric rise of Solana-based memecoins coincides with Solana's price rally, with SOL trading at $200 and becoming the fourth-largest cryptocurrency by market cap.

However, Solana's network congestion highlights scalability concerns amid unprecedented transaction volumes.

☕ Starbucks Ends NFT Rewards Program [Source][Source][Source]

Starbucks announces the conclusion of its Odyssey Beta program, ending a digital collectible stamps initiative allowing customers to earn and trade NFTs.

The decision reflects a broader trend among major companies, including GameStop and Meta, to reassess NFT initiatives amid evolving market dynamics.

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The coffee giant's move signals a shift in Web3 strategy, emphasizing the need to adapt to changing consumer preferences while exploring new opportunities. Read the whole article written by UseTheBitcoin here: Starbucks To End Its Odyssey Beta Program.

💡 Feature of the Day: 

📈 Base Records 2M Daily Transactions Post-Dencun Upgrade [Source][Source]

Coinbase's Ethereum layer-2 network, Base, experiences a surge in daily transactions following the Dencun upgrade, reaching a record 2 million transactions. The upgrade significantly reduces fees, driving user adoption and transaction volumes.

Base's remarkable growth underscores the importance of scalability solutions in addressing Ethereum's congestion issues.

With transaction fees plummeting by over 60%, Base emerges as a viable alternative for cost-effective and efficient transactions in the Ethereum ecosystem.

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📜 Your Daily Thread:

😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com