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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-nears-breakthrough-as-interest-peaks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Nears Breakthrough as Interest Peaks</a> 
Comments suggesting that Bitcoin’s price might be on the verge of a breakthrough have influenced the <a href="https://en.coin-turk.com/analyst-bluntz-shares-predictions-for-four-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a> today. The open interest in BTC reaching an all-time high supports this notion. Additionally, over $1.5 billion in cryptocurrency will be unlocked in August, with a significant portion involving XRP. Meanwhile, the bank Silvergate, which faced a major crisis in the past, appears to have emerged from the Federal Reserve Board’s review.
<h2 style="text-align: justify" id="bitcoin-sets-record">Bitcoin Sets Record</h2>
Bitcoin open interest in futures has surpassed historical levels, setting a new record. This indicates an increase in demand from <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a>. Can Bitcoin’s price reach a historic peak? The Bitcoin open interest, which measures the total number of open positions, has risen to $39.46 billion, the highest level across all exchanges.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374889" src="https://coin-turk.com/wp-content/uploads/2024/07/kripto-btc-coin-turk-com.png" alt="" width="502" height="151">
CoinGlass <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shows</a> that the current level has surpassed the previous all-time high of $39.03 billion recorded on March 29, 2024.
Open interest in Bitcoin is used by traders to measure interest and liquidity in the asset. The current peak of $39.46 billion indicates increased investor interest in Bitcoin, potentially signaling a breakthrough towards a new ATH.
<h2 style="text-align: justify" id="xrp-comments-and-unlocks">XRP Comments and Unlocks</h2>
Next month, in August, $1.5 billion worth of tokens will be unlocked. The largest portion of this process involves 1 billion XRP tokens—worth $609 million at current prices—set to be unlocked on August 1. Since 2017, Ripple, the company behind XRP Ledger and its native token XRP, has been unlocking 1 billion tokens on the first day of each month.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374890" src="https://coin-turk.com/wp-content/uploads/2024/07/token-unlock-kripto-coin-turk-com.png" alt="" width="494" height="614">
Ripple is known to re-lock a large portion of these tokens after the unlock. Looking back at June, although 800 million XRP were re-locked after the unlock, the company sold approximately 300 million XRP, valued at $182 million, during the same period.
In addition to XRP, significant unlocks are expected in August for Sui, dYdX, ZetaChain, WLD, MAV, and ETHDYDX.
Another significant development involves the bankrupt bank Silvergate, known for its relationship with cryptocurrencies. According to the Federal Reserve Board, Silvergate has completed the process of repaying customers and halting all banking operations, indicating that the liquidation process is complete. Consequently, the company is no longer under regulatory control.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-nears-breakthrough-as-interest-peaks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Nears Breakthrough as Interest Peaks</a></h5>
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Bitcoin Price Nears Breakthrough as Interest Peaks

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