BNB Chain Burns 1.6 Million BNB Tokens in its 28th Quarterly Token Burn

In a Monday blog post, BNB Chain announced the removal of 1,643,698.8 BNB tokens from circulation, valued at approximately $971 million at the time of the burn.

BNB Serves as the Native Coin of the BNB Chain
BNB plays a crucial role as the native coin of the BNB Chain ecosystem, powering its diverse Web3 environment.

It facilitates transactions across the BNB Smart Chain (BSC), opBNB L2s, and BNB Greenfield blockchain.

Moreover, BNB has governance utility, allowing holders to participate in the decentralized on-chain governance of the BNB Chain.

According to a report by asset manager ARK Invest released on July 18, Bitcoin became oversold in June after the German government initiated a multibillion-dollar sell-off of 50,000 BTC. These bitcoins were seized in a 2020 police sting against Movie2k, a streaming platform for pirated content.

The sell-off caused Bitcoin prices to drop from highs above $70,000 in early June to below $55,000 during a brief dip in July.

"Based on short-term holder realized profits/losses and miner outflows, Bitcoin appears oversold," the report states, which covers data through June 30 and includes more recent figures. "Current levels of miner outflows suggest that miners are capitulating, which could signal a bullish reversal."

### Bitcoin and Cryptocurrencies:
- **The Ethereum restaking protocol EigenLayer** has lost $5 billion in total value locked (TVL) within a few weeks (Journal du Coin).
- **Bitcoin exchanges** have seen significant inflows into ETFs, totaling $2 billion over nine consecutive days (Journal du Coin).

### Regulation and Security:
- The **European Securities and Markets Authority (ESMA)** has made progress in developing the digital euro, an initiative that could transform financial transactions in Europe (Une-Blockchain).
- **Hong Kong** plans to implement a licensing system for stablecoin issuers, thereby strengthening regulation in this sector (Journal du Coin).

### Technological Developments:
- **Ubisoft** has chosen Aleph.im to manage the dynamic NFTs for its new Web 3 game, further integrating blockchain into the gaming industry (Journal du Coin).

### Adoption and Usage:
- Various **blockchain adoption initiatives** continue to emerge, such as the acceptance of cryptocurrencies for purchasing real estate and luxury services in Dubai (Krypto Channel).

These developments indicate a growing adoption and significant movements in the blockchain and cryptocurrency space, affecting both asset prices and regulatory and technological infrastructure.

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### Spot Bitcoin ETFs Experience Highest Inflow Day in Over Five Weeks

On July 12, spot Bitcoin exchange-traded funds (ETFs) based in the United States saw over $310 million in inflows, making it their best-performing day since June 5.

Leading the inflows were BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC), which recorded $120 million and $115.1 million respectively, according to Farside Investors data.

The Bitwise Bitcoin ETF ranked third with $28.4 million in inflows, while the Grayscale Bitcoin Trust (GBTC) experienced a rare inflow day at $23 million.

Additionally, the VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF reported inflows of $6 million and $4 million, respectively

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