🔥 Market brief 7/11

+ Nasdaq increased for 7 consecutive sessions; Altcoin continues to benefit when BTC goes sideways and cedes the spotlight

+ It has been 6 consecutive weeks with more than $767M inflow into the crypto market, higher than all of 2022 combined [CT]

+ Blockchain Center: About 33% of Altcoins in the TOP 50 outperformed BTC in the past 90 days, still not reaching the 75% threshold of Alt Season [CT]

+ Kraken considers choosing Polygon, Matter Labs (zkSync) or Nil Foundation to build Layer 2 to compete with Base from Coinbase [CT]

+ SEC has difficulty recruiting because candidates do not want to sell crypto to join SEC [CT]

+ FTX wants to sell $744M of Grayscale & Bitwise treasury shares for cash, repay customer debt [CT]

+ Gemini CTO Pravjit Tiwana left the company after nearly 2 years of work [CT]

+ Ava Labs lays off 12% more staff to restructure the company [CT]

+ Arbitrum will allocate 100M ARB as staking rewards with APR from 7.84 -> 78.43% [CT]

+ Cardano uses Polkadot's Substrate technology instead of Cosmos's SDK [CT]

+ Llama Smart contract platform raises $6M seed round from Founders Fund & Electric Capital [CT]