Highlights Preview:
- Xai (XAI) will unlock approximately 198.4 million tokens at 5:30 PM on July 9th, Beijing time, accounting for 71.59% of the current circulation, worth about $55 million;
- Galxe's GAL token will migrate to G token, and the migration portal will open on July 9th;
- Hunan Hanshou Public Security reminds STFIL Protocol's staking and lending users to cooperate in reporting by July 10th;
- Aptos (APT) will unlock approximately 11.31 million tokens at 9:59 PM on July 12th, Beijing time, accounting for 2.49% of the current circulation, worth about $63 million;
- The US June CPI (Consumer Price Index) data will be released on July 11th;
- Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 AM on July 12th, Beijing time, accounting for 2.15% of the current circulation, worth about $41.6 million;
- The US House of Representatives plans to vote next week to overturn Biden's veto of Resolution SAB 121;
- Notcoin announces the launch of a Telegram game accelerator, with the first batch of applications opening next week.
July 8th
Regulatory News:
A source stated that the SEC has returned the S-1 form to the potential Ethereum ETF issuer with some comments, requesting that these comments be addressed and resubmitted by July 8th. The source pointed out that this would not be the final filing after the form is returned, indicating that at least one more filing would be required before the ETF can begin trading.
Exchanges:
South Korean cryptocurrency exchange Bithumb will delist Enter Button (ENTC) at 3:00 PM local time on July 8th. This decision was made due to the project's failure to implement according to its roadmap and delays in its operation and development plans. After a comprehensive review, Bithumb believes that the sustainability concerns of ENTC cannot be resolved.
Bitget to launch BGB U perpetual contract on July 8th
Bitget will launch the BGB U perpetual contract with a maximum leverage of 50x at 18:00 on July 8th, Beijing time. Additionally, Bitget will also launch BGB's contract strategy trading at the same time.
Project Updates:
The EOS Network Foundation (ENF) announced on its official blog that based on the new EOS token economics, the EOS staking plan will be launched on July 8th, with the first 250 million EOS entering the staking pool. Users can stake EOS to start earning rewards, and there will be a 21-day waiting period for unstaking.
BNB Greenfield mainnet expected to undergo Veld hard fork on July 8th
According to the official announcement, the decentralized data storage network BNB Greenfield is set to undergo a Veld hard fork, with significant updates and optimizations to the platform. The testnet is expected to undergo the Veld hard fork at block height 9,581,218. Based on the current block interval, it is expected to occur at 15:00 on June 25th, Beijing time. The mainnet is expected to undergo the hard fork at block height 9,269,910. Based on the current block interval, it is expected to occur at 15:00 on July 8th, Beijing time. Validators and storage providers should upgrade to the latest version before the hard fork. The hard fork will not affect users' account balances.
Zircuit mainnet to be released, starting the second season on July 8th
The EVM-compatible zkRollup network Zircuit officially announced the upcoming release of its mainnet. The Zircuit points snapshot obtained from the first season (staking and previous activities) will be taken on July 7th, and the second season will start on July 8th. According to previous reports, Binance Labs announced an investment in the Ethereum Layer 2 network developer Zircuit, with the specific amount undisclosed. Since its establishment in mid-2022, Zircuit has also received support from Pantera Capital and Dragonfly. Zircuit plans to launch its mainnet in the coming months.
MakerDAO and Web3 audit competition provider Sherlock will collaborate on a $1.35 million audit competition, which will start on July 8th and end on August 5th, to ensure the security of its Endgame phase.
July 9th
Exchanges:
OKX to delist RNDR perpetual contract on July 9th
According to the official announcement, OKX will delist the RNDR perpetual contract from 4:00 to 5:00 PM on July 9th (UTC+8), and will also delist RNDR leveraged trading from 4:00 to 5:00 PM on July 8th (UTC+8).
Project Updates:
Galxe's GAL token to migrate to G token, migration portal to open on July 9th
Galxe, a Web3 infrastructure and digital credential network, announced on X platform that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize the experience across two ecosystems. G is the native token of Gravity and serves as the utility token for the Gravity and Galxe ecosystems. G drives transactions as the Gas token and will soon be secured through staking. As the primary utility token across two ecosystems, G powers governance decisions, incentivizes growth, and facilitates payments. The G token will serve as the native token of the Gravity Alpha mainnet and exist as an ERC20 token on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000 tokens.
After the on-chain migration is completed, existing GAL tokens will be destroyed, and new G tokens will be sent to their wallets at a ratio of 1:60. The migration portal will be open to all users on July 9th and will remain online for at least one year to ensure that GAL holders have sufficient time to complete this process.
OpenAI to stop API usage from unsupported countries and regions on July 9th
Earlier today, some developers received a letter from OpenAI stating, "According to data, your organization has API traffic from regions not currently supported by OpenAI. Starting from July 9th, additional measures will be taken to stop API usage from countries and regions not on OpenAI's supported list."
Token Unlock:
July 10th
Regulatory News:
According to an announcement on the STFIL Protocol official website, the LSD protocol STFIL Protocol in the Filecoin ecosystem has been investigated by the Hunan Hanshou County Public Security Bureau for involvement in the "3.28" illegal use of information networks. A batch of involved FIL virtual currency has been lawfully seized. The announcement requires staking and lending users of the website to bring valid identification and related records to the Hanshou County Public Security Bureau to report the situation and provide evidence by July 10th, 2024. Virtual currency not reported by the deadline will be disposed of according to the law.
Project Updates:
According to the Snapshot page, the Lido community has initiated a proposal to "appoint an entity to respond to pending collective litigation against Lido DAO." The proposal suggests appointing and hiring Dolphin CL, LLC, a limited liability company from Delaware, as legal counsel, and funding them with 200,000 DAI on behalf of Lido DAO to appear in the litigation. The proposal will end on July 10th. The proposal states that a plaintiff has filed a collective lawsuit in the Northern District of California, case number 3:23-cv-06492 ("Complaint"), listing "LIDO DAO" as the defendant. In the Complaint, Lido DAO is accused of being a "limited liability company operating an Ethereum staking business," and LDO tokens or LDO token transactions are alleged to be securities or securities transactions. Lido DAO is accused of violating securities laws by offering or selling these securities to the public.
Token Unlock:
dydx (DYDX) will unlock approximately 1.55 million tokens at midnight on July 10th, Beijing time, accounting for 0.68% of the current circulation, worth about $1.9 million.
July 11th
Regulatory News:
Former US President Trump's sentencing date set for July 11th, may be delayed
The sentencing date for former US President Trump is set for July 11th but may be delayed. Court documents show that the sentencing for Trump's "hush money" case may be delayed by two weeks. The Manhattan District Attorney's Office in New York stated that they are willing to delay the judgment of the "hush money" case after the US Supreme Court made a ruling granting former President Trump "some degree" of immunity. A court document on that day shows that the Manhattan District Attorney's Office is willing to delay the judgment of the "hush money" case, originally scheduled for July 11th, by up to two weeks.
US June CPI (Consumer Price Index) data released
Project Updates:
Degen: Airdrop 2 Season 6 to start on July 11th
Degen announced on X platform that Airdrop 2 Season 6 will start on July 11th.
OP Labs announced that the upcoming Fjord upgrade, bringing new features and cost savings, will be led by the Base team with support from OP Labs. The upgrade will take place on the OP mainnet at 16:00:01 UTC on July 10th (00:00:01 on July 11th, Beijing time). After the upgrade, the cost of smart wallet key verification will decrease by up to 20 times, and transaction costs will decrease by 5-15%. Additionally, the sequencer drift time will increase from 10 minutes to 30 minutes to better maintain the activity of the Superchain. Chain operators need to upgrade their software and reconfigure the fee coefficient.
Token Unlock:
io.net (IO) will unlock approximately 2.11 million tokens at 8:00 PM on July 11th, Beijing time, accounting for 2.22% of the current circulation, worth about $4.4 million.
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 AM on July 11th, Beijing time, accounting for 0.34% of the current circulation, worth about $560,000.
July 12th
Project Updates:
According to an announcement on X platform by NAVI Protocol, the one-stop liquidity protocol for the Sui ecosystem, NAVI Protocol has launched the "NAVIgator Expedition" activity to celebrate the integration of the Taskon platform with the Sui Network. The activity will run from today until the end of July 12th, 2024. A total of 15,000 NAVX tokens will be distributed to 10 eligible participants through a lucky draw, with each winner receiving 1,500 NAVX tokens. Additionally, NAVI Protocol recently announced the successful integration of the social media account integration tool Stashed, supported by Getstashed Sui, through a collaboration with Mysten Labs and Stashed, NAVI will bring lending services to a wider mainstream audience.
Pre-order or reserve Solana Mobile Chapter 2 before July 12th to receive Holdium token airdrop
Holdium, a loyalty project in the Solana ecosystem, stated on X platform that token airdrops for pre-order holders of Solana Mobile Chapter 2 will be distributed without registration. Before July 12th, 5% of the Holdium supply will be distributed to all holders of pre-order tokens. This means that anyone who pre-orders or reserves Solana Mobile Chapter 2 before July 12th is eligible for this special project airdrop.
Token Unlock:
Aptos (APT) will unlock approximately 11.31 million tokens at 9:59 PM on July 12th, Beijing time, accounting for 2.49% of the current circulation, worth about $63 million.
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 AM on July 12th, Beijing time, accounting for 2.15% of the current circulation, worth about $41.6 million.
July 13th
No specific information available.
July 14th
Project Updates:
BNB Chain: Second Sunset Fork scheduled for July 14th
According to an official announcement from BNB Chain, the second Sunset Fork is scheduled for July 14th. During this time, the staking function of BNB Beacon Chain (BC) will migrate to BNB Smart Chain (BSC), and BC will exit the stage of history. All assets need to be migrated to BSC: 1. Staked BNB: If BNB is staked, the migration needs to be completed before July 14th, otherwise the staking will be automatically canceled and returned to the user's account within two weeks. 2. BNB and other BEP2 assets: These assets also need to be transferred from BC to BSC, and if the migration is not completed after August 15th, the assets will be unable to be transferred. Users who have not completed the asset migration are requested to do so before July 14th.
The US cryptocurrency investment company Multicoin Capital has pledged to provide up to $1 million in funding to support cryptocurrency-friendly Senate candidates. The investment firm plans to fund four Republican candidates through the conservative super PAC Sentinel Action Fund: Sam Brown from Nevada, David McCormick from Pennsylvania, Bernie Moreno from Ohio, and Tim Sheehy from Montana. All four candidates have received an "A" rating from Stand With Crypto, a cryptocurrency advocacy organization led by Coinbase. Multicoin Capital will match 100% of SOL tokens donated through the Gemini donation portal by July 14th, based on the results of Sentinel's crypto donation campaign. Kyle Samani, Managing Partner at Multicoin, stated that the donation is to support candidates who believe in the need for innovation and freedom in the United States. Despite Sentinel being a conservative organization, Multicoin believes that the candidates it supports align with its crypto interests.
Token Unlock:
Ethena (ENA) will unlock approximately 14.89 million tokens at 2:00 PM on July 14th, Beijing time, accounting for 0.87% of the current circulation, worth about $5.6 million.
To Be Determined
Regulatory News:
The US House of Representatives plans to hold a crucial vote next week to overturn Biden's veto of the resolution related to the SEC's cryptocurrency custody accounting standard announcement (SAB 121). Although the House passed the resolution aimed at overturning SAB 121 with a vote of 228-182 in May, overturning the veto requires a two-thirds majority vote in both houses of Congress. Subsequently, Biden vetoed the resolution. SAB 121 was first released in 2022 and has sparked controversy over the past year. It requires cryptocurrency custodians to record customer-held cryptocurrencies as liabilities on their balance sheets. The crypto industry is concerned that this move may hinder bank protection of digital assets.
Bloomberg analyst: Ethereum spot ETF may start trading later next week or in the week of July 15th
Bloomberg analyst James Seyffart tweeted that Bitwise Invest has resubmitted the revised Ethereum ETF S-1 form and expects more issuers to submit the form this week. The analyst believes that the Ethereum spot ETF product may start trading later next week or in the week of July 15th. Another Bloomberg analyst, Eric Balchunas, commented, "No one really knows why the SEC is taking so long to process these forms. Given the lack of comments, the trading should happen soon. But it could be some 'issue' slowing things down, or just people on vacation for the summer. But all signs point to this month, more details will be revealed next week."
According to a statement released by the White House, US President Biden has nominated Commodity Futures Trading Commission (CFTC) commissioner Christy Goldsmith Romero to lead the Federal Deposit Insurance Corporation (FDIC), and has nominated CFTC commissioner Kristin Johnson to serve as Assistant Secretary for Financial Institutions at the Treasury Department. Both commissioners have urged the CFTC to issue rules or guidance to protect consumers and address conflicts of interest in the cryptocurrency space. Romero has previously warned of "contagion risk" in the cryptocurrency market and compared the industry to the 2008 financial crisis. Romero is also the founder of the CFTC's Technology Advisory Committee, which earlier this year voted to submit a report to the commission calling for government and industry understanding of decentralized finance. Johnson has stated that the CFTC should "immediately develop regulatory standards for asset custody." He has also expressed concerns about decentralized finance and artificial intelligence. According to Reuters, the Biden administration is pushing for the first nomination hearing to begin the week of July 8th.
Project Updates:
Jupiter: New Solana trading method based on Ape and Vault to be launched next week
According to the official Twitter account of Jupiter, Jupiter recently launched a new product ape.jup.ag and has fixed some issues based on user feedback. A refresh icon has been added to quickly update balances and transaction history, and display issues on small screens have been fixed. The Ape application is also being optimized and is expected to be completed tomorrow to speed up new token trading and balance inquiries. A new Solana trading method based on Ape and Vault will be launched next week.
Telegram gaming project Notcoin has announced the launch of the Telegram Gaming Accelerator, aiming to provide blockchain-powered Telegram mini-programs for millions of users.
Notcoin stated that it is partnering with the artificial intelligence analytics company Helika to expand and launch the game developer accelerator. Based on the experience of Helika Accelerate and $50 million in funding, the project will help game studios, mobile apps, and independent developers build outstanding gaming experiences on the Telegram platform and TON blockchain. The first batch of applications will open next week.
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