Compilation: Lu'an Peng ChainCatcher
Important Information:
- Manta联创: Polkadot is a "highly toxic" ecosystem, lacking true value for Web3
- Central Bank of the Bahamas is formulating regulations requiring commercial banks to provide central bank digital currency services
- CME FedWatch: Probability of the Fed maintaining interest rates in August is 91.2%
- 1confirmation founder: Base will become the main hub for breakthroughs in encrypted consumer applications
- Data: 6 Hong Kong virtual asset ETFs traded approximately 18.38 million Hong Kong dollars today
- Matrixport: Bitcoin has broken the downward trend
- Binance Japan will delist NEM (XEM) on September 18
- Shanghai releases the first WEB3.0 industry report, experts suggest studying "Token Economics"
"What important events have occurred in the past 24 hours"
Manta联创: Polkadot is a "highly toxic" ecosystem, lacking true value for Web3
Victorji.eth, co-founder of Manta Network, publicly criticized the Polkadot ecosystem on Twitter, calling it a "highly toxic" ecosystem that lacks true value for Web3 and does not focus on users or adoption rates. As the founder of the project with the largest TVL and market value/FDV in the former Polkadot ecosystem, he stated that the team has completely shifted to the Manta Pacific project because the Polkadot ecosystem is essentially "dead".
Victorji.eth also accused the Polkadot team of discriminating against Asian developers, pointing out that European and American projects receive far more funding than Asian projects. He encouraged developers to turn to more active ecosystems such as Solana, Ethereum, and Bitcoin.
According to The Block, the Central Bank of the Bahamas is formulating regulations requiring commercial banks to provide access to its central bank digital currency.
John Rolle, Governor of the Central Bank of the Bahamas, stated that the adoption of the Sand Dollar (CBDC launched by the Bahamas in 2020) is still limited, so the government is formulating regulations to effectively compel commercial banks to issue central bank digital currency to promote its popularity.
CME FedWatch: Probability of the Fed maintaining interest rates in August is 91.2%
According to CME's "FedWatch" data, the probability of the Fed maintaining interest rates in August is 91.2%, and the probability of a 25 basis point rate cut is 8.8%.
Nick Tomaino, founder of 1confirmation, stated on X platform that Base will become the main hub for breakthroughs in encrypted consumer applications.
He pointed out that exchanges are the main entry point for consumers, and Coinbase, as a mainstream exchange, will guide hundreds of millions of people into Base. Referring to the Binance Chain in the last bull market, Binance promoted its large-scale development by guiding exchange users to the chain. Imagine when Coinbase guides users to a chain with excellent applications, what kind of network effect will be generated.
Tomaino also mentioned that the best encryption developers are building high-throughput, low-cost consumer applications on Base. In addition, Base's culture is suitable for the mass market, with no native tokens, so decision-making will not be too indecisive; and no one will recruit celebrities to release meme coins and then run away. What attracts outsiders is not only making money, but also rich meme culture and art.
Data: 6 Hong Kong virtual asset ETFs traded approximately 18.38 million Hong Kong dollars today
Hong Kong stock market data shows that as of the close, the trading volume of 6 Hong Kong virtual asset ETFs today was approximately 18.38 million Hong Kong dollars, including: Huaxia Bitcoin ETF (3042.HK) with a trading volume of 10.6968 million Hong Kong dollars; Huaxia Ethereum ETF (3046.HK) with a trading volume of 1.0788 million Hong Kong dollars; CSOP Bitcoin ETF (3439.HK) with a trading volume of 3.9921 million Hong Kong dollars; CSOP Ethereum ETF (3179.HK) with a trading volume of 1.0948 million Hong Kong dollars; Bosera HashKey Bitcoin ETF (3008.HK) with a trading volume of 1.1232 million Hong Kong dollars; Bosera HashKey Ethereum ETF (3009.HK) with a trading volume of 0.3978 million Hong Kong dollars.
Matrixport: Bitcoin has broken the downward trend
Matrixport released a chart today stating that Bitcoin has broken the downward trend. The institution's analysis indicated that the Greed and Fear Index chart on June 25 showed that Bitcoin had reached a "possible low level," which is usually associated with a price rebound. Earlier on June 26, Matrixport pointed out that Bitcoin was oversold. Last weekend, Bitcoin broke the short-term downward trend. Although the continued rebound is still hindered, strategically speaking, the rebound has appeared.
Binance Japan will delist NEM (XEM) on September 18
According to CoinPost, Binance Japan announced that it will delist NEM (XEM) on September 18. This decision was made after the decision to delist NEM (XEM) from Binance Global last month.
Currently, the cryptocurrency exchanges in Japan that support XEM trading include bitFlyer, GMO Coin, BitTrade, and Zaif.
Shanghai releases the first WEB3.0 industry report, experts suggest studying "Token Economics"
According to a report from Shanghai by China News Service, under the guidance of the Shanghai Municipal Science and Technology Commission, the Liberation Daily and the School of Economics at Fudan University jointly released the first WEB3.0 industry report titled "2024 Shanghai WEB3.0 Innovation Ecosystem Construction Research Report." Experts suggest studying "Token Economics," and Meng Yan, co-author of the ERC-3525 token standard, recommends that domestic government departments accelerate research and formulation of token regulation policies to provide security for the "Token Economy" and digital assets.
Xu Xiaoyu, Managing Partner of Amino Capital from Silicon Valley, stated that "Token Economics" is on the rise, and governments, universities, and research institutions can conduct in-depth research on this field to provide academic support for the prosperity of the next generation of the Internet and the construction of innovative regulatory systems.
According to MinerMag, Australian cryptocurrency mining company Iris Energy announced that it has raised $413.4 million through stock issuance since mid-May. This funding will be used to fully support the company's expansion plan for 2024 after the Bitcoin halving event, aiming to achieve the 2024 growth plan (including a hash rate of 30 EH/s and a data center capacity of 510MW). This financing was completed through the company's market sale (ATM) plan from May 15 to June 28, selling a total of 39.8 million shares.
Including the previously raised funds, Iris Energy raised approximately $714 million in the first half of this year, including $257 million in equity financing in the first quarter and an additional $44.8 million between March 31 and May 15.
Lin Chen, Head of Deribit Asia Pacific Business, stated on X that the US Department of Justice (DOJ) chose Coinbase Prime to custody confiscated cryptocurrency assets and paid Coinbase $32.25 million for the custody and processing contract. Based on a 2% custody fee calculation, the DOJ may have $1.6 billion in cryptocurrency assets to process. The scale of these cryptocurrency assets can also be referred to as top asset management companies in the cryptocurrency field. Some of the largest revenues for the US Department of Justice this year also came from the cryptocurrency field.
In the article titled "The Ultimate Guide to Trading: How to Smartly Track Smart Money?" the author discusses the effectiveness of working smartly in the cryptocurrency field and shares a detailed ultimate guide to tracking smart money. The author also shares personal experiences and insights gained from tracking trading whales.
In the article "Arthur Hayes' New Article: The global economy is at the inflection point of inflation cycle, holding cryptocurrency is the best way to preserve value," the author discusses the upcoming devaluation caused by the expansion of the banking system and centralized credit allocation.
In the article "VC Perspective: How to Solve the 'High FDV, Low Circulation' Slow Poison?" the author discusses the concerns of investors about the sustainable investment potential of the "high FDV, low circulation" token issuance method in the current market cycle. The author suggests adding new parameters based on "liquidity" and/or "milestones" to improve the most common token lock-up models in the current market.
In the article "Blast: A Flash in the Pan? Or the Next Mass Adoption Gateway?" the author discusses the potential of Blast to become the next blockchain product to achieve mass adoption and provides an overview of its performance and market value.
In the article "Polkadot's Controversial First-Half Financial Report: $87 Million in Promotion Expenses Account for Nearly Half, with Revenue of Only $1.1 Million," the author discusses the controversy surrounding Polkadot's financial report for the first half of 2024, which has sparked community questioning despite the official claim that the treasury's funds are sufficient to support two years.
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