Daily Report | OKX will list Xraders (XR) spot trading; Binance will delist tokens such as BOND and DOCK; Tether is developing a decentralized AI model; Vitalik donates 100 ETH to the 2077 Collective

Compilation: Fairy, ChainCatcher

Important Information:

What Important Events Have Occurred in the Past 24 Hours?

CoinShares: Digital Asset Investment Products Saw Inflows of $441 Million Last Week

The latest CoinShares weekly report shows that the total inflow of funds into digital asset investment products reached $441 million last week. The recent price weakness caused by Mt Gox and selling pressure from the German government is likely to be seen as a buying opportunity. The inflow amount for Bitcoin reached $398 million, but due to investors choosing to invest in a wider range of altcoins, Bitcoin accounted for only 90% of the total inflow. Blockchain stocks did not reflect a turnaround in investor sentiment, with $8 million in outflows last week.

Data: Over 46,000 BTC Flowed Out of Exchanges on July 5, the Largest Outflow This Year

CryptoQuant analyst Woominkyu stated that the largest Bitcoin withdrawal of the year occurred on July 5, with over 46,000 BTC flowing out of spot exchanges on that day.

The peak of outflows shown in the chart indicates that a large amount of Bitcoin is being transferred from exchanges to wallets. Investors typically view this type of large-scale withdrawal as a bullish signal, believing that large holders may anticipate a price increase or prefer long-term holding over selling.

Binance to Delist BOND, DOCK, MDX, POLS

According to an official announcement, Binance has decided to cease trading and delist the following tokens on July 22, 2024, at 11:00 (UTC+8): BarnBridge (BOND), Dock (DOCK), Mdex (MDX), Polkastarter (POLS).

Data: German Government Address Deposited 150 BTC into Kraken 15 Minutes Ago

According to Arkham monitoring, the German government address deposited 150 BTC into Kraken 15 minutes ago, equivalent to approximately $8.57 million.

In addition, it transferred 1250 BTC to two unknown addresses, totaling approximately $71.45 million.

Data: German Government Address Transferred 133.722 BTC to Market Maker Cumberland DRW

According to Arkham monitoring, the German government address transferred 133.722 BTC to market maker Cumberland DRW at 18:58 today (UTC+8), worth approximately $7.63 million. This is the first time the German government address has transferred to Cumberland DRW.

In addition, the German government address had previously transferred a total of 500 BTC to Bitstamp and Coinbase.

Data: German Government Address Transferred 1000 BTC to Another Controlled Address

According to Arkham monitoring, the wallet address labeled "German government" transferred 1000 BTC to another address also labeled "German government" 13 minutes ago, equivalent to $55.76 million.

OKX to List Xraders (XR) Spot Trading

OKX announced the listing of Xraders (XR) spot trading. XR deposits will open at 2:00 pm Beijing time on July 8, 2024, XR/USDT spot trading will open at 4:00 pm Beijing time on July 11, 2024, and XR withdrawals will open at 6:00 pm Beijing time on July 12, 2024.

Xraders is a decentralized expert-selected platform that provides actionable insights for investors through a combination of AI modeling and community-driven validation, aiming to enhance users' trading experience.

Vitalik Donates 100 ETH to 2077 Collective Community

Vitalik Buterin, co-founder of Ethereum, donated 100 ETH to the 2077 Collective community. The mission of 2077 Collective is to enhance the influence and attractiveness of Ethereum through innovative initiatives and community-driven efforts.

Taiwan, China Establishes CBDC Prototype Platform, Plans Hearing Next Year

Taiwan, China has established a prototype platform for central bank digital currency (CBDC). The central bank of Taiwan will continue to research and develop CBDC, planning to hold multiple hearings and forums next year. It is reported that the central bank has developed a CBDC prototype platform with a two-tier issuance structure. Initially, the CBDC will not bear interest, and CBDC wallets may include anonymous and registered types.

Fuel Launches Points Program, Offers Potential Incentives Before Mainnet Launch

Modular execution layer Fuel announced the launch of the Fuel Points program, providing an opportunity to earn future rewards as the Fuel Mainnet progresses. The Fuel Points program aims to reward all those who contribute to the development of the Fuel network and ecosystem.

It is reported that the Fuel network is an operating system built for Ethereum Rollup OS, aiming to advance sustainable and high-throughput blockchain state.

Market News: Thai Government to Announce Negative List for Digital Wallet Program

The Thai Prime Minister is set to announce the registration of digital wallets on July 24, and the Thai government will also announce the negative list for the digital wallet program.

Greeks.live: Cryptocurrency Market Experiencing Worst July, Overall IV Level Rebounding

Greeks.live macro researcher Adam stated on social media that this week is a macro small week, and the selling of cryptocurrencies by the German and American governments is having a greater impact on the market than other factors. With continuous selling, the market is struggling to effectively turn around, and this week requires close attention to the actions of the German and American governments. In the crypto space, the SEC has delayed the response to the ETH ETF, which is likely to start trading next week, and there is a high probability of positive news this week.

The cryptocurrency market is experiencing its worst July, with significant pressure from the selling by the German and American governments causing accelerated declines in BTC and ETH, leading to a subdued crypto market. The overall IV level is rebounding significantly, and it is opportune to build positions with higher IV for selling orders, as a large amount of funds from quarterly settlements may push the IV back down at any time.

In the crypto interest rate market, the Bitfinex interest rate market is relatively quiet, with occasional good interest rate orders that can be actively executed.

The ETF Store President: Expected Revision of Ethereum Spot ETF S-1 to End Today

Nate Geraci, President of The ETF Store, stated on social media that the revised S-1 is set to end today (July 8), and it is currently unclear how quickly the U.S. Securities and Exchange Commission will process it.

Nate Geraci mentioned that he is particularly concerned about fees, and according to his previous prediction, the Ethereum spot ETF may be launched next week or the following two weeks.

Tether is Developing a Decentralized Artificial Intelligence Model

According to Beincrypto, stablecoin issuer Tether is developing a decentralized artificial intelligence (AI) model. The company's CEO, Paolo Ardoino, stated that these models better protect user privacy, ensure system resilience and independence, and can be used to prevent the type of hack that OpenAI suffered last year. He pointed out that the new generation of smartphones and laptops is powerful enough to fine-tune general large language models (LLMs) based on user data, enabling enhanced functionality to be locally stored on devices.

Data: Tokens such as APT, XAI, IMX to Undergo One-Time Large Unlock This Week, Totaling Approximately $159 Million

According to Token Unlocks data, several projects will undergo a one-time large token unlock this week, including APT, XAI, and IMX, totaling approximately $159 million. This includes:

Aptos (APT) will undergo an unlock of approximately 11.31 million tokens at 9:59 pm Beijing time on July 12, accounting for 2.49% of the current circulation, valued at approximately $63 million.
Xai (XAI) will undergo an unlock of approximately 198.4 million tokens at 5:30 pm Beijing time on July 9, accounting for 71.59% of the current circulation, valued at approximately $55 million.
Immutable (IMX) will undergo an unlock of approximately 32.47 million tokens at 8:00 am Beijing time on July 12, accounting for 2.15% of the current circulation, valued at approximately $41.6 million.
dydx (DYDX) will undergo an unlock of approximately 1.55 million tokens at midnight on July 10, accounting for 0.68% of the current circulation, valued at approximately $1.9 million.
Moonbeam (GLMR) will undergo an unlock of approximately 3.04 million tokens at 8:00 am Beijing time on July 11, accounting for 0.34% of the current circulation, valued at approximately $560,000.
io.net (IO) will undergo an unlock of approximately 2.11 million tokens at 8:00 pm Beijing time on July 11, accounting for 2.22% of the current circulation, valued at approximately $4.4 million.
Ethena (ENA) will undergo an unlock of approximately 14.89 million tokens at 3:00 pm Beijing time on July 14, accounting for 0.87% of the current circulation, valued at approximately $5.6 million.

"What are some great articles to read in the past 24 hours?"

The Booming TON Ecosystem: Why Most VCs Are Only Watching and Not Investing?

Recently, Donald, founding partner of FA institution D2 Capital, has talked to nearly 60 VCs and found that not a single one is not looking at the TON ecosystem, "even if they started researching three or four weeks ago."

However, despite the interest, there are not many actual investments. Most VCs that Donald has been in contact with are still in a wait-and-see mode, and Bruce Lan, managing partner of Bing Ventures, has scanned nearly 100 projects but has not made a move.

RootData shows that the number of financing deals in the TON ecosystem has been in single digits over the past six months. In contrast, the Bitcoin ecosystem, which is just as hot as TON, has seen almost weekly financing deals during the booming three months.

Investment institutions interviewed by ChainCatcher firmly believe that the TON ecosystem is different from any previous ecosystem or narrative and will not be short-lived. However, the game has changed on the TON ecosystem with existing traffic.

NotCoin, listed on Binance and OKX, did not seek VC financing; Catizen achieved $12 million in revenue before issuing tokens. More than one investment institution has stated, "Not all projects on the TON ecosystem need to issue tokens in the future."

If crypto VCs continue to look at the TON ecosystem based solely on token investments, it may no longer be effective.

MEME Becomes the Cake of the Bull Market: Pump.fun Data Overstated, TON, Jupiter, and Others Intensely Join In

The overall market has taken a sharp downturn, and the mainstream coin market is lukewarm. MEME coins are becoming the main battleground for various ecosystems.

On July 4, Jupiter announced the launch of a MEME market exploration tool, APE. In addition, in June, the well-known industry monitoring tool DEX Screener also launched a release platform similar to Pump.fun called Moonshot, with over 7,000 MEME tokens released in just one day on Moonshot. The hot TON ecosystem has also successively launched multiple MEME coin one-click issuance platforms: Gas Pump, Wonton, Pumper.

As the market has recently been in turmoil, this seemingly lucrative track has become a red ocean, and the popularity of MEME seems to have been exaggerated. More and more entrants are moving forward against the wind.

Why Are You Always Losing? The 10 Psychological Biases You Need to Overcome

Your biggest trading mistakes are not technical, but psychological errors, and these biases have destroyed countless traders.

Avoid the following at all costs:

Anchoring Bias

Traders focus on a price (anchor), which may affect their decision-making.
If Trader A entered the cryptocurrency market when the price of BTC was $52,000, then BTC at $61,000 seems expensive.
If Trader B entered the cryptocurrency market when the price of BTC was $71,000, then BTC at $61,000 seems cheap.

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