Headlines
According to the official announcement, Binance Launchpool has launched the 56th project, Toncoin (TON). Users can deposit BNB and FDUSD into the TON mining pool on the Launchpool website after 08:00 on August 15, 2024 (UTC+8) to receive TON rewards. The mining of TON will last for 20 days. The website is expected to be updated within approximately 24 hours before the mining activity opens. In addition, Binance's Super Earn platform will introduce TON super earn products, allowing users to subscribe to TON guaranteed earn products to enjoy special annualized returns for a limited time.
According to Whale Alert monitoring, Tether Treasury minted 1 billion USDT on the Ethereum chain at around 20:09 Beijing time today.
Galaxy Research's director of research, Alex Thorn, published an analysis on X platform regarding Vice President Harris's stance on cryptocurrencies. The choice of her advisory team indicates that she will continue the Biden administration's strict cryptocurrency regulation policy.
Harris has collaborated with key anti-cryptocurrency officials such as Brian Deese and Bharat Ramamurti, who were instrumental in promoting cryptocurrency regulation within the Biden administration. Deese emphasized the risks of cryptocurrencies in an article on the White House website, while Ramamurti is considered a top cryptocurrency critic within the White House. Their involvement suggests that the Harris administration is unlikely to soften its stance on cryptocurrency policies and will continue to support strict regulatory measures to protect consumers and the financial system.
Grayscale announced the launch of a new fund focused on MakerDAO governance tokens. The new closed-end fund, Grayscale MakerDAO Trust, will be open to eligible individual and institutional accredited investors. Similar to the company's other single-asset trusts, the fund does not allow direct withdrawals, which may lead to deviations between the fund's share price on the secondary market and the underlying asset price.
Industry News
Adam, a macro researcher at Greeks.live, published an article on X platform stating that the U.S. July PPI data was slightly lower than expected, with the core PPI monthly rate dropping to zero. Popular stocks in the U.S. stock market showed significant gains at the opening, but the crypto market remained stable and unaffected by the surge in U.S. stocks. The main short- and medium-term IV also decreased accordingly.
Tomorrow, there will be important CPI data, but based on the options data, the market's expectations are not high. Short-term skew slightly leans towards bearish, and the main term IV and block trading data remain stable. This week, RV has decreased significantly, and IV is under noticeable pressure, with short-term IV still relatively high compared to the average level.
During a live interview, Trump and Elon Musk praised the liberal President of Argentina, Javier Milei, for supporting Bitcoin. Musk has met with Milei several times in the U.S.
In a previous announcement in June, Argentine President Javier Milei stated, "Currencies will compete freely, so if you want to use Bitcoin, there will be no problem."
In its weekly on-chain report, Glassnode stated that after experiencing several months of relatively heavy distribution pressure, Bitcoin holders' behavior seems to have shifted back to holding (HODL) and accumulating. Over the past 3 months, over 374,000 BTC have entered the long-term holding (LTH) state.
Activity in the spot market indicates a net tendency of selling pressure recently, which has not completely dissipated. However, the sharp price fluctuations in recent months have led to a significant slowdown in LTH distribution pressure, resulting in the stabilization of the proportion of holdings by this group and then a renewed growth.
Compared to the previous ATH breakthrough in the cycle, the value of holdings by the long-term holder group is still at a historical high. This indicates that if the price of Bitcoin rises in the future, LTH may face further withdrawal pressure. It also suggests that despite Bitcoin's price remaining range-bound, or even declining recently, these investors have a reduced willingness to sell at lower prices.
Overall, despite the challenging and volatile market environment, long-term Bitcoin holders remain steadfast, with evidence showing that they are increasing their accumulation behavior. This group of investors holds a higher proportion of Bitcoin network wealth and demonstrates a certain level of patience, waiting for price increases. Furthermore, despite the largest price pullback in the cycle, these investors have not engaged in panic selling, highlighting the resilience of their overall belief.
Japanese listed company Metaplanet announced on X platform that it has once again acquired 57.1 BTC. Earlier in August, Metaplanet Inc. announced that it had obtained a 1 billion yen (0.1% APR) loan, and the proceeds will be used to purchase additional BTC.
According to Arkham monitoring, the wallet that received 2.19 billion USD worth of Bitcoin from Mt.Gox has just initiated test transactions with wallet bc1q26, which is likely owned by Bitgo. Bitgo should be the fifth and last exchange to work with Mt.Gox trustees to distribute funds to Mt.Gox creditors.
Project News
WazirX released a security incident update on X:
Balances from trades occurring between July 18 and 21 are about to be restored. This will reverse all transactions that took place on the WazirX platform after 1:00 PM (IST) on July 18, 2024, when withdrawals were halted.
The team is working with legal experts to devise an effective method for enabling withdrawals.
344 applications have been received in the bounty program, including security professionals and ethical hackers who are actively tracing the stolen funds.
WazirX is in contact with multiple partners to explore all possible solutions to mitigate the financial impact of the network attack. Currently, WazirX is in discussions with 7 partners and making steady progress.
Investment and Financing
Layer 2 Ethereum Network Reddio Completes Seed Round Financing, Led by Paradigm and Arena
The Layer 2 Ethereum network Reddio has announced the completion of its seed round financing, with joint leadership from Paradigm and Arena Holdings. It is reported that the project has already launched staking and task systems. The project was founded by Neil, a graduate of Stanford Graduate School of Business and the National University of Singapore. He was the 003rd employee in the Asia Pacific region for the U.S. cloud service provider Twilio, the general manager of PingCAP in the Eurasian region, and a lecturer at Nanyang Technological University. He is an early advocate of zk rollup technology and has provided open-source scaling solutions for projects like Starknet. The high-performance distributed database developed by the team is currently being used long-term by Bybit, OKX, and Square. Due to Reddio's main focus on parallel and hardware acceleration, GPU miners can participate in Reddio's node operation in the future.
The project has already launched staking and task systems and has also disclosed that the results of a new round of Series A financing will be announced soon, with the participation of multiple institutions.
Voices in the Industry
FxPro Analyst: BTC Market Shows Signs of Seller Dominance
FxPro Senior Market Analyst Alex Kuptsikevich stated that the BTC market shows signs of seller dominance, and it is expected that the price of Bitcoin will fall again in the short term, possibly by around $5,000. He added that the 14-day Relative Strength Index (RSI) no longer indicates oversold conditions, suggesting that there may be further room for decline in the market, consistent with the recent dominance of sellers in the $60,000 range. (Coindesk)
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
