Today's Headlines:
Data: Currently only 20% of traders on the Pump.fun platform have achieved profitability
Data: 75% of Bitcoin has not been transferred within 6 months
Wintermute once again deposits 1631.863 WBTC to Binance, worth $97.03 million
Regulatory News
According to Cointelegraph, the U.S. Department of the Treasury (DOT) released a semi-annual regulatory agenda on August 16, revealing that the federal government is about to create a fair regulatory environment for cryptocurrency and traditional fiat currency. The Federal Reserve Board (FRS) and the Financial Crimes Enforcement Network (FinCEN) plan to modify the definition of "currency" used in the "Bank Secrecy Act" (BSA) to strengthen reporting requirements for domestic and cross-border cryptocurrency transactions by financial institutions. According to the agenda: "These agencies (FRS and FinCEN) hope that the proposed revisions will ensure that the rules apply to domestic and cross-border transactions involving convertible virtual currency, which is a medium of exchange (such as cryptocurrency) that has a value equivalent to currency or can substitute for currency, but lacks legal tender status." However, the proposal will also extend reporting requirements to digital assets with legal tender status, including central bank digital currencies (CBDCs). The final notice for the proposed rules is currently scheduled to be issued in September 2025, subject to approval.
The Australian Securities and Investments Commission (ASIC) stated that it coordinated the clearance of over 600 cryptocurrency scam cases last year, helping to combat 5,530 fraudulent investment platform scams, 1,065 phishing scams with hyperlinks, and 615 cryptocurrency investment scams. These scams are estimated to have caused a total of $1.3 billion in losses last year, spread through fake news articles and deepfake videos of local public figures. ASIC stated that an average of 20 websites are shut down daily, as scammers continuously adjust their strategies and seek new methods to deceive victims.
ASIC refers suspicious websites to third-party companies specialized in detecting and combating cybercrime. Once malicious activities are confirmed, the clearance process begins, including identifying relevant parties that can help prevent attacks. Targeted websites typically involve false or impersonated entities, providing investment scams to Australians, such as fraudulent trading platforms and cryptocurrency investment scams. Despite a surge in cryptocurrency-related scams around the time of the Bitcoin halving event in April, data provided by regulatory agencies shows a decrease in the number of cryptocurrency-related scam cases.
Project Updates
The DOGS community on Telegram announced that so far, over 6 million verified users have requested to directly deposit their DOGS into exchanges and Telegram wallets. The team has decided to add more withdrawal options and extend the application deadline to ensure that everyone has enough time.
- Applications for exchanges and Telegram wallets will remain open until 2:00 on August 22 (UTC+8);
- Applications for non-custodial wallets will begin at 16:00 on August 23 (UTC+8);
- TGE and listing will take place on August 23 at 20:00.
Swell Network: Completed White Pearls snapshot, holders will share all Swell L2 airdrops
Liquidity re-staking platform Swell Network announced on X platform that the White Pearls snapshot has been completed, and Black Pearls holders will be able to claim SWELL in the first round of Wavedrop in October, while ecosystem token holders will share all Swell L2 airdrops.
Ava Labs COO's X account suspected to be compromised, do not interact
According to PeckShield monitoring, Ava Labs COO Luigi D'Onorio DeMeo's X account is suspected to have been compromised, and false token information has been posted. Do not interact with any addresses or links posted by them.
Polygon executives: 90% of L1/L2 BD teams will demand shares/airdrops from ecosystem projects
Polygon's Chief Information Security Officer Mudit Gupta stated on X platform that there is panic over Eigen Labs employees demanding airdrops from ecosystem sub-projects, but in reality, 90% of L1/L2 BD teams will directly demand shares/airdrops as advisors. If any journalist really wants to investigate, they just need to launch a new fake DEX and contact different BD teams to find out.
Tether to launch USDT on the Aptos blockchain
Tether has announced that it will soon launch USDT pegged to the US dollar on the Aptos network. The average daily active users on Aptos increased from 96,000 in January to 170,000 in July. Additionally, the daily transaction volume processed in May 2024 set a record of 157 million transactions.
Binance to launch SYS 1-50x USDT perpetual contract
According to the official announcement, Binance will launch the SYSUSDT perpetual contract at 20:30 on August 19 (UTC+8), with a maximum leverage of up to 50x.
ETHGlobal announces winning projects of SuperHack 2024
ETHGlobal has announced the list of winning projects for SuperHack 2024, including 8 innovative applications: 1. Gasless on-chain mobile game Tamayoshi; 2. ChooseADelegate, using social graphs to help users vote for active delegates on DAO proposals; 3. Discord payment bot Century Pay; 4. EthDrive, providing a digital asset storage solution similar to Google Drive, organizing assets using directory structures, conducting transactions, and connecting to dApps; 5. QuickPay, allowing USDC holders on Base to make payments at physical merchants in Mongolia using the existing Qpay system; 6. Farcaster, an on-chain reputation game Kiss or Slap; 7. HomeBase, a dashboard aggregating various Base projects, simplifying the experience for people entering the on-chain world; 8. On-chain AI art game DrawDash.
According to FN News, since the implementation of the "Virtual Asset User Protection Act" on July 19, the number of newly listed cryptocurrencies on the four major exchanges in South Korea—Upbit, Bithumb, Coinone, and GoPax—has sharply decreased. Before the legislation, these platforms collectively launched 188 different cryptocurrencies in the first half of the year, averaging about 24.5 new listings per month. However, this pace has recently dropped to more than half. For example, Upbit introduced 47 new currencies in the first half of the year, but since the law's implementation, it has only added two new currencies—Pendle and Aethir—in the Korean won and Bitcoin markets. Bithumb's average monthly listings decreased from 5.73 to only 3, and Coinone's average monthly listings decreased from 7.8 to 4. Meanwhile, GoPax has not introduced any new currencies since the new regulations were enacted.
Key Data
Data: 75% of Bitcoin has not been transferred within 6 months
According to Zerohedge, Bitcoin Magazine Pro data shows that nearly 75% of circulating bitcoins have been idle for over six months. Despite market volatility, this strong HODLing behavior reflects a steadfast belief in the long-term value of Bitcoin. The dominance of old coins (held for 6 months or longer) indicates that more long-term investors are holding Bitcoin, possibly anticipating future price increases.
Galaxy Digital suspected to have added 400 BTC worth $23.4 million half an hour ago
According to @ai_9684xtpa monitoring, Galaxy Digital is suspected to have added 400 BTC worth $23.4 million half an hour ago. The institution had previously withdrawn a total of 6,950 BTC from Binance between July 27 and August 2, with a total value of up to $464 million at an average price of $66,776. Then, within a week from August 3 to August 6, they re-deposited 2,050 BTC (approximately $112 million) to the exchange, resulting in a potential loss of $24.78 million if sold.
Ceffu has deposited 3,568 BTC, approximately $211.6 million, to Binance since July 31
According to Lookonchain monitoring, Ceffu has deposited 3,568 BTC (approximately $211.6 million) to Binance since July 31. Ceffu provides custody and liquidity solutions for institutions, indicating that institutions are likely selling BTC.
Wintermute deposited 1631.863 WBTC worth $97.03 million to Binance in the past 13 hours
According to @ai_9684xtpa monitoring, Wintermute deposited 1631.863 WBTC worth $97.03 million to Binance in the past 13 hours. The total amount transferred to the exchange since August 17 has increased to 5860.67 WBTC, with a total value of up to $348 million.
Data: As of August 16, 40 funds globally hold over 1.07 million BTC
According to HODL15Capital monitoring, global Bitcoin ETF data shows that as of August 16, 40 funds hold 1,070,594 BTC, and Belld IBIT continues to increase its BTC holdings.
According to Trader T statistics, three sets of data summarize the institutional holder situation of Q2 spot Bitcoin ETFs. 1. BlackRock's IBIT: 582 institutional holders, a 34% increase QoQ; 118 million shares, excluding options, a 47% increase QoQ. 2. Fidelity's FBTC: 303 institutional holders, a 25% increase QoQ; 50.4 million shares, excluding options, a 35% increase QoQ. 3. Bitwise's BITB: 139 institutional holders, a 35% increase QoQ; 14.7 million shares, excluding options, a 50% increase QoQ.
Aptos announced on X platform that the game Tapos broke the record of over 500 million transactions within 3 days. Last week, Aptos broke multiple records, including: peak TPS of 12,492; total user transaction volume of 326 million; daily transaction volume of 50 million; and processed 4100+ TPS on August 15.
GSR deposited 10.89 million RARE, approximately $3.41 million, to Binance in the past 24 hours
Data: Currently, only 20% of traders on the Pump.fun platform have achieved profitability
Cryptocurrency KOL arndxt revealed on the X platform the trading data of the Pump.fun platform, showing that only 70 traders (0.0028%) achieved profits exceeding $1 million; 924 traders (0.037%) achieved profits exceeding $100,000; 11,936 traders (0.477%) achieved profits exceeding $10,000; and 76,567 traders (3.061%) achieved profits exceeding $1,000. Only 20% of traders achieved profitability, while the remaining 80% incurred losses.
CryptoPunk #5822 sold for an undisclosed price, previously traded for $23.7 million in 2022
CryptoPunk #5822 was sold for an undisclosed price and is currently held by an address starting with 0xc121. In 2022, CryptoPunk #5822 was recognized by the Guinness World Records as the most expensive NFT collectible. The NFT was purchased on February 12, 2022, by Deepak Thapliyal (deepak.eth), the CEO of blockchain technology startup Chain.com, for 8,000 ETH (valued at $23.7 million), making it the highest recorded sale price in the history of CryptoPunk NFTs.
Vitalik transferred 400 ETH to Railgun
According to PeckShield monitoring, Vitalik transferred 400 ETH (valued at approximately $1 million) to Railgun.
Earlier news reported that Vitalik transferred 400 ETH (valued at approximately $1.06 million) to the new address 0x18…F10E, and the subsequent 400 ETH may be transferred to Railgun.
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