Binance will launch perpetual contracts for NULS and DOGS, with leverage of up to 75x.
Author: TechFlow
Yesterday's Market Dynamics
Yesterday, 10 Bitcoin ETFs net inflow of 3,622 BTC, 9 Ethereum ETFs net outflow of 4,926 ETH
According to Lookonchain data, 10 Bitcoin ETFs had a net inflow of 3,622 BTC (about $2.2886 billion), with iShares receiving 1,366 BTC (about $86.29 million), currently holding 354,209 BTC (about $22.38 billion). 9 Ethereum ETFs had a net outflow of 4,926 ETH (about $13.36 million), with Grayscale (ETHE) having a net outflow of 7,738 ETH (about $20.99 million), currently holding 1,822,527 ETH (about $4.94 billion).
Primitive Ventures Founder: More Bullish on ETH When Vitalik Himself Faces Public Challenges
Dovey Wan, founding partner of Primitive Ventures, believes that Ethereum is undergoing a transformation similar to "separation of church and state." She stated that Ethereum's success stems from its powerful "higher church" and several strong "nations," as well as intellectual leaders who are truly actively involved. Dovey Wan pointed out that although this process may be painful, it is necessary for forming a more decentralized and resilient technical stack, design standards, human capital, and knowledge capital network. She believes that similar to historical separation of church and state and the Enlightenment movement, the Ethereum ecosystem will become stronger through decentralizing power and embracing diverse thinking. New developers may prioritize practical development over political alignment, similar to the rise of DeFi Summer. Dovey Wan also stated that she is more bullish on ETH when "higher church" figures, even Vitalik himself, face public challenges.
Telegram CEO Accused of Providing "Cryptography" Services and Tools, May Be Detained Until August 28
French authorities issued a statement clarifying the reason for the arrest of Telegram CEO Pavel Durov. According to the Paris Judicial Court, Durov's arrest is part of a large-scale investigation into cybercrime, including charges of providing "cryptography" services and tools. Durov was arrested at Bourges Airport near Paris on August 24, 2024, and detained that evening. This arrest stems from a judicial investigation that began on July 8, 2024, initiated by the cybercrime division of the Paris Prosecutor's Office. The investigation involves multiple charges, including providing cryptography services without certified statements to ensure confidentiality, providing or importing cryptography tools without prior declaration, and other charges such as conspiring to "possess child pornography images" and "money laundering of organized crime proceeds." According to the statement, Durov may be detained until August 28, 2024. Several well-known figures in the cryptocurrency industry, including Elon Musk, Vitalik Buterin, Justin Sun, and Anatoly Yakovenko, have expressed support for Durov.
Data: Solana Network's Daily Transaction Fees Drop to $639,000, Reaching Multi-Month Low
According to The Block, as of August 26, 2024, Solana blockchain's daily transaction fees have dropped to $639,000, hitting a new low since early May 2024. This figure represents a 65% decrease from the peak of $1.83 million on August 8 and an 87% plunge from the historical high of $5.08 million on March 18. Ruslan Lienkha, Chief Marketing Officer of YouHodler, stated that the decrease in transaction fees is mainly influenced by the cooling of meme coin trading activity. Coingecko data shows that meme coins ranked in the top five on the Solana network have experienced double-digit declines over the past month. Meanwhile, the lock-up volume of some decentralized exchanges on Solana has also seen a significant decline.
Binance to Launch NULS and DOGS Perpetual Contracts, with Leverage of Up to 75 Times
Binance Futures announced the expansion of its trading options to enhance user experience. According to the announcement, Binance Futures will launch NULSUSDT perpetual contracts at 16:30 on August 26, 2024 (Beijing time), and DOGSUSDT perpetual contracts at 20:30 on the same day. Both of these new perpetual contracts support leverage of up to 75x.
Fractal Bitcoin Mainnet to Launch on September 9, 80% of Tokens to Be Allocated to the Community
Fractal Bitcoin announced that its mainnet will officially launch on September 9, 2024, and detailed the token allocation plan. According to the announcement, Fractal will allocate 80% of the tokens to the community and 20% to the team and contributors (with a lock-up period). The specific allocation is as follows: 50% for Proof of Work (PoW) mining, 15% for the ecosystem treasury, 5% for presale (with a 7-month lock-up period and linear release within 12 months), 5% for advisors, 10% for community grants, and 15% for core contributors. In addition, Fractal also announced several upcoming features: the brc-20 protocol will be activated at block height 21,000 on the mainnet; PizzaSwap (formerly Fractal Swap) will go live on the testnet this week; in terms of cross-chain bridges, they will test embedded mini-asset bridges and Bool Bridge; and they are collaborating with multiple wallet providers to expand support beyond the UniSat wallet. Fractal stated that they are making significant technical optimizations to support more Bitcoin protocols and the native Fractal protocol, attracting more applications to join their ecosystem.
Binance Labs Investment Director: Recently Increased Investment in the AI Field to Promote the Development of AI-Driven Decentralized Applications
According to Cointelegraph, Binance Labs Investment Director Max Coniglio revealed that the company recently invested in two decentralized AI ecosystem projects, Sahara AI and MyShell. Coniglio stated that the combination of AI and blockchain technology will drive open-source innovation, challenge traditional regulations, and create enormous wealth. Binance Labs' move aims to promote the development of AI-driven decentralized applications (DApps).
Today's Market Dynamics
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