- Popular CEX Cryptocurrencies
Top 10 CEX trading volumes and 24-hour price changes:
- BTC: +2.17%
- ETH: -0.4%
- DOGE: -3.05%
- SOL: +0.24%
- BNB: +0.67%
- FARM: +1.92%
- LAZIO: 14.15%
- JUV: 38.06%
- PORTO: 12.46%
- PEPE: -2.65%
24-hour price increase leaderboard (data source: OKX):
- ERN: 31.32%
- ZRO: 12.66%
- CITY: 11.1%
- PSTAKE: 9.93%
- LDO: 8.38%
- ACT: 8.03%
- SAHARA: 6.93%
- SWFTC: 5.41%
- AIX: 5.13%
- GOAT: 4.3%
- Top 5 On-chain Meme Coins (data source: GMGN):
- 4o
- RAY
- MSFT
- AGI
- 24-hour Trending Cryptocurrencies
BOSS (Ibiza Final Boss): An AI narrative, it is the flagship meme coin on the Solana chain, known for the phrase "Nightclub Muscle Man Becomes Dad," which has gone viral in the gaming community, attracting smart money.
Headlines
Probability of Federal Reserve Rate Cut in September is 90.7%
According to CME's "FedWatch": The probability of the Federal Reserve maintaining interest rates in September is 9.3%, while the probability of a 25 basis point rate cut is 90.7%. The probability of the Federal Reserve maintaining interest rates in October is 4.5%, with a cumulative probability of a 25 basis point cut at 48.9% and a 50 basis point cut at 46.5%.
Huajian Medical: Officially Launching Global Enhanced Ethereum Vault Strategy
Hong Kong-listed company Huajian Medical announced that the group has officially launched its latest strategic upgrade and elevation initiative - the "Global Enhanced Ethereum (ETH) Vault with Downside Protection Mechanism" strategy, approved by the board of directors.
SharpLink Allegedly Used All Previously Raised $200 Million to Purchase ETH
According to on-chain analyst Yu Jin's monitoring, 10 hours ago, a new wallet withdrew 52,809 ETH ($220 million) from Coinbase Prime and then distributed it to 8 wallets for Ethereum staking, one of which is a known address of SharpLink (SBET). SharpLink raised $200 million by selling stocks last Friday, so it is likely that they used these funds to buy ETH over the weekend. If correct, SharpLink (SBET) currently holds 621,000 ETH, worth $2.65 billion, with an average purchase price of approximately $3,226.
Industry News
Hong Kong Financial Secretary Xu Zhengyu stated on social media that Hong Kong insurance companies will invest in advanced technologies such as AI, big data, and blockchain to promote industry transformation, with AXA being one of the first insurance companies to return to Hong Kong.
Ethereum Developer Detained in Turkey for Alleged "Abuse" of Ethereum
Argentinian Ethereum developer "Fede's Intern" was detained by Turkish authorities in Izmir, accused of assisting others in "abusing" the Ethereum network. Following the incident, Fede's Intern revealed on social media that Turkish authorities claimed he helped others abuse Ethereum, but specific details remain unclear. Fede's Intern denies all charges, emphasizing that he and his team are merely "infrastructure builders" and expressing willingness to cooperate with authorities.
Turkish crypto commentator Cenk pointed out that detaining someone based solely on such vague accusations lacks legal basis. Turkey's current commercial, consumer, and criminal codes are typically used to handle crypto cases, so the legal validity of this incident remains in question.
Fede's Intern stated that the Turkish Interior Minister personally raised this accusation. Despite being detained, Fede's Intern continued to post updates on social media, stating that he has been moved to a private room and provided food, and plans to travel to Europe via private jet to continue working with his legal team to address the charges.
TRM Labs: Embargo Ransomware Gang Has Transferred Over $34 Million in Crypto Since April
The ransomware gang Embargo has transferred over $34 million in crypto assets related to ransom since April 2024, targeting U.S. hospitals and critical infrastructure, with individual ransom amounts reaching as high as $1.3 million. The gang is suspected to be operating under the renamed BlackCat (ALPHV) and currently holds approximately $18.8 million in unspent crypto assets, laundering funds through high-risk exchanges and sanctioned platforms.
White House AI and cryptocurrency director David Sacks expressed dissatisfaction on the X platform that several U.S. banks still prohibit wealth management platforms from accessing Bitcoin ETFs, stating: "Why are leading U.S. banks still banning or restricting access to Bitcoin ETFs on their wealth management platforms? Is this the last trace of 'de-banking'?"
According to data shared by David Sacks, several leading U.S. banks, including Bank of America, Morgan Stanley, JPMorgan, Citigroup, Goldman Sachs, and UBS Americas, have either fully or partially banned and restricted their wealth management platforms from accessing Bitcoin ETFs, with these platforms managing assets totaling $31 trillion.
Project News
LayerZero Foundation has proposed a $110 million acquisition of the Stargate cross-chain bridge and its STG token. According to the proposal terms, the STG token will be discontinued, and STG holders can exchange their tokens for LayerZero's native token ZRO at a rate of 1 STG for 0.08634 ZRO, equivalent to a value of $0.1675 per STG and $1.94 per ZRO. Stargate will be incorporated into the LayerZero Foundation, and its DAO will be dissolved.
The proposal states: "This proposal aims to accelerate the development of Stargate and LayerZero, providing resources for Stargate to implement an aggressive roadmap, expanding its privileges beyond bridging, while deeply connecting a strong revenue-generating protocol with the LayerZero ecosystem, allowing end consumers to engage more deeply with LayerZero."
DeFi protocol Stability DAO stated that approximately 20% to 30% of its Metavault funds were affected by the CrediX attack incident. Stability DAO is collaborating with Sonic Labs and other affected protocols, drafting a detailed report to track the team and attackers in an effort to recover funds. Additionally, the protocol is developing a compensation and recovery plan, expected to be implemented within two weeks. MetaVault is anticipated to reopen next week, with more details to be announced. It is reported that Stability DAO integrated with CrediX about a week ago, bringing additional revenue opportunities to the platform.
Synthetix founder Kain posted an image of sUSD price recovery on the X platform, stating: "(Price) is coming back. This period has been tough, but we are optimistic that it should fully restore by the end of the month, at which point the mainnet deposit activity will go live, ultimately getting us back on track." Previously, sUSD had de-pegged due to the introduction of a shared debt pool mechanism in Synthetix's SIP-420, dropping as low as $0.73.
1inch Team Investment Fund Realizes $8.36 Million Profit from Selling ETH and 1 INCH
According to on-chain analyst Yu Jin's monitoring, the 1inch team investment fund has sold part of its ETH and 1 INCH on-chain for profit. They sold 5,000 ETH at an average price of $4,215 for $21.07 million USDC and sold 6.45 million 1 INCH at an average price of $0.28 for $1.8 million USDC. This sale realized approximately $8.36 million in profit. The aforementioned ETH was purchased in February of this year, and 1 INCH was purchased in July.
Investment and Financing
Market News: WLFI Launches $1.5 Billion Cryptocurrency Investment Tool
Market news: Trump-associated cryptocurrency company World Liberty Financial has launched a $1.5 billion cryptocurrency investment tool.
HackQuest Completes $4.1 Million Financing, Led by Animoca Brands and Open Campus
HackQuest announced the completion of $4.1 million in financing, with this round led by Animoca Brands and Open Campus, and participation from Gate Ventures, HashKey Capital, Hash Global, Find Satoshi Labs (StepN), Outlier Ventures, Bytetrade Labs, and others. The funds will be used to expand its developer platform, which addresses the talent gap in Web 3 through education, on-chain credentials, and ecosystem support, currently attracting 90,000 developers from over 30 countries.
Thumzup Media Corporation, a Nasdaq-listed company with investments in cryptocurrency reserves by Donald Trump Jr., has officially launched a stock offering to raise funds. It will issue D-series non-voting convertible preferred shares at a par value of $0.001 per share, with proceeds intended for investment in cryptocurrency and mining equipment, working capital, and general corporate purposes. Dominari Securities LLC is acting as the exclusive placement agent for this issuance.
Decentralized AI Company AIxBlock Receives €1.5 Million Funding from the EU
Decentralized AI tech startup AIxBlock announced it has received €1.5 million in funding from the EU, along with two pre-approved additional grants of up to €61.5 million (currently under review). AIxBlock is a full-stack platform for end-to-end AI development and workflow automation, using decentralized GPU resources to train and deploy custom AI models, aimed at giving builders control over the infrastructure stack (vendor-agnostic) and making AI development automated, modular, and decentralized.
Regulatory Trends
El Salvador's New Law Allows Licensed Investment Banks to Engage in Cryptocurrency Business
Juan Carlos Reyes, chairman of El Salvador's Digital Assets Commission (CNAD), confirmed that El Salvador has passed the "Investment Banking Law," allowing licensed investment banks to hold digital assets such as Bitcoin and provide cryptocurrency services to qualified investors. The law stipulates that investment banks can apply for a digital asset service provider (PSAD) license and may even operate under a pure Bitcoin banking model. The government claims this move will help attract foreign investment and strengthen its position as a financial innovation hub, though critics argue that the current cryptocurrency policies favor institutions over the general public.
Due to the development of quantum computing, security issues related to the blockchain technology of cryptocurrencies like Bitcoin have escalated. Caixin has learned from various policy officials in mainland China that multiple meetings have been held since the end of June to discuss the development trends and response strategies for stablecoins and cryptocurrencies, indicating that research will continue, but public speculation about the stablecoin craze needs to cool down. Regulators are also closely monitoring the trends in stablecoins and related technology developments, maintaining caution regarding the issuance of RMB stablecoins.
Voices from the Industry
Wang Feng, founder of Blueport Interactive, stated on the X platform that the market sentiment for Bitcoin and Ethereum should not be viewed in isolation. Bitcoin is currently hovering around $120,000, with little volatility and no major sell-offs from key players. This provides room for Ethereum to maintain its upward momentum after breaking $4,000, predicting it will rise to at least around $5,000. Similarly, Ethereum and the entire cryptocurrency market are interconnected, and the autumn of cryptocurrencies is expected to begin, with DeFi, RWA, and popular meme coins entering a growth phase.
Stablecoin issuers like Circle and Tether are consuming more U.S. Treasury bonds than most countries, which could reshape the U.S. economy. Tether's latest disclosures show it holds over $100 billion in U.S. Treasury securities, surpassing countries like the UAE and Germany.
However, while cryptocurrency supporters argue that stablecoins will help solidify the dollar's dominance globally, critics warn that even a small share of stablecoins in the overall market could lead to financial instability in the banking sector, as stablecoins may siphon funds from bank deposits, which are necessary for lending liquidity, thus potentially threatening the credit system.
Glassnode: Significant Increase in First-Time ETH Buyers and Momentum Traders in Recent Days
Glassnode published an analysis on the X platform stating that in recent days, there has been a significant increase in the number of first-time ETH buyers and momentum traders, indicating new demand entering the market, while existing holders are also willing to increase their cost basis and re-engage.
Hong Kong has released an RWA industry white paper that establishes standards and frameworks for asset selection, while also debunking the market's claim that "everything can be RWA." Not all assets are suitable for RWA tokenization; assets that successfully achieve scalable implementation must meet three major thresholds: value stability, clear legal rights, and off-chain data verifiability. Currently, the main asset categories covered include: financial assets like gold, bonds, and funds; new energy assets like photovoltaics; real estate; intangible assets like carbon credits, data, and intellectual property; and computing power assets like GPU hardware.
In response to Harvard University and Brown University disclosing their holdings in BTC ETFs, Juan Leon, Bitwise's head of investment strategy, stated on the X platform that Ivy League schools in the U.S. are fully betting on BTC. The total endowment of Harvard and Brown exceeds $60 billion, and as these two universities increase their cryptocurrency allocations, it may lead to more capital inflows. Additionally, as leading U.S. academic institutions adopt cryptocurrencies, it sends a clear signal to other university endowment funds to follow suit with similar investment strategies.
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