24H Hot Cryptocurrencies and News | China National Petroleum may explore stablecoin cross-border settlement; CRO on-chain trading volume surges by 40% (0828)

CN
11 hours ago
  1. Popular CEX Cryptocurrencies

CEX Trading Volume Top 10 and 24-Hour Price Change:

  1. BNB -0.70%
  2. BTC +0.17%
  3. ETH -1.38%
  4. SOL +3.90%
  5. DOGE +0.69%
  6. XRP -0.64%
  7. PEPE -0.39%
  8. RLC +42.26%
  9. ADA -1.16%
  10. LINK -2.35%

24-Hour Price Increase Rankings (Data Source: OKX):

  1. CRO +67.06%

  2. LPT +33.98%

  3. NMR +10.19%

  4. UMA +9.97%

  5. JTO +9.92%

  6. LRC +7.89%

  7. PHA +7.68%

  8. JUP +7.59%

  9. MOVR +7.07%

  10. KNC +6.88%

  11. 24-Hour Trending Cryptocurrencies

  • CRO: Cronos is the native token of Crypto.com and serves as the core functional currency of its flagship public chain, Cronos Chain. It is widely used for platform trading discounts, payments, DeFi, and GameFi applications, as well as a reward and payment tool on the Truth Social platform. In the past 24 hours, CRO has seen a significant surge, primarily driven by the Trump Media Group's collaboration with Crypto.com to create a digital asset treasury strategy worth $6.4 billion, which will integrate CRO into the Truth Social platform and support the wallet ecosystem. As a result, CRO skyrocketed by approximately 40%, with trading volume exceeding $1 billion and a notable increase in the number of active addresses on the chain.
  • NMR: Numeraire is an ERC-20 governance token initiated by Numerai, embedded in the AI and data science-focused prediction platform Erasure Protocol. It is mainly used for staking, model staking, and reward mechanisms, where accurate models receive NMR rewards, while incorrect ones lose their staked tokens. In the last 24 hours, NMR experienced a dramatic surge: some sources indicate a price increase of over 140% to an intraday high of $19.55, driven by reports that JPMorgan has injected around $500 million into Numerai, significantly boosting market confidence.

Headlines

China National Petroleum: Exploring the Possibility of Stablecoin Cross-Border Settlement

Wang Hua, Chief Financial Officer of China National Petroleum (00857), stated at the half-year performance press conference that the company is closely monitoring the Hong Kong Monetary Authority's plans to issue licenses to stablecoin issuers and is studying the possibility of using stablecoins for cross-border settlement and payments.

Cronos (CRO) On-Chain Trading Volume Surged 30% in the Past 24 Hours

According to data from cronoscan, following the recent announcement of the CRO strategy by Trump Media Technology Group, CRO reached a new high price not seen in nearly three years. Its on-chain activity on the Cronos chain also increased, with 386,767 transactions recorded in the past 24 hours, a surge of 29.53%; total transaction fees reached 24,325 CRO, an increase of 31.26%; and the average transaction fee was 0.0164 CRO, up 31.73%.

Industry News

White House Economic Advisor: Suggests Fed Governor Cook Take Temporary Leave During Lawsuit

Kevin Hassett, Director of the White House National Economic Council, stated on Wednesday that Lisa Cook should take a leave of absence during the lawsuit regarding her position on the Federal Reserve Board. Hassett told reporters, "If I were in her position, I would take a leave right now." He added that he believes this is "the decent thing to do." Hassett stated that he believes the president has the authority to dismiss Cook: "The president absolutely has the right to dismiss a Federal Reserve governor for just cause, and I believe these allegations are serious." Trump sent a letter to Cook on Monday stating that he had "immediately dismissed" her, citing allegations from his White House allies that she improperly claimed two properties as primary residences in two mortgage applications. Trump had previously considered nominating Hassett for the next Federal Reserve chair.

Valour Launches 8 ETPs Including ONDO, CRO, SHIB on Sweden's Spotlight Stock Market

Valour, a subsidiary of Nasdaq-listed DeFi Technologies, announced the launch of eight cryptocurrency exchange-traded products (ETPs) priced in Swedish Krona on Sweden's Spotlight Stock Market, including tokens such as Shiba Inu (SHIB), Pi (PI), Ondo (ONDO), Cronos (CRO), Mantle (MNT), VeChain (VET), Ethena (ENA), and Celestia (TIA).

Project News

MANTRA Announces First Round of $25 Million Strategic Buyback of OM Tokens

MANTRA announced on the X platform that it will conduct the first round of a $25 million strategic buyback of OM tokens, supported by major investors and stakeholders. Including a previous $20 million investment from Inveniam, the total committed funds reach $45 million. The buyback plan will be executed by MANTRA AG, with transparent buybacks conducted at near-market prices through multiple centralized exchanges over the coming months. The repurchased OM tokens will be withdrawn from exchanges as ERC 20 tokens, then migrated to the MANTRA mainnet and staked to validator nodes.

Nasdaq-Listed KindlyMD Plans to Issue $5 Billion in Stock to Expand Bitcoin Treasury Business

Nasdaq-listed medical services company KindlyMD announced on Tuesday that it has submitted a suspended registration statement to issue up to $5 billion in stock on the market. The company stated that it plans to use the net proceeds for general corporate purposes, including expanding its Bitcoin treasury. According to the company's press release, the plan allows the company to issue and sell up to $5 billion in common stock through various sales agents, including TD Securities, Cantor Fitzgerald, and B. Riley Securities.

Investment and Financing

New Prediction Platform The Clearing Founded by Former Polymarket and Kalshi Employees Raises $15 Million, Led by USV

The Clearing Company, a prediction market platform founded by former Polymarket and Kalshi employees, announced the completion of a $15 million seed round of financing, led by Union Square Ventures, with participation from Haun Ventures, Variant, Coinbase Ventures, Compound, and others. The Clearing Company will compete with market leaders Polymarket and Kalshi. According to the company's website, Toni Gemayel, who previously served as the growth director at Polymarket and Kalshi, will be the CEO of The Clearing Company. Other employees of this startup also include individuals who have worked at Polymarket.

Singapore Blockchain Technology Company GrowHub Plans to Raise $15 Million in IPO on Nasdaq

Singapore blockchain technology company THE GROWHUB LIMITED (GrowHub) announced plans to launch an initial public offering (IPO) on Nasdaq, issuing a total of 3,750,000 Class A common shares, priced at $4.00 per share, to raise a total of $15 million. This IPO is set to debut on Nasdaq on August 28, with the stock code "TGHL." It is reported that the blockchain technology platform built by the company is primarily used to verify the authenticity and traceability of products in the supply chain.

Centrifuge, a Tokenization Platform, Receives Investment from Republic Digital

Republic's Republic Digital announced an investment in the asset tokenization platform Centrifuge to further enhance its digital asset and tokenization strategy. Republic is the world's largest online capital formation platform, with assets under management exceeding $165 million. Centrifuge focuses on the tokenization of financial products and has tokenized over 1,700 assets to date, raising $1.15 billion. Republic did not disclose the amount of this investment but stated that this move reflects its commitment to RWA becoming "the foundation of the next generation financial system."

Voices

CZ: Non-Financial RWA May Face Liquidity Issues, Stock Tokenization is Inevitable

Binance founder CZ stated at an event at the University of Hong Kong that RWA is not as easy as imagined, especially non-financial RWA assets that may face liquidity issues if they are not highly tradable. RWA refers to the tokenization of real-world assets, which has recently become a hot topic in the Hong Kong financial market.

Tom Lee: ETH Will Rise to $5,500 in the Coming Weeks, Reaching $10,000 to $12,000 by Year-End

BitMine Chairman Tom Lee stated in an interview with Amit during a live broadcast that Ethereum will rise to $5,500 in the coming weeks and reach between $10,000 and $12,000 by the end of the year. Previously, Tom Lee mentioned in an exclusive interview that Ethereum is becoming the preferred blockchain platform for Wall Street institutions, and its native token ETH is currently severely undervalued. He predicts that ETH will break through $4,000 in the short term and is expected to reach a range of $10,000 to $15,000 by the end of the year.

Former Governor of the People's Bank of China: The Development of Stablecoins Requires Multi-Dimensional Balance and Regulation

According to a report from the Financial Forty Forum, former Governor of the People's Bank of China Zhou Xiaochuan recently expressed his views, comprehensively examining the development prospects and potential risks of stablecoins from six major dimensions. He pointed out that stablecoins could lead to excessive currency issuance and high leverage amplification risks, with their amplification effects manifested through lending, collateral financing, and asset market trading channels. Zhou Xiaochuan questioned the actual demand for decentralization and tokenization, believing that the existing centralized account systems perform well. He emphasized the need to prevent price manipulation in the stablecoin market and that commercial institutions issuing stablecoins should balance profit motives with the spirit of public service, noting that the attractiveness of cross-border payment application scenarios is limited. Zhou Xiaochuan called for a multi-dimensional analysis of the development path of stablecoins to avoid one-sided thinking and the use of concepts that lack rigor.

Former Federal Reserve Economist: Trump's Influence Will Last for a Decade, the Fed Should Avoid "Going to War"

Former Federal Reserve economist and founder of the "Sahm Rule" Claudia Sahm wrote that Trump's attempt to remove Federal Reserve Governor Cook openly escalates the long-standing pressure the current administration has placed on the Fed and is a direct attack on the Fed's independence. Cook's term will expire in 2038, and Trump should not have any influence over her position. However, he is attempting to reshape the Federal Open Market Committee, and this influence will not be limited to the present but will extend into the next decade. If Powell continues to serve as a governor, he will send a message to the White House that its pressure tactics will come at a cost: he will become the "shadow Fed chair" that the White House wants to avoid. The Federal Reserve should not "go to war" with the White House, as it cannot win, and should avoid conflicts with elected officials regardless.

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