1.Bitwise Chief Investment Officer: From 312 to 805 BTC, will it repeat the 2020-2021 script?
The cryptocurrency market has sold off sharply this week. From 4 p.m. Friday to 7 a.m. Monday, Bitcoin fell nearly 20%, from $63,356 to $51,026. Ethereum performed even worse, falling from $3,307 to $2,234, a drop of more than 30%. Click to read
2. The evolution of modular narrative: modular transformation of DeFi lending
The concept of modular blockchain originated from two white papers. In 2018, Mustafa Albasan and Vitalik Buterin co-authored the paper "Data Availability Sampling and Fraud Proofs", which proposed a system that allows light clients to receive and verify full-node fraud proofs, and designed a data availability sampling protocol to reduce the trade-off between on-chain capacity and security, solving the blockchain scalability problem without compromising security and decentralization. Click to read
3. The underlying reasons why the Bank of Japan’s interest rate hike triggered global market turmoil
The core reason for the sharp pullback of risk assets, led by US technology stocks, is that the Bank of Japan has raised interest rates sharply, causing many paths of yen carry trading to fail or face greater risks, specifically in terms of exchange rate fluctuations, interest rate reversals, and liquidity risks. Click to read
4. Bitcoin fell below $50,000, and 210,000 people were liquidated
A number of virtual currencies experienced another cliff-like plunge. On August 5, a Beijing Business Daily reporter noticed that Bitcoin once again fell below $50,000, a 15% drop in the day. As of 21:20 Beijing time, the latest price of Bitcoin was $49,835.5. Click to read
5. Is Bitcoin still a store of value?
On days like these, it’s easy to scoff at Bitcoin (BTC) — specifically, at the idea that the original cryptocurrency is a store of value, the digital equivalent of gold.
