DeFi Data
1. Total market value of DeFi tokens: $68.575 billion
DeFi total market value Data source: coingecko
2. The transaction volume of decentralized exchanges in the past 24 hours was US$3.408 billion
The transaction volume of decentralized exchanges in the past 24 hours. Data source: coingecko
3. Assets locked in DeFi: $84.026 billion
The top ten rankings of DeFi projects with locked assets and locked-in amounts. Data source: defillama
NFT Data
1. Total NFT market value: $22.709 billion
NFT total market value, top ten projects by market value Data source: Coinmarketcap
2. 24-hour NFT trading volume: $1.572 billion
NFT total market value, top ten projects by market value Data source: Coinmarketcap
3. Top NFTs in 24 hours
Top 10 NFTs with the highest sales growth in 24 hours Data source: NFTGO
Headlines
Dubai Court Recognizes Cryptocurrency as Valid Method of Salary Payment
The UAE has seen a significant update in its judicial approach to cryptocurrencies, with the Dubai Court of First Instance recognizing that wages paid in cryptocurrency are valid under employment contracts. Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in Case No. 1739 of 2024 represents a departure from the court’s earlier position in 2023, when a similar claim was dismissed because the cryptocurrency involved lacked an accurate valuation. Heaver believes that this demonstrates a “progressive approach” to integrating digital currencies into the country’s legal and economic framework. The case Heaver recently mentioned involved an employee who filed a lawsuit against his employer for failing to pay his wages, illegal dismissal compensation, and other benefits. What was special about the case was that the employee’s employment contract included not only a traditional fiat currency salary, but also stipulated that 5,250 EcoWatt tokens should be paid monthly as part of his salary. The core of the dispute was that the employer failed to pay the EcoWatt token portion of the salary in accordance with the contract within six months. In 2023, the court recognized the validity of the EcoWatt token in this contract for the first time, but because the employee failed to provide a clear method to convert the tokens into fiat currency, the court did not force the employer to pay in cryptocurrency. However, in 2024, the court "took an important step" on this issue. It ruled in favor of employees, explicitly requiring employers to pay wages directly in cryptocurrency as agreed in the employment contract without converting them into fiat currency. Heaver said that this ruling not only reflects the court's growing acceptance of cryptocurrency in employment contracts, but also emphasizes the court's recognition of the transformative nature of financial transactions in the Web3 economy.
NFT Hot Spots
1. Trump made more than $7 million from NFTs
Golden Finance reported that according to personal financial disclosures obtained by the ethics watchdog "Citizen Morality", Trump declared holdings worth $1 million to $5 million in Ethereum-based crypto assets. In addition, Trump revealed that he earned more than $7.15 million from three NFT collections, including the "Mugshot" project for criminal prosecution and two separate Donald Trump trading card series collections.
DeFi Hotspot
1. Ethereum’s key support area is between $2,300 and $2,380
Golden Finance reported that according to Into TheBlock data, about 1.62 million addresses purchased more than 50 million ETH between US$2,300 and US$2,380. Therefore, if Ethereum continues to decline, the price of the currency will have key support in the above price range.
2. Worldcoin cooperates with MIMOS in Malaysia
Golden Finance reported that Malaysia’s official applied research and development agency MIMOS Berhad has signed a memorandum of understanding with the Worldcoin Foundation, Tools for Humanity (TFH) and e-government service provider MyEG to integrate Worldcoin technology into the country’s digital infrastructure. As part of the MOU, Worldcoin’s new operations in Malaysia will provide individuals with the opportunity to use the state-of-the-art iris imaging technology developed by TFH for the Worldcoin project for human identity verification.
3. TON network currently has 649.9 million TON staked
Golden Finance reported that according to tonscan data information, the TON network currently has a total of 649.9 million TONs staked. In addition, the current stake APY is 3.3%, and the network has a total of 387 verification nodes.
4. EtherFi, Renzo, and AltLayer have sold about a third of their $5 million airdropped tokens
Golden Finance reported that according to Lookonchain monitoring, EtherFi, Renzo and AltLayer had previously airdropped tokens worth about $5 million to EigenLabs employees. EtherFi airdropped 10,491 ETHFI to 44 addresses each, totaling 461,600 ETHFI (peak price of $3.69 million), of which 31.2% of ETHFI has been sold. AltLayer airdropped 46,512 ALT to 37 addresses each, totaling 1.72 million ALT (peak price of $1.16 million), of which 32.4% of ALT has been sold. Renzo airdropped 66,667 REZ to 27 addresses each, totaling 1.8 million REZ (peak price of $500,000), of which 33.6% of REZ has been sold.
5.LI.FI integrates cross-chain transaction protocol THORChain
Golden Finance reported that the cross-chain bridge protocol LI.FI integrated the decentralized cross-chain transaction protocol THOR Chain to achieve seamless exchange of Bitcoin on the EVM chain. In addition, THOR Chain has been added to the cross-chain supported by LI.FI and provides users with the best rates for token exchange and cross-chain transfers. LI.FI also plans to expand support for Bitcoin L2 solutions.
6. Symbiotic will launch its mainnet in September, and 14 networks including Frax and EtherFi will join the shared security framework
On August 16, Symbiotic, a provider of re-staking infrastructure, announced that the first 14 networks have joined its shared security framework ecosystem, including Frax, EtherFi, RedStone, Arrakis, Stride, Capx, Primev, Router, Pragma, Hinkal, Inference Labs, Ditto, RollChains and Leaf. These projects will use Symbiotic's technology to enhance the security and decentralization of their respective fields, covering DeFi, oracles, cross-chain bridging, AI resource matching, MEV optimization, privacy solutions and many other aspects. In addition, Symbiotic plans to launch the mainnet in September, and the addition of this partner shows the market's recognition of its shared security solutions. Earlier news, the re-staking agreement Symbiotic completed a $5.8 million seed round of financing, led by Paradigm and CyberFund.
Game Hotspot
1. Web3 gaming platform GAMEE completes a new round of financing, with TON Ventures participating
Golden Finance reported that GAMEE, a Web3 gaming platform and subsidiary of Animoca Brands, has announced the completion of a new round of financing, with TON Ventures participating. The new funds will support GAMEE's WAT Coin ecosystem (including the WatBird Mini App project). It is reported that GAMEE will further integrate TON-based digital assets (such as TON-supported tokens and NFTs) into GAMEE's Telegram Mini App to enhance user engagement.
2. Epic Games: Expected to have 100 million users by the end of the year
Golden Finance reported that according to market sources, Epic Games launched an iOS store in Europe and an Android store globally. Epic Games expects to have 100 million users by the end of the year. iOS users outside the EU will not be able to access the store.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
