● Crypto activity rebounds: DeFi, bridge volumes and stablecoin supply hit record highs
According to Odaily Planet Daily, according to Artemis data shared by on-chain analyst Peter Schroeder on X, cryptocurrency activity has picked up in the past week. DeFi transaction volume hit a high since March 2023 on August 5, which was also the fourth most active day in the DeFi field in the past three years.
Bridge transaction volume also hit its highest single-day record since March 2023; Circle’s CCTP dominated, accounting for 35% of bridge activity.
Perpetual contract trading volume reached its highest level since March 2023, and was also its third highest trading day in the past year.
The number of stablecoin transfers hit an all-time high on August 5; the stablecoin supply reached its highest level since January 2022, currently at US$165.33 billion, with USDT accounting for 69.82%.
● Grayscale ETHE has its first zero outflow day
According to Odaily Planet Daily, Trader T monitoring shows that Grayscale ETHE had no capital outflow yesterday, which is the first zero outflow day since its launch. It has a net outflow of 27.1% in 13 trading days. It is expected to have a net outflow of 50% within 71 days (until October 28).
According to Odaily Planet Daily, Bloomberg ETF analyst Eric Balchunas wrote on the X platform, "After the dust settled on the decline of Bitcoin in the past two weeks (although the price has rebounded), the total inflow of Bitcoin spot ETFs from the beginning of the year to date has reached US$19 billion, a record high, which is still unexpectedly strong after taking all factors into consideration. This number is the most important indicator of success because it includes net price changes and GBTC unlocking."
According to BlockBeats, on August 12, QCP Capital said that despite the strong price recovery, BTC is still struggling to stay above $60,000. The skewness of BTC put options has recovered from -25% during the panic to -5%, but the market remains cautious in the short term, and the skewness continues into September. After the first two sharp pullbacks this year, BTC rebounded to above $70,000 in less than a month. As BlackRock (ETF) continues to achieve positive inflows, US investors are expected to continue to provide liquidity and support. Macro factors remain key to the crypto market. Pay attention to Elon Musk's interview with Trump tonight and the US Consumer Price Index (CPI) released on Wednesday.
● CoinShares: Digital asset investment products inflows of $176 million last week
According to Odaily Planet Daily, according to CoinShares' latest weekly report, the total inflow of digital asset investment products last week reached $176 million. ETP trading activity is much higher than usual, at $19 billion this week, while the average weekly trading volume so far this year is $14 billion. Ethereum attracted $155 million in inflows last week. This brings its year-to-date inflows to $862 million, the highest level since 2021, mainly due to the recently launched US spot ETF.
Bitcoin saw outflows at the start of the week, but saw significant inflows in the last few days, bringing the total inflows for the week to $13 million. Short Bitcoin ETPs saw their largest outflows since May 2023, totaling $16 million (23% of assets under management), bringing assets under management for short positions to their lowest level since the beginning of the year, indicating a large number of investors exiting.
● Thailand launches regulatory sandbox program for cryptocurrency companies
According to BlockBeats, the Thai Securities and Exchange Commission (SEC) said that the country has launched a regulatory sandbox program for cryptocurrency companies. The sandbox aims to promote experimentation and support innovative development in the efficient provision of digital asset services. The regulatory sandbox is open to six types of participants, including digital asset trading platforms, brokers, dealers, fund managers, consultants and custodial wallet providers. Participants must pass the Thai SEC's assessment of capital adequacy, work systems and management structures before entering the sandbox.
Thai authorities took several measures to support the development of cryptocurrencies earlier this year. The Ministry of Finance extended the VAT exemption for cryptocurrency transactions in February, and the SEC relaxed regulations in March to allow professional investors to invest in U.S. spot Bitcoin ETFs. The launch of the regulatory sandbox shows that Thailand is trying to find a balance between strengthening regulation and promoting innovation.
● Musk: It seems that he encountered a large-scale DDOS attack during the live broadcast with Trump
According to BlockBeats, on August 13, Musk posted that Twitter was experiencing a large-scale DDOS attack. We are working hard to solve it. If the situation is the worst, we will reduce the number of real-time listeners and publish the conversation content later.
