Today's news tips:
BitMEX co-founder: A "big guy" fell and sold all crypto assets
Japanese stocks fell more than 4.5%, with the Topix and Nikkei 225 both falling more than 6%.
Bitcoin once fell below $49,000, and Ethereum once fell below $2,100
Five leading market makers have directly or indirectly transferred more than 130,000 ETH to CEX since August 3
Over the past 24 hours, the total contract liquidation of the entire network exceeded 1 billion US dollars
Sun Yuchen's 377,590 ETH holdings had a floating loss of $280 million, but he is suspected to have increased his holdings by 16,236 ETH this afternoon
Data: Ethereum DeFi protocol liquidation amount exceeds US$350 million today, setting a liquidation record
CoinShares: Digital asset investment products saw a net outflow of $528 million last week
Market News
Japanese stocks fell more than 4.5%, with the Topix and Nikkei 225 both falling more than 6%.
Market conditions show that the Japanese stock market continued to fall, with the Topix and Nikkei 225 both falling by more than 6%. The Topix triggered the circuit breaker mechanism. The Korean KOSPI index fell by more than 4%. In addition, the decline of US stock index futures widened, with the Nasdaq 100 index futures falling by 2%. Earlier, there was news that the United States told the Group of Seven that Iran may attack Israel in the next 24 hours.
Japan's Finance Minister: Stock prices are determined by the market and we are working closely with the Bank of Japan and the Financial Services Agency
Japanese Finance Minister Shunichi Suzuki made a speech, saying that the stock market has had a multi-faceted impact on the Japanese economy, that the Japanese economy itself has seen positive changes, that stock prices are determined by the market, that the economy is expected to gradually recover, and that he is working closely with the Bank of Japan and the Financial Services Agency. The level of the yen is determined by fundamentals, and stable currency fluctuations are desirable. He will not comment on whether the current yen level is too high, and cannot comment on whether the current foreign exchange reflects fundamentals.
Market News: OpenAI has an unreleased tool to detect cheating in ChatGPT
According to Jinshi, the Wall Street Journal revealed that OpenAI has an unreleased tool that can detect cheating using ChatGPT.
U.S. stock volatility index hits highest level since 2020 as recession concerns intensify
According to Jinshi, the VIX index, an indicator of U.S. stock volatility, rose 79% at one point, the largest increase since February 2018, and hit its highest intraday level in four years, as concerns about a U.S. recession intensified and global stock markets fell. The VIX index broke through the 40 mark earlier on Monday and is currently at 37, the highest level since October 2020. S&P 500 futures fell 3.3% at one point, and the decline has now narrowed to 2.3%, indicating that the index is set to fall for the third consecutive day.
Project News
JupiterDAO's proposal to destroy 30% of JUP token supply has been voted in
According to the governance page, JupiterDAO has voted to destroy 30% of the JUP token supply, reducing the JUP token supply from 10 billion to 7 billion.
BitMEX co-founder: A "big guy" fell and sold all crypto assets
According to Arthur Hayes’ tweet, sources in the traditional financial circle said that a certain large investor was selling all cryptocurrencies, but the details were not clear. Hayes did not reveal the specific name, but reminded everyone to pay attention to relevant developments.
At present, most of the community speculates that it refers to Jump Crypto. It was previously reported that JumpTrading may be selling ETH and recently redeemed $410 million of wstETH in batches and transferred it to CEX. JumpTrading transferred 17,576 ETH to CEX in the past 24 hours, with a total value of approximately $46.78 million. According to Scopescan monitoring, Jump's current positions are dominated by USDC and USDT.
It was previously reported in June that people familiar with the matter said that the US CFTC was investigating JumpCrypto. JumpCrypto President Kanav Kariya announced his resignation.
Justin Sun says rumors of his holdings being liquidated are false
Sun Yuchen tweeted that the rumors about his positions being liquidated were false. He emphasized that the team rarely participates in leveraged trading strategies because they believe that such transactions are of little benefit to the industry. They prefer to engage in activities that are more supportive of the industry and entrepreneurs, such as staking, running nodes, participating in projects, helping project teams provide liquidity, and providing total locked volume (TVL) services.
Matr1x: 200 million MAX tokens destroyed, accounting for 20% of the total supply
According to Matr1x's official Twitter account, Web3 game distribution infrastructure Matr1x has destroyed 200 million MAX tokens, accounting for 20% of the total supply, of which 50 million came from the team and investors, 80 million from the community, and 70 million from platform contributions.
Binance CEO: Recent sharp declines in the cryptocurrency and stock markets do not represent a long-term negative trend
Richard Teng, CEO of Binance, said on the X platform: "The recent sharp drop in cryptocurrency and stock prices is affected by macroeconomic factors. We do not believe this is a sign of a long-term negative trend. With the potential interest rate cuts by the Federal Reserve and geopolitical turmoil, the possibility of market volatility remains high. Remind everyone to always do your own research and stay informed, and continue to build."
Important data
Multiple ETH whale addresses using leverage were liquidated
According to on-chain analyst Embers, ETH fell sharply this morning, causing some ETH whales using leverage to be liquidated, further pushing the ETH price down by more than 20%.
Some of the liquidations are as follows:
0x1111567e0954e74f6ba7c4732d534e75b81dc42e was liquidated for 6,559 ETH to repay 277.9 WBTC loans; 0x4196c40de33062ce03070f058922baa99b28157b was liquidated for 2,965 ETH to repay 7.2 million USDT loans; 0x790c9422839fd93a3a4e31e531f96cc87f397c00 was liquidated for 2,771 ETH to repay 6.06 million USDC loans; 0x5de64f9503064344db3202d95ceb73c420dccd57 was liquidated for 2,358 ETH to repay 5.17 million USDC loan.
BTC rebounds after falling to $49,000
OKX market data shows that BTC fell below $49,000 at noon today and then began to rebound, with the largest intraday decline exceeding 16%. As of 19:24, the price of Bitcoin was $51,622.1, a daily decline of 12.66%.
In addition, the price of Ethereum fell below $2,100 this morning, reaching $2,084.69 at one point. As of 19:24, the price of Ethereum was $2,263.49, a 19.94% drop on the day.
Over the past 24 hours, the total contract liquidation of the entire network exceeded 1 billion US dollars
According to Coinglass data, the total liquidation of cryptocurrency contracts in the past 24 hours was $1.029 billion, of which $894 million was for long positions and $136 million was for short positions. The total liquidation amount of BTC was $347 million and the total liquidation amount of ETH was $340 million.
Tether's Euro stablecoin EURT net circulation is nearly 30 million euros, and USDT net circulation exceeds 114.5 billion US dollars
According to information on Tether's transparency page, as of now, the net circulation of Tether's euro stablecoin EURT has reached 29,141,478.77 euros, and the net circulation of USDT has reached 114,527,666,301.35 US dollars.
Data: Tokens worth more than $65 million will be unlocked this week, of which IMX unlocks about $41.6 million
Token Unlocks data shows that this week, IMX, XAI, MODE, ENA and other tokens are expected to unlock a large amount, with a total release value of more than 65 million US dollars. Among them:
Mode (MODE) will unlock approximately 185.3 million tokens at 6:59 pm Beijing time on August 5, accounting for 14.25% of the current circulation, with a value of approximately US$3.7 million;
Heroes of Mavia (MAVIA) will unlock approximately 1.15 million tokens at 8:00 am Beijing time on August 6, accounting for 3.64% of the current circulation, with a value of approximately US$1.75 million;
Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 am Beijing time on August 7, accounting for 3.11% of the current circulation, with a value of approximately US$2.2 million;
dydx (DYDX) will unlock approximately 1.55 million tokens at 0:00 Beijing time on August 7, accounting for 0.68% of the current circulation, with a value of approximately US$1.7 million;
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on August 9, accounting for 2.11% of the current circulation, with a value of approximately US$41.6 million;
Xai (XAI) will unlock approximately 35.88 million tokens at 5:30 pm Beijing time on August 9, accounting for 6.9% of the current circulation and worth approximately US$9.2 million;
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 pm Beijing time on August 11, accounting for 0.82% of the current circulation, with a value of approximately US$5.2 million;
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 am Beijing time on August 11, accounting for 0.34% of the current circulation, with a value of approximately US$540,000.
Forta (FORT) will unlock approximately 50,000 tokens at 8:00 a.m. Beijing time on August 11, accounting for 0.01% of the current circulation and worth approximately US$7,500.
GSR deposits $9.5 million in USDT to multiple CEXs
On-chain data shows that GSR has just deposited $9.5 million in USDT into multiple centralized exchanges (CEX).
Jump Trading transferred 17,576 ETH to CEX in the past 24 hours, with a total value of approximately US$46.78 million
According to Spot On Chain monitoring, Jump Trading has transferred another 17,576 ETH from its existing Ethereum holdings to centralized exchanges in the past 24 hours, with a total value of approximately $46.78 million. The company's wallet still has 37,600 wstETH (worth approximately $101 million) and 11,500 STETH (worth approximately $26.3 million), which are currently in the process of unstaking at Lido Finance.
The suspected Justin Sun address withdrew 100 million USDT from Aave and recharged it into HTX through the transit address
On-chain data shows that the address 0x205…Ac621 suspected to be Justin Sun withdrew 100 million USDT from Aave 20 minutes ago and recharged it into HTX through a transfer address. Currently, the address still holds 25.14 million USDT and 22,464 ETH, with a total value of approximately US$77.04 million.
Data: Ethereum DeFi protocol liquidation amount exceeds US$350 million today, setting a liquidation record
According to Parsec Finance data, Ethereum set a liquidation record in one day, with liquidations in DeFi protocols exceeding US$350 million.
CoinShares: Digital asset investment products saw a net outflow of $528 million last week
According to the latest weekly data from CoinShares, digital asset investment products saw their first outflow of funds in 4 weeks, totaling $528 million. This was mainly due to the reaction to the US recession, geopolitical concerns and the general market liquidation. Bitcoin outflows totaled $400 million, the first outflow after 5 weeks of inflows. Ethereum outflows totaled $146 million, bringing the total net outflow since the launch of the US ETF to $430 million. Blockchain stocks continued to see outflows, with outflows of $18 million last week, consistent with outflows from technology-related ETFs.
Last week, the total volume of ETP transactions was $14.8 billion, accounting for 25% of the total market, which is below average. Friday's price correction caused the total assets under management of ETPs to decrease by $10 billion. From a regional perspective, the main outflows were concentrated in the United States, reaching $531 million, while Germany and Hong Kong had outflows of $12 million and $27 million respectively. Canada and Switzerland had inflows of $17 million and $28 million respectively.
Sun Yuchen's 377,590 ETH holdings currently have a floating loss of $280 million
According to Spot On Chain, Sun Yuchen lost $280 million due to a drop of more than 20% in ETH. Since February 8, 2024, he has accumulated 377,590 ETH through 3 wallets (estimated cost: $1.15 billion). But now ETH is trading well below his average purchase price of $3,051. However, Sun Yuchen has not been liquidated yet.
Later news came out that a new address suspected to belong to Justin Sun used 37 million USDT to buy 16,236 ETH in nearly 3 hours.
25 addresses liquidated a total of $150 million in assets during the ETH crash
According to Lookonchain monitoring, during the ETH crash, there was a crazy liquidation. A total of 63,732 ETH (about 150 million US dollars) were liquidated from 25 addresses. Among them, 0x99e8...ddc3 lost 9,834 ETH (23.16 million US dollars) during the liquidation process.
Five leading market makers have directly or indirectly transferred more than 130,000 ETH to CEX since August 3
According to 0xscope monitoring, the five leading market makers have directly or indirectly transferred more than 130,000 ETH to CEX since August 3. Among them, Wintermute deposited 47,088 ETH directly into CEX on the mainnet, and sent 2,691 ETH to CEX through other addresses; Jump Trading deposited 36,461.51 ETH directly into CEX on the mainnet, and sent 28,000 ETH to CEX through other addresses; Flow Traders deposited 3,620 ETH directly into CEX on the mainnet, and sent 1,900 ETH to CEX through other addresses; GSR Markets deposited 292.1 ETH directly into CEX on the mainnet, and transferred 233.63 ETH to other addresses (partial or already transferred to CEX, not specified); Amber Group deposited 65.4739 ETH directly into CEX on the mainnet, and sent 12,810 ETH to CEX through other addresses.
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