Today's Hot 9.7
1. Market Dynamics
- BTC fell below 53,000 USDT this morning, and ETH fell below 2,200 USDT
- Options data show more bearishness in the short term, and market uncertainty will ease at the end of September
- The number of non-farm payrolls in the United States increased by 142,000 in August, lower than expected
- Alternative data shows that the crypto market panic and greed index fell to 22 (29 yesterday), and market sentiment is currently in "extreme fear".
- Grayscale GBTC had a net outflow of US$52.9 million yesterday, and ETHE had a net outflow of US$10.7 million
- Binance Research reported that the total market value of the global cryptocurrency market fell by 13.1% in August 2024, mainly due to global macroeconomic concerns and weak US unemployment data.
2. Projects and Protocols
- SNAXchain was initially used only for on-chain governance, and more features are expected to be launched in Q4
Synthetix core contributors mentioned that SNAXchain was only used for on-chain governance in the initial stage, and more features are expected to be launched in Q4.
- Modular zkEVM Layer2 network Prom will launch testnet V2 on September 9
- Base head: 3 current or potential members of Congress have been invited to accept on-chain donations on Base this week
3. Industry dynamics
- WisdomTree withdraws the Ethereum Trust S-1 registration document submitted to the US SEC
- Blur founder: The on-chain ecology has improved significantly compared to the bear market in 2019, and leading projects are often born in a bear market
- Elon Musk releases AI-synthesized facial portrait of "Black Myth: Wukong"
4. Investment and financing
- Grayscale GBTC had a net outflow of US$52.9 million yesterday, and ETHE had a net outflow of US$10.7 million
- Fidelity FBTC had a net outflow of US$85.5 million yesterday, and Bitwise BITB had a net outflow of US$14.3 million
- Asset management company VanEck closes its Ethereum futures ETF
Due to insufficient demand, VanEck announced the closure of the Ethereum futures ETF for reasons including performance, liquidity, assets under management, and investor interest. The emergence of spot ETFs has dominated the inflow of funds.
- Barclays upgrades Coinbase and Robinhood to equal weight to hold
