Ethereum rebounded above $3,200 this morning
According to BlockBeats, on August 2, according to HTX market data, Ethereum rebounded above $3,200 this morning and is currently quoted at $3,211.50, with the 24-hour decline narrowed to 0.75%.
Bitcoin rebounds above $65,000 this morning
According to BlockBeats, on August 2, according to HTX market data, Bitcoin rebounded above $65,000 this morning and is currently quoted at $65,377, a 24-hour increase of 1.09%.
Solana DEX transaction volume surpassed Ethereum in July for the first time in history
According to BlockBeats, on August 1, according to Defillama data, the DEX transaction volume on Solana reached US$55.876 billion in July, while the Ethereum DEX transaction volume was US$53.867 billion in the same period.
The monthly transaction volume of DEX on Solana surpassed that of Ethereum for the first time in history.
SOL fell nearly 10% in 24 hours, temporarily reported at $163.08
According to BlockBeats, on August 1, according to HTX market data, SOL fell below $165 and is currently quoted at $163.08, with a 24-hour drop of 9.87%.
Memecoins fell across the board, with WIF falling more than 16% in 24 hours
According to BlockBeats, on August 1, according to HTX data, affected by the downward trend of the market, the meme coin sector fell across the board, including:
WIF fell more than 16% in 24 hours;
SATS fell more than 13% in 24 hours;
BONK fell more than 12% in 24 hours;
PEPE fell more than 12% in 24 hours;
FLOKI fell more than 12% in 24 hours;
PEOPLE fell more than 12% in 24 hours.
The Ethereum Meme Coin NEIRO breaks through $0.2, setting a new all-time high
According to BlockBeats, on August 1, according to market data, the Meme project Neiro (NEIRO) on the Ethereum chain broke through $0.2 and is now quoted at $0.2004, a record high. The 24-hour increase was 193%, the market value exceeded $200 million, and the 24-hour trading volume reached $16.43 million.
Solana chain Meme coin CTO went online for 3 hours and traded 32 million US dollars, with a market value of over 5 million US dollars
According to BlockBeats, on August 1, according to market information, the Meme coin CTO on the Solana chain traded 32 million US dollars within 3 hours of going online.
CTO is currently quoted at $0.00548, up more than 50% in the past two hours, with a market value of $5.48 million.
It is reported that the makenow.meme platform can issue a token for free with just one tweet, and the CTO is Raydium, who issued the Meme coin on makenow.meme.
BlockBeats reminds users that Meme coins have no real use cases and that investments should be made with caution.
The makenow.meme platform will conduct retroactive airdrops
According to BlockBeats, on August 1, the MEME coin issuance platform makenow.meme will conduct a retroactive airdrop of MNM.
No advisor tokens, no backroom deals, no KOL discounts. Just a backdated airdrop based on early user engagement with these metrics found in profile pages, and those who make tokens with a higher market cap will get more rewards.
Kujira Foundation's operating wallet was liquidated, and the token fell by 40%
According to BlockBeats, on August 1, due to the liquidation of the Kujira Foundation's operating wallet, the price of Kujira tokens fell 40% today, from $0.97 to $0.57.
The foundation had taken on leveraged liquidity provision positions worth millions of dollars but failed to properly manage them on its own DeFi platform.
The team claimed in a statement that the operating funds using leveraged positions were intended to increase liquidity and stimulate activity on its DEX. The liquidation occurred due to a loan the team had taken out using its own Kujira (KUJI) token reserves becoming undercollateralized in a volatile environment.
This led to automatic liquidations, sparking a chain sell-off and causing the price of collateral assets to fall. Data from Pulsar Finance shows that the team’s wallet still has $2 million in debt.
DWF is developing CeDeFi synthetic stablecoins that can benefit users
According to BlockBeats, on August 1, Andrei Grachev, co-founder of venture capital firm DWF Labs, wrote that “DWF Labs is developing a CeDeFi synthetic stablecoin that will allow users to earn substantial returns without losing the flexibility of using their assets.”
BlockBeats Note: CeDeFi provides the same functionality as DeFi protocols while being centralized, allowing people to access DeFi products such as decentralized exchanges (DEX), liquidity aggregators, yield and lending protocols, while still taking advantage of the CeFi system.
Unlike DeFi, which is permissionless and available to anyone, CeDeFi projects tend to be more centralized. They are usually managed by a single or a small group of entities, which allows them to exercise more control (similar to CeFi).
Notcoin adds a new game section, the first game is Lost Dogs
According to BlockBeats, on August 1, Notcoin added a new game section, which will now display games from other developers. Users can not only entertain themselves through games, but also earn income.
In addition, users will receive rewards, the size of which will depend on the league level in Notcoin. Currently, the first available game is Lost Dogs: The Way.
Wormhole will unlock 6% of the total W tokens on August 3
According to BlockBeats, on August 1, Wormhole published a new article stating that 6% of W tokens will be unlocked on August 3, 2024, when a total of 17% of the community's tokens will be unlocked.
These tokens will be held in trust by the Wormhole Foundation and will only be used for future community-related projects. After unlocking, the circulation of W tokens will be:
Community & Startup (17% of 17% unlocked);
Foundation Treasury (3.78% of 23.3% unlocked);
Ecosystem & Incubation (5% of 31% unlocked);
Strategic network participants (11.6% unlocked);
Core Contributors (12% unlocked);
Guardian nodes (5.1% unlocked).
The total unlocking ratio is approximately 25.78%. According to token economics, the next unlocking for strategic network participants, core contributors, guardian nodes, and the ecosystem will take place on April 3, 2025.
Jupiter's proposal to reduce the supply of JUP tokens is now open for voting
According to BlockBeats, on August 1, Jupiter published a message saying that the proposal to "reduce the supply of JUP tokens" has now started voting, and its main goal is to provide more certainty, consistency and transparency for all JUP holders and the community.
For this proposal, Meow and the core team proposed to reduce the total supply by 30%, from 10 billion to 7 billion, with the team voluntarily cutting 30% of their designated allocation.
makenow.meme official account was frozen
According to BlockBeats, on August 2, the official Twitter account (@makenowmeme) of the MEME coin issuance platform makenow.meme was frozen for violating the rules.
Fantom officially changed its name to Sonic Labs and is about to launch a new EVM chain Sonic
According to BlockBeats, on August 2, Fantom announced that it has officially changed its name to Sonic Labs and plans to launch a new EVM chain Sonic before the end of this year.
The name change is aimed at expanding its influence and advancing its technological development. Sonic Labs will be responsible for developing and promoting Sonic-related decentralized applications (DApps).
The new platform Sonic is expected to be a Layer-1 platform, providing a transaction speed of over 10,000 TPS and a fast settlement layer confirmed within one second. Sonic's native token S will enter the ecosystem through large-scale airdrops, simplified staking, and incentive programs.
AltLayer launches stateless Rollup client design proposal
According to BlockBeats, on August 1, given the popularity of application-specific Rollups and their reliance on alternative data availability (DA) layers such as EigenDA, AltLayer proposed a design - implemented through the re-staking Rollup AVS product MACH, which aims to optimize performance, security and scale.
The design builds a stateless client using an alternative DA layer instead of Ethereum’s Rollup. The requirements for a stateless client are as follows:
· Data availability: The stateless client needs to ensure that the Rollup block has been published on the underlying DA layer. · State commitment in the Rollup contract: Once the availability of the block is determined, the stateless client needs to ensure that the state resulting from the execution of transactions in the block has also been committed in the Rollup contract. · Validity of the new state: The next step is to check whether the new state is valid based on the previous valid state.
Polymarket adoption exploded, with weekly activity up 14x year-to-date
According to BlockBeats, on August 2, crypto venture capital firm ParaFi Capital published a statement saying that the prediction market platform Polymarket has experienced explosive growth recently. As the 2024 US election approaches, Polymarket's trading volume so far this year has reached US$688 million, and weekly active users have increased by about 14 times, from about 1,400 to more than 20,000.
Polymarket web traffic has also grown exponentially, with daily page views increasing 10-fold over the past 12 months to over 32 million cumulative page views. In the second half of July, daily page views peaked at 1.3 million, with daily visitors peaking at 185,000.
Of the nearly 70,000 addresses using Polymarket, only 42% of them first traded in election-related markets. The remaining 58% (about 40,000 users) initially traded in non-election markets, including cultural, business, scientific, and macro markets.
Binance Labs Announces Investment in Particle Network
According to BlockBeats, on August 1, according to official news, Binance Labs announced its investment in the modular blockchain Particle Network. The project is an L1 solution that unifies all blockchains through a universal account, aiming to solve the user and liquidity fragmentation problems in Web3.
The newly raised funds will be used to expand the global team, enhance the functionality and integration of its chain abstraction ecosystem, and ensure the launch of its L1 mainnet later this year.
Morpho, a lending platform, completes $50 million private token financing, led by Ribbit Capital
According to BlockBeats, on August 1, DeFi lending platform Morpho completed a $50 million financing round led by Ribbit Capital, with participation from Hack VC, IOSG, Rockaway, L1D, Mirana, Cherry, Semantic, Fenbushi, Leadblock Bitpanda and Robot Ventures. The valuation has not been disclosed yet.
The funds were raised through a private token sale that also included heavyweights such as a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, and Kraken Ventures.
Ribbit Capital was an early investor in fintech companies such as Robinhood, Revolut and Coinbase.
Morpho, which previously raised $18 million in 2022, aims to merge the relatively scarce world of decentralized finance (DeFi) with the internet’s base protocol layer.
Prediction Market MetaDAO Completes $2.2 Million Funding, Paradigm Leads Investment
According to BlockBeats, on August 1, the Solana-based prediction market MetaDAO completed US$2.2 million in financing, led by Paradigm.
MetaDAO aims to establish a governance structure that relies on market forces rather than voting. This structure is called a "futures market."
MetaDAO's rendering of futures is centered around the value of the token META. Any proposal for the group to take action will have a "pass" and "fail" market where traders can speculate on META. The outcome of the proposal depends on which market has the higher token price. A proposal will only pass if META is worth more in the "pass" market than in the "fail" market.
Prediction Market DuelNow Completes $11 Million Funding, Led by GEM Digital Limited
According to BlockBeats, on August 2, the Arbitrum-based prediction market DuelNow completed a $11 million financing round led by GEM Digital Limited, with participation from Litecoin founder Charlie Lee and Dogecoin founder Billy Markus.
DuelNow is a decentralized peer-to-peer entertainment prediction platform that aims to achieve lower fees and higher returns by “eliminating the betting.” The company said the platform currently serves “NFL, MLB, NBA and MMA fans” and plans to add more entertainment products in the future.
The founder of Uniswap repeatedly requested to communicate with MetaMask to solve the MEV problem, but was rejected
According to BlockBeats, on August 1, Hayden Adams, the founder of Uniswap, wrote: “For Uniswap users, the easiest and most effective way to cut MEV losses is to let MetaMask allow us to handle transaction submissions, rather than requiring that all signed transactions be submitted through their RPC+OFA.
We have made multiple requests to MetaMask, but they have refused, even though this would harm the interests of users and the industry.”
Coinbase Q2 financial report is about to be released, with revenue forecast to be US$1.37 billion
According to BlockBeats, on August 1, Coinbase is about to release its second-quarter financial report on Thursday afternoon local time. As cryptocurrency traders have retreated in recent months, this may lead to a reduction in profits for Coinbase Global.
Coinbase is expected to report second-quarter earnings of 94 cents per share on revenue of $1.37 billion after the market closes on Thursday, according to analyst estimates compiled by FactSet.
Prediction market platform Polymarket's transaction volume exceeded US$380 million in July, setting a new record
According to BlockBeats, on August 1, according to Dune data, the transaction volume of the prediction market platform Polymarket reached 387 million US dollars in July, a record high. At the same time, the platform's monthly active users reached 44,500, also a record high.
Metaverse platform Roblox Q2 revenue exceeded expectations, reaching US$893.5 million
According to BlockBeats, on August 1, the Metaverse platform Roblox (RBLX.N) had revenue of $893.5 million in Q2 2024, compared to $681 million in the same period last year. The market expected $890 million. (Jinshi)
Coinbase Q2 revenue exceeds expectations with $1.45 billion
According to BlockBeats, on August 2, Coinbase's total revenue in the second quarter of this year was $1.45 billion, exceeding Wall Street expectations. The average expectation of Wall Street analysts was about $1.4 billion. Coinbase's adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) in the second quarter was $596 million, lower than the general expectation of $607.7 million.
The financial report shows that Coinbase's largest source of income is transaction fees, but transaction fees fell 27% from the previous quarter and transaction volume fell 28%. One of the highlights of the trading platform in the second quarter was that subscription and service revenue increased by 17% from the previous quarter.
In the minutes after the report was released this morning, Coinbase's stock price rose by about 2%, trading at about $212.5, and has risen by about 48% since the beginning of the year.
Yesterday, 10 Bitcoin ETFs reduced their holdings by a total of 1,500 BTC, and 9 Ethereum ETFs reduced their holdings by a total of 23,382 ETH
According to BlockBeats, on August 2, according to Lookonchain monitoring, yesterday (August 1), 10 Bitcoin ETFs reduced their holdings by a total of 1,500 BTC, equivalent to approximately US$94.25 million; 9 Ethereum ETFs reduced their holdings by a total of 23,382 ETH, equivalent to approximately US$72.69 million.
Bitcoin ETFs saw a total inflow of $3.2 billion in July, of which IBIT saw $2.3 billion
According to BlockBeats, on August 1, according to Trader T monitoring, the total inflow of US spot Bitcoin ETFs in July reached US$3.2 billion, with an inflow of 51,000 Bitcoins, including:
· BlackRock IBIT received an inflow of $2.3 billion; · Fidelity FBTC received an inflow of $785 million; · ARK Invest ARKB received an inflow of $182 million; · VanEck HODL received an inflow of $81 million; · Bitwise BITB received an inflow of $69 million; · Grayscale GBTC received an outflow of $427 million.
Grayscale Bitcoin Mini Trust received $18 million in net inflows on its first day of listing
According to BlockBeats, on August 1, according to Farside monitoring, the Grayscale Bitcoin Mini Trust (BTC) had a net inflow of US$18 million on its first day of listing.
US Bitcoin spot ETF had a net inflow of $500,000 yesterday
According to BlockBeats, on August 1, according to Trader T monitoring data, the U.S. Bitcoin spot ETF had a net inflow of US$500,000 yesterday.
US Ethereum spot ETF had a net outflow of US$77.2 million yesterday
According to BlockBeats, on August 1, based on the monitoring data of Farside Investors and Trader T, the US Ethereum spot ETF had a net outflow of US$77.2 million yesterday.
Grayscale ETHE daily net outflow rate slows down
According to BlockBeats, on August 2, the daily net outflow rate of Grayscale ETHE slowed down. Yesterday's net outflow was only US$78 million, which was the day with the least outflow since its listing.
The total net outflow in the first eight trading days after listing reached US$2.055 billion.
Harris is reported to be in contact with top encryption companies recently
According to BlockBeats, on August 1, Cailian News reported that Democratic presidential candidate Harris is reportedly in contact with the U.S. cryptocurrency industry to ease tensions between the Democratic Party and the crypto industry. This further highlights the importance of the crypto industry in this election as Republican candidate Trump promises to include cryptocurrencies in the U.S. strategic reserve.
According to comprehensive reports, Harris' team has recently contacted some people related to major cryptocurrency companies, including well-known companies such as Coinbase, the largest crypto exchange in the United States, stablecoin company Circle, and blockchain payment company Ripple Labs.
Harris' team hopes to have a more constructive dialogue with the crypto industry and establish a regulatory framework that is conducive to the development of cryptocurrencies. This is also an important step for her to win the support of the crypto industry and thus weaken Trump's strong momentum in the industry.
Bitcoin's "explosive trend" is imminent, and the Bollinger Bands have reached their narrowest point
According to BlockBeats, on August 1, a key Bitcoin trading indicator reached its "narrowest point" in a year. The last time this happened, Bitcoin rose 20% in four months. Cryptocurrency trader and analyst Matthew Hyland said in his analysis that "a volatility is almost imminent," while pointing out that Bitcoin's Bollinger Bands (a tool for measuring asset momentum and volatility within a specific range) reached the "third highest point" on the weekly time frame since its creation in January 2009.
He’s not the only trader to spot this new pattern. Crypto trader MaxBecauseBTC added: “The Bollinger Bands on the Bitcoin weekly timeframe have only been this tight twice in history… in April 2016 and August 2023.”
“What surprises me is that the weekly Bitcoin Bollinger Bands are now narrower than the daily Bollinger Bands,” Kristoph Jeffers, COO of Three Jay Partners, wrote on X.
