Headlines
▌Colorado church group tokenizes $2.5 million worth of church property
A network of parachurch organizations called the Colorado House of Prayer has tokenized its parent church in an attempt to purchase the $2.5 million building. Pastor Blake Bush, who is leading the project, said he was driven by a higher power to use blockchain technology as a tool to advance the group’s mission.
The 11,457-square-foot building, known as the "Old Stone Church" for its stone exterior, was purchased by the current owner for $2.2 million in 2022. Bush and the Colorado House of Prayer organization reportedly intended to purchase the building for $2.5 million Bush said he came up with the idea to tokenize the building — putting it on a blockchain as a digital asset that could be divided into shares — after a spiritual experience.
▌Fed voter: It’s time to consider rate cuts
Daly, a member of the Federal Reserve's FOMC this year, said that recent economic data makes me "more confident" that inflation is under control. It is time to consider adjusting the current interest rate range of 5.25%-5.50%. Although the labor market is slowing, it is "not weak."
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $58,608.89, with a daily change of -1.6%;
The latest transaction price of ETH is 2,617.07 yuan, with a daily change of -0.1%;
BNB's latest transaction price is $530.86, with a daily change of -2.3%;
SOL's latest trading price is $142.50, with a daily change of +0.4%;
DOGE's latest transaction price is $0.1, with a daily change of -2.7%;
XPR’s most recent trading price is $0.5647, with a daily change of -0.6%.
policy
▌Better Markets CEO: US SEC has a 90% chance of winning in Ripple appeal
Dennis Kelleher, CEO of Better Markets, said the U.S. Securities and Exchange Commission (SEC) has a 90% chance of winning its appeal against Ripple's XRP lawsuit. He criticized the court's decision as flawed, arguing that the judge in the case misapplied the law.
Kelleher said in an X post, "Seriously. This is not 'the law of the land', this is just a baseless ruling by a district court judge that has been overruled by other well-respected judges and will be overturned on appeal, which is why the judge is not allowing the SEC to appeal."
Blockchain Applications
▌Nubit announces partnership with Fractal Bitcoin
Modular blockchain project Nubit announced a partnership with Fractal Bitcoin to bring OP_CAT-based SNARK validators and Nuport to Bitcoin.
Cryptocurrency
▌40 Bitcoin ETFs around the world hold a total of 1,070,594 Bitcoins
According to HODL15Capital data, as of August 16, 2024, 40 funds hold 1,070,594 bitcoins worth more than $64 billion in global bitcoin ETF data. IBIT continues to hoard bitcoins.
▌NFT lending platform Blend’s total transaction volume has reached US$6.789 billion
According to Dune data, the total transaction volume of Blend, an NFT lending platform under Blur, has reached US$6.789 billion, with a total of 750,071 loans. The platform currently has 11,481 independent borrowing addresses and 4,595 independent loan addresses.
▌Analyst: BTC reaching $150,000 by the end of 2025 will increase MicroStrategy's stock price by about 60%
Benchmark fintech analyst Mark Palmer estimates that if BTC reaches $150,000 by the end of 2025, MicroStrategy (MSTR) would be priced at $2,150 per share (or $215 per share after MSTR’s 1-for-10 stock split on August 9).
As of August 2024, the stock is trading around $132, meaning that Palmer’s forecast of a 300% increase in BTC spot price would only result in a roughly 60% increase in MSTR stock price.
▌Ethereum Liquidity Re-Pledge Agreement TVL currently reaches $10.188 billion
DefiLlama data shows that the current TVL of Ethereum liquidity re-staking protocol is US$10.188 billion, among which the top five protocols by TVL are:
-ether.fi TVL is 4.983 billion US dollars, a 7-day decrease of 1.46%;
-Puffer Finance TVL is US$1.335 billion, a 7-day decrease of 1.22%;
-Eigenpie TVL is 1.174 billion US dollars, a 7-day decrease of 3.11%;
-Renzo TVL is US$974 million, a decrease of 11.08% in 7 days;
-Mellow LRT TVL is $665 million, with a 7-day increase of 2.90%;
▌The number of unconfirmed transactions in the entire Bitcoin network is 171,875
According to BTC.com data, the number of unconfirmed transactions in the Bitcoin network is currently 171,875, the network computing power is 651.33EH/s, and the 24-hour transaction rate is 9.52 transactions/s. The current network difficulty is 86.87T, and the next difficulty increase is predicted to be 1.84% to 88.47T, with 9 days and 10 hours left before the adjustment.
▌TON network currently has 644 million TON staked
According to tonscan data, the TON network currently has a total of 644 million TONs staked. In addition, the current stake APY is 3.7%, and the network has a total of 386 verification nodes.
Important economic developments
▌The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 72.5%
According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points in September is 72.5%, and the probability of cutting interest rates by 50 basis points is 27.5%. The probability of the Fed cutting interest rates by 50 basis points by November is 56.3%, the probability of cutting interest rates by 75 basis points is 37.6%, and the probability of cutting interest rates by 100 basis points is 6.2%.
Harris is pushing new tax proposals to lower the cost of living
Vice President Kamala Harris is pushing a broad set of economic proposals that would provide new tax breaks and lower the cost of living for Americans, aimed at addressing voters’ top financial concerns.
Golden Encyclopedia
What is Delegated Proof of Stake (DPoS)?
DPoS is an evolution of the Proof of Stake (PoS) consensus mechanism, designed to provide enhanced scalability, efficiency, and democratic governance. Daniel Larimer proposed the concept of DPoS in 2014 as an enhancement of the traditional PoS consensus mechanism, designed to improve efficiency and scalability. Larimer first shared his vision in a Bitcointalk forum post, which led to the actual implementation of DPoS and the launch of BitShares in 2015. This marked the beginning of DPoS in blockchain technology, laying the foundation for its adoption in other projects such as Steem and Eos. Eos, in particular, used the consensus mechanism to conduct one of the largest initial coin offerings (ICOs) in the cryptocurrency industry in 2017, which attracted a lot of attention to DPoS and highlighted its potential in achieving high performance and decentralized governance.
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.
