- $XRP SEC v. Ripple case over - BlackRock $BTC ETF +$53M - $ETH Plus-Token FUD - $SOL Brazil Solana ETF - Grayscale New fund $SUI $TAO - OKX delists $PCI $MSN $SLN - $CRV Inflation reduction - $CSPR Prove AI
👇
• 3 days of big outflows in the BTC ETF recently. However, today's net inflow for $IBIT is +897 BTC (+53M)
• $XRP - The SEC v. Ripple case has concluded with Ripple fined $125 million and an injunction against future securities law violations.
• $ETH - Lookonchain deleted the previous analysis about Plus-Token (FUD). According to @EmberCN, most of the 789,534 $ETH were sold from June to September 2021.
• $SOL - The Brazilian Securities and Exchange Commission (CVM) approved the first Solana spot ETF with CME Group, to be live in 90 days.
• $SUI $TAO - Grayscale has introduced new crypto funds for Bittensor's TAO and Sui's SUI, accessible to accredited investors.
• $CSPR - Casper announced the first phase rollout of Prove AI, developed alongside IBM, with the official launch set for September.
• $CRV - With the Curve Finance team unlock completed, $CRV inflation will be reduced to 6% on August 13.
• OKX to delist $MSN, $OMN, $REP, $IGU, $PCI, and $SLN spot trading pairs on Aug 9.
• Japanese public company Metaplanet secures ¥1 billion loan to buy more Bitcoin, and MicroStrategy will be buying $2 billion soon.
[Note to self] Initial Jobless Claims are released on Thursday at 14:30 UTC. Following last Friday's payroll report, market volatility has increased, and any signs of job market weakness could impact stock/crypto.
• BOJ's Uchida stated they won't raise rates if the market is unstable.
• SOL/ETH has hit an ATH. The next thing to watch for is whether SOL/BTC will also achieve an ATH.
• International Cat Day 2024, taking place annually on August 8. The market often interprets these events as a catalyst for meme coins (e.g., World Frog Day).
• The U.S. Treasury will begin buying back up to $46 billion worth of outstanding government securities by the end of October.
• #BABYDOGE - Baby Doge has announced that the Solana bridge and BabyDoge token on Solana are expected to be released on Sept 5.
• $DRIFT - Drift Protocol achieved a $1 billion daily trading volume during the recent market crash. The community will propose governance (DIP-2) regarding token utility in August.
• $ENA - Ethena Founder @leptokurtic_ has hinted at a big announcement this week (possibly involving a deployment on Solana).
• $OMNI - Omni network has hinted at the release of a new product, expected to be a game.
• $RON - Ronin Network was notified by white-hats about a potential exploit on the Ronin bridge. All user funds are safe, and the bridge will undergo an audit before reopening.
• $SPEC - Spectral has announced that it will soon release Syntax V2. The update will include upgraded incentive and utility mechanisms.
• Nasdaq and BlackRock's filing to add options on Ethereum ETFs has hit the SEC site. Final SEC decision on this from SEC likely to be around April 9th, 2025.
• According to @PeterLBrandt, The current post-halving correction resembles the 2015-2017 cycle, with previous cycles indicating a new bull cycle high may still be weeks away.
[Note to self] The current market is reacting sensitively to the release of U.S. economic data. And While various news outlets report on the possibility of an Iran-Israel war, retail sentiment seems to lean towards an "it probably won't happen" attitude. Therefore, it may be wise to avoid taking risky leveraged positions.
• The odds of a 50 bps rate cut by September have increased to 73.5%. Some are calling for an "emergency rate cut" before the meeting, but rate cuts in between Fed meetings are very rare.
• The estimated "real number" liquidated from the crypto market in the past 24 hours is between $7-9 billion, making it the largest liquidation event since May 19, 2021. (Exchanges do not real full liquidation data)
• Japan's Nikkei 225 surged over 10% at the open, rebounding after its largest 2-day drop in history.
• Regarding US data, the focus is now on the job market. Initial jobless claims to be released this Thursday, although not typically market-moving, could influence market sentiment.
• Bitcoin and Ethereum ETFs saw a massive $6 billion in trading volume during the August 5 market dip.
• Spot ETH ETF inflows were positive for the day (>+$1.7M). Today marked the lowest Grayscale $ETHE outflow day, continuing the downtrend from the past few days.
• Vitalik Buterin recently shared an optimistic outlook on interoperability projects. This ties into improving user experience, and $ZRO is seen as a first mover in this sector.
• An OpenAI spokesperson stated that there are no plans to announce ChatGPT-5 at the DevDay scheduled for October. $WLD
[Note to self] With the vast majority of crypto buyers currently at a loss, observing whether ETF investors sell into this pullback or buy more will serve as an indicator of short-term market direction.
• $370 million liquidated from the crypto market in the past 1 hour.
• Biggest 2-day drop for the Nikkei in history, surpassing Black Monday.
• Jump Trading has likely been offloading $ETH, unstaking $500M worth over the past 2 weeks. Rumors suggest they are exiting the crypto market maker business.
• The US tipped off the G-7 that Iran might strike Israel within the next 24 hours, according to Axios.
• Berkshire Hathaway has been dumping more shares this quarter than ever before. The market's reading this as a major recession red flag.
• Trump momentum has flipped to Kamala momentum. Polymarket showing Trump at 52% and Kamala at 45%, and the gap closing in.
• The unwinding of Yen carry trades is causing a reduction in global liquidity, affecting asset prices across markets, including US Treasuries and crypto.
• Korea Financial authorities are sniffing out possible price manipulation in $AVAIL during its Bithumb listing. This might mean fewer listings on Korean exchanges for a while.
[Note to self] a) Stick to your plan, b) Hold onto your long-term bags, and c) Avoid overtrading in the meantime.
Aug 1 : Coinbase Future - DYM·MKR·AAVE listing Aug 2 : $CRV - Emissions drop (20% > 6%) Aug 2 : $ENA - Bybit USDe 20% APR Aug 3 : $W - $160M Unlock
Aug 5 : Bithumb - AGIX·OCEAN delisting Aug 5 : $ZK - GRVT Exchange (Open beta) Aug 6 : $FIL - Waffle Upgrade Aug 7 : $FX - $AFIX Merge Vote Aug 8 : International Cat Day ~Aug 9 : $INJ - Altaris Mainnet Upgrade
Aug 12 : $MKR - Spark Tokenization Grand Prix Aug 13 : U.S. - PPI Aug 14 : U.S. - CPI Aug 14 : $MNDE - Stake Auction Marketplace Aug 15 : $ALEX - XBTC & XUSD Integration ~Aug 16 : $FTT - FTX Repayment Process Voting
Aug 20 : $AVAX - $250M Unlock Aug 22~24 : U.S. - Jackson Hole Meeting Aug 26 : $STRK - v0.13.2 Upgrade (Mainnet) Aug 28 : $NVDA - Earnings
- $LDO Scorecard - $ATH Bonus emission $30M - $MNDE SAM Mainnet - $TOKEN x $FLOKI x Simon's Cat - $FX Merge Proposal - $GMX Buyback Proposal - $TON In-app browser & Mini-app store - $ZKJ Proof Cloud
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[No explicit signal of a September rate cut, but there were notable changes in the Fed's statement. The Fed didn't make any concrete promises but left the door wide open for a potential rate cut in September.]
• $ATH - Aethir has announced $30M in bonus emissions for the AI staking pool. Users must stake by Aug 1, 12:00 AM (UTC) to become eligible for the rewards.
• $TOKEN $FLOKI - The animated cat brand @Simonscat is launching a memecoin on Floki's TokenFi launchpad on August 8. A portion of the tokens will be airdropped to $FLOKI holders.
• $FX - The governance proposal to "Pundi AIFX—Merge Pundi X Chain with f(x)Core" is now live.
• $GMX - The Governance proposal to "Buyback GMX and Distribute GMX" is now live.
• $LDO - Lido has updated its Scorecard, a tool for evaluating decentralization, trustlessness, and minimal governance.
• $MNDE - Marinade Finance will launch Stake Auction Marketplace (SAM) Mainnet on August 14.
• $TON - Telegram has launched an in-app browser and a mini-app store that supports decentralized Web3 pages.
• $ZKJ - Polyhedra Network and Google Cloud are launching "Proof Cloud" in open beta.
• Ethereum might experience its first net inflow day, as Grayscale $ETHE outflows have halved since yesterday.
• $EGLD - MultiversX plans to release xExchange V3. Public testing will occur from August 5-7, with the official launch shortly after test.
• $ENA - Ethena Labs announced that users can use USDe as collateral on Bybit. Starting Aug 2, Bybit users can earn up to 20% interest annually by holding USDe or using it as collateral for trading.
• $INJ - Injective announced the Altaris Mainnet Upgrade is scheduled for this week.
• $JASMY - According to @misscryptojapan, Jasmy's CEO has teased that a demo is ready for a marketplace offering GPUs in a decentralized manner.
• $JTO - Jito Foundation has announced the mainnet launch of the StakeNet Steward Program.
• $LISTA - Binance Launchpool will support for DeFi BNB Assets (slisBNB). Megadrop and HODLer Airdrops will also support DeFi BNB Assets soon.
• $SMT - Swarm Markets will burn 81.2M (34% of all) $SMT tokens on July 31 at 08:00 UTC.
• $XRP - SEC has scheduled a closed-door Sunshine Act meeting Aug 1. Ripple community speculates it might discuss settling the Ripple lawsuit.
• $ZRO - Animoca Brands and LayerZero Labs has announced strategic partnership positioning LayerZero as default interoperability solution for Animoca Brands’ ecosystem.
- Grayscale $ETHE Outflow slowing - Coinbase listing $SD - $JTO New bell curve - $COMP Fee Switch Triggered by Hacker - $MKR Endgame Integration Program - $EPX $VPR Token merge - $NKN Mid-year Roadmap
👇
[Grayscale's $ETHE outflows are slowing slightly, with $1.7 billion withdrawn after 5 days, representing 20% of the starting assets. For the BTC ETF, the $BTC bottom occurred at cumulative Grayscale outflows of ~13.2%. If the ETH ETF launch follows a similar pattern as the BTC ETF launch, Ethereum’s price may have already bottomed and could rise for several weeks.]
• The U.S. government has transferred $2 billion in Bitcoin linked to Silk Road. It is highly likely that this is part of Coinbase's custodial contract.
• Coinbase will list Stader $SD on July 30.
• $COMP - It appears that Humpy and Compound have reached a truce. Humpy will cancel the proposal. In return, Compound will share fees earned with $COMP holders.
• $EPX $VPR - VaporFund and Ellipsis will merge to form $VPX. The merge date has not been disclosed yet, and the launch of the VPX App will be release soon.
• $DRIFT - Drift protocol will launch a US election predictions market soon.
• $ENA - Bybit will temporarily suspend Borrowing (UTA), Crypto Loans, and Bybit Savings for $USDE starting July 30 until further notice.
• $JTO - Jito tops all blockchain fee generators in 24h, and CEO hinted at an upcoming 'New bell curve' launch.
• $MKR - Maker CEO Rune announced that contributors will publish the Endgame Integration Program this week.
• $NKN - NKN announced a mid-year update for 2024. The team plans to expand to Solana.
The growth of DeFi projects is closely tied to their product offerings.
A recent example is Pendle's PT/YT, which boosted price/TVL through its connection with the Restaking narrative.
This growth has been driven by the team's ongoing execution of the strategy, "Find product-market fit during the bear, and scale during the bull."
I anticipate Maple will follow a similar playbook.
Recently, Maple has been making significant progress with real revenues and product-market fit. Revenue/TVL across the platform has been roaring back to multi-year highs, reaching $300M, driven by the launch of @syrupfi.
**Sryup, a permissionless fixed yield protocol powered by Maple, offers high-quality collateralized lending instruments to institutions and has been a major catalyst for this growth, achieving ~$42M in TVL with an 18% APY.
This on-chain lending protocol has doubled its active loans over the past six months while maintaining a record of zero exploits.
Also, a strategic partnership with @ZodiaCustody is expected to lead to further growth and play a leading role in institutional lending.
After the launch of Ethereum ETFs and the resolution of the $ETHE overhang, tokenization (RWA) led by BlackRock and Goldman Sachs is likely to re-emerge as a major narrative.
With a market cap of just $85M, I expect Maple to become a dark horse in the near future.
• Grayscale's $ETHE saw a $346.2M outflow on the third day. They are selling ETH about 3x faster (13% vs 4.3%) than BTC, amid lower liquidity summer conditions.
• Coinbase will add support for perpetual futures on $DYM, $MKR and $AAVE on August 1.
• $AAVE - AAVE founder Marc Zeller proposed a fee switch for buyback of Aave tokens from the secondary market.
• $CORE - CoreDAO introduced a dual staking model, allowing both $BTC and $CORE tokens to be staked for enhanced rewards.
• $DRIFT - Drift will launch official prediction markets very soon.
• $PIRATE - Pirate Nation @0xDith has teased plans to bring v1 multichain online and unblock several new features in the coming weeks.
• $PSTAKE - pSTAKE’s Bitcoin liquid staking testnet will be launched on July 29 with a 50 $BTC deposit cap.
• $REZ - @RenzoGov has proposed to allocate 5% of the total $REZ token supply to ezPoints recipients and liquidity emissions over 5 months.
• $JTO - The Jito Foundation has released the code for Jito Restaking, a next-generation hybrid staking, restaking, and LRT module.
• $XDC - XDC Network has announced Deutsche Telekom MMS joining as a node infrastructure provider.
• OpenAI has announced SearchGPT, an AI-powered search engine prototype. $WLD
• The Jersey City Pension Fund is in the process of updating paperwork to the SEC to allocate a percentage of the fund to Bitcoin ETFs, similar to what the Wisconsin Pension Fund has done with a 2% allocation. @StevenFulop
- Rescheduled SEC meeting $XRP - Grayscale's $ETHE : -326.2M - $FIS Burning proposal - $SLND Rebrand to SAVE - $STG Revamp Staking - $LRDS Airdrop to $MOCA staker - $PSTAKE Big announcement - $ZEC Roadmap update
👇
[The rescheduled SEC Settlement meeting will take place on July 25, 2:00 PM - 4:00 PM ET. If the Ripple-SEC settlement rumor proves false, a "Sell the News" event may occur. $XRP]
• Grayscale's $ETHE saw a $326.2M outflow on the second day.
• Bitstamp will start distributing Bitcoin and Bitcoin Cash to Mt Gox creditors on July 25.
• Coinbase has announced the listing of @BLOCKLORDS $LRDS.
• $FIS - StaFi Protocol has teased an $FIS burning proposal.
• $MOCA - Mocaverse has announced an $LRDS airdrop for $MOCA stakers.
• $RUNE - Thorchain has teased that RUNEPool is set to launch as early as next week.
• $PSTAKE - Pstake has teased a big announcement is coming soon.
• $SLND - Solend has announced its rebranding to Save.
• $STG - Stargate DAO has proposed to revamp staking mechanism, potentially broaden pcarticipation throughout.
• $ZEC - Zcash has updated its roadmap. Hybrid proof-of-stake mechanism development and release are in progress.
• Nasdaq worst close in 2 years. $1.1 trillion wiped out from the US stock market today.
- Grayscale $ETHE Outflow - Mt. Gox Overhang $BTC - $ALT Unlock delay - $COTI x Israel's CBDC - $ENA x BlackRock's BUIDL - $ENS x Bitwise - $DYDX V3 Infra sale - $SSV Utility Proposal - $AAVE V3.1 Upgrade
👇
• Grayscale's $ETHE saw a $484M outflow on the first day. It looks like a similar playbook to Grayscale's $BTC ETF launch, which initially curbed Bitcoin prices.
• Kraken successfully returns BTC and BCH to Mt. Gox creditors. Other CEXs are expected to return $BTC soon.
• $AAVE - The governance proposal to upgrade Aave v3 to v3.1 voting has started.
• $ALT - AltLayer announced a 6-month pause in the ALT token vesting schedule after the first unlock on July 25.
• $COTI - COTI announced participation in the Central Bank of Israel's CBDC project.
• $DCR - Decred has teased that DEX V1 launching soon.
• $DYDX - dYdX is in talks to sell its deprecated V3 derivatives trading software to a consortium of major crypto market makers.
• $ENS - Bitwise announced using ENS domain for its custody addresses.
• $ENA - Ethena proposed allocating part of its reserve to RWA. BlackRock's BUIDL fund applied for $34M to provide RWA yields to Ethena.
• $SSV - SSV network has proposed Simple DVT Expansion. The plan to use SSV tokens for network fees and incentives.
[The Cboe BZX Exchange, following NYSE, approved Ethereum ETF listing from 21Shares, Fidelity, VanEck, Franklin and Invesco/Galaxy. Trading will begin tomorrow.]
• The US government transferred 58.742 BTC to Coinbase Prime.
• China just made a surprise interest rate cut by 0.25% to stimulate economic growth.
• $AVAIL - Avail has announced that liquid staking will be available on day one of the mainnet through https://t.co/YYKYjX4K1O.
• $GMT - STEPN GO announced that Alpha Testing will start on July 23.
• $JUP - Jupiter CEO Meow announced a collaboration with Irene Zhao. ZachXBT criticized this, citing her past transparency issues.
• $MOCA - MOCA Foundation and TON Foundation announced a 1:1 token swap of $MOCA and $TON worth $20M to incentivize adoption.
• $MTL - Metal announced that Metal Dollar will soon be available on Metal L2.
• $ROUTE - Router Protocol announced the imminent Router Chain mainnet launch and a Staking Campaign starting this week.
• $STRK - Starknet has unveiled the v0.13.2 update with parallel execution. Testnet launches on August 5, and Mainnet on August 26.
• $SXP - Solar CEO @WillemsTRA has teased that the beta phase for BrighterVPN will start next week.
• $VIC - Viction Saigon Upgrade Proposal has been approved. Revised tokenomics will be applied later.
• $ZIG - Zignaly announced that the ZIGChain Testnet is coming soon.
- Binance listing $BANANA - Coinbase Future $TAO $TON $TRB - WazirX Exploit $SHIB - $IOTX 2.0 Overview - $INJ AINJ (ETP) - $APE Project Dragon - $MODE Community hard fork - $XAI x Valeria games
👇
[Grayscale's "Mini" Ethereum ETF becomes the cheapest Ethereum ETF with a 0.15% annual fee. This will likely stem ETH outflow that was such a huge problem with Grayscales Bitcoin ETF]
• Binance will then list $BANANA at 2024-07-20 09:00 (UTC)
• Coinbase International will launch trading perpetual contracts $TAO, $TON and $TRB on July 25.
• WazirX has experienced an exploit resulting in over $230 million in losses. The hacker has sold all $102.1M worth of $SHIB. $WRX
• $APE - Yuga Labs' Othersidemeta will release "Project Dragon" on July 27.
• $DESO - Deso protocol has delayed the release of Social app Focus to Sept 17.
• $IOTX - IoTeX unveiled details of v 2.0 and updated tokenomics.
• $INJ - Injective has announced the launch of AINJ, the Injective Staking Exchange-Traded Product (ETP) by 21Shares.
• $MATIC - Polygon will migrate MATIC to POL token on Sept 4.
• $MODE - Mode Network announces a community hard fork on July 22.
• $SNT - Status has hinted that the date for SNT staking will be revealed soon.
• $XAI - Valeria games will be officially moving to XAI. Details on the Play-2-Airdrop for Valeria will be shared later.
• Standard Chartered, Animoca, and three others have joined HKMA's stablecoin sandbox. HKMA plans to present a bill on fiat-referenced stablecoins later this year. $MOCA
- $GAL ➜ $G Rebranding - Coinbase #A8 - Grayscale AI Fund - $SEI Ecosystem Fund $50M - $BNX 74% Token burn - $ATH Community program $50M - $WLD Price manipulation - SEC Reconsidering Staking $LDO $RPL
👇
[Binance and Upbit will support the $GAL token swap, redenomination, and rebranding to $G on July 19. This reset can create a fresh chart and unit bias, making it feel like a new listing for retail investors. As a trading strategy, one might consider buying $GAL before trading is suspended to capitalize on the potential listing pump.]
• Grayscale launches a new fund for decentralized AI featuring $TAO, $FIL, $LPT, $NEAR, and $RNDR.
• Coinbase listed @Ancient8_gg $A8 token.
• $ATH - Aethir Foundation has announced a $50M Community Bonus Rewards program after calling off the IOnet token swap.
• $BNX - BinaryX has announced a proposal to burn 74% of the BNX max supply, moving to a deflationary model. The vote date is TBD.
• $DMAIL - Dmail has announced Season 2 airdrop coming in late July.
• $FLOKI - Floki will have a marketing announcement on July 22.
• $NOT - Pixelverse will reward Notcoin holders. Notcoin community, Gold and Platinum levels will get perks from Pixelverse.
• $SEI - Sei Foundation has announced a $50M Japan Ecosystem Fund to boost the gaming, social, and entertainment sectors.
• $UTK - xMoney unveiled the final stretch of UTK 3.0 Tokenomics with the introduction of Guilds.
• $WLD - Worldcoin has announced an extension of its token lockup by 2 years, leading to allegations of price manipulation from @zachxbt and @DefiSquared.
• SEC Commissioner Hester Peirce said staking and in-kind creation/redemption for Ether and Bitcoin ETFs are open for reconsideration. $LDO $RPL $SSV
MakerDAO has unveiled NewGovToken Activation Feature. NewGovToken is obtained by upgrading MKR 1:24,000 following Endgame launch, coming very soon. $NGT activators will earn $SPK rewards.
• $AMB - AirDAO has proposed a new profit utilization and token burning strategy. Voting starts on July 17.
• $ASTR - Astar CEO Sota Watanabe has teased that the new brand of StartaleHQ will be revealed tomorrow, prior to Astar Evolution Phase 1.
• $ATH - Aethir reported $36M in revenue over the past year. The mainnet launch is planned for Q4 2024, with revenue used for $ATH buyback.
• $FTT - FTX and CFTC agree to $12.7 billion settlement, subject to court approval.
• $NGL - Entangle has announced a significant reduction in $NGL token emissions and the burning of 25% of team tokens.
• $RARE - SuperRare has proposed an Ethereum Layer 2 blockchain for the onchain art market, with a RARE token holder vote planned for late July.
• $SWEAT - Sweat Economy's DAO proposal to reduce $SWEAT minting by 30% has been accepted.
• $WLD - Worldcoin has extended the lock-up period for 80% of its investors' and team members' $WLD tokens from three to five years.
• $ZRO - GSR Market's token holdings have increased from $9.53M to $14.53M.
• Kraken Exchange to Distribute $BTC and $BCH to Mt. Gox Creditors Within 7-14 Days.