Headlines
▌Tether CEO: Tether is preparing to launch a new open source project
Tether CEO Paolo Ardoino posted on the X platform that Tether is preparing to launch a new open source project that will become an important part of the future ecosystem.
▌Approximately $893 million worth of tokens will be unlocked in August
Approximately $893 million worth of tokens will be unlocked in August as follows:
dYdX will unlock 8.33 million tokens on August 1, accounting for 3.65% of its circulating supply, worth nearly US$11 million;
Sui will unlock 2.56% of its circulating supply (64 million tokens) on August 1, with a current value of approximately $50 million;
ZetaChain will unlock 18.92% of its circulating supply on August 1, nearly 54 million tokens, valued at approximately US$35 million at current prices;
Wormhole will unlock 600 million tokens on August 3, accounting for one-third of its circulating supply, which is worth over US$180 million at current prices;
ImmutableX will unlock 2.11% of its circulating supply, or 32.5 million tokens, with a current value of $49 million, on August 9;
Aptos will unlock another 2.41% of the circulating supply, or 11.31 million tokens, on August 12, with a current value of approximately $80 million;
The Sandbox will unlock 9% of its circulating supply, or 205 million tokens, on August 14, with a current value of approximately $69 million;
StarkNet will unlock 64 million tokens on August 15, accounting for 4.4% of the token circulation. The token is currently worth approximately US$35 million;
Arbitrum will unlock 2.8% of its circulating supply on August 16, currently valued at approximately $67 million;
Avalanche will unlock 2.42% of its circulating supply (9.5 million tokens) on August 20, currently worth $268 million;
Galxe will unlock 4 million tokens on August 2, accounting for 3.5% of its circulating supply, with a current value of approximately US$13 million;
ApeCoin will unlock 2.3% of its circulating supply (15.6 million tokens) on August 17, with a current value of approximately US$12 million;
Osis Network will unlock 151 million tokens on August 18, accounting for 2.2% of its circulating supply, with a current value of approximately US$13 million;
Pixels will unlock 54 million tokens on August 19, representing 7% of its circulating supply, valued at approximately $11 million at current prices.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $68,214.62, with a daily change of +0.3%;
The latest transaction price of ETH is 3272.39 yuan, with a daily increase or decrease of +0.6%;
BNB's latest transaction price is $584.21, with a daily change of +0.4%;
SOL's latest trading price is $184.79, with a daily change of +0.1%;
DOGE’s latest trading price is $0.13, with a daily change of -0.9%;
XPR recently traded at $0.6022, with a daily change of +0.7%.
policy
▌Crypto lawyer: Harris should ask the SEC chairman to resign to show his attitude of promoting the development of the crypto economy during his administration
JohnE Deaton, a crypto supporter and well-known lawyer, posted on the X platform that the most important thing that US Vice President Harris can do is to ask SEC Chairman Gary Gensler to resign immediately to show her serious attitude towards restarting Bitcoin and promoting the digital asset economy during her administration. It can be said that no one has caused more harm to individual investors than Gensler, including SBF.
Blockchain Applications
▌The University of Wyoming has established a Bitcoin Research Institute to produce peer-reviewed academic research results on Bitcoin
The University of Wyoming has created the Bitcoin Institute to produce peer-reviewed academic research on Bitcoin and contribute to philosophy, economics, and interdisciplinary course offerings.
Cryptocurrency
▌After Bitcoin halving, mining companies turn to AI and chip manufacturing to expand their business
The profit squeeze following Bitcoin’s halving has put pressure on the business model of bitcoin miners, with some larger companies viewing the industry-wide obstacle as an opportunity to expand their operations or launch a hostile takeover. Consolidation in the bitcoin mining industry is expected to occur over the next 18 months, with Colorado-based Riot Platforms announcing on Tuesday that it has acquired Block Mining following a hostile takeover of another company, Bitfarms, last month.
While others are diversifying their revenues through innovations such as AI computing and chip manufacturing, Bitdeer uses only 36% of its electricity and is currently evaluating investing its electricity into AI and high-performance computing (HPC) companies to generate revenue. Currently, a large number of data centers are being built and evaluated for use as AI or high-performance computing data centers. Bitdeer is also moving into manufacturing chips specifically for Bitcoin mining.
▌VanEck consultant: The logic of the Fed buying Bitcoin instead of Treasury bonds is based on the fixed total amount of Bitcoin
Gabor Gurbacs, Tether strategist and VanEck consultant, said on the X platform that the logic of the Fed buying Bitcoin instead of US Treasuries is based on the fundamental difference between the two assets: one can be printed infinitely and the other cannot. This is essentially a hard asset acquisition strategy, similar to what central banks do with gold. By switching from Treasury bonds that can be printed at will to Bitcoin, which has a fixed supply, the Fed aims to diversify its asset holdings and potentially protect against inflation and monetary instability. In fact, this is a hedge against itself, which most central banks currently achieve mainly by holding gold. Bitcoin is increasingly being included in the hedging portfolio of central bank portfolios.
▌Analyst: Investors should increase risk and not ignore current positive signals and market narratives
Nansen analysts believe that investors should increase risk and not ignore all the current favorable signals and market narratives, including the Fed's expectations of rate cuts, the lead of US presidential candidate Trump in the polls, the widening spread between Bitcoin call options and put options, and the Bitcoin momentum indicator above the buying threshold. In addition, the inflow of funds to the spot Bitcoin ETF is increasing, while the on-chain transaction fees led by Ethereum are also growing, which is likely due to the launch of the Bitcoin ETF on July 23. The market value of stablecoins is also accelerating, indicating an increase in net inflows on the chain.
▌The TON network has currently pledged more than 675 million TON, accounting for 26.9% of the circulating supply
According to tonscan data, the TON network currently has 677 million TONs staked, accounting for 26.9% of the circulating supply (2.5165 billion). In addition, the current stake APY is 3.7%, and the network has a total of 400 verification nodes.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged this week is 95.9%
According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged this week is 95.9%, and the probability of a 25 basis point rate cut is 4.1%. The probability of the Fed keeping interest rates unchanged until September is 0%, the probability of a cumulative 25 basis point rate cut is 87.7%, the probability of a cumulative 50 basis point rate cut is 11.9%, and the probability of a cumulative 75 basis point rate cut is 0.4%.
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.
