After 9.4 and 3.12, we all survived 8.5.

Written by Alex Liu, Foresight News

Map: Kiet, Foresight News

Note: "Weekly Hot Searches" counts the user search results of Foresight News from last Friday to this Thursday (August 2 to August 8), and the capitalization of the same concepts is merged.

The market experienced a sharp correction earlier this week. In addition to the higher-than-expected unemployment rate in the United States causing everyone to price in a recession, the selling of "Jump" tokens was also considered to be one of the triggers.

On June 20, there were rumors that Jump Trading was being investigated by the U.S. Commodity Futures Trading Commission (CFTC). Just four days later, Jump Crypto President Kanav Kariya announced his resignation on his social platform without explicitly mentioning the reason for his resignation. Recently, Jump Trading redeemed a sum of $410 million worth of wstETH (120,000 pieces) in batches into ETH and then transferred it to trading platforms such as Binance/OKX. Within 24 hours on August 5, Jump Trading transferred another 17,576 ETH (about $46.78 million) to CEX. According to Scopescan monitoring, Jump's positions are currently dominated by USDC and USDT.

Arthur Hayes, co-founder of BitMEX, also posted on social media that he learned through traditional financial sources that a "big guy" had collapsed and sold all his crypto assets. This so-called "big guy" is most likely Jump Trading.

Foresight News has compiled the reasons for the market decline and front-line opinions. Recommended reading: "The Day of Reckoning"! When the US economic recession comes knocking on the door; Continuously updated: Bitcoin once fell below $50,000, what do the front-line market think?

Perhaps due to the launch of “Matr1x” token MAX, “GameFi” has become popular again this week. Perhaps because of the sluggish market sentiment, the popularity of the "MEME" currency "Neiro" on "SOL" has dropped significantly. But the biggest hot spot in the Solana ecology this week is not a meme. As an experimental hackathon project, "Ore" once caused congestion on the Solana network. Its token price attracted attention. The second phase of the project immediately attracted countless attention as soon as it was launched this week. , Recommended reading:

Gold Rush Manual | Ore mining is over, is it still worth participating?

The Ethereum L2 network "Movement" that supports the Move language has been launched on the public testnet. Officials said that it is ready for large-scale applications. Currently, 6 Web3 projects have been successfully deployed, and the main network TVL has reached 160 million US dollars. Rushi Manche, co-founder of Movement Labs, said, "We will not farm users. Users do not need to complete all tasks. To qualify for the MoveDrop program and get the first resource, just complete 10% of the tasks of one of the guilds. The rest is up to the user." How does Movement interact specifically? Recommended reading: Gold Rush Manual | Movement Interaction Guide: How to participate?

Hot Search Project Progress

  • "AAVE" DAO announced the launch of the Aave V3 ETH Lido custom pool designed for stETH and wstETH. The pool is the first custom deployment on Aave V3, after which third-party developers will be able to make custom deployments to optimize parameters for specific use cases. In this pool, Lido will provide liquidity incentives and reward developers for innovative uses of staked ETH.

  • OSL Digital Securities Co., Ltd., a licensed digital asset trading platform under the Hong Kong digital asset listed company "OSL" Group, announced Cui Song as the new group CEO. He was a senior executive of the digital asset platform Bybit. Pan Zhiyong will focus on his role as chairman of the board of directors, leading the company's strategy, board governance, overseas mergers and acquisitions and government cooperation. This will further optimize OSL’s strategic direction and governance structure, ensure strong oversight and deepen stakeholder engagement.

  • Ripple CEO Brad Garlinghouse responded to Ripple's fine, saying, "The U.S. Securities and Exchange Commission (SEC) demanded $2 billion in compensation, but the court believed that they were overdoing it, so the fine was reduced by about 94%. We respect the court's decision and have made it clear that we will continue to develop the company. This is a victory for Ripple, the industry, and the rule of law. The U.S. SEC's resistance to the entire "XRP" community has disappeared."

  • Grayscale launches new crypto investment products for "SUI" and TAO: Grayscale Bittensor Trust and Grayscale Sui Trust.

Finally, the third FORESIGHT Conference will be held in Hong Kong from August 11 to August 12, 2024. This is a completely native Web3 summit. We only talk about the future, controversial Web3 topics, and non-consensus Web3 concepts. Come to Hong Kong and have a dialogue with global Web3 leaders. For more information, please visit: FORESIGHT Conference.

In addition, FORESIGHT 2024 has launched "Blinks" ticket purchase, becoming the first Web3 media to support "Solana" Blinks ticket purchase. Welcome to experience one-click ticket purchase on X.

Limited time benefit experience price: 0.88 SOL (50% discount on conference tickets)

This week, the overlap between Mirror's hot search list and the hot words on the entire site is relatively low: