Mars Finance takes you through last week's hot topics and recommended content:
Last week, the U.S. Bitcoin spot ETF had a cumulative net outflow of US$706.1 million, and the Ethereum spot ETF had a cumulative net outflow of US$91.1 million.
On September 7, according to Farside Investors data, the U.S. Bitcoin spot ETF had a cumulative net outflow of $706.1 million this week, and the U.S. Ethereum spot ETF had a cumulative net outflow of $91.1 million this week, of which Grayscale ETHE had a net outflow of $111 million. Among them:
Fidelity FBTC saw net outflows of $404.9 million;
Grayscale GBTC had a net outflow of $160.7 million;
BITB had a net outflow of $59.8 million;
ARKB had a net outflow of $40.8 million.
Arthur Hayes: Short-term bearish, Bitcoin is expected to fall below $50,000 this weekend, and short selling has been carried out
On September 4, BitMEX co-founder Arthur Hayes pointed out that due to political pressure and the election cycle, it is difficult for the government to significantly cut spending or raise taxes, which will cause the US economy to continue to hover under the dual pressure of inflation and growth. Faced with this situation, the Federal Reserve may no longer raise interest rates further, and the market itself may respond to high debt financing costs by adjusting interest rates. The 10-year US Treasury yield may climb to 5% again, triggering a new round of fluctuations in the financial market. Bitcoin prices have become one of the most sensitive indicators of the liquidity conditions of the US dollar. Hayes believes that if interest rates rise again and market liquidity tightens, Bitcoin and other cryptocurrencies may face a new round of price corrections. On September 6, Arthur Hayes said, "It is expected that Bitcoin will fall below $50,000 this weekend and short it."
Related reading: Arthur Hayes: Short-term bearish, but won’t sell cryptocurrencies
Non-farm data released, the Fed mouthpiece said the non-farm report is unclear, and it is still unknown whether the interest rate cut in September will be 25 or 50bp
On September 6, the seasonally adjusted non-farm payrolls in the United States for August were 142,000, with an expected 160,000, and the previous value was revised from 114,000 to 89,000. Nick Timiraos, the "Federal Reserve mouthpiece", said that the non-farm payrolls report is likely to provide a clear signal about the extent of the Fed's first rate cut, whether it is 25 basis points or 50 basis points, the market pricing will immediately rise to 90%. However, this non-farm payrolls report did not solve this problem well, and the market is currently "half-and-half" for a 25 or 50 basis point rate cut.
Telegram founder Pavel Durov speaks out after being arrested, promising to improve platform regulation
On September 6, Telegram founder Pavel Durov spoke out through Telegram after being arrested in France, not only condemning the reasons for his recent arrest, but also stating that the company is ready to withdraw from markets that are incompatible with its privacy and security principles. Pavel Durov further mentioned that Telegram has taken similar actions in multiple countries, such as Russia and Iran. He said, "If a country is dissatisfied with platforms such as Telegram, it should sue the service platform itself, not its CEO. The claim that Telegram is some kind of anarchist paradise is absolutely untrue. We have direct channels of contact with non-governmental organizations to handle urgent regulatory requests more quickly. In addition, Telegram has deleted the "People Nearby" feature, which is used by less than 0.1% of Telegram users and has problems with robots and scammers. Telegram will launch "Nearby Businesses" to replace it. "
Fractal Bitcoin launches mainnet Bootstrap plan, airdrops 1 million FB to UniSat and OKX wallet users
On September 6, Fractal Bitcoin, a Bitcoin expansion solution, announced the launch of the Fractal Mainnet Bootstrap Program, with a reward of 1 million FB. This community program is designed to reward users who actively use UniSat and OKX wallet services on the Bitcoin mainnet. Simply click on the link on the website to check eligibility, without registration or claiming.
The Ethereum Foundation research team conducted an online AMA again in January this year to respond to many questions and discuss Ethereum development plans.
After 8 months, the Ethereum Foundation research team conducted the 12th AMA on the reddit forum, answering many questions. At 9 pm Beijing time on September 5, the Ethereum Foundation research team began to answer questions one after another, including the reasons for the rise in ETH prices, how long it will take for the Ethereum Foundation's funds to run out, blobs (EIP-4844), ZK and Rollup, etc. BlockBeats screened and sorted the questions and answers and compiled them into a text. It should be noted that the core developers have their own opinions and speculations on certain topics. To avoid misinterpretation, please refer to the attached original post link.
It has been exactly 7 years since the Chinese government stopped ICO activities on September 4, 2017
On September 4, 2017, as many as seven Chinese government departments issued the "Notice on Preventing the Risks of Token Issuance and Financing", calling a halt to ICOs and defining them as illegal financial activities. All domestic virtual currency trading platforms were ordered to close within a time limit and stop new user registrations. The closing price of Bitcoin on that day was $4,100, and then fell to $2,817 on September 15, 2017.
Grass launched the airdrop inspection page, the first airdrop accounts for 10% of the total
On September 5, GRASS announced the launch of the airdrop check page. The check page only reflects the allocation of Closed Alpha and Epochs 1-7, and does not include the ongoing Bonus Epoch or To Be Announced allocation. The total supply will be 1 billion GRASS tokens, of which 10% is reserved for the first airdrop. The detailed allocation is: Closed Alpha: 1.5%; Epochs 1-7: 7%; Bonus Epoch: 0.5%; To Be Announced: 1%. The community is full of resentment about this airdrop, and many people said that they were counter-charged.
L2 daily transactions and monthly activity doubled in the past 6 months, but Ethereum L1 revenue fell 99%
On September 4, according to Tokenterminal’s monitoring, Ethereum L2 transaction fees have dropped significantly in the past 6 months, and L2 daily transaction volume and monthly active users have doubled. However, the resulting “damage” caused Ethereum L1 revenue to drop by 99%.
Binance plans to launch Solana’s liquidity staking token BNSOL by the end of September
On September 4, Binance plans to launch a Solana (SOL) staking product by the end of September. BNSOL will allow users to stake SOL tokens to receive part of the fees paid by the network and mint a liquidity staking token that can be used when these underlying tokens are locked. "Unlike native staking, BNSOL allows users to unlock liquidity, enjoy continuous reward accumulation, and seamlessly participate in the Binance platform and the broader DeFi ecosystem. It is an ideal solution for those who want to maximize the potential of their staked Solana tokens," said Vishal Sacheendran, regional market head of Binance, in a statement.
The People's Court Daily published an article suggesting that comprehensive guidance on the judicial disposal of virtual currencies be issued as soon as possible
On September 3, the People's Court Daily published an article entitled "The Judicial Disposal of Virtual Currency Must be Standardized", pointing out that the standardization of the judicial disposal of virtual currency is crucial to maintaining financial stability and promoting the healthy development of the market. According to statistics from the SAFEIS Security Research Institute, the total number of cases involving virtual currency crimes in China in 2023 was 428, a decrease of 88.9% from 2022, but the amount involved increased sharply to 430.719 billion yuan, about 12.36 times that of 2022. The article emphasizes that the current disposal of virtual currency faces multiple challenges such as ownership identification, value assessment and legal realization. In response to these problems, it is recommended to issue comprehensive guidance on the judicial disposal of virtual currency as soon as possible to clarify its legal status, compliance requirements, asset disposal procedures and legal responsibilities.
Last week's popular articles
ENA token plummeted by more than 80%. Will the algorithmic stablecoin fall into a death spiral?
Ethena is an algorithmic stablecoin that offers high yields and derivatives infrastructure, attracting the attention of investors and institutions. The principle of Ethena is to achieve risk hedging and compound interest by holding stETH and opening short positions, but there is also the risk of changes in funding rates. When the market is cold, Ethena's returns may be affected, and the price and TVL of ENA tokens continue to fall. The risks of algorithmic stablecoins de-anchoring and the risks in the re-mortgage process are thought-provoking, and whether there is a perfect model remains a fascinating question.
Trading volume exceeds 10 million US dollars, a quick look at the new token protocol Etheism in the Ethereum ecosystem
Etheism is a new Ethereum ecological token protocol. Each token has a unique SVG image, which is said to be generated based on transaction history and mathematical algorithms. It combines art with code and is tamper-proof, but its artistic and collection value is not yet clear. The project is in its early stages and needs to be carefully watched.
Trump enters the crypto market! DeFi project is exposed for the first time, and the founding team caused an uproar
Members of the Trump family plan to launch a project called "The DeFiant Ones" to build a credit account system and promote decentralized lending. The project's leadership team is made up of Trump family members and some people who are not members of the family, one of whom once ran a platform for picking up artists, and another who shared his success stories in a popular podcast. Details of the project are still under wraps, but it has attracted attention. Trump promised during his campaign to make the United States the "crypto capital of the earth."
From companion games to the Web3 gaming revolution: A16Z leads $30 million investment in gaming platform Balance
Companionship services are very important in multiplayer online games, satisfying players' social, skill improvement and entertainment needs, and improving game participation and retention. Balance provides global companionship services and builds an open and fair game ecosystem. Balance has launched a game chain based on the second layer zk-rollup, providing instant transactions, scalability and zero handling fees, and using AI technology to lower the threshold for game development. EPT tokens can be used to pay for the operation and maintenance costs of network nodes, participate in governance and purchase game goods and services. Balance has also launched a whitelist event to allow users to become builders and share profits.
Hypernative wins $16 million in funding, how to build a Web3 security line of defense
The DeFi ecosystem faces security challenges, resulting in billions of dollars in asset losses each year. Hypernative is a company that provides blockchain security solutions, protecting users and reputations through real-time monitoring and response to avoid capital losses. Their product Pre-Cog can warn of threats and has helped customers avoid tens of millions of dollars in losses. Hypernative also provides other products such as Security Oracle and Screener to block malicious attacks and sanctioned senders. Their solutions have been used by more than 100 Web3 projects and have helped customers save more than $100 million.
Review of MEME coin FWOG: Rebirth from the ashes, how did its market value soar to nearly $100 million?
After the failure of the new Meme coin FWOG, the community took over and cooperated with the well-known NFT Penguin to restart the issuance. The transparent measures of the development team attracted the trust of investors, with a market value of nearly 100 million US dollars and a trading volume of up to 18.83 million US dollars. Despite the low market sentiment, whales still increased their holdings of FWOG, showing optimism about future growth potential. But the long-term survival of the project still depends on innovation and community support. The Meme coin market has alternated between bull and bear markets many times, and it remains to be seen whether FWOG can maintain its success. As Bitcoin fell, market panic spread, and investors turned to a more speculative PVP model. FWOG once again ignited investor enthusiasm through community operations. In the future, whether FWOG can continue to move forward remains to be seen.
