● U.S. Ethereum spot ETF had a net inflow of $104.8 million this week
According to BlockBeats, on August 10, according to Farside Investors data, the US Ethereum spot ETF had a cumulative net inflow of $104.8 million this week, of which $48.8 million was net inflow on Monday and $98.4 million was net inflow on Tuesday.
According to Golden Finance, Coingecko posted on the X platform that although the decline in the last four days has caused the total market value of cryptocurrencies to fall from $2.44 trillion on August 2 to $1.99 trillion on August 6, this decline is not one of the worst market corrections in the past decade, as the daily decline is less than 10%. Historical data shows that the worst correction in the global cryptocurrency market occurred on March 13, 2020, when the crypto market plummeted 39.6% due to the panic caused by the new crown epidemic. The total market value of cryptocurrencies plummeted from $223.74 billion to $135.14 billion (DoD). In contrast, the largest sell-off this year occurred in March, with a drop of 8.4%.
● KPMG report: 438 fintech deals in Asia Pacific in the first half of the year, raising US$3.8 billion
According to Odaily Planet Daily, KPMG released the "Financial Technology Trends" report yesterday, showing that in the first half of the year, fintech in the Asia-Pacific region recorded a total of 438 transactions, with a fundraising amount of US$3.8 billion. China's fintech fundraising amounted to US$624 million, accounting for 16% of the Asia-Pacific region, and consumer finance and lending companies accounted for more than half of the transaction volume in the first quarter. The Asia-Pacific region attaches more importance to the development and launch of virtual currencies and real-world asset tokens. Financial hubs such as Hong Kong, Singapore and Japan are committed to balancing innovation and regulation to protect the rights and interests of investors. The Hong Kong government actively develops cryptocurrency regulation and supports cryptocurrency transactions and related activities. In the first half of 2024, the Hong Kong Monetary Authority launched the second phase of the e-HKD pilot program to attract cryptocurrency companies, enhance Hong Kong's financial ecosystem, and promote Hong Kong's development into an international virtual asset center.
● Crypto job market recovers, job demand grows
According to PANews, as Web3 becomes more mainstream, the demand for cryptocurrency and blockchain company positions has increased dramatically, and the crypto job market is showing signs of recovery. A recent crypto product marketing manager position posted on LinkedIn received more than 500 applicants in just five days. The job search website Crypto Jobs List recorded about 600 new cryptocurrency and blockchain job vacancies in July 2024. Industry insiders pointed out that the influx of venture capital into the crypto industry has driven the recruitment boom. According to PitchBook data, venture capital firms focusing on cryptocurrencies invested $2.01 billion in the first three months of 2024, which has exceeded the $1.9 billion investment scale for the whole of 2023. As crypto companies are working hard to achieve development goals and hope to bring products to market, they have directly promoted recruitment needs.
● Trader Eugene: SOL "killer" needs new selling points, not "cheaper and faster"
According to Odaily Planet Daily, trader Eugene Ng Ah Sio wrote in X that regarding the new SOL ‘killer’, the following topics are involved: prices usually lead fundamentals, and most on-chain organic development activities are still in their infancy and may require an additional USP (unique selling point) other than ‘cheaper and faster’.
According to BlockBeats, Federal Reserve Governor Bowman said that inflation remains "uncomfortably" above target levels. There are upside risks to inflation and the continued strength of the labor market, suggesting that she may not be ready to support a rate cut at the next meeting of U.S. central bank officials in September. She said that the progress made in reducing inflation in May and June was welcome, but inflation is still above the committee's 2% target, which is disturbing, and I will remain cautious when considering adjusting the current policy stance. She also said that U.S. fiscal policy, pressure on the real estate market from immigration, and geopolitical risks could all put upward pressure on housing prices, and that the recent jump in the unemployment rate to 4.3% may exaggerate the extent of the cooling of the labor market.
