Headlines: USDe Supply Exceeds 12 Billion, Reaching a Record High. According to official data, the USDe stablecoin issued by Ethena Labs has exceeded 12 billion, currently at approximately 12.02 billion, a new all-time high. $208 Million in Liquidation Across the 24-Hour Network, Primarily Driven by Long Positions. Data shows that $208 million in liquidation occurred across the network over the past 24 hours, with $136 million in long positions and $72.5722 million in short positions, primarily driven by long positions. $59.8264 million in ETH and $26.7564 million in BTC were liquidated.
Market
As of press time, according to Coingecko data:
BTC price is $115,345, up or down -0.4% in the past 24 hours;
ETH price is $4,787.06, up or down +2.1% in the past 24 hours;
BNB price is $881.38, up or down +0.3% in the past 24 hours;
Blockchain Applications
▌Coinbase hinted at launching prediction markets, RWA, and other businesses
Coinbase issued a statement on the X platform, hinting at launching prediction markets, RWA, and other businesses, transforming into a "one-stop exchange."
Cryptocurrency
▌Bitmine spent $45 million to increase its holdings by 9,613 ETH, with its current holdings worth $7 billion
According to Arkham monitoring, Bitmine spent $45 million to increase its holdings by 9,613 ETH 32 minutes ago, with its current holdings worth $7 billion. According to OnchainLens, a Bitcoin whale deposited another 5,000 BTC (worth approximately $574.67 million) into Hyperliquid to increase its ETH holdings.
This whale now holds 179,498 ETH, valued at approximately $850.5 million, and maintains a long position of 135,265 ETH, valued at approximately $640.92 million.
Bitmine spent $45 million to increase its holdings by 9,613 ETH, and its current holdings are worth $7 billion.
According to Arkham monitoring, Bitmine spent $45 million to increase its holdings by 9,613 ETH 32 minutes ago, and its current holdings are worth $7 billion.
A pre-mined address containing 49 ETH was activated after being dormant for 10.1 years
According to the on-chain data tracking service Whale Alert, a long-dormant pre-mined address was just activated around 3:59 am Beijing time. The address contained 49 ETH (about $237,700). This ETH was worth only $15 in 2015, 10.1 years ago. LayerZero's $110 Million Stargate Acquisition Proposal Approved LayerZero officially announced that the Stargate DAO has approved its acquisition of Stargate (STG). StargateDAO members voted 95% in favor of the acquisition, and STG holders will be able to convert their tokens into ZRO on Monday.
On August 11th, the LayerZero Foundation proposed to acquire the Stargate cross-chain bridge and its STG token for $110 million. Under the terms of the proposal, the STG token will be deactivated, and STG holders will be able to convert their tokens into LayerZero's native ZRO at a rate of 1 STG to 0.08634 ZRO, equivalent to a value of $0.1675 per STG and $1.94 per ZRO. As of August 5th, 10,810 investors held over 1 billion won (approximately $710,000) in virtual assets on South Korea's five largest won-denominated exchanges, with an average of 2.229 billion won (approximately $1.59 million) held per user. This figure is over 200 times higher than the average holding of 10,866,371 users (10.27 million won) on the five largest exchanges.
Of those holding over 1 billion won in virtual assets, 8,242 (76%) are Upbit users. Looking at each age group, the largest number of people holding over 1 billion won in virtual assets are in their 50s (3,994 people), followed by those in their 40s (3,086 people), those over 60 (2,426 people), and those in their 30s (1,167 people). While the number of people in their 20s is smaller than other age groups at only 137, their average holdings are a whopping 2.68871 billion won, significantly higher than other age groups. A whale who "rolled long ETH for $125,000" has realized a paper profit of $4.78 million, with their position valued at approximately $120 million. According to on-chain analyst Aunt Ai (@ai_9684xtpa), this whale's 15x long ETH position has generated a paper profit of $4.78 million. Currently, its position is in a rolling phase, holding 25,108.32 ETH, approximately $120 million, with an opening price of $4,590 and a closing price of $4,670.3. An investor lost approximately $1.54 million by signing a batch of phishing transactions for EIP-7702. According to Scam Sniffer, a provider of crypto fraud monitoring, an investor lost approximately $1.54 million by signing a batch of phishing transactions for EIP-7702. Scam Sniffer stated that it has discovered multiple similar victimization cases targeting EIP-7702 upgrade addresses and warned against bulk transfer phishing attacks targeting these addresses.
Important Economic News
Data: 62% of Americans expect unemployment to rise in the next 12 months
According to The Kobeissi Letter, 62% of Americans now expect unemployment to rise in the next 12 months, one of the highest levels since the 2008 financial crisis. This proportion has doubled in less than a year and has never been so high outside of a recession.
Interestingly, households in the top 33% of income brackets are more pessimistic than middle- and lower-income households. In previous economic cycles, changes in expectations of this magnitude have predicted a surge in unemployment 100% of the time. Trump Media & Technology Group's Bitcoin reserves are currently valued at billions of dollars, ranking eighth globally. According to @pete_rizzo_, Trump Media & Technology Group (DJT.O)'s Bitcoin reserves are currently valued at billions of dollars, making it the world's eighth-largest Bitcoin holder. ECB President Lagarde: European labor market conditions are better than expected. ECB President Lagarde: European labor market conditions are better than expected. Inflation has fallen significantly, and employment costs are low. Custodia Bank CEO: Traditional financial institutions may face their first "crypto winter." At the Wyoming Blockchain Symposium, Custodia Bank CEO Caitlin Long stated that the mismatch between traditional financial systems and blockchain protocols could impact traditional financial institutions. "Because traditional systems can't update in real time, these fault tolerance mechanisms are built into the system. In the cryptocurrency world, everything must be real-time, and cryptocurrency is a completely different ball game. I do worry about how these financial giants will respond when the inevitable bear market comes again. I know some are optimistic that a bear market won't happen again. I've been in this industry since 2012, so I know it will happen again." Polish Scholar: The US Will Be the Biggest Loser from Tariffs Nowak, a professor of international relations at the Wisla School of Finance and Business in Poland, said he believes the US will be the biggest loser from the tariffs. In the current trade system, countries will eventually restructure the global trade landscape through various means, putting the US at a significant disadvantage. Other countries will not maintain this high-tariff trade system with the US, which will inevitably lead to a restructuring of the global trade landscape. Looking back at Trump's first term, we can see that tariffs have not led to job growth. Therefore, I believe American consumers will pay the price, and the US will inevitably be the loser. (CCTV News) Tokenized commodities represent fractional ownership of real-world assets using digital tokens on a blockchain, while retaining their tangible value. Tokenized commodities are digital versions of real-world items (such as gold, oil, or agricultural products) recorded on a blockchain. Each token represents a portion or the entire commodity, making them easier to divide and trade. This simplifies the buying and selling of small portions of commodities, provides greater liquidity, and offers access to markets that are typically difficult to trade. Instead of purchasing the entire commodity (which can be very expensive and impractical), you divide it into small pieces called tokens. Each token represents a small portion of the commodity. Blockchain technology can help tokenize a variety of commodities, including energy resources, real estate, precious metals, and agricultural products. Commodity-backed cryptocurrencies are digital assets designed to be more stable than volatile cryptocurrencies. This stability is achieved by pegging their value to tangible commodities such as real estate, gold, or oil. Commodity tokenization clarifies ownership, enables fractional ownership, simplifies transactions, and facilitates market activity. While promising, tokenized commodities also face challenges. Regulations are not always clear, and existing rules may not fully cover them. The technology behind tokenized commodities must be properly tested to handle the complexities of creating and trading these tokens.
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