Headlines

▌Dogechain Has Been Down for 8 Hours, Far Exceeding the Official Maintenance Time

Dogechain announced today that it will carry out main network maintenance. It is expected that the network will be shut down for 2-3 hours, and said that this maintenance will carry out key upgrades, and user funds are safe. However, according to data from Dogechain's official website, the network has been down for 8 hours at present, and there is no update on the official social media.

▌20,000 Blocks Left Until Ethereum Merges

There are currently 20,000 blocks left before Ethereum merges, and the estimated remaining time is 3 days, 7 hours and 46 minutes.

▌Data: The Total Crypto Market Capitalization Rebounded Above $1.1 Trillion

The current total crypto market capitalization has risen back above $1.1 trillion, reaching $1,102,166,647,841 at the time of writing, a 0.4% increase in the past 24 hours, of which the market value of Bitcoin temporarily rose to $413,136,490,006, and the market value of Ethereum rose to $211,909,249,292.

Cryptocurrency

▌Algorand Foundation Discloses $35M Exposure in Hodlnaut

Algorand Foundation has announced that it has a $35 million USDC exposure in troubled Singapore-based lender Holdnaut. Its $35 million exposure is less than 3% of its assets and surplus to day-to-day requirements, thus it is unlikely to be affected or suffer any liquidity issues. Meanwhile, the foundation claimed it is pursuing all legal means to recover its funds. Part of those efforts led to the appointment of Algorand Foundation nominees as interim judicial managers to “identify, preserve, and protect Hodlnaut’s assets until further court action begins.”

▌NFT Mints On Solana Hits All-Time High!

According to The Block Research's Data Dashboard, the number of NFTs minted on Solana surged to a high of 312,000 on Sept. 7. At the same time, Solana-based NFT volumes have risen, with the total volumes across marketplaces hitting $11.5 million on Sept. 6 — the highest level since May. Magic Eden, which launched as a marketplace dedicated to Solana NFTs, has seen its market share grow from 12% at the beginning of September to 36.6% on Sept. 7. The heightened activity around Solana-based NFT trading represents a bright spot in the broader NFT market. Volumes across popular NFT marketplaces have failed to recover from a precipitous drop earlier this year.

▌MicroStrategy To Reinvest $500M Stock Sales Into Bitcoin: SEC Filing

MicroStrategy, the largest institutional Bitcoin (BTC) buyer, entered an agreement with two agents to sell its aggregated class A common stock worth $500,000,000. The company amassed approximately 129,699 BTC over several years at an aggregate purchase price of $3.977 billion. Buying the dip is essential for MicroStrategy as the company’s BTC reserve has dipped to an aggregated value of nearly $2.8 billion — resulting in a loss of over $1 billion, as shown by Bitcoin Treasuries data.