Selected news
1. Trump announces the nomination of 'crypto-friendly' official Stephen Miran as a Federal Reserve Governor.
2. pump.fun launches the Glass Full Foundation to accelerate community development within the ecosystem.
3. The market cap of Solana on-chain token V2EX surpasses $20 million, reaching an all-time high.
4. Binance Alpha will launch Sidekick (K), with the first phase airdrop threshold set at 233 points.
5. Base ecosystem tokens see a widespread rally, with ZORA rising 30% in 24 hours.
Trending topics
Source: Overheard on CT (tg: @overheardonct), Kaito
XRP: Due to the settlement of the long-standing lawsuit between the SEC and Ripple, XRP has become a hot topic. Both parties have jointly withdrawn their appeals, ending nearly five years of legal disputes. This development has boosted community sentiment, accompanied by news of Ripple's $200 million acquisition of Rail Financial and market speculation about the approval of an XRP ETF.
LINK: Chainlink has launched the 'LINK Reserve Fund Program' to convert on-chain and off-chain revenues into LINK token reserves, aiming to support network development and token value anchoring in the long term. Currently, over a million dollars in LINK has been accumulated, and the ongoing repurchase mechanism of corporate revenue is expected to create supply shocks and drive up token prices.
MIM: Magic Internet Money (MIM) became popular after Coinbase released a meme tweet about MIM, which was subsequently retweeted by Elon Musk, causing its market cap to soar. As a native crypto meme project, MIM sparked community discussion again and is seen as a potential candidate for listing on mainstream exchanges, with positive investment sentiment.
AVAX: Avalanche has gained attention due to the launch of the zkVerified lending vault supported by Keyring Network and Euler Finance, enhancing its privacy and compliance features in the DeFi space. At the same time, its integration with eCash has improved the platform's scalability and security in the payment sector. The community is also full of expectations regarding Avalanche's potential in supporting privacy-first AI and custom L1 chains.
WLFI: WLFI has gained popularity due to the announcement of its USD1 points program, set to launch on multiple exchanges including Gate.io, HTX Global, KuCoin, MEXC, and LBank. The program encourages users to earn points through trading, holding, staking USD1, and using the WLFI App. It is claimed that this initiative is supported by the Trump family, aimed at boosting user growth and ecosystem activity of the USD1 stablecoin, sparking discussions about the resources and influence behind it.
Selected articles
1. (Why is he the most popular candidate for the Federal Reserve Chair?)
At the beginning of August, the personnel changes at the Federal Reserve, which had already been turbulent, suddenly accelerated—Governor Adriana Kugler unexpectedly resigned, and the head of the Bureau of Labor Statistics was also personally dismissed by Trump on the day the non-farm data was released. Just as the market had not fully digested the personnel upheaval, the White House clearly stated: 'A decision on the Federal Reserve Chair will be made this weekend.'
2. (Can tokenized Pre-IPO stocks break down the barriers in the private equity market?)
Although the private equity market offers high returns, it is still primarily aimed at institutional investors and high-net-worth individuals, making it difficult for ordinary investors to participate. Tokenization can address the limitations of the traditional financial system in terms of liquidity, accessibility, and convenience, but significant legal and technical barriers remain. Projects like Ventuals, Jarsy, and PreStocks are exploring different approaches to tokenizing private equity. Although these attempts are still in their early stages, they have already shown potential to reduce structural barriers in the market.
On-chain data
On August 8, on-chain capital flow situation.
