Featured News
1. CMB International launched the first on-chain public fund on Solana
2. CEX platform tokens surged, with BGB rising over 15% and GT over 30%
3. a16z proposed a regulatory safe harbor for DeFi project websites and apps to the SEC
4. Pump.fun officially repurchased 175.3 million PUMP tokens from the market in the past 24 hours
5. Ethereum withdrawal accelerated, with a net outflow of 182,400 coins from CEX over the past 24 hours
Trending Topics
Source: Overheard on CT (tg: @overheardonct), Kaito
[XMR]
Today's discussion about XMR mainly revolves around reports of the Qubic mining pool launching a 51% attack on the Monero network. It is claimed that this mining pool has controlled a majority of Monero's hash power, raising concerns about potential chain reorganization, double-spending attacks, and transaction censorship. There are differing opinions within the community regarding the sustainability and economic feasibility of this attack, with some claiming daily costs as high as $75 million, while others believe it could be as low as $7,000-10,000 per day. Despite the attack, some believe Monero will emerge stronger, while others emphasize the vulnerabilities present in its network.
[SUI]
SUI is receiving significant attention due to Grayscale's launch of investment trusts targeting the Sui protocol DeepBook and Walrus, expected to drive demand for SUI-related tokens. The Sui ecosystem is rapidly expanding through new products and collaborations, including integration with Dfns to provide secure wallet infrastructure and the launch of the native crypto payment product Sui Pay. Moreover, SUI's user growth is swift, with 2 million new accounts added in just one day. With scalability and efficiency, Sui is being viewed as a potential leader in the blockchain space.
[SURF]
SURF gained substantial attention on Twitter today, primarily due to its association with the AI Agent - Surf Copilot, a tool recognized for its practicality in crypto research and market analysis. Tweets highlighted Surf Copilot's capabilities in providing deep insights and strategies, making it a valuable tool for investors and researchers. Additionally, the recent price increase of the $CYBER token associated with Surf Copilot has further fueled market discussions, with users showing interest in its future growth potential.
[WAL]
Today's main discussion around WAL focuses on Grayscale's announcement of the launch of Walrus Trust, which is built on the Sui network and aims to provide scalable decentralized data management. This news has heightened market interest and recognition of the Walrus Protocol ecosystem, and the community is speculating about its potential listing on Kaito and the impact of community reward mechanisms. Walrus Trust and DeepBook Trust are seen as significant steps in bringing institutional funds into the Sui data and liquidity layer, further enhancing the credibility and adoption of the Sui ecosystem.
[PEPE]
Today's discussion about PEPE focuses on its significant market volatility and community activity. Notably, PEPE's price has surged recently, with some users claiming returns of up to 76 times. The community actively discusses its further growth potential, especially in comparison with other meme coins like DOGE and TROLL. Additionally, there are speculations about the influence of creator Matt Furie and discussions on the broader significance of meme coins in the crypto market. The conversation also emphasizes the role of platforms like BagsApp in monetizing meme content and PEPE's strategic positioning within the meme coin ecosystem.
Featured Articles
1. (Old Trees Reviving: The Summer Counterattack of Established DeFi Projects)
The DeFi market is welcoming a long-awaited "comeback of veterans" wave. As of now, the total locked value (TVL) in the DeFi market has risen to $197 billion, just a step away from the historical high of $206 billion. More importantly, the leaders of this rebound are not newly emerged projects, but a group of "veterans" who once shined during DeFi Summer. From the initial speculative demand to the current "old trees reviving." The collective growth of the DeFi market is driven by the acceleration of institutional funds entering (RWA, compliant lending, 401k crypto investment), the resurgence of retail demand for on-chain yields in a bull market, and new use cases brought by technological iteration. The return of veterans reflects market confidence and serves as a prelude to a new round of DeFi competition. BlockBeats has compiled in this article the main reasons for the recent surge in prices and TVL of DeFi "veteran players" such as Aave, Uniswap, Euler, Pendle, Fluid, and Spark.
2. (How will Circle make money next? CEO responds to profit model, bank competition, and Arc chain strategy)
On the first earnings report night after going public, Circle delivered a complex answer of "paper losses, operational growth": total revenue and reserve income for the second quarter were $658 million, a year-on-year increase of 53%, with adjusted EBITDA of $126 million, a year-on-year increase of 52%. At the same time, USDC continues to expand on the circulation side, ending with a circulating supply of $61.3 billion and a stablecoin market share of 28%. However, due to non-cash factors including significant stock compensation triggered by the IPO and changes in the fair value of convertible bonds totaling $591 million, the company recorded a net loss of $482 million. Outside of earnings report day, the competitive landscape of the industry was rapidly rewritten this summer. (GENIUS Act) officially clarified the boundary between "bank-issued stablecoins" and "licensed non-bank issuers." Circle's Chief Strategy Officer Dante Disparte stated in a recent interview: the real competition has just begun, and it is still uncertain whether banks will hastily issue coins. Circle's partnership landscape is also expanding.
On-chain data
On-chain capital flow situation for the week of August 13
