The market is strongly rising 📈

In the past 24 hours, the crypto market has risen by 3.42%! The overall market cap has surpassed a new high of $4.28 trillion.

  • Bitcoin (BTC) skyrocketed to $123,700, breaking the historical record, with a rise of 3%.

  • Ethereum (ETH) is also not backing down, rising 2.2% and breaking through $4,700.

  • The Layer 2 sector is impressive, with a rise of 7%, among which Mantle increased by 10% and Arbitrum skyrocketed by 15.5%! It seems investors are really 'buying, buying, buying' on scaling solutions, looking forward to a faster and cheaper on-chain experience.

OKX is making big moves: X Layer upgrade, major adjustments to OKB 🔧

  • OKX has given its Layer-2 public chain X Layer a 'PP upgrade', introducing Polygon's latest chain development toolkit, with transaction speeds soaring to 5,000 per second and fees dropping to almost free! 🤯

  • The upgrade makes X Layer more compatible with Ethereum and enhances security. OKX is also preparing to increase ecological investments, with new funds and liquidity rewards to support DeFi, cross-border payments, and the landing of digital assets.

  • Big news: OKB token transformation, X Layer will exclusively use OKB as gas and local token, gradually phasing out OKB's support on the Ethereum mainnet. To stabilize supply, over 65 million OKB (worth about $7.6 billion) have been beautifully destroyed, locking the total supply at 21 million, with no further issuance or destruction.

  • OKTChain is gradually phasing out, with trading stopping on August 13 and closing in 2026. OKB recently soared by 200%, and investors are thrilled!

Bullish exchange makes a stunning debut with an IPO 🚀

  • Bullish Exchange (NYSE ticker BLSH) had an explosive performance on its first day of listing! The issue price was $37, opening at $102, peaking at $118 during the day, finally closing at $70, and rising another 10% after hours.

  • Valued at nearly $15.8 billion, with over $1.1 billion in funding. This achievement shows that institutions are increasingly enthusiastic about compliant crypto companies, likely driving more digital asset firms to the public market, making it more规范 (standardized) and more transparent.

The GMX compensation event has concluded perfectly 💰

  • The decentralized exchange GMX has fixed vulnerabilities on the Arbitrum chain and initiated $44 million in compensation, including assets like BTC, ETH, and stablecoins; affected users can apply through the GMX dApp.

  • After the attacker returned the stolen funds for a $5 million bounty, GMX's quick handling won user trust. On the same day, Arbitrum tokens surged nearly 20%, and the sense of security immediately increased!

MetaMask is preparing to launch a new stablecoin mUSD 💵

  • MetaMask plans to launch the dollar-pegged stablecoin mUSD by the end of August, in collaboration with Stripe-supported Bridge payment infrastructure, M^0 protocol issuance, and Blackstone custody participation.

  • This mUSD will strictly comply with the latest GENIUS Act requirements, ensuring a 1:1 dollar high-quality reserve, with monthly public reserve details, strengthening KYC/AML compliance.

  • The goal is to make on-chain payments more secure and convenient, allowing both institutions and individuals to use them easily; stablecoin payments are on the way!

Summary 🌟

The market is so lively, every piece of news reveals that the crypto world is 'speeding up and reducing costs', from Layer 2 scaling, fuel coin reforms, to the launch of secure and transparent stablecoins, the experience of investors and users is upgrading. Wallet balances are swelling, not just a pie in the sky, but real on-chain convenience.

The above content is for information sharing only and does not constitute any investment advice! Investing carries risks, and one should be cautious when entering the market!

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