The latest developments in the cryptocurrency space today mainly revolve around market fluctuations, policy trends, and project progress. Here are the selected news items:

1. Market Dynamics:

• Bitcoin (BTC) has experienced significant price volatility recently, breaking through $123,000 yesterday to hit an all-time high, but due to the U.S. PPI data exceeding expectations (3.3% vs 2.5%), it briefly fell below $118,000. Ethereum (ETH) also surpassed $4,700, nearing its historical peak.

• The meme coin market is highly optimistic, with Dogecoin ($DOGE) forming a golden cross, suggesting a potential price surge.

2. Policy and Regulation:

• The U.S. Treasury Secretary stated that Bitcoin confiscated by the federal government will be used for the strategic Bitcoin reserve established by Trump's March executive order, drawing market attention.

• Brazil plans to hold a hearing to discuss the Bitcoin strategic reserve, with speculation that the next country may follow a similar policy.

3. Projects and Platforms:

• Binance's Alpha platform will launch the Overlay Protocol (OVL), opening for trading on August 14, and eligible users can receive airdrops through Alpha points.

4. Industry Trends:

• The traditional financial sector in Hong Kong is showing strong interest in stablecoins and RWA (real-world assets), with banks and leading financial companies actively forming related teams, indicating a trend of integration between traditional finance and the cryptocurrency market.