DeFi data
1. Total market capitalization of DeFi tokens: $160.405 billion
Total market capitalization of DeFi Data source: coingecko
2. Trading volume of decentralized exchanges in the past 24 hours: $97.51
Trading volume of decentralized exchanges in the past 24 hours Data source: coingecko
3. Locked assets in DeFi: $147.178 billion
Top ten rankings of locked assets in DeFi projects and the amount locked Data source: defillama
NFT data
1. Total market capitalization of NFTs: $21.886 billion
Total market capitalization of NFTs, top ten projects by market cap Data source: Coinmarketcap
2. 24-hour NFT trading volume: $2.703 billion
Total market capitalization of NFTs, top ten projects by market cap Data source: Coinmarketcap
3. Top NFTs in 24 hours
Top ten NFT sales increase in 24 hours Data source: NFTGO
Headline
US SEC Chair: The US SEC will immediately begin implementing the President's cryptocurrency recommendations
Golden Finance reports that Paul Atkins, Chair of the U.S. Securities and Exchange Commission, announced that the agency will act swiftly to implement the recommendations from the President's working group on cryptocurrency regulation. This move aims to promote innovation in the digital asset market and provide greater clarity. Specifically, the plan seeks to shift from an enforcement-driven regulatory approach to a rules-based approach, thereby achieving a balance between investor protection and technological advancement. Notably, Atkins revealed this information at a blockchain seminar in Wyoming. The core of this vision is the President’s Digital Assets Group, which will lead the next phase of U.S. digital asset regulation.
Gaming hotspots
1. Nasdaq-listed gaming company Snail establishes stablecoin subsidiary Snail Coins and launches strategic digital asset plan
Golden Finance reports that Nasdaq-listed independent interactive digital entertainment developer and publisher Snail, Inc. has announced the establishment of a wholly-owned subsidiary, Snail Coins LLC, which will operate as an independent entity responsible for the issuance, management, and operation of its USD-backed stablecoin project, along with other broader digital asset management programs. Additionally, Snail announced the launch of a strategic digital asset program to support capital formation for its stablecoin project's reserve assets.
2. Nasdaq-listed gaming company Snail establishes stablecoin subsidiary Snail Coins and launches strategic digital asset plan
Golden Finance reports that Nasdaq-listed independent interactive digital entertainment developer and publisher Snail, Inc. has announced the establishment of a wholly-owned subsidiary, Snail Coins LLC, which will operate as an independent entity responsible for the issuance, management, and operation of its USD-backed stablecoin project, along with other broader digital asset management programs.
DeFi hotspots
1. MANTRA chain proposes to completely migrate OM to its native chain, setting a cap of 2.5 billion
On August 20, it was reported that the MANTRA chain is voting on whether to completely migrate ERC20 OM to its native chain. The proposal 'OM Homecoming' aims to fully phase out ERC20 OM on Ethereum by January 15, 2026, and establish the MANTRA chain as the sole native foundation for OM. The proposal also suggests adjusting the inflation rate to 8%, aiming for an approximately 18% annual staking return, and setting a hard supply cap of 2.5 billion OM for the first time. Currently, about 250 million OM (28% of ERC20 supply) has been migrated to the MANTRA chain.
2. Dolphin ecosystem token DOP breaks $1.5, up over 38%
On August 20, it was reported that the Dolphin ecosystem token DOP broke $1.5, up over 38%. Market fluctuations are significant, please ensure proper risk control. Dolphin completed its mapping migration on PancakeSwap on August 19, marking the official start of a fully decentralized journey.
3. Analysis: Hedge funds are suspected to be the main force behind the current shorting of Ethereum
Golden Finance reports that due to Ethereum's price failing to break resistance levels as expected, a decline has occurred again. Analysts believe that the current bearish pressure in the market seems to be primarily driven by large hedge funds, which continue to short ETH in record numbers and attempt to push down ETH prices to stop losses. According to The Block's 'CME Ether Futures Net Position' dashboard, the number of Ethereum shorts has risen to unprecedented levels, with hedge funds' short positions nearly doubling in August: on August 5, the total short position driven by hedge funds was $2.3 billion, but this number has rapidly increased to $4.19 billion recently, indicating that hedge funds continue to expect a decline in Ethereum prices.
4. Magic Eden has now integrated the OKX DEX API
On August 20, it was reported that Magic Eden has now integrated the OKX DEX API, allowing users to enjoy seamless trading processes, low slippage, better quotes, and deep liquidity offered by OKX DEX, significantly enhancing on-chain trading efficiency and user experience. It is reported that the OKX DEX API aims to drive the expansion and diversification of the OKX DEX aggregator ecosystem by providing leading API solutions in the industry. Magic Eden is a cross-chain NFT marketplace that has built a user-friendly platform supported by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments to the blockchain, enabling users to create, discover, and collect unique NFTs.
5. MANTRA chain proposes to completely migrate OM to its native chain, setting a cap of 2.5 billion
On August 20, it was reported that the MANTRA chain is voting on whether to completely migrate ERC20 OM to its native chain. The proposal 'OM Homecoming' aims to fully phase out ERC20 OM on Ethereum by January 15, 2026, and establish the MANTRA chain as the sole native foundation for OM. The proposal also suggests adjusting the inflation rate to 8%, aiming for an approximately 18% annual staking return, and setting a hard supply cap of 2.5 billion OM for the first time. Currently, about 250 million OM (28% of ERC20 supply) has been migrated to the MANTRA chain.
Disclaimer: Golden Finance, as a blockchain information platform, provides articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment philosophy and enhance risk awareness.
