1. Market Dynamics: The cryptocurrency market is steadily rising. Total Market Capitalization: According to CoinMarketCap data, the global cryptocurrency market capitalization has reached $4.14 trillion, up 0.92% in the last 24 hours.
BTC and ETH Performance: Bitcoin (BTC) price fluctuates in the range of 115,000-118,000 USDT, currently around 115,315 USDT, down 2.72% in the last 24 hours.
Ethereum (ETH) has dropped below 4,400 USDT, currently around 4,397 USDT, down 4.30% in the last 24 hours, but supported by ETF inflows and corporate accumulation, bullish in the long term.
Market Sentiment: Despite short-term volatility, the market grew by 13% in July, with Ethereum performing strongly due to ETFs and corporate investments.
2. Latest Binance Updates New Products Launch: Binance will launch XPLUSDT perpetual contracts on August 22, supporting up to 5x leverage, with pre-trading already opened.
The Binance Alpha platform has recently launched several new projects, including PublicAI (PUBLIC), XPIN Network (XPIN), FreeStyle Classic (FST), etc., allowing users to participate in airdrops through Alpha points.
Binance Square Event: From August 21 to September 21, Binance Square, in collaboration with CreatorPad, is launching a KAVA token reward event, where verified users can share a $100,000 KAVA reward.
Adjustments and Optimizations: Binance will adjust the tick size of some USDⓈ-M perpetual contracts on August 25 to enhance market liquidity and user experience; existing orders will not be affected.
3. Major Industry Events Regulation and Compliance: The U.S. Department of Justice seized $2.8 million in cryptocurrency related to a ransomware case, indicating increased government oversight on crypto crime.
The U.S. Federal Reserve has terminated the 'New Activities' regulatory program, returning crypto and fintech businesses to the standard regulatory framework.
ETF Craze: On August 18, the ETH spot ETF raised about $1 billion, led by BlackRock's iShares, indicating a surge in institutional interest in ETH.
DeFi and Stablecoins: The Osmosis protocol has accumulated over $20 million in revenue, supporting stakers and community growth.
The stablecoin market is expected to reach $1.2 trillion by 2028, which may affect U.S. Treasury yields.
Pi Network Update: The price of Pi has dropped to $0.39, and the community's expectations for its listing on Binance on August 15 have not been met. Analysts believe that improvements in the public mainnet and token economics are needed.
4. Project and Technical Progress Ethereum Ecosystem: The ETH staking withdrawal queue has reached 818,300 ETH (approximately $3.72 billion), with an entry queue of 362,300 ETH, indicating strong staking demand.
ETH price has formed a bullish flag pattern, breaking through the resistance level of $3,770, targeting $6,100, with exchange ETH supply dropping to a nine-year low of 12.36%.
Other Chains: Aave V3 has been deployed to the Aptos blockchain, marking its first venture into non-EVM chains.
The Solana Seeker phone will ship on August 4, with over 150,000 units pre-ordered, promoting the adoption of Web3.
Hedera and Stablecoins: Hedera collaborates with Binance to hold an AMA in March discussing Circle's USDC integration, strengthening the application of stablecoins in the network.
5. Risk Warning Market Volatility: Recently, the market experienced $22.9 million in liquidations, with BTC and ETH liquidated at $36.43 million and $94.87 million respectively, warranting caution regarding leverage risks.
Token Unlocking: On August 26, Huma Finance will unlock $13 million in tokens, accounting for 21.5% of circulating supply, which may bring selling pressure.
Security Incident: A user lost 783 BTC (about $91.4 million) due to social engineering fraud, reminding everyone to strengthen wallet security awareness.
Share your thoughts! What do you think about the ETH ETF craze? Will it drive a new bull market?
Among the new projects on Binance Alpha, which one do you have the most confidence in?
What is the future outlook for Pi Network? Feel free to discuss at Binance Square!
Disclaimer: The above information is for reference only and does not constitute investment advice. The cryptocurrency market is highly volatile; investors should exercise caution and conduct their own research.
