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Foreign Ministry responds again to high-level China-U.S. economic and trade talks: China's determination to safeguard legitimate rights and interests will not change
BlockBeats news, on May 8, spokesperson Lin Jian hosted a regular press conference. A Bloomberg reporter asked whether the U.S. side's spokesperson stated that if the U.S. wants to resolve issues through negotiations, it must be prepared to correct wrong practices, cancel unilateral tariffs, and take action. Is this the bottom line for both sides in negotiations? Can the spokesperson comment further?
Lin Jian stated, 'Regarding the high-level China-U.S. economic and trade talks, we have clearly articulated China's position yesterday. Please keep an eye on the specific circumstances of the talks. As a principle, I can add that China's determination to safeguard its legitimate rights and interests will not change, and its stance and goals of upholding international fairness and justice and maintaining the multilateral trading system will not change.' (Jinshi)
Lin Jian stated, 'Regarding the high-level China-U.S. economic and trade talks, we have clearly articulated China's position yesterday. Please keep an eye on the specific circumstances of the talks. As a principle, I can add that China's determination to safeguard its legitimate rights and interests will not change, and its stance and goals of upholding international fairness and justice and maintaining the multilateral trading system will not change.' (Jinshi)
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Daily active account number of Monad test network plummets, recently maintaining around 1 million
BlockBeats news, on May 8, according to on-chain data, the daily active account number of the Monad test network has plummeted since the beginning of May, with a peak of 9.77 million observed on April 30, while this data has remained around 1 million in the recent 5 days.
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The Entangled History Between Dingaling and Binance CZ
On May 6, when CZ tweeted that the well-known NFT whale and boop.fun founder Dingaling was 'a former employee fired by Binance for insider trading' and a 'fake CRO', the market felt confused in shock while eating melons. Just about 6 hours before CZ's tweet, Binance Alpha had announced the launch of the boop.fun platform token $BOOP and airdropped it to users who met the Alpha points criteria.
It seems that the matter is over, yet it also seems not to be. After CZ's 'face-to-face attack,' Dingaling did not respond to CZ's ruthless tweet, but he also did not change his Twitter bio. This can be seen as a form of 'silent rebuttal.'
It seems that the matter is over, yet it also seems not to be. After CZ's 'face-to-face attack,' Dingaling did not respond to CZ's ruthless tweet, but he also did not change his Twitter bio. This can be seen as a form of 'silent rebuttal.'
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OKX Research Institute: The 10-Year Evolution Endgame of Account Abstraction, Looking at the Past and Future through EIP-7702
Original title: (OKX Research Institute | The 10-Year Evolution Endgame of Account Abstraction, Looking at the Past and Future through EIP-7702)
Original author: shisilu, OKX Research Institute
Pectra is the first major upgrade following Ethereum Dencun, encompassing the Prague execution layer hard fork and Electra consensus layer updates, integrating the most EIPs in history, significantly enhancing validator flexibility, network scalability, and execution efficiency. With the Ethereum mainnet Pectra hard fork expected to officially activate on May 7, 2025, the 'ultimate form' of account abstraction (Account Abstraction) - EIP-7702 - has also officially entered public view!
Original author: shisilu, OKX Research Institute
Pectra is the first major upgrade following Ethereum Dencun, encompassing the Prague execution layer hard fork and Electra consensus layer updates, integrating the most EIPs in history, significantly enhancing validator flexibility, network scalability, and execution efficiency. With the Ethereum mainnet Pectra hard fork expected to officially activate on May 7, 2025, the 'ultimate form' of account abstraction (Account Abstraction) - EIP-7702 - has also officially entered public view!
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A whale has withdrawn 538,000 PENDLE from CEX again, with an overall unrealized profit of $1.55 million
BlockBeats news, on May 8, a whale/institution that has been continuously withdrawing and accumulating PENDLE from Binance since the end of March has withdrawn 538,000 PENDLE (approximately $1.83 million) from Binance in the past half hour.
This address has accumulated a total of 3.702 million PENDLE (approximately $11.04 million) through 6 addresses over the past month since the end of March, with an average price of $2.98. It has currently realized a profit of $1.55 million (+14%).
This address has accumulated a total of 3.702 million PENDLE (approximately $11.04 million) through 6 addresses over the past month since the end of March, with an average price of $2.98. It has currently realized a profit of $1.55 million (+14%).
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Swedish central bank maintains policy interest rate at 2.25%
BlockBeats news, on May 8, according to market news, the Swedish central bank maintains the policy interest rate at 2.25%, as expected.
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TIA briefly rises over 20%, currently reported at $2.841
BlockBeats news, on May 8, possibly affected by the news that 'Upbit will list TIA', TIA briefly rose over 20%, currently reported at $2.841.
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IO briefly surged over 50% before falling back, currently reported at $0.928
BlockBeats news, on May 8, influenced by the news that 'Upbit will list IO', IO briefly surged over 50% before falling back, currently reported at $0.928.
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Bitcoin volatility drops to 2.34%
According to BlockBeats news on May 8, based on Coinglass data, Bitcoin's volatility has decreased to 2.34%, marking a downward trend for three consecutive days.
The high volatility of Bitcoin is often associated with speculative trading and retail FOMO sentiment. When volatility decreases, it may indicate a reduction in short-term speculators, and the market enters a consolidation phase or a 'cooling period.' Additionally, Bitcoin's price fluctuations are often linked to macroeconomic events, such as inflation expectations, interest rate changes, or geopolitical risks. When these external factors stabilize, Bitcoin's volatility may decrease accordingly.
The high volatility of Bitcoin is often associated with speculative trading and retail FOMO sentiment. When volatility decreases, it may indicate a reduction in short-term speculators, and the market enters a consolidation phase or a 'cooling period.' Additionally, Bitcoin's price fluctuations are often linked to macroeconomic events, such as inflation expectations, interest rate changes, or geopolitical risks. When these external factors stabilize, Bitcoin's volatility may decrease accordingly.
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CryptoDep: Binance and Gate.io occupy the top two positions in the CEX market share for April 2025
BlockBeats news, May 8, CryptoDep released the latest data showing that in April 2025, Binance ranked first in market share of centralized exchanges (CEX) with a 38% share, followed closely by Gate.io with 9%, ranking second.
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HTX DeepThink: Truth Social's new token may open a new era of tokenization for U.S. stocks
BlockBeats reported that on May 8, HTX Research analyst Chloe (@ChloeTalk1) pointed out in the latest issue of HTX DeepThink that the DJT token proposed by Trump's media technology group may become the first utility token led by a publicly listed media company in the U.S., implementing real social application scenarios, marking a deep integration of U.S. stocks and on-chain asset forms.
Chloe believes that DJT, leveraging political IP, social popularity, and a genuine ecological closed loop, is expected to break away from the logic of Meme speculation and become a cryptocurrency with growth potential.
In addition, Chloe analyzed the Federal Reserve's decision to maintain interest rates on May 8, pointing out that it is facing dual pressures of slowing inflation and fiscal constraints, and that hasty rate cuts may raise concerns about the independence of its monetary policy.
Chloe believes that DJT, leveraging political IP, social popularity, and a genuine ecological closed loop, is expected to break away from the logic of Meme speculation and become a cryptocurrency with growth potential.
In addition, Chloe analyzed the Federal Reserve's decision to maintain interest rates on May 8, pointing out that it is facing dual pressures of slowing inflation and fiscal constraints, and that hasty rate cuts may raise concerns about the independence of its monetary policy.
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Current funding rates for mainstream CEX and DEX show that the market has tilted towards bullish trading
BlockBeats News, on May 8th, according to Coinglass data, the current funding rates for mainstream CEX and DEX show that the market has tilted towards bullish trading. The specific funding rates for mainstream cryptocurrencies are shown in the attached image.
BlockBeats Note: Funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of the underlying assets, usually applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee, which is used to adjust the costs or returns of traders holding contracts to keep the contract price close to the price of the underlying asset.
BlockBeats Note: Funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of the underlying assets, usually applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee, which is used to adjust the costs or returns of traders holding contracts to keep the contract price close to the price of the underlying asset.
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Abraxas's latest ETH position has an unrealized profit of 1.98 million USD, taking only about 8 hours.
BlockBeats news, on May 8th, according to ai_9684xtpa monitoring, Abraxas Capital Mgmt withdrew 21,999 ETH from Kraken about 8 hours ago, worth 39.92 million USD, with a withdrawal price of 1,814 USD, currently with an unrealized profit of 1.98 million USD.
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Facing the New Realities of Crypto: HODL is Dead, DAOs are a Joke, Goodbye DeFi
Original Title: Crypto's New Realities: HODL is Dead, DAOs are LMAOs, Bye DeFi and More
Original author: Ignas, DeFi Research
Original translation by: Shen Chao TechFlow
The reason the crypto market fascinates me as part of finance and trading is that it clearly tells you what is right and wrong. Especially in this chaotic world, where the boundaries between truth and lies are blurred in many industries, including politics, art, journalism, and many others. However, cryptocurrency is simple and straightforward: if you are right, you make money; if you are wrong, you lose money. It's that simple.
Original author: Ignas, DeFi Research
Original translation by: Shen Chao TechFlow
The reason the crypto market fascinates me as part of finance and trading is that it clearly tells you what is right and wrong. Especially in this chaotic world, where the boundaries between truth and lies are blurred in many industries, including politics, art, journalism, and many others. However, cryptocurrency is simple and straightforward: if you are right, you make money; if you are wrong, you lose money. It's that simple.
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A certain whale withdraws 50 billion PEPE from CEX, worth 4.36 million dollars
BlockBeats news, on May 8, according to EmberCN monitoring, 1 hour ago, a certain whale withdrew 50 billion PEPE ($4.36M) from Binance to an address. This whale has withdrawn a total of 200 billion PEPE from Binance in the last 8 days, worth 17.9 million dollars, with an average price of 0.00000895 dollars.
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Binance Alpha will launch gorilla
BlockBeats news, on May 8th, Binance Alpha announced the launch of gorilla.
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Gorilla briefly surged over 110% before falling back, with a market value currently reported at 6.64 million USD
BlockBeats news, on May 8, possibly due to the news that 'Binance Alpha will launch gorilla', gorilla briefly surged over 110% before falling back, with a market value currently reported at 6.64 million USD.
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Net inflow of 566.59 BTC in CEX in the past 24 hours
BlockBeats news, on May 8, according to Coinglass data, the total net inflow of CEX in the past 24 hours was 566.59 BTC, with the top three CEX by inflow as follows:
Kraken, inflow of 1121.07 BTC;
Bitfinex, inflow of 381.42 BTC;
Coinbase Pro, inflow of 369.96 BTC.
In addition, Binance had an outflow of 538.95 BTC, ranking first in outflows.
Kraken, inflow of 1121.07 BTC;
Bitfinex, inflow of 381.42 BTC;
Coinbase Pro, inflow of 369.96 BTC.
In addition, Binance had an outflow of 538.95 BTC, ranking first in outflows.
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Institution: The Bank of England is expected to cut rates by another 75 basis points this year
BlockBeats news, on May 8, Pantheon Macroeconomics Chief UK Economist Robert Wood stated that the forecasts for UK economic growth in 2025 and 2026 have been downgraded, now expecting the country's GDP to grow by 0.9% and 1% in 2025 and 2026 respectively, down from previous estimates of 1.1% and 1.5%.
Although the inflation rate has fallen to 2.6% in March, it is expected that inflation will rise sharply in the coming months, potentially reaching 3.4% in the second quarter and only dropping to 3.3% by the end of the year.
Most of the data since the last forecast assessment would typically keep the MPC in a position of absolute caution. However, U.S. President Trump's tariffs have disrupted the global economy and unsettled financial markets. In this context, Pantheon Macroeconomics expects the Bank of England to implement three more rate cuts of 25 basis points this year, including consecutive cuts in May and June, and a final cut in November. (Jin Ten)
Although the inflation rate has fallen to 2.6% in March, it is expected that inflation will rise sharply in the coming months, potentially reaching 3.4% in the second quarter and only dropping to 3.3% by the end of the year.
Most of the data since the last forecast assessment would typically keep the MPC in a position of absolute caution. However, U.S. President Trump's tariffs have disrupted the global economy and unsettled financial markets. In this context, Pantheon Macroeconomics expects the Bank of England to implement three more rate cuts of 25 basis points this year, including consecutive cuts in May and June, and a final cut in November. (Jin Ten)
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