Grayscale Trust launches the first XRP fund in the United States, and this is no joke. Grayscale is the big brother in the circle, and every trust fund it launches seems to make the market dance with excitement. This time they plan to launch an XRP trust fund, which not only provides investment opportunities for qualified investors, but also hints that an XRP ETF may be launched in the future. Do you think this is big news? Friends in the cryptocurrency circle may have already started saving XRP and preparing for the future rise. Next, eToro agreed to pay a $1.5 million fine and reached a settlement with the US SEC. Does this seem like a small amount? But this amount of money is not just a small amount! More importantly, eToro also plans to stop trading most crypto assets. This is a bombshell, and many users may have to look for other platforms. Maybe this adjustment will force everyone to have a deeper understanding of the functions of other platforms.
Recently, a lot of interesting things have happened on Solana. Cryptocurrency and the US stock market have "broken up", and big news such as interest rate cuts have had less impact on it. What's more interesting is that the Meme coins on Solana have gradually faded, while some smart automated robots have made a lot of money.
However, many people have complained about Solana's problems, such as the network is sometimes unstable, storage costs are high, and even many applications are too dependent on a single client. This makes some people doubt its future, but some people think that this is a period like "exploring the new world". As long as everyone does not lose confidence, there is still a lot to do.
In order to make Solana more powerful, the community is constantly optimizing the network. For example, some teams have introduced new technologies to reduce transaction conflicts and improve network efficiency. At the same time, they are also studying faster "Rollup" solutions to try to further increase transaction speed.
Staking is also a hot topic. Solana's staking method is relatively simple and has little contractual risk, so most people choose this method. Some new players have entered the LST market, liquidity has increased, and platforms such as Jito have occupied the remaining market share using MEV allocation.
Solana will have more and more uses in the future, from Helium 5G networks to AI applications, and even payment systems are linked to cryptocurrencies. With new ways of playing such as prediction markets and innovative business models, Solana's ecosystem is becoming more and more rich.
In general, Solana is evolving rapidly, with challenges but also opportunities. As long as we keep working hard, the future will definitely become more and more interesting.
Today's big event analysis: What changes will the upgrade of MATIC to POL bring?
After MATIC was upgraded to POL, some important changes have taken place in the token economics, which will also affect the future value of the token.
First of all, Polygon has announced two major plans before. One is to upgrade the Polygon PoS chain to the ZkEVM Validum chain to improve network speed and scalability; the other is to migrate MATIC 1:1 to POL tokens. This migration will start on September 4, 2024. MATIC holders can automatically complete the token conversion through some CEX platforms (such as Binance and OKX), and can also be manually migrated on DEX platforms.
The launch of the POL token has brought about adjustments in token economics. The previous inflation reward of the MATIC token of the Polygon network has ended. In order to continue to maintain the enthusiasm of validators, Polygon plans to add 200 million POLs as rewards every year for 10 years. If the price of POL is $0.5, then this part of the reward is worth about $100 million per year. In addition to this basic reward, Polygon has designed more incentives, such as providing additional benefits to validators through the AggLayer technology stack and liquidity layer.
After staking, the staker (that is, the coin holder) can not only obtain benefits by minting new coins, but also charge fees from the aggregator in the network, or obtain additional token rewards from other chains. There will be more forms of rewards in the future, such as shared sorting benefits and zero-knowledge proof benefits.
From the demand perspective, this upgrade will increase the demand driven by staking. Currently, the number of people participating in MATIC staking is less than 33,000, and the staking yield is about 5.65%. After the upgrade, the yield is expected to rise to 7-8%, and with the application of AggLayer and other projects, the yield may be further improved. In addition, some projects may airdrop additional token rewards in the future, like Celestia, to further attract more users to participate in staking, and even let the number of stakers reach more than 100,000.
In general, this upgrade is a good time to promote the transformation of MATIC. With the advancement of Polygon technology and the increase of partners, the demand and value of POL tokens may increase significantly. #PolygonPOL #MATIC✅.
1. Penpie hackers exchanged the stolen assets for more than 21,000 ETH, part of which has been transferred to Tornado Cash; 3. In the past 24 hours, the entire network has been liquidated for $194 million, and BTC has been liquidated for $52.8153 million; 4. Penpie (PNP) fell below 1 USDT, with a 24-hour drop of nearly 40%; 4. Ethereum L2 transaction fees have dropped significantly in the past 6 months, and L1 revenue has dropped by 99%; 5. Pendle: The protocol funds are safe. All contract operations have been temporarily suspended due to the Penpie vulnerability. 6. US SEC: About half of Galois Capital's assets under management were lost due to the collapse of FTX in November 2022;
1. **France and Russia’s diplomatic tussle**: Kremlin spokesman Dmitry Peskov warned France not to take political action in the case of Telegram CEO Pavel Durov, saying the charges against Durov could be seen as “zz persecution”. French President Macron stressed that the case will be handled independently by the French judicial system.
2. **Trump’s crypto project and vision of a global crypto capital**: Former US President Trump launched a crypto project called “World Liberty Financial” and declared that he would make the United States the global “crypto capital”. He also launched his fourth NFT series.
3. **El Salvador’s Bitcoin policy**: Salvadoran President Nayib Bukele said that although Bitcoin has not been widely adopted in the country, it has indeed brought more foreign investment and tourism development.
4. **US Congressional Crypto Hearing**: The House Financial Services Committee plans to hold a series of hearings on cryptocurrencies in September, covering topics such as DeFi, SEC regulation and the “pig killing” scam.
5. **Ethereum DApp transaction volume rises**: Ethereum's decentralized application (DApp) transaction volume increased by 36% in the past week, but ETH prices failed to keep up, and market sentiment was mixed.
6. **Global fiat currency entrance for Sony's blockchain project**: Sony's blockchain project Soneium has partnered with Transak to provide a global fiat currency entrance, which is expected to promote NFT transactions within the gaming community.
7. **Crypto.com and Standard Chartered Bank cooperate**: Crypto.com has partnered with Standard Chartered Bank to launch a global retail service. Next month, customers in the UAE will be able to easily buy and sell cryptocurrencies through Crypto.com.
1. Pavel Durov granted bail Telegram founder left quietly after being released on bail in a French court. 2. NVIDIA's financial report exceeded expectations NVIDIA's second-quarter revenue grew 122%, exceeding market expectations. 3. TON network returns to normal TON network recovers after experiencing a block interruption, and asset withdrawals will be recorded. 4. OpenAI's financing valuation exceeds 100 billion OpenAI plans a new round of financing, and its valuation may exceed 100 billion US dollars. 5. US ETH and BTC ETF fund outflows The US ETH and BTC ETFs have recently seen large-scale net outflows of funds. 6. BNB Chain launches cross-chain bridges BNB Chain cooperates with multiple parties to improve cross-chain connectivity and liquidity. 7. WebX conference discusses Web3 technology Tokyo WebX conference emphasizes the importance of Web3 and plans tax reforms to support start-ups. 8. Hong Kong launches Ensemble sandbox project The Hong Kong Monetary Authority launches the Ensemble project, focusing on asset tokenization. 1.#CryptocurrencyNews2.#BlockchainUpdate3.#PavelDurov4.#NVIDIAEarnings5.#TONNetwork6.#OpenAIFunding7.#BNBChain8.#WebXConference9.#HongKongFinance10.#EthereumETF11. #BitcoinETF
$DOGS On August 29, according to Xinhua News Agency, the Paris prosecutors announced on the 28th that Pavel Durov, the founder and CEO of the social media Telegram who was arrested in France, was prosecuted after the end of his detention that day. He was released on bail under judicial supervision, but was not allowed to leave France. Paris prosecutor Lore Betcuot said in a press release that Durov was prosecuted on the evening of the 28th. He was released on bail under judicial supervision, but he had to pay a deposit of 5 million euros, report to the police station twice a week, and was prohibited from leaving French territory. According to previous news, relevant French government departments are investigating illegal activities such as fraud, drug trafficking, organized crime, child pornography, and promotion of terrorism on the "Telegram" platform. Durov was accused of not taking corresponding measures to prevent these crimes. The Paris prosecutors issued a press release on the 26th saying that the Paris prosecutors began a judicial investigation involving 12 charges on July 8 this year, which was not targeted at specific people, and Durov was arrested for this.
$DOGS According to BWENEWS, Telegram founder and CEO Pavel Durov has not been released yet and has been transferred from the police to the court. The outcome of the case has not yet been determined.
The market shows that TON has just risen sharply by more than 10%, reaching a high of around $6, and then quickly fell to around $5.6, perhaps due to the false news of "Pavel Durov being released" in the market.
Personal opinion: In France, whether bail can be granted depends on the specific circumstances of the case and the judgment of the court. Generally speaking, if the suspect is not considered to be at risk of escaping, destroying evidence or posing a threat to society, the court may agree to bail.
In cases involving public figures and major cases such as#PavelDurov, the possibility of bail will be affected by more factors, such as the nature of the case, social impact, the identity of the suspect, and other legal considerations. Whether bail is finally allowed depends on the decision of the court. If the court believes that his release will not have a negative impact on the investigation or trial process and complies with relevant legal provisions, I think bail is possible.
July 28th, noon Crypto Market and Web3 Dynamics Briefing
Recently, there have been several noteworthy developments in the crypto market. Analysts pointed out that the restricted sale period of Bybit and FTX platform coins is coming to an end, and the price difference between the two parties has exceeded 53 million US dollars. Igneus Terrenus, head of public relations at Mantle, responded quickly to this, making it clear that Bybit did not issue CEX tokens, BIT is the governance token of BitDAO, and the BIT held by Alameda is restricted from migrating to MNT. The two parties are currently in legal proceedings. This incident reflects that there are certain misunderstandings in the market's understanding of these platform coins, and it also foreshadows possible legal risks in the future. The future direction of platform coins may have a greater impact on market sentiment.
▌Bitcoin tycoons make another move! Marathon Digital borrows money to buy coins, and it's a heartbeat! ▌Bitcoin tycoons make another move! Marathon Digital borrows money to buy coins, and it's a heartbeat!
Bitcoin mining company Marathon Digital has also recently made trouble, imitating MicroStrategy's routine and borrowing $300 million to buy Bitcoin. It seems that it is going to gamble big. Miners know that mining is becoming more and more difficult, so they have to deal with the challenge in this way of "buying, buying, buying".
▌Bitwise's big move: to acquire Osprey's Bitcoin trust assets!
Bitwise has also been preparing to acquire Osprey's Bitcoin trust assets recently. This means that investors holding Osprey funds will be exchanged for Bitwise shares. Friends who are interested in Bitcoin, this is big news!
This morning, the cryptocurrency market was a little "bad mood" and fell sharply. Our old friend Powell secretly released a small Easter egg of interest rate cut last week, and the market started to "get angry" today. It seems that the market is still digesting the little hint of this "Fed uncle", who is really a "slow person"!
▌"Debate drama" is back: Trump and Harris's verbal battle is coming!
There is always excitement! Trump just spoke on his social platform. On September 10, he will have a "head-on" debate with Vice President Harris. Trump has made a statement this time, without cheat sheets, and he will go on stage openly! Harris, not to be outdone, asked to keep the microphone on throughout the debate. It seems that this debate is going to be "sparkling".
Oh, by the way, Trump also took the opportunity to make a fortune-launching a new batch of NFT trading cards. What's so special about this card? It actually contains the fragments of the suit he wore during the debate with Biden! What's the price? $24,750! It really makes people sigh: "The president's suit is so valuable!"
▌Who do voters prefer? "Close combat" on economic policy!
The latest survey results are here: American voters prefer Trump's "routine" on economic policy, with a support rate of 43%, three percentage points higher than Harris. Although the gap is narrower than before, it seems that Trump's economic "magic" is still quite popular.
▌Are AI companies going to "take off their underwear"? California passes a data transparency bill!
Where does AI training data come from? California has just passed a new bill requiring these companies to lift their underwear - uh, I mean to be transparent, so that everyone can see what these AIs are "fed" to grow up. As for whether Governor Newsom will sign it, we have to wait and see.
▌New Crypto News: From Bitcoin ETF to Music Decentralization, All Are Playing "Fancy"
Let's take a look at the blockchain gossip! Ondo Finance recently found a new home for their income token USDY and moved it to Arbitrum. It seems that this wave of operations is intended to make everyone earn more and easier!
First, #PayPal's stablecoin $PYUSD has surpassed $1 billion in market cap! 🌐According to DeFillama, 63.96% of the $1.013 billion is on #Solana, while#Ethereumaccounts for 36.04%. Solana is clearly rising in the stablecoin ecosystem, while Ethereum's position remains solid. 📈
Next up,#Bitcoinscaling network#FractalBitcoinannounced that it will be launching mainnet on September 9th. 🚀 They decided to allocate 80% of tokens to the community, with a lock-up period for team and contributors. In this way, Fractal not only demonstrates its commitment to the community, but also lays a solid foundation for future governance and development. 💪