Golden Weekly is a weekly blockchain industry summary column launched by Jinse Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of this week's mainstream projects and star projects.
Bitcoin
Futu Securities plans to give away Bitcoin and stock rewards to certain users
"On the first day of our cryptocurrency trading service launch, the market response was relatively positive," said Steve Zeng, managing director of Futu Group, on Friday. Futu said it is the first online broker in Hong Kong to offer zero-commission cryptocurrency trading. In addition, in order to attract users, Futu also plans to give away Bitcoin and Alibaba and Nvidia shares to certain users who open an account and hold assets for a certain period of time. In addition, Futu is applying for the SFC's virtual asset trading platform license through its wholly-owned subsidiary PantherTrade. According to the SFC's website, PantherTrade has been included in the list of applicants "deemed to have been licensed."
Grayscale holdings data update: Bitcoin Mini Trust exceeds 30,000 BTC, GBTC market value drops to about $15 billion
Grayscale officially updated the Bitcoin and Ethereum fund data as of August 2, as follows: 1. Grayscale's spot Bitcoin ETF GBTC holdings are 240,140.0663 BTC, and its asset management scale (non-GAAP) has dropped to US$15,026,416,447.41, with 300,880,100 shares outstanding; 2. Grayscale Bitcoin Mini Trust BTC holdings are 30,226.9427 BTC, with an asset management scale (non-GAAP) of US$1,891,407,111.72, and 340,800,100 shares outstanding; 3. Grayscale's spot Ethereum ETF GBTC holdings are 240,140.0663 BTC, with an asset management scale (non-GAAP) of US$1,891,407,111.72, and 340,800,100 shares outstanding; ETHE's holdings decreased to 2,004,828.0171 ETH, its assets under management (non-GAAP) dropped to US$6,032,467,358.62, and the number of outstanding shares was 236,658,500; 4. Grayscale Ethereum Mini Trust ETH holds 353,880.1199 ETH, its assets under management (non-GAAP) is US$1,064,814,664.49, and the number of outstanding shares is 375,548,500.
Analysis: Bitcoin's correlation with the S&P 500 has been decreasing since June
Trader T on the X platform said that since June, Bitcoin has become less and less correlated with the S&P 500 index and has a low correlation with gold.
VanEck CEO: Bitcoin market value will reach half of gold's total market value
VanEck CEO said that Bitcoin's market value will reach half of the total market value of gold, reaching $350,000 per coin. In addition, VanEck CEO also said that if central banks adopt Bitcoin and become part of the financial system, its value will reach "millions."
In July, NFT sales on the Bitcoin chain reached approximately US$77.3 million, the lowest since November 2023
According to Cryptoslam data, the sales of NFTs on the Bitcoin chain in July were $77,311,729.1, the lowest record since November 2023. In addition, the number of NFT transactions on the Bitcoin chain in July was less than 120,000, also the lowest level since November 2023, with about 35,477 independent sellers and about 49,348 independent buyers.
Ethereum
IntoTheBlock: Ethereum Fees Reach Nine-Month Low
IntoTheBlock data shows that this week, Ethereum fees hit a nine-month low, with total fees of $18.2 million and gas costs falling to 1 gwei (a swap transaction costs about $1).
The Ethereum Foundation is suspected of exchanging 150 ETH for about 497,200 DAI
According to Arkham monitoring, in the past 10 minutes, the suspected Ethereum Foundation address (0xd7...c1f4) transferred 150 ETH to CoW Protocol, and then received 497,250 DAI from CoW Protocol. It is reported that since this year, the suspected Ethereum Foundation address (0xd7...c1f4) has sold ETH for DAI through Cow Protocol almost every week or every two weeks, and the amount is generally 50, 100 and 200 ETH.
Ethereum Foundation transfers approximately 3.48 million TAIKO to Bitcoin Suisse hot wallet
Arkham monitoring shows that the Ethereum Foundation address 0x97…dE4B transferred 3,484,000 TAIKO tokens (about 9.16 million US dollars) to the hot wallet of Bitcoin Suisse, an institutional-level crypto service platform, at 16:25 (UTC+8) today. The foundation address received these tokens from the Taiko mainnet on June 28 and then cross-chained to the Ethereum mainnet.
ARK Invest Buys $21 Million Worth of 3iQ Ethereum Collateralized ETF
Investment firm ARK Invest recently made its first purchase of $21 million worth of the Canadian 3iQ Ethereum Collateralized ETF (ETHQ.U), while simultaneously dumping $14.6 million of shares in Coinbase. The 3iQ Ethereum Collateralized ETF has grown significantly since its launch, up about 40% year-to-date. The fund aims to achieve long-term capital appreciation by investing in Ethereum and generate passive income through staking. ARK purchased 1 million and 651,713 shares of ETHQ.U through the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF, respectively.
Insider: Morgan Stanley is paying attention to the development of the Ethereum ETF market
According to people familiar with the matter, Morgan Stanley is watching the development of the newly approved spot Ethereum ETF market, but has not yet committed to providing its clients with access to these ETFs. Earlier, people familiar with the matter revealed that Morgan Stanley will provide its eligible clients with BlackRock and Fidelity's Bitcoin ETFs, namely: IShares Bitcoin Trust and Wise Origin Bitcoin Fund. People familiar with the matter said that only clients with a net worth of at least $1.5 million, active risk tolerance and a willingness to invest speculatively are suitable for participating in Bitcoin ETFs, and Morgan Stanley will monitor clients' cryptocurrency holdings to ensure that they are not overly exposed to this volatile asset class.
other projects
Kujira: A DAO will be established to manage the treasury and core protocols
The Kujira team published an article on the X platform, elaborating on the recent liquidity crisis and market panic. The team said that it had decided to use part of the operating funds for the liquidity and activity promotion of the ecosystem, a decision that was considered reasonable at the time. However, a series of events that followed, including security vulnerabilities and social engineering attacks, led to market instability. Some "influencers" on social media mistakenly called this situation "running away", which is not true, but it undoubtedly exacerbated the panic in the market. The team reiterated that there are still 14 million KUJI in the foundation treasury that is safe and sound, and the statement that the entire treasury is at risk is inaccurate. In order to enhance transparency and accountability mechanisms, Kujira will establish an operating DAO (Kujira Operational DAO) to manage the treasury and core protocols. The DAO's first priority is to safely reduce debt, and plans to provide discounted KUJI to the community through Fuzion's bond products, and set up multiple maturity and vesting plans to reduce the impact on long-term prices.
Fantom has changed its name to Sonic Labs and will launch the EVM chain Sonic in Q4
Fantom announced at X that it has changed its name to Sonic Labs. Sonic Labs plans to gain support by introducing a large-scale incentive program, and Sonic will use the S token. This new token will enter the ecosystem through large-scale airdrops, simplified staking, incentive programs, etc. Although the transition from Fantom to Sonic Labs has been completed, the launch of Sonic will not be until Q4. According to the description provided on the Sonic Labs launch page, Sonic is a Layer-1 platform with a secure gateway to Ethereum.
Telegram officially launches in-app browser and mini-app store
Telegram launched an in-app browser with support for decentralized web pages, a mini-app store, and other improvements in a July 31 update.
Binance Labs Invests in L1 Solution Particle Network
Binance Labs announced that it has invested in Layer 1 solution Particle Network for an undisclosed amount. The newly acquired funds will be allocated to several key areas to drive the development of Particle Network, including global team expansion; enhancing the functionality and integration of its Chain Abstraction ecosystem; and ensuring a safe, efficient, and timely launch of its L1 mainnet later this year.
DWF Labs co-creation: Developing CeDeFi synthetic stablecoin
DWF Labs co-founder Andrei Grachev announced that the company is developing a CeDeFi synthetic stablecoin. It will allow users to earn good returns without losing any flexibility in using assets, so stay tuned.
