Headlines
Brazil approves second Solana ETF
Brazil’s Securities and Exchange Commission (CVM) has approved a second Solana exchange-traded fund (ETF), the agency disclosed in its central database.
According to the CVM database, the new Solana (SOL) ETF is in the pre-operational stage and will be launched by Hashdex Brazil, a Brazil-based asset management company with over $962 million in assets under management, in partnership with local investment bank BTG Pactual.
Hashdex is an experienced player in the ETF space on Brazil’s B3 Stock Exchange, having already launched products such as the Nasdaq Crypto Index and ETFs based on Bitcoin and Ethereum.
On August 8, the CVM approved the country’s first Solana ETF, to be issued by Brazilian asset management company QR Asset.
▌Trump : Consider appointing Kennedy Jr. to a government role
Former U.S. President Trump said he would be willing to consider appointing Robert F. Kennedy Jr. to a government role if Kennedy supported him.
Earlier reports said that Nicole Shanahan, the running mate of US presidential candidate Robert F. Kennedy Jr., said they were considering withdrawing from the presidential race and endorsing Donald Trump.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $59,023.71, with a daily change of -0.7% ;
The latest transaction price of ETH is 2,572.97 yuan, with a daily change of -2.4 % ;
BNB's latest trading price is $569.11, with a daily change of +1.8% ;
SOL's latest trading price is $142.28, with a daily change of -1.3% ;
DOGE's latest trading price is $0.1029, with a daily change of +1.5% ;
XPR's most recent trading price was $0.594, with a daily change of -0.7% .
policy
Nigerian Securities and Exchange Commission denies issuing temporary cryptocurrency license
Nigeria's Securities and Exchange Commission (SEC) has not issued any cryptocurrency licenses, contrary to some reports, Emomotimi Agama, director-general, told Techcabal via text message. The SEC plans to begin issuing licenses for digital services and tokenized assets in August 2024, a move that follows increased scrutiny of cryptocurrency exchanges and a push to regulate the sector, including requiring exchanges to delist the naira from peer-to-peer trading to prevent currency manipulation. "Approval has not been given to anyone yet."
Blockchain Applications
▌ Nillion integrates with Arbitrum to improve Ethereum privacy protection
Nillion, a "blind computer" based on multi-party computation, announced its integration with Ethereum extension layer Arbitrum. The collaboration will enable applications on Nillion to leverage Ethereum's security for settlement and bring Nillion's privacy-preserving data processing and storage capabilities to decentralized applications (dApps) on Arbitrum.
Nillion's distributed network focuses on general data computing and processing, ensuring that data is not revealed during processing through privacy-enhancing technologies such as multi-party computing and fully homomorphic encryption. After integration, Nillion applications will be able to settle on Arbitrum, take advantage of its Layer 2 liquidity, and provide private storage and computing space for dApps.
Nillion was founded in 2021 by former Uber, Indiegogo, Hedera Hashgraph employees and executives from Coinbase and Nike. The company also announced last week that it is working with decentralized AI startup Ritual to develop decentralized blind AI reasoning technology.
Cryptocurrency
▌ Tether Treasury mints 1 billion USDT
According to Whale Alert, about two minutes ago, Tether Treasury minted 1,000,000,000 USDT.
Tether CEO Paolo Ardoino said that the 1 billion USDT is a supplement to the Ethereum inventory. This is an authorized but unissued transaction, which means that the additional issuance will be used for the next issuance request and cross-chain exchange inventory.
▌On -chain derivatives trading volume has fallen for three consecutive weeks, and market risk appetite has cooled
According to DefiLlama, on-chain derivatives trading volume has fallen for the third consecutive week, indicating that market risk appetite may have weakened. This week's trading volume was only $5.11 billion, which is expected to be the lowest weekly trading volume since the beginning of 2023.
The reasons for the decline in trading volume include uncertainty over the outcome of the US presidential election, increased tensions in the Middle East, and macroeconomic factors such as expectations that the Federal Reserve may not cut interest rates next month. Despite this, the average monthly trading volume of the on-chain derivatives market in 2024 increased by 357% year-on-year, indicating that the decentralized derivatives market has continued to grow this year. The addition of new platforms such as Blast and Hyperliquid has also contributed to the expansion of the market size.
However, the trading volume of decentralized platforms is still much lower than that of centralized exchanges. For example, Binance's trading volume in the past 24 hours reached $46.2 billion, while the total trading volume of decentralized platforms was only $5.1 billion, accounting for about 11%.
▌ Jaredfromsubway.eth launches new MEV robot to carry out complex sandwich attack
A trader with the pseudonym Jaredfromsubway.eth launched a new MEV robot that implemented more complex arbitrage and sandwich attacks and has earned millions of dollars in ETH. Since August 14, Jared has abandoned the old contract address, and the new address uses the same public and private key pair as the original robot. EigenPhi data shows that the new contract address has processed more than 85,000 transactions, generating about 765 ETH (nearly $2 million).
Jared's new bot executed multi-layered sandwich attacks, including five-layer and seven-layer attacks, which exploited trading opportunities of multiple victims at the same time. Sandwich attacks help attackers get more favorable prices by operating before and after ordinary users trade, while making ordinary users' trades worse. This strategy takes advantage of the slippage of crypto trading, driving up prices and profiting from it.
▌Germany 's BaFin cracks down on illegal cryptocurrency ATMs, seizes 13 machines
The German Federal Financial Supervisory Authority (BaFin), together with the Federal Criminal Police Office and the German Central Bank, seized 13 cryptocurrency ATMs in 35 locations on August 20 because these devices were not registered in accordance with Section 32 of the Banking Act and were suspected of illegally exchanging euros for cryptocurrencies. BaFin stated that these illegally installed ATMs could become a hotbed for criminal activities due to the failure to implement the "Know Your Customer" (KYC) procedure.
The number of cryptocurrency ATMs worldwide was near an all-time high in 2024, but declined in July and early August, in part due to enforcement actions in the U.S. Still, 266 cryptocurrency ATMs have been installed worldwide since the beginning of August.
▌ Profitable percentage of ETH supply hits 2024 low
The Block data shows that the 7DMA of ETH supply profitability was 85.66% over the past week, the lowest point since November 2023.
Just three weeks ago, this figure was at 94%, but has since dropped significantly, which may be partly due to the overall market sell-off that occurred during this period, causing the price of ETH to fall by more than 30%.
Analysts say this further supports the view that ETH’s current price is below the cost basis of most buyers this year. However, it is worth noting that although this figure is at a low point in 2024, it does not necessarily indicate that most ETH holders are in a net loss so far this year.
▌Google : Advertisers providing cryptocurrency trading services in Switzerland can publish ads
Google said that from September 20, advertisers providing cryptocurrency trading services to Switzerland can publish ads if they meet the requirements and obtain Google certification.
Important economic developments
▌The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 67.5%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 32.5%, and the probability of cutting interest rates by 50 basis points is 67.5%. The probability of the Fed cutting interest rates by 50 basis points by November is 53.6%, the probability of cutting interest rates by 75 basis points is 39.7%, and the probability of cutting interest rates by 100 basis points is 6.7%.
Harris supports Biden's 44.6% capital gains tax proposal
Kamala Harris supports Biden's proposal for a 44.6% capital gains tax, the highest in history. The proposal also includes a 25% tax on unrealized gains for high net worth individuals.
▌Expectations of a Fed rate cut continue to rise, and many banks have lowered interest rates on their US dollar deposit products
Recently, the market has increased its expectations for the Fed to cut interest rates in September, and high-interest dollar deposits have also continued to attract attention. The reporter learned from the interview that although the Fed has not officially cut interest rates, some banks have lowered the interest rates on dollar deposits; at the same time, the performance benchmarks of some dollar wealth management products have also declined compared with the previous period. Industry insiders pointed out that the possibility of the Fed cutting interest rates is increasing, which means that the interest rate on dollar deposits will enter a downward channel in the future. When investors buy related products, they need to pay attention to the impact of interest rate and exchange rate fluctuations on actual returns.
Golden Encyclopedia
What is Delegated Proof of Stake (DPoS)?
DPoS is an evolution of the Proof of Stake (PoS) consensus mechanism, designed to provide enhanced scalability, efficiency, and democratic governance. Daniel Larimer proposed the concept of DPoS in 2014 as an enhancement to the traditional PoS consensus mechanism, designed to improve efficiency and scalability. Larimer first shared his vision in a Bitcointalk forum post, which led to the actual implementation of DPoS and the launch of BitShares in 2015. This marked the beginning of DPoS in blockchain technology, laying the foundation for its adoption in other projects such as Steem and Eos. Eos, in particular, used the consensus mechanism to conduct one of the largest initial coin offerings (ICOs) in the cryptocurrency industry in 2017, which attracted a lot of attention to DPoS and highlighted its potential in achieving high performance and decentralized governance.
Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
