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A US District Court Judge dismissed a lawsuit against Elon Musk and Tesla, which accused them of manipulating Dogecoin prices through Musk's tweets. The judge ruled that no reasonable investor would rely on these tweets for investment decisions.
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Despite a recent 8.82% drop in PEPE price over the last 24 hours, emerging market patterns suggest a potential reversal. A bullish flag pattern on PEPE's chart indicates a possible rally to $0.00001725. Analysis from AMBCrypto supports this view, noting increased trading volume and bullish indicators like MACD and Chaikin Money Flow. Retail interest in PEPE is also rising, with a significant increase in active daily addresses, suggesting a strong market momentum that could lead to further price increases.
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Foresight News reported that the Web3Port Foundation announced a strategic partnership with Movement, establishing a $10 million ecosystem fund to invest in Movement's native DeFi, consumer, and gaming applications. The fund will prioritize use cases that can only be achieved within Movement, such as custom high-throughput chains, DeFi yield strategies, and fully on-chain computation.
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Wu learned that, according to @Paxos, Paypal's stablecoin PYUSD has surpassed the $1 billion mark for the first time since its launch in August 2023, with a growth rate nearly double that of USDC and triple that of USDT. PYUSD was initially launched on Ethereum but underwent a significant shift, with most of its tokens now issued on Solana.
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Odaily Planet Daily News Donald Trump Jr. has renamed the Telegram channel 'The DeFiant Ones' for his crypto project to 'World Liberty Financial.' Earlier reports stated that Donald Trump Jr., the eldest son of Donald Trump, posted on 'The DeFiant Ones' Telegram channel, saying: 'We have been manipulated by banks, platforms, and various political games for a long time. These banks and their operators want absolute control, but now it's all over. We are making finance great again, putting power back in the hands of the American people. This new DeFi platform will eliminate corruption, expensive, and inefficient intermediaries. No more bureaucrats deciding your fate.'
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Wu learned that, according to Ord io data, today Bitcoin's on-chain Runes activity ranks first, accounting for 69.1% of all transactions. According to Geniidata, the total trading volume of Runes in 24 hours is approximately 1.36 million US dollars, with a total market value of about 850 million US dollars and a growth rate of 6.36%.
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TechFlow news from Deep Tide, on August 23, according to HTX market information, Bitcoin fell below $61,000, currently priced at $60,850.01, with a 24-hour gain narrowing to 0.68%.
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On August 21, the total net inflow of Bitcoin spot ETFs was $39.425 million. Grayscale ETF GBTC had a single-day outflow of $9.8225 million, Grayscale mini ETF BTC had an inflow of $14.2002 million, and Fidelity ETF FBTC had an inflow of $10.6872 million.
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According to Trader T's monitoring, the net inflow of 54.99 million US dollars (933 BTC) was recorded in BlackRock IBIT yesterday, with a trading volume of 740 million US dollars.
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Wu learned that on August 19, the Supreme People's Court and the Supreme People's Procuratorate jointly held a press conference to release the "Interpretation on Several Issues Concerning the Application of Law in Handling Criminal Cases of Money Laundering," clarifying that transferring or converting criminal proceeds and their gains through the trading of "virtual assets" or the exchange of financial assets can be deemed as "concealing or disguising the sources and nature of criminal proceeds and their gains by other means" as stipulated in Article 191(1)(5) of the Criminal Law.
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According to DefiLlama data, the total market value of stablecoins is currently reported at 168.12 billion US dollars, an increase of 1.62% from last week. Among them, the total market value of USDT increased by 1.25%, and the total market value of USDC increased by 1.2%.
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Bitcoin has maintained a strong position above $59,000, suggesting potential for a rally to $63,700 if historical patterns repeat. Despite recent consolidation, Bitcoin remains above a critical support level, indicating bullish momentum could be on the horizon. Key indicators such as the Miners' Position Index and Binary CDD show positive signs, with miners showing confidence and long-term holders maintaining their positions. Technical analysis reveals a bullish symmetrical triangle pattern and a bullish crossover in the MACD, further supporting the potential for an upward movement. However, if Bitcoin fails to maintain its support level, there could be a risk of dropping to $52,000.
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According to the latest news from TechFlow, Lin Chen, the head of Deribit Asia-Pacific, stated that the largest BTC block option today involved receiving a premium of $1.35 million and selling 685 BTC call options at a strike price of 65,000 by the end of September. It is believed that the user holds a large amount of BTC spot and earns some income by selling call options. Profit is realized if the price at maturity is less than $67,000, with a coin-based return of 3.7% (annualized approximately 28.73%).
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Bitcoin sidechain developers unveil BitVM2 whitepaper with improved scaling capabilities
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Foresight News reported that according to Bitget market data, Bitcoin has dropped below 59000 USDT, currently trading at 58948 USDT, with a 1% decrease in the past 24 hours.
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Bitcoin mining company Argo Blockchain has completed the repayment of a $35 million loan to asset management firm Galaxy Digital in 2022. Argo CEO Thomas Chippas stated that this repayment marks an important milestone for Argo and was completed without significant impact on Argo's hash rate. Previously, in December 2022, Argo narrowly avoided bankruptcy through a multi-party agreement with Galaxy, which included the sale of the Helios Bitcoin mining facility in Texas for $65 million and the restructuring of its debt through a $35 million loan. (Cointelegraph)
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WIF, a Solana-based memecoin, has seen a significant surge of 21% over the past week, outperforming other memecoins like SHIB, DOGE, and PEPE. This increase in value is accompanied by a rise in market cap and open interest, despite a decrease in trading volume. Analysts attribute this growth to sustained buying pressure and bullish market sentiment, as indicated by metrics like the Relative Strength Index and RVGI. WIF's performance has led analysts to predict it might reach new highs if current trends continue.
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Toncoin’s Binance listing has significantly boosted its trading volume and prices. After the announcement by Binance, Toncoin's trading volume surged by 258.37% to $1.1 billion in 24 hours, according to CoinMarketCap. Additionally, TON's price increased by 11.07%, reaching $6.36, with its market cap also rising by 11% to $16 billion. The Relative Strength Index (RSI) indicated a move from the oversold zone, suggesting a bullish trend. Short-term analysis predicts further price increases, potentially reaching the next resistance level at $6.74.
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Grayscale has expanded its cryptocurrency product offerings by adding Bittensor (TAO) and Sui (SUI) to its portfolio, focusing on decentralized AI and smart contracts platforms. Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, highlighted that these additions are similar to the firm's existing single-asset investment trusts, bringing the total to 16. Following the announcement, SUI saw a modest price increase of 4.5%, despite a general downtrend, while TAO experienced a significant recovery, rising over 60% since Monday. Market analysts suggest potential further gains for TAO, driven by its alignment with the current AI market trend, whereas SUI's future performance remains uncertain due to technical resistance levels and market conditions.
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Terra blockchain will be suspended at block height 11,550,000 for a planned chain upgrade on August 8, 2024, at approximately 14:18 UTC. During this period, no transactions will be processed.
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