Rhythm Evening News｜A list of important information in the crypto industry on August 14

Matrixport: The market continues to buy Bitcoin ETFs on dips

BlockBeats news, on August 14, Matrixport released the latest view that since March 2024, Bitcoin spot ETF buyers have been strictly implementing the strategy of buying on dips and waiting at high levels.

With the opening of the 13F quarterly reporting period today, funds with more than $100 million in U.S. stock investments will begin to disclose. It may be found that more pension funds and asset management companies increased their holdings of Bitcoin ETFs in the second quarter, which may boost the confidence of institutional investors.

"Miner capitulation" and new highs in hash rate may indicate Bitcoin price bottoming

BlockBeats news, on August 14, despite the recent drop in Bitcoin prices, miners are still increasing their network hash rate, indicating positive sentiment after the capitulation event that usually marks the bottom of the price.

On August 5, Bitcoin outflows soared to 19,000 BTC, the highest level since March 18, and miners capitulated significantly. At this time, the price of Bitcoin hit $49,000, indicating that as profit margins tightened, miners sold assets to cover costs.

CryptoQuant says Bitcoin miners are expanding their capacity again as the network hash rate hit a new all-time high this week following the capitulation event. On Tuesday, the network hash rate hit a new record of 627 exahash per second, recovering from an 8.5% drop in early July. This suggests that miner sentiment has turned positive after the sell-off in the past few months.

Bloomberg Analyst: Satoshi Nakamoto's BTC holdings are expected to be surpassed by the US Bitcoin spot ETF

BlockBeats news, on August 14, Bloomberg ETF analyst Eric Balchunas posted on social media, "I didn't expect that the US Bitcoin spot ETF is expected to surpass Satoshi Nakamoto in October to become the largest entity holding Bitcoin. The ETF product launched by BlackRock alone is already the third largest holder of Bitcoin, and is expected to become the largest holder by the end of next year, and is likely to maintain this position for a long time."

Base Ecological Meme Coin BASED has a trading volume of 12.42 million US dollars in 14 hours after its launch, with a market value of over 4.9 million US dollars

BlockBeats news, on August 14, according to market information, Base Ecological Meme Token BASED reached a high of 0.00017 US dollars in 14 hours after its launch, and then fell back. The current price is 0.0000717 US dollars, with a market value of 4.96 million US dollars and a trading volume of 12.42 million US dollars.

BASED is an experimental community project on the chain. Coinbase launched a commemorative NFT on Zora when it announced the launch of its Ethereum L2 blockchain Base on February 23, 2023. Users can obtain BASED tokens by holding the NFT.

BlockBeats reminds users that Meme tokens have no real use cases and are highly volatile.

Yesterday pump.fun revenue exceeded $5 million, a record high

BlockBeats news, August 14, yesterday pump.fun revenue exceeded $5 million, reaching $5.33 million, a record high.

pump.fun's single-day revenue ranked first in the crypto market revenue rankings, surpassing a number of public chains, DeFI, DEX, etc.

gm.ai: GM tokens are not yet online, users need to be wary of fake currency scams

BlockBeats news, on August 14, gm.ai officials posted on social media that GM tokens are not yet online, and users need to be wary of fake currency scams. The next official information update will be provided as soon as possible.

WazirX terminates cooperation with Liminal and will transfer funds to a new multi-signature wallet

BlockBeats news, on August 14, according to Coindesk, Indian crypto trading platform WazirX announced that it would terminate its partnership with Liminal and would transfer the remaining funds in Liminal to a new multi-signature wallet.

WazirX said that the $230 million hack in July was related to a multi-signature wallet using Liminal's digital asset custody service. Liminal countered that its infrastructure had not been damaged.

Musk's xAI launches Grok-2 and Grok-2 mini beta versions

BlockBeats news, on August 14, Musk's AI company xAI recently announced the launch of an early preview version of Grok-2, which has chat, coding and reasoning capabilities.

xAI also launched a mini version of Grok-2. Grok-2 and Grok-2 mini are currently in beta on X.

xAI will also make both models available through its enterprise API later this month. xAI said Grok-2 showed significant improvements in retrieval content reasoning and its tool usage capabilities, such as correctly identifying missing information, reasoning through event sequences, and discarding irrelevant posts.

dYdX will launch dYdX Unlimited upgrade for dYdX Chain this fall

BlockBeats news, on August 14, dYdX announced that it will launch dYdX Unlimited upgrade for dYdX Chain this fall, adding the following features:

· Unlicensed listing;

· MegaVault (obtains liquidity from dYdX users and acts as a market maker for all dYdX Chain markets);

· Affiliates Program;

· License Key (provides a more secure and customizable environment for institutions and high-value traders) and other features.

Connext proposes to upgrade the token system and improve the voting binding system

BlockBeats news, on August 14, the cross-chain protocol Connext announced a proposal to upgrade the NEXT token system to CLEAR and improve the voting binding system.

The token system directly solves the incentive introduction problem of Solver and Intent Protocol, while also allowing blockchains and asset issuers to adopt a new way to incentivize liquidity to their specific ecosystems without permission.

Compared to other protocols, the Everclear ecosystem solves these problems by aligning rewards with intent settlement and liquidity depth, making it more difficult for any single entity to monopolize rewards.

Previously, Connext changed its name to Everclear and launched a "clearing layer" based on the intention cross-chain bridge.

Polkadot proposes to shorten the DOT unlocking period, allowing it to be unlocked in as fast as 2 days

BlockBeats news, on August 14, the RFC 97 proposal aimed at shortening the DOT unstaking period from 28 days to 2 days has been approved by the Polkadot Fellowship, and its code or design has been merged into the main code base (developers are being sought for on-site development).

ZKasino investment scam has not yet refunded, and the registration refund channel was previously open

BlockBeats news, on August 14, according to @EmberCN monitoring, the decentralized entertainment platform ZKasino, which had previously "run away", has not yet refunded. The project opened the registration refund channel on May 28 this year for a period of 3 days. Later, it stated that “registration data will be collected in the next few days. A new announcement will be released as soon as possible to provide data for public verification.”

As of the time of writing, the funds raised by investors are still in two addresses:

· 0x42dc91caa486a1cbf921a8009404a590414285a3 (5,271 ETH);
· 0x0ab4a19ab20bd1dde51a5d302721fcc30f34094d(5,266 ETH)

BlockBeats previously reported that on May 8, the Binance Financial Crime Compliance and Investigation Team worked with the Dutch Fiscal Information and Investigation Service to freeze millions of euros related to the ZKasino scam.

Former Binance executive Hon Ng joins Bitget as Chief Legal Officer

BlockBeats news, on August 14, according to official news, Bitget announced the appointment of former Binance executive Hon Ng as Chief Legal Officer (CLO). Hon Ng will play a key role in leading the company's global business development and assist Bitget in continuing to promote global compliance operations and global strategic expansion.

Hon Ng has more than 20 years of legal experience and was named one of the world's top 20 legal leaders by the Financial Times. Before joining Bitget, he served as General Counsel and Head of Government Affairs and Policy at Binance. Prior to that, he worked for Uber and helped it grow from a startup to a global technology giant. Before entering the technology field, Hon Ng worked as a corporate and MA lawyer at law firms Latham Watkins, White Case, and Herbert Smith Freehills.

OKX will launch DOGS spot trading

BlockBeats news, on August 14, according to the official announcement, OKX will launch DOGS spot trading. Spot trading will be open at 20:00 on August 20 (UTC+8).

It is reported that the image of DOGS is inspired by Spotty, the mascot designed by TON founder Pavel Durov for the Telegram community, which embodies the unique spirit and culture of the Telegram community.

Binance Super Earning Coin Launches TON

BlockBeats news, on August 14, Binance Super Earn Coin was launched on TON. Binance Super Earn Coin provides a new way to earn coins. Users who subscribe to the newly launched token projects through the principal-guaranteed coin-earning regular product will enjoy a limited-time special annualized rate of return (Special APR).

Super Earn Coin is an exclusive benefit provided for a limited time after the token is launched, and is applicable to tokens obtained through Launchpool, Megadrop or HODLer airdrops. Users can use these newly launched tokens to subscribe to the principal-guaranteed coin-earning regular product and enjoy a limited-time special annualized rate of return for a certain period of time.

The limited-time special annualized rate of return (Special APR) refers to the annualized return fully sponsored by the corresponding token project team, which is designed to allow users to earn higher returns using the newly launched tokens on the Binance financial platform. Usually, the limited-time special annualized rate of return will be higher than the average annualized rate of return of the principal-guaranteed coin-earning regular product.