Rhythm Morning News｜A summary of important news from last night and this morning on August 30

Bitcoin briefly hits $61,000, up 3.69% in 24 hours

BlockBeats news, on August 29, according to HTX market information, Bitcoin briefly hit $61,000, and is currently quoted at $60,964, up 3.69% in 24 hours.

Sanctum token CLOUD continued to rise and broke through $0.24, with a 24-hour increase of 34.6%

BlockBeats news, on August 29, according to market information, or affected by the news that "Binance will jointly launch BNSOL with Sanctum", CLOUD continued to rise and broke through $0.24, and is now at $0.2414, with a 24-hour increase of 34.6%.

Data: MATIC’s top coin holding addresses hold nearly 70% of the total tokens

BlockBeats reported that on August 30, crypto data analysis agency Santiment released data on social media titled “The percentage of the total upper limit of some of the most mainstream altcoins currently held by the 10 largest wallets”, as follows:

MATIC: 69.4%

SHIB: 61.2%

UNI: 50.8%

PEPE: 46.1%

ETH: 44.0%

USDT: 33.1%

LINK: 31.1%

TON: 27.5%

DAI: 24.5%

USDC: 19.0%

Santiment said that several factors affect whether an asset is highly concentrated or low in whale wallet addresses. For example, early adopters or project insiders may hold a large amount of funds, resulting in high concentration (such as TON). Or the token can be used heavily for staking or governance, requiring validators to hold a large number of tokens (as is the case with Ethereum and its ETH 2.0 deposit contract, which currently holds 35.4% of the supply). In addition, tokens that are widely distributed through airdrops or community rewards may have a more decentralized distribution (such as Arbitrum).

Coinbase International has launched RENDER, SAGA and T perpetual contracts

BlockBeats news, on August 29, according to official news, Coinbase International and Coinbase Advanced have launched RENDER, SAGA and T perpetual contracts, and limit, market, take profit and stop loss orders are now all available.

Upbit will launch USDC trading pairs

BlockBeats news, on August 30, according to official news, South Korean crypto trading platform Upbit will launch USDC trading pairs, initially supporting KRW, BTC and USDT trading pairs.

Cboe submits revised application for listing of Bitcoin and Ethereum ETF options

BlockBeats news, August 30, according to official documents, the Chicago Board Options Exchange (Cboe Exchange) submitted a revised application to regulators on August 28, hoping to list Bitcoin and Ethereum ETF options. The proposed rule changes will classify spot cryptocurrency ETFs with commodity-based ETFs such as Goldman Sachs Physical Gold ETF and iShares Silver Trust as "securities deemed suitable for options trading."

The platform seeks to list options linked to ETH and BTC ETFs issued by asset management companies, including Fidelity, 21Shares, Invesco, VanEck, Grayscale, Bitwise, BlackRock's iShares and Valkyrie.

Orderly Network official Discord was hacked, please do not click any links

BlockBeats news, on August 29, Orderly Network tweeted that its official Discord was hacked. Please do not click on any links and pay attention to the safety of your funds.

Binance released "BNSOL is coming soon", hinting that it will jointly launch a liquidity pledge token with Sanctum

BlockBeats news, on August 29, after Binance released the content of "BNSOL is coming soon", Sanctum replied with a handshake emoji, which may imply that it will jointly launch a new liquidity pledge token.

Jupiter co-founder Meow: EVM and Ethereum still have bright prospects, and I am proud of my work for the Ethereum ecosystem

BlockBeats news, on August 29, Jupiter co-founder Meow published a post saying, "I have invested a lot of time in the Ethereum ecosystem, contributed to key projects such as Instadapp, Fluid, Kyber Network and WBTC, and I am very proud of my work. EVM and Ethereum (short-term issues aside) have incredibly bright prospects as the de facto engine of the new blockchain, and this simple fact must not be forgotten in the current negative sentiment."

Time tokenization platform Time.fun completes $3 million seed round financing, led by Brevan Howard Digital

BlockBeats news, on August 30, the time tokenization platform Time.fun announced the completion of a $3 million seed round of financing, led by Brevan Howard Digital, Coinbase Ventures, Breed VC, Zee Prime Capital and Arthur Hayes' family office Maelstrom. Angel investors such as Solana co-founders Anatoly Yakovenko and Raj Gokal, Helius co-founders Mert Mumtaz and Santiago Santos also participated in the investment.

It is reported that Time.fun is a tokenization platform based on Ethereum's second-layer network Base, which can help creators tokenize time. When creators tokenize time, traders can buy, sell and redeem the time in minutes.

Multi-chain infrastructure Edge Matrix Chain completed $20 million in financing, led by Polygon Ventures and Amber Group

BlockBeats news, on August 29, according to TheBlock report, multi-chain infrastructure project Edge Matrix Chain completed $20 million in financing, led by Polygon Ventures and Amber Group, One Comma, Kapley Judge and Associated Corporations and Cyberrock Venture Fund and other investors.

EMC plans to use the newly raised funds to launch its Layer 1 blockchain, which focuses on applications designed for artificial intelligence. The blockchain "is designed to expand and support GPU computing for encrypted AI projects, while introducing new DeFi asset classes supported by tokenized real-world GPU resources." EMC also said that it launched a two-month public testnet incentive program on August 17 and plans to distribute a $5 million prize pool through a two-stage incentive program.

Stablecoin Level developer Peregrine Exploration completes $3.6 million in financing, led by Polychain Capital and Dragonfly

BlockBeats news, August 29, according to TheBlock report, stablecoin Level developer Peregrine Exploration completed $3.6 million in financing, led by Polychain Capital and Dragonfly, Robot Ventures, Pier Two, EIV and Global Coin Research, as well as angel investors such as Balaji Srinivasan, Jeff Fang, Julian Koh, Sidney Powell, etc.

It is reported that the new funds will be used to develop a stablecoin protocol called Level.

Layer1 encrypted network Quai Network completed $5 million in strategic financing, Cogitent Ventures, MH Ventures and others participated in the investment

BlockBeats news, on August 29, according to TheBlock, Layer1 encrypted network Quai Network completed $5 million in strategic financing, Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures and DexCheck Ventures participated in the investment.

It is reported that following the previous rounds of financing, the total amount of this round of financing reached 15 million US dollars, of which 10 million US dollars came from Polychain Capital, Alumni Ventures and other companies. The new funds will be used to expand the project's engineering and developer relations teams, support research and development, and invest in community engagement initiatives.

Stablecoin payment network Bridge completes $58 million in financing, with Sequoia, Index and others participating

BlockBeats news, on August 30, Bridge, a global stablecoin payment network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, announced that it had received $58 million in financing, with Sequoia, Ribbit and Index participating. Including a new round of $40 million led by Sequoia and Ribbit, it will challenge the traditional payment system.

Bridge will provide seamless conversion between fiat currencies and stablecoins, and facilitate the transfer of different stablecoins between blockchains. Bridge has processed more than $5 billion in annualized payments and has worked with high-end customers such as Elon Musk's SpaceX to help them collect payments in different regions and currencies and transfer funds to their global treasury through stablecoins.

The prediction market platform Polymarket's transaction volume in August exceeded $430 million, setting a monthly record

BlockBeats news, on August 29, according to Dune data information, the transaction volume of the prediction market platform Polymarket in August has reached 436 million US dollars, setting a monthly record high.

Trump released a video related to the DeFi project World Liberty: "Let the United States become the capital of encryption"

BlockBeats news, on August 29, Trump released a video related to the DeFi project World Liberty on X, and said in the video, "Today I have made a plan to make the United States the capital of encryption on this planet. Those people want to strangle you by the throat and want to make you bankrupt. We will never let this happen."

It is reported that the video reuses the audio of Trump's 50-minute speech at the Bitcoin 2024 conference held in Nashville in July.

BlockBeats previously reported that on August 26, the Telegram channel "The DeFiant Ones" opened by Trump Jr. for the new crypto project was renamed "World Liberty Financial".

The US dollar index DXY rose nearly 20 points in the short term, and the 10-year US Treasury yield rose 0.7 basis points

BlockBeats reported that on August 29, the 10-year US Treasury yield rose 0.7 basis points to 3.848%. The US dollar index DXY rose nearly 20 points in the short term to 101.37. USD/JPY rose nearly 80 points in the short term, and the intraday increase expanded to 0.50%, now at 145.30. (Jinshi)

Analysis: The overall trend of altcoins currently follows the trend of Bitcoin, indicating that the market is stable in the short term

BlockBeats news, on August 29, CryptoQuant analyst Joao Wedson posted on social media that there is currently a positive correlation between altcoins and Bitcoin. This behavior shows the consistency of the encryption market. Altcoins move synchronously with Bitcoin, reflecting investors' confidence in the entire market.

A historical fact worth noting is that when the Average Altcoin Correlation tends to be negative, this has historically been a warning sign for Bitcoin and the market as a whole. This negative correlation usually occurs when altcoins significantly outperform Bitcoin, usually before Bitcoin's price drops, and investors often need to be cautious.

At present, overall, altcoins still show positive correlation, indicating that despite individual differences, they all follow the trend of Bitcoin. This behavior reinforces the view that the current market indicates short-term stability, but also requires continued vigilance to identify potential deviations that may indicate higher risks.

Goldman Sachs: If the August employment report shows a weak job market, it will prompt the Fed to cut interest rates more significantly

BlockBeats news, on August 29, Goldman Sachs fixed income and liquidity solutions macro strategist Gurpreet Garewal said in a report that the Federal Reserve is expected to cut interest rates by 25 basis points three times in September, November and December. But she said that if the August employment report released next week shows more signs of a weak job market, it may prompt the Fed to start a larger interest rate cut of 50 basis points. (Jinshi)

Apple is in talks to join OpenAI's new round of financing

BlockBeats news, August 30, according to the Wall Street Journal, Apple (AAPL.O) is in talks to finance OpenAI, a move that will consolidate the relationship between Apple and OpenAI. People familiar with the matter said the investment will be part of OpenAI's new round of financing, which will value the company at more than $100 billion.

According to a report by the Wall Street Journal on Wednesday, venture capital firm Thrive Capital is leading this round of financing, which will total billions of dollars, and Apple's rival Microsoft is also expected to participate. It is not yet known how much Apple or Microsoft will invest in OpenAI in this round. (Jinshi)

Yesterday, Grayscale GBTC had a net outflow of 22.7 million US dollars, and ETHE had a net outflow of 5.3 million US dollars

BlockBeats news, on August 30, according to Farside Investors monitoring, Grayscale GBTC had a net outflow of $22.7 million yesterday, Bitwise's BITB had a net outflow of $8.1 million, and ARK's ARKB had a net inflow of $5.3 million.

In addition, Grayscale ETHE had a net outflow of $5.3 million, and mini ETH had a net inflow of $3.6 million.