Musk says Neuralink "empowers"; cryptocurrency market value drops 4.66%

Headline

▌Musk says Neuralink will "give people superpowers"

Elon Musk's brain-computer interface (BCI) startup Neuralink has apparently begun its second human trial. The news came on Lex Fridman's podcast, where Musk unceremoniously revealed that the second human trial was a success and "so far so good." Musk went on to say that the second implant was functioning normally, with about 400 electrodes "providing signals."

▌The total market value of cryptocurrency is $2.09 trillion, down 4.66%

The current total market value of cryptocurrency is $2.09 trillion, evaporating $102.171 billion in 24 hours, a drop of 4.66%. Among them, Bitcoin's market value accounts for 54.6% and Ethereum's market value accounts for 15.77%.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 58,053.93 US dollars, with a daily increase or decrease of -4.3%;

ETH's latest transaction price is 2,682.51 yuan, with a daily increase or decrease of -7.5%;

BNB's latest transaction price is 496.16 US dollars, with a daily increase or decrease of -6.2%;

SOL's latest transaction price is 138.04 US dollars, with a daily increase or decrease of -%. style="color: rgb(255, 0, 0);">-3.3%；

DOGE's latest transaction price is 0.1037 US dollars, and its intraday increase or decrease is -4.1%；

XPR's latest transaction price is 0.5227 US dollars, and its intraday increase or decrease is -5.9%。

Policy

▌Senior White House officials will hold a virtual meeting with cryptocurrency executives tomorrow

Bitcoin News said on the platform that senior White House officials will hold a virtual meeting with cryptocurrency executives tomorrow, hosted by Congressman Ro Khanna. Harris' team has received an invitation but has not yet confirmed whether to attend.

▌Two NFT artists file lawsuit against the SEC

Earlier this week, two NFT artists filed a lawsuit against the SEC to fight back against its unclear approach to environmental regulation. The lawyers said the SEC continued to be "strategically vague."

Blockchain Applications

▌Abu Dhabi Launches Blockchain Center to Promote Blockchain Innovation

A center designed to promote blockchain innovation and make Abu Dhabi a global center for top events and seminars, connecting industry leaders, has officially opened. In addition, the Blockchain Center will establish a venture capital department to support and invest in Web3 startups. The center will serve as a platform for launching the latest blockchain technology applications. Commenting on the center's unveiling, Abdulla Al Dhaheri, CEO of the Blockchain Center, said, "We are delighted to launch the Blockchain Center in Abu Dhabi. Our vision is to create a global blockchain innovation, education and collaboration center in Abu Dhabi."

Cryptocurrency

▌Sygnum Bank Director: Solana, Cardano and other crypto assets are less likely to launch spot ETFs in the United States

Katalin Tischhauser, head of investment research at Sygnum Bank, said in an interview that Solana, Cardano and other crypto assets are less likely to launch spot ETFs in the United States, and even if they are launched, they may find it difficult to attract investors. There are two main reasons: 1. The U.S. SEC requires that approved ETFs must have a trading platform for market monitoring, but the lack of such a platform for altcoins such as Solana makes it impossible for the SEC to ensure that the market is fair, transparent and not manipulated; 2. Compared with Bitcoin and Ethereum, investors have lower demand for ETFs for altcoins such as Solana. This can be seen by comparing the assets under management of Grayscale's Solana Trust (GSOL) and Ethereum Trust (ETHE), with GSOL's assets being just 1.2% of ETHE's, showing limited investor interest.

▌April's Bitcoin halving led to wider losses for Riot Platforms in the second quarter

In the second quarter of this year, crypto mining company Riot Platforms recorded a net loss of $84.4 million, compared to $27.4 million in the same period last year. The U.S. bitcoin mining company's widening losses are the result of the continued impact of the April bitcoin halving. Jason Les, CEO of Riot, commented, "In April this year, the Bitcoin network 'halved' in the second quarter, a pre-set event where the Bitcoin block subsidy miners receive from the network is halved every four years. Despite the reduction in available output for all Bitcoin miners, Riot's revenue for the quarter was $70 million."

▌The open interest of ETH contracts across the network fell to $12.421 billion

According to Coinglass data, the open interest of ETH futures contracts across the network was 4.496 million ETH, equivalent to $12.421 billion. Among them, the open interest of Binance ETH contracts was 1.4536 million ETH (approximately $4.013 billion), ranking first.

▌ETH fell below $2,700 again

The market shows that ETH fell below $2,700 and is now at $2,699.13, with a daily decline of 7.18%. The market fluctuates greatly, so please do a good job of risk control.

▌BTC fell below $58,000

The market shows that BTC fell below $58,000 and is now at $57,982.01, with a daily decline of 4.46%. The market fluctuates greatly, so please do a good job of risk control.

Important Economic Dynamics

▌The probability of the Fed cutting interest rates by 50 basis points in September is 69.5%

According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points in September is 30.5%, and the probability of cutting interest rates by 50 basis points is 69.5%. The probability of the Fed cutting interest rates by 75 basis points by November is 4.1%, the probability of cutting interest rates by 100 basis points is 35.8%, and the probability of cutting interest rates by 125 basis points is 60.1%.

Golden Encyclopedia

▌What is an inverse futures contract?

An inverse futures contract is a financial arrangement that requires the seller to pay the buyer the difference between the agreed price and the current price when the contract expires. Unlike traditional futures, the seller benefits from a drop in price. The nature of inverse futures contracts is nonlinear. When a trader goes long a BTC/USD inverse futures contract, they are short the U.S. dollar. Because the contract is inverse, the trader's position is worth less in Bitcoin, and the higher the value of Bitcoin, the higher its value relative to the U.S. dollar.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and be sure to increase risk awareness.