Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to a glance at the progress of mainstream projects and star projects this week.
Bitcoin
Futu Securities plans to give away bitcoin and stock rewards to specific users
"On the first day of our cryptocurrency trading service, the market response was relatively positive," said Steve Zeng, managing director of Futu Group, on Friday. Futu said that the company is the first online brokerage in Hong Kong to provide zero-commission cryptocurrency trading. In addition, in order to attract users, Futu also plans to give away bitcoin and Alibaba and Nvidia stocks to specific users who open an account and hold assets for a certain period of time.
In addition, Futu is applying for the SFC's virtual asset trading platform license through its wholly-owned subsidiary PantherTrade. According to the SFC’s website, PantherTrade has been included on a list of applicants that are “deemed to be licensed.”
Grayscale holdings data update: Bitcoin Mini Trust exceeds 30,000 BTC, GBTC market value drops to about $15 billion
Grayscale officially updated the Bitcoin and Ethereum fund data as of August 2, as follows:
1. Grayscale spot Bitcoin ETF GBTC holdings are 240,140.0663 BTC, asset management scale (non-GAAP) dropped to $15,026,416,447.41, and the number of outstanding shares is 300,880,100 shares;
2. Grayscale Bitcoin Mini Trust BTC holdings are 30,226.9427 BTC, asset management scale (non-GAAP) is $1,891,407,111.72, and the number of outstanding shares is 340,800,100 shares;
3. Grayscale spot Ethereum ETF ETHE's holdings decreased to 2,004,828.0171 ETH, and its asset management scale (non-GAAP) dropped to $6,032,467,358.62, with 236,658,500 shares outstanding;
4. Grayscale Ethereum Mini Trust ETH holds 353,880.1199 ETH, with an asset management scale (non-GAAP) of $1,064,814,664.49, and 375,548,500 shares outstanding.
Analysis: Since June, Bitcoin's correlation with the S&P 500 has become increasingly lower
Trader T said on the X platform that since June, Bitcoin's correlation with the S&P 500 has become increasingly lower, and its correlation with gold is also low.
VanEck CEO: Bitcoin's market value will reach half of the total market value of gold
VanEck CEO said that Bitcoin's market value will reach half of the total market value of gold, reaching $350,000 per coin.
In addition, VanEck CEO also said that if central banks adopt Bitcoin and become part of the financial system, its value will reach "millions".
NFT sales on the Bitcoin chain in July were approximately US$77.3 million, the lowest record since November 2023
According to Cryptoslam data, NFT sales on the Bitcoin chain in July were US$77,311,729.1, the lowest record since November 2023. In addition, the number of NFT transactions on the Bitcoin chain in July was less than 120,000, also the lowest level since November 2023, with about 35,477 independent sellers and about 49,348 independent buyers.
Ethereum
IntoTheBlock: Ethereum fees hit a nine-month low
IntoTheBlock data shows that this week, Ethereum fees hit a nine-month low, with a total fee of $18.2 million and gas costs falling to 1 gwei (a swap transaction costs about $1).
The Ethereum Foundation is suspected of exchanging 150 ETH for about 497,200 DAI
According to Arkham monitoring, in the past 10 minutes, the address suspected to be the Ethereum Foundation (0xd7...c1f4) transferred 150 ETH to CoW Protocol, and then received 497,250 DAI from CoW Protocol.
It is reported that since this year, the suspected Ethereum Foundation address (0xd7...c1f4) has sold ETH for DAI through Cow Protocol almost every week or every two weeks, and the amount is generally 50, 100 and 200 ETH.
Ethereum Foundation transfers about 3.48 million TAIKO to Bitcoin Suisse hot wallet
Arkham monitoring shows that the Ethereum Foundation address 0x97…dE4B transferred 3,484,000 TAIKO tokens (about 9.16 million US dollars) to the hot wallet of Bitcoin Suisse, an institutional-level encryption service platform, at 16:25 (UTC+8) today.
The foundation address received these tokens from the Taiko mainnet on June 28 and then cross-chained to the Ethereum mainnet.
ARK Invest Buys $21 Million of 3iQ Ethereum Collateralized ETF
Investment firm ARK Invest recently made its first purchase of $21 million of the Canadian 3iQ Ethereum Collateralized ETF (ETHQ.U), while simultaneously dumping $14.6 million of shares in Coinbase.
The 3iQ Ethereum Collateralized ETF has seen significant growth since its launch, up about 40% year-to-date. The fund seeks to achieve long-term capital appreciation by investing in Ethereum and generating passive income through staking. ARK purchased 1 million and 651,713 shares of ETHQ.U, respectively, through the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF.
Informed sources: Morgan Stanley is watching the development of the Ethereum ETF market
According to people familiar with the matter, Morgan Stanley is watching the development of the newly approved spot Ethereum ETF market, but has not yet committed to providing its clients with access to these ETFs.
Earlier news, people familiar with the matter revealed that Morgan Stanley will provide BlackRock and Fidelity's Bitcoin ETFs to its eligible clients, namely: IShares Bitcoin Trust and Wise Origin Bitcoin Fund. People familiar with the matter said that only clients with a net worth of at least $1.5 million, active risk tolerance and a willingness to invest speculatively are suitable for participating in Bitcoin ETFs, and Morgan Stanley will monitor clients' cryptocurrency holdings to ensure that they are not overly exposed to this volatile asset class.
Other Projects
Kujira: An Operational DAO will be established to manage the treasury and core protocols
The Kujira team published an article on the X platform, detailing the recent liquidity crisis and market panic. The team said that it had decided to use part of the operating funds for the liquidity and activity promotion of the ecosystem, which was considered reasonable at the time. However, a series of events that followed, including security vulnerabilities and social engineering attacks, led to market instability.
Some "influencers" on social media mistakenly called this situation "running away", which is not true, but it undoubtedly exacerbated the panic in the market. The team reiterated that there are still 14 million KUJIs in the foundation's treasury that are safe and sound, and the claim that the entire treasury is at risk is inaccurate.
In order to enhance transparency and accountability mechanisms, Kujira will establish an operational DAO (Kujira Operational DAO) to manage the treasury and core protocols. The DAO's first priority is to safely reduce debt, and plans to provide discounted KUJI to the community through Fuzion's bond products, and set up multiple maturity and vesting plans to reduce the impact on long-term prices.
Fantom has been renamed Sonic Labs, and EVM chain Sonic will be launched in Q4
Fantom announced at X that it has changed its name to Sonic Labs. Sonic Labs plans to gain support by introducing a large-scale incentive program, and Sonic will use S tokens. This new token will enter the ecosystem through large-scale airdrops, simplified staking, incentive programs, etc. Although the transition from Fantom to Sonic Labs has been completed, the launch of Sonic will not wait until Q4. According to the description provided on the Sonic Labs launch page, Sonic is a Layer-1 platform with a secure gateway to Ethereum.
Telegram officially launches in-app browser and mini-program store
Telegram launched an in-app browser that supports decentralized web pages, mini-program stores, and other improvements in its July 31 update.
Binance Labs invests in L1 solution Particle Network
Binance Labs announced that it has invested in Layer1 solution Particle Network for an undisclosed amount. The newly acquired funds will be allocated to several key areas to drive the development of Particle Network, including global team expansion; enhancing the functionality and integration of its Chain Abstraction ecosystem; and ensuring a secure, efficient, and timely launch of its L1 mainnet later this year.
DWF Labs co-founder: CeDeFi synthetic stablecoin is being developed
DWF Labs co-founder Andrei Grachev announced that the company is developing CeDeFi synthetic stablecoin. It will allow users to get good returns without losing any flexibility in using assets, so stay tuned.
Weatherly
JinseFinance
Finbold
Beincrypto