Tether prepares new open source project, $893 million in tokens to be unlocked in August

Headline

▌Tether CEO: Tether is preparing to launch a new open source project

Tether CEO Paolo Ardoino posted on the X platform that Tether is preparing to launch a new open source project, which will become an important part of the future ecosystem.

▌Tokens worth approximately $893 million will be unlocked in August

Tokens worth approximately $893 million will be unlocked in August, as follows: dYdX will unlock 8.33 million tokens on August 1, accounting for 3.65% of its circulating supply, worth nearly $11 million; Sui will unlock 2.56% of its circulating supply (64 million tokens) on August 1, with a current value of approximately $50 million; ZetaChain will unlock 18.92% of its circulating supply on August 1, nearly 54 million tokens, valued at approximately $35 million at current prices; Wormhole On August 3, 600 million tokens will be unlocked, accounting for one-third of its circulating supply, which is worth more than $180 million at current prices; ImmutableX will unlock 2.11% of its circulating supply, or 32.5 million tokens, on August 9, with a current value of $49 million; Aptos will unlock another 2.41% of its circulating supply, or 11.31 million tokens, on August 12, with a current value of approximately $80 million; The Sandbox will unlock 9% of its circulating supply, or 205 million tokens, on August 14, with a current value of approximately $69 million; StarkNet will unlock 64 million tokens on August 15, accounting for 4.4% of the token circulation. The token is currently valued at approximately $35 million; Arbitrum will unlock 2.8% of its circulating supply on August 16, with a current value of approximately $67 million; Avalanche will unlock 2.42% of its circulating supply (9.5 million tokens) on August 20, with a current value of $268 million; Galxe will unlock 4 million tokens on August 2, accounting for 3.5% of its circulating supply, with a current value of approximately $13 million; ApeCoin will unlock 2.3% of its circulating supply (15.6 million tokens) on August 17, with a current value of approximately $12 million; Osis Network 151 million tokens will be unlocked on August 18, accounting for 2.2% of its circulating supply, with a current value of approximately US$13 million; Pixels will unlock 54 million tokens on August 19, accounting for 7% of its circulating supply, with a current valuation of approximately US$11 million.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 68214.62 US dollars, with a daily increase or decrease of +0.3%;

ETH's latest transaction price is 3272.39 yuan, with a daily increase or decrease of +0.6%;

BNB's latest transaction price is 584.21 US dollars, with a daily increase or decrease of +0.4%；

SOL's latest transaction price is 184.79 US dollars, with a daily increase or decrease of +0.1%；

DOGE's latest transaction price is 0.13 US dollars, with a daily increase or decrease of -0.9%；

XPR's latest transaction price is 0.6022 US dollars, with a daily increase or decrease of +0.7%。

Policy

▌Crypto Lawyer: Harris Should Ask SEC Chairman to Resign to Show Her Attitude of Promoting Crypto Economy During Her Administration

Crypto supporter and well-known lawyer JohnE Deaton posted on X platform that the most important thing that US Vice President Harris can do is to ask SEC Chairman Gary Gensler to resign immediately to show her serious attitude towards restarting Bitcoin and promoting the digital asset economy during her administration. It can be said that no one has caused more harm to individual investors than Gensler, including SBF.

Blockchain Application

▌The University of Wyoming established the Bitcoin Research Institute to output peer-reviewed Bitcoin academic research results

The University of Wyoming established the Bitcoin Research Institute to output peer-reviewed Bitcoin academic research results and contribute to the establishment of philosophy, economics and interdisciplinary courses.

Cryptocurrency

▌Miners turn to AI and chip manufacturing to expand business after Bitcoin halving

The profit crunch after Bitcoin halving has put pressure on the business model of Bitcoin miners, and some larger companies see this industry obstacle as an opportunity to expand their business or launch a hostile takeover. Consolidation is expected in the Bitcoin mining industry in the next 18 months. Colorado-based Riot Platforms announced on Tuesday that it has acquired Block Mining after a hostile takeover of another company, Bitfarms, last month.  

While others are gaining more diversified revenue through innovations such as artificial intelligence computing and chip manufacturing, Bitdeer only uses 36% of its electricity and is currently evaluating investing its electricity into AI and high-performance computing (HPC) companies to generate revenue. A large number of data centers are currently built and evaluated for use as artificial intelligence or high-performance computing data centers. Bitdeer is also moving into manufacturing chips specifically for Bitcoin mining.

▌VanEck Consultant: The logic of the Fed buying Bitcoin instead of Treasury bonds is based on the fixed total amount of Bitcoin

Gabor Gurbacs, a Tether strategy and VanEck consultant, said on the X platform that the logic of the Fed buying Bitcoin instead of US Treasury bonds is based on the fundamental difference between the two assets: one can be printed infinitely and the other cannot. This is essentially a hard asset acquisition strategy, similar to what central banks do with gold. By switching from Treasury bonds that can be printed at will to Bitcoin, which has a fixed supply, the Fed aims to diversify its asset holdings and potentially protect against inflation and monetary instability. In fact, this is a hedge against itself, which most central banks currently achieve mainly by holding gold. Bitcoin is increasingly being included in the hedging portfolio of central bank portfolios.

▌Analysts: Investors should increase risk and not ignore the current positive signals and market narratives

Nansen analysts believe that investors should increase risk and not ignore all the current positive signals and market narratives, including the Fed's expectations of rate cuts, the lead of US presidential candidate Trump in the polls, the widening spread between Bitcoin call options and put options, and the Bitcoin momentum indicator above the buying threshold. In addition, the inflow of funds to the spot Bitcoin ETF is increasing, while the on-chain transaction fees led by Ethereum are also growing, which is likely due to the launch of the Bitcoin ETF on July 23. The market value of stablecoins is also accelerating, indicating an increase in net inflows on the chain.

▌The TON network has currently pledged more than 675 million TON, accounting for 26.9% of the circulating supply

According to tonscan data, the TON network currently has a total of 677 million TON staked, accounting for 26.9% of the circulating supply (2.5165 billion). In addition, the current pledge APY is 3.7%, and the network has a total of 400 verification nodes.

Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged this week is 95.9%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged this week is 95.9%, and the probability of a 25 basis point rate cut is 4.1%. The probability of the Fed keeping interest rates unchanged by September is 0%, the probability of a cumulative 25 basis point rate cut is 87.7%, the probability of a cumulative 50 basis point rate cut is 11.9%, and the probability of a cumulative 75 basis point rate cut is 0.4%.

Golden Encyclopedia

▌What is Delegated Proof of Stake (DPoS)?

DPoS is an evolution of the Proof of Stake (PoS) consensus mechanism designed to provide enhanced scalability, efficiency, and democratic governance. Daniel Larimer proposed the DPoS concept in 2014 as an enhancement of the traditional PoS consensus mechanism to improve efficiency and scalability. Larimer first shared his vision in a Bitcointalk forum post, which led to the actual implementation of DPoS and the launch of BitShares in 2015. This marked the beginning of DPoS in blockchain technology, laying the foundation for its adoption in other projects such as Steem and Eos. Eos, in particular, used a consensus mechanism to conduct one of the largest initial coin offerings (ICOs) in the cryptocurrency industry in 2017, which attracted a lot of attention to DPoS and highlighted its potential in achieving high performance and decentralized governance.

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