Planet Daily | นักขุด Bitcoin และรายได้จากการสเตคกิ้ง Ethereum ต่างก็ลดลงในเดือนสิงหาคม Citi: หากอัตราการว่างงานของสหรัฐฯ ถึง
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Wall Street believes that this weeks non-farm data may be a decisive factor in the extent of the Feds interest rate cut in September. Citibank analysts expect non-farm payrolls to increase slightly by 125,000 in August, a slight increase from 114,000 in July, and the unemployment rate is expected to stabilize at 4.3%, or it may fall to 4.2%. Citi believes that if the employment report meets the banks expectations, that is, employment growth of 125,000 and unemployment rate of 4.3%, then the Fed will cut interest rates by 50 basis points at the upcoming September meeting. The reason for the rate cut is that there are downside risks in the labor market, especially when job growth is less than 175,000 and the unemployment rate remains high. (Jinshi)
LayerZero launches community program to distribute 5 million ZRO tokens
The LayerZero Foundation stated on the X platform that the LayerZero community plan has officially started, with three new roles to choose from: community member, builder, or content creator. In addition, by making a significant impact in the community, users can upgrade their levels (including zerolayer, intern, hero, og, legend, god).
It is reported that the entire plan allocates 5 million ZRO token rewards to provide millions of ZRO to community members throughout the activation period. Members who join the community before June will first receive an initial allocation of 25,000 ZRO.
The Block Pro data shows that Bitcoin miners revenue in August reached $851.4 million, a decrease of 10.4%. In addition, Ethereum staking revenue also fell by 19.3% to $218.2 million.
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Noelle Acheson, author of Crypto Is Macro Now, said that interest rate cuts are good for Bitcoin because Bitcoin is sensitive to monetary liquidity conditions. Bitcoin is also seen as a risky asset that has no cash flow or profit margins and will not be hit by economic slowdowns. A weaker dollar is good for Bitcoin because Bitcoin generally tends to increase monetary liquidity by reducing capital costs. (Coindesk)
JPMorgan: Fed rate cuts may not be enough to further boost stocks
JPMorgan strategists including Mislav Matejka said that stock market sentiment and positioning indicators look far less attractive, and while the Federal Reserve will implement monetary easing policies to cope with slowing growth, it may not be enough to further boost stocks and push them to record levels. In addition, political and geopolitical uncertainties have increased, and seasonal factors in September are more challenging again. (Jinshi)
The US SEC may require FTX to use stablecoins to repay customers after bankruptcy
The U.S. Securities and Exchange Commission (SEC) may have set up obstacles to the confirmation of FTXs bankruptcy plan, according to a court filing on Friday. The SEC said it may challenge any distribution to creditors involving crypto assets. Earlier this year, the FTX bankruptcy court proposed a plan under which 98% of creditors would recover 118% of their claims in cash within 60 days of court approval. The SEC said that the FTX bankruptcy agencys previous filings defined cash as including stablecoins pegged to the U.S. dollar. FTX did define cash as U.S. legal tender or its equivalent, including stablecoins pegged to the U.S. dollar, bank deposits, checks, and other similar items in its earlier filing on August 2. The FTX debtors are exploring different distribution options, including the possible distribution of stablecoins to certain creditors, the SEC said in Fridays filing. Under federal securities laws, the SEC will not express an opinion on the legality of the transactions outlined in the plan and reserves the right to question transactions involving crypto assets. (Coindesk)
ForexLive analyst Giuseppe Dellamotta said that the employment sub-index fell to a four-year low before the release of the non-farm payrolls report, which may have triggered a new wave of risk asset selling. Later this week, the market focus will turn to the JOLTS job vacancy data released on Wednesday, the ISM service industry PMI, ADP and weekly initial jobless claims released on Thursday, and the highlight of this week – the August non-farm payrolls (NFP) report released on Friday. (Coindesk)
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Radiant submitted RFP-44, a proposal aimed at optimizing RDNT token supply and incentivizing long-term lockup.
This proposal adjusts the allocation strategy of RFP-35, no longer using qLP (cross-chain LP) as the basis for allocation, and introduces a new allocation mechanism based on the total amount of RDNT locked across the users cross-chain positions (qRDNT).
RFP-44 plans to allocate 25% of the future additional token supply to lock-up users, totaling 125 million RDNT, to be distributed weekly over the next 104 weeks.
The current proposal support rate is 99.93% and will end on September 5th.
Ripple plans to launch new token standard MPT on XRP Ledger this month
Ripple will launch a new token standard MPT on XRP Ledger this month, aiming to enhance its support for real-world assets (RWA). Jasmine Cooper, Ripples DeFi product lead, explained that MPT is designed specifically for RWA and can store metadata directly with assets. This integration enhances the scalability and flexibility of XRPL, making it more suitable for institutional use cases and lowering the entry barrier for these organizations. (The Crypto Basic)
Forgotten Runiverse: Public beta will restart tomorrow morning
Forgotten Runiverse, an online role-playing game based on Ronin, announced on the X platform that the public beta will be restarted at 1 a.m. Beijing time tomorrow, and daily tasks will be resumed from the 5th day. The results of completed tasks in the game will be reflected on the Donut website.
Fractal Bitcoin: Public testnet will continue to run after the mainnet goes live
Fractal Bitcoin posted on the X platform that the public testnet will continue to run after the mainnet is launched.
Sahara AI: Launches Project Prometheus, plans to open early access to 2,000 product testers
Sahara AI, which has previously received investment from Binance Labs and a total financing amount of US$43 million, recently posted on the X platform: Introducing the PROMETHEUS program. Today, we provide early access to 2,000 product testers, whom we call Prometheans. These pioneers will be part of our Prometheus program and will gain a deeper understanding of our platform in the coming weeks. Their task is to use the product and work with our team to provide feedback and insights, which will play a key role in perfecting our platform and ensure that it meets the needs of the wider community as we prepare to release more information. The wait is about to end. Be sure to sign up for our waitlist and be the first to know about platform announcements.
OKX SG obtains Singapores large-scale payment institution license, Gracie Lin becomes CEO
OKX officially announced that its Singapore local entity OKX SG Pte. Ltd. (OKX SG) has obtained a Large Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS) and appointed Gracie Lin as CEO of OKX SG.
Under the licence granted under the Payment Services Act 2019 (PS Act), OKX SG can provide digital payment tokens and cross-border remittance services to users in Singapore, including spot trading (buying and selling) of cryptocurrencies.
As CEO, Gracie Lin will be responsible for the execution of the companys strategic plans, including the development of digital payment token products and services that meet the needs of Singapore customers. Gracie Lin has nearly two decades of experience in finance, the public sector, and technology. Prior to joining OKX, she was a member of the Grab management team, responsible for the regional strategy and economics team. Prior to this, she also held various positions at the Monetary Authority of Singapore (MAS) and the sovereign wealth fund GIC, accumulating rich experience in management, operations, business strategy and financial supervision. She graduated from the University of Chicago with a bachelors degree in economics and received a masters degree in international and development economics from Yale University.
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Alex Thorn, head of research at crypto asset manager Galaxy Digital, said that in addition to the early declines, another reason why August was so difficult was the oversupply of Bitcoin, although these supply oversupply issues have now been largely subsided or resolved. Most of the Bitcoin retained by the US government was seized from theft and will likely be returned rather than sold, with the German government having already completed its sales, and we believe the Bitcoin estate from Mt. Gox has been largely distributed, and all bankrupt companies have returned available tokens to creditors, the future of Bitcoin is bright from a supply perspective. The estate distribution of the defunct exchange FTX could be a positive catalyst, and we expect that repayment to begin within the next six months.
Thorn added that “the distribution will provide a significant amount of cash to a creditor group of known crypto investors who may consider reinvesting in the industry.” According to Thorn, Bitcoin may remain range-bound until November as the U.S. presidential election has a huge impact on investors. He said a Trump victory could be a positive catalyst, while any negative impact from a Harris win is likely to be minimal. “I expect volatility in the market until we know more about rate cut expectations and the election.”
Alex Thorn believes that only unexpected events will really affect the short-term price of Bitcoin at this point.
Zhu Su: Ethereum is Microsoft Vista
Zhu Su, founder of Three Arrows Capital, wrote on the X platform that Ethereum is Microsoft Vista.
(Note: Windows Vista is an operating system officially released by Microsoft on November 30, 2006, but on April 11, 2017, Microsoft announced the end of all support for Windows Vista.)
Justin Sun: This week we will focus on reducing Tron network fees
Justin Sun posted on the X platform that he would focus on reducing the transaction fees of the Tron network this week. Substantially reducing the transaction fees is the first step to attract more users to Tron, Meme and NFT, and he also expressed his wish for everyone to have a happy transaction on the Tron network.
Innokenty Isers, founder of cryptocurrency exchange Paybis, said: September is a negative month in Bitcoins history, with data showing that Bitcoins average value has shrunk by 6.56%. If the Fed cuts interest rates in September, this could help Bitcoin rewrite its negative history, as rate cuts typically lead to excessive dollar flows in the economy – further strengthening Bitcoins prospects as a means of storing value. (Coindesk)
Bitfinex Alpha said in its latest report that this months U.S. interest rate decision is expected to have a significant impact on Bitcoins short-term volatility and long-term trend. Bitcoin has risen by more than 32% since the beginning of August, driven by market participants expectations that the Federal Reserve will make dovish remarks. A 25 basis point rate cut may mark the beginning of a typical easing cycle, and Bitcoin may achieve long-term price increases as liquidity increases and recession concerns ease. On the other hand, a more aggressive 50 basis point rate cut may lead to price increases, but may be followed by a pullback as recession concerns increase. Over the past week, we have seen spot holders reduce risk while perpetual market speculators try to buy the dip, and we still observe a large number of open long positions in BTC perpetual contracts.
With the expected 15-20% decline expected in this month’s rate cut, BTC could bottom out between $40,000-50,000, as the cycle peaks in percentage returns are reduced by about 60-70% each cycle, and the average bull market retracement has also declined. But this logic could easily be overturned if macroeconomic conditions change. These are uncertain times for traders. Historically, September has been a volatile month for Bitcoin, with an average return of -4.78% and a typical peak-to-trough decline of about 24.6%.
OKX SG has been awarded a large payment institution license by the Monetary Authority of Singapore. OKX Star said on social media: We will continue to invest, build and support Singapores local fintech community and blockchain ecosystem. We earnestly fulfill our commitments to global regulators and continue to build OKX into a highly compliant cryptocurrency company. More than 10% of our employees are professional lawyers and compliance managers. At the same time, we also focus on innovation and will continue to launch outstanding products to serve 50 million customers worldwide.
Daniel Wu, an investor in Black Myth: Wukong, said in an interview with Zhen Fund recently: I have seen a large number of game industry entrepreneurs working on Web3 after Web3 came out. I will never invest in those people. First of all, they dont love games, so how can they make good games? Its a very simple truth.
It is reported that Daniel was the first person to invest in Black Myth: Wukong. Seven years ago, Hero Games, of which he was the president, invested 60 million in Game Science, accounting for 20% of the shares. Until Tencent acquired a stake in 2021, Hero Games was its only investor and the largest external shareholder.
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Web3 infrastructure project Caduceus completes Series A strategic financing, led by SIG
Web3 infrastructure project Caduceus announced the completion of its Series A strategic financing, with a total financing amount of tens of millions of dollars. This round of financing was led by Susquehanna International Group (SIG), a leading global venture capital and cryptocurrency liquidity provider founded by Jeff Yass, co-led by BlockFills, and followed by well-known institutions such as DWF Labs and KuCoin Ventures. It is reported that other institutions participating in this round of financing include Bin Zayed Group, Qredo, โทเค็นInsight, Nukkleus, Digital RFQ and Luna VC. This financing will be used to promote the further development and application of the Caduceus technology platform.
Caduceus is a project focused on Web3 infrastructure, committed to providing innovative solutions for the Web3 ecosystem. The companys core product is an infrastructure platform based on blockchain technology, on which users can build and run decentralized applications. In addition, Caduceus has received support from many celebrities, including legendary football star John Terry, former professional snooker legend Stephen Hendry, and cricket godfather Sir Ian Botham. Investors said they are optimistic about Caduceus potential and innovation in the field of Web3 infrastructure. They believe that Caduceus can make important contributions to the development of the Web3 ecosystem and promote the widespread application of blockchain technology.
Stablecoin issuer IDA completes $6 million seed round of financing, led by CMCC Global
Stablecoin issuer IDA has raised $6 million in a seed round led by CMCC Global, with participation from its Titan Fund and Hashed. The capital injection will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which is designed to be regulated in Hong Kong. Other participants in the round include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ and Yolo Investments, as well as well-known angel investors such as Solana co-founder Raj Gokal.
This article is sourced from the internet: Planet Daily | Bitcoin miners and Ethereum staking income both fell in August; Citi: If the US unemployment rate reaches 4.3% in August, the Federal Reserve will cut interest rates by 50 basis points (September 3)
Original author: VIKTOR Original translation: TechFlow BTC: 4-month range breakout and recovery, finally hitting $70,000 resistance BTC started the month with a 5-day sharp decline, which ended with a range breakout and a market sell-off (including altcoins and BTC) on July 5, with a low of $53,500 . This sell-off was likely caused by market participants’ improper positioning, but the main panic news at the time was that the German government was selling 50,000 $BTC that had been confiscated a few years ago. Subsequently, $BTC oscillated between $54,000 and $58,000 for a few days. On July 13, Donald Trump was shot at a conference, which triggered a strong rally in $BTC for a few days and also increased the possibility of Trump winning the election. Within a week, $BTC basically…