Lido expands connection with BNB Chain
On August 9, Lido DAO (COIN:LDOUSD) approved the integration of
Axelar and Wormhole to connect Lido Staked ETH (stETH) to the BNB
Chain. This bridge will enable $23 billion in total value locked to
interact with the BNB Chain. It marks Lido’s first connection with
a layer-1 blockchain outside Ethereum, expanding its impact in
liquid staking and DeFi. Lido, with 28.2% of the Ether staking
market, has solidified its leadership in DeFi, reaching one million
validators and significantly contributing to the sector’s total
value locked.
Golem rises 34% in the last 7 days
Golem (COIN:GLMUSD) recently faced volatility, leading to mixed
investor sentiment and a decrease in the number of network
addresses. However, large investors, known as “whales,” have shown
optimism by accumulating nearly 11 million GLM in recent days. The
token’s price has risen by 34.16% over the past week, currently
priced at $0.315130. If the price surpasses the $0.47 resistance, a
significant increase is expected. However, if it fails to break
this barrier, GLM may face additional resistance and remain below
$0.40 for a longer period.
SUI rises 80% in one week
The cryptocurrency of Sui Network (COIN:SUIUSD) recorded a
remarkable 79.68% price increase in the last week and an 18% rise
in the last 24 hours, reaching $1.03. The intraday high reached
$1.12. Daily trading volume surged, while technical indicators like
MACD show strength in the upward trend. Potential profit-taking
could lead to a price pullback to $0.46.
Aptos unlocks 11.31 million APT tokens
On August 12, Aptos (COIN:APTUSD) unlocked 11.31 million tokens,
increasing the circulating supply to 471.14 million. Aptos, a
Layer-1 blockchain focused on security and performance, has faced
criticism for its venture capital-influenced tokenomics. The unlock
will benefit community members, contributors, and investors. The
token reached an intraday high of $6.85, currently priced at $6.40,
gaining 11.7% in the last 24 hours. Over the past 7 days, it has
risen by 19.96%.
Aleph Zero launches new layer 2 for Ethereum
Aleph Zero (COIN:AZEROUST) launched its Ethereum-compatible
layer 2 solution, using its WASM-based layer 1 and zkOS for
enhanced privacy and efficiency. The new Ethereum Virtual Machine
(EVM) layer will reduce block times to 250 milliseconds. Developed
with Gelato and Arbitrum Orbit, the new network promises fast
transactions and support for Ethereum applications, while the AZERO
token will continue to power gas transactions.
Marathon Digital seeks to raise $250 million for Bitcoin expansion
Marathon Digital Holdings (NASDAQ:MARA) aims to raise $250
million through a private convertible note offering to expand its
Bitcoin reserves. The company, which holds over 20,000 Bitcoins,
produced 579 Bitcoins in July and purchased $100 million in Bitcoin
earlier this month. This move follows the strategy of companies
like MicroStrategy (NASDAQ:MSTR), which accumulate Bitcoin as
corporate assets.
Argo Blockchain repays $35 million loan to Galaxy Digital
Bitcoin miner Argo Blockchain (NASDAQ:ARKB) has completed the
repayment of a $35 million loan obtained from Galaxy Digital in
2022. This repayment, considered a “significant milestone,” was
made without affecting the company’s hash rate, essential for
Bitcoin mining. In December 2022, Argo avoided bankruptcy through
this loan and the sale of its Helios facility.
Bitcoin mining revenue hits annual low
On August 11, daily revenue for Bitcoin miners fell to $2.54
million, marking a new annual low. After the April halving, which
cut rewards from 6.25 BTC to 3.125 BTC, daily earnings fell below
$3 million for the first time in May.
Bitcoin drops after weekend sell-off
On Monday, Bitcoin’s (COIN:BTCUSD) price fell 0.3% to $58,542
after a weekend sell-off. Despite some recovery late last week,
market sentiment remains fragile, with investors concerned about
upcoming U.S. inflation data due on Wednesday. A holiday in Japan
also reduced trading volume, and a strong dollar weighed on risk
assets. Analysts suggest a possible correction below $55,000 before
any recovery. An important trendline is around $63,000. Recovery
above this level could propel Bitcoin to new highs, with a
potential six-figure rally. However, a high CPI reading could
intensify corrections.
$89 million outflows from U.S. Bitcoin ETFs
On August 9, U.S. Bitcoin ETFs faced net outflows of $89.7
million, according to data from Farside Investors. While
BlackRock’s (NASDAQ:IBIT) and Grayscale Bitcoin Mini Trust ETFs
(AMEX:BTC) saw inflows of $9.6 million and $15.6 million,
respectively, Grayscale Bitcoin Trust (AMEX:GBTC), Fidelity
(AMEX:FBTC), and Bitwise (AMEX:BITB) ETFs saw withdrawals of $77
million, $19.8 million, and $18.1 million. By February 15, ETFs
accounted for approximately 75% of new Bitcoin investments,
contributing to the asset’s appreciation above $50,000.
Tether responds to Celsius litigation with extortion allegations
Tether (COIN:USDTUSD) contested a lawsuit filed by bankrupt
Celsius, demanding the return of about $3.3 billion in Bitcoin.
Celsius alleges that Tether sold Bitcoin at low prices and
committed fraud by preferentially securing payment. Celsius also
seeks $100 million in damages for breach of contract. Tether
responds that it followed the contract correctly and considers the
lawsuit baseless, emphasizing that its funds are secure and that
the case will be vigorously defended.
Brazil approves first Solana ETF, but skepticism remains in the
U.S.
Brazil’s Securities and Exchange Commission (CVM) approved the
first Solana spot ETF, to be offered by QR and managed by Vortx.
The fund will use the CME CF Solana Dollar Reference Rate to
determine Solana’s price in dollars. While the ETF is in the
pre-operational stage, its final approval depends on B3. The launch
is expected within the next 90 days.
U.S. financial experts are skeptical of a Solana spot ETF due to
the high daily issuance of SOL tokens (COIN:SOLUSD), totaling
162,503 SOL per day, valued at around $25 million. Critics fear
that this excessive supply could destabilize SOL’s price, and the
absence of a similar ETF in the U.S. may limit institutional
interest.
KfW and Boerse Stuttgart Digital announce partnership for digital
bonds
Germany’s leading development bank, KfW, has partnered with
Boerse Stuttgart Digital (BSD) to issue blockchain-based digital
bonds. The issuance, scheduled for the coming weeks, will be
conducted under Germany’s electronic securities law. BSD will
handle the security of cryptocurrency wallets and private keys. The
offering is part of the European Central Bank’s tests for
blockchain transactions.
El Salvador receives record $1.6 billion investment for port
modernization
El Salvador’s President Nayib Bukele announced a historic $1.6
billion investment from Yilport Holdings to modernize the Acajutla
and La Unión ports. Yilport, in partnership with CEPA, will upgrade
the infrastructure and expand the ports’ capacity. The project is
part of the government’s third phase of economic development, aimed
at boosting trade and creating jobs. The upgrade of La Unión port
aligns with plans for the proposed Bitcoin City.
Tornado Cash developer seeks funds for appeal in the Netherlands
Alexey Pertsev, sentenced to five years in prison for his
developments in the Tornado Cash protocol (COIN:TORNUSD), is
seeking to raise between $750,000 and $1 million for his legal
defense. On August 10, he launched a public campaign on Juicebox to
raise Ether. The crypto community has already donated 15.35 ETH and
over $40,000 for his cause, highlighting support for privacy and
open-source code.
Binance challenges: blockages in Venezuela and health crisis of
detained executive
Tigran Gambaryan, a Binance executive detained in Nigeria, is
facing a severe deterioration in his health, requiring urgent
surgeries for a herniated disc and tonsils. His wife, Yuki, has
appealed to the Nigerian government to release or allow proper
treatment, highlighting that his condition could cause permanent
damage. Gambaryan, confined to a wheelchair, has also suffered from
malaria and severe infections.
In Venezuela, Binance users are facing difficulties accessing
the platform due to blockages imposed by the state-owned operator
CANTV, which is blocking the Amazon CloudFront service. Binance has
reported that it is monitoring the situation and assured the
security of users’ funds. The blockage comes after President
Nicolás Maduro announced the suspension of access to X for 10 days,
citing efforts to combat violence plans.
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