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Daily Legal News | Starknet network's TVL has rebounded to $158 million, with a growth rate of 51.72% in the past 7 days; a whale transferred 7,400 MKR from Binance, worth about $8 million.

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September 4th Cryptocurrency Industry Important News Overview, GN!

Selected News:

1. Starknet network TVL has risen to $158 million, with a 7-day increase of 51.72%.

2. Linea announced that it will release important news tomorrow;

3. Data: A certain whale transferred 7400 MKR, worth about $8 million, from Binance.

4. Bitcoin Volatility Index rose to 39.65 yesterday, with a daily increase of 3.61%.

Project Updates

Linea will announce important news tomorrow

Ethereum Layer2 network Linea announced on social media that it will release important news tomorrow. It is worth noting that the tweet contains the hashtags #ImportantNews and #NotRelatedToAirdrop.

OKX Chief Business Officer: Preparation for Hong Kong license application has entered the final stage, hoping to obtain the license in Q1/Q2 next year

According to the report from Huigang Communication, Li Zhikai, the Chief Business Officer of OKX Global, stated that the preparation for OKX HK's compliance license application in Hong Kong has entered the final stage, and they hope to obtain the license in Q1/Q2 of next year. In the first year after obtaining the license, they may be able to attract 100,000 to 200,000 Hong Kong retail investors. Li Zhikai said that it is expected that the number of brokers receiving licenses next year will not increase significantly. He believes that the Securities and Futures Commission will be conservative and have very high requirements for applicants, and that the authorities will want to observe the operating conditions of license applicants first.

Data

Bitcoin-denominated open interest ratio rises to 33%, which may make it easier to trigger market volatility

According to Glassnode data, since July, the proportion of Bitcoin futures open contracts collateralized with Bitcoin has risen from about 20% to 33%. Cash or stablecoin collateralized contracts still account for 65% of the total open contracts. In response, research firm Blockware Intelligence stated that the renewed interest in BTC collateralized contracts could lead to a series of liquidations that could cause market fluctuations. Blockware Intelligence analysts stated, "Using BTC as collateral for BTC derivatives is actually a double blow. If you go long on BTC with BTC as collateral, a price drop will make you reach the liquidation point faster because the value of your collateral is also decreasing. Even if the long-term direction is correct, short-term fluctuations can be very risky. The surge in this indicator over the past few months is curious, which may indicate that traders are running out of cash and are using Bitcoin leverage as a last resort to increase risk exposure."

A newly created address has withdrawn approximately 3 million SNX and 500,000 LPT from Binance today.

According to the on-chain data analyst Yu Jin's monitoring, a newly created address has withdrawn a total of 3,000,996 SNX (approximately $6.73 million) and 502,385 LPT (approximately $3.9 million) from Binance in the past 5 hours. As of the time of writing, SNX has increased by 11.03% in the past 24 hours, currently trading at $2.22; LPT has increased by 15.54% in the past 24 hours, currently trading at $7.65.

Starknet network TVL rebounds to $158 million, with a 51.72% increase in the past 7 daysAccording to L2BEAT data, the TVL of the Starknet network has risen to $158 million, with a 51.72% increase in the past 7 days. BlockBeats previously reported that Starknet announced on social media on August 29th that it will issue commemorative NFTs to celebrate the Starknet mainnet Quantum Leap. The minting activity was temporarily suspended due to network load issues and is expected to resume in the next few days.

Data: Whale address transferred 2.689 million ARB to Binance 1 hour ago

According to the on-chain data analyst Yu Jin, the whale address that withdrew 6.75 million ARB from CEX between March 29th and May 17th transferred 2.689 million ARB to Binance one hour ago. If the ARB is sold immediately after being transferred to CEX, this portion of the ARB position will incur a loss of $850,000.

0x475 started whale address has withdrawn a total of 11,231 MKR from Binance in the past 4 hours

According to Lookonchain data, the whale address starting with 0x475 has withdrawn a total of 11,231 MKR (valued at approximately $11.3 million) from Binance in the past 4 hours, with an average price of approximately $1,125 per MKR.

Data: A certain whale transferred 7400 MKR, worth about $8 million, from Binance 2 hours ago.

According to Scopescan, the whale "0x4751" transferred 7,400 MKR (worth $8 million) from Binance two hours ago. This move seems to have temporarily boosted MKR to $1185, and it is currently trading at $1089. BlockBeats previously reported that on September 4th, the whale "0x4751" transferred 156,000 UNFI (worth $1.46 million) to Binance and realized a profit of $641,000.

Related reading: "Offending Vitalik? What's next for MakerDAO".

Data: A certain whale transferred 156,000 UNFI to Binance 17 hours ago and has earned $641,000 in profit

According to The Data Nerd's monitoring, UNFI has risen by 270% in the past 30 days. A certain whale "0x475" transferred 156,000 UNFI (1.46 million US dollars) to Binance 17 hours ago and has made a profit of 641,000 US dollars. It is understood that the whale holds a total of 906,000 UNFI with an average holding price of $5.27 and currently holds 750,000 UNFI with an unrealized profit of $3.08 million.

SNX short-term breakthrough $2.3, 24-hour increase of 15.29%According to OKX market data, SNX has broken through $2.3 in the short term and is currently priced at $2.284, with a 24-hour increase of 15.29%.

0x362 suspected of going long on ETH through loop borrowing

According to @EmberCN's monitoring, a whale with an address starting with 0x362 exchanged 11,200 ETH (approximately $18.36 million) for 9839 wstETH, and then mortgaged the wstETH to borrow 10 million USDT. They then used the 10 million USDT to purchase 6081 stETH at an average price of $1644.

A certain multi-signature address purchased 32,820 RPL at an average price of $22.4

According to Lookonchain monitoring, an anonymous multi-signature wallet address spent 450 ETH (approximately $735,000) at an average price of $22.4 to purchase 32,820 RPL in the past 8 hours.

In the past half month, 3 addresses have withdrawn a total of $22.58 million worth of UNFI from Binance.

According to @EmberCN's monitoring, UNFI has risen from $3 to $10 in the past half month, perhaps related to these three on-chain addresses: 0x674 starting address: 8/24-9/1, accumulated withdrawal of 1.31 million UNFI (approximately $12.11 million) from Binance, with an average price of $5.73; 0x475 starting address: 8/23-8/30, accumulated withdrawal of 0.9 million UNFI (approximately $8.35 million) from Binance, with an average price of $5.2; 0x997 starting address: 9/2-9/4, accumulated withdrawal of 0.23 million UNFI (approximately $2.12 million) from Binance, with an average price of $7.56.

Upbit is suspected to have transferred 3.944 million CYBER to Binance.

According to Scopescan, Upbit is suspected to have transferred 3.944 million CYBER tokens to Binance and currently still holds 0.347 million CYBER tokens.

GTC 2-hour surge over 60%, currently trading at $1.51

According to market data, GTC rose to 1.567 and then fell back, currently priced at 1.51 US dollars, with a 24-hour increase of 67.414%.

Bitcoin volatility index rose to 39.65 yesterday, with a daily increase of 3.61%.

The BitVol (Bitcoin Volatility) index launched by T3 Index, a financial index company, in collaboration with Bitcoin options trading platform LedgerX, rose to 39.65 yesterday, up 3.61% from the previous day. BlockBeats Note: The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by the actual option price. It is calculated using the B-S option pricing formula, which takes the actual option price and other parameters except for the volatility σ into the formula to derive the volatility. The actual price of an option is formed by the competition of many option traders. Therefore, implied volatility represents the market participants' views and expectations of the future market, and is regarded as the closest to the true volatility at that time.

Or influenced by Vitalik's remarks, the Reflexer stablecoin protocol based on RAI saw its token rise more than 80% in 24 hours.

According to CoinGecko data, the Reflexer stablecoin protocol based on RAI has seen its token FLX surge over 80% in the past 24 hours, currently trading at $13.5. As previously reported by BlockBeats, Vitalik Buterin mentioned in a Reflexer Finance Discord discussion that RAI, as the first stablecoin on the Reflexer platform, may become a strong supporter of non-popular liquid staking derivatives (LSD). In addition, on March 11th, an address marked as Vitalik deposited 500 ETH into Reflexer to mint 150,000 RAI tokens.

dYdX community has voted in favor of the "V4 adopts DYDX token migration to dYdX chain" proposal.

According to the Snapshot page, the dYdX community has voted in favor of the "V4 adopts DYDX token migration to dYdX chain" proposal. The proposal was initiated by the crypto market maker Wintermute and, once approved, the dYdX community will adopt the dYdX v4 open-source software as the next version of the dYdX protocol. Additionally, DYDX will be used as the L1 token for the dYdX chain.

Consensys Survey: Nigeria has the highest cryptocurrency awareness in the world

ConsenSys, an Ethereum infrastructure development company, released a survey report on its official website stating that Nigeria has the highest cryptocurrency awareness in the world. In a public opinion poll, 99% of respondents said they were aware of cryptocurrencies, and 70% of respondents had a clear understanding of the basic concepts of blockchain technology. In addition, South Africans also showed strong interest in cryptocurrencies in this survey. 98% of respondents said they were familiar with cryptocurrencies, and 80% of South African respondents said they were willing to invest in cryptocurrencies. The survey was conducted by ConsenSys and YouGov from April 26, 2023 to May 18, 2023, with a total of 15,158 people aged between 18 and 65 participating globally.

Upbit platform CYBER premium over mainstream platforms has been eliminated

According to CoinGecko data, Upbit's CYBER is currently priced at $6.85, with no premium compared to mainstream platforms at $6.89. In addition, the CYBER/BTC trading pair on Upbit has a trading volume of $18.4 million in the past 24 hours. During the same period, the CYBER/USDT trading pair on Binance had a trading volume of $103 million.

Data: DEX monthly spot trading volume hits new low since December 2020

According to data from The Block, the spot trading volume of decentralized exchange (DEX) in August reached 22.19 billion US dollars, hitting a new low since December 2020 (21.9 billion US dollars). Among them, Uniswap's market share in August was 55.34%, a decrease of about 5 percentage points from July's 60.55%.

Data: The current total market value of stablecoins is approximately USD 125.2 billion, with a growth of 0.58% in the past week.

According to DefiLlama data, the current total market value of stablecoins is approximately USD 125.191 billion, with a growth of 0.58% over the past week. In addition, USDT stablecoin market share is 66.19%.

Data: CEX monthly spot trading volume hits new low since October 2020According to data from The Block, the spot trading volume of CEX in August was 422.95 billion US dollars, hitting a new low since October 2020 (when the trading volume was 226.58 billion US dollars). In addition, Binance's spot trading market share has continued to decline, dropping from 46.88% in July to 45.42% in August.