Rhythm Evening News｜A list of important information in the crypto industry on August 8
JP Morgan: Bitcoin rebound mainly due to the support of institutional investors
BlockBeats news, August 8, according to The Block, on Monday, the cryptocurrency market suffered the most severe correction since the FTX crisis, and the price of Bitcoin fell by more than 15% at one point, and then rebounded. JPMorgan analysts said that the rebound was mainly due to institutional investors. Despite the overall market turmoil, institutional investors have limited or even no de-risking of Bitcoin futures.
JPMorgan analysts wrote in a report on Wednesday that JPMorgan's futures position indicators show that these investors are optimistic about the prospects. They said that the higher premium of Bitcoin futures prices to spot prices shows that futures investors are confident.
Analysts believe that there are many reasons for institutional investors to remain optimistic. Last week, Morgan Stanley allowed its wealth advisors to recommend spot Bitcoin exchange-traded funds to some clients. In addition, analysts said that the large-scale liquidations of Mt.Gox and Genesis bankruptcy may be over, while cash payments from FTX bankruptcy later this year may stimulate demand in the cryptocurrency market. In addition, they added that both major U.S. political parties have expressed support for favorable cryptocurrency regulation. However, analysts pointed out that these positive catalysts have been largely taken into account by the market. Analysts also pointed out that this round of Bitcoin's sharp decline was not caused by cryptocurrency-specific problems, but by the pullback of traditional risk assets such as stocks.
BlockBeats news, on August 8, QCP Capital's latest report pointed out that the deputy governor of the Bank of Japan downplayed the possibility of another interest rate hike in the near future. The crypto market seized the opportunity to recover, but Ethereum (ETH) still performed poorly. There may be upside limits in the near term, with Jump Trading continuing to sell ETH (21,394 wstETH remaining, about $63.6 million), and Plus Token Ponzi 2 Ethereum wallets moving a total of 25,757 ETH ($63.1 million) in the past 30 hours.
Remaining bullish on Bitcoin (BTC) as significant buying of call options for December and March expiration is seen. Major funds also continue to roll over their September call options positions.
Zhu Su: The real bull market has not yet begun
BlockBeats news, on August 8, Zhu Su, co-founder of Three Arrows Capital, posted on social media, "The real bull market has not yet begun. People's attention span is getting shorter and shorter, but the cycle is getting longer and longer. Either prepare for the next few decades, or give up."
LDO, CVX, and G are at the top of the Smart Money 24-hour inflow list
BlockBeats news, on August 8, according to Nansen data, Smart Money 24-hour Ethereum network capital inflow tracking list is as follows:
LDO: Inflow of US$2.19 million, current quotation
CVX: USD 1.85 million flowed in, currently quoted at USD 2.323, down 3% in 24 hours;
G: USD 0.0406 flowed in, currently quoted at USD 0.066, up 12.87% in 24 hours.
BlockBeats news, on August 8, the Indian crypto trading platform WazirX said on the X platform that after careful consideration of the situation and receiving a lot of user feedback, it decided to restore the balances of all accounts and revoke all transactions on the WazirX platform after withdrawals were stopped at 1 pm Indian Standard Time on July 18, 2024.
The asset balances of all users on the WazirX platform will be restored to the status at 1 pm on July 18, 2024. The restoration process will be completed in the next few days, and affected users will be notified of the affected transactions by email.
This decision was made after careful consideration to protect the integrity of our platform and provide a fair outcome for users following the unusual cyberattack that occurred on July 18, 2024.
BlockBeats news, on August 8, Meson Network CEO Sherlock Shi responded to OKX’s recent decision, saying that although OKX’s decision is frustrating, the company will continue to work hard to achieve its goals and comply with OKX’s requirements. And clarified several key aspects of the company:
· Meson Network’s core business is to operate the bandwidth market and provide dynamic/static IP proxy services to customers who need proxy services;
· The company’s customers are mainly from the Internet field, and their needs are not easily affected by token prices;
· The token model was chosen to provide a smoother experience and a more convenient way to obtain resources;
· The company is developing its own chain to meet market demand;
· The company has found product-market fit based on residential IP products, and will focus on increasing the number of nodes and expanding the revenue scale of these products in the future;
· In addition, it plans to launch its own chain (Epic: Meson-3.0).
Polymarket predicts that Harris's chances of winning have exceeded Trump's chances of winning
BlockBeats news, on August 8, Polymarket predicted that Harris's chances of winning have exceeded Trump's chances of winning. The probability of Trump winning the 2024 US presidential election has dropped to 49%, and Kamala Harris's chance of winning the 2024 US presidential election has risen to 50%.
BTSE DEX completes integration with Orderly, providing users with EVM on-chain transactions
BlockBeats news, on August 8, according to the official website of Orderly Network, BTSE DEX has completed integration with Orderly Omnichain, further expanding to EVM on-chain transactions. As one of the earliest protocols integrated with Orderly Network's NEAR public chain, this integration further enriches the Orderly ecosystem and infrastructure.
After this integration, with the technical support of Orderly, BTSE DEX users can trade on EVM chains outside of NEAR, including Ethereum Mainnet, Arbitrum, Polygon, Optimism, Base, and Mantle.
Orderly is a full-chain derivatives liquidity layer project that integrates full-chain derivatives liquidity to provide liquidity and settlement support for any asset, any public chain, and any product interface. Orderly's shared order book integrates on-chain liquidity to provide deeper liquidity, smaller spreads, and slippage for transactions.
BlockBeats news, on August 8, according to the official announcement, Binance Financial Management, One-Click Coin Purchase and Flash Exchange trading platforms have launched Toncoin (TON).
In addition, Binance will launch TON on the leverage and fixed investment platforms at 20:00 on August 8, 2024 (Eastern Time 8) and 18:00 on August 12, 2024 (Eastern Time 8). Coinbase International has launched MEW, MEME and JASMY perpetual contracts. According to BlockBeats, on August 8, Coinbase International Exchange posted on the X platform that Coinbase International Exchange and Coinbase Advanced have launched MEW, MEME and JASMY perpetual contracts, and the relevant markets have entered a full trading mode.
New York judge approves $12.7 billion settlement between FTX, Alameda and US CFTC
BlockBeats news, on August 8, according to Cointelegraph, a New York judge has finally approved the bankrupt cryptocurrency trading platform FTX and Alameda Research to repay $12.7 billion to FTX creditors. This move is part of a settlement with the US Commodity Futures Trading Commission (CFTC).
In an Aug. 7 filing, U.S. District Judge Peter Castel formally approved the $12.7 billion consent order reached between FTX and Alameda to resolve a 20-month-long litigation with the CFTC.
Welcome to join the official BlockBeats community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Official Twitter Account: https://twitter.com/BlockBeatsAsia
Related Articles
