1004 BTC transferred from a dormant wallet that had been dormant for 10.6 years Biden: I will continue to run for election

Headline

▌A dormant wallet for 10.6 years transferred 1,004 BTC to a new wallet 50 minutes ago

According to Spot On Chain monitoring, a dormant wallet woke up after 10.6 years and transferred 1,004 BTC (57 million US dollars) to a new wallet about 50 minutes ago. The wallet received these BTC (737,000 US dollars) at an average price of only 731 US dollars in 2013 and 2014.

▌Biden: I will continue to run for election and will win again

US President Biden said, I am running for election and will win again; I will continue to run for election; I will not let the last debate erase the results of years of hard work.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 56479.65 US dollars, with a daily increase or decrease of -0.7%;

ETH's latest transaction price is 2977.09 US dollars, with a daily increase or decrease of -3.29%;

BNB's latest transaction price is 500.54 US dollars, with a daily increase or decrease of -1.73%；

SOL's latest transaction price is $134.61, with a daily increase or decrease of +5.54%；

DOGE's latest transaction price is $0.1068, with a daily increase or decrease of -5.45%；

XPR's latest transaction price is $0.4272, with a daily increase or decrease of +1.22%。

Policy

▌US House to Hold Crucial Vote on SAB 121 Veto

The US House of Representatives plans to hold a crucial vote next week on overturning President Biden's veto of Staff Accounting Bulletin 121 (SAB 121). The announcement has sparked controversy in the crypto industry, with concerns that it could affect banks' custody of digital assets. Although the House of Representatives passed the resolution in May by a vote of 228-182, a two-thirds majority in both houses is still required to overturn the veto. Political experts have mixed opinions on this vote, believing that it is difficult to successfully overturn the veto.

▌South Korea postpones virtual asset tax regulations until 2025

The South Korean government announced that it will postpone the implementation of new virtual asset tax regulations to January 2025 to address individual investor tax burdens and regulatory clarification issues. According to the new regulations, from 2025, the law will include income tax for residents, withholding tax for non-residents, and gift tax on virtual assets. The extension mainly affects the income tax of resident individuals and withholding tax for non-residents and foreign companies. Investors welcomed this and believed that the extension will help the government and industry better adjust to the smooth implementation of the new tax system.

▌Former US Attorney General accuses federal regulators of trying to isolate the digital asset industry from the traditional economy

Former US Attorney General Donald Verrilli claimed that federal regulators are actively and coordinatedly trying to "de-bank" the digital asset industry. He supported the appeal of Custodia Bank in court, which was rejected for its application for a master account at the Federal Reserve on the grounds that it was involved in cryptocurrency business. Verrilli believes that this reflects the efforts of federal regulators to isolate the digital asset industry from the traditional economy. Several politicians and organizations, including former Senator Pat Toomey and the Chamber of Digital Commerce, also supported Custodia's appeal. At present, the court has not announced its final decision on the case.

Blockchain Applications

▌Valora Launches Mobile Stack to Simplify the Creation of Web3 Native Applications on iOS and Android

P2P payment application Valora launches mobile stack Mobile Stack to simplify the creation of Web3 native mobile applications on iOS and Android.

▌JP Morgan, DBS and Mizuho test Partior blockchain FX PvP solution

Singapore-based Partior has completed a proof-of-concept for FX payment-to-payment (PvP) settlement using its blockchain network, with participants including JP Morgan, DBS Bank and Mizuho Bank. PvP settlement eliminates settlement risk by exchanging two currencies simultaneously, and Partior's solution supports 24/7 real-time atomic settlement, which is scheduled to be launched later this year.

▌Chappyz uses AI to solve the problem of fake user metrics and increase Web3 participation

Chappyz co-founders John Sears and Daniel Pal introduced their AI-driven community platform in a Cointelegraph AMA, which aims to solve the problem of fake users and vanity metrics in Web3 communities. Chappyz promotes user retention and engagement by rewarding real interactions and conversations. The platform is designed to be universal and plug-and-play, allowing users to log in through familiar platforms such as Google and Apple, simplifying Web3 wallet setup. Chappyz uses a customized AI protocol to analyze user contributions and detect and exclude fake accounts and malicious actors. Chappyz also plans to launch Chappyz V3 in July 2024, introducing real-time community health monitoring capabilities to provide community managers with in-depth Web3 community analysis.

Cryptocurrency

▌GSR deposited and sold 900,000 WLD on Binance

According to The Data Nerd, within 1 hour, GSR deposited and sold 900,000 WLD (about 1.65 million US dollars) on Binance.

▌BASE network lock-up volume is currently 1.318 billion US dollars, a 24-hour drop of 6.66%

According to DefiLlama data, the BASE network TVL is now 1.318 billion US dollars, a 24-hour drop of 6.66%. The top three TVL rankings of ecological protocols are as follows: Aerodrome TVL reached 465 million US dollars, with a 7-day drop of 21.29%; Uniswap TVL reached 233 million US dollars, with a 7-day drop of 15.31%; Extra Finance TVL reached 80.11 million US dollars, with a 7-day drop of 23.03%;

▌19331.59 BTC flowed out of exchange wallets in the past 24 hours

According to the latest data, 19331.59 BTC flowed out of exchange wallets in the past 24 hours, 7219.29 BTC flowed out of exchange wallets in the past 7 days, and 22503.03 BTC flowed out of exchange wallets in the past 30 days. As of press time, the total balance of exchange wallets is 2,472,856.26 BTC.

▌10,984 ETH transferred from an unknown wallet to Coinbase

According to Whale Alert monitoring, at 07:14:11 Beijing time today, 10,984 ETH (32,782,038 US dollars) was transferred from an unknown wallet to Coinbase.

▌Bloomberg: One of the fastest-growing projects in the crypto space this year is one related to Telegram

Bloomberg said in an article, "One of the fastest-growing projects in the cryptocurrency space this year is one related to Telegram, whose blockchain plan has previously caused dissatisfaction among U.S. regulators."

Important Economic Dynamics

▌Derivatives traders are certain that the Fed will cut interest rates twice this year

U.S. Treasuries rose, yields fell, and mixed data on the labor market kept traders betting that Fed officials would cut interest rates this year. Although the June nonfarm payrolls report showed higher-than-expected job growth, data for previous months was revised downward and the unemployment rate rose. Derivatives market traders further increased their bets on rate cuts, and their expected probability of two rate cuts this year has once again reached 100%. The probability of the Fed cutting interest rates as early as September is currently believed to be around 76%. Jeff Klingelhofer, co-head of investment at Thornburg Investment Management, said, "I think there is still room for U.S. bonds to rise. Judging from Powell's recent statements, he has a strong tendency to start a moderate easing cycle. The labor market is returning to a better balance, inflation faces downside risks, and the economy may slide into recession." Jeffrey Rosenberg, portfolio manager at BlackRock, said, "To consolidate the expectation of a rate cut in September, another round of data is needed to support it. More importantly, the inflation data next week and the data next month are more important."

▌Federal Reserve Semiannual Monetary Policy Report: Greater confidence in inflation is still needed before rate cuts

The Federal Reserve Semiannual Monetary Policy Report shows that inflation has made some progress this year, but greater confidence is still needed before rate cuts are made; real estate-related inflationary pressures are expected to gradually decline; although some banks' commercial real estate portfolios are "under pressure", the financial system remains "healthy and resilient"; liquidity for most domestic banks remains ample.

▌The interest rate swap market has once again fully priced in the Fed's two rate cuts before the end of the year

The interest rate swap market has once again fully priced in the Fed's two rate cuts before the end of the year.

▌The three major U.S. stock indexes closed up collectively, with the S&P 500 up 1.95% this week

The three major U.S. stock indexes closed up collectively, with the Dow up 0.17%, up 0.66% this week; the Nasdaq up 0.9%, up 3.5% this week; the S&P 500 up 0.54%, up 1.95% this week, with the Nasdaq and S&P 500 hitting new closing highs. Most of the popular technology stocks rose, with Meta up nearly 6%, Google, Apple, and Tesla up more than 2%, with Tesla rising for the eighth consecutive day, up nearly 30% this week, Microsoft and Amazon up more than 1%, and Nvidia down nearly 2%.

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 concept of DPoS in 2014 as an enhancement of the traditional PoS consensus mechanism designed 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.

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