Golden Morning News | SOL TVL increased by 22.02% and five Ethereum ETFs will be listed

Headlines

▌Solana TVL exceeds 6.6 billion US dollars, with a 7-day increase of 22.02%

DeFiLlama data shows that the current Solana network TVL is 6.664 billion US dollars, second only to Ethereum and Tron, with a 7-day increase of 22.02%.

▌Five spot Ethereum ETFs will be listed on the Cboe exchange on July 23

Cboe announced that five spot Ethereum ETFs will be listed on the exchange on July 23. These ETFs include Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF and 21Shares Core Ethereum ETF.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $63,955.95, with a daily increase or decrease of -0.2%;

ETH's latest transaction price is $3,426.79, with a daily increase or decrease of +1.1%;

BNB's latest transaction price is $571.92, with a daily increase or decrease of +0.6%;

SOL's latest transaction price is $158.96, with a daily increase or decrease of +2.1%;

XPR's latest transaction price is $0.5693, with a daily change of -9.1%.

Policy

▌The U.S. SEC established an interdepartmental securities committee to discuss the latest scams and response strategies

The U.S. Securities and Exchange Commission (SEC) said on the X platform that its law enforcement department established an interdepartmental securities committee this month, inviting federal, state and local regulatory and law enforcement professionals to meet quarterly to discuss the latest scams, trends, frauds and response mitigation strategies.

▌The European Central Bank is pushing Revolut to strengthen EU banking supervision

According to market news, the European Central Bank is pushing digital bank Revolut to strengthen EU banking supervision. It is reported that Revolut is one of the first banks to establish an independent trading platform to provide cryptocurrency trading for customers. Its cryptocurrency trading platform Revolut X is now open to professional cryptocurrency traders.

Blockchain applications

▌Telegram launches mini app store and in-app browser that supports Web3 pages

Telegram has become a popular portal for crypto games such as Notcoin, Yescoin and Hamster Kombat. Telegram has announced plans to strengthen its blockchain-related initiatives, including the launch of a mini app store and an in-app browser that supports Web3 pages. Telegram founder Pavel Durov posted in his Telegram channel that in order to keep the heat going, a mini app store and an in-app browser that supports Web3 pages will be launched this month.

▌Blinks developer Dialect launches upgraded Blinks public center

Blinks developer Dialect posted on the X platform that it has launched an upgraded Blinks public center, allowing developers to query and use hundreds of cases created by developers since the feature went online. In addition, Dialect launched a public center API that allows developers to upgrade use cases using received or submitted cases.

Cryptocurrency

▌Nearly $150 million worth of cryptocurrency was transferred from Robinhood to an unknown wallet

According to Whale Alert monitoring, around 7:17 Beijing time, 400,000,000 DOGE (50,338,797 US dollars) was transferred from Robinhood to an unknown wallet. Around 7:15 Beijing time, 2,700,000,000,000 SHIB (48,343,500 US dollars) was transferred from Robinhood to an unknown wallet. In addition, around 7:25 Beijing time, 400,000,000 DOGE (50,276,346 USD) was transferred from Robinhood to an unknown wallet again.

▌BlackRock IBIT had a net inflow of $114.9 million yesterday

According to TraderT monitoring, BlackRock IBIT had a net inflow of 1,730 BTC yesterday, worth $114.9 million, with a trading volume of $1.8 billion; in the 28th week since its listing, IBIT had a cumulative net inflow of $705 million.

▌In the second quarter, Binance accounted for 45% of the trading volume, ranking first among CEX

CoinGecko disclosed the trading volume of the top ten cryptocurrency exchanges in the second quarter of 2024. Binance accounted for 45% of the trading volume, ranking first among CEX.

▌Gemini and IRA Financial Trust reached a settlement on a $36 million loophole

Gemini has reached a settlement with the retirement and pension platform IRA Financial Trust on a $36 million loophole. In a document filed with the U.S. District Court for the Southern District of New York on July 18, Judge Analisa Torres dismissed the lawsuit filed by IRA Financial Trust because the company and Gemini Trust said they had reached a settlement. The statement did not include details about the settlement. It is reported that the lawsuit was originally filed by the IRA in June 2022, claiming that the lack of transparency in Gemini's security protocols made the company responsible for an attack in February 2022, when a malicious actor stole approximately $36 million in cryptocurrency. According to the platform, hackers gained control of the IRA master key, allowing them to transfer tens of millions of dollars worth of Bitcoin and Ethereum to a customer retirement account and then withdraw all of these assets.

▌US Congresswoman Cynthia Lummis: Bitcoin has not been affected by large-scale cyber attacks

US Senator Cynthia Lummis said, "Do you know which currency has not been affected by large-scale cyber attacks? - Bitcoin."

▌GBTC had a net inflow of US$20.3 million yesterday

According to Farside Investors monitoring, data from the US spot Bitcoin ETF yesterday (July 19) showed that GBTC had a net inflow of US$20.3 million; EZBC had a net inflow of US$3.9 million.

▌CryptoQuant: Current USDT market value growth rate is close to 0%

CryptoQuant released data on the X platform showing that the current USDT market value growth rate is close to 0%, lower than the 6.6% when Bitcoin broke through $70,000 in March. Faster growth in stablecoin liquidity is critical to the continued rise in crypto market prices. The liquidity of stablecoins, especially USDT, needs to be improved in order for Bitcoin prices to rise further.

Important Economic Dynamics

▌The White House raised its forecasts for US economic growth and inflation in 2024

The White House raised its forecasts for US economic growth and inflation in 2024, while continuing to expect large budget deficits in the coming years. The Office of Management and Budget (OMB) now expects U.S. GDP to grow 1.9% year-on-year in the fourth quarter. That's higher than its March forecast of 1.3%. CPI was also revised up to 3.1% from a previous estimate of 2.5%. The Biden administration released the forecasts on Friday in the OMB's so-called mid-term budget review.

▌State Street: Biden's withdrawal from the race puts the dollar at risk

State Street believes the dollar could see a "short-term negative reaction" if Biden withdraws from the U.S. presidential election and traders cut trades tied to Donald Trump's victory. State Street macro strategist Noel Dixon believes Biden's withdrawal would make the race more intense and cause market volatility, "basically what is being priced in is a Trump win." The "Trump trade" has investors betting that his economic policies will only reignite inflation, putting pressure on long-term Treasury yields and pushing up the dollar. "Both parties will have fiscal stimulus impulses but the Biden administration will have less," Dixon said. "All else being equal, the long end of the Treasury yield curve will be under less pressure." Traders will have to adjust their positions to adapt to this change.

▌The three major U.S. stock indexes closed down collectively

The three major U.S. stock indexes closed down collectively, with the Dow Jones Industrial Average down 0.93%, up 0.72% this week, and three consecutive weekly gains; the Nasdaq fell 0.81%, down 3.65% this week, ending three consecutive weekly gains; the S&P 500 fell 0.71%, down 1.97% this week, ending two consecutive weekly gains.

Golden Encyclopedia

▌What is an unlimited coin attack?

Unlimited coin minting attack is when the attacker manipulates the contract code to continuously mint new tokens that exceed the authorized supply limit. This hacking behavior is most common in decentralized finance (DeFi) protocols. This attack damages the integrity and value of cryptocurrencies or tokens by creating an unlimited number of tokens.

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