Musk pinned a picture with "DOGE" on it and Fractal Bitcoin mainnet was launched

Headline

▌Musk pinned a picture with the word "DOGE" and the text "Department of Government Efficiency"

Elon Musk posted a picture with the word "DOGE" on Twitter on X, and the text was "Department of Government Efficiency" (D.O.G.E). Earlier, Trump said that if he wins the election in November, he will set up a government efficiency committee led by Musk. Musk said on the social platform: "If I have the opportunity, I look forward to serving the United States. No reward, no title, no recognition."

▌Fractal Bitcoin mainnet is now online

UniSat announced on the X platform that the Fractal Bitcoin mainnet is now online. Users need to update to UniSat Extension v1.4.6 to access it. More features will be launched later.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $54,519.32, with a daily increase or decrease of +0.9%;

ETH's latest transaction price is 2,288.49, with a daily increase or decrease of +1.04%;

BNB's latest transaction price is $496.01, with a daily increase or decrease of +2.1%；

SOL's latest transaction price is 127.81 US dollars, and its intraday increase or decrease is +1.5%；

DOGE's latest transaction price is 0.0949 US dollars, and its intraday increase or decrease is +3.1%；

XPR's latest transaction price is 0.5299 US dollars, and its intraday increase or decrease is +2.1%.

Policy

▌El Salvador's Bitcoin adoption plan has made more than $31 million in profits on its third anniversary

El Salvador has been buying Bitcoin with dollar-cost averaging since 2021, buying 1 Bitcoin per day as part of its adoption plan. According to data from the Nayib Bukele Portfolio Tracker website, the country's wallet currently has more than $31 million in profits. Three years ago, on September 7, 2021, El Salvador became the first country in the world to adopt Bitcoin as a legal tender. The country aims to promote financial inclusion, promote more efficient remittance payments, and attract financial innovation.

Blockchain Applications

▌Floki: FLOKI holders need to check their qualifications again before the on-chain CAT airdrop distribution

On September 7, Floki officials published a statement on X stating that FLOKI holders need to check their airdrop qualifications again before the on-chain CAT airdrop distribution. The eligibility of the wallet depends on the number of FLOKI tokens held at the time of the August 29 snapshot. Other considerations include: Wallets need to hold at least 400,000 FLOKI tokens; Floki holders and stakers are eligible; Floki holders on the BNB and ETH chains are eligible (although the airdrop will occur on the BNB chain); Wallets that transfer or sell FLOKI tokens during the snapshot period (i.e. after August 22 and before the final snapshot on August 29) will be disqualified; The airdrop is based on the FLOKI holdings in the wallet on August 29.

▌Ethereum social graph protocol efp.eth has been released on the testnet

ETH Daily published an article stating that the Ethereum social graph protocol efp.eth has been released on the testnet and is open to all users. The protocol allows users to log in with their Ethereum wallets, follow others, block wallets, and check their leaderboard rankings. EFP enables users to create and manage watchlists through the EFP List NFT. The protocol integrates data from ENS records, displaying profile information such as profile pictures, bios, and social links. Users can also import watchlists from Farcaster and Lens protocols. The test version is designed to stress test the protocol, and actions taken during the test will not carry over to the mainnet. Users can also use the protocol to claim EFP Beta Tester POAP NFT.

Cryptocurrency

▌50 million USDC minted in the USDC treasury

According to Whale Alert monitoring, at 19:53:23 Beijing time, 50,000,000 USDC were minted in the USDC treasury and have been transferred to Coinbase.

▌Paxos releases August PYUSD transparency report: total circulation rises to over $900 million

Paxos officially releases August 2024 PYUSD transparency report, disclosing relevant unaudited data of PYUSD as of 05:00 Beijing time on September 1, 2024, including: 1. Total circulation (Total Tokens Outstanding) reached $908,164,708; 2. The current market value of collateral in U.S. Treasury bonds is approximately $149,017,480, and the nominal position value is approximately $148,342,340; 3. The current market value of collateral in U.S. Treasury bond-collateralized reverse repurchase agreements is approximately $619,324,620, and the nominal position value is approximately $607,181,000; 4. The current market value of cash deposits is approximately $156,006,044, and the nominal position value is approximately $156,006,044; 5. The current market value of collateral in total net assets is approximately $924,348,144, and the nominal position value is approximately $911,529,384.

▌ETH breaks through $2,300

The market shows that ETH has broken through $2,300 and is now at $2,302.73, with a 24-hour drop of 0.93%. The market is volatile, so please do a good job of risk control.

Important Economic Dynamics

▌Today's Fear and Greed Index rose to 23, and the level is still extreme fear

Today's Fear and Greed Index is 23, and the level is still extreme fear. Note: The threshold of the Fear Index is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).

Golden Encyclopedia

▌What is an inverse futures contract?

An inverse futures contract is a financial arrangement that requires the seller to pay the buyer the difference between the agreed price and the current price when the contract expires. Unlike traditional futures, the seller benefits from a drop in price. The nature of inverse futures contracts is non-linear. When a trader goes long a BTC/USD inverse futures contract, they are short the U.S. dollar. Because the contract is inverse, the trader's position is worth less in Bitcoin, and the higher the value of Bitcoin, the higher its value relative to the U.S. dollar.

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.