The global cryptocurrency market cap now stands at $2.01T, down by -0.83% over the last day, according to CoinMarketCap data.

Bitcoin (BTC) has been trading between $56,700 and $62,745 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,937, up by 6.61%.

Most major cryptocurrencies by market cap are trading mixed. Market outperformers include QKC, TON, and SAGA, up by 67%, 48%, and 31%, respectively.

Top stories of the day:

Brazil To Launch First Spot Solana ETF

CBOE Resubmits Application for Bitcoin ETF Options as Approval Looms

Grayscale ETHE Sees Significant Decline In Daily Outflows

US Unemployment Claims Hit New Low Since July

Dollar Faces Potential Decline Amid Weak US Economic Data

Binance Recovers Over $73M in Stolen Funds from External Hacks

US Proposes Tax-Free Bitcoin Digital Economy Zone

Market movers:

ETH: $2669.59 (+9.83%)

BNB: $508.3 (+3.95%)

SOL: $157.91 (+1.90%)

XRP: $0.593 (-3.81%)

TON: $6.458 (+48.39%)

DOGE: $0.10516 (+5.29%)

ADA: $0.3455 (+3.63%)

TRX: $0.1269 (+0.79%)

WBTC: $60976.68 (+6.67%)

AVAX: $21.81 (+5.98%)

Top gainers on Binance:

QKC/USDT (+67%)

TON/USDT (+48%)

SAGA/USDT (+31%)

According to PANews, the Hong Kong stock market data shows that as of the close of trading today, the total trading volume of all Hong Kong virtual asset ETFs reached approximately HKD 22.2 million. Among these, the Huaxia Bitcoin ETF (3042.HK/9042.HK/83042.HK) recorded a trading volume of HKD 9.61 million, while the Huaxia Ethereum ETF (03046.HK/09046.HK/83046.HK) saw a trading volume of HKD 3.90 million. Additionally, the Harvest Bitcoin ETF (03439.HK/09439.HK) had a trading volume of HKD 2.02 million, and the Harvest Ethereum ETF (03179.HK/09179.HK) recorded HKD 2.53 million in trading volume. The Bosera Bitcoin ETF (03008.HK/09008.HK) had a trading volume of HKD 2.41 million, and the Bosera Ethereum ETF (03009.HK/09009.HK) saw a trading volume of HKD 1.70 million.

It is noteworthy that all the mentioned virtual asset ETFs have both HKD and USD counters, with only the two Huaxia ETFs also offering RMB counters.

According to CryptoPotato, the Shiba Inu burn rate has surged by nearly 140,000% in the past 24 hours, with over 105 million tokens burned. This significant reduction in the circulating supply has been accompanied by a rise in other SHIB metrics, such as large transaction volumes and daily active addresses, indicating growing interest and engagement in the cryptocurrency.

Shiba Inu’s burning mechanism has seen a substantial resurgence recently. Data indicates that the burn rate skyrocketed by almost 140,000%, resulting in approximately 105 million tokens being sent to a null address. This figure is notable, especially considering that the total burned SHIB in the last seven days amounts to 114.7 million tokens. While the USD equivalent of the destroyed tokens is minimal, continuous burning efforts could positively impact the price of the meme coin by reducing its circulating supply, making it scarcer and potentially more valuable over time.

The Shiba Inu team has already burned over 41% of the total supply, or around 410.7 trillion tokens, leaving the current circulating supply at approximately 583 trillion SHIB. Meanwhile, the price of the meme coin has increased by 6% on a daily scale, currently trading at around $0.00001411. This marks a 30% spike compared to the local bottom observed during the recent crypto market crash. It remains to be seen whether this upward trend will continue, given the revival of the meme coin niche and the rebound of the entire crypto sector in recent days. Currently, about 47% of SHIB investors are experiencing paper profits, while more than 50% are still at a loss. During the bull run in mid-March, those in profit were around 63%.

In addition to the burn rate, other Shiba Inu-related metrics have also shown positive trends in the last 24 hours. Data from IntoTheBlock reveals that the aggregated daily volume of transactions exceeding $100K has increased by 52% to over $20 million. Daily active SHIB addresses have also risen, albeit more modestly. This resurgence suggests growing interest and increased user engagement and network activity, which could contribute to positive price momentum for SHIB.

According to BlockBeats, on August 9, the cross-chain smart contract platform Neutron announced that it has resumed block production. The platform's official statement indicated that a review will be released next week. The network is now stable, and activities can proceed as usual.

According to Odaily, modular liquidity protocol Mitosis has announced on its official website that it is actively seeking a second round of funding in Hong Kong and the United States. The protocol is aiming to expand its financial backing following a successful previous funding round earlier this year. In May, Mitosis secured $7 million in funding, with Amber Group and Foresight Ventures leading the investment. This new round of funding is expected to further support the development and expansion of the protocol's services and capabilities.

In addition to the funding news, Mitosis has also revealed plans to launch an incentivized testnet. The upcoming testnet, named 'Game of MITO,' will allow participants to accumulate MITO test coins, which will later be converted into governance tokens. This initiative is designed to engage the community and encourage participation in the protocol's development and governance processes. The incentivized testnet is a strategic move to build a robust and active user base, which is crucial for the protocol's long-term success and sustainability.

Mitosis's efforts to secure additional funding and launch an incentivized testnet highlight its commitment to innovation and growth within the decentralized finance (DeFi) space. The protocol's focus on modular liquidity solutions aims to address some of the key challenges in the DeFi ecosystem, such as liquidity fragmentation and inefficiencies. By continuing to attract investment and engage its community, Mitosis is positioning itself as a significant player in the evolving DeFi landscape.

According to U.Today, Shytoshi Kusama, the mysterious lead of Shiba Inu, recently commented on Ethereum co-founder Vitalik Buterin's personal life, which has sparked discussions within the cryptocurrency community. Kusama shared a tweet featuring a photo of Buterin and his new girlfriend, describing the news as both 'bullish and cute.' This sentiment is shared by many who believe that positive developments in Buterin's personal life could have a favorable impact on Ethereum and related cryptocurrencies like Shiba Inu. Notably, when Buterin ended a previous relationship in April 2023, Ethereum's price dropped by 10%, reaching a low of $2,000 for the first time in several months.

The SHIB community responded positively to Kusama's tweet, with many agreeing that good news about Buterin's personal life could be bullish for Ethereum. However, Ethereum has recently experienced significant volatility. The cryptocurrency plummeted by almost 24% from Sunday to Monday, dropping from $2,922 to $2,423. This decline was followed by a slight recovery of 13.67% by Wednesday, but the price has since dropped again to $2,425.

In related news, a wallet associated with Vitalik Buterin, known as Vb3, transferred 3,000 ETH worth $7 million to the vitalik.eth address three days ago. The vitalik.eth wallet now holds 245,223 ETH. While Buterin has been reshuffling his ETH holdings, Tron founder Justin Sun has been accumulating ETH since the beginning of the year. Despite rumors of Sun selling his ETH holdings, he has refuted these claims, and on-chain data confirms that his wallet has not sold any ETH recently. Since February, Sun has acquired 377,590 ETH, which was valued at $1.15 billion before the recent price collapse.

According to U.Today, Solana has made a remarkable recovery, crossing the $150 threshold once again. This surge marks a significant milestone for the cryptocurrency, reaching levels not seen since November 2021. The altcoin market is anticipated to continue its growth trajectory, potentially experiencing volatility in the near future based on recent price movements.

Solana has been steadily gaining ground on Ethereum, as evidenced by the recent spike in the SOL/ETH ratio. This indicates that Solana is outpacing Ethereum in terms of price growth, reflecting increased confidence in Solana's network and its ability to challenge Ethereum, the second-largest cryptocurrency by market capitalization. The price recovery of Solana is further highlighted by its effective reclaiming of the $150 mark, demonstrating significant buying interest and momentum. This price increase is accompanied by a surge in trading volume, suggesting active participation from traders.

Several factors contribute to Solana's recent success. Developers and users are attracted to Solana due to its low transaction costs and high throughput. The network's ability to process a high volume of transactions quickly and economically makes it a compelling alternative to Ethereum, which has faced challenges with scalability and high gas fees. Additionally, the growth of Solana's ecosystem, with more applications and projects being developed on its blockchain, enhances its utility and appeal, driving up the demand for SOL tokens.

Solana's price action suggests that growth and volatility may persist in the future. If the current momentum continues, SOL might aim for higher price targets and potentially test resistance levels around $160 and beyond.

According to U.Today, the prolonged legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. has reached a final ruling after nearly four years. The central question now is whether the SEC will appeal parts of the July 2023 decision. Ripple's Chief Technology Officer (CTO), David Schwartz, expressed uncertainty about the likelihood of an appeal, stating that there are valid arguments both for and against it.

The Ripple v. SEC case revolves around the classification of XRP, Ripple's digital asset, as a security. The SEC filed a lawsuit against Ripple in 2020, accusing the firm of selling XRP without registering it as a security. In July 2023, Judge Torres ruled that XRP traded on exchanges is not a security, a decision that the SEC might consider appealing. Ripple was ordered to pay $125 million in civil penalties, significantly less than the $2 billion initially imposed. The Judge acknowledged Ripple's repeated violations of securities laws but noted that the SEC failed to prove that Ripple caused losses for its investors.

Many members of the XRP community believe that the chances of the SEC filing an appeal are low, given the changing regulatory environment. If their predictions are correct, XRP would retain its legal clarity, potentially setting a precedent for other cryptocurrencies. Schwartz mentioned that both the SEC and Ripple would make crucial decisions in the next 60 days.

Following the final judgment, XRP has shown a positive market reaction. The cryptocurrency rose to $0.5 earlier this week and has since surged by 20% to $0.6171. Trading volume also saw a significant increase of 250%, reaching $5.3 billion, indicating renewed investor interest.

According to U.Today, a recent on-chain data analysis from IntoTheBlock highlights the current state of the Dogecoin network and the factors that could drive future growth. Notably, a significant amount of Dogecoin holders are in profit, which is noteworthy for the dog-themed crypto asset. With 68% of Dogecoin wallets still in profit, the dog coin is showing resilience and currently ranks 4th among assets with a market cap of over $1 billion. However, the Dogecoin network needs a catalyst to drive further growth.

Citing on-chain data, IntoTheBlock observed that the number of new Dogecoin addresses has been gradually decreasing, indicating a lack of new participants joining the network. Similarly, the number of transactions has been mixed over the past three months. While there were a few notable spikes, they were short-lived. Interestingly, the Dogecoin network is significantly more active in Western time zones, suggesting that the APAC region presents a potential growth opportunity. An important nuance to consider regarding the lower transaction volume is the loyalty of holders, with an average holding time of 2.3 years. This implies that participants may not be actively using the network, but they are certainly not selling. It is worth noting that 67% of all DOGE holders have had their assets for over a year.

Dogecoin's journey to $1 is filled with potential, but the road is far from being smooth. For the time being, the market remains optimistic, watching closely for the next big catalyst that could propel Dogecoin to new highs. In the very short term, Dogecoin price action might be worth paying attention to. At the time of writing, Dogecoin was up 1.12% in the last 24 hours to $0.10, a rally to $1 would imply a 900% increase from current levels. After 10 consecutive days of falls, Dogecoin began to recover from the $0.08 support, but bulls are battling to drive and sustain the price above $0.10. If bulls fail in their bid, Dogecoin faces the likelihood of a drop to $0.08. A drop below this key support might trigger further falls to $0.06. On the other hand, if the price increases above $0.10, it could indicate that selling pressure is easing. If this occurs, Dogecoin may rise to $0.12, which is expected to operate as a strong barrier, and possibly $0.14.

According to U.Today, the Shiba Inu ecosystem is set for a significant transformation with the upcoming launch of Shiba Eternity Web3. In a recent tweet, Shiba Inu team member Lucie announced the highly anticipated upgrade, marking a shift from Web2 to Web3 technology. This transition is expected to bring a host of new features and improvements to the game.

The move toward Shiba Eternity Web3 underscores the Shiba Inu team's commitment to staying at the forefront of technological innovation. While the Shiba Eternity Web3 world has not yet launched, the announcement has already generated excitement and anticipation among Shiba Inu holders and the broader crypto community. Lucie hinted at several new features that players can expect with the upgrade, including a welcome package designed to encourage Web2 players to migrate to the new platform.

The welcome package will be loaded with in-game rewards. Players can receive Kibble based on their collected Shiboshis. Returning players will also benefit from an XP booster, which doubles gains for 25 ranked matches, enhancing their ability to climb the leaderboard. Additionally, players can receive card packs based on their Web2 card count, excluding legendaries, with each pack containing five random cards ranging from normal to epic rarity.

Exclusivity remains a key feature for LEASH holders, as the closed beta will be a staked LEASH-only affair, although no minimum staked LEASH is required. LEASH holders not only get early access to the game but also stand a chance to receive a welcome gift. The Shiba Inu team's efforts to innovate and enhance the gaming experience reflect their ongoing commitment to the community and the broader goals of the Shiba Inu ecosystem.

According to U.Today, whale trading volumes for Shiba Inu (SHIB) surged significantly recently as the market experienced high volatility and uncertainty. Nearly 10 trillion SHIB were transacted during this turbulent period, with around 1 trillion SHIB moved in the last day alone. As the market stabilizes, transaction volumes are returning to more normal levels.

The sharp spike in whale activity suggests that large investors were responding forcefully to the turmoil in the global financial system, possibly rearranging their portfolios or selling assets to reduce risk. This abrupt increase in transactions highlighted Shiba Inu's speculative nature, as the cryptocurrency is often perceived as extremely volatile and driven more by market sentiment than intrinsic value.

As the market stabilizes, Shiba Inu transaction volumes have dropped dramatically, indicating that the spike in activity was not a long-term trend but rather an immediate response to the crash. The normalization of transaction volume could signify a consolidation phase, during which investors reevaluate their holdings and prices level off. Despite the return to normalcy, Shiba Inu's recent price actions continue to reflect underlying uncertainty and a lack of strong buying interest.

The market has only somewhat recovered, bouncing off the $0.000010 support level but failing to demonstrate a discernible upward trend. The 200 EMA ($0.000018), 100 EMA ($0.000015), and 50 EMA ($0.000015) remain significant obstacles that SHIB must clear to indicate a strong rebound. The decline in transaction volume also suggests a broader market trend where investors may be hesitant to make significant moves until more favorable conditions arise. In the near term, this cautious strategy might cause SHIB and other similar altcoins to see muted price movements.

According to U.Today, Bitcoin (BTC) is showing signs of recovery from its recent six-month low, with increased activity in institutional products. Analysts are optimistic about the cryptocurrency's future, and DeFi researcher Michael Nadeau has outlined several reasons for this bullish sentiment.

Nadeau points out that Bitcoin has just experienced its first major correction of this cycle, with a 33% drop. Other cryptocurrencies like Solana (SOL) and Ethereum (ETH) have also seen significant corrections. He notes that funding rates have reset, long-term holders are reactivating after taking profits in Q2 2024, and miner capitulation is losing traction. The pessimistic sentiment in the altcoin segment is seen as a necessary phase before the next rally.

On a macro level, weaker national fiat currencies are expected to drive interest in Bitcoin as a hedge against inflation and macroeconomic instability. The launch of Bitcoin and Ethereum spot ETFs has also attracted large institutional holders, who are selling to a new generation of investors, indicating strong interest in these assets.

Nadeau compares the current market setup to Q4 2020, when Bitcoin was in the $10,000-$15,000 range and saw significant gains. He highlights that major centralized finance (CeFi) players like BlockFi, Genesis, and Celsius, which contributed to overleverage in the last cycle, are no longer in the picture. This absence reduces the risk of similar issues occurring again.

In conclusion, Nadeau remains optimistic about Bitcoin and other cryptocurrencies in the long term, despite the current market fear. He believes the present situation is reminiscent of early Q4 2020, a period that preceded significant gains for Bitcoin.

According to U.Today, Justin Bons, founder and CIO at Cyber Capital, has voiced significant concerns regarding Ethereum's current approach to scaling. Bons argues that the emphasis on Layer 2 (L2) scaling solutions, such as Arbitrum, has resulted in fragmentation, negatively impacting user experience and dividing social capital. He believes that developers are now more focused on pursuing L2 grant programs rather than attracting users, which has shifted priorities and led to perverse incentives. Venture capitalists, developers, and influencers are more invested in their L2 solutions than in Ethereum itself, according to Bons.

Bons asserts that the real solution lies in scaling Ethereum at the base layer (L1). However, he notes that the leadership of the blockchain has been hesitant to adopt this approach. He suggests that moving towards L1 scaling could significantly affect the equity and token prices of sidechains, which rely on Ethereum not scaling at the base layer. Bons highlights that the current focus on L2 scaling has led to a fragmented ecosystem, deteriorating user experience, and misaligned incentives among stakeholders.

Despite Bons' criticisms, Ethereum co-creator Vitalik Buterin remains a strong advocate for Layer-2 solutions. Buterin acknowledges that without L2s, Ethereum's competitors might have captured a larger market share. However, he also believes that if scaling had occurred at the base layer to meet demand, the impact of these competitors would have been minimized. Buterin is optimistic about the future of L2 solutions, anticipating that cross-L2 interoperability challenges will soon be resolved, leading to a smoother user experience across the network. He continues to commend projects like Arbitrum and Optimism for their advancements and looks forward to further progress with the introduction of zk-EVM rollups.

According to U.Today, the first spot Solana exchange-traded fund (ETF) is set to launch in Brazil following approvals from the Brazilian Securities and Exchange Commission (CVM). This development has generated excitement within the crypto community, with expectations that it could significantly boost the value of Solana (SOL).QR Asset Management will offer the Solana ETF, with Vortx serving as the manager. QR Asset is a prominent asset manager in Brazil, managing assets worth over R$876 million (approximately $155 million) and catering to over 100,000 customers. The ETF is expected to begin trading once it receives approval from the Brazilian stock exchange B3. The fund's pricing will be driven by the CME CF Solana Dollar Reference Rate index, created by CF Benchmarks, which provides a credible valuation of Solana based on transaction data from leading crypto exchanges.The approval of the Solana ETF underscores Brazil's leadership in the crypto ETF market and its commitment to advancing crypto adoption through a clear regulatory framework. While Brazil moves forward with its Solana ETF, the United States faces regulatory hurdles that have delayed similar initiatives. Despite applications from asset managers VanEck and 21Shares, the launch of a spot Solana ETF in the U.S. remains uncertain. Additionally, BlackRock, a major U.S. asset manager, has shown no interest in launching a Solana-based ETF, which could impact the approval process due to BlackRock's significant influence in the financial and crypto sectors.

According to U.Today, Cardano (ADA) is approaching a significant milestone with its Node Version 9.1.0 upgrade, which is currently 69% complete. This upgrade is crucial for the upcoming Chang hard fork, a major update aimed at enhancing Cardano's on-chain decision-making capabilities. The successful implementation of Node 9.1.0 is essential for this hard fork to proceed. Once 70% of Cardano's validators, or Stake Pool Operators (SPOs), have updated to the new node, the Chang hard fork will be initiated. With 69% of the 3,110 stake pools now ready, the final date for the hard fork will be determined once the community meets the necessary readiness thresholds for both SPOs and exchanges.

At the same time, Cardano's native token, ADA, is experiencing increased market activity. Data from CoinGlass indicates a 30% rise in ADA perpetual futures trading volume over the past 24 hours, reaching a total turnover of $408.53 million. Additionally, CoinMarketCap reports a 5.54% increase in spot market trading volume for ADA, bringing it to $337.77 million. This surge in trading activity has pushed the total turnover for Cardano across all markets to approximately $1 billion. As the Chang hard fork approaches, interest in Cardano remains high in the market.

According to U.Today, Shibarium, the layer-2 solution, is preparing to launch a hard fork featuring a new version of Bor, the network's core component. This update will introduce a burn mechanism directly linked to base transaction fees. A significant portion of these fees, 70%, will be converted to SHIB tokens and removed from circulation, potentially decreasing the total supply of SHIB tokens and boosting their price. The remaining base fees will be allocated toward ecosystem development.

Shibarium completed its previous hard fork at block height 4504576 in May, which brought faster transactions and predictable gas fees, enhancing network accessibility and security. Since its launch last August, Shibarium has gained significant traction, with the total number of transactions surpassing 417 million and the total number of wallets exceeding 1.8 million.

However, Shibarium's activity has recently slowed down, recording only 3.84K transactions on Wednesday. Despite this, the SHIB token managed to stage an impressive comeback after a recent price crash, outperforming the broader meme coin sector. The upcoming burn mechanism could serve as a catalyst for the meme cryptocurrency, which has been relatively stagnant since reaching its peak in October 2021.

According to PANews, the Chicago Board Options Exchange (CBOE) has resubmitted its application for Bitcoin ETF options, potentially aiming to secure final approval. The new application is a comprehensive 44-page document, replacing the previous 15-page version, and includes extensive details on position limits and market manipulation safeguards. Earlier today, Bloomberg analysts indicated that Bitcoin ETF options might be launched in the fourth quarter of this year.

According to BlockBeats, on August 9, the Liaoshen Evening News reported that police in Shenyang and Changchun collaborated to apprehend a suspect in a telecom fraud case within seven hours. The suspect, identified as Yu, had defrauded Ms. Lü of 500,000 yuan in cash. The entire amount has since been returned to Ms. Lü.

In early July, Ms. Lü (a pseudonym) met a man online who quickly gained her trust. They soon entered into a romantic relationship. The man, claiming to be involved in virtual currency investments, repeatedly persuaded Ms. Lü to invest. Initially, she was hesitant until he showed her screenshots of high returns. On the evening of July 22, at around 6 PM, Ms. Lü withdrew 500,000 yuan from the bank and handed it over to an 'investment manager' introduced by her 'boyfriend.' Shortly after, both the 'virtual currency' and her 'boyfriend' disappeared, prompting her to report the incident to the police.

The Dannan Police Station of the Shenhe Public Security Bureau in Shenyang quickly identified the 'investment manager' as Wang. At around 10 PM that same evening, officers apprehended Wang near Shenyang North Station, finding only 20,000 yuan in his possession. It was revealed that Wang was an accomplice hired by Yu. After the scam, Yu gave Wang 20,000 yuan as a reward and fled to Changchun with the remaining 480,000 yuan. The police promptly contacted their counterparts in Changchun to initiate a manhunt for Yu.

Changchun police set up a perimeter and arrested Yu at around 1 AM the next day while he was counting the stolen money at home. They recovered the 480,000 yuan on the spot. Currently, both Yu and Wang are in criminal detention on suspicion of fraud. The 500,000 yuan defrauded from Ms. Lü has been fully recovered and returned to her.

According to Odaily, the official website information reveals that in the political category of the prediction market PolyMarket, activities related to the 2024 U.S. election dominate the platform's leaderboard. The U.S. presidential election betting activity ranks first with $559 million in wagered funds.

Macro/TradFiThe past week saw crypto and stock markets face significant downturns. The crypto market endured its largest three-day sell-off in a year, plummeting by over 20%, with Bitcoin hitting its lowest level since February. In Japan, the Nikkei 225 Index experienced its steepest single-day decline since 1987, dropping by 12.4%. Markets have since started to rebound.With sharp declines in equity markets and weak employment data, expectations are growing for the U.S. Federal Reserve to implement multiple rate cuts throughout the year, including a potential 50 basis point reduction in September.Capula Management, the fourth-largest hedge fund in Europe, has invested nearly US$500M in Bitcoin ETFs, as revealed in public disclosures filed on August 5.Responding to popular demand, Morgan Stanley has started permitting its wealth advisors to offer Bitcoin ETFs to select wealthy clients.Grayscale has introduced two new crypto investment products focused on Bittensor’s native token, TAO, and Sui protocol’s SUI token.According to filings, BlackRock and Nasdaq have submitted a proposal to introduce options for the iShares Ethereum Trust (“ETHA”), the only spot ETH ETF on the Nasdaq exchange.CryptoL1/L2:Since the launch of spot Ethereum ETFs in the U.S., the daily number of new Ethereum wallet addresses has trended downward, now below 80K. Data from The Block indicates that the seven-day moving average of new Ethereum wallets has dropped to its lowest since December 2023.The percentage of the ETH supply staked has hit a record high of 27.95%, primarily driven by restaking and liquid restaking protocols.Zircuit, a zero-knowledge rollup with AI-enabled security, has officially launched the first phase of its mainnet along with the ZRC token claim process.DeFi:Ethena has expanded the reach of its synthetic dollar, USDe, by launching it on the Solana network. USDe is now integrated with several Solana-based dApps, including Kamino, Orca, Drift, and Jito. Additionally, pending a governance vote next week, borrowers will be able to use Solana as collateral for USDe loans.Franklin Templeton has launched its OnChain U.S. Government Money Fund (“FOBXX”) on the Arbitrum network.Others:Curio, a Web3 game development company, raised US$5.7M in seed funding, with Bain Capital Crypto and SevenX Ventures leading the round.Andrena has secured US$18M in a funding round led by Dragonfly. The funds will be used to build a decentralized autonomous wireless network (“DAWN”) on Solana.Latest Binance Research Publications Check out our latest publications:Reality Check: The Importance of Providing Real ValueMonthly Market Insights - August 2024The Market Downturn: What Happened and What to Expect?Explore our Binance Research website for more project and macro research.That’s a wrap!Binance ResearchAbout Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. 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