BTC mining profits fell by 11.8% in August

Hot projects + Market overview

I. Mainstream exchange news

• Binance US has chosen crypto custody firm Fireblocks to enhance its cryptocurrency custody and staking services.
• BNB Chain will launch a re-staking service for BNB tokens.
• BNB Chain has announced "Simon's Cat" (CAT) as the winner for the second phase of its "Meme Heroes" program, committing $900,000 in liquidity pool support.
• BNB Chain has added the mini-app Blum, a trading mini App on Telegram invested by Binance Labs, to the seventh season of its Most Valuable Builder (MVB) program.
• Bitget has launched pre-trading for the WATCoin token WAT.

II. Mainstream projects and trending events

• Although Bitcoin has rebounded to over $58,000, the market sentiment remains cautious with the Cryptocurrency Fear and Greed Index indicating a state of "Fear" at 37 as of September 11.
• Eigenlayer has introduced the first Bitcoin LRT asset, uniBTC. Holders of uniBTC will be eligible to receive Babylon points, Bedrock diamonds, and Eigenlayer incentives.
• The Artificial Superintelligence Alliance (ASI), formed by the merger of FET, AGIX, and OCEAN, has proposed to add the distributed AI computing project Cudos to its collective, subject to community voting. If approved, Cudos tokens will merge with ASI’s cryptocurrency, FET.
• Matter Labs, the developer behind ZKsync, has appointed Meghan Hughes, the former Vice President of Marketing at the Solana Foundation, as its new Chief Marketing Officer.
• According to investment bank Jefferies, Bitcoin mining profits in August were significantly lower than in July, with miners’ average daily income down by 11.8%.
• On September 11, at block height 860,832, Bitcoin mining difficulty increased by 3.58% to a new high of 92.67 T, according to BTC.com data.
• Velo Labs incorporates BlackRock’s tokenized US Treasury fund BUIDL into USDV.
• The Aave Chan Initiative (ACI) has submitted a proposal on Aave’s governance forum to introduce cbBTC, an upcoming Bitcoin-wrapped product by Coinbase, to Aave v3 on Base and Ethereum.
• After the first presidential debate, Kamala Harris's odds of winning have increased to 50%, while Donald Trump's are at 49%.
• Grayscale has opened its Sui Trust to qualified investors interested in investing in SUI.

III. Funding news

• ​​Digital asset trading platform SDAX has completed a $50 million Series B2 funding round led by MPMR.
• Flight tracking protocol Wingbits has secured $3.5 million in seed funding led by Borderless Capital.
• According to Bloomberg, sources say OpenAI is negotiating with investors to raise $6.5 billion at a valuation of $150 billion.
• CUDIS, a health ring project based on Solana, has completed a $5 million funding round led by Draper Associates.
• Blockchain interoperability protocol  Hyperbridge has secured $2.5 million in seed funding led by Web3 Foundation and Scytale.
• RWA platform Huma has raised $38 million in a founding round led by Distributed Global and Stellar Development Foundation, with plans to expand to Solana and Stellar networks. 

IV. Regulatory news

• A spokesperson for the European Banking Authority has indicated that regulations on stablecoins like Tether and Circle within the EU are likely to be established by the end of the year.
• The UAE's Securities and Commodities Authority (SCA) and Dubai's Virtual Asset Regulatory Authority (VARA) have agreed for joint regulation of virtual asset service providers (VASPs) within the country.
• The US House Financial Services Committee discussed the role of tokenization and blockchain in finance. The session highlighted deep divisions between parties: Republicans, led by French Hill, argued that decentralized finance (DeFi) could revolutionize financial structures, whereas Democrats, including Brad Sherman, criticized DeFi as a tool for criminal activities, including tax evasion.

V. Popular projects 

​​Market overview

Bitcoin is approaching the 4-hour Moving Average (MA) at $58,934. Staying above this level could indicate a transition from a temporary rebound to a more sustained upward trend.

For a stronger bullish signal, Bitcoin needs to break above $62,868.

Bitcoin's price is currently moving in tandem with US stocks. With the anticipated interest rate cut and the upcoming US election, the market could see stronger volatility.

BLUB is up 65% in a day 

The price of BLUB, a memecoin built on the Sui ecosystem featuring a fish, has surged 65% in the last 24 hours.

With a total supply of 420.69 trillion tokens, 75% is allocated on CEX and DEX, 10% for growth, and 15% for contributors (with a 3-year linear release). 

BLUB has reached a market cap of $18.85 million, rising over 50-fold from its low point.

WELL is up 20% in a day

Moonwell, a collateral lending protocol on the Moonbeam parachain, has seen its token WELL surge 20% in the last 24 hours.

Moonwell has reached a TVL of $73.45 million, generating $151,000 in fees over the past seven days, especially popular are its ETH and LST type products. 

The market cap of the WELL token is $68 million.

LOKA is up 20% in a day 

League of Kingdoms, a blockchain MMO strategy game, has seen its token LOKA surge 20% in the last 24 hours.

This rise in LOKA's value, which has boosted its market cap to $29.16 million, may be attributed to the anticipation of its futures contracts being listed on Binance.

TKO is up 18% in a day 

Tokocrypto, an Indonesian digital asset trading platform, has seen its token TKO rise by 18% in the last 24 hours, following a security breach at Indodax, another Indonesian cryptocurrency exchange.

TKO has reached a market cap of $28.65 million.

On-chain daily

1. INNIT: INNIT is a memecoin on the Ethereum chain, born from "4 teh tek," and featuring an intelligent man.

Current Price: $0.0007216

Historical High: $0.0007398

6-Hour Increase: 46%

Current Market Value: $2.9M

Official Twitter: https://x.com/Brainz4tehtek

2. LUCI: LUCI is a memecoin on the Solana chain, now owned by the community, featuring a red devil.

Current Price: $0.004831

Historical High: $0.006811

24-Hour Increase: 301%

Current Market Value: $1.8M

Official Twitter: https://x.com/lucithecoin

3. DWAGON: DWAGON is a memecoin on the Solana chain, featuring a purple dragon.

Current Price: $0.0008780

Historical High: $0.0009017

24-Hour Increase: 149%

Current Market Value: $1.4M

Official Twitter: https://x.com/dwagoncto

4. KOKO: KOKO is a memecoin on the Solana chain that combines AI and community, resembling Pepe the Frog.

Current Price: $0.054229

Historical High: $0.054247

24-Hour Increase: 17.87%

Current Market Value: $1.4M

Official Twitter: https://x.com/KOALAAIVIP

5. ASTEROID: ASTEROID is a memecoin on the Ethereum chain, named Asteroid Shiba, based on Elon Musk's latest space project, featuring a Shiba Inu astronaut doll.

Current Price: $0.054423

Historical High: $0.055089

24-Hour Increase: 14.51%

Current Market Value: $2M

Official Twitter: https://x.com/AShiba_eth/

6. CAT: CAT is a memecoin on the Binance chain. It's part of the Dogeverse, known as Simons Cat.

Current Price: $0.00002820

Historical High: $0.00002825

24-Hour Increase: 435%

Current Market Value: $190M

Daily runes observation

Gas Fee Change:

Current BTC transaction fee: 5 satoshis/byte

Despite market conditions, fees have remained persistently low for three months. 

However, with the recent launch of the Fractal Bitcoin Mainnet, transaction fees on Fractal have surged above 1,500 satoshis/byte due to the new Covenant Attested Token (CAT) Protocol.  FB token surged by 80% in one day, currently priced at $32.8, nearing its all-time high.

CAT Protocol launch features characteristics like no need for indexers, modularity, programmable minting, and cross-chain interoperability. It can operate on any Bitcoin-compatible blockchain that activates OP_CAT.

Today's Popular Projects:

FRACTAL•RUNE•FB

Status: Fully minted

Market Value: $364K

24-Hour Trading Volume: $112,957

Increase: 1937%

Holding Addresses: 405

SATOSHI•TOKEN

Status: Fully minted

Market Value: $347K

24-Hour Trading Volume: $171,355

Increase: 1424%

Holding Addresses: 838

WUKONG•MYTHS

Status: Fully minted

Market Value: $578K

24-Hour Trading Volume: $155,951

Increase: 69%

Holding Addresses: 382

Top Rune Projects Tracking:

DOG•GO•TO•THE•MOON: Rune #3, an airdropped rune from Runestone

Current Price: 4.54 Sats

24-Hour Change: -2.4%

Current Market Value: 4548 BTC

RSIC•GENESIS•RUNE: Rune #8, from the RSIC inscription mining project

Current Price: 5 Sats

24-Hour Change: -6.45%

Current Market Value: 1048 BTC

BANK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1

Current Price: 2.75 Sats

24-Hour Change: -5.1%

Current Market Value: 577 BTC

Performances of today's top three tracks

CeFi: Overall sector daily increase of 2.44%

1. TKO: Tokocrypto, an Indonesian crypto exchange, has been acquired by Binance, and its IPO plans have been put on hold.

Daily Increase: 18.8%

Current Price: $0.3838

Market Value: $28.79M

24-Hour Trading Volume: $48.99M

Recent Update: Tokocrypto has received a PFAK (Crypto Asset Physical Trader) license in Indonesia.

2. BNB: BNB is the highest market-cap token among centralized exchange tokens, created by Binance as its platform token.

Daily Increase: 10%

Current Price: $538.3

Market Value: $78.53B

24-Hour Trading Volume: $990.86M

Recent Update: Binance is hosting a simulated spot trading competition with a prize pool of 10,000 FDUSD.

3. LEO: LEO is a token issued by Bitfinex exchange and serves as the native token of the platform.

Daily Increase: 0.76%

Current Price: $5.537

Market Value: $5.12B

24-Hour Trading Volume: $1.27M

Recent Update: None.

Layer1: Overall sector daily increase of 1.13%

1. DIONE: DOINE is the native token of Dione Protocol, focusing on bridging real-world problems with the DeFi space through a renewable energy-powered system.

Daily Increase: 10.30%

Current Price: $0.00795

Market Value: $74.94M

24-Hour Trading Volume: $517.41K

Recent Update: Dione, in partnership with Sfxdx, is nearing completion of an EVM-compatible L1 blockchain powered by renewable energy, rated 9.5/10 by Hacken, with a private mainnet launch on September 30, 2024.

2. ADA: Cardano (ADA) improves on Bitcoin and Ethereum's architecture and consensus mechanisms.

Daily Increase: 3.65%

Current Price: $0.3553

Market Value: $12.67B

24-Hour Trading Volume: $330.37M

Recent Update: The 2024 Cardano Summit will be held in Dubai from October 23 to October 24.

3. INJ: Injective Protocol is a layer-1 decentralized trading protocol supporting CFDs, perpetual swaps, and other derivative markets with no gas fees.

Daily Increase: 3.85%

Current Price: $18.86

Market Value: $1.86B

24-Hour Trading Volume: $143.12M

Recent Update: INJ tokens were recently burned as part of the protocol's income auction and burning process.

RWA: Overall sector daily increase of 0.49%

1. CPOOL: Clearpool is a decentralized capital markets ecosystem where institutional borrowers can access unsecured loans directly from the DeFi ecosystem.

Daily Increase: 8.99%

Current Price: $0.12447

Market Value: $75.23M

24-Hour Trading Volume: $1.41M

Recent Update: On September 10, Clearpool announced a strategic partnership with VelodromeFi to enhance RWA liquidity, supporting Ozean Blockchain's growth.

2. PROPC: Propchain combines blockchain technology with real-world assets (RWA) and PropTech.

Daily Increase: 3.18%

Current Price: $0.9723

Market Value: $18.02M

24-Hour Trading Volume: $588.7K

Recent Update: Propchain integrated with OKX Web3 Wallet, and $PROPC is now listed on OKX.

3. OM: MANTRA (OM) is an RWA Layer-1 blockchain designed for institutions and developers, built using the Cosmos SDK and compatible with IBC and CosmWasm.

Daily Increase: 3.44%

Current Price: $1.0827

Market Value: $912.89M

24-Hour Trading Volume: $35.22M

Recent Update: The project promoted staking rewards program.

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

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