Binance is set to invest $200 million to fill compliance roles

Hot projects + Market overview

I. Mainstream exchange news

• Binance CEO Richard Teng has announced plans to invest $200 million this year to hire 1,000 employees, primarily for compliance roles.
• Coinbase has added the Polygon Ecosystem (POL) token to its listing roadmap.
• Binance will launch new spot trading pairs including AAVE/FDUSD and DOGE/JPY.

II. Mainstream projects and trending events

• DeFi lending protocol Aave will support the METIS token as collateral on the Metis network.
• VitaDAO has launched a new protocol called 'BIO' in collaboration with DAOs, aiming to raise funds for scientific research.
• The DeFi protocol Aave V3 has announced the launch of Aave V3 on the Era mainnet, supported by ZKsync.
• The total nonfarm employment was lower by 818,000 than originally reported by the US Bureau of Labor Statistics for March.
• Ethereum Name Service (ENS) developer ENS Labs is partnering with digital identity provider Dentity to integrate verifiable credentials on the blockchain.
• BlackRock's ETHA is the first Ethereum ETF to exceed $1 billion in net inflows.
• The Tron-based meme token generator SunPump has generated over $1.1 million in revenue within 11 days of its launch, with total platform revenue amounting to approximately 7.08 million TRX.
• The bankruptcy restructuring hearing for Terraform Labs, a startup that created Terra, is scheduled for September 19.
• Sonic Labs launched a new bounty program called "Sonic Boom."

III. Funding news

• On-chain private credit fund Credbull has raised $5.2 million in a funding round led by Gnosis VC.
• BSX, a derivatives trading platform on the Base ecosystem, has raised $6.2 million in funding ahead of its token launch.
• PIP Labs who developed Layer1 IP blockchain Story Protocol has raised $80 million in a Series B round led by a16z.
• Skyfire, an AI-crypto payment network developed by former Ripple employees, has completed an $8.5 million seed round, pitched in by Ripple and Circle.
• Nexus Interactive has raised $2 million in a seed round participated in by Jump Crypto.

IV. Regulatory news

• El Salvador will offer Bitcoin training to 80,000 public servants.

V. Popular projects 

Market overview

BTC hit a peak of $61,820 before pulling back. If BTC holds above $60,044, the next target could be $64,000. Failing to maintain this level may lead to further consolidation.

According to TradingView, the Total Crypto Market Cap, excluding the top 10 dominant cryptocurrencies, has surged by 9.58% over the last day, marking five days of consecutive increases. This could signal the potential for a broader rally across the altcoin sector.

SCF is up 66% in a day

The price of Smoking Chicken Fish (SCF), a memecoin known for its visually striking and absurd combination, has surged 66% in the last 24 hours.

The project became famous for its "10 Most Important Things in Investing" on its website.

Since its launch on July 21, the SCF token has increased 154 times in value, reaching a market cap of $36.11 million. It has on-chain liquidity of $1.4 million, with a 24-hour trading volume of $5 million.

Polkadot ecosystem: Gains in key projects

Key projects within the Polkadot ecosystem, such as GLMR, MOVR, and KSM, have shown continued growth, partly contributing to a modest rebound in DOT.

The market has recently been targeting previously oversold projects with strong speculative potential, and many within the Polkadot ecosystem fit this profile. 

NFT ecosystem: Potential for a rebound

Fueled by the surge in the RARE token, NFT projects such as RARI and RLY are showing signs of recovery.

In the recent sluggish NFT market, sustained growth in RARE could spark renewed interest and potentially lead to a broader sector-wide rebound in NFT prices.

On-chain daily

1. GOU: GOU is a memecoin on the Ethereum chain, pronounced similarly to the Chinese word for "dog." It claims to be the son of Neiro and the nephew of Doge.

Current Price: $0.0026

Historical High:$0.00463

24-Hour Change: +84%

Current Market Value: $2.6M

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

2. EBULL: EBULL is a memecoin on the Ethereum chain featuring a mocking bullish post about Ethereum that its founder, Vitalik, posted on X on Aug 22.

Current Price: $0.0021

Historical High:$0.00255

6-Hour Change: +25%

Current Market Value: $21M

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

3. SOYBOYS: SOYBOYS is a memecoin on the Solana chain featuring the blame of fraudulent developers and kols.

Current Price: $0.00341

Historical High:$0.00647

6-Hour Change: +20%

Current Market Value: $3.4M

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

4. POODL: POODL is a memecoin on the Solana chain featuring a poodle, claiming to be  'the Hermès of crypto.

Current Price: $0.0365

Historical High:$0.0605

24-Hour Change: +43%

Current Market Value: $2.3M

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

5. binancedog: binancedog is a memecoin on the BSC chain which was Issued by the meme launch platform Four.meme, featuring Binance's dog.

Current Price: $0.00884

Historical High:$0.0099

6-Hour Change: +148%

Current Market Value: $8.8M

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

6. coby: coby is a memecoin on the Solana chain featuring a cute doll, representing 'your best friend.

Current Price: $0.0045

Historical High:$0.00541

24-Hour Change: +28%

Current Market Value: $4.5M

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

Daily runes observation

Gas Fee Change:

The current BTC transaction fee remains low at 3 satoshis/byte. Regardless of the cryptocurrency's price, transaction fees have remained persistently low for a month and a half.

Today's Popular Projects:

1. THE•CEILING•CAT

   - Fully minted

   - Market Value: $14,74K

   - 24-Hour Trading Volume: $1,739

   - 24-Hour Change: +16.27%

   - Holding Addresses:349

2.ALETHEIAS•AGORA

   - Fully minted

   - Market Value: $1.31M

   - 24-Hour Trading Volume: $6,898

   - 24-Hour Change: +8.38 %

   - Holding Addresses:633

3.BLOCKS•OF•BITCOIN

   - Fully minted

   - Market Value: $108.05K

   - 24-Hour Trading Volume: $4,850

   - 24-Hour Change: +4.58 %

   - Holding Addresses:935

Top Rune Projects Tracking:

- DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

  - Current Price: 4.85 Sats

  - 24-Hour Change: -1.82 %

  - Current Market Value: 4,849 BTC

- BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

  - Current Price: 4 Sats

  - 24-Hour Change: -13.04 %

  - Current Market Value: 840 BTC

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

  - Current Price: 6.45 Sats

  - 24-Hour Change: -8.77%

  - Current Market Value: 1,352 BTC

Performances of today's top three tracks

Layer 2: An overall daily increase of 6.7%

1. Matic: Polygon is a decentralized Ethereum scaling solution that allows developers to build scalable, user-friendly DApps with lower transaction fees without compromising security. On August 21 it saw a significant price increase after Coinbase announced plans to list the Polygon Ecosystem Token (POL). The upgrade is scheduled for September 4th, and upon community approval its native token will be converted from MATIC to POL.

   - Daily Increase: +16%

   - Current Price: $0.53

   - Current Market Value: $4.9B

   - 24-Hour Trading Volume: $630M

2. POL: Polygon is a decentralized Ethereum scaling solution that allows developers to build scalable, user-friendly DApps with lower transaction fees without compromising security. The token saw a significant price increase after Coinbase announced plans to list the Polygon Ecosystem Token (POL). The upgrade is scheduled for September 4th, and upon community approval its native token will be converted from MATIC to POL.

   - Daily Increase: +14%

   - Current Price: $0.053

   - Current Market Value: $130M

   - 24-Hour Trading Volume: $1.1M

3. STX: Stacks is a Bitcoin Layer 2 that brings smart contract functionality to Bitcoin without requiring any modifications to Bitcoin itself.

  - Daily Increase: +7.7%

   - Current Price: $1.58

   - Current Market Value: $2.3B

   - 24-Hour Trading Volume: $92M

DeFi: An overall daily increase of 4.6%

1. BOND: BarnBridge is a risk tokenizing protocol for DeFi. Its first application, SMART Yield, offers fixed and leveraged variable yields for stablecoins deposited in underlying lending markets like Aave, Compound, and C.R.E.A.M.

   - Daily Increase: +44%

   - Current Price: $2.15

   - Current Market Value: $20.8M

   - 24-Hour Trading Volume: $2M

2. QUICK: QuickSwap is a permissionless decentralized exchange powered by Polygon's Layer 2 scalability infrastructure.

- Daily Increase: +28%

- Current Price: $0.038

- Current Market Value: $28M

- 24-Hour Trading Volume: $28M

3. PRISMA: Prisma is a new DeFi primitive focused on unlocking the full potential of Ethereum liquid staking tokens (LSTs). It allows users to mint a stablecoin (mkUSD) fully collateralized by liquid staking tokens. 

- Daily Increase: +23%

- Current Price: $0.0338

- Current Market Value: $1.72M

- 24-Hour Trading Volume: $2.92M

AI: An overall daily increase of 3.4%

1. NMR: Numerai is a platform on the Ethereum chain that allows developers and data scientists to experiment with and create more reliable machine-learning models. The primary goal of this platform is to bring decentralization into the field of data science and enable developers to compete in creating effective machine learning prediction models.

   - Daily Increase: +17%

   - Current Price: $17.8

   - Current Market Value: $130M

   - 24-Hour Trading Volume: $75M

2. FET: FET is a blockchain platform based on artificial intelligence and machine learning that enables anyone to share and exchange data.

   - Daily Increase: +9.7%

   - Current Price: $0.96

   - Current Market Value: $2.43B

   - 24-Hour Trading Volume: $221M

3. AGIX: SingularityNET is a decentralized artificial intelligence platform and marketplace. Agents operating on the SingularityNET platform can flexibly outsource tasks to one another.

   - Daily Increase: +7%

   - Current Price: $0.61

   - Current Market Value: $790M

   - 24-Hour Trading Volume: $976K

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. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available at the time of writing and may be subject to change.

Please note that this article includes references to third-party websites and data, which are provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.