US SEC’s"exchange" definition harms crypto - Coinbase

Hot projects + Market overview

I. Mainstream exchange news

• Coinbase will list the Gravity (G) token.
• Coinbase has urged the US SEC to withdraw and revise its proposal to expand the definition of "exchange," arguing it could negatively impact the crypto industry.
• Upbit will suspend USDT trading on August 19 due to server maintenance.
• OKX has opened the Martingale contract season with a total prize pool of 53,400 USDT.
• Binance will remove trading for pairs CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/USDT, REEF/USDT and VGX/USDT.
• Binance has completed the Sei (SEI) EVM integration.

II. Mainstream projects and trending events

• ​​The US SEC has charged NovaTech and its executives with orchestrating a $650 million cryptocurrency fraud.
• EigenDA, a decentralized data availability protocol, has introduced a foundational reward program, rewarding stakers and operators with ETH every month.
• Modular data access layer Lava Network has rolled out its restaking functionality on the mainnet.
• The Lido community has voted to integrate stETH (staked ETH) into the BNB Chain.
• BNB Chain has launched its Fourth Anniversary Ecosystem Catalyst Awards.
• Symbiotic, a restaking protocol, has introduced its development network with plans to fully launch its mainnet in the third quarter.
• The cat-themed mini-game, Catizen, has secured the top spot in the TON ecosystem for the fourth consecutive quarter.
• The Telegram mini-game Catizen has topped the TON ecosystem app leaderboard for the fourth consecutive Ton Open League Season, with over 24 million on-chain interactions during Season 5.
• The US Bitcoin spot ETFs have seen a net outflow of $169 million last week, while Grayscale’s GBTC has experienced an even larger outflow of $392 million.
• The organization "Crypto4Harris," composed of US Democratic cryptocurrency supporters, will hold an online town hall meeting on August 15
• Uniswap Labs has reported $30.3 million in revenue for the second quarter of 2024.
• Ethereum Layer 2 project Morph is set to launch its mainnet and staking features in the third quarter of 2024. 

III. Funding news

• Ion Protocol, a lending platform for staked and restaked assets, has raised $4.8 million in a recent funding round, participated in by NGC.
• Decentralized proprietary investment platform BasedVC has raised $2 million in a seed funding round with participation from angel investors like Mario Nawfal and Crypto Banter.

IV. Regulatory news

• The US SEC has sent inquiry letters to venture capital firms including a16z and USV regarding their involvement with Uniswap.
• Former Bank of Japan Official Makoto Sakurai said the central bank would defer additional interest rate hikes to next year.

V. Popular projects 

BTC moves

BTC is experiencing high volatility, with sharp price swings. 

If Bitcoin remains above $55,000, the rebound will likely continue, targeting $64,625.

Market overview

The competition among on-chain memecoins and Binance's delisting of low-performing altcoins could lead to a shift of funds towards centralized exchanges (CEXs).

This shift could lead to a performance boost for recently listed venture capital (VC) tokens.

Additionally, the ETH/BTC ratio has increased by 10% from its low point, suggesting an overall improvement in altcoin market dynamics.

CANTO is up 110% in a day

The price of CANTO, the token of Canto, an EVM-compatible Layer 1 blockchain, has surged 110% in the last 24 hours, following its Callisto upgrade.

On August 12, Canto faced a network interruption after the Callisto upgrade due to unforeseen secondary effects linked to proposer priority issues. The team is now working on a state upgrade compatible with v8.1.0.

Despite the outage, CANTO gained significant attention, with some users even labeling it as a meme token. This led to a rapid increase of over 100% in a single day.

CRTS is up 60% in a day

Cratos (CRTS), a Vote-to-Earn (V2E) token for the real-time voting platform CRATOS, has surged 60% in the past 24 hours.

With 60% of the total CRTS supply in circulation, users can earn CRTS by participating in votes through the CRATOS app, available on both iOS and Android.

The CRTS token's trading volume has approached $11 million in the last 24 hours.

SAGA is up 28% in a day

The price of SAGA, the token of Saga, a Cosmos-based layer 1 blockchain, has surged 28% in the last 24 hours.

Saga focuses on the gaming and entertainment sectors, enabling developers to launch parallel, interoperable dedicated chains.

On August 13, Saga introduced its Liquidity Integration Layer (LIL), a solution designed to tackle liquidity fragmentation in the blockchain industry.

With a relatively moderate market cap of $159 million, the SAGA token has reached a trading volume of $119 million in the last 24 hours.

SATS is up 22% in a day

SATS, a BRC-20 token that pays homage to Satoshi, has seen a 22% increase in the past 24 hours.

Among the recent rebound of inscription projects, SATS has seen the largest increase, surpassing ORDI to claim the highest market capitalization.

As the ETH/BTC ratio has risen 10% from its low, it could boost wealth effects in various sectors, such as BRC-20, making tokens like SATS noteworthy.

On-chain daily

1 BAR: BAR is a memecoin on the Ethereum chain, with the full name “Gold Standard”, featuring a gold emblem engraved with the Ethereum logo and name. It uses a deflationary bonding curve, with a total supply of 999,999, a reserve supply of 77,700 (7.77%), and a circulating supply of 922,299. The details of the deflationary bonding curve have not yet been disclosed.

Current Price: $8.5

Historical High:$8.5

24-Hour Change: +119%  

Current Market Value: $7.8M

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

2. NEIRO: NEIRO is a memecoin on the Ethereum chain featuring the new dog of the Doge dog’s owner. Since first reported on WOO X research's on-chain daily, NEIRO’s price has been raised 16% with a stable trend and its market cap is around $200 million.

Current Price: $0.022

Historical High:$0.3

24-Hour Change: +11%

Current Market Value: $222M

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

3. yawn: yawn is a memecoin on the Ethereum chain inspired by the Pepe comic “Boys Club”.

Current Price: $0.00261

Historical High:$ 0.00341

24-Hour Change: +28%

Current Market Value: $20.9M

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

4. GROK2: GROK2 is a memecoin on the Solana chain featuring the AI Grok created by Musk. The hype is due to Musk posting an image of Grok on X and announcing that the Grok 2 Beta version is coming soon.

Current Price: $0.00177

Historical High:$ 0.00453

24-Hour Change: +67%

Current Market Value: $1.6M

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

5. KOLT: KOLT is a memecoin on the Solana chain claiming to feature the coolest cat on the Solona chain, whose appearance is inspired by Brett's style from Boy’s Club.

Current Price: $0.00397

Historical High:$ 0.00641

24-Hour Change: + 49%

Current Market Value: $ 3.9M

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

6. BTW: BTW is a memecoin on the Solana chain inspired by Italian artist Maurizio Cattelan's work "Comedian," featuring a banana taped to a wall. It is expected that the project will later be taken over by the community.

Current Price: $0.0125

Historical High:$ 0.0193

24-Hour Change: + 1.5%

Current Market Value: $ 12.5M

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

Daily runes observation

Gas fee change:

The current BTC transaction fee remains low at 4 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. DONALD•TRUMPS

   - Fully minted

   - Market Value: $286K

   - 24-Hour Trading Volume: $80,484

   - 24-Hour Change: +168%

   - Holding Addresses:1491

2. ALETHEIAS•AGORA

- Fully minted

- Market Value: $1.3M

- 24-Hour Trading Volume: $4768

- 24-Hour Change: +35%

- Holding Addresses:646

3. COOK•THE•MEMPOOL

- Fully minted

- Market Value: $1.48M

- 24-Hour Trading Volume: $9748 

- 24-Hour Change: +33%

- Holding Addresses:28582

Top Rune projects:

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

  - Current Price: 4.8 Sats

  - 24-Hour Change: +0.5%

  - Current Market Value: 4,820 BTC

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

  - Current Price: 4.8 Sats

  - 24-Hour Change: + 9.4%

  - Current Market Value: 1010 BTC

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

  - Current Price: 4.02  Sats

  - 24-Hour Change: +1.1%

  - Current Market Value: 844 BTC

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