Golden Morning Post | The total supply of stablecoins has a net decrease of more than 10 billion U.S. dollars during the year

Headline

▌ Data: The total supply of stablecoins has a net decrease of more than 100 billion U.S. dollars during the year

Jinse Finance reported that according to the data disclosed by the blockchain analysis company Glassnode, the capital inflows of the two mainstream cryptocurrencies, Bitcoin and ETH, were US$21.9 billion and US$18 billion this year, but the total supply of stablecoins saw a net decrease of US$10.4 billion.

▌The circulation of USDC decreased by 5 billion US dollars in the past week

Jinse Finance reported that according to official data, as of July 23, Circle had issued a total of USD 1.4 billion in USDC and redeemed USD 1.9 billion USDC in the past 7 days, and the circulation decreased by about USD 500 million. The total circulation of USDC is 26.9 billion US dollars, and the reserve is 27.1 billion US dollars, including 2.2 billion US dollars in cash and 24.9 billion US dollars in the overnight US bond repurchase agreement. In addition, the USDC 24-hour on-chain transaction volume reached 4 billion US dollars.

▌Steve Aoki**** bought NFT for 1.6 million million dollars, and the current total book value is only 3.3 million dollars

Jinse Finance reported that according to the statistics of encrypted KOL Herbie, the multiple NFTs purchased by the well-known DJ Steve Aoki have greatly depreciated. The total cost before was about 1.6 million US dollars, and the current book value has dropped to 33,000 US dollars, including Doodles, 0N1, Cool Cats, Moonbirds and other series. The biggest loss was that he bought Doodle #2238 for US$862,000. The highest bid for this NFT is now US$12,000, with a book loss of US$850,000.

▌**USDT**** market value has reached a record high, currently accounting for **65.9% of the stablecoin industry

Jinse Finance reported that data shows that although USDC has fallen to a two-year low, the market value of USDT has reached a record high and currently accounts for 65.9% of the stablecoin industry. As of now, the market value of USDC is 26.852 billion US dollars, and the market value of USDT is 83.795 billion US dollars.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is 29808.7 US dollars, with an intraday change of -0.40%;

The latest transaction price of ETH is 1884.95 US dollars, with an intraday change of -0.43%;

The latest transaction price of BNB is 241.8 US dollars, with an intraday change of -0.70%;

The latest transaction price of XRP is 0.74885 US dollars, with an intraday change of -2.80%;

The latest transaction price of DOGE is US$0.071068, with an intraday change of -3.56%;

The latest transaction price of ADA is US$0.3122, with an intraday change of -0.30%;

The latest transaction price of MATIC is US$0.758, with an intraday change of -1.66%.

policy

▌USSEC: may appeal against XRP part of the ruling

On July 22, the U.S. Securities and Exchange Commission (SEC) stated that it may appeal part of the previous ruling on XRP by a federal judge, arguing that the decision does not comply with existing securities laws. As previously reported, in mid-July, the U.S. District Court for the Southern District of New York ruled against the U.S. Securities and Exchange Commission (SEC) against Ripple, and believed that XRP, as a digital token, itself does not reflect the “contract, transaction or plan” required by the investment contract Howey. However, the sale of XRP by Ripple institutions constitutes an unregistered investment contract offer and sale.

Blockchain Application

▌****Shanghai: Construct a batch of application scenarios around blockchain and large-scale model technology applications

Jinse Finance reported that the General Office of the Shanghai Municipal People’s Government issued “Several Opinions on Promoting the High-Quality Development of the City’s Productive Internet Service Platform.” Among them, it is proposed to accelerate the integration and application of new technologies. Ge Dongbo, chief engineer of the Shanghai Municipal Economic and Information Technology Commission, said at the municipal government press conference, "Focus on the characteristics of the platform and build a batch of new technology application scenarios. We will implement the requirements of several opinions and build a batch of application scenarios in the direction of data circulation, smart product selection, and smart design around the two technological applications of blockchain and large models, and promote the implementation of the scenarios.

Cryptocurrency

▌Cryptocurrency and Web3Start-up companyBundle** plans to close the exchange business in 9**

Jinse Finance reported that cryptocurrency and Web3 start-up company Bundle revealed that its trading platform plans to close in September 2023, and that the company will then focus on its peer-to-peer (P2P) payment platform Cashlink. The company stated in a statement that with the continuous development of Web3 and the blockchain community, it is necessary to pay attention to payment solutions that meet the needs of the ecosystem. This is Cashlink’s plan. In addition, the last day for users to withdraw cash is August 30, 2023 (subsequent undrawn funds will be automatically converted to USDT), and its registration service will also be closed in the near future. (benjamindada)

▌Curve FinanceThe social media account posted a message saying it was suspected of being attacked

Jinse Finance reported that the social media account of the DeFi protocol Curve Finance posted that if users need to transfer funds on the platform, there seems to be an attack on the protocol, but it did not exhaust all funds at once. Subsequently, the Curve Finance account posted again saying that it had suspended the liquidity pool to ensure that it would not be hacked. It is not clear whether the social media account of Curve Finance was stolen by hackers.

▌ETHRecently active7-10 years supply reaches record high

Jinse Finance reported that according to data from Glassnode, the supply of ETH that has been active for 7-10 years has just reached 4005,727.471 ETH, a record high.

▌The number of Bitcoin Lightning Network nodes is 16,409

Jinse Finance reported that 1ML data shows that there are currently 16,409 Bitcoin Lightning Network nodes, an increase of 0.12% in the past 30 days; the number of channels is 69,394, a decrease of 1.5% from a month ago; the network capacity is 4,954.54 BTC, a decrease of 9% month-on-month.

▌**Data: In the past week, NFT transaction volume exceeded 113 million US dollars, a month-on-month decrease of **23%

According to the news on July 23, according to CryptoSlam data, in the past week, about 464,900 buyers spent more than US$113.5 million on NFT, and the NFT transaction volume decreased by 23% compared with last week; the total network NFT transaction volume was about 2.2 million, a month-on-month decrease of 1%; the Ethereum chain ranked first with a transaction volume of US$72.7 million, and the Bitcoin chain ranked second with a transaction volume of US$9 million; the top five transactions were Gods Uncha ined Cards ($4.7 million), DMarket ($4.5 million), BAYC ($4.2 million), CryptoPunks ($4.1 million), and Uncategorized Ordinals ($3.2 million).

Important economic developments

▌OpenAI plans to release Android version of the official ChatGPTapp next week

Jinse Finance reported that OpenAI revealed on July 21 that it plans to launch the Android version of ChatGPT next week. ChatGPT’s iOS app was launched in May this year, and an Android version was promised, which has now come true. OpenAI highlighted that the Android app has improved security measures compared to the web version. It will also offer features like conversation history syncing across devices, similar to the existing iOS app.

▌The overall loss of public fund products in the second quarter2200.83****100 million

Golden Ten Data reported on July 22 that the public offering funds that achieved profitability in the first quarter of 2023 were hit hard in the second quarter. Statistics from Tianxiang Investment Consulting show that in the second quarter, the overall loss of public offering fund products was 220.083 billion yuan, all equity funds took back, and bond funds and currency funds struggled to “hold up half of the sky.” The reappearance of the “seesaw” of equity fixed income can also be seen from the rankings of fund companies and product funds. Banking fund companies and monetary funds that are good at fixed income have stepped up to the forefront, and at the other end of the list are a group of leading fund companies and well-known equity products that focus on active equity. (China Securities Network) (Golden Ten Data APP)

Golden Encyclopedia

▌****COLD STORAGE

The term refers to keeping bitcoins offline. Cold storage is achieved when a private key for Bitcoin is created and at the same time that private key is stored in a secure offline environment. Cold storage is important for any bitcoin holder. Online computers are vulnerable to hackers and should not be used to store large amounts of Bitcoin.