LianGuai Daily | Virtual Asset Futures ETF Promotes the Development of Hong Kong’s Asset and Wealth Management Industry
LianGuai Daily Virtual Asset Futures ETF Boosts Hong Kong's Asset and Wealth Management Industry
Headline
▌Musk: X will never launch a cryptocurrency token
LianGuai reported that X (formerly known as Twitter) CEO Musk replied to DogeDesigner, saying that X will never launch a cryptocurrency token.
▌Data: USDC circulating supply decreased by $500 million in the past week
LianGuai reported that according to official data, Circle issued $1.1 billion USDC in the past 7 days and redeemed $1.6 billion USDC, resulting in a decrease of $500 million in circulating supply. As of August 5th, the total circulating supply of USDC is $26 billion, with reserves of $26.1 billion, including $1.8 billion in cash and $24.3 billion held by Circle Reserve Fund.
▌Hong Kong SFC Annual Report: Virtual asset futures ETFs promote asset and wealth management industry development in Hong Kong
- Curve’s controversy adds a comma, how does it impact itself a...
- Founded for 2 years, with each employee valued at $21 million, why ...
- A new perspective on RWA? Listen to what the regular army in Hong K...
LianGuai reported that the Hong Kong Securities and Futures Commission (SFC) released the annual report on “Asset and Wealth Management Activities Survey”. The report revealed that the asset management industry in Hong Kong had a total scale of $3.9 trillion and recorded a net capital inflow of $11 billion. The report also mentioned the recent development and prospects of asset and wealth management activities in Hong Kong, and specifically highlighted the SFC’s inclusion of regulations for ETFs investing in virtual asset futures, including the world’s first Ethereum futures ETF and Asia’s first Bitcoin futures ETF, which predominantly invest in virtual asset futures traded on the Chicago Mercantile Exchange. In addition, the SFC and the Investor Education Committee (IEC) have collaborated to develop investor education materials to explain the key features and risks of these innovative ETFs to the public.
Market
According to coinmarketcap data at the time of writing:
BTC recent trading price is $29,067, with a daily change of +0.05%;
ETH recent trading price is $1,835.43, with a daily change of +0.34%;
BNB recent trading price is $242.9, with a daily change of +0.58%;
XRP recent trading price is $0.62744, with a daily change of -0.53%;
DOGE recent trading price is $0.075731, with a daily change of +3.40%;
ADA recent trading price is $0.2927, with a daily change of -0.12%;
MATIC recent trading price is $0.666, with a daily change of +0.53%.
Policy
▌US Southern District Court of New York has dismissed the collective lawsuit against Tether and Bitfinex
On August 5th, Tether announced that Chief Judge Laura Taylor Swain of the US Southern District Court of New York issued a ruling, including an order dismissing the collective lawsuit filed by Matthew Anderson and Shawn Dolifka against Tether and Bitfinex. The court correctly found that the plaintiffs’ complaint lacked any reasonable allegation of harm, as it did not contain any factual basis to suggest a fundamental decline in the actual value of USDT.
Blockchain Applications
▌Opinion: NFT Trading Slows Down, Developers Still Interested in Finding Broader Use Cases for Blockchain Tokens
LianGuai reports that a new report released this week indicates a significant slowdown in NFT trading. Despite this, developers continue to deploy millions of smart contracts on EVM-compatible chains, indicating their interest in finding broader use cases for blockchain tokens. Meanwhile, Etihad Airways has announced plans to launch a Web3 loyalty program, allowing its frequent flyer community to exchange NFTs for miles. In addition, the team behind the Ordinals protocol is launching a non-profit organization to keep its development “clean” and free from corporate influence.
▌Hong Kong Financial Secretary: Currently, 1,100 Innovation and Technology Companies Have Settled in the Science Park
LianGuai reports that Hong Kong Financial Secretary Paul Chan Mo-po attended the Happy Hong Kong Market @ Science Park launch ceremony yesterday and delivered a speech. Chan stated that the Hong Kong SAR government has been fully committed to promoting the development of innovation and technology in Hong Kong in recent years, investing considerable resources in the development of artificial intelligence, big data, fintech, and other areas. In addition to being an international financial center, Hong Kong has over a hundred green technology companies in the Science Park and Cyberport. Currently, 1,100 innovation and technology companies have settled in the Science Park, including the birth of five unicorn companies.
Cryptocurrencies
▌Data: Grayscale GBTC Premium Narrows to 26.5%
LianGuai reports that according to Coinglass data, the current total value of Grayscale’s holdings is approximately $27.328 billion, with the Grayscale Bitcoin Trust (GBTC) trading at a premium of 26.5%. The premium for the ETH Trust is 35.47%. In addition, the premium for the ETC Trust is 55.36% and for the LTC Trust is 33.8%.
▌Cryptocurrency market prices continued their sluggish trend this week
LianGuai reports that according to CoinGecko, cryptocurrency market prices continued their sluggish trend this week, with BTC falling 1.1% in the past seven days to a current trading price of $28,972. ETH fell 2.3% to close at $1,829. Despite Tether’s recent quarterly report showing a profit of $850 million for the second quarter and total excess reserves increasing to $3.3 billion, USDT, which is pegged to the US dollar, has still not reached its target price and is currently trading at $0.998247. Several large altcoins experienced significant declines, including XRP, down 12% to $0.624960, SOL, down 9.8% to $22.64, TRX, down 8.1% to $0.077501, LTC, down 9.5% to $82.37, TON, down 8.3% to $1.19, and XLM, down 14.4% to $0.136595.
▌Bitrace: 1023.8 WBTC transferred from Multichain and exchanged for stablecoins, the case may enter the fund disposal process
On August 5th, Bitrace, a blockchain data analysis company, revealed that an address marked as Multichain Suspicious Address4 has transferred 1023.8 WBTC (approximately $29.69 million) to an address starting with 0x3c74. The address has converted these assets into stablecoins and transferred them. Bitrace believes that these assets have been transferred to several acceptance service providers, and a large amount of funds have been cashed out and returned to exchanges. The outflow of funds is associated with the rumored FTX bribery fund. Bitrace speculates that the Multichain funds have been confiscated and the case has entered the fund disposal process. It is possible that more funds will flow out and be cashed out in the future.
▌JPEG’d has received 5494.4 WETH returned by white-hat hackers
On August 5th, DeFi public product JPEG’d tweeted that the DAO multisig address has confirmed the receipt of 5494.4 WETH. The owner of the address that recovered the funds from the pETH vulnerability received a 10% (610.6 WETH) white-hat bounty.
▌The total locked value in Ethereum L2 networks is 10.57 billion US dollars
According to LianGuai’s report, L2BEAT data shows that as of August 5th, the total locked value in Ethereum Layer2 is 10.57 billion US dollars. Among them, the highest locked value is in the scaling solution Arbitrum, which is approximately 5.93 billion US dollars, accounting for 56.15%. The second is OP Mainnet with a locked value of 2.94 billion US dollars, accounting for 27.88%. The third is zkSync Era, with a locked value of 464 million US dollars, accounting for 4.39%.
▌The total market capitalization of cryptocurrencies is 1,207,338,324,702 US dollars
According to LianGuai’s report, according to CoinGecko’s data, the current total market capitalization of cryptocurrencies is 1,207,338,324,702 US dollars, with a 24-hour trading volume of 28,157,808,735 US dollars. The current market capitalization of Bitcoin accounts for 46.8%, and the market capitalization of Ethereum accounts for 18.3%.
Important Economic News
▌Approximately 27 billion funds net inflow into stock ETFs, CSI 300 ETF becomes the “money magnet”
According to Jin10 Data on August 5th, a total of approximately 27 billion funds were net bought into stock ETFs this week, with a total scale exceeding 1.6 trillion. Among them, the SSE 50 and CSI 300 broad-based index ETFs almost dominated the list and became the main money attractors this week. Narrow-based theme ETFs, such as healthcare and Nasdaq, which have experienced adjustments, also received fund allocations. On the other hand, the leading brokerage sector ETFs faced net redemptions. Looking at a longer time frame, off-exchange funds have continued to actively enter the market. In the second half of the year, nearly 80 billion funds have entered the equity market through stock ETFs. In addition to broad-based index ETFs represented by the Science and Technology Innovation Board, Growth Enterprise Market, and CSI 300, the two major segmented industry theme ETFs in semiconductors and Western medicine and biotechnology have also seen significant fund inflows. At the same time, northbound funds have also continued to make net purchases. (China Fund News) (Jin10 Data App)
LianGuai Encyclopedia
▌Wallet Address
If we compare an ETH wallet to a bank card account, then the ETH wallet address can be seen as the bank card number. The difference is that the ETH address can be stored off the network and can exist independently of your wallet.
Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and does not constitute actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
