Daily Report | OKX will launch spot trading for Xraders (XR); Binance will delist tokens such as BOND and DOCK; Tether is developing a decentralized AI model; Vitalik donated 100 ETH to the 2077 Collective community

Organizer: Fairy, ChainCatcher

Important News:

• CoinShares: $441 million inflow into digital asset investment products last week
• Data: Over 46,000 BTC flowed out of exchanges on July 5, the largest outflow this year
• Binance to delist BOND, DOCK, MDX, POLS
• OKX to launch spot trading for Xraders (XR)
• Data: German government address transferred 1,000 BTC to another controlled address
• Vitalik donated 100 ETH to the 2077 Collective community
• Tether is developing a decentralized artificial intelligence model
• Data: This week, tokens like APT, XAI, IMX will see a one-time large unlock totaling about $159 million
• Data: German government address again transferred a total of 1,600 BTC to CEX and market maker addresses

What important events happened in the past 24 hours?

CoinShares: $441 million inflow into digital asset investment products last week

CoinShares' latest weekly report shows that the total inflow into digital asset investment products reached $441 million last week. The recent price weakness triggered by Mt Gox and the selling pressure from the German government are likely seen as buying opportunities. The inflow amount for Bitcoin reached $398 million, but due to investors choosing to invest in a broader range of altcoins, Bitcoin only accounted for 90% of the total inflow. Blockchain stocks did not reflect an improvement in investor sentiment, with another $8 million flowing out last week.

Data: Over 46,000 BTC flowed out of exchanges on July 5, the largest outflow this year

CryptoQuant analyst Woominkyu stated that the largest Bitcoin withdrawal of 2024 occurred on July 5, when over 46,000 BTC flowed out of spot exchanges.

The peak of outflow shown in the chart indicates that a large amount of Bitcoin is being transferred from exchanges to wallets. Investors typically view such large withdrawals as a bullish signal, believing that large holders may expect prices to rise or wish to hold long-term rather than sell.

Binance to delist BOND, DOCK, MDX, POLS

According to an official announcement, Binance has decided to stop trading and delist the following tokens on July 22, 2024, at 11:00 AM (UTC+8): BarnBridge (BOND), Dock (DOCK), Mdex (MDX), Polkastarter (POLS).

Data: German government address again transferred a total of 1,600 BTC to CEX and market maker addresses

According to Arkham data, the wallet address marked as the German government transferred a total of 1,600 BTC (approximately $91.34 million) to three addresses eight minutes ago, including transferring 300 BTC to Coinbase, 1,000 BTC to the market maker Flow Traders address, and 300 BTC to Bitstamp.

Data: German government address deposited 150 BTC to Kraken 15 minutes ago

According to Arkham monitoring, the German government address deposited 150 BTC (approximately $85.7 million) to Kraken 15 minutes ago.

Additionally, it transferred 1,250 BTC to two unknown addresses, totaling approximately $71.45 million.

Data: German government address transferred 133.722 BTC to market maker Cumberland DRW

According to Arkham monitoring, the German government address transferred 133.722 BTC (worth approximately $76.3 million) to the market maker Cumberland DRW today at 18:58 (UTC+8), marking the first transfer from the German government address to Cumberland DRW.

Additionally, the German government address had previously transferred a total of 500 BTC to Bitstamp and Coinbase.

Data: German government address transferred 1,000 BTC to another controlled address

According to Arkham monitoring, the wallet address marked "German government" transferred 1,000 BTC (approximately $55.76 million) to another address also marked "German government" 13 minutes ago.

OKX to launch spot trading for Xraders (XR)

OKX announced the launch of spot trading for Xraders (XR). XR deposits will open at 2:00 PM Beijing time on July 8, 2024, XR/USDT spot trading will open at 4:00 PM Beijing time on July 11, 2024, and XR withdrawals will open at 6:00 PM Beijing time on July 12, 2024.

It is reported that Xraders is a decentralized expert-selected platform that provides actionable insights for investors by combining AI modeling with community-driven validation, aimed at enhancing the user trading experience.

Vitalik donated 100 ETH to the 2077 Collective community

Ethereum co-founder Vitalik Buterin donated 100 ETH to the 2077 Collective community. The mission of the 2077 Collective is to enhance the influence and appeal of Ethereum through innovative initiatives and community-driven efforts.

Taiwan establishes CBDC prototype platform, plans to hold hearings next year

Taiwan has established a prototype platform for central bank digital currency (CBDC). The Central Bank of Taiwan will continue to research and develop CBDC, planning to hold multiple hearings and forums next year. Reports indicate that the central bank has developed a CBDC prototype platform with a two-tier issuance structure. The initial CBDC will not bear interest, and the CBDC wallet may include both anonymous and registered types.

Fuel launches points program for potential incentives before mainnet launch

Ethereum modular execution layer Fuel announced the launch of the Fuel Points program, which offers an opportunity to earn future rewards as the Fuel Mainnet approaches launch. The Fuel Points program aims to reward all contributors to the development of the Fuel network and ecosystem.

It is reported that the Fuel network is an operating system built specifically for Ethereum rollups (Rollup OS), aimed at advancing sustainable state and high-throughput blockchain.

Market news: Thai government to announce negative list for digital wallet plan

The Prime Minister of Thailand will announce digital wallet registration on July 24, and the Thai government will also announce a negative list for the digital wallet plan.

Greeks.live: The cryptocurrency market is experiencing the worst July, with overall IV levels rebounding significantly

Greeks.live macro researcher Adam posted on social media that this week is a macro small week, and the recent actions of the German and American governments in selling cryptocurrencies have overshadowed other factors in the market. The continuous selling makes it difficult for the market to improve effectively, and this week requires close attention to the actions of the German and American governments. In the crypto space, the SEC has delayed its response to the ETH ETF, with trading expected to start as early as next week, and there is a high probability of favorable news this week.

The cryptocurrency market is experiencing the worst July, with significant pressure from the selling by the German and American governments, causing BTC and ETH to decline rapidly, leading to a sluggish crypto market. Currently, the overall IV level has rebounded significantly, and selecting higher IV for timing can allow for short positions, as a large amount of capital from quarterly settlements could push IV back down at any time.

In the crypto interest rate market, Bitfinex's interest rate market is relatively quiet, with occasional good interest rate orders, and suitable interest rate orders can be actively executed.

The ETF Store President: Expect the revised Ethereum spot ETF S-1 to be due today

The ETF Store President Nate Geraci posted on social media that the revised S-1 will be due today (July 8), and it is still unclear how quickly the U.S. Securities and Exchange Commission will process it.

Nate Geraci expressed concern about fees, and he previously predicted that the Ethereum spot ETF could be launched within the next week or two.

Tether is developing a decentralized artificial intelligence model

According to Beincrypto, stablecoin issuer Tether is developing a decentralized artificial intelligence (AI) model. The company's CEO Paolo Ardoino stated that these models better protect user privacy, ensuring system resilience and independence, and could have been used to prevent the hacking attacks that OpenAI suffered last year. He pointed out that the capabilities of the new generation of smartphones and laptops are powerful enough to fine-tune general large language models (LLMs) based on user data, enabling enhanced functionality to be stored locally on devices.

Data: This week, tokens like APT, XAI, IMX will see a one-time large unlock totaling about $159 million

According to Token Unlocks data, multiple projects will see a one-time large unlock of tokens this week, with APT, XAI, and IMX unlocking a total of about $159 million, including:

• Aptos (APT) will unlock approximately 11.31 million tokens at 9:59 PM Beijing time on July 12, accounting for 2.49% of the current circulation, valued at approximately $63 million;
• Xai (XAI) will unlock approximately 198.4 million tokens at 5:30 PM Beijing time on July 9, accounting for 71.59% of the current circulation, valued at approximately $55 million;
• Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 AM Beijing time on July 12, accounting for 2.15% of the current circulation, valued at approximately $41.6 million;
• dydx (DYDX) will unlock approximately 1.55 million tokens at midnight Beijing time on July 10, accounting for 0.68% of the current circulation, valued at approximately $1.9 million;
• Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 AM Beijing time on July 11, accounting for 0.34% of the current circulation, valued at approximately $560,000;
• io.net (IO) will unlock approximately 2.11 million tokens at 8:00 PM Beijing time on July 11, accounting for 2.22% of the current circulation, valued at approximately $4.4 million;
• Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 PM Beijing time on July 14, accounting for 0.87% of the current circulation, valued at approximately $560,000.

"What are the exciting articles worth reading in the past 24 hours?"

The booming TON ecosystem: Why are most VCs currently just watching and not investing?

Recently, Donald, the founding partner of the FA firm D2 Capital, spoke with nearly 60 VCs and found that none were not watching the TON ecosystem, "Even if they started late, they began researching it three to four weeks ago."

However, while they are watching, very few are actually investing. Most VCs that Donald interacted with are still in a wait-and-see mode, and Bruce Lan, managing partner of Bing Ventures, has scanned nearly 100 projects without making a move.

RootData shows that the number of financing rounds in the TON ecosystem in the past six months is still in single digits. In contrast, the Bitcoin ecosystem, which has a similar level of excitement to TON, has seen financing almost every week during its explosive three-month period.

Investment institutions interviewed by ChainCatcher firmly believe that the TON ecosystem is different from any past ecosystem or narrative and will not be a flash in the pan. However, the gameplay in the TON ecosystem, which has ready traffic, has also changed.

NotCoin, which has been listed on Binance and OKX, did not seek VC financing; Catizen achieved $12 million in revenue before issuing tokens. More than one investment institution has stated, "In the future, it is not necessary for projects in the TON ecosystem to issue tokens."

If crypto VCs continue to view the TON ecosystem solely through the lens of token investment, it may no longer be effective.

MEME becomes the cake to fight for in the bull market: Pump.fun data inflated, TON, Jupiter, and others intensively entering the fray

The market has taken a sharp downturn, and the mainstream coin market is lukewarm. MEME coins are becoming the main battleground for various ecosystems.

On July 4, Jupiter announced the launch of a MEME market discovery tool called APE. In addition, in June, the well-known industry tracking tool DEX Screener also launched a similar issuance platform called Moonshot, which saw over 7,000 MEME tokens released in just one day. The hot TON ecosystem has also successively launched several one-click MEME coin issuance platforms: Gas Pump, Wonton, Pumper.

As the market has recently entered a phase of turbulence, this seemingly lucrative track has become a red ocean, and the enthusiasm for MEME appears to be exaggerated. More and more entrants are moving against the wind.

Why do you always lose? The 10 psychological biases you need to overcome

Your biggest trading mistakes are not technical but psychological errors, and these biases have destroyed countless traders.

Avoid the following points at all costs:

1. Anchoring Bias

• Traders focus on a single price (anchor), which may affect their decisions.
• If Trader A enters the cryptocurrency market when BTC is priced at $52,000, then $61,000 BTC seems expensive.
• If Trader B enters the cryptocurrency market when BTC is priced at $71,000, then $61,000 BTC seems cheap.