ChainCatcher news, CoinGecko posted on social media that despite the recent four-day decline causing the total cryptocurrency market cap to drop from $2.44 trillion on August 2 to $1.99 trillion on August 6, this decline is not one of the most severe market corrections in the past decade, as the daily drop was less than 10%.Historical data shows that the most severe correction in the global cryptocurrency market occurred on March 13, 2020, influenced by panic over the COVID-19 pandemic, when the crypto market plummeted by 39.6%. The total cryptocurrency market cap fell from $22.374 billion to $13.514 billion (DoD), whereas the largest sell-off this year occurred in March, with a drop of 8.4%.

ChainCatcher message, Ethereum co-founder Vitalik Buterin stated on the Warpcast platform: "I have noticed that over the past decade, the most successful new ideologies tend to be very specific problem-oriented (i.e., prescriptions for specific issues), and relatively less involved in the meta-level (i.e., social processes about how to make decisions on specific issues). Here are some examples:Abstract libertarianism seems weaker compared to ten years ago. But its specific problem-oriented versions are quite successful: such as YIMBY (housing issues), the cryptocurrency space.e/acc (theoretically involves all technologies, but in practice mainly focuses on artificial intelligence).One of the largest branches of effective altruism has shifted from the meta-level "work harder to ensure your donations bring the most benefit!" to the specific level (such as AI safety, and a small amount of animal welfare and global public health).Longevity movement.Perhaps the network states and Glen and Audrey's diversification movement are two exceptions—but overall, the phenomenon seems to be a strong pattern. Why do you think this shift from meta-level to specific level occurs?"

ChainCatcher news, Ethereum Foundation official researcher Justin Drake posted on X that today is Ethereum's tenth birthday.On July 22, 2014, Ethereum officially launched its ICO, with a fundraising price of 1 BTC exchanging for 2000 ETH, no permission required, no VC, no lock-up. Ten years later, 1 BTC exchanges for less than 20 ETH, which means that ETH has increased more than 100 times relative to BTC over the past decade.

ChainCatcher news, according to CoinDesk, exiled Chinese businessman Miles Guo has been convicted of defrauding his supporters and orchestrating a $1 billion scam involving his company GTV Media Group.U.S. Attorney Damian Williams stated in a press release: "Today, Guo's scheme has been exposed. Just now, the jury unanimously found Guo guilty of extortion and multiple counts of securities fraud, wire fraud, and money laundering. He faces decades in prison."In addition to the criminal trial, the U.S. Securities and Exchange Commission has also charged Guo with raising $500 million from retail investors to establish a cryptocurrency venture called H-Coin, falsely claiming that 20% of the company's assets were backed by gold.

ChainCatcher news, according to Cointelegraph, Pomp Investments founder Anthony Pompliano stated in an interview with CNBC that in the next decade, Bitcoin will become the preferred asset to secure the wealth created by artificial intelligence, "We are entering an automated world where artificial intelligence will create a lot of wealth, and Bitcoin will protect that wealth."Pompliano dismissed the notion that artificial intelligence has already replaced Bitcoin and the broader cryptocurrency industry, becoming the new hot technology trend, explaining that the two technologies will work together in the next 10 years.

ChainCatcher news, stablecoin issuer Circle CEO Jeremy Allaire stated that stablecoins could account for "10% of the global economic currency" in the next decade or longer.Allaire explained: "As the benefits of public chains and stablecoins become increasingly apparent, most of the world's largest payment companies are actively using this technology and exploring how to expand its use. Stablecoins are becoming an increasingly accepted form of digital currency, and by the end of 2025, stablecoins will hold an 'increasingly larger share' of the global $100 trillion electronic currency market, a goal that is achievable in the next decade or so."

ChainCatcher news, Paradigm co-founder Matt Huang posted on social media that when we founded Paradigm in 2018, we believed that cryptocurrency would become one of the most important technological and economic transformations of the coming decades. Six years later, this belief has become even stronger.Bitcoin's market capitalization has exceeded one trillion. Ethereum, Solana, and other blockchain networks are gradually expanding. Stablecoins are being adopted globally, and cutting-edge research is accelerating. New infrastructure is making consumer applications possible. Hundreds of millions of people own cryptocurrency. Cryptocurrency is now a key player on the global political stage.Accelerating the positive development of crypto technology is more important than ever, not only as investors but also as builders. Over the past few years, we have launched several open-source projects, including the popular Ethereum development tool Foundry and the high-performance Ethereum execution node Reth, aimed at advancing the development of crypto technology.

ChainCatcher news, in order to attract more fintech companies and banks, Australia's top cryptocurrency industry body Blockchain Australia has removed the technology from its name and rebranded as the Digital Economy Council of Australia (DECA). DECA plans to establish eight member categories, including crypto and Web3, tokenization, government and charities, payments and banking, among others.This rebranding comes as CEO Simon Callaghan steps down from his position, with former Operations Director Amy-Rose Goodey taking over as Managing Director.

ChainCatcher news, KPMG stated in a report that many forms of digital currencies, such as Central Bank Digital Currencies (CBDCs), tokenized deposits, and stablecoins, are expected to coexist in the financial markets over the next decade. These digital currencies are not a single dominant choice; although their usage may overlap, the report predicts that users will lean towards the most efficient and automated solutions.

According to ChainCatcher, The Block reported that two researchers helped a man recover the lost password to his cryptocurrency wallet, which contained 43.6 bitcoins, currently worth about $2.96 million.The man, referred to as Michael, created a cryptocurrency wallet sometime in 2013 and then used RoboForm to create his unique password. Due to security concerns, Michael stored the password in an encrypted file, choosing not to store it in RoboForm. However, when the encrypted file became corrupted, Michael no longer had access to the 20-character password needed to access the 43.6 bitcoins in the wallet.Although Michael does not fully remember when he created his password, the researchers noted that he transferred bitcoins into his wallet on April 13, 2013. They used specific time parameters to test many passwords until they found the correct one, which was created on May 15, 2013.Michael transferred a portion of the bitcoins to the two researchers. He also sold another small portion, so he now holds 30 bitcoins, worth about $2 million. Michael stated that he intends to hold his bitcoins until the value of a single token reaches $100,000.He added that he is glad he was unable to access the wallet, as holding the tokens for a long time has increased their value over time.

ChainCatcher news, investment strategist Lyn Alden stated that NVIDIA is one of the few assets that has outperformed Bitcoin over the past decade. Data shows that from May 23, 2014, to May 23, 2024, NVIDIA's return on investment was 21,558%, while Bitcoin's return was 13,048%. However, Swan Bitcoin CEO Cory Klippsten mentioned that the likelihood of NVIDIA's stock outperforming Bitcoin in the next 10 years is almost zero. Since the approval of the spot Bitcoin exchange-traded fund (ETF) on January 10, Bitcoin's increase has slightly outperformed NVIDIA, with returns of 31.7% and 30.2%, respectively.

ChainCatcher news, according to CoinDesk, AI zero Gas Layer3 network developer Anomaly, focused on gaming and Telegram users, has raised $1.45 million in an oversubscribed Pre-Seed funding round, with participation from Decasonic, Shima Capital, BreakOrbit, and Round13 Capital. Additionally, Web3 luminary and The 333 Club founder Zeneca also made a strategic investment to support Anomaly's vision.According to Web3 asset data platform RootData, Anomaly is an AI-driven zero Gas Layer 3 gaming platform powered by Arbitrum Orbit and utilizing Gelato's Rollup-as-a-Service (RaaS). The chain will adopt the native gas token $nom to ensure smooth navigation between gaming realms.