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The DEX Arcus, built by the dYdX team, has launched a new protocol on the Robinhood Chain that converts perpetual contract positions into transferable ERC-20 tokens and allows users to use tokenized stocks as collateral for leveraged trading.The products launched by the protocol include pBTC3x and pHOOD3x, which provide 3x exposure to Bitcoin and the Robinhood stock token HOOD, respectively. Its multi-collateral feature initially supports SPY, QQQ, and MAG7 stock tokens, with a loan-to-value ratio of 50%, allowing users to use tokenized stocks as collateral for perpetual contract positions.Arcus CEO Eddie Zhang stated that traditional markets have taken decades to make complex investment strategies accessible through products like leveraged ETFs, and the next step is to integrate these strategies natively into blockchain infrastructure. Since its launch on the Robinhood Chain, Arcus has accumulated a trading volume of over $250 million, with an average daily trading volume exceeding $33 million; since its launch on July 1, the Robinhood Chain has reached a TVL of $596 million, ranking among the top 15 in DeFi TVL.

CoinDesk cites data from Glassnode indicating that Bitcoin recently surged to $80,000, primarily driven by short sellers being forced to cover their positions, rather than a large influx of new buyers. This characteristic has historically made the market more sustainable.Data shows that as short positions were liquidated, Bitcoin futures open interest has dropped to 587,584 BTC, marking a nearly 5-month low. The market leverage level has decreased, providing a relatively more solid foundation for price trends.

According to Coinglass data, the total contract open interest for BTC has increased by 5.41% in the past 24 hours, with the current total open interest at $58.453 billion. Among them, the open interest for Binance is $11.456 billion, OKX is $2.945 billion, Bybit is $4.683 billion, and Gate is $4.808 billion.

The Ethereum community has released a deposit contract EIP proposal that supports post-quantum computing. The proposal aims to introduce a new contract that supports variable-length public keys and credential metadata, along with a clear scheme identifier, where scheme 0 is reserved for the current BLS deposits.The new contract no longer relies on the Merkle tree structure of the old deposit contract but instead passes deposit information to the consensus layer through execution requests derived from EIP-7685 logs. This contract features an irreversible mode controlled by protocol system calls: deposits are initially disabled, BLS deposits are enabled at a specified timestamp, and BLS deposits are permanently disabled at a later timestamp, with no option for re-enabling. During the migration period, the execution client must merge deposit requests from the new and old contracts.

The Binance contract platform will successively launch multiple USDT-denominated perpetual contracts starting from August 25 at 17:00, including SKUUUSDT, SKDDUSDT, RAMUSDT, DJTUSDT, and MRNAUSDT, with a maximum leverage of up to 20 times.

According to the official announcement, to meet the diverse investment needs of users, Bitget has launched two stock perpetual contracts: DE (Deere & Company) and JP225 (Nikkei 225 Index). The above contracts are settled in USDT, support up to 20 times leverage, and allow trading 7 × 24 hours. As of now, Bitget supports a total of 282 stock perpetual contract underlying assets.

The founder of Strategy, Michael Saylor, stated that Bitcoin is gradually transitioning from an early "peer-to-peer electronic cash" experiment to a global digital capital infrastructure. As Bitcoin is widely adopted by individuals, funds, publicly listed companies, banks, custodians, trading platforms, and governments, some of the early Bitcoin culture has evolved from a risk defense mechanism into a form of "orthodoxy," which includes viewing self-custody as the only legitimate way to hold Bitcoin and categorizing financial products related to Bitcoin, such as ETFs, bonds, preferred stocks, and derivatives, as "paper Bitcoin." These views played an important role in the early development of Bitcoin, but are now insufficient to explain its expanding economic ecosystem.The more important role of Bitcoin in the future may not be to replace fiat currency as a daily payment tool, but rather to become a scarce, globally liquid, programmable "digital capital" that does not rely on an issuer. Fiat currency will still play a core role in taxes, wages, contracts, and everyday business, while Bitcoin can form a new layered financial system with banks, securities, credit, insurance, and corporations. Self-custody should be viewed as a right rather than an obligation, and professional custody, multi-signature, institutional custody, and trading platform products can all play a role based on different users' risk tolerance and actual needs. What truly needs to be vigilant is not all counterparties, but those counterparties lacking transparency, isolation mechanisms, governance capabilities, and risk control; "do not trust any institution" should shift to risk identification of different institutions.The next phase of the Bitcoin ecosystem will be the expansion of the "digital capital market," rather than a return to a closed pure Bitcoin economy. With the continuous development of spot Bitcoin ETFs, publicly listed companies' Bitcoin reserves, bonds, preferred stocks, and other financial products, Bitcoin is becoming a new underlying asset that connects stocks, debt, credit, currency, derivatives, and even the machine economy. This trend can be termed the "Bitcoin Reformation," with core principles including "protocol minimalism, economic maximization," "replacing founder worship with first principles," "self-custody as a right rather than a ritual," "judging security by evidence rather than brand," "replacing counterparty nihilism with counterparty identification," and allowing fiat currency and Bitcoin to coexist in the long term. Bitcoin is not abandoning its early core principles but is breaking free from its cultural limitations: it is transitioning from electronic cash to digital gold and further becoming a digital capital network that encompasses capital, credit, equity, debt, currency, and the machine economy.

On Monday local time, Nvidia Senior Director Dion Harris announced that the Groq 3 LPX rack has entered full-scale production and will be deployed in the data center of the new cloud service provider Nebius, expected to go live later this year. This move marks the commercialization of the technology obtained by Nvidia after reaching a technology licensing deal worth approximately $20 billion with Groq last December. Several core employees from Groq have joined Nvidia, with founder Jonathan Ross serving as Nvidia's Chief Software Architect.Nvidia is accelerating the production of Groq chips and providing products to customers, highlighting the importance of low-latency inference. The Groq 3 LPX, released in March this year, is an inference accelerator for the Vera Rubin platform, integrating 500 megabytes of high-speed SRAM on the chip die to reduce memory bottlenecks. Each LPX rack can integrate 256 Groq 3 chips, and Nvidia cites benchmarks indicating it can process 3,400 tokens per second; the chip is manufactured by Samsung.Harris stated that low-latency chips are not meant to replace GPUs but are designed to use the appropriate processor for different stages of workloads, allowing cloud service providers to offer higher-priced packages for latency-sensitive users. Nvidia CEO Jensen Huang plans to allocate about a quarter of the data center space for programming applications to Groq chips, with the remainder using the Vera Rubin system, and expects cumulative sales of Blackwell and Vera Rubin to reach $1 trillion by 2027.

According to Coinglass data, the total contract open interest for BTC has increased by 5.47% in the past 24 hours, with the current total open interest at $58.224 billion. Among them, Binance's open interest is $11.464 billion, OKX's open interest is $2.947 billion, Bybit's open interest is $4.623 billion, and Gate's open interest is $4.729 billion.

According to The Kobeissi Letter, the call options volume for the Bitcoin ETF IBIT reached 1.58 million on Wednesday, setting a new single-day historical high; the volume exceeded 1 million for three consecutive trading days from Wednesday to Friday, as investors chased the crypto rebound.As a result, the call skew increased by 0.05 points over the past three days, marking the largest three-day increase in at least two years, more than three times the average three-day change since January 2025. This indicator measures the relative cost of upside versus downside options, and a significant increase in this metric indicates that investors are more willing to pay a premium for upside exposure.

According to Bloomberg, Trade.xyz and Hyperliquid are inspired by their success and are pursuing grander goals. They are lobbying regulators in hopes of opening pre-IPO perpetual contracts in the United States, claiming that these tools can help modernize the traditional IPO process by improving price discovery. Hyperliquid operates outside the United States and has not officially opened to U.S. traders. Trade.xyz is also subject to the same restrictions.

According to a post by Santiment, BTC has recently risen by about 22%, and the open interest in Bitcoin has decreased from approximately 353,500 BTC during the period from August 12 to August 18, to about 312,600 BTC on August 23, a decrease of about 11%, reaching a low not seen in at least a month.

Due to the recent recovery in the cryptocurrency market, according to CoinGlass data, the 24-hour trading volume of Bitget BTC contracts is approximately $2.508 billion, a week-on-week increase of 25.13%; the 24-hour trading volume of ETH contracts is approximately $2.593 billion, a week-on-week increase of 33.21%.

According to a report by Reuters, Tether's Bitcoin mining project in Uruguay has ultimately come to a halt due to a power supply contract dispute with the local state-owned electricity company UTE, with an estimated investment scale of about $120 million. The two parties have differences regarding the contracted power supply amount, with Tether believing the relevant figure is the minimum guaranteed supply, while UTE considers it the maximum supply limit.Due to the failure to sign a new agreement and overdue electricity payments, UTE cut off power supply to two mining sites on July 25, 2025. Tether subsequently ended its local operations and laid off most of its employees. The Uruguay project was seen by Tether as the "first step" into the South American Bitcoin mining market. However, Tether continues to expand its regional energy and mining layout, having previously acquired a 70% stake in the renewable energy company Adecoagro and plans to utilize its remaining electricity for Bitcoin mining.

According to Gate market data, as Bitcoin fell below $77,000, the crypto market experienced a pullback, with altcoins generally under pressure and declining. Among them:TAC is currently priced at $0.001672, down 40.86% in 24 hours;FHE is currently priced at $0.01978, down 30.03% in 24 hours;SQD is currently priced at $0.03, down 29.01% in 24 hours;PTB is currently priced at $0.0007364, down 27.11% in 24 hours;INX is currently priced at $0.006619, down 26.43% in 24 hours;BASED is currently priced at $0.07328, down 25.35% in 24 hours;SWARMS is currently priced at $0.007254, down 24.80% in 24 hours;BEAT is currently priced at $0.1342, down 24.18% in 24 hours.

According to Coinglass data, the total contract open interest for ETH has decreased by 5.78% in the past 24 hours, with the current total open interest at $31.365 billion. Among them, Binance has an open interest of $8.668 billion, OKX has an open interest of $1.639 billion, Bybit has an open interest of $2.243 billion, and Gate has an open interest of $2.51 billion.

According to on-chain analyst Ai Yi's monitoring, the Binance futures trading account "Jiu Jiu Jin" cleared its position this morning, incurring a loss of 3.46 million USD.It held 250 BTC short positions, with an opening average price of 63,592 USD, and closed at an average price of 77,758.91 USD this morning. It stated errors including missing the market after clearing at 64,000 USD following a spot buy at 58,000 USD, and not setting a reasonable stop-loss when chasing the short.

According to Cointelegraph, the deposit scale of the V4 version of the decentralized lending protocol Aave is approaching $750 million. In the past week, this version has attracted over $300 million in inflows, showing significant deposit growth.As a mainstream DeFi lending platform, Aave's V4 upgrade continues to receive market attention, and the recent net inflows reflect users' recognition of the protocol's liquidity and functionality.

According to Onchain Lens monitoring, Loracle (0x8def...2dae) has a short position of 685,700 HYPE worth approximately 56.39 million USD, with an unrealized loss of 19.55 million USD; its historical cumulative loss has reached 35.31 million USD. The liquidation price of this position is 101.16 USD, and the HYPE price has surpassed 82 USD, setting a new historical high.