Rhythm Morning News｜A summary of important news from last night and this morning on August 19

Bitcoin fell back below $59,000

BlockBeats news, on August 19, according to HTX market data, Bitcoin fell back below $59,000, and is now quoted at $58,976, a 24-hour drop of 0.76%.

DODO rose above $0.13, a 24-hour increase of 32.7%

BlockBeats news, on August 19, according to HTX market data, DODO rose above $0.13, and is now quoted at $0.137, a 24-hour increase of 32.7%.

SUNDOG's market value briefly exceeded $100 million, with a 24-hour increase of 56.33%

BlockBeats news, on August 19, according to market data, the market value of the TRON chain Meme token SUNDOG briefly exceeded $100 million in the early hours of this morning, and the currency price is now $0.088, with a 24-hour increase of 56.33%. The current market value of the token is temporarily reported at $88.09 million, with about 9,510 addresses holding the currency and a 24-hour trading volume of $5.43 million.

BB briefly broke through $0.33, with a 24-hour increase of 17.4%

BlockBeats news, on August 18, according to market data, BB briefly broke through $0.33 and is now quoted at $0.325, with a 24-hour increase of 17.4%.

Swarm (BZZ) rose by more than 40% in a short period of time, and is now quoted at $0.317

BlockBeats news, on August 18, according to market data, Swarm (BZZ) rose by about 45% in a short period of time, reaching a high of $0.376, and has now fallen back to $0.317.

Chameleon Travel Club's floor price is as high as 2 ETH today, with a maximum daily increase of 81%

BlockBeats news, on August 18, according to Blur market information, Chameleon Travel Club's floor price is as high as 2 ETH today, with a maximum daily increase of 81%.

According to official news, Chameleon.travel has entered the RWA track and has currently linked hundreds of holiday mansions with a total asset size of more than 300 million US dollars. The team is planning to gradually introduce luxury mansion assets from the world's top resorts, and will provide users with a seamless experience through on-chain leasing and sales.

At the same time, the platform has on-chain DID identity functions, which will be fully open to the Web3.0 industry, giving priority to providing services for well-known NFT and token projects. As long as users have digital assets that can be mortgaged on the chain, they can obtain Chameleon's credit services and travel freely around the world.

RARE rose more than 60% in 24 hours to break through $0.3, setting a new high in nearly two years

BlockBeats news, on August 18, according to market data, RARE rose above $0.3, and is now quoted at $0.3004, setting a new high in nearly two years, with a 24-hour increase of 61.5%, and a rise of more than 300% in 4 days.

The tokens of the blockchain game metaverse sector rose sharply, and DAR rose by more than 65% in the past 4 hours.

BlockBeats news, on August 18, according to market information, the tokens of the blockchain game metaverse sector generally rose, including:

DAR (Mines of Dalarnia) is currently quoted at 0.20722 US dollars, with a nearly 4-hour increase of more than 65%;

TLM (Alien Worlds) is currently quoted at 0.01456 US dollars, with a nearly 4-hour increase of more than 47%;

ALICE is currently quoted at $1.163, with an increase of more than 31% in the past 4 hours;

VOXEL is currently quoted at $0.1322, with an increase of more than 28% in the past 4 hours;

MBOX is currently quoted at $0.1502, with an increase of more than 17% in the past 4 hours.

The total market value of stablecoins has increased by 1.62% in the past week

BlockBeats news, on August 18, according to DefiLlama data, the total market value of stablecoins increased by 1.62% in the past week, and is now reported at $168.121 billion.

Among them, the total market value of USDT increased by 1.25%, and the total market value of USDC increased by 1.2%.

Polymarket's Trump and Kamala's chances of winning the election are equal

BlockBeats news, on August 18, according to data on Polymarket, the market predicts that the probability of Trump and Kamala winning the 2024 US presidential election is the same, 49%.

Data: Only 0.47% of pump.fun users make more than $10,000, and 80% of users suffer losses

BlockBeats news, on August 19, according to the pump.fun platform trading data released by @arndxt_xo on social media:

· Only 70 traders (accounting for 0.0028%) made a profit of more than $1 million;

· Only 924 traders (accounting for 0.037%) made a profit of more than $100,000;

· 11,936 traders (accounting for 0.477%) made a profit of more than $10,000;

· 76,567 Traders (3.061%) made a profit of more than $1,000;

Only 20% of traders made a profit, while the remaining 80% suffered losses.

Data: Since the launch of SunPump, the TRON network has added 4,888 Meme coins

BlockBeats news, on August 18, according to Lookonchain monitoring, since the launch of SunPump, the TRON network has created 4,888 new Meme coins, bringing in 1.84 million TRX (about 246,600 US dollars) in revenue.

Avalon Labs wins BNB Incubation Alliance and announces brand upgrade

BlockBeats reported that on August 19, Avalon Labs (formerly Avalon Finance), a well-known lending protocol in the Bitcoin ecosystem, tied for first place with Bedrock in the second round of the BNB Incubation Alliance in Nashville, and will enter the MVB program.

At the same time, Avalon Labs announced the completion of its brand upgrade, focusing on CeDeFi and DeFi lending around Bitcoin, and will promote its lending stablecoin. The upgrade aims to serve both retail and institutional users, and is committed to establishing a more complete on-chain lending system and setting industry standards.

This move by Avalon Labs marks its further development in blockchain technology and financial services, and demonstrates its leading position in promoting global decentralized financial innovation.

Peter Thiel: Bitcoin is a great invention that has been underestimated in the first 10-11 years

BlockBeats news, on August 18, billionaire and top Silicon Valley investor Peter Thiel said in the latest Joe Rogan podcast that he believes Bitcoin is a great invention that has been systematically underestimated in the first 10-11 years, and early users don’t even know how to deal with Bitcoin.

VanEck: Bitcoin miners shifting 20% to AI and HPC could generate $13.9 billion in revenue per year

BlockBeats news, on August 18, VanEck pointed out in a report that if by 2027, some Bitcoin miners transform to provide energy for artificial intelligence and high-performance computing (HPC) fields, there is an opportunity to generate an additional revenue of approximately US$13.9 billion per year.

The report said, "Bitcoin miners' balance sheets are generally bad, either because of too much debt, too much equity issuance, too much executive compensation, or all three."

VanEck estimates that if publicly traded Bitcoin mining companies shift 20% of their energy capacity to AI and HPC by 2027, "then the total additional profits could average more than $13.9 billion per year over 13 years."

This week's macro events at a glance: The Federal Reserve's meeting minutes and the number of jobless claims that week will be released on Thursday, and Powell will speak on the economic outlook on Friday night

BlockBeats news, August 19 According to market data, the main macroeconomic events that may affect the trend of the crypto market this week include:

· At 1:35 a.m. on August 21 (Wednesday), Bostic, the 2024 FOMC voting member and President of the Atlanta Fed, will deliver a speech.

· At 2:00 a.m. on August 22 (Thursday), the Federal Reserve will release the minutes of the monetary policy meeting.

· At 20:30 on August 22 (Thursday), the U.S. Department of Labor will release the number of initial jobless claims in the United States for the week ending August 17.

· At 22:00 on August 23 (Friday), Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the Jackson Hole Annual Meeting.

Goldman Sachs: Expected to cut interest rates by 25 basis points three times in a row starting in September

BlockBeats news, on August 18, Goldman Sachs detailed the agenda of the Jackson Hole Global Central Bank Annual Meeting in its report this week. The most anticipated speech is Powell's speech. Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 a.m. Eastern Time on August 23 (22:00 Friday Beijing Time). The speech will be live but there will be no question-and-answer session afterwards.

Goldman Sachs pointed out that the market may receive signals of "confidence in rate cuts" and "data dependence", and it is expected that Powell's information and off-site interviews will be similar to what has been heard in the past few weeks, that is, the Fed is now close to cutting interest rates, but the degree of easing will depend on the upcoming data. Goldman Sachs economists expect the Fed to cut interest rates by 25 basis points three times in a row starting in September, and believe that the market has overpriced a 50 basis point rate cut at the next meeting after the weaker-than-expected July employment data. (Wall Street News)

This week's unlocking data at a glance: AVAX worth nearly $200 million will be unlocked on August 20, accounting for 2.41% of the circulating supply

BlockBeats news, on August 19, according to Token Unlocks data, 9 projects will usher in token unlocking this week, with a total of approximately $219 million. The large unlockings include: Pixels (PIXEL) will unlock approximately 54.37 million tokens at 18:00 on August 19, accounting for 7.05% of the current circulation, worth approximately US$7.8 million; Avalanche (AVAX) will unlock approximately 9.54 million tokens at 8:00 on August 20, accounting for 2.41% of the current circulation, worth approximately US$197 million; SPACE ID (ID) will unlock approximately 18.49 million tokens at 8:00 on August 22, accounting for 4.29% of the current circulation, worth approximately US$6.63 million; Ethena (ENA) will unlock approximately 14.89 million tokens at 15:00 on August 25, accounting for 0.82% of the current circulation, worth approximately US$1. 4.44 million US dollars.

Wall Street bets that Powell will confirm that the interest rate cut will be made, but if it falls short of expectations, it may trigger negative sentiment

BlockBeats news, on August 19, according to market data, Wall Street bets that Federal Reserve Chairman Powell will confirm that the Federal Reserve is about to cut interest rates at the Jackson Hole Annual Meeting. But as the focus shifts from "whether there will be a rate cut" to "how much the rate cut will be", stock traders may be disappointed.

"If traders hear that there will be an upcoming rate cut, the stock market will react positively," said Eric Beiley, executive managing director of wealth management at Steward Partners Global Advisory. "If you don't hear the information you want, it will trigger a massive sell-off." The market fully expects the Federal Reserve to start cutting interest rates at the September meeting. But Powell could easily keep his mouth shut about the timing of the rate cut when he speaks on Friday. True to his character, he is also likely to take a cautious, vague approach to revealing how far rates might fall once the Fed is done easing. “The market is confident that a rate cut is coming very soon,” Beiley said. It would be a huge surprise if Powell didn’t emphasize that this is the path forward.