Rhythm Evening News｜A list of important information in the crypto industry on August 29

Affected by the news of Binance launching the contract, CHESS rose by more than 35% in a short period of time

BlockBeats news, on August 29, according to HTX market data, affected by the news of "Binance launching 1-75 times U-based perpetual contracts", CHESS rose by more than 35% in a short period of time and is now quoted at US$0.2095.

MBOX rose briefly above $0.19, with a 24-hour increase of 26.5%

BlockBeats news, on August 29, according to HTX market data, MBOX rose briefly above $0.19 and is currently quoted at $0.1871, a 24-hour increase of 26.5%.

Neiro on Ethereum chain breaks through $0.00008, 41.02% increase in 24 hours

BlockBeats news, on August 29, according to market data, Neiro on Ethereum chain broke through $0.00008, and is now quoted at $0.00008157, 41.02% increase in 24 hours.

BlockBeats reminds users that meme coins have no actual use cases, and prices fluctuate greatly, so investment should be cautious.

FLOKI breaks through $0.00015, up more than 9% in 24 hours

BlockBeats news, on August 29, according to HTX market data, FLOKI broke through $0.00015, and is now quoted at $0.00015717, up 9.31% in 24 hours.

If Bitcoin breaks through $61,000, the cumulative short order liquidation strength of mainstream CEX will reach 1.205 billion

BlockBeats news, on August 29, according to Coinglass data, if Bitcoin breaks through $61,000, the cumulative short order liquidation strength of mainstream CEX will reach 1.205 billion;

If Bitcoin falls below $58,000, the cumulative long order liquidation strength of mainstream CEX will reach 846 million.

BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of the contracts to be liquidated. The columns on the liquidation chart actually show the importance of each liquidation cluster relative to the adjacent liquidation clusters, that is, the strength.

Therefore, the liquidation chart shows the extent to which the underlying price will be affected when it reaches a certain position. A higher "liquidation column" means that the price will react more strongly to the liquidity wave after it reaches it.

The transaction volume of the prediction market platform Polymarket in August has exceeded 430 million US dollars, setting a monthly record high

BlockBeats news, on August 29, according to Dune data information, the transaction volume of the prediction market platform Polymarket in August has reached 436 million US dollars, setting a monthly record high.

Binance will launch CHESS 1-75 times U-based contracts

BlockBeats news, on August 29, according to official news, Binance will launch CHESS 1-75 times U-based contracts.

Coinbase International has launched RENDER, SAGA and T perpetual contracts

BlockBeats news, on August 29, according to official news, Coinbase International and Coinbase Advanced have launched RENDER, SAGA and T perpetual contracts, and limit, market, take profit and stop loss orders are now all available.

Nvidia's pre-market decline in US stocks narrowed to 1.5%

BlockBeats reported that on August 29, according to market data, Nvidia's pre-market decline in U.S. stocks narrowed to 1.5%, after a decline of nearly 5%.

OpenSea responds: SEC believes NFT is a security, and the platform will provide $5 million in legal aid to NFT authors

BlockBeats news, on August 28, OpenSea CEO Devin Finzer responded on social media to "OpenSea received a Wells notice issued by the SEC":

"OpenSea received a Wells notice from the U.S. Securities and Exchange Commission, threatening to sue us because they believe the NFTs on our platform are securities. We are shocked that the SEC will take such a large-scale action against creators and artists. But we are ready to stand up and fight.

By targeting NFTs, the SEC will stifle innovation on a larger scale: hundreds of thousands of online artists and creative people are at risk, and many do not have the resources to defend themselves. NFT Essentially creative goods: artwork, collectibles, video game items, domain names, event tickets, etc. The SEC should not regulate digital art the same way it regulates collateralized debt obligations.

In addition to sticking to its position, OpenSea also pledged $5 million to help cover the legal costs of NFT creators and developers who received Wells' notice. Every creator, big or small, should be able to innovate without fear. I hope the SEC will wake up sooner rather than later and listen with an open mind. Until then, we will stand up and fight for our industry. Keep going. "

Jupiter announced that spot trading has integrated pump.fun, and you can trade after searching for CA

BlockBeats news, on August 29, Jupiter announced that its spot trading has integrated pump.fun and Moonshot, users can search for any token contract address (CA) and start trading immediately, using a full set of spot trading tools including limit orders, DCA and value averages.

Solana Labs announces that the second phase of the incubator Solana Incubator is now open

BlockBeats news, August 29, according to official news, Solana Labs announced that the second phase of the incubator Solana Incubator application is now open, the application deadline is October 4, and 4 to 6 high-quality teams will be selected to work directly with Solana Labs in New York City from January to April 2025 to meet their specific needs, including participation in blockchain development, design and product launch planning, fundraising support and venture capital introductions.

Telegram founder released on-site photos disclosed

BlockBeats news, August 29, according to Russian News Agency, Telegram founder Pavel Durov spent more than eight hours in a French court, and then the Paris Prosecutor's Office announced that he could be released after paying bail. Later, a motorcade drove out of the courthouse, but it was soon discovered that the Telegram founder himself was not in the car.

Finally, Durov left the building an hour later, but not through the main entrance of the court, where journalists gathered, but through a side door. There a private minibus was waiting for him, and there were security personnel and probably his lawyers.

Before leaving, the entrepreneur put on a baseball cap and sunglasses. He did not comment and quickly got on the minibus. After the men accompanying Durov carried and loaded the items into the car, the minibus quickly drove towards the Paris ring road.

Informed sources: Pantera invested in TON tokens at 60% off the market price in May, with a 1-year lock-up period

BlockBeats news, on August 29, according to Bloomberg, venture capital institutions that invested in Toncoin (usually signed an agreement not to sell for at least a year) are now trying to assess whether France's move against Pavel Durov will cause users to flee Telegram.

Informed sources said Pantera bought TON at 40% below the market price at the time. The person familiar with the matter requested anonymity because the terms were confidential. Based on the average price of $6.32 when the transaction was announced in May, the investment can still be easily profitable. The insider also revealed that Pantera's lock-up period is one year, after which it can sell TON in batches over several years.

In addition, Bloomberg said that Pantera called Toncoin its largest investment, but did not disclose the specific amount. The TON Foundation said in an email that the foundation has never raised funds. Animoca Brands did not comment on its investment, and Mirana Ventures did not immediately respond to inquiries.

BlockBeats previously reported that Pantera Capital announced its investment in TON on May 2 this year. Founder Dan Morehead said that its investment in Telegram's TON blockchain project was the largest investment in the fund's history. Some analysts said that its investment amount will be at least more than 250 million US dollars.

Analysis: The current altcoins follow the trend of Bitcoin as a whole, indicating that the market is stable in the short term

BlockBeats news, on August 29, CryptoQuant analyst Joao Wedson posted on social media that there is currently a positive correlation between altcoins and Bitcoin. This behavior shows the consistency of the encryption market. Altcoins move synchronously with Bitcoin, reflecting investors' confidence in the entire market.

A historical fact worth noting is that when the Average Altcoin Correlation tends to be negative, this has historically been a warning sign for Bitcoin and the entire market. This negative correlation usually occurs when altcoins perform significantly better than Bitcoin, usually before the price of Bitcoin falls, and investors often need to be cautious.

At present, overall, altcoins still show positive correlation, indicating that despite individual differences, they all follow the trend of Bitcoin. This behavior reinforces the view that the current market is stable in the short term, but it is also necessary to remain vigilant to identify potential deviations that may indicate higher risks.

QCP Capital: Market volatility is expected to continue to decline before the release of the non-farm payroll report next week, and the US GDP data tonight may have limited impact on the crypto market

BlockBeats news, on August 29, QCP Capital's latest report pointed out that Nvidia's financial report last night triggered a classic "Sell The News" reaction, and the crypto market was affected today. The price of Bitcoin fell back to $59,000, and Ethereum also performed weakly, hovering around $2,500.

Front-end volatility surged overnight after spot prices fell, but then retreated following Nvidia's earnings report, down about 10 volatility ticks from the peak. Risk reversals into October remain in favor of puts, suggesting the market remains cautious about downside risk.

Ahead of next week's non-farm payrolls report, we expect market volatility to continue to decline as markets position for a possible rate cut from the Federal Reserve. Tonight's US GDP report may not have a significant impact on the crypto market, especially if it further supports the ongoing narrative of a slowing US economy.

Broker Canaccord: The crypto industry has recovered from the FTX collapse, and institutions are expected to increase their allocation to cryptocurrencies

BlockBeats news, August 29, according to CoinDesk, broker Canaccord said in a research report on Wednesday that the crypto industry has recovered from the collapse of FTX in November 2022 and resumed growth over the past year. The launch of spot ETFs in the United States has led to a wider adoption of crypto assets by institutions, and institutional allocations to cryptocurrencies are expected to increase.