In the past 24 hours, there have been liquidations totaling $545 million across the network, with the largest single liquidation reaching $4.4537 million.

On August 3rd, the communication platform Towns Protocol disclosed the tokenomics as follows: The total supply of the TOWNS token is 10 billion. More than 10% of the tokens are planned to be airdropped to early users, partners, and launch collaborators on August 5th. In a previous announcement, Binance Alpha will list Towns (TOWNS) on August 5th.

August 3rd. Today, numerous overseas media and KOLs, such as Kalshi, First Squawk, and The ETF Store President Nate Geraci, reported on the so-called "China Just Announced Officially Banning Cryptocurrency Trading and Mining" news. BlockBeats has obtained information from multiple sources that up to now, there has been no recent ban announced. In fact, as early as May 19, 2021, China had already completely prohibited cryptocurrency mining activities.

On August 3rd, according to HTX market data, several altcoins witnessed significant growth along with the market's rebound. These include: CFX surged by more than 5% in the past 2 hours and is currently trading at $0.2009; RSC achieved a 22.9% increase in the past 24 hours and is now trading at $0.6493; TROLL saw a 19.1% increase in the past 24 hours and is now trading at $0.08076.

August 3rd. Ted Hui, a member of the Hong Kong Legislative Council, stated in an interview that the core characteristic of a fiat-backed stablecoin is that it must be backed by highly liquid fiat reserves at a rate of 100%. Currently, the main function of a fiat-backed stablecoin is still international payments, and there is no chance for speculation. During the formulation of the "Stablecoin Regulations", references were made to the United States, Japan, and the EU's MiCA (Markets in Crypto-Assets) regulation, as well as Singapore's Payment Service Act (PSA). The legislation takes into account international circulation and demand and adheres to both international and national standards. Additionally, Hui also mentioned that Hong Kong's stablecoin should not compete for market share with existing products but should explore new markets. (Daily Economic News)

August 3rd. Based on Coinglass data, on August 1st, the total liquidation of long positions across the entire network reached $9.222 billion, which was the largest day for long liquidation since February 25th of this year. It is worthy of note that after February 25th, the market entered a consolidation phase that lasted for more than two months.

On August 3rd, based on LookOnChain's monitoring, Whale 0xab15 established a 40x leveraged long position in Bitcoin. The position value was 400 BTC (equivalent to $45.37 million), and a take-profit price was set at $125,000.