许正宇: Hong Kong Stablecoin Offers No Speculative Opportunities, Aims to Enhance Economic Efficiency

August 24th. Catizen's global Web3 game Capybobo made its debut at the Tokyo LINE NEXT & BGW Festa. It delivered a keynote speech and shared its new endeavors in integrating gaming with trendy toys and facilitating online-offline interactions. At the event venue, the Capybobo booth presented a wide range of exquisite gifts from the Catizen ecosystem. Notably, the PYBOBO limited skin doll outfit paired with the Labubu figurine stood out as the highlight of the entire event, winning enthusiastic acclaim from the audience. Many players managed to obtain this special set at the event, truly experiencing the unique charm of integrating virtual creativity with physical trendy toys, which kept the event atmosphere vibrant and cheerful.

On August 24th, billionaire Peter Thiel is placing a bet that Ethereum will become the preferred platform for Real-World Assets (RWA) on Wall Street. His investment firm, Founders Fund, has made significant investments in Ethereum-related assets and has invested in multiple companies that hold Ethereum as a treasury reserve asset, such as ETHZilla and Bitmine. Peter Thiel's investment thesis for Ethereum is based on the notion that if Ethereum can serve as an alternative channel for settling USD, stocks, and other assets outside of the traditional financial system, then its native token will gain substantially from increased network activity.

On August 24th, according to Cointelegraph, ETH has witnessed a surge of 15,240 times since its 2014 ICO.

On August 24th, based on alternative data, the Fear and Greed Index of cryptocurrencies today is 53 (yesterday it was 60), suggesting a "Neutral" market state. Note: The threshold of the Fear Index is 0-100, and it includes indicators such as Volatility (25%) + Market Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin's Dominance (10%) + Google Trends Analysis (10%).

On August 24th, based on Coinglass data, if Bitcoin drops below $113,000, the cumulative long liquidation intensity of mainstream CEXs will reach $1.297 billion. Conversely, if Bitcoin goes above $116,000, the cumulative short liquidation intensity of mainstream CEXs will reach $423 million. BlockBeats Note: The liquidation chart does not accurately display the number of contracts awaiting liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the relative significance of each liquidation cluster to adjacent liquidation clusters, that is, intensity. Therefore, the liquidation chart shows to what degree the price of the asset will be affected when it reaches a certain level. A higher "liquidation bar" indicates that the price, once reached, will experience a more intense reaction due to a liquidity cascade.

On August 24th, Coinbase's CEO, Brian Armstrong, posted a photo on the X platform 13 hours ago. In the photo, it shows his purchase of 4,964,005 BALAJIS, which is currently worth approximately $40,000. BALAJIS was created through the Zora platform. It is a meme concept coin named after Balaji Srinivasan, who was formerly Coinbase's CTO and an angel investor. It is reported that the current market value of BALAJIS is $8.21 million, and the 24-hour trading volume is $166,500.