After the release of non-farm payrolls data, US stock index futures rallied sharply.

According to official announcements, USDC has been natively deployed on X Layer, and OKX Wallet has simultaneously rolled out support for X Layer’s native USDC. Users can send, receive, pay with, and conduct on-chain transactions using USDC directly within OKX Wallet, while 1:1 non-loss cross-chain transfers via CCTP further boost cross-chain fund flow efficiency. Additionally, X Layer’s native USDC can directly interact with on-chain applications such as DeFi in the X Layer ecosystem, enabling seamless asset transfers across multi-chain environments for users.

Bitcoin rallied around the release of today's non-farm payroll (NFP) data. The whale going by the alias "Set 10 Big Targets" has showcased gains from his recent Bitcoin long positions; attached screenshots show he opened positions below $64,000, with unrealized profits exceeding $4 million.

US July non-farm payrolls posted an unexpected decline, prompting traders to trim bets on Federal Reserve interest rate hikes, while US stocks opened broadly higher. The Nasdaq rose 0.77% at the open, the S&P 500 gained 0.33%, and the Dow added 0.10%. According to market data from BIT (bit.com), some storage concept stocks advanced at the open, with SanDisk up over 3%. Optical communication concept stocks rallied broadly: optical module manufacturer AAOI jumped more than 7%, with the company forecasting its production capacity will expand 10-fold in two years, and its 1.6T products could secure major customer certification in as little as two weeks; Coherent rose over 9%. Among chip stocks, SK Hynix fell 1.64% while Micron gained 1.19%. Storage stocks and neocloud-related stocks mostly rose in tandem, with SNDK up 3.21% and NBIS up 1.16%. Additionally, Cloudflare climbed 11.5% to hit a record high, after the firm raised its annual revenue forecast earlier.

The 1600BTC-short trader closed another 500 $BTC ($32.58M) to avoid liquidation. The total loss has now exceeded $1.5M. Current position: 900 $BTC($58.6M) New liquidation price: $64,998.73

After a month of inactivity, Royal Government of Bhutan sold another 434.87 $BTC ($27.93M).

SharpLink co-founder Joseph Chalom has published a statement opposing Ethereum’s EIP-8361 proposal, dubbed “Tapered Issuance Burn”. He notes that the proposal would drastically reduce network staking rewards: as Ethereum’s staking ratio rises, validator rewards would be gradually burned, falling to zero when staked ETH reaches roughly half of the total supply. At that point, validators would only be able to operate on transaction tips, which currently make up around 15% of total rewards. Chalom warns this would weaken the DeFi ecosystem, erode ETH’s native yield advantage over Bitcoin, raise on-chain capital costs, and push some small and medium-sized staking operators out of the market. Chalom argues the proposal is particularly ill-timed, as Ethereum is currently seeing massive institutional adoption: examples include Robinhood building a new chain on Ethereum’s layer 2 network, BlackRock tokenizing its money market fund shares on-chain, and BNY Mellon integrating staking services into its custody platform via a partnership with Galaxy Digital. He states that SharpLink agrees ETH should become more scarce over time, but advocates achieving this goal through the existing base fee burn mechanism, rather than making fundamental changes to the protocol’s economic foundation at this stage. EIP-8361 calls for gradually increasing the burn rate of validator rewards as Ethereum’s staking ratio rises, bringing net issuance rewards on the consensus layer to zero when roughly 50% of ETH supply is staked, in order to eliminate incentives for further staking.