LianGuai Morning News | Crypto Risk Investments in August Less Than $500 Million, Hitting a Two and a Half Year Low


Data: 90% of Worldcoin holders are in a loss state

LianGuai reported that according to the charts from IntoTheBlock, Worldcoin (WLD) started off strong with 2,270 active addresses trading on July 24th. However, as of August 31st, this number has decreased to only 137 active wallet addresses. This means that network activity has dropped by 94%, and additionally, the WLD price has fallen below $1.20, putting 90% of WLD holders in a loss state.

Crypto venture capital in August falls below $500 million, reaching a two-and-a-half-year low

LianGuai reported that according to data from The Block Research, venture capital for crypto startups in August was less than $500 million, marking the fourth consecutive month of decline in funding in this field and the lowest monthly funding level recorded since January 2021. The Block Research’s recent report predicts that the level of venture capital in this industry for the third quarter of this year will be less than $2.5 billion, making it the worst since the fourth quarter of 2020. The funding for crypto startups was $13.5 billion in the first quarter of 2022.

Bitcoin and Ethereum quarterly trading volume may hit the lowest level since 2019

LianGuai reported that according to data from CoinGecko, the total spot trading volume of Bitcoin in this quarter so far is $721.1 billion. If the trading volume in September is the same as in July and August, it will mark the lowest level of quarterly trading volume since the first quarter of 2019. For most of the period from 2019 to 2023, quarterly trading volume has been above $2 trillion. In the past two months, the trading volume of Bitcoin was $345.89 billion and $354.84 billion, respectively. If conditions remain the same and the trading volume in September hovers around $350 billion, the quarterly trading volume will be close to $1.05 trillion. In July and August, the trading volume of ETH was $232.06 billion and $212.92 billion, respectively. If the trading volume of Ethereum in September reaches about $220 billion, its cumulative quarterly trading volume will be slightly higher than $650 billion, which is the lowest level since 2019. In the fourth quarter of 2019, the total spot trading volume of ETH reached $740.64 billion.


As of press time, according to coinmarketcap data:

The recent trading price of BTC is $25,773.50, with a daily change of -1.08%;

The recent trading price of ETH is $1,626.81, with a daily change of -1.38%;

The recent trading price of BNB is $213.30, with a daily change of -1.70%;

The recent trading price of XRP is $0.49788, with a daily change of -2.71%;

The recent trading price of DOGE is $0.063711, with a daily change of -0.02%;

The recent trading price of ADA is $0.2551, with a daily change of +0.25%;

The recent trading price of MATIC is $0.54, with a daily change of -1.64%.


UK cryptocurrency travel rules take effect, certain cryptocurrency transfers may be halted

According to LianGuai, cryptocurrency businesses in the UK can now start withholding certain cryptocurrency transfers to comply with the new cryptocurrency travel rules that took effect on September 1st. The rules for virtual asset service providers were introduced by the UK FCA on August 17th and ensure that UK-based VASPs collect, verify, and share information related to the transfer of cryptocurrency assets. If individuals or entities from overseas jurisdictions that have not implemented travel rules receive inbound payments, VASPs must conduct a “risk-based assessment” on whether to provide cryptocurrency assets to the beneficiary.

China Central Depository & Clearing Co. officially releases the enterprise standard for “Blockchain Digital Bond Issuance Platform Specification”

According to LianGuai, China Central Depository & Clearing Co. has officially released the enterprise standard for “Blockchain Digital Bond Issuance Platform Specification” (Q/CCDC 00009—2023). The standard mainly defines the related terms, basic requirements, platform architecture, functional requirements, data requirements, performance requirements, security requirements, and maintainability requirements of the blockchain digital bond issuance platform. It is applicable to digital bond issuance platforms built on blockchain technology.

China People’s Court Daily: Virtual currency is legal property and is protected by law

According to LianGuai, China People’s Court Daily has released an article titled “Recognition of the Property Nature of Virtual Currency and Disposal of Property Involved in Cases”, which analyzes the criminal law attributes of virtual currency and states that virtual currency has economic attributes and can be classified as property. The current legal policy does not classify virtual currency as illegal goods, so under the current legal policy framework, virtual currency held by relevant entities in our country is still legal property and is protected by law. The article suggests handling property involved in cases from the perspective of legality. In my opinion, for criminal activities involving virtual currency, the property involved should not be uniformly confiscated or returned, but should be treated differently based on the unified basis of criminal and civil legal order, in order to achieve a balanced protection of personal property rights and social public interests.

Blockchain Applications

Taiwan introduces the first electronic product detection dog that can identify cold wallets of virtual currency

According to LianGuai, Taiwan has trained the first electronic product detection dog (K9 ESD) through contact with the non-profit organization Operation Underground Railroad, and named it Wafer. The electronic product detection dog is expected to start working on September 11th, mainly searching for hidden electronic storage devices at crime scenes, including cold wallets of virtual currency. It is reported that most electronic product detection dogs in the United States are named after electronic products, and one of them is named Satoshi, paying tribute to the inventor of Bitcoin, “Satoshi Nakamoto”. (Trustnews)


Bitcoin On-Chain NFT Sales Decline Significantly in August, Reaching a New Low Since March

According to the latest data from CryptoSlam, Bitcoin on-chain NFT sales in August have seen a significant decline, reaching approximately $11.85 million, an 81.7% decrease compared to July’s $64.9 million, marking a new low since March 2023. In addition, there were about 53,000 transactions for Bitcoin on-chain NFT sales in August, with 14,888 unique buyers and 11,614 unique sellers.

Data: Ethereum On-Chain NFT Sales in August Hit a Record Low of $226 Million since July 2021

According to data from CryptoSlam, Ethereum on-chain NFT sales in August amounted to approximately $226 million, marking a record low since July 2021. Additionally, there were 1,083,115 transactions for Ethereum on-chain NFT sales in August, with 140,881 unique buyers and 113,211 unique sellers.

BUSD‘s Total Market Cap Falls Below $3 Billion, Shrinking Over 70% in the Past Six Months

According to CoinGecko, the total market cap of the Binance USD (BUSD) stablecoin has fallen below $3 billion, currently standing at around $2.97 billion, marking a decrease of over 70% in the past six months. Previously reported by LianGuai, Binance announced that it will gradually stop supporting BUSD and reminded users to convert BUSD to other stablecoins before February 2024.

Ripple‘s Development Team Proposes Major Modifications to the XRP Ledger

According to LianGuai, Ripple’s development team, RippleX, has proposed major modifications to the XRP Ledger (XRPL) in order to enhance trust and security. This feature, appropriately named “Clawback,” aims to provide issuers with enhanced control over their distributed assets, addressing regulatory requirements and unforeseen challenges.

Data: Over 40,000 ENS Domain Name Registrations in August, a 32.6% Increase Month-on-Month

According to Dune data, there were 41,153 new ENS domain name registrations in August, a 32.6% increase compared to July (31,029). The number of new participating addresses reached 18,519, with 17,960 of them being main domain names. As of the time of writing, the total number of active ENS domain names is approximately 2.58 million, with a total of 742,118 unique participating addresses and over 600,000 main domain names.

Important Economic News

US Non-Farm Payrolls Increase by 187,000 in August, Exceeding Market Expectations

LianGuai report, the US non-farm payroll employment increased by 187,000 in August, with an estimated increase of 170,000 and a previous value of an increase of 187,000. The US unemployment rate in August was 3.8%, hitting a new high since February last year, with an expected rate of 3.50% and a previous value of 3.50%.

LianGuai Encyclopedia

Cold Storage

This term refers to the offline storage of bitcoins. When the private key of bitcoins is created and stored in a secure offline environment, cold storage is achieved. Cold storage is important for any bitcoin holder. Online computers are vulnerable to hackers and should not be used to store a large amount of bitcoins.

Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and should not be considered as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.

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