Crypto Morning News: Telegram founder arrested, institutions believe 25 bps cut likely for first rate cut in September
TechFlow Selected TechFlow Selected
Crypto Morning News: Telegram founder arrested, institutions believe 25 bps cut likely for first rate cut in September
OP, SUI, DYDX and others will see large token unlocks this week, with SUI unlocking approximately $65.09 million.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Mt. Gox Bitcoin Holdings Drop by Approximately 77%
According to Arkham monitoring, since early 2021, the Mt. Gox wallet has held a total of 141,690 bitcoins, reaching a peak market value of $10.12 billion in March 2024. Currently, the Mt. Gox wallet holds 32,900 bitcoins (approximately $2.11 billion), about 23% of its holdings at the beginning of 2021, representing a reduction of roughly 77%.
1confirmation: Ethereum Market Cap Expected to Surpass Bitcoin's Within 5 Years; DeFi and NFTs Set for Comeback
Crypto investment firm 1confirmation released its Q2 LP letter, in which founder Nick Tomaino stated that Ethereum's market capitalization will surpass Bitcoin's within the next five years. Currently, Bitcoin’s market cap is four times that of Ethereum, and while both will continue growing, Ethereum will eventually overtake Bitcoin. Bitcoin has a clear narrative—digital gold—and institutions have already accepted and started buying it. Ethereum, however, has been the most influential blockchain over the past five years, yet ETH remains poorly understood. Ethereum is scarce, generates yield, and has real-world use cases. Given its significantly smaller market cap compared to Bitcoin, there’s ample room for Wall Street to accumulate. It is expected that Wall Street will continue buying and heavily promote Ethereum globally in the coming years.
CITIC Securities: Following Powell's Speech, Maintains Forecast of 25bps Rate Cut in September
CITIC Securities released a research report stating that Federal Reserve Chair Jerome Powell's speech at the 2024 Jackson Hole Global Central Bank Symposium carried strong signals of a turning point, indicating that "the time for policy adjustment has arrived," almost officially confirming a rate cut in September. Powell's assessment of the economy still leans toward a "soft landing," noting that the current labor market is not as tight as it was in 2019. After Powell’s speech, U.S. equity markets clearly reflected a "soft landing" trading pattern. At this juncture, CITIC Securities maintains its previous forecast: the Fed is expected to implement its first 25bps rate cut at the September FOMC meeting, with 50–75bps of easing anticipated for the full year. Investors should remain cautious about potential asset price corrections arising from excessive market pricing of Fed rate cuts.
DOGS: CEX and Telegram Wallet Claim Functions Now Closed
The Telegram-native meme project DOGS announced in its community: "The claim functions on CEXs and Telegram wallets are now closed. If you missed claiming, you can still claim tokens on-chain by connecting your wallet through the application to ensure smooth processing."
Telegram Co-Founder and CEO Pavel Durov Arrested in France; TON Community Pledges Full Continuation of Operations
Telegram co-founder and CEO Pavel Durov has been arrested in France. Durov was taken into custody by France’s National Anti-Fraud Office upon arriving in France via private jet from Azerbaijan. The arrest reportedly relates to illegal activities on the Telegram platform, including alleged facilitation of terrorism, drug trafficking, sale of stolen goods, and fraud. In response to the news of Pavel Durov’s arrest, the TON community issued a statement affirming that operations will continue fully and uninterrupted.
Vitalik Responds to Telegram Founder's Arrest: Future of Software and Communication Freedom in Europe Looks Worrisome
In response to the arrest of Telegram's founder, Vitalik commented on X: "I’ve previously criticized Telegram for not taking encryption seriously enough. However, based on currently available information—the charges appear to be merely about being 'unregulated,' without evidence of leaking user data—the arrest of the founder looks very troubling and raises serious concerns about the future of software and communication freedom in Europe."
TON Adds Resistance Dog Logo to X Profile Picture
The official TON Twitter account has added the Resistance Dog (REDO) logo—a hand-drawn emblem by Telegram founder Pavel Durov from 2018—to its profile picture. Possibly influenced by TON’s social media avatar change, Resistance Dog (REDO) surged over 60% yesterday.
OP, SUI, DYDX Among Projects Facing Major Token Unlocks This Week; SUI to Unlock ~$65.09 Million
According to Token Unlocks data, multiple projects including OP, SUI, and DYDX will experience significant one-time token unlocks next week:
Yield Guild Games will unlock 14.08 million YGG tokens worth approximately $6.76 million on August 27, representing 3.7% of circulating supply;
SingularityNET will unlock 8.32 million AGIX tokens worth approximately $4.28 million on August 28, representing 1.58% of circulating supply;
Optimism will unlock 31.34 million OP tokens worth approximately $50.46 million on August 31, representing 2.64% of circulating supply; Echelon Prime will unlock 750,000 PRIME tokens worth approximately $5.37 million on August 31, representing 1.68% of circulating supply; Manta Network will unlock 1.87 million MANTA tokens worth approximately $1.51 million on August 31, representing 0.5% of circulating supply; dydx will unlock 8.33 million DYDX tokens worth approximately $9.75 million on September 1, representing 3.67% of circulating supply;
Sui will unlock 64.19 million SUI tokens worth approximately $65.09 million on September 1, representing 2.47% of circulating supply;
Zetachain will unlock 53.89 million ZETA tokens worth approximately $33.05 million on September 1, representing 15.71% of circulating supply; Ethena will unlock 14.89 million ENA tokens worth approximately $5.36 million on September 1, representing 0.82% of circulating supply.
Market Updates
Recommended Reading Today
The Babylon War Rages On: Bedrock Takes the Lead—Will uniBTC Spark a BTC LRT Boom?
Powell: Now Is the Time for Policy Adjustment
Multicoin: 7 Factors to Consider When Evaluating Blockchain Collectibles Markets (BECM)
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
深潮TechFlow
