Crypto Morning Brief: Pump.fun has sold over 250,000 SOL; Vitalik states he has never sold ETH for personal profit
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Crypto Morning Brief: Pump.fun has sold over 250,000 SOL; Vitalik states he has never sold ETH for personal profit
Polymarket's August trading volume exceeds $460 million, surpassing the total volume of all-chain NFTs.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Weekend Market Update
Data: Bitcoin long-term holders accumulated 262,000 BTC in August; September market may break historical downtrend
According to a recent report by on-chain analytics platform Spot On Chain, despite September traditionally being viewed as a weak month for Bitcoin, this year could defy that trend. Data shows that long-term Bitcoin holders added 262,000 BTC to their holdings in August, bringing their total to 14.82 million BTC—75% of the total supply. Additionally, seven out of the top 10 anonymous Bitcoin wallets have been inactive for over two years, collectively holding 237,816 BTC worth approximately $14.04 billion, or 1.2% of the circulating supply. Meanwhile, major selling pressures from entities such as the German government and Mt. Gox were largely exhausted in July and August, with a combined sale of 170,917 BTC. Analysts suggest these factors, along with potential demand from Bitcoin ETFs, could positively impact Bitcoin's performance in September.
Vitalik: Has not sold Ethereum for personal profit since 2018
In response to trader Ansem’s comment on X that Vitalik created the second most important project in crypto history and thus has every right to take profits, Ethereum co-founder Vitalik Buterin replied, “I haven’t sold any ETH for personal gain since 2018. All sales were made to fund various initiatives I believe in—both within the Ethereum ecosystem and in charitable causes such as biomedical R&D.”
Data: Pump.fun has sold over 250,000 SOL at an average price of $158, totaling ~$40 million
According to lookonchain monitoring, Pump.fun’s total revenue has exceeded 680,000 SOL (approximately $91 million). The platform has already sold 254,074 SOL (around $40.26 million) at an average price of $158 per SOL.
Sui co-founder clarifies: Monthly SUI unlock amounts to only 2.6% of circulating supply, far below market speculation
Evan.sui, co-founder and CEO of Sui, addressed rumors claiming "SUI’s annual inflation exceeds 250%" on social media. He clarified that monthly unlocks represent only about 2.6% of the circulating supply—and this percentage is steadily decreasing. Evan emphasized that SUI is one of the few proof-of-stake (PoS) public blockchains with a fixed supply, contrasting sharply with most other chains that maintain annual inflation rates between 5% and 8%. He welcomed criticism, stating it plays a vital role in driving project improvement.
Telegram founder: Company has around 50 employees, engineers primarily from Ukraine
Telegram founder Pavel Durov revealed that the company has only about 50 employees, including 30 carefully vetted software engineers. Team members are selected through programming competitions, with winners invited to join. Most developers come from Ukraine. A source noted that Telegram staff are typically “super young Eastern Europeans” earning salaries of up to $500,000 annually.
Polymarket surpasses all-chain NFT volume with $463M in August trading volume
According to the latest data from The Block and CryptoSlam, decentralized prediction market Polymarket recorded $463 million in trading volume in August 2024, exceeding the total NFT trading volume across all blockchains during the same period ($377 million). With the 2024 U.S. presidential election approaching, Polymarket has seen continuous growth in active users since May. Current odds show Trump slightly ahead of Harris at 50% vs. 48%, with over $770 million wagered on this event alone.
DOGS to introduce two new token claim options to reduce network load and accelerate process
The DOGS team announced on its Telegram channel that starting September 2, two new token claim options will be added to the app for users who have not yet claimed their tokens:
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Faster withdrawal, requiring a small fee paid in DOGS;
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Slower withdrawal, with no transaction fees.
Upbit to support MATIC migration and swap to POL, deposits and withdrawals to be suspended on September 2
Upbit will support the migration and token swap from MATIC to POL. Deposits and withdrawals for MATIC are scheduled to be suspended on September 2 at 17:00 KST. Once the token migration and swap are completed and deposit/withdrawal stability is confirmed, a separate announcement will be issued regarding service resumption.
Coinbase developing a multi-functional SDK to empower bots and AI agents to execute cryptocurrency operations
Coinbase senior software engineer yuga.eth revealed on social media that the company is building a comprehensive software development kit (SDK). This SDK aims to equip bots and AI agents with multiple crypto-related capabilities, significantly expanding possibilities for automated trading and asset management.
According to yuga.eth, the SDK will support the following functionalities:
Free USDC transfers
Trading various cryptocurrencies
Participating in prediction markets
Staking ETH, SOL, and other crypto assets
Two-way conversion between fiat and cryptocurrencies
Deploying and creating NFTs
Asset bridging across L2 networks
Market Overview
Suggested Reading
Vitalik on DeFi Debate: Bridging the Communication Gap Between 1% Developers and 90% Traders
Don't Forget Solana Blink During the Break: Promising Projects Worth Watching
Paradigm: Community as Foundation—Five Principles for Building a Vibrant Crypto Community
Opensea Retrospective: What Did the Collapse of the NFT Market Bring?
From 'Black Myth: Wukong' to GameFi: When Will It Reach Enlightenment?
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