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Last week, the SPX index was down by 0.04%. The market experienced significant volatility, with initial heavy losses due to recession fears and issues in yen carry trades, but later recovered most of these losses. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 0.13% and 0.29%, respectively in the past 24 hours.
Today's top performer is SUI, which surged 4.8% after SuiNS transitions to decentralized governance with community-driven $NS token.
Sui Network (SUI), launched on May 3, 2023, is a Layer 1 blockchain designed by Mysten Labs to enhance web3 functionality and scalability, focusing on smart contract efficiency and NFT gaming development. The project is led by former Meta executives from the Novi digital wallet team. SuiNS, the primary name service for the Sui ecosystem, is transitioning to a decentralized model governed by its community through the $NS token. This move aims to enhance user experience by replacing complex Sui addresses with simple, memorable names, promoting easier interactions within the ecosystem. The decentralization involves distributing $NS tokens for governance and discounted name purchases: 57% to the treasury for operations, 28% to contributors and early backers, 10% to active community members, and 5% for future governance rewards. This shift not only improves accessibility and security but also aligns SuiNS with the principles of a community-driven public good.
BitGo announced the diversification of its Wrapped Bitcoin (WBTC) custody from the U.S. to Singapore and Hong Kong, involving a joint venture with BiT Global and a partnership with Tron's Justin Sun. Concerns raised by Block Analitica Labs about potential risks due to Sun's involvement were downplayed by BitGo CEO Mike Belshe, who assured that WBTC's security protocols remain unchanged. Belshe emphasized the continuity in technology and operational procedures, stating that the private keys are securely safeguarded and Sun's role does not grant him access to the funds. A MakerDAO executive vote on this matter is scheduled for August 12.
Check Out the Latest Prices, Charts, and Data of WBTC/USDT Spot!
Date | GBTC (M USD) | Non-GBTC (M USD) | Total (M USD) |
05 August 2024 | (69.1) | (99.3) | (168.4) |
06 August 2024 | (32.2) | (116.4) | (148.6) |
07 August 2024 | (30.6) | 75.7 | 45.1 |
08 August 2024 | (182.9) | 377.5 | 194.6 |
09 August 2024 | (77.0) | (12.7) | (89.7) |
Total (weekly) | (391.8) | 224.8 | (167) |
Total (inception-to-date): | (19,451) | 36,792 | 17,341 |
From August 5 to August 9, 2024, GBTC funds saw a total outflow of $391.8 million, while non-GBTC funds experienced an inflow of $224.8 million, resulting in a net outflow of $167 million over the five-day period. Despite these weekly flows, the overall positions show a substantial inflow of $36,792 million for non-GBTC funds, culminating in a net positive balance of $17,341 million.
Wilder World has launched a new airdrop campaign for its multiplayer metaverse, allowing participants to earn $WILD tokens by completing free tasks. The campaign, which is free to join, involves completing missions to collect shards that qualify users for the airdrop. The first phase of the campaign ends in mid-September, and tasks regenerate daily, offering more points the earlier you start. Interested participants can begin the process at Wilder World Odyssey and follow updates on their official Twitter page.