AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
The SPX index was up by 0.08%, influenced by anticipation of significant earnings reports from tech giants like Microsoft, Apple, Meta, and Amazon, a Federal Reserve policy decision, and the upcoming US labor data. The broader cryptocurrency market was mixed, with Bitcoin dropping by 1.26% and Ether rising by 1.98%, in the past 24 hours.
Today's top performer is MKR, which surged 2.5% following the approval of the transition to LITE-PSM-USDC-A with updated protocol parameters by Maker Governance.
MakerDAO (MKR), created in 2015, is a DeFi protocol on Ethereum, maintaining the stablecoin DAI, pegged to the U.S. dollar. Maker Governance has passed a new executive vote effective July 30th, 2024, initiating the transition from PSM-USDC-A to LITE-PSM-USDC-A within the Maker Protocol. This includes migrating 20 million USDC, adjusting financial thresholds like a 50 million DAI debt ceiling, and reducing the GSM pause delay to 16 hours. Enhancements also involve updating Chainlog entries and activating a Spark Proxy Spell for a new Morpho market. This transition aims to refine operational parameters and enhance protocol efficiencies.
A U.S. Department of Justice-affiliated crypto wallet transferred $2 billion worth of confiscated bitcoin, originally seized from Silk Road, to an unidentified wallet. The transaction involved nearly 28,000 bitcoins, which were subsequently divided between two addresses—19,800 bitcoins in one and 10,000 in another. Arkham Intelligence suggests the 10,000 bitcoin transfer could be a deposit to an institutional custody service. Additionally, the U.S. government's crypto holdings still exceed $12 billion in value. This transfer follows a history of similar actions, including a previous transaction of 2,000 BTC to a Coinbase Prime hot wallet managed under a $32.5 million custodial contract with the U.S. Marshals Service.
Category | Flow (millions) |
GBTC | (54.3) |
Non-GBTC | (27.2) |
Total | (81.5) |
A U.S. Department of Justice-linked wallet transferred $2 billion in bitcoin seized from Silk Road into two separate addresses. This move coincided with Bitcoin's price retreating from above $70k to around $66k. The U.S. still holds over $12 billion in Bitcoin assets.
Farcaster users who joined before July 10th, 2024, can claim the $MOXIE airdrop. To claim, visit the provided link, check rewards, and complete the process. $MOXIE, a community-owned and governed protocol token, is currently trading at $0.012 on Kucoin and is vested until January 2025. For those not yet on Farcaster, a sign-up link is also available.