Global stock markets fell into a panic on August 5, with Japan's Nikkei falling 12%, its biggest one-day drop since 1987, and the S&P 500 closing down 3%.
Unfortunately, Bitcoin was not immune, plunging 14.52% between August 2 and August 5. The sharp pullback has raised a lot of questions in the media: why did Bitcoin fail as a hedging tool? Is Bitcoin really a hedge asset?
Blast Ecosystem DEX MonoSwap disclosed on the X platform that the platform had been hacked, reminding users not to add liquidity or pledge. If there are any pledged positions, please withdraw them immediately to avoid capital losses.
According to Bitget, Bitcoin fell below 69000 USDT in the wee hours of the morning and has now rebounded to 69399 USDT, down 2.04% on the day.
Etherfang fell below 3600 USDT in the early morning and rebounded to 3688 USDT, down 3.13% on the day.
Affected by BTC, other counterfeit coins ushered in general decline.
Horizen Labs, a developer of Web3 tools, recently announced the launch of modular blockchain zkVerify, which focuses on optimizing zero-knowledge proof verification for settlement and uses a modular architecture to reduce the cost of verification on Bitcoin and Ethernet Square by 91%.
Adam, a macro researcher at Greeks.live, said in a post on the X platform that the trading volume of the encryption market dropped significantly this week, and the low levels of Bitcoin and Ethernet Square fluctuated. The weakness of the market led to a sharp decline in IV in all major terms. Dvol has fallen by as much as 15% since it was halved, and the halving failed to bring volatility, leading to the acceleration of a large number of option sellers.
According to OKX, the over-the-counter purchase price of USDT is now 7.50 yuan, the sale price is 7.49 yuan, and the current exchange rate between the US dollar and RMB is 7.24 yuan.
The Anza team tested patches for current network congestion yesterday.
Officials say the core issues are related to the QUIC implementation and the behavior of the Agave validator client when handling a large number of requests, and the team will introduce more improvements and changes in the coming months.
Ethena Labs has added support for bitcoin as a collateral asset for USDe, with Ethena hedging positions accounting for about 20 per cent of ETH's open positions as of this writing.
Yesterday, the spot ETF with the largest daily net inflow of bitcoin was Fidelity ETF FBTC, with a daily net inflow of about $ 155 million. At present, the total historical net inflow of FBTC is $ 6.87 billion.
Uniswap Labs announced that the limit order is now available in the Uniswap Web app with zero cost, no minimum transaction size, and no escrow funds.
If the order is not completed within the set time, it will expire and the transaction will never be executed.