TL;DR

• BTC rebounds above $60,000, with BTC and ETH prices continuing to fluctuate.
• The BTC buy-sell ratio is positive, and the BTC/ETH long-short ratio in the market is predominantly long.
• The U.S. Final Demand Producer Price Index (PPI) for July rose by 0.1%, falling below market expectations.
• The BitGo wallet may have transferred $2 billion worth of Mt. Gox Bitcoin assets.
• The Aethir Foundation has introduced a new channel for community rewards claims.

Market Review

According to Gate.io, as of 2:00 AM (UTC +0) on August 14 [1]:

• BTC —— Over the past 24 hours, BTC increased by 2.24%, reaching a high of $61,570.6 and a low of $58,423.1. Following a volatile weekend correction, BTC rebounded slightly, fluctuating between $58,400 and $61,500 throughout the day [2].
• ETH —— ETH saw a 0.09% increase over the past 24 hours, with a high of $2,734.20 and a low of $2,610.63. Prices fluctuated between $2,600 and $2,750 during the day [3].
• ETFs —— As of August 13, U.S. Bitcoin spot ETFs had a net inflow of $38.94 million. GBTC and ARKB experienced net outflows of $28.6 million and $6.1 million, respectively, while IBIT, FBTC, and BITB saw net inflows of $34.6 million, $22.6 million, and $16.5 million. Ethereum spot ETFs had a net inflow of $24.34 million, primarily due to ETHA’s net inflow exceeding $49 million [4].
• Top Sectors —— In the past 24 hours, the top-performing sectors were Bridge Governance Tokens (+6.60%), Bitcoin Sidechains (+5.70%), and Stablecoin Protocols (+5.30%). The sectors with the largest declines were TokenFi Launchpad (-2.80%), Binance Launchpool (-2.30%), and Elon Musk-Inspired (-2.00%) [5].
• Major U.S. Indices —— Yesterday, the Dow Jones Index rose by 1.04%, the S&P 500 Index increased by 1.69%, and the Nasdaq Index climbed by 2.50% [6].
• Spot Gold —— As of 2:00 AM (UTC +0) on August 14, spot gold prices rose to $2,465.39 per ounce, marking a 0.01% daily increase [7].

Top Performers

According to Gate.io, the hottest tokens in the past 24 hours, excluding BTC and ETH, with the top three daily price increases and a total market cap greater than $30 million, are AGG, BCCOIN, and RUNECOIN [8]:

AGG —— The price of AGG skyrocketed by 88.07% to $0.000204 today, with a 24-hour trading volume of $6.68 million. AGG is an innovative platform for Web3 gaming and IP entertainment, offering a comprehensive ecosystem that includes versatile utilities for NFT trading, season pass acquisition, INO participation, early access to new content, and the creation of personal digital display spaces. As a pioneer in blockchain gaming guilds, AGG boasts a robust network of strategic partners and a well-thought-out tokenomics model. It has established extensive business relationships with numerous global companies, enhanced strategic collaborations, and achieved significant milestones in the energy sector, earning high recognition and anticipation from its partners. \

BCCOIN —— BCCOIN surged by 75.25% to $2.777 today, with a 24-hour trading volume of $2.1476 million. As a pioneer in financial innovation, BlackCardCoin has launched the world’s first unrestricted crypto credit card. Highlights of the credit card include unlimited spending and withdrawals, 10% instant cashback, and complete financial autonomy, aiming to provide users with a flexible and convenient spending experience.

RUNECOIN —— RUNECOIN rose by 37.99% to $0.005389 today, with a 24-hour trading volume of $536,200. RSIC•GENESIS•RUNE (RUNECOIN) is built on the Runes Protocol and was the first Pre-Rune airdropped to early adopters of Ordinals. As the 8th rune in the Runes Protocol, RUNECOIN is a flagship project in the rune track, boasting over 360,000 followers on the X platform. On August 10, RUNECOIN announced on social media plans to launch Season 2 airdrops, leading to a price increase of over 90% within a week.

Futures Market

BTC Buy-Sell Ratio
As of 4:00 AM (UTC +0) on August 14, the total value of liquidated contracts across the network in the past 24 hours was approximately $82.159 million, with short contract liquidations amounting to around $47.274 million. The Bitcoin buy-sell ratio was approximately 1.06, indicating that market participants are optimistic about Bitcoin’s short-term price trend [9].

Contract Long-Short Ratio

As of 4:00 AM (UTC +0) on August 14, the weighted funding rate for Bitcoin positions was -0.0021%, while for Ethereum positions, it was 0.0021%. Over the past 24 hours, the long-short ratio for Bitcoin and Ethereum contracts across the network has predominantly been long [10].

Spotlight Analysis

Tether Treasury Mints 1 Billion USDT on Ethereum
According to Etherscan data, Tether Treasury minted 1 billion USDT on the Ethereum blockchain on August 13 at 12:09 UTC+0 [11]. Tether CEO Paolo Ardoino stated that the 1 billion USDT has been authorized for issuance but has not yet been released into circulation. The minting of new USDT typically aims to enhance market liquidity, potentially leading to a market uptrend [12].

BitGo Wallet Transfers $2 Billion Worth of Mt. Gox Bitcoin
Recent monitoring data from Arkham Intelligence revealed that a wallet, presumably belonging to BitGo (address: bc1q26), received $2.19 billion worth of Bitcoin from Mt. Gox on August 13 and subsequently conducted test transactions. A few hours later, the wallet transferred nearly $2 billion worth of Bitcoin to another address. This transfer is likely part of the compensation distribution to Mt. Gox creditors, as BitGo is one of the entities responsible for managing the compensation funds. Although market reactions to Mt. Gox-related activities are typically sensitive and may exert downward pressure on the cryptocurrency market, the funds have now been moved to a separate wallet, suggesting that the compensation process is nearing completion. The market’s response and the impact of this event remain to be seen [13].

Manta Pacific Launches MultiDA, Introduces Resilient Modular Network
Manta Network has officially announced the implementation of its MultiDA strategy by integrating modular data availability (DA) servers, including EigenDA, NEAR DA, 0G, Nubit, and Dill, into its Testnet to enhance network resilience and continuous operation. As the first Layer 2 (L2) solution to adopt MultiDA, Manta Network can maintain operations using other online DA layers if any DA server becomes unavailable, thereby ensuring network stability. As a leader in the modular ecosystem, Manta Pacific has saved over $6 million in gas fees and significantly increased network throughput. Although related tokens have not yet seen significant appreciation, Manta Pacific, as the largest modular L2 solution, demonstrates substantial growth potential [14].

Data Highlights

U.S. Producer Price Index Rises 0.1% in July After Seasonal Adjustment
According to the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) for final demand rose by 0.1% in July 2024 after seasonal adjustment, slowing from June’s 0.2% increase. On an unadjusted basis, the PPI increased by 2.2% over the past 12 months ending in July. The slowdown in the month-over-month PPI growth along with the moderate year-over-year increase suggests a decrease in economic activity in the production sector. Given the PPI’s influence on the Consumer Price Index (CPI), it is anticipated that the CPI will see a slight increase in July. This favorable data could bolster expectations for a Federal Reserve rate cut in September [15].

Probability of Fed Rate Cut in September
According to the CME FedWatch Tool, there is a 52.5% probability that the Federal Reserve will cut interest rates by 50 basis points in September, and a 47.5% probability of a 25 basis point cut. Compared to the previous day’s data on August 12, the probability of a 50 basis point cut increased by 2.5%, while the probability of a 25 basis point cut decreased by 2.5%. The lower-than-expected PPI data has further fueled expectations for a rate cut by the Fed next month [16].

Ethereum Spot ETF Sees First Positive Fund Flow Growth Last Week
According to Sosovalue data, Ethereum spot ETFs had a cumulative net inflow of approximately $104 million last week, marking the first week of positive fund flow growth. This increase was primarily driven by the active investment from the world’s largest asset management company, BlackRock. As of August 13, BlackRock’s ETHA saw a cumulative net inflow exceeding $900 million [17].

Funding News

According to Rootdata investment data, the following projects announced funding information in the past 24 hours, primarily involving the application of AI and blockchain technology in gaming and other fields [18]. Detailed funding information:

Essential —— An intent-based Ethereum Layer 2 (L2) scaling solution provider, successfully raised $11 million in a Series A funding round led by Archetype. Other notable investors included IOSG, Spartan, Mirana, Amber Group, Maven 11, as well as founders and angel investors from projects like Celestia and Hashflow. This new funding will support Essential in redefining blockchain interactions through its declarative, intent-based architecture, simplifying technical processes and making blockchain more accessible and user-friendly for developers and users worldwide. Additionally, Essential has launched a Pre-Alpha Devnet, providing early adopters with a permissionless environment to test and deploy declarative applications on the Essential platform.

Rivalz Network —— A decentralized intelligent layer (DePIN) leveraging AI technologyto verify the source of personal data and address core obstacles in AI data and decentralized infrastructure. Built on Dymension and Arbitrum, Rivalz Network offers a range of services through its AI Intel Layer, including a decentralized data source protocol, scalable data storage supported by fully homomorphic encryption, and Agent Data Coordination Services (ADCS) to ensure data accuracy, provenance, and immutability. Recently, Rivalz Network completed a $9 million funding round led by Delphi Ventures, D1 Ventures, and Gate.io. The funds will be used to accelerate project development, expand infrastructure, and build the ecosystem to drive innovation in the AI field and meet the growing market demand for high-quality AI data solutions.

Autoverse Studios —— A Web3 racing game developer, has successfully raised $8 million to advance the development of its community-driven racing game, Auto Legends. The game offers diverse gameplay, including racing, collecting, and team management, aiming to provide players with an immersive automotive culture experience. It will be released for free on PC, Mac, iOS, and Android platforms, with enhanced Web3 features. The funding round was led by White Star Capital, with participation from Sfermion, RockawayX, Ocular, and notable figures from the automotive and gaming industries.

Kokomo Games —— Founded by veteran game developers, Kokomo Games is a multi-chain Web3 gaming ecosystem. The team includes members with experience in developing games like Call of Duty Mobile and League of Legends. The company combines Web3 technology with traditional gaming elements, introducing a GameFi retention mechanism with financial incentives. Its oversubscribed angel round was backed by prominent investors including DAO Jones and Steve Aoki. The first game, One Million and One Kokos, will be available on Telegram. The team, with backgrounds from Activision and Riot Games, uses a token model to provide participation and skill rewards, setting a new standard for the game economy.

Airdrop Opportunities

Aethir —— Aethir, a decentralized cloud computing infrastructure project focused on providing distributed GPU cloud services, opened the community rewards claim channel on August 13. This channel is for users who hold and stake nodes but did not connect to the portal before the deadline. The community rewards claim period will last for 15 days, during which Aethir will distribute $20 million worth of ATH tokens to node holders as part of the Aethir Community Rewards Program. Additionally, Aethir introduced the “Aethir Edge,” an enterprise-grade edge computing device equipped with Qualcomm chips. This device aims to advance decentralized edge computing, offering users exclusive rewards and equitable access opportunities [19].

• Airdrop Expectations：The Aethir project has set a total supply of 42 billion ATH tokens, with 6% (approximately 2.52 billion tokens) reserved for airdrop rewards. The airdrop is divided into three phases. The first phase, completed on May 29, distributed 630 million ATH tokens, primarily to Aethir community members and Checker Node operators, with the remaining portion allocated to external communities. The claim period for these rewards began on June 12, requiring users to connect their Checker Nodes and staking wallets to the Aethir portal to receive their rewards and ensure future eligibility. Participants in the first phase of staking not only receive current rewards but also qualify for additional airdrops in subsequent phases.
• Airdrop Steps：Users need to visit Aethir’s airdrop page, connect their wallets, and complete various tasks on the page to collect badges. The more badges collected, the larger the airdrop share. Users can also earn points by participating in Galxe tasks, refer friends to gain additional badges, and climb the leaderboard to receive more rewards.

Stride —— Stride, a liquid staking protocol within the Cosmos ecosystem, announced on the X platform on August 12 that it has allocated a total of 250,000 STRD tokens to stDYM holders from February to June. These tokens will be distributed over the next 150 days. Users have the option to unlock their tokens immediately, but they will incur a 30% penalty to claim the full airdrop reward [20].

Reference：

1. Gate.io, https://www.gate.io/price
2. Gate.io, https://www.gate.io/zh/price/bitcoin-btc
3. Gate.io,https://www.gate.io/zh/price/ethereum-eth
4. Coinglass, https://www.coinglass.com/bitcoin-etf
5. Coingecko, https://www.coingecko.com/categories
6. Tradingview, https://www.tradingview.com/markets/#indices
7. Tradingview, https://www.tradingview.com/chart/?symbol=TVC%3AGOLD
8. Gate.io, https://www.gate.io/zh/bigdata/estimate
9. Cryptoquant,https://cryptoquant.com/asset/btc/chart/derivatives/taker-buy-sell-ratio?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line
10. Coinglass, https://www.coinglass.com/LongShortRatio
11. X, https://x.com/whale_alert/status/1823331262808961321
12. Etherscan, https://etherscan.io/address/0xc6cde7c39eb2f0f0095f41570af89efc2c1ea828
    1.Arkm,https://platform.arkhamintelligence.com/explorer/tx/4d1def9d1c6b76de462b7e1f42ad21f0e20f880761c6029ccceae518d71d7e40, https://www.reddit.com/r/mtgoxinsolvency/
13. Manta, https://mantanetwork.medium.com/introducing-resilient-modular-networks-with-manta-pacifics-multida-7d02b35a9c9c
14. Bls,https://www.bls.gov/news.release/ppi.nr0.htm
15. CME, https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
16. Sosovalue, https://sosovalue.xyz/zh/assets/etf/us-eth-spot
17. Rootdata, https://www.rootdata.com/Fundraising](https://www.rootdata.com/Fundraising
18. X, https://x.com/AethirCloud/status/1823331087193444674
19. X, https://x.com/stride_zone/status/1823005305870971294

Gate Research
Gate Research is a comprehensive blockchain and crypto research platform, providing readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Click the Link to learn more

Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.