Daily News | Aave's Native Stablecoin GHO Issuance Exceeded 20 Million, BTC Volatility Index Reached A New Low; Is X Financialization A Great Benefit for DOGE?

2023-08-14, 03:58

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![](https://gimg2.gateimg.com/image/article/16919919740814.jpg)
## Crypto Daily Digest: Linea's mainnet has been bridged into 24,783ETH, and SANDs are unlocked over 300 million today
Regarding recent project trends, according to DuneAnalytics data, the number of WLD tokens applied for has exceeded 16 million, with 517,5471 application addresses, and each WLD token applicant earns an average profit of $55.26. On the other hand, the mainnet of Linea has bridged into 24,783ETH, with a total of 22,8901 transactions and 165,920 interactive addresses.

In terms of market data, according to Theblock data, the <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> Volatility Index reached 42.48, hitting a new low this year. Some media jokingly claim that Bitcoin has truly become a "stablecoin." The crypto market is waiting for a breakthrough event to break this dilemma of not rising or falling.

In terms of issuance and unlocking, the native stablecoin GHO of <a href="/price/aave-aave" target="_blank" class="blog_inner_link">Aave</a> has exceeded 20 million since its launch on the <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> mainnet on July 15th. SAND will be unlocked 332.5 million today, accounting for approximately 16.2% of the circulation. It is reported that the cost for seed round investors to purchase SAND is $0.0036. Currently, the price of SAND is $0.4, and the profit for seed round investors will exceed a hundred times.

In other news, the refreshed X (formerly Twitter) has obtained a payment service remittance license from Georgia, USA, another license obtained by X company after Michigan, Missouri, and New Hampshire. This means that Musk can financialize X. Could it be positive news for <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a>?

According to Certik's official Twitter account, the EOA address (0xe10d) related to the Steadf project scam on August 7 transferred 100 ETHs (approximately $185,000) to Tornado Cash. As of now, the address still holds 424 ETHs (approximately 786,000).

<a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> has launched a new proposal, AIP-266, to launch a new proposal called "Efficiency Improvement Proposal EIS," aimed at empowering the ApeCoin Special Committee to promote more efficient DAO operations. It is reported that the vote on the proposed amendment will end on August 17.

Yesterday, <a href="/price/uniswap-uni" target="_blank" class="blog_inner_link">Uniswap</a> founder Hayden Adams stated on Tweet that the company has no other affiliation with early employee AzFlin. Due to AzFlin being a developer of the MEME token FRENS earlier, several hours after deploying the FRENS token, AzFlin used a multi-bridge HOP to transfer 14 WETHs from the Base network, and even sold the tokens proposed from liquidity, which raised concerns about Uniswap from the outside world.

## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1691992007BTC.png)
Daily moving averages align, with a convergent posture expected by the morning of August 22. Conservative bullish recommendation for long positions on a breakout above $30,888 USD or short positions on a drop below $28,535 USD, maintaining overall support along the purple uptrend line.

### WLD
![](https://gimg2.gateimg.com/image/article/1691992025WLD.png)
The short-term grabbing strategy proves effective, with an accurate base at $1.650 USD, as anticipated rebounding towards $1.714 USD, $1.745 USD, and $1.790 USD, and topping at $1.845 USD, yielding a 10.12% rebound from the bottom. The long-term outlook remains bearish, advising observation for potential secondary bottoming.

### MC
![](https://gimg2.gateimg.com/image/article/1691992040MC.png)
The 4-hour chart breaks through a large-scale convergent upper boundary. Last week's entry positions ranged around $0.2568 USD, showcasing an upward movement to a peak of $0.3700 USD in the past two days, with a peak gain of 44.08%. Profit-taking is recommended. Long-term stability should be maintained at around $0.2930 USD.

## Macro: The US economy's attention has shifted, and the impact of interest rate hikes has temporarily faded
CPI remains a concern for the US government and Federal Reserve, and is currently expected, but there is still a possibility of interest rate hikes in Q4.

The former OCC acting director stated that clear stablecoin regulation benefits the global adoption of the US dollar. However, some US lawmakers believe that this may be harmful to the financial system and economy.

As the heat of the Federal Reserve rate hike event decreases, the US government has shifted its economic target towards retail sales. This is because the market has been highly concerned about inflation over the past year, but as prices cool and inflation approaches the target, the focus will shift.

One of the best economic indicators reflecting the health of the US economy is retail sales, which will become the focus of subsequent US transactions. The monthly retail sales in the United States are expected to grow by 0.4%, with a previous value of 0.2%, a year-on-year reading of 1.5%, and a previous value of 1.49%.

The shift of attention from the US government in the economic sector means that the crypto market will temporarily not be affected by the Federal Reserve's interest rate hike policy in the short term. Currently, the problems faced by the entire industry are more concentrated in regulatory aspects.

<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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