2. Hong Kong legislator Wu Jiezhuang proposed the creation of a semi-private blockchain by the government and regulators. This blockchain would integrate all financial services and promote everyday applications in order to further establish Hong Kong as the center of Web3. An online poll showed that 74.4% of participants support this proposal, while 17.4% oppose it. The voting will continue for another day to gather more opinions.
3. Despite the SEC lawsuit, Coinbase's market share continues to rise. Despite the legal challenges, Coinbase has signed agreements with several global asset management companies. In June, Coinbase reached its highest market share since January 2023, controlling around 50% of the trading activity on regulated exchanges in the United States. The SEC charges against Coinbase and Binance actually increased Coinbase's market dominance to a peak of 64% in June. Other US platforms like Kraken and Bitstamp also saw an increase in market share during this period.
4. Ethereum community members have proposed a new standard called ERC-7265 to enhance the security of DeFi protocols. This standard would allow the implementation of "kill switches," which would add contingency plans to smart contracts and prevent tokens from leaving during a hack. The proposal was made by @tcb_00, @Diyahir, and @real_philogy, but it remains to be seen if the Ethereum core team will accept and implement this as the final standard.
5. Arbitrum, a popular Ethereum scaling solution, has reached significant milestones. Currently, Arbitrum has created over 9 million accounts, with 7.632 million active accounts. The total number of on-chain transactions on Arbitrum has surpassed 292 million, with locked ERC-20 tokens valued at around $9.842 billion.
6. The floor price of Bored Ape Yacht Club (BAYC) dropped to a two-year low recently. Factors contributing to the drop include a scarcity of buyers, a weak and illiquid market, and large holders selling off their BAYC. For example, Huang Lizheng sold a significant amount of BAYC on the Blur marketplace. Furthermore, NFTstats.eth data shows that over 80% of BAYC and CryptoPunks have not been sold since 2023, indicating a lack of liquidity in the market.
7. ssv.network has released a roadmap for its mainnet launch in four phases. ssv.network is a decentralized Ethereum staking infrastructure. The roadmap includes pre-launch, limited launch, launch, and permissionless launch. The network aims to achieve a fully permissionless launch in Q4 2023, although the timeline is subject to change.
8. OKX Europe has introduced a new structured product called "Snowball." Snowball offers two investment strategies, bullish and bearish, which are based on the price volatility of BTC and ETH. Users can invest in these strategies using USDT, BTC, or ETH, depending on the chosen strategy. Snowball products aim to provide higher returns and protection during volatile market conditions, allowing users to earn profits in various market scenarios.
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