Compiled by: Nona
Fear and Greed Index: 60 (Greedy)
Bitcoin Price: $118,564
BTC/ETH Spot ETF Capital Flow (as of 8.11)
BTC Net Inflow: $178.15 M
ETH Net Inflow: $1.02 B
Regulation/Macro
The El Salvador government has been purchasing 1 Bitcoin daily for 1000 consecutive days. On-chain data shows that the government currently holds a total of 6,266.18 BTC, valued at approximately $743.3 million.
Project/Company Dynamics
Hong Kong-listed Fosun International has assembled a team to apply for a Hong Kong stablecoin license. Founder Guo Guangchang personally led a team to meet with Hong Kong SAR Chief Executive Lee Chia-chiu and Hong Kong SAR Financial Secretary Chan Mo-po on August 6. The Financial Secretary is the direct superior of the Hong Kong Monetary Authority, which is the regulatory body for stablecoin license approval.
The Uniswap Foundation proposed establishing a new legal entity called DUNI using Wyoming's Decentralized Unincorporated Nonprofit Association (DUNA) framework. The proposal would allocate $16.5 million worth of UNI to the new entity for past tax and legal defense budgets. The new entity will not change the Uniswap protocol, token, or governance structure, and fee income cannot be directly distributed to UNI holders. The Uniswap Foundation states that adopting the DUNA framework will pave the way for protocol fees, transferring a small portion of LP fees to the DAO treasury.
The digital asset division of US-listed Fundamental Global Inc., FG Nexus, purchased 47,331 Ethereum at an average price of $4,228.40, valued at approximately $200 million. In addition to this acquisition, the company announced a change of stock ticker from FGF to FGNX.
Bitcoin miner MARA plans to acquire 64% of French data company Exaion for $168 million, becoming the majority shareholder. MARA may add an additional $127 million to increase its stake to 75%, with EDF retaining a minority stake. Exaion focuses on data center construction and cloud and AI infrastructure. This move marks MARA's expansion into AI inference while accelerating its Bitcoin strategy. In the second quarter of this year, MARA's adjusted EBITDA grew over 1000% year-on-year to $808 million.
Ledger CTO Charles Guillemet tweeted, "Monero seems to be experiencing a successful 51% attack. This privacy-focused blockchain, launched in 2014, has long been a target for government and three-letter agencies and is now banned by most centralized exchanges. The Qubic pool has been accumulating computing power for months and now controls most of the Monero network's hashrate. A significant blockchain reorganization was detected this morning. With its current dominant position, Qubic can rewrite the blockchain, enable double-spending, and censor any transaction."
Depth & Outlook
The global leading anti-money laundering standard-setter, the Financial Action Task Force (FATF), has long warned about the systemic risks posed by "non-custodial" or self-custodial wallets conducting direct peer-to-peer transactions. These transactions bypass regulated Virtual Asset Service Providers (VASPs), evading traditional KYC controls and travel rule obligations that require identifying sender and receiver information to accompany each relevant transaction.
ETH's rise stems from institutional real money rather than crypto market's own funds. In the current context of limited liquidity, institutional investment targets are more cautious, preferring lower-risk currencies. This means funds are unlikely to overflow into the Altcoin market, and the capital-driven momentum on Ethereum is difficult to transmit to Altcoins.
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