New Zealand to Ban Cryptocurrency ATM Services
Decrypt reported that the New Zealand government has decided to ban cryptocurrency ATM services. The explanation is to make it more difficult for criminals to convert cash into high-risk assets such as cryptocurrencies. This measure is in line with the reform of anti-money laundering and counter-terrorism financing systems.
Dormant Whale Transfers $977 Million in BTC After 4 Years
On-chain Lens reported that an anonymous Bitcoin whale address, which had been dormant for 4-6 years, transferred 9,000 BTC (equivalent to $977 million) to an external address. The address transferred 17,283 BTC (equivalent to $1.88 billion) to other addresses in the past 24 hours.
H100 Raises $54 Million, Plans BTC Purchase
Swedish healthtech company H100 announced through its official X that it has raised an additional $54 million through stock and convertible bond issuance. The investment funds will be used for a BTC reserve strategy.
Canadian Fintech LQwD Raises $9 Million to Buy BTC
Canadian fintech company LQwD announced plans to raise $9 million to purchase additional BTC. Previously, LQwD had disclosed holding 160 BTC.
ETH Spot ETF Sees $405 Million Net Inflow for 3 Consecutive Trading Days
According to TraderT, the US Ethereum (ETH) spot ETF received a total net inflow of $29.5 million ($405 million) on the 8th (local time). This marks the third consecutive day of net inflows. BlackRock ETHA received $25.3 million, Bitwise ETHW received $4.9 million, while Fidelity FETH saw a small net outflow.
Ministry of Finance: "Validator Participation Acquisition Value Calculated at Time of Acquisition Market Price"
The Ministry of Finance has interpreted that the acquisition value of virtual assets received as compensation for validator participation should be calculated at the market price at the time of acquisition. According to Digital Asset, the Corporate Tax Division of the Ministry of Finance explained in a tax law information system query that "for domestic corporations participating as governance partners with foreign corporations owning virtual asset platforms, the acquisition value of newly created virtual assets received as validator compensation should be calculated at the market price at the time of acquisition".
Tiger Research: "Intensifying Competition Between Traditional Finance and Crypto - On-Chain Financial Rivalry"
Asian Web3 research and consulting firm Tiger Research diagnosed in its report "Competition Surrounding On-Chain Finance: Who Will Design the New Order" that "the boundaries between existing finance and on-chain finance are breaking down, creating a new balance. The ability to harmonize technology and systems based on competitive advantages is the key element of competition." They further explained that JP Morgan has started directly operating financial services on an open blockchain, issuing JPMD deposits on Base Chain. Users can deposit dollars and receive corresponding JPMD tokens, which can be instantly converted to cash without an off-ramp, providing deposit protection and interest income. Additionally, USDC issuer Circle is pursuing the establishment of a trust bank. Previously, Circle had entrusted USDC reserves to Bank of New York Mellon and asset management to BlackRock, necessitating independent operational authority. If Circle obtains trust bank status, it can directly manage reserve storage and expand its financial infrastructure business.
Global Liquidity Ratio to BTC Reaches 12-Year High
ARK Invest, led by Cathie Wood, reported in its monthly report that the ratio of global M2 supply to Bitcoin supply has reached its highest point in 12 years. They explained that currently, one circulating BTC is equivalent to approximately $5.7 million in M2. As Bitcoin supply gradually decreases and global liquidity is expected to expand, this ratio is likely to continue rising.
Polygon to Upgrade Heimdall v2 on 7/10
The Block reported that Polygon (POL) is scheduled to perform the Heimdall v2 upgrade on the 10th (local time). The upgrade primarily focuses on reducing block finality to 5 seconds and is technically the most complex hard fork of the Polygon Proof-of-Stake (PoS) network since its launch in 2020.
Mind Network Collaborates with BytePlus under ByteDance
Fully Homomorphic Encryption (FHE) infrastructure protocol Mind Network announced a Memorandum of Understanding (MOU) with BytePlus, an AI cloud platform under ByteDance. Through this collaboration, Mind Network aims to build security-based AI infrastructure and develop privacy-focused services. The two companies will focus on two key areas: technology integration and FHE-based agent operation. BytePlus will provide DeepSeek as a standardized API, with the entire inference process protected by Mind Network's unique FHE module. Additionally, Mind Network is integrating its core component, Model Context Protocol (MCP), into major cloud environments based on the partnership. MCP provides encrypted verification flow, end-to-end data protection, and on-chain verification capabilities.
Analysis: "BTC Strong Trend Coexists with Anxiety... Watching for Profit-Taking"
As BTC hovers around $110,000, FxPro Senior Market Analyst Alex Kupchikevich diagnosed that buyers' enthusiasm is cooling. According to CoinDesk, he stated, "While there are inflows of bottom-fishing buying near the 50-day moving average, selling movements are equally active. Although maintaining a bullish trend by distancing from the 200-day moving average, investors may quickly shift to profit-taking if market sentiment changes."
Analysis: "BTC Buying Hesitation After Failing to Set New High"
Bitfinex analysts diagnosed that traders are hesitant to buy at current price levels after BTC failed to set a new high. According to CoinTelegraph, they reported in their analysis that "Bulls are hesitant to drive BTC prices higher without a new catalyst or clear macro signal. The current market lacks buying momentum while profit-taking pressure decreases."
Long and Short Ratios of BTC Perpetual Futures at Top 3 Futures Exchanges
Based on open interest, the long and short position ratios for BTC perpetual futures over the past 24 hours at the world's top 3 cryptocurrency futures exchanges are as follows:
Overall Exchanges: Long 49.97% / Short 50.03%
1. Binance: Long 49.63% / Short 50.37%
2. Bybit: Long 48.73% / Short 51.27%
3. Gate.io: Long 50.94% / Short 49.06%
Bithumb and Coinone Delist ALEX
Bithumb and Coinone announced that they will delist ALEX at 3 PM on August 11th.
Upbit Changes NXPC Circulation Plan
Upbit announced that it has applied changes to the NXPC circulation plan as requested by Nexspace.
Lumiwave Launches Game 'Samurai Shodown R'
Lumiwave (LWA) announced through X that it has launched the mobile MMORPG Samurai Shodown R. Lumiwave has been developing this game together with global game company SNK.
