Rhythm Evening News｜A list of important information in the crypto industry on July 12

Cycle Capital analyzes the selling pressure of BTC in Mentougou: the actual selling pressure has not yet entered the market, and it may cause panic decline after being distributed to CEX

BlockBeats news, on July 12, Cycle Capital published an article to analyze the selling pressure of BTC in Mentougou in an all-round way. Data shows that as of July 12, 138,000 BTC are still in the account address of Mentougou, which can be considered that the selling pressure of Mentougou has not actually entered the market. The decline on July 5 is part of the realization of the expected decline in the selling pressure of Mentougou.

The article analyzed that Cycle Capital believes that the creditors of Mentougou will sell some BTC, but they should not sell all of them. If the compensation of Mentougou is sold out within a month, the selling pressure faced by the market will be highly similar to the selling of the German government, and the amount and time of the selling are comparable. According to the current demand for ETFs, there is no sufficient capacity to undertake, and the price of BTC may fall further.

If the compensation of Mentougou lasts longer (2-3 months), the amount of BTC entering the market every day will not be particularly large, and it will not cause a one-time decline. However, due to the continued expectation of selling pressure, there may be a period of shocks to digest the selling through shocks. This also means that it is difficult for the main rising wave to come in the short term.

Currently, only 1,545 tokens of Mentougou have been transferred to the exchange, and the rest are still in Mentougou's account. It can be considered that the actual selling pressure has not yet entered the market. When the BTC held by Mentougou is distributed on a large scale to several trading platform addresses, it may cause a large panic decline, thus forming a plunge. When a specific individual sells, due to dispersion and difficulty in tracking and observation, it may not necessarily cause a significant drop in price.

Yesterday, the U.S. spot Bitcoin ETF had a net inflow of approximately US$79.2 million, marking five consecutive days of net inflow

BlockBeats news, July 12, yesterday, the U.S. spot Bitcoin ETF had a net inflow of approximately US$79.2 million, marking five consecutive trading days of net inflow, including:

IBIT had a net inflow of US$72.4 million;

GBTC had a net outflow of US$37.7 million;

FBTC net inflow of 32.7 million US dollars;

BITB net inflow of 7.5 million US dollars;

ARKB net inflow of 4.3 million US dollars.

Cryptocurrency panic and greed index reached 25, and market panic sentiment hit a new low in a year

BlockBeats news, on July 12, according to Alternative data, today's cryptocurrency panic and greed index is 25 (yesterday was 29), and market panic sentiment hit a new low in a year.

Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).

SingularityNET: CEO X account has been stolen, users should not click on related links

BlockBeats news, on July 12, SingularityNET official account posted on social media that its CEO Ben Goertzel's X account has been stolen, users should not click on related links, SingularityNET currently has no AGIX airdrop plan.

Scytale Digital will launch a new Polkadot ecosystem fund in October

BlockBeats news, on July 12, Web3 Foundation CEO Fabian Gompf announced at the Polkadot Decoded Summit that Scytale Digital will launch a new Polkadot ecosystem fund in October. The specific size of the fund has not been disclosed.

The third destruction of ApeX pro token APEX has been completed, and the total supply of tokens has dropped to 600 million

BlockBeats reported that on July 12, according to official news, the third destruction of ApeX pro token APEX has been completed, and the total supply of tokens has dropped to 600 million, which is an important measure to achieve the strategic goal of reducing the supply of APEX tokens by 50%.

It is reported that Omni, recently released by ApeX Protocol, adopts modular design and zklink engine, and realizes decentralized and efficient order book derivatives trading. In addition, ApeX Omni has launched a points activity, where you can get points by participating in transactions and exchange them for crypto assets or physical rewards.

Compound founder, CEO and other team members announced their resignation and founded a new project Legend

BlockBeats news, on July 12, Compound CEO @jaysonhobby posted on social media that he will resign from the Compound team with Compound founder Geoffrey Hayes and former Compound member Mykel Pereira, and jointly create a new project Legend.

It is reported that Legend aims to bring 100 million new users to the chain by building the world's best DeFi interface and improving user experience.

Solend Season 2 will airdrop 1.1 million SLND rewards, and will be open for claiming on July 15

BlockBeats news, on July 12, according to official news, Solend Season 2 will airdrop 1.1 million SLND as rewards, and will be open for claiming on July 15.

Polyhedra Network announced that it will launch Layer 1 blockchain ZKJ Chain

BlockBeats news, on July 12, Polyhedra Network officially announced that it will launch ZKJ Chain, a new Layer-1 blockchain based on zero-knowledge (ZK) joint computing.

Decentralized AI network Bittensor has resumed block production

BlockBeats news, on July 12, according to the blockchain browser, the decentralized AI network Bittensor has resumed block production.

Bittensor officials said that normal operations will resume at 5:00 pm Eastern Time on July 12.

The built-in Telegram Stars purchase function of the Meme project DOGS has aroused community doubts

BlockBeats news, on July 12, Telegram's native Meme project DOGS now has a built-in Telegram Stars purchase function, with an exchange ratio of 1:1, and Telegram Stars can be purchased directly with legal currency.

It is reported that Telegram Stars are virtual items that allow users to purchase digital goods and services from robots and applets within the Telegram ecosystem, and give gifts to content creators on the Telegram platform.

This move has caused widespread discussion in the crypto community, saying that this may be an official sale of coins, and the total amount of tokens can be issued indefinitely, which has aroused community doubts.

Morgan Creek Digital will raise $500 million for new Web3 venture capital fund

BlockBeats news, July 12, according to Coindesk, Morgan Creek Digital plans to raise up to $500 million for the new fund, focusing on early opportunities in artificial intelligence (AI), blockchain technology, chips and data.

Morgan Creek Digital said that the company is in talks with sovereign and institutional investors, company executives and industry subject matter experts in Europe, the Middle East and Africa (EMEA) and the Asia-Pacific region (APC) to expand its regional influence. In addition, the company is also in talks with US investors and partners.

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