Crypto Rebounds
Euro Stablecoin EURT Launches On Stellar, Robinhood Halts Its 24-hour Trading Service
The crypto market has recaptured a $2T market cap after the major wobble it's seen days before. Bitcoin jumped back to above $56k and Solana led other coins' recovery.
Ethereum ETFs saw $48 million in daily inflows - the second largest day.
While Ethereum whales have been selling and on-chain activity is down, Ether's price is showing improvement, like Bitcoin, having jumped back up by ~10%.
Some decentralized finance platforms experience major market movements a bit differently. Aave raked in $6 million in revenue during the crash via decentralized liquidations.
Amid the volatility, Robinhood had to halt its 24-hour trading service, which sparked speculation on social platforms.
Market Update
News
Euro-Pegged Stablecoin EURT Launches on Stellar Blockchain
The European digital finance landscape is set to witness a transformation with the launch of a new MiCA-compliant Euro-pegged stablecoin, 'EURT'. This initiative is a collaborative effort between Ireland-based DECTA and French fintech company, Next Generation. The stablecoin will be launched on the Stellar blockchain. | Read More
Robinhood Halts 24-Hour Trading
On August 6, Robinhood suspended its 24-hour trading service for 8 hours. This suspension was due to a halt by its execution venue, Blue Ocean ATS, amid global stock market volatility. This followed another alleged suspension the previous day. The halt led to major speculation on social media | Read More
Aave Sees $6M Revenue Amid Crypto Market Downturn
Aave generated over $6 million in revenue as crypto prices plummeted. This financial achievement came from decentralized liquidations, where assets are automatically sold off to cover loans when their value drops. A single large liquidation of a $7.4M in WETH position contributed $802k to Aave's earnings. | Read More
dYdX Community's $5M Token Distribution
As part of Season 6 of the Chaos Labs Launch Incentives Program, the dYdX community has voted to distribute $5 million in $DYDX tokens. In addition to the token distribution, the community has approved updates to the RNDR-USD market parameters and the dYdX Chain software. dYdX also has several other updates. | Read More