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Phemex Crypto Market Daily: Crypto Market Daily Report - Market Analysis & Insights (Aug 28)
6 hours ago

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Trader 0x12C2’s 50x Bitcoin Long Shows $658K Unrealized Gain

Trader 0x12C2 opened a 50x leveraged long position on 50 BTC worth $3.99 million on Aster DEX and is currently sitting on an unrealized profit of $658,000. The position represents an 825% return based on the figures provided. The trade highlights continued appetite for high-leverage Bitcoin exposure on decentralized derivatives platforms.
6 hours ago

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OneKey Reproduces Ledger Transaction Replacement Attack on Older Ethereum App Version

OneKey said it successfully reproduced a transaction replacement attack in a lab environment against an older version of Ledger’s Ethereum app, using a previously patched flaw to overwrite transaction contents during the signing process while a user reviews a legitimate transaction. The issue affected Ledger Ethereum app version 1.22.1. Ledger released version 1.22.2 on Aug. 13 with application-layer protections and fixed the underlying issue in Secure SDK 26.6.1 on Aug. 21. Ledger said no users were hacked and stressed the incident was only a lab reproduction of a vulnerability in an outdated version. The company added that the flaw was unrelated to mnemonic generation and instead affected transaction handling during signing.
7 hours ago

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Sharpa Discloses Over $620 Million in Funding at 22 Billion Yuan Valuation

General-purpose robotics company Sharpa has disclosed more than 4.5 billion yuan in total funding, marking the first time the startup has publicly revealed its financing history. Investors include Alibaba, Meituan, Tencent, JD.com, Sequoia China, Qiming Venture Partners and Meituan Longzhu, with Sharpa valued at 22 billion yuan post-money. Sharpa was founded in late 2024 by Hesai Technology CEO Li Yifan, CTO Xiang Shaoqing and chief scientist Sun Kai. The company is developing general-purpose robots and components focused on dexterous manipulation. Co-founder Li Yifan said Sharpa plans to fully penetrate several real-world application scenarios first to build generalized capabilities and real data, before gradually entering the household market from 2028. Li said the target real-world scenarios must meet three conditions: environments are not specially modified for robots, tasks are completed fully autonomously, and operations involve complex multi-step workflows.
7 hours ago

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Arthur Hayes Says Bitcoin Rangebound Trade Could Break Strategy’s Buying Model

Arthur Hayes said Bitcoin consolidating around $80,000 could undermine Strategy’s so-called perpetual buying model, arguing the company’s mNAV premium has compressed to about 0.74x and is now close to the underlying value of its 840,447 BTC holdings. He said the reduced premium leaves little room to fund another major round of Bitcoin purchases through accretive capital raising. Hayes said Saylor faces three difficult options: issuing new shares at an insufficient premium and diluting shareholders, selling Bitcoin despite the company’s long-standing commitment not to sell, or cutting preferred share dividends and risking investor confidence. Strategy is estimated to owe about $1.5 billion a year in dividends on STRK and STRC preferred shares, with roughly 18 months of coverage as of May before requiring new funding sources. Hayes argued that if Bitcoin enters a prolonged sideways market, Strategy’s model of buying Bitcoin at a premium loses appeal because investors can gain spot exposure through ETFs without taking on the company’s leverage and dividend burden. He added that this does not mean Strategy would collapse overnight.
7 hours ago

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California Meme Coin Bill Clears Legislature, Awaits Governor’s Signature

California’s AB 2409 meme coin bill has passed both the state Assembly and Senate and is now awaiting the governor’s signature. The legislation would bar public officials and employees from issuing meme coins. Starting Jan. 1, 2027, the bill would also prohibit the listing of such tokens to California residents. The measure marks a new state-level push to regulate meme coin activity tied to public office and resident access.
7 hours ago

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Anthropic Plans to Release IPO Prospectus After Sept. 7 Holiday

Anthropic plans to publish its IPO prospectus after the U.S. Labor Day holiday on Sept. 7, according to a market report cited by Jin10. The AI company could list in the U.S. in late September or early October. The timeline indicates Anthropic is moving ahead with listing preparations, with the prospectus expected shortly after the holiday and the debut potentially following within weeks.
9 hours ago

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Tencent Hunyuan Unveils Hy4 Preview With 770B Parameters

Tencent Hunyuan has released Hy4 preview, a new model with 770 billion total parameters, 49 billion activated parameters and a 1 million-token context window. The company said the model shows strong performance in real-world productivity tasks including coding, office work and scientific applications.
9 hours ago

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Metaplanet Deposits 1,350 BTC Into Coinbase Prime

Metaplanet moved 1,350 BTC worth about $108 million to Coinbase Prime roughly one hour ago. The transfer follows the company’s accumulation of 43,000 BTC, acquired for about $3.48 billion at an average price of $96,191 per coin. The latest deposit adds to a series of Bitcoin treasury-related movements tied to the miner’s holdings. No further details on the purpose of the transfer were provided in the source material.
10 hours ago

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Trader JackYi Sees Brief Bitcoin Pullback Before Push Toward $86,000

Bitcoin may face a modest short-term pullback after failing to break resistance near $81,000, according to Liquid Capital founder JackYi. He said the market could resume its uptrend afterward, break through $81,000 and target the next resistance zone around $86,000. JackYi said his team plans to close long positions near $86,000, which he described as a level likely to trigger a larger correction. Despite the resistance outlook, he said the broader bull market trend remains intact and that he is not considering short positions.
10 hours ago

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Solana Enables First SIMD-0437 Phase on Testnet to Cut Storage Costs

Solana testnet has activated the first phase of proposal SIMD-0437, beginning tests for an account rent reduction mechanism, according to core development team Anza. The proposal includes five feature gates, and only the first has been enabled so far, meaning the full set of changes has not yet been completed or deployed to mainnet. Once all five phases are finished, Solana’s lamports_per_byte storage cost parameter is expected to fall from 6,960 to 696, a 90% reduction. For token accounts, the deposit required to maintain rent-exempt status is projected to drop from about $0.16 to $0.016, reducing account creation and application deployment costs.
10 hours ago

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USDC Treasury Mints 250 Million USDC

USDC Treasury minted 250,000,000 USDC, valued at about $249,987,500, according to the source post. The update points to a fresh stablecoin issuance with no additional details provided. The reported mint adds 250 million USDC to circulation from the treasury wallet. No further context on issuance timing or intended allocation was included in the source content.
10 hours ago

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Grayscale Says Bitcoin’s Correlation With Gold Tops 50% as Debasement Trade Returns

Bitcoin’s 90-day correlation with the Nasdaq 100 has fallen from above 60% to about 33%, while its correlation with gold has risen from near zero at the start of the year to more than 50%, according to Grayscale Head of Research Zach Pandl. The shift suggests investors are refocusing on Bitcoin’s scarcity and store-of-value role, with the “debasement trade” — buying scarce assets to hedge fiat currency debasement — showing signs of returning. The change comes as U.S. federal debt has surpassed $40 trillion and long-term Treasury yields have moved notably higher, pushing investors to seek hedges against deteriorating fiscal and monetary fundamentals. Grayscale said Bitcoin, created after the 2008 financial crisis with no central issuer and a fixed supply cap, may be entering a more favorable market environment alongside gold as a scarce and liquid alternative asset.
11 hours ago

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Crypto Community Marks 12 Years Since Hal Finney’s Death

The crypto community is marking the 12th anniversary of Hal Finney’s death. Finney is widely recognized as the first recipient of Bitcoin in the network’s earliest days. The post commemorates Finney’s legacy as an early Bitcoin pioneer, highlighting the date as a milestone for the industry.
11 hours ago

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Aave V4 Deposits Top $806 Million After 30% Weekly Increase

Aave V4 user deposits climbed to $806 million, up 30% over the past week and marking a record high, according to an on-chain dashboard cited by The Defiant. Deposits crossed $500 million on Aug. 19, surpassed $600 million on Aug. 21, and topped $800 million six days later. Ethereum V4 deposits alone exceeded $500 million on Aug. 25. Active loans on V4 reached $216 million, while EtherFi Cash became the protocol’s second-largest market with $257 million. Current market deployments include Ethereum Core at $378 million, EtherFi Cash on Optimism at $257 million, Ethereum Global Dollar at $75 million, and Ethereum Prime at $63 million. By deposit composition, weETH led with $97 million, followed by USDG at $90 million, while WETH and USDC each stood at $81 million.
12 hours ago

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BIT-Linked Entity Opens New $15 Million ETH Long Position

A BIT-linked entity that previously realized $55.095 million in profit on an earlier long position has opened a new Ether long, according to on-chain monitoring by analyst Ai Yi. A new address received 10 million USDC in margin yesterday and opened a 6,000 ETH long position at $2,492 about two minutes before the report, valued at roughly $14.98 million. The position appears to be an initial entry, with signs the entity may be preparing to build a second round of ETH longs.
12 hours ago

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Wallet Linked to a16z Reportedly Buys 441,000 HYPE With $36 Million USDC

A wallet identified by on-chain analyst Ember as the largest institutional holder of HYPE linked to a16z has continued buying and staking the token. Over the past two days, the entity reportedly spent 36 million USDC to acquire 441,000 HYPE at an average price of $81.6, then staked the entire amount. Purchases are still ongoing, with another 12 million USDC transferred in for additional buys. The wallet’s total staked HYPE holdings now stand at 4.826 million tokens, worth about $404 million, with an average entry price of roughly $66.1 and an unrealized profit of about $84.9 million.
12 hours ago

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CCC Token on BSC Exploited for About $117,000 After sell() Function Abuse

CCC token on BSC was hit by an exploit that caused an estimated loss of about $117,000. The attacker abused the contract’s sell() function to burn CCC tokens from the LP pool, triggering abnormal price swings. The incident was flagged by TenArmorAlert. No further details on the attacker or recovery efforts were provided in the source report.
13 hours ago

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Solana Dual-Deflation Proposal Reaches Quorum With 13 Hours Left in Vote

Solana’s dual-deflation proposal, SGP-0002, has reached the quorum threshold with roughly 13 hours remaining in the vote. Participation stands at 47.26%, with 68.56% of votes cast in favor. The proposal would raise Solana’s annual deflation rate from 15% to 30% to accelerate the network’s path to a 1.5% terminal inflation rate. If approved, the timeline to reach that target would be shortened from about 5.7 years to roughly 2.8 years, while reducing SOL issuance by about 18.9 million tokens over six years.
13 hours ago

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Federal Judge Says Trump Administration Violated Anthropic’s First Amendment Rights

A federal judge ruled that the Trump administration violated Anthropic’s First Amendment rights by labeling the company a supply-chain risk. The decision marks a legal setback over how the administration characterized the AI firm. The ruling, as described in the source, focused on the government’s designation of Anthropic rather than any broader remedy or penalty. No additional details on the court order or next steps were provided in the source material.

Phemex Crypto Market Daily: Crypto Market Daily Report - Market Analysis & Insights (Aug 28)

Trader 0x12C2’s 50x Bitcoin Long Shows $658K Unrealized Gain

OneKey Reproduces Ledger Transaction Replacement Attack on Older Ethereum App Version

Sharpa Discloses Over $620 Million in Funding at 22 Billion Yuan Valuation

Arthur Hayes Says Bitcoin Rangebound Trade Could Break Strategy’s Buying Model

California Meme Coin Bill Clears Legislature, Awaits Governor’s Signature

Anthropic Plans to Release IPO Prospectus After Sept. 7 Holiday

Tencent Hunyuan Unveils Hy4 Preview With 770B Parameters

Metaplanet Deposits 1,350 BTC Into Coinbase Prime

Trader JackYi Sees Brief Bitcoin Pullback Before Push Toward $86,000

Solana Enables First SIMD-0437 Phase on Testnet to Cut Storage Costs

USDC Treasury Mints 250 Million USDC

Grayscale Says Bitcoin’s Correlation With Gold Tops 50% as Debasement Trade Returns

Crypto Community Marks 12 Years Since Hal Finney’s Death

Aave V4 Deposits Top $806 Million After 30% Weekly Increase

BIT-Linked Entity Opens New $15 Million ETH Long Position

Wallet Linked to a16z Reportedly Buys 441,000 HYPE With $36 Million USDC

CCC Token on BSC Exploited for About $117,000 After sell() Function Abuse

Solana Dual-Deflation Proposal Reaches Quorum With 13 Hours Left in Vote

Federal Judge Says Trump Administration Violated Anthropic’s First Amendment Rights