DeFi
The record number of liquidations stemming from the sharp market wipeout helped DeFi lending protocols such as Moonwell generate record profits.
Bitcoin
Spot Bitcoin ETFs saw a trading volume of $4.7 billion amidst Monday’s global rout, with BlackRock’s iShares Bitcoin Trust (IBIT) dominating the day by contributing 52% of the total, according to data from Coinglass.
Ethereum
The price of ether fell 20% as market maker Jump Crypto appeared to offload millions of dollars worth of crypto on Sunday.
The number of staked ETH has crossed a record level of 34 million amidst outflows from ETH ETFs stemming from Grayscale’s large fee rate as well as investor’s opportunity cost of not staking, per Nansen and a Dune dashboard by Hildobby.
Business
The Appellate Court of Montenegro has ruled that Do Kwon should be extradited to South Korea because their request came in earlier than the one from the US.
In a tweet thread, ParaFi Capital, the biggest investor in the prediction market, said the majority of first-time users participated in non-election-related markets.
The crypto exchange released its Q2 financials on Thursday and acknowledged lower spot trading volumes but also celebrated achieving better crypto regulatory clarity and becoming the crypto ETF custodian of choice.
Tether’s attestation report disclosed the stablecoin issuer made $5.2 billion in profit in the first half of the year, and owns $97.6 billion worth of US Treasuries.
The Mt. Gox Trustee said 17,000 creditors have successfully been repaid through designated crypto exchanges in July.
With the price of bitcoin rebounding from its recent low of around $54,000 to roughly $66,500 at presstime, outflows from miners have decreased.
