In August 2024, spot trading volumes on CEX increased by 30%

The highest growth was seen on exchanges like KuCoin (171%), Cryptо.сom (79%), and MEXC (44%), indicating a significant increase in trading activity on these platforms. Upbit and HTX were at the bottom of the ranking with more modest results — 17% and 4%, respectively, which may suggest a less notable rise in interest for these exchanges in August.

Gate.io stood out as the only exchange to report negative trading volume dynamics, with a 44% decline. This may indicate liquidity issues or a user outflow from the platform, as competitors demonstrated growth.

The overall increase in spot trading volumes on centralized exchanges could signal a renewed interest from investors in cryptocurrencies following a quieter summer period. This may also be tied to increased market volatility and anticipation of upcoming events in the crypto industry.

The sentencing of former Alameda CEO Caroline Ellison is scheduled for September 24

A New York court will hear Ellison’s case, who has actively cooperated with the investigation, providing key testimony against her former partner, ex-FTX CEO Sam Bankman-Fried. Their personal and professional relationship has been a central aspect of the investigation, shedding light on Ellison’s involvement in financial misconduct.

Hearings for other defendants in the case, Nishad Singh and Gary Wang, are scheduled for October 30 and November 20, respectively. Both are accused of playing significant roles in the management of the business, which has become the focal point of one of the largest financial scandals in recent years.

Stablecoin USDT has become the “shadow dollar” for Venezuela and Russia

It facilitates the seamless transfer of capital abroad, as noted in a recent article by The Wall Street Journal.

The authors argue that Tether enables the creation of a “parallel economy” that operates outside the reach of U.S. law enforcement agencies. Due to the anonymity and decentralized nature of the stablecoin, users are able to bypass financial restrictions and sanctions imposed on traditional banking systems.

In 2023, USDT trading volumes surpassed those of the Visa payment system, highlighting its growing popularity as a tool for international transactions amid economic instability. The use of the stablecoin has become especially relevant in countries with strict currency controls, such as Venezuela and Russia, where access to the dollar is limited or restricted through official channels.

Ukraine and Russia ranked sixth and seventh in the 2024 Global Crypto Adoption Index

According to the analytics company Chainalysis, this indicates a high level of engagement in cryptocurrency operations in these countries.

The leaders of the ranking were India, Nigeria, Indonesia, the USA, and Vietnam, where cryptocurrencies continue to be actively integrated into the economy and everyday life. In addition to Ukraine and Russia, the top 10 also included the Philippines, Pakistan, and Brazil, highlighting the global nature of cryptocurrency adoption, especially in developing countries.

Chainalysis analysts recorded a sharp increase in cryptocurrency transaction volumes from the fourth quarter of 2023 to the first quarter of 2024, surpassing even the levels seen during the “bullish” 2021 when cryptocurrencies reached their peak values. Among the key factors driving this growth were the launch of a Bitcoin ETF in the United States, which made crypto assets more accessible to a broader…

The DEX segment continues to evolve amid increasing competition

It also shows promising potential for further growth, according to The Block. With the emergence of new players, the market is becoming more dynamic, driving improvements in user experience and the adoption of innovative solutions.

Uniswap’s market share has decreased from 55% to 37% over the past year, largely due to the rise of new platforms such as Aerodrome on Base and Orca on the Solana blockchain. These projects attract users by offering lower fees, faster transaction speeds, and unique features such as new liquidity models or incentive programs for participants.

Analysts note that Uniswap is facing regulatory pressure from the U.S., which poses additional risks to its growth. Meanwhile, smaller market players are capitalizing on the situation by offering innovative solutions and competitive advantages. This provides users with more choices and contributes to the overall development of the decentralized finance…

Market Expectations Regarding the Fed Meeting

According to Polymarket, the probability that the Fed will lower the interest rate by 25 basis points is estimated at 89%. Before the inflation data was published, this figure was 74%, indicating increased investor confidence in a dovish monetary policy.

A 50 basis point rate cut is estimated at 10%, but this scenario is considered unlikely given current macroeconomic indicators and signals from regulators.

According to forecasts from the CME exchange, the likelihood of a 25 basis point cut is 71%, while a 50 basis point cut is 29%. This discrepancy with Polymarket’s forecasts may indicate varying degrees of confidence among market participants in the Fed’s policy easing.

Earlier, experts from 10x Research warned that a 50 basis point rate cut could negatively impact the cryptocurrency market, causing capital outflows and increased volatility. This is because significant monetary easing could undermine investor confidence in digital…

Bitcoin Will Reach a New All-Time High Regardless of the US Election Outcome

Standard Chartered analyst Jeff Kendrick believes that by the end of the year, Bitcoin will hit a new record, regardless of who becomes the president of the United States. He notes that the cryptocurrency’s price is influenced by global economic trends, including inflation and the growing demand for digital assets as a store of value.

According to his estimates, if Donald Trump wins, Bitcoin could rise to $125,000, due to more favorable business conditions and possible loosening of financial regulations. If Kamala Harris wins, Bitcoin is expected to reach $75,000, which may be linked to a more conservative economic policy and stricter cryptocurrency regulations.

Thus, regardless of the election outcome, Kendrick is confident that Bitcoin will continue to strengthen amid global economic uncertainty and increased interest in digital assets.

OpenAI will become 5-6 times smarter than the previous version

The OpenAI team has introduced a new series of o1 models, based on AI, which are capable of significantly improving the quality of user interactions. These models are trained to “spend more time reflecting on the answer, just like a human would,” allowing them to provide responses at the level of a PhD in the hard sciences. This approach aims to create more natural and meaningful conversations with users.

In addition to the main version, a budget-friendly model, o1-mini, was introduced, offering a similar level of intelligence but at a lower cost, making advanced technologies accessible to a wider audience.

ChatGPT Plus and Team users have already gained exclusive access to the new models, allowing them to be the first to experience the enhanced capabilities and features of the AI. A broader launch is expected soon, making OpenAI’s innovations available to users worldwide.