💰 Solana daily transaction fees drop to multi-month low as memecoin hype cools

The total daily transaction fees paid on the Solana blockchain, measured in U.S. dollars, have fallen to a level not observed since early May 2024. On Monday, daily transaction fees on Solana dropped to $639,000 — representing a 65% decrease from this month's peak of $1.83 million on August 8 and an 87% decline from the all-time high of $5.08 million on March 18, according to The Block's Data Dashboard.

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🤓The Polymarket prediction service believes that the creator of Telegram will be released only in the fall, but with a 78% chance.

Meanwhile, Telegram is in the top downloads in France and according to rumors, Macron himself often uses the messenger .

🤝 @Cryptocurrency_Inside ✅

🟢 MakerDAO rebrands as Sky, unveils new USDS stablecoin and SKY governance token

MakerDAO has rebranded to Sky and announced the names of its upcoming upgraded tokens, USDS and SKY, set for September 18. The release of the names follows its recent confirmation of upgrades to its token ecosystem. The rebranding is part of MakerDAO’s “Endgame Plan,” a vision laid out by co-founder Rune Christensen aimed at transforming the structure of the DAO to enhance DeFi’s growth, accessibility, and resilience.

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💰 Nasdaq seeks SEC approval to list and trade bitcoin index options

Nasdaq, in partnership with CF Benchmarks, has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade Nasdaq Bitcoin Index Options (XBTX). Regulatory approval would enable investors to manage and hedge bitcoin positions using options that track the underlying asset through the CME CF Benchmarks Bitcoin Real-Time Index (BRTI). If approved, these bitcoin options would become the first cryptocurrency derivatives cleared by the U.S. Options Clearing Corporation (OCC).

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🪙 Vitalik Buterin advocates blockchain identity for fairer crypto airdrops

Ethereum co-founder Vitalik Buterin sees crypto airdrops as a promising initial use case for blockchain-based identity frameworks. In an Aug. 28 post on X, Buterin outlined the goals of airdrops as distributing tokens to genuine community members, rewarding project contributions, and ensuring fairness. He suggested that projects could leverage ZK-based identity, credential, and attestation frameworks to achieve these aims.

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🪙 Spot Ethereum ETFs end nine-day outflow streak with $5.8 million in net inflows

Spot Ethereum exchange-traded funds in the U.S. reported daily net inflows of $5.84 million on Wednesday, ending a nine-day streak of outflows. The Grayscale Ethereum Trust (ETHE) recorded a daily net outflow of $3.81 million, countered by inflows of $8.4 million into BlackRock’s spot ether fund and $1.26 million into Fidelity’s FETH, SoSoValue data showed.

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🪙 Ethereum ETFs show positive flows after 9-day losing streak

Spot Ethereum (ETH) exchange-traded funds (ETFs) in the US registered $5.9 million in net inflows on Aug. 28 after nine consecutive days of outflows, based on Farside Investors data. Grayscale Ethereum Trust (ETHE) registered $3.8 million in outflows yesterday, the smallest amount of cash leaving the fund since the spot Ether ETFs debuted in the US on July 23.

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💰 Bitcoin miner wallet balances continue to shrink

Bitcoin miners’ wallet balances have been on a steady decline since 2011, with the trend continuing into 2024. The first chart illustrates a significant reduction from an all-time high of over 2.5 million BTC in late 2011 to under 2 million BTC by mid-2024. This decline has been influenced by miners liquidating assets to cover operational costs, especially during periods of market volatility and post-halving events.

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🪙 Ethereum Foundation disburses $8.5M in grants for Q2, backing 98 projects

The Ethereum Foundation Ecosystem Support Program (EFESP) allocated a total of roughly $8.5 million to support 98 projects, according to the foundation’s inaugural grants allocation report published on Aug. 30. Although the report breaks down the projects by type, recipient, and contact, it does not provide a detailed breakdown of how much each project received.

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📊 Bitcoin ETFs log monthly loss, Ethereum ETFs are ignored after outflow streak

Despite an eight-day streak of positive net inflows, U.S. spot bitcoin exchange-traded funds logged a red candle for the month of August, logging a total net outflow of about $94 million. That sum is well within the bounds of a single good or bad day though, according to data from SoSoValue. Spot bitcoin ETFs netted over $250 million on Aug. 23, the best day for the funds this month, while the funds lost $237 million on their worst day, Aug. 2.

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💰 SEC warns FTX against paying creditors back in stablecoins, other crypto

Throughout the FTX bankruptcy, many different avenues have been explored or proposed to maximize creditor recovery, from relaunching the FTX exchange in order to make money back for creditors to distributing claims as tokens in a new venture that can be traded. Some decentralized marketplaces such as Found.xyz and Figure Markets even launched support for tokenized FTX claims trading this summer, in a move that one crypto CEO called "one of the most crypto things" he's ever seen.

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📊 Crypto exchange trading volumes continued upward trend in August

Trading volumes on centralized cryptocurrency exchanges increased in August, extending the growth that began in July after hitting a multi-month low in June. The Block's Data Dashboard reveals that monthly spot market volumes across global cryptocurrency exchanges, including Binance and Coinbase, reached $1.2 trillion in August, up from $1.12 trillion in July—a 6.6% increase. Binance captured the largest market share in August, with a trading volume of $448.45 billion.

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📊 Phishing scams dominate August’s $300M crypto losses – report

Blockchain security firm CertiK reported that crypto projects were exploited for a total of $310 million in August, the second-highest monthly total this year. The firm noted that $10.3 million of the stolen assets were recovered or returned, reducing the net loss to $300.6 million.

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👑 WazirX begins second phase of fiat withdrawals early, hackers begins moving funds

WazirX has begun the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3. The process was originally slated to begin on Sept. 9 and comes as the exchange faces the aftermath of a major security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty shared the update on social media and said the exchange is continuing to do all it can to restore access to customer funds.

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💰 Bitcoin ETFs see $287.8 million outflow, largest since May 1

Farside data shows that Bitcoin ETFs experienced a significant outflow of $287.8 million on Sept. 3, marking the largest outflow since May 1, when $563.7 million exited the market. Eight ETF issuers recorded outflows, highlighting a broad retreat from Bitcoin ETF investments. Among the hardest hit was Fidelity’s FBTC, which saw a $162.3 million outflow, and Grayscale’s GBTC, with $50.4 million leaving the fund. Bitwise’s BITB ETF lost $25.0 million, while ARK’s ARKB ETF experienced a $33.6 million outflow.

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🪙 Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant

Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said.

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