PA Daily | The Cardano community has approved a $71 million core development budget; the net inflow of Bitcoin spot ETF has ended after seven weeks.

Today’s News Reminder:

The Cardano community has approved a $71 million core development budget to enhance the prospects of ADA.

Last week, Bitcoin spot ETFs saw a net outflow of $643 million, ending a seven-week streak of net inflows.

Coinbase’s “SocialFi” has sparked a surge in Zora, with daily token issuance on the Base chain surpassing Solana.

Lido Co-founder: Decides to reduce the size of the contributor team, affecting about 15% of employees.

YGG established Onchain Guild and allocated 50 million YGG to the ecological fund pool to explore yield generation opportunities.

Binance: The BNSOL Super Staking will launch the twelfth project SIGN (SIGN)

CoinShares: Digital asset investment products have seen a net outflow for the first time in 15 weeks, with Bitcoin experiencing an outflow of $404 million this week.

Author of “Rich Dad Poor Dad”: If Bitcoin falls below $90,000 because of the “August curse,” I will double my investment.

opinion

Author of “Rich Dad Poor Dad”: If Bitcoin falls below $90,000 because of the “August curse”, I will double my investment.

Robert Kiyosaki, the author of “Rich Dad Poor Dad,” stated on social media that Bitcoin could drop below $90,000 due to the so-called “August curse.” He mentioned that if the price falls, he will double his Bitcoin holdings. He emphasized that the problem with Bitcoin does not lie within it, but rather with the trillions of dollars in debt in the U.S. and the management issues of the Federal Reserve and the Treasury. Additionally, Kiyosaki mentioned that he recently participated in several financial education events, learning about future trends from multiple experts in the investment field, and believes that a potential decline in Bitcoin will make most investors wealthier.

Analysis: Under the risk appetite in the later stage of the Bitcoin bull market, there will still be two rebounds in this cycle.

CryptoQuant analyst Axel Adler Jr pointed out that the Bitcoin bull market has entered its later stages, with investors’ risk appetite gradually declining. Data shows that related indicators broke through 1.9 in March and December 2024, but have recently formed a lower peak, with holders beginning to actively sell, putting pressure on the market. Although investors are still making profits, the marginal returns from each price increase are gradually decreasing. In light of the Federal Reserve’s expected two interest rate cuts this year, he predicts that there will be two more rebounds during this cycle, after which selling pressure may exceed demand, and the market may enter a correction phase.

CryptoQuant: BTC is currently approaching the $104,000 range, and the overall trend remains bullish.

According to CryptoQuant analyst Abramchart, long-term holders (LTH) of Bitcoin remain in a healthy profit zone (NUPL above 0.5), demonstrating strong confidence and willingness to hold. Short-term holders (STH), on the other hand, fluctuate near lower profit levels, indicating there might be some selling or short-term pressure during the price increase. Currently, the price of Bitcoin is close to the $104,000 area, primarily supported by the confidence of long-term holders. The overall trend still looks bullish, but short-term holders may trigger some phase adjustment pressure.

Analysis: Employment data slows down combined with seasonal weakness, Bitcoin breaks below key support.

According to an analysis by Matrixport, Bitcoin has fallen below the key technical support level of $112,000 in the past few weeks, leading to a shift in market sentiment. The analysis points out that this round of decline continues the seasonal weakness seen in August and is also affected by macroeconomic uncertainties arising from downward adjustments in labor market data. A similar situation occurred at the same time last year when the Federal Reserve unexpectedly cut rates by 50 basis points due to market pressures. The current market has priced in two rate cuts, with the first possibly occurring in September. Before improvements in economic and market fundamentals, risk assets may continue to show weak performance.

Project Updates

Binance Alpha will launch the Fireverse (FIR) token on August 6.

Binance Alpha will launch the Fireverse (FIR) token on August 6. Eligible users can claim the airdrop on the Alpha event page using Binance Alpha points after the trading starts.

YGG established Onchain Guild and allocated 50 million YGG to the ecological fund pool to explore yield generation opportunities.

The world’s largest decentralized gaming guild network, Yield Guild Games (YGG), announced the establishment of a new Onchain Guild and allocated 50 million YGG tokens (worth approximately $7.5 million) to the ecological fund pool for exploring yield generation strategies. YGG’s Onchain Guild adopts a decentralized structure, using only guild assets for exclusive trading and does not accept third-party capital or provide investment services. The ecological fund pool is jointly led by YGG’s Enterprise Development Manager Serge-Raymond Nzabandora and Enterprise Development Director Andy Chou, both of whom have extensive experience in technology investment and capital markets.

Holding at least 200 Binance Alpha points can claim 1000 DARK tokens airdrop.

Binance Alpha becomes the first platform to list the DarkStar (DARK) token, with Alpha trading starting on August 4, 2025, at 20:00 (Beijing time). During the event, users holding at least 200 Binance Alpha points can claim airdrops of 1000 DARK tokens on a first-come, first-served basis. If the event has not ended, the points threshold will automatically decrease by 15 points every hour.

Binance: The BNSOL Super Staking will launch the twelfth project SIGN (SIGN)

Binance announced that the BNSOL Super Staking will launch the 12th project - SIGN (SIGN), a multi-chain certification protocol that provides digital public infrastructure for governments and serves as a foundational layer for decentralized applications—verifying identity, proof of ownership, and contracts. From August 5, 2025, 08:00 to September 6, 2025, 07:59 (UTC+8), users who complete the relevant operations will receive the SIGN APR Boost airdrop rewards. Regarding decentralized BNSOL assets: To further improve the BNSOL ecosystem, Binance will extend the benefits of holding BNSOL from the trading platform to the decentralized world through the new decentralized BNSOL asset feature. In this BNSOL Super Staking, the supported decentralized BNSOL assets will be included in the APR Boost airdrop reward calculation.

Lido Co-founder: Decides to reduce the size of the contributor team, affecting about 15% of employees.

Lido co-founder Vasiliy Shapovalov stated on the X platform last weekend: “To ensure long-term sustainability, Lido Labs, the Lido ecosystem, and the Lido Alliance have made the difficult decision to reduce the size of the contributor team, with about 15% of employees being affected. This decision is not related to work performance, but purely based on cost considerations. It is a tough decision, but it is made with long-term resilience in mind. Although making such a decision during a market uptrend may seem counterintuitive, it reflects our strong commitment to sustainable growth, operational focus, and alignment with the interests of LDO token holders. Lido is laying the groundwork for development over the next several decades, and this adjustment will help solidify that foundation.”

Ripple: Banks have invested over $100 billion in blockchain infrastructure since 2020.

According to a report by CoinDesk, Ripple, CB Insights, and the UK’s CBT, digital assets are becoming mainstream, with traditional banks investing over $100 billion in blockchain since 2020. Despite regulatory uncertainties and market volatility, major banks are increasing their investments in custody, tokenization, and payment infrastructure. The report also found that 90% of the financial leaders surveyed believe these technologies will have a significant or huge impact on finance in the next three years. From 2020 to 2024, traditional financial institutions globally participated in 345 blockchain transactions. Payment-related infrastructure accounted for the largest share, followed by cryptocurrency custody, tokenization, and on-chain foreign exchange trading. About 25% of investments were concentrated on infrastructure providers supporting blockchain settlement and asset issuance.

Coinbase’s “SocialFi” has sparked a frenzy for Zora, with daily token issuance on the Base chain surpassing Solana.

According to CoinDesk, Dune analytics data shows that the Ethereum Layer 2 network Base, supported by Coinbase, has surpassed Solana in daily token issuance. This change is mainly driven by the decentralized social platform Zora, whose “Creator Coin” model converts content into tradable assets. Coupled with the transformation of the Base App under Coinbase into a SocialFi entry in July, the ZORA token has surged over 500% in the past month.

The Cardano community has approved a core development budget of $71 million, enhancing the prospects for ADA.

The Cardano community has approved a proposal named “IOE Roadmap” with a support rate of 74.01%. This proposal will utilize approximately 96,817,080 ADA (about 71 million USD) from the treasury to fund core protocol development, focusing on technological upgrades in scalability, developer experience, and interoperability.

Important data

CoinShares: Digital asset investment products have experienced net outflows for the first time in 15 weeks, with Bitcoin seeing outflows of $404 million over the week.

According to a report released by CoinShares, digital asset investment products experienced a net outflow of $223 million in the past week, marking the first negative value in 15 weeks. Despite recording an inflow of $883 million at the beginning of the week, the fund flows reversed later due to the Federal Reserve’s hawkish signals and strong U.S. economic data, with over $1 billion flowing out in a single day on Friday. Bitcoin led the decline with an outflow of $404 million during the week, but its year-to-date (YTD) net inflow remains at $20 billion, reflecting its high sensitivity to changes in monetary policy. Ethereum has recorded net inflows for 15 consecutive weeks, totaling $13.3 million. Other assets such as XRP ($31.2 million), Solana ($8.8 million), and SEI ($5.8 million) also performed well, while Aave and Sui recorded modest inflows of $1.2 million and $800,000, respectively.

Bitcoin spot ETFs saw a net outflow of $643 million last week, ending a seven-week streak of net inflows.

According to SoSoValue data, during the last trading week (Eastern Time from July 28 to August 1), Bitcoin spot ETFs experienced a net outflow of 643 million USD. The Bitcoin spot ETF with the highest net inflow last week was Blackrock’s Bitcoin ETF IBIT, with a weekly net inflow of 355 million USD, bringing IBIT’s total historical net inflow to 57.6 billion USD. Following that was VanEck ETF HODL, with a weekly net inflow of 9.13 million USD, currently HODL’s total historical net inflow stands at 1.14 billion USD. The Bitcoin spot ETF with the highest net outflow last week was Ark Invest and 21Shares’ ETF ARKB, which saw a net outflow of 444 million USD, while ARKB’s total historical net inflow is currently at 2.39 billion USD. Next was Fidelity ETF FBTC, with a net outflow of 354 million USD, currently FBTC’s total historical net inflow has reached 12.08 billion USD. As of the time of writing, the total net asset value of Bitcoin spot ETFs is 146.48 billion USD, with an ETF net asset ratio (the market value compared to Bitcoin’s total market value) of 6.46%, and the historical cumulative net inflow has reached 54.18 billion USD.

The market capitalization of USDe has risen to $9.293 billion, an increase of over 75% in the past month.

According to DeFiLlama, the market capitalization of Ethena’s synthetic stablecoin USDe has reached $9.293 billion, with a growth rate of 75.13% over the past month. USDe is currently the third largest stablecoin by market capitalization, following USDT and USDC.

( Financing/Merger

CACEIS, a subsidiary of Crédit Agricole, acquires a minority stake in Kriptown to support the launch of the blockchain exchange Lise.

CACEIS, the asset services arm of Crédit Agricole, has acquired a minority stake in the French fintech company Kriptown to support the launch of the blockchain exchange Lise. It is reported that Lise aims to simplify equity financing and listing processes for small and medium-sized enterprises and mid-sized companies, becoming the first tokenized exchange in Europe based on blockchain. The platform is currently awaiting approval for the DLT trading and settlement system under the EU pilot program, which, if approved, will allow companies to issue, trade, and settle financial instruments directly on the distributed ledger, significantly reducing the time and cost of traditional IPOs. The first IPO is expected to launch in 2025.

Institutional Holdings

Japanese nail salon chain Convano Inc plans to hold 21,000 bitcoins by the end of March 2027.

According to NLNico, the Japanese nail salon chain Convano Inc announced plans to hold 21,000 bitcoins by the end of March 2027 and raise 2 billion yen (approximately 13.54 million USD) in August to acquire more bitcoins. The company has purchased approximately 165 bitcoins within two weeks of launching its bitcoin reserve strategy.

The Japanese listed company Metaplanet invested approximately $53.7 million to increase its holdings by 463 Bitcoins.

According to an official announcement, the Japanese listed company Metaplanet has invested approximately $53.7 million to repurchase 463 bitcoins at a price of about $115,895 each. As of early 2025 to date, its bitcoin return on investment has reached 459.2%. As of August 4, 2025, the company holds 17,595 bitcoins, with a purchase cost of approximately $1.78 billion and an average purchase price of about $101,422 per bitcoin.