Key Takeaways
-
Macro Environment: An MIT report revealed that as much as 95% of companies have gained zero returns from their generative AI investments. The report shattered Wall Street’s optimism about AI and triggered a sharp sell-off in tech stocks. The Nasdaq closed down 1.46%, marking its second-largest drop since the tariff shock in April, while the S&P 500 fell for the third consecutive day.
-
Crypto Market: Bitcoin fell in tandem with tech stocks, dropping 2.88% in a single day, with its correlation to tech stocks rebounding significantly. The ETH/BTC ratio retreated to around 0.036, Bitcoin’s market dominance rose back to 60%, and altcoins broadly pulled back.
-
Outlook for Today:
-
Brazil to hold a hearing on Bitcoin strategic reserves on August 20
-
ZRO unlock: 8.53% of circulating supply (~$56.6M)
-
KAITO unlock: 10.87% of circulating supply (~$26.2M)
-
ZK unlock: 8.53% of circulating supply (~$56.6M)
-
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,411.36 | -0.59% |
| NASDAQ | 21,314.95 | -1.46% |
| BTC | 112,880.00 | -2.88% |
| ETH | 4,075.62 | -5.50% |
Crypto Fear & Greed Index: 44 (down from 56 in the past 24 hours), level: FEAR
Project Highlights
Trending Tokens: API3, OKB, MNT
-
API3 (+52%): Upbit listed API3/KRW and API3/USDT trading pairs, driving API3 up by over 70% in the short term. The rapid price surge attracted short positions, with API3 futures trading volume surging 652%, open interest up 188%, and funding rates remaining negative for an extended period.
-
SUI (-3%): Robinhood launched SUI spot trading. After a brief uptick, SUI fell back in line with the broader market.
-
BIO (-3%): Bithumb added a BIO/KRW trading pair.
Macro Economy
-
S&P affirms U.S. sovereign rating at “AA+/A-1+” with a stable outlook
-
U.S. Treasury Secretary: Tariff revenues will be used to repay U.S. debt and reduce deficit-to-GDP ratio
-
Trump again criticizes Powell, calls for Fed rate cuts
Industry Highlights
-
South Korea orders exchanges to suspend crypto lending services until new guidelines are issued
-
Wyoming issues the first state-level U.S. stablecoin, FRNT
-
Fed Governor Bowman: Supports Fed staff holding small amounts of crypto, believing the experience will help them better regulate financial markets
-
SEC Chair: Only a minority of crypto tokens qualify as securities
-
Tether appoints former White House Crypto Council Executive Director Bo Hines as Strategic Advisor
-
RWA firm Figure to go public on Nasdaq under the ticker “FIGR”
-
Paxos approved to issue PYUSD on the Stellar network
-
SkyBridge Capital plans to tokenize $300M of assets on Avalanche
This Week’s Outlook
-
August 20: Brazil hearing on Bitcoin strategic reserves; ZRO unlock 8.53% ($56.6M); KAITO unlock 10.87% ($26.2M); ZK unlock 8.53% (~$56.6M)
-
August 21: Fed to release minutes of its monetary policy meeting; 2027 FOMC voter and Atlanta Fed President Bostic to speak on the economic outlook
-
August 22: Powell to deliver a speech at Jackson Hole
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
