Overview

The price of Bitcoin has surpassed $57,000 and is currently fluctuating around $56,000. Ripple Labs has been ordered to pay a fine of $125 million, which is significantly lower than the $2 billion proposed by the SEC.

Daily Macro

Bitcoin Market Bitcoin once rebounded to surpass $57,000 and is currently fluctuating around $56,000.

Bitcoin ETF Preliminary reports on August 8 showed a net outflow of $7.3 million.

Ethereum ETF Preliminary reports on August 8 showed a net outflow of $23.68 million.

Macroeconomic Data U.S. stocks opened higher and closed lower on Wednesday, with all three major indexes declining as investors continued to focus on the Federal Reserve's rate cut prospects and second-quarter earnings reports. A former Federal Reserve official stated that a timely rate cut is needed, and a 50 basis point cut might be expected at the September meeting.

Daily Focus

Ripple

Reason for Focus: Ripple Labs has been ordered to pay a fine of $125 million for the unregistered sale of XRP tokens, which is significantly lower than the amount demanded by the SEC. The court did not find any fraudulent behavior. Ripple views this as a major victory for the cryptocurrency industry and stated that they are able to pay the fine.

Market Outlook: Since the court ruled that Ripple's sales of XRP to institutional investors did not violate securities laws, this provides greater legal certainty for institutional participation in the cryptocurrency market and may attract more institutional investors to enter the market. Ripple's victory has significantly boosted XRP's market performance, and the market may view this as a positive signal for the cryptocurrency industry.

Next Focus

Plustoken

Reasons for Focus: Plustoken was a Ponzi scheme from 2018-19 that defrauded global investors of a large amount of cryptocurrency, including over 780,000 ETH. According to analysts, dormant wallets associated with the PlusToken scam moved some Ethereum on Wednesday, but the purpose of these transfers is uncertain.

How to Participate: Regular users can track the movements of Plustoken wallets through blockchain explorers and data analysis platforms, which can help them respond to potential impacts on the market behavior.

CoinEx Daily：Bitcoin fluctuated around $56,000; Ripple was fined $125 million in a lawsuit against