Overview

Bitcoin's price surged past $62,000, leading to an overall rebound in the crypto market. Grayscale launched Bittensor and Sui trust products, resulting in significant price increases for SUI and TAO.

Daily Macro

Bitcoin Market After a brief fluctuation, Bitcoin strongly rebounded, breaking through $62,000 with an increase of over 10%, leading to an overall recovery in the cryptocurrency market. Both ETH and SOL also saw gains of more than 10%.

Bitcoin ETF Preliminary reports on August 9 showed a net inflow of $34.96 million.

Ethereum ETF Preliminary reports on August 9 showed a net outflow of $14.61 million.

Macroeconomic Data According to data from the U.S. Department of Labor, the number of initial unemployment claims fell by 17,000 to a seasonally adjusted 233,000 for the week ending August 3, marking the largest drop in nearly 11 months. The decrease in unemployment benefit applications last week alleviated market concerns about an economic recession and the extent of the Federal Reserve's policy measures.

Daily Focus

SUI & TAO

Reason for Focus: Grayscale has launched two new crypto investment products: the Grayscale Bittensor Trust and the Grayscale Sui Trust. The former invests in Bittensor's native token TAO, while the latter focuses on the Sui protocol's SUI token. These two new trusts join Grayscale's list of 18 crypto investment products.

Market Outlook: Grayscale's launch of new crypto investment trusts may further boost investor interest in Bittensor and Sui, especially as these two projects are seen as innovators in their respective fields of decentralized AI and smart contract blockchains. Encouraged by positive news and a market rebound, SUI rose by over 35% and TAO by over 20%.

Next Focus

Genesis

Reasons for Focus: Cryptocurrency lending institution Genesis Global and its affiliates have completed bankruptcy restructuring and have begun distributing approximately $4 billion in digital assets and dollars to repay creditors. Creditors can expect to recover an average of 64% in physical cryptocurrency repayments, although the exact percentage varies depending on the type of cryptocurrency.

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

CoinEx Daily：Bitcoin Surges Past $62,000; Grayscale Adds Bittensor and Sui Trusts