Major events in the cryptocurrency circle on August 7, 2024

● The net inflow of the US Ethereum spot ETF reached 99.8 million US dollars, the situation is improving, and a bullish trend has been formed.

● The Grayscale Ethereum spot ETF had a net outflow of 26% in 11 days. The outflow rate is expected to slow down. It is expected that the net outflow will be 50% in 50 days (until September 27), and the outflow rate will slow down again.

● Binance CEO Richard Teng said: Binance recorded a net inflow of 1.2 billion US dollars in the past 24 hours, and the dog dealer has bottomed out. This is one of the highest net inflows in 2024.

● The entity "7 Siblings" with $1.57 billion in assets quietly purchased 56,093 ETH at the bottom, with an average purchase price of $2,305.

● USDC Treasury minted 50 million USDC on the Ethereum chain, and issued additional u, which is a positive sign, and there is money to buy at the bottom.

● The founder of Amaranth Foundation bought 4,336 ETH on the chain 11 hours ago, worth $10.94 million, with an average price of $2,523.

● CryptoQuant CEO said: If BTC can hold on to $45,000, it is possible to break through the historical high again within a year.

● Tether Treasury transferred 50 million USDT to Bitfinex yesterday for bottom buying.

● Bank of Japan Governor Uchida said that if the market is unstable, they will not raise interest rates.

● SOL/ETH has hit a record high. Next, it is worth noting whether SOL/BTC can also hit a record high.

● 2024 International Cat Day, held on August 8 every year. The market usually regards such events as catalysts for meme coins (such as World Frog Day).