According to Lookonchain monitoring, Circle and Tether have minted $3 billion worth of stablecoins in the past 2 days, and liquidity is being injected into the crypto market.
Comparing news, according to Bitcoin.com, the decentralized derivatives trading platform Hyperliquid's native token HYPE is close to $73. Crypto trader Pentosh1 said that its fee burning mechanism will expand after the AQAv2 upgrade, which may support its continued performance in the next round of the bull market. Hyperliquid has destroyed 462 million HYPE units through repurchases since November 2024, worth approximately $1.27 billion, and approximately 99% of agreement fees are used for repurchases. The platform's annualized agreement revenue is currently around $600 million to $950 million. AQAv2, or Aligned Quote Asset v2, plans to import approximately 90% of the platform's USDC reserves of more than US$5 billion into the Assistance Fund on August 26, and the first payment is expected to arrive on October 3. Market participants estimate that AQAv2 can add an additional $135 million to $160 million in repurchases each year. Both Coinbase and Circle, which were designated as Hyperliquid's official USDC fund distributors in May, have pledged to pledge large-scale HYPE to help launch the mechanism.
Comparative news, according to MSX.COM data, the US cryptocurrency sector continued to rise at the beginning of the session. Circle rose more than 9%, Coinbase rose more than 7%, and Strategy rose more than 6%. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparing news, Circle CEO Jeremy Allaire said that the new proposed accounting rules will form an important strategic impetus for the adoption of digital dollars such as USDC. Allegedly, in conjunction with the GENIUS Act, the FASB rules will enable USDC to be widely used by businesses and financial institutions around the world, and this matter is strategically important.
Comparative news, according to the Financial Times, after US Treasury Secretary Bezent announced the expansion of long-term US bond repurchases, market hedging and currency depreciation transactions heated up, and assets such as Bitcoin and gold rose sharply. Bitcoin rose nearly 8% on Friday, with a cumulative increase of 24% this week. The price surpassed 78,000 US dollars, a new high since May this year, and is expected to record its best weekly performance in more than three years. Gold also performed strongly during the same period. It rose 1.5% to about 4,585 US dollars/ounce on Friday, with a cumulative increase of more than 13% in August, which is expected to be the biggest monthly increase since 1999. Market participants believe that the core factor driving the current market is the expansion of the US Treasury's long-term treasury bond purchase plan. US Treasury Secretary Scott Bessent said earlier that he would at least double the scale of long-term US debt repurchases. The measure reduced the yield on 30-year US Treasury bonds in the short term, but it also raised concerns about the decline in the purchasing power of the US dollar, and the dollar index continued to weaken thereafter. Jefferies chief European economist Mohit Kumar said that gold and crypto assets rose sharply after Bezent announced related measures, further supporting expectations of a weaker dollar. This rise has reignited currency depreciation transactions (Debasement Trade), where investors hedge against the risk of declining fiat currency purchasing power by allocating assets such as gold and bitcoin. Previously, the conflict between the US and Iran led to a rise in inflationary pressure, which once interrupted the logic of this transaction, but now the market has returned to expectations of liquidity easing. In addition to Bitcoin, Ethereum, Solana, and XRP have risen 29%, 17%, and 40%, respectively, over the past week. Previously, the crypto market continued to be sluggish since the fall of last year, and Bitcoin's biggest decline in the past year once reached 31%. Meanwhile, crypto-related stocks rose at the same time: Coinbase is up 16% this week, stablecoin issuer Circle is up 17%, and Bitcoin holding company Strategy is up 21%. Analysts pointed out that Bitcoin's rapid rise triggered a squeeze on bears, and large numbers of short positions were forced to close, further driving up the price. Furthermore, US President Trump's meeting with regulators and heads of crypto companies this week and the introduction of new crypto regulation proposals by the US Securities and Exchange Commission (SEC) were also viewed by the market as good for the industry. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparative news, according to MSX.COM data, the US crypto sector generally rose, Strategy rose 10.19%, Circle rose 6.69%, Coinbase rose 5.97%, Robinhood rose 5.64%, and BMNR rose 5.47%. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparing news, PUMP has continued to rebound since hitting a low of $0.001 at the end of June. It has risen about 19% in the past 24 hours and is close to $0.004, up 36% on the 7th, 98% on the 30th, and about 116% on the 90th. The crypto market has picked up in the past two days. Bitcoin once surpassed 79,000 US dollars. Some meme coins, such as PEOPLE, NEIRO, and BOME, are on the Binance rise list, which is in line with the common rhythm of market recovery and memes taking the lead. However, PUMP's rise was significantly earlier than the current market round, starting about two months earlier. PUMP's strong rise this time is driven by its fundamentals: Pump.fun is forming a positive feedback cycle of revenue, buyback, and traffic. On-chain data shows that in the past 30 days, the platform's processing fee was about US$38.15 million and revenue was about US$29.19 million, second only to Tether, Circle, and Canton, surpassing agreements such as Hyperliquid, Polymarket, GMGN, and Tron. The window that appeared in Gold Fork coincided with the re-acceleration of revenue, the continuous repurchase and destruction of PUMP, and the return of users trading on the platform. Pump.fun uses 50% of revenue to buy back and destroy PUMP. The recent weekly fee revenue surpassed $10 million (one of the best levels since the end of January), corresponding to potential buyback pressure of around $5 million. The platform recently launched Callout Rewards and reduced Solana transaction fees to 0% and cross-chain fees to 0.1%, using revenue advantages to subsidize traffic and compete with users of imported products such as GMGN and Fomo. If active weekly and daily active trading users continue to reach new highs, PUMP's market narrative may shift from a simple meme platform coin to a trading portal with high cash flow. Overall, this round of growth was driven by technical signals and positive feedback from fundamentals, with revenue scale and repurchase mechanisms being the core supporting factors.
Comparing news, on-chain data shows that stablecoin issuer Circle has just minted 250 million USDC each on the Solana chain twice, for a total of 500 million USDC. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparative news, according to MSX.COM data, the US crypto market generally rose, Strategy rose 9.33%, Circle rose 7.37%, Coinbase rose 7.18%, Robinhood rose 5%, and BMNR rose 8.15%. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparing the news, according to a CoinDesk report, a person familiar with the matter revealed that social media platform X is discussing how to use stablecoins (such as Circle's USDC) to pay royalties for content uploads to influential users. The person familiar with the matter said that negotiations with X are still ongoing. He also works on other social media platforms that are also testing the use of stablecoins to pay commissions to influential users.