News

Jinse Finance reported on July 4 that, according to an official UniSat announcement, UniSat has temporarily suspended the Alkanes Marketplace to protect user assets due to the recent Alkanes protocol incident. UniSat stated that it is currently waiting for the Alkanes team to update the latest Alkanes indexer; once the indexer upgrade is complete and data consistency is confirmed, the Marketplace service will be reopened.

Odaily reported that, according to on-chain analyst Yujin's monitoring, under the continued correction in the crypto market, the overall market capitalization of USD stablecoins has decreased by about 10 billion dollars from previous highs, with the current total size maintained at around 300 billion dollars. Meanwhile, some funds are believed to have flowed into the U.S. stock market, which has exhibited stronger wealth effects this year. Latest quarterly data shows varying degrees of capital outflow among leading stablecoins: Tether (USDT): Total supply dropped from approximately 189.8 billion dollars to 184.1 billion dollars, net outflow of about 5.7 billion dollars USD Coin (USDC): Total supply dropped from about 79.6 billion dollars to 73 billion dollars, net outflow of about 6.6 billion dollars, making it the stablecoin with the largest outflow in this round USDC issuer Circle’s related tokens have been under pressure, and its stock price has also retreated from around 136 dollars to near 64 dollars, cooling market expectations for its growth. In contrast, stablecoin USD1 recorded a net inflow of about 500 million dollars during the same period, with total supply rising from around 4.1 billion dollars to 4.6 billion dollars, making it one of the few assets to experience contrarian growth. However, this growth is partially believed to depend on interest rate subsidy incentive mechanisms from trading platforms, such as activities on certain exchanges that guide user holdings and trading behavior.

Golden Ten Data reported on July 4 that European Central Bank Governing Council member Muran stated on Saturday that following last month's rate hike, data show inflation has fallen back along with the plunge in oil prices, putting the European Central Bank in a "favorable position" at present. The European Central Bank does not provide forward guidance, so it will not reveal what will happen in July. However, the fact is that the rapid decline in oil prices has brought some relief, allowing a more favorable stance on interest rates. Muran also said that compared with other central banks, the European Central Bank’s 2.25% interest rate is "very low" and the June rate hike was "reasonable under any circumstances." He also pointed out that the European Central Bank's communication at that time indicated this rate hike was not the start of a new tightening cycle.