Bitcoin (BTC) extended its mild decline, trading at around $63,090 on Aug. 17. The BSC-based meme coin “Niu Lai” retreated after its market cap surpassed $40 million. “Niu Lai” sparked a bizarre movie-watching frenzy: on its opening day, the film had 251 screenings but was watched by only 122 people. Ethereum developers are currently reviewing 66 proposals to narrow the scope of Hegotá, the next major Ethereum upgrade.
Macro Events & Crypto Hotspots
- According to GMGN data, the market cap of the BSC-based meme coin “Niu Lai” stood at $31.8 million on Aug. 17, after surpassing $40 million at its peak to set an all-time high. Its 1-hour gain reached 18.71%, while its 24-hour gain narrowed to 70.56%. The Chinese domestic abstract animated film “Niu Lai” went viral, fueling “coin speculation” sentiment while the market was closed on Sunday.
“Niu Lai” recently sparked a bizarre movie-watching frenzy. On its opening day, the film had 251 screenings but was watched by only 122 people, earning ¥3,420 at the box office. Its cumulative box office after 10 days was only ¥7,705, with the highest number of viewers in a single day reaching just over a dozen. However, “Niu Lai” is still being screened, and its box office has skyrocketed from several thousand yuan initially to several million yuan. Some scenes in the film struck a nerve with investors: Niu Lai tripped and cried, and Niu’s mother asked, “Niu Lai, why are you crying?” Niu Lai said he had tripped over a stone, and his mother replied, “Silly child, that’s a tripping stone; even dogs won’t touch it.”
- Cointelegraph reported that Ethereum developers are currently reviewing 66 proposals to narrow the scope of Hegotá, the next major Ethereum upgrade. Some of the proposals aim to add more privacy features to the protocol. FOCIL is currently the only Ethereum Improvement Proposal (EIP) planned for inclusion in the upgrade. In a post published on X on Sunday, Ethereum Foundation contributor Toni Wahrstätter wrote that frame transactions (EIP-8141), key nonces (EIP-8250), and recent roots for frame transactions (EIP-8272) should also be included in the upgrade to “unlock native privacy, allowing privacy applications to operate without relying on intermediaries.”
FOCIL, short for Fork-Choice Enforced Inclusion Lists, aims to allow validator committees to force pending transactions into blocks, improving the network’s censorship resistance, while other proposals could provide protocol primitives for privacy applications. Core developers plan to release the Hegotá upgrade next year. The next Ethereum core developer meeting will have a significant impact on Ethereum’s development direction in 2027. Proposals not selected for Hegotá may be reconsidered for later upgrades.
News Updates
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CryptoQuant analyst: Large UNI outflows from Binance hit a record high, signaling strong accumulation
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South Korean stock markets closed for one day due to a substitute holiday for Liberation Day
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Stripe acquires AI company OpenRouter for more than $7 billion
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Garrett Jin allegedly sold 17 million WLFI; holding more than 300 million WLFI for five months has resulted in a floating loss of $13 million
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CZ donated 1,440 BNB and 182.62k Binance Life tokens to Giggle Academy, worth approximately $965k
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Sports event prediction platform Novig sues Wisconsin attorney general over event contracts
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UBS significantly increased its Bitcoin exposure in Q2, while its holdings of related ETF call options surged 24-fold
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SafePal questioned over allegedly concealing a vulnerability for months, with some users already targeted in phishing attacks
Market Trends
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Latest Bitcoin news: $BTC extended its mild decline, trading at around $63,090, with $14.66 million liquidated over the past 24 hours, mainly from long positions;
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U.S. consumer data unexpectedly declined, and U.S. stocks retreated from their all-time highs on Aug. 14. Over the coming week, attention should be paid to the earnings reports that retailers will release in succession and whether they reveal signs that the U.S. economy may be weaker than expected. As for whether semiconductor stocks can continue rising, it will depend on whether NVIDIA’s earnings report at the end of the month can support currently elevated valuations. The Dow Jones Industrial Average fell by approximately 108 points, or 0.2%; the S&P 500 fell 0.2%, retreating from the all-time high set the previous day; and the Nasdaq Composite fell 0.3%.
(Source: Gate)
- On the Gate BTC/USDT liquidation map, based on the current level of 62,910 USDT, if the price falls to around $62,410, cumulative long liquidations will exceed $69.08 million; if it rises to around $63,588, cumulative short liquidations will exceed $80.12 million. Short liquidations exceed long liquidations. Traders are advised to manage leverage appropriately to avoid triggering large-scale liquidations amid market fluctuations.
(Source: Coinglass)
- Over the past 24 hours, BTC spot inflows were $435 million, outflows were $416 million, and net outflows were $19 million.
(Source: Coinglass)
- Over the past 24 hours, $BTC, $SNDK, $XAU, $XAG, $HYPE , and other contracts led in net outflows, presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）: “My judgment on Bitcoin has still been fairly accurate. It continued to fluctuate around $63,000 over the weekend, and especially after looking at the 13F data, we can see that although BTC’s price was weak in the second quarter, large investment institutions did not reduce their ETF holdings at all. Instead, some institutions increased their positions. Combined with the overall ETF data, it is clear that investors have strong interest in the area around $60,000.”
“Two Dual Investments expire on Monday, and both are Sell High positions, with both selecting $65,000. I actually regretted it as soon as I confirmed them on Friday; I should have chosen a lower price. My main concern was that Trump might cause trouble over the weekend. So on Monday, I will most likely adjust to $64,000 first and see how things develop. For now, it seems unlikely that the U.S. and Iran can reach an agreement, so the Strait of Hormuz probably cannot be reopened smoothly yet.”
“Moreover, next Monday is the final day of the temporary ceasefire between the U.S. and Iran. This treaty probably will not be renewed, but I still think the probability of a full-scale conflict breaking out is too low. The U.S. may at most launch a few localized strikes, while Iran will continue to put up a tough front. Iran and Oman have now reached an agreement, and the new routes and plans for the Strait of Hormuz should also be ready. The question is whether they can operate independently of the U.S.”
“Although I don’t think it is very likely, there is currently no better solution. If I were Trump, I would definitely be extremely frustrated. Fight, then—the U.S. can certainly win, but for a theocratic state, being defeated and being intimidated are two completely different concepts. Let’s see what Trump does.”
Today’s Outlook
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China’s foreign exchange reserves at the end of July (USD billions), previous reading: 3416.00
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China’s July total retail sales of consumer goods (YoY), previous reading: 1.0%
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China’s July industrial value-added above designated size (YoY), previous reading: 5.30%
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Canada’s July core Consumer Price Index—common measure (YoY), previous reading: 2.6%
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Canada’s July Consumer Price Index (YoY), previous reading: 2.8%
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U.S. August NAHB Housing Market Index, previous reading: 34
