Subtle Rise in Unemployment Claims Raises Fed Rate Cut Speculation U.S. unemployment claims rose slightly this week, signaling potential early signs of labor market softening, even as overall job conditions remain relatively stable. According to data released Thursday, initial jobless claims increased to 218,000 for the week ending August 2, up by 1,000 from the prior week. The four-week moving average, which offers a clearer view of the underlying trend, fell to 221,000, slightly down from 224,500. While that’s generally a positive sign, experts warn that the broader trajectory shows gradual easing in job growth. “We’re seeing a slow erosion…
Author: Blockto Team
Trading on decentralized perpetual exchanges reached a historic milestone in July, with Hyperliquid recording $319 billion in monthly volume, setting a new all-time high across all DeFi perp platforms. The surge in activity underscores a notable shift away from centralized exchanges as more traders explore the advantages of decentralized trading venues. According to DeFiLlama data, the total monthly volume for DeFi perpetual futures rose to $487 billion, up from $364 billion in June—a 33% increase month-over-month. Hyperliquid alone accounted for a significant 65% of this total. In July, Hyperliquid earned 35% of all blockchain revenue, surpassing major networks like Ethereum,…
Strong Support Levels Hold, Eyes Set on $125K Resistance Bitcoin (BTC) has pushed past the $116,000 mark, reclaiming bullish momentum after a period of sideways consolidation. The move comes amid strengthening technical support zones and a renewed uptick in daily trading volumes, reflecting increased market confidence. As of August 7, BTC is trading at $116,735, up over 1.4% in the last 24 hours. The recovery is notable, as the asset bounced off the $110,000–$112,000 support level, which had previously acted as both resistance and a major structural pivot. “Bitcoin continues to respect key levels,” commented a market strategist. “The successful…
Build on Bitcoin (BOB), a Layer-2 blockchain project aiming to bring native Bitcoin into decentralized finance, has now raised $21 million in strategic funding since late 2024. The most recent $9.5 million round saw continued backing from existing investors like Castle Island and new participation from Anchorage, Amber Group, and sats Ventures. “We continue to believe that Bitcoin will be the bedrock of DeFi, and we think BOB will be a marquee L2,” said Nic Carter, founding partner at Castle Island. The funding will help BOB accelerate its mission to build native BTC DeFi applications, launch new infrastructure, and expand…
World Liberty Financial, a DeFi project affiliated with the Trump family, has announced plans for a USD1 loyalty points program, designed to reward users of its stablecoin through a structured incentive model. The program will initially roll out through select crypto exchange partners, including Gate, which was the first to confirm its participation. The company aims to address a long-standing gap in stablecoin utility — while these digital assets power payments, trading, and DeFi, users rarely receive direct benefits from their usage. How the USD1 Points Program Works According to World Liberty Financial, users will be able to earn points…
Just one day after Aave became the first DeFi protocol to surpass $60 billion in net deposits, the platform’s users were targeted in a phishing attack leveraging malicious Google Ads. The timing has raised concerns about security risks surrounding large-scale decentralized protocols. According to PeckShield, a blockchain security firm, the phishing campaign involved fake Aave investment platforms promoted through Google Ads, tricking users into linking their wallets to fraudulent sites. Once connected, scammers can gain access to user wallets and irreversibly drain assets. Milestone Followed by Malware Aave announced on Wednesday that it had reached $60 billion in net deposits…
The United Arab Emirates (UAE) has taken a major step toward establishing a nationally harmonized crypto regulatory framework. The Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA) have announced a strategic partnership aimed at aligning crypto regulations across all emirates. The agreement, which builds on a memorandum of understanding signed in 2024, introduces a joint regulatory mechanism to manage crypto licensing, compliance, and enforcement across jurisdictions. “In essence, the 2024 MoU was a starting point. The current partnership is its formal and functional implementation,” said a VARA spokesperson. Unified Framework, Shared Oversight Key elements of the…
Funding to support tokenization, mining, and crypto licensing amid strategic shift DL Holdings, a Hong Kong-listed financial services group, has announced plans to raise $83.2 million through share placements to accelerate its blockchain and digital asset initiatives. The funding comes as the company pivots deeper into Web3 infrastructure, asset tokenization, and mining. The move sparked an immediate market reaction, with DL Holdings’ stock dropping over 8% on Thursday, following disclosure of the placement deal. According to a regulatory filing, the shares will be sold at HK$2.95 each to at least six professional investors through placing agents. The same number of…
Strong Buying Activity and Technical Breakout Signal Renewed Bullish Momentum XRP surged past the $3.00 mark, registering a notable breakout that has caught the attention of both retail and institutional investors. This price movement, seen on the 4-hour chart, follows a period of consolidation and comes amid growing anticipation around a potential SEC appeal decision regarding Ripple Labs. The sharp move pierced through multiple resistance levels and coincided with an uptick in trading volume, particularly noticeable on Asian exchanges. Market participants are closely watching the $3.00 zone, as it acts as a critical psychological and technical level. “A break above…
New Conversion Fees Aim to Offset Operational Costs as Revenue Misses Targets Coinbase will begin charging a 0.1% fee for net USDC-to-USD conversions over $5 million, marking a significant change in how the exchange handles large stablecoin transactions. The update, effective August 13, comes amid growing pressure on the company to improve revenue after missing earnings expectations for two consecutive quarters. Previously, Coinbase allowed free USDC-to-USD conversions up to $40 million per 30-day period. But with the new policy, fee-free conversion is now capped at just $5 million. Beyond that, users will be charged based on a 30-day rolling net…
