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BTC $63,131.97 +0.50%
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BNB $606.33 +0.05%
XRP $1.00 +0.43%
SOL $75.51 +0.34%
TRX $0.3320 -0.52%
DOGE $0.0699 +0.34%
ADA $0.1801 -0.28%
BCH $202.23 -1.69%
LINK $8.84 +1.68%
HYPE $55.95 -2.73%
AAVE $86.61 -0.56%
SUI $0.6784 -0.38%
XLM $0.1597 +0.76%
ZEC $489.05 +1.13%

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Gray Research Director: ETH and SOL may face supply contraction, and the reduction of inflation mechanisms will strengthen token scarcity

Grayscale Research Director Zach Pandl stated that the two major blockchain networks, Ethereum (ETH) and Solana (SOL), are considering adjusting their token economic models to enhance asset scarcity by reducing future token supply growth through lowering annual inflation rates. As important native assets supporting stablecoins and tokenized asset ecosystems, the prices of ETH and SOL are primarily determined by supply and demand dynamics. If the relevant code upgrade proposals are approved, under unchanged conditions, lower supply growth may provide support for token prices.According to Grayscale's analysis, if the relevant adjustments are implemented, the supply inflation rates of BTC, ETH, and SOL will continue to decline over the next five years. By the end of 2031, the annual inflation rates for Bitcoin and Ethereum are expected to be around 0.4%, and Solana around 1.1%, which is lower than gold's annual supply growth rate of about 1.8% and the U.S. CPI inflation level of about 3.3%. Currently, these token economic adjustments are still in the community discussion phase. Among them, the Solana-related proposal has gained broader support and has a higher likelihood of implementation; the Ethereum proposal still requires further discussion.If the adjustments are implemented, staking users may face reduced token rewards, as part of the staking income comes from the issuance of new tokens. However, due to the decline in the growth rate of circulating supply, the scarcity value of the tokens may increase, potentially providing price support. For ETH and SOL holders who do not participate in staking, they may benefit directly; the final returns for stakers will depend on the balance between the decrease in rewards and the increase in prices. Zach Pandl concluded that ETH and SOL are becoming important digital commodities supporting stablecoins and the tokenization of real assets, and the economic model adjustments aimed at reducing inflation may further strengthen their scarcity attributes.

The reward range for Gate Card points has been expanded, allowing card usage to unlock gold stablecoins and popular tokenized stock assets

According to official news, Gate will upgrade the Gate Card points reward program on August 14, 2026. After the upgrade, the assets that can be redeemed with Gate Card points will expand from primarily supporting USDT and GT to include USDT, GT, BTC, ETH, GUSD, as well as tokenized stock assets such as NVDAG, AAPLG, GOOGLG, SPCXG, TSLAG, MUG, SNDKG, and SKHYG, corresponding to Nvidia, Apple, Google, SpaceX, Tesla, Micron Technology, SanDisk, and SK Hynix. The newly added tokenized stock assets cover several popular fields such as AI, semiconductors, and consumer technology. After earning points through eligible daily spending, users can redeem mainstream crypto assets like BTC and ETH according to their preferences, or they can redeem corresponding tokenized stock assets like Nvidia, Apple, Tesla, and SpaceX. In addition, Gate Card points will also support the redemption of gold-backed stablecoins (XAUT), effectively enriching users' options for point redemption.The redemption ratio for Gate Card points remains at 100 points = 1 USDT equivalent asset, and points are permanently valid, with other core rules unchanged. Users can still earn cashback points through eligible Gate Card spending, with the cashback ratio continuing to be calculated based on the user's T0--T5 / VIP level. This upgrade will not affect the existing point acquisition mechanism but will provide users with more asset choices at the redemption end, expanding the application scenarios for Gate Card points. By upgrading the points reward program, Gate Card will further connect payment consumption with asset accumulation, offering users richer rights options and a more flexible asset management experience.

153 stolen addresses contain 132.95 BTC, and researchers are still unable to reproduce the Coldcard attacker's seed

According to monitoring by Bitcoin News, new research published by @PraveenPerera shows that Coldcard attackers seem to first identify addresses with vulnerabilities, then sort them by the amount of Bitcoin held, starting to transfer in batches from the addresses with the highest holdings. The transfer software used was relatively crude.One address had 225 spendable UTXOs, and the attackers extracted exactly the latest 200, leaving the earliest 25, which included a UTXO worth 0.16 BTC. This aligns perfectly with the limitation of a blockchain API investigated by researchers, which defaults to returning 200 records, indicating that the attackers may have failed to load the next page of data. The software even spent a UTXO of 294 satoshis, reportedly increasing the transaction fee by about 2040 satoshis, with the spent amount significantly higher than the value of the UTXO itself.The authors of the study believe that the builders of this tool may have a better understanding of the account balance system than of the Bitcoin UTXO model. Although the attackers seem to have obtained the complete seed of the victims, at least 75 BTC still remain in other addresses derived from the same seed. The biggest suspicion currently is that among the 153 stolen addresses, there are still 132.95 BTC, and researchers have been unable to reproduce the seed behind these addresses, so it cannot be ruled out that the attackers obtained undisclosed private device data or candidate data.

hot_img Xiaohongshu has created an "AI Shopping Guide" feature that directly pushes product cards and order links in conversation scenarios

According to an exclusive report from "Du Jia," Xiaohongshu is developing a brand new "AI Shopping Guide" feature, which relies on a conversational interaction model to directly push product cards and attach order jump links in Q&A scenarios. This project is led by Daoxuan (Pan Boyuan). As of the time of publication, Xiaohongshu has not responded.Previously, Xiaohongshu launched an AI summary feature in store reputation, and this AI shopping guide is a further extension of its intelligent transaction chain. According to public data, Xiaohongshu has approximately 400 million global MAU, with 39 million users engaging in explicit purchasing behavior daily, resulting in 140 million active purchase requests, over 47 million users entering merchant live streams, and more than 170,000 merchant group chats remaining active. During the 618 period, the GMV of store broadcasts increased by 265% year-on-year, and note content drove transaction growth of over 210%.Xiaohongshu currently adopts a dual transaction model of "internal marketplace closed loop plus external traffic diversion," and there is still room for improvement in the direct order conversion rate within the platform. The launch of the AI shopping guide feature is expected to further enhance its internal e-commerce GMV and revenue.

Coinbase once offered $2.5 billion to acquire BVNK, ultimately losing to Mastercard's $1.8 billion acquisition

The insider information about the acquisition of stablecoin infrastructure company BVNK by Mastercard for $1.8 billion has recently been revealed. BVNK's early investment firm Concentric disclosed that during the acquisition bidding process, the U.S. cryptocurrency exchange Coinbase once held an advantage and reportedly made a top bid of $2.5 billion, but ultimately withdrew from the competition due to insufficient strategic and cultural fit between the two parties.Kjartan Rist, founding partner of Concentric, stated that the founding team of BVNK did not only focus on the bid amount when choosing an acquirer, but placed more importance on long-term partnerships and cultural alignment. "Although Coinbase may have offered a higher price, the chemistry between the two parties was not ideal." In contrast, Mastercard, as a traditional financial services company, found it easier to form synergies with BVNK in the areas of payment infrastructure and stablecoin applications.It is reported that Mastercard was involved in the acquisition discussions for BVNK early on, and after Coinbase failed to advance the deal, Mastercard re-emerged as the primary buyer, ultimately completing the acquisition for $1.8 billion.Visa also participated in the competition. Having previously invested in BVNK and holding a board observer seat, Visa once had an advantage. However, Visa ultimately chose not to pursue a direct acquisition, opting instead for an open strategy of collaborating with multiple stablecoin companies.BVNK was founded in 2018 and primarily provides stablecoin payment, cross-border settlement, and fund management infrastructure for enterprises. Its early investor Concentric invested in the company at a valuation of $4 million in 2019, and this transaction has resulted in significant returns.

The cryptocurrency industry is once again debating "who should hold the private keys" due to the $130 million theft case involving the Coldcard wallet

A wallet security incident involving approximately $130 million in Bitcoin losses is reigniting discussions in the crypto industry about asset custody models: should Bitcoin holders rely on personal self-custody or turn to institutional custody? Hardware wallet manufacturer Coldcard had a vulnerability in its firmware in 2021 that led to some mnemonic phrases generated by the device being predictably risky. This vulnerability was discovered years later, and approximately 5,200 addresses and about 2,000 BTC have been stolen, with losses amounting to around $130 million.After the incident, some investors began to turn to Wall Street custody products. Data shows that the U.S. spot Bitcoin ETF saw a net inflow of about $626 million within days of the incident. Bloomberg ETF analyst Eric Balchunas stated that such security incidents could further drive funds into ETFs. However, the Bitcoin core community still insists on the self-custody concept. Casa co-founder Jameson Lopp stated that recent events should not undermine users' confidence in self-custody and pointed out that third-party custody also carries risks. Bitcoin Core early developer Peter Todd also believes that self-custody has a better long-term safety record than centralized institutions.Onramp co-founder Michael Tanguma believes that both options have flaws. He stated that concentrating a large amount of assets in a single institution creates a "honey pot," while hardware wallets face risks related to supply chains, firmware, and random number generation. Tanguma proposed a "multi-institution custody" solution, where multiple regulated institutions hold keys through a multi-signature mechanism, requiring multiple institutions to jointly sign any transaction to reduce single points of failure. However, this model has also sparked controversy. Critics argue that while multi-institution custody enhances security, it also introduces permissioned management, conflicting with the decentralized ideals originally pursued by Bitcoin. As Bitcoin gradually enters the fields of pensions, trusts, and institutional asset allocation, the industry is seeking new custody solutions suitable for long-term wealth management. The Coldcard vulnerability incident once again highlights that achieving a balance between security, decentralization, and usability remains a core challenge facing the Bitcoin ecosystem.
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