Coinlive Morning Post - August 10

policy

▌Morgan Stanley's new PAVA indicator divides ETH users into "believers" and "speculators"

Morgan Stanley has introduced a new speculative metric — a tool called PAVA (Price Adjustment Volume Per Address) that uses speculation among traders to predict Ethereum (ETH) pricing. The indicator is calculated by dividing the cryptocurrency price in US dollars by the ratio of blockchain transaction volume to active wallet addresses (90-day average), which will allow investors to estimate the price trend of ether, especially during the During extreme market lows. The indicator differentiates between price swings based on market fundamentals and price swings based on network usage, and divides cryptocurrency market participants into two categories: believers and speculators.

cryptocurrency

▌Bitcoin lightning network network capacity breaks through 4500BTC, hitting a record high

According to data from the 1ML website, the number of Bitcoin Lightning Network nodes is 17,771, a year-on-year increase of 0.42%; the number of channels is 87,205, a year-on-year increase of 1.7%; the network capacity is 4,521.87BTC, a year-on-year increase of 7%.

▌Cryptocurrency trading platform Nuri files for bankruptcy and users can still get deposits

Cryptocurrency trading platform Nuri GmbH has filed for bankruptcy in Berlin, according to court documents. Nuri said the sell-off in the crypto market and the collapse of the Celsius Network ultimately led to the decision. According to Reuters, Nuri has said its users will still be able to access deposits.

▌Foreign exchange broker Oanda: If US inflation eases, Bitcoin may rise

Bitcoin could rise if Wednesday's CPI data shows that U.S. inflation eased in July, according to Oanda. Oanda analyst Craig Erlam said that weaker inflation data could be the catalyst for Bitcoin to break through $25,000/coin, and once again targeted the range of $28,000 to $32,000/coin. Never traded in this range. Given that core inflation is expected to rise, it will be difficult for the Fed to raise rates by less than 75 basis points without headline inflation slowing.

▌Anonymous crypto users send ETH to well-known crypto personalities through Tornado Cash

Someone sent small amounts of ETH from the sanctioned Tornado Cash wallet to various wallets belonging to well-known crypto individuals and celebrities. The move appeared to be some sort of protest against the agreement being hit by U.S. sanctions. As noted by Astaria CTO Joseph Delong (former CTO of SushiSwap), someone is sending 0.1 ETH to a series of crypto wallets, primarily wallets associated with ENS names and prominent crypto individuals.

important economic developments

▌Bank of England: The use of metaverse cryptocurrencies increases systemic risk

Bank of England staff said widespread adoption of crypto assets in a fully developed metaverse could pose systemic risks to financial stability and would require a "robust consumer protection" framework. Bank of England researchers Owen Lock and Teresa Cascino said in a blog post published on Tuesday that once established, decentralized digital worlds and platforms could host a large number of real-world economic transactions through encrypted tokens such as BTC and ETH.