TRANSCRIÇÃO 🔗
1
00:00:00,000 --> 00:00:05,679
Welcome to another episode of Bitcoin & AI Data
Centers, the podcast where we dive deep into
2
00:00:05,679 --> 00:00:10,160
the worlds of data centers, artificial
intelligence, and everything Bitcoin and
3
00:00:10,160 --> 00:00:10,660
cryptocurrency.
4
00:00:11,919 --> 00:00:17,984
I am your host, Roni, reporting from a secret
location in Wakanda, and who knows, maybe
5
00:00:17,984 --> 00:00:20,164
Satoshi Nakamoto is listening in!
6
00:00:21,265 --> 00:00:26,085
Today, we have a fascinating lineup of stories
to cover, starting with a significant
7
00:00:26,144 --> 00:00:29,629
development in the world of Bitcoin
exchange-traded funds.
8
00:00:32,890 --> 00:00:39,689
On Friday, United States-based spot Bitcoin
exchange-traded funds saw a remarkable inflow
9
00:00:39,689 --> 00:00:42,884
of $252 million.
10
00:00:42,884 --> 00:00:48,085
This marks the highest single-day value in one
month and continues a seven-day streak of
11
00:00:48,085 --> 00:00:49,465
positive net inflows.
12
00:00:50,164 --> 00:00:57,759
The total value of these funds has now reached
around $58.4 billion, the highest so far in
13
00:00:57,759 --> 00:00:58,259
August.
14
00:00:59,119 --> 00:01:04,879
This streak has been particularly beneficial
for the largest spot Bitcoin exchange-traded
15
00:01:04,879 --> 00:01:11,344
fund by total asset value, BlackRock's IBIT,
which logged the largest net inflow of
16
00:01:11,344 --> 00:01:15,025
approximately $87 million.
17
00:01:15,025 --> 00:01:21,265
Other notable inflows include Fidelity’s FBTC,
which saw $64 million, making it the
18
00:01:21,265 --> 00:01:23,204
second-highest inflow for the day.
19
00:01:23,739 --> 00:01:31,099
Grayscale’s Bitcoin Trust, known as GBTC,
experienced an outflow of $35 million, the only
20
00:01:31,099 --> 00:01:32,319
fund to do so.
21
00:01:32,780 --> 00:01:39,435
However, Grayscale’s Bitcoin Mini Trust, also
known as BTC, saw an inflow of $50 million,
22
00:01:39,435 --> 00:01:41,615
earning it the bronze medal for the day.
23
00:01:42,395 --> 00:01:49,812
Bitwise's BITB logged $42 million in net
inflows, while Ark and 21Shares’ ARKB saw $24
24
00:01:49,812 --> 00:01:51,650
million flow into the fund.
25
00:01:52,590 --> 00:01:55,810
VanEck's HODL logged a $14 million increase.
26
00:01:56,590 --> 00:02:03,870
Invesco's BTCO and Valkyrie's BRRR logged
inflows of $3 million and $2 million,
27
00:02:03,870 --> 00:02:08,235
respectively, with the remaining tradable funds
seeing no significant change.
28
00:02:09,495 --> 00:02:09,694
While Bitcoin exchange-traded funds are on a
winning streak, the story is quite different
29
00:02:09,694 --> 00:02:17,754
for Ether exchange-traded funds.
30
00:02:18,610 --> 00:02:23,270
Ether funds have been experiencing a seven-day
streak of net outflows.
31
00:02:24,610 --> 00:02:31,825
On Friday alone, these funds saw an outflow of
$5.7 million, bringing the total outflows since
32
00:02:31,825 --> 00:02:35,185
August 15 to nearly $99 million.
33
00:02:35,185 --> 00:02:40,865
Grayscale's ETHE experienced a significant
outflow of $9.8 million, which sent the total
34
00:02:40,865 --> 00:02:41,764
into the negative.
35
00:02:42,224 --> 00:02:50,479
However, VanEck's ETHV gained $2.0 million in
inflows, and Bitwise's ETHW netted $1.4
36
00:02:50,479 --> 00:02:51,419
million.
37
00:02:51,419 --> 00:02:58,644
Fidelity's FETH logged about $700,000, with the
remaining funds seeing no significant change in
38
00:02:58,644 --> 00:02:59,144
assets.
39
00:03:00,485 --> 00:03:06,324
Despite the outflows, the total net assets of
the combined Ether funds have reached their
40
00:03:06,324 --> 00:03:11,760
highest level since August 2, thanks to
fluctuations in the price of Ether.
41
00:03:12,379 --> 00:03:19,740
So, while the net inflows and outflows tell one
story, the price dynamics add another layer of
42
00:03:19,740 --> 00:03:21,360
complexity to the narrative.
43
00:03:22,864 --> 00:03:29,264
Polygon has regained control of its community
Discord server after a hack that resulted in
44
00:03:29,264 --> 00:03:35,044
the theft of approximately $145,000 in assets
from one user.
45
00:03:35,770 --> 00:03:41,370
The attack occurred just as Polygon is
preparing for a major mainnet upgrade scheduled
46
00:03:41,370 --> 00:03:48,330
for September 4, which will transition its
native token from MATIC to a new token known as
47
00:03:48,330 --> 00:03:48,830
POL.
48
00:03:50,004 --> 00:03:55,465
The incident happened early Saturday morning
and lasted for about four hours.
49
00:03:56,085 --> 00:04:02,245
During this time, a fraudulent message was
posted on the Discord server, appearing to come
50
00:04:02,245 --> 00:04:05,760
from the account of Polygon's community lead,
Smokey.
51
00:04:06,540 --> 00:04:12,159
The message falsely advertised a 'special
pre-migration' airdrop ahead of the network's
52
00:04:12,219 --> 00:04:15,439
token migration and included a phishing link.
53
00:04:15,900 --> 00:04:21,235
At least one user fell victim to this scam,
losing a Uniswap position worth roughly
54
00:04:21,235 --> 00:04:23,314
$145,000.
55
00:04:23,314 --> 00:04:30,115
Polygon’s Chief Information Security Officer,
Mudit Gupta, quickly alerted the community to
56
00:04:30,115 --> 00:04:33,495
the hack via a post on X, formerly known as
Twitter.
57
00:04:33,759 --> 00:04:38,180
The post was subsequently reposted by Polygon's
official X account.
58
00:04:38,720 --> 00:04:44,399
Despite this swift action, the transfer of the
stolen assets occurred about 40 minutes after
59
00:04:44,399 --> 00:04:45,300
Gupta’s alert.
60
00:04:46,654 --> 00:04:52,175
Interestingly, blockchain data reveals that the
wallet address used in this hack has been
61
00:04:52,175 --> 00:04:54,274
involved in previous phishing attacks.
62
00:04:55,214 --> 00:05:03,250
Just ten days ago, the wallet transferred ether
worth $72,300 to another wallet flagged by
63
00:05:03,250 --> 00:05:05,509
Etherscan as a phishing
Load full transcript
perpetrator.
64
00:05:06,290 --> 00:05:10,870
This flagged wallet now holds nearly $400,000
in assets.
65
00:05:11,490 --> 00:05:18,615
Additionally, five days ago, the same wallet
transferred $29,500 worth of ether to a
66
00:05:18,615 --> 00:05:23,754
different flagged wallet, which currently has
$150,000 in assets.
67
00:05:25,095 --> 00:05:29,750
Polygon’s team is still investigating the exact
method through which the Discord server was
68
00:05:29,750 --> 00:05:30,250
compromised.
69
00:05:30,949 --> 00:05:35,129
According to Gupta, it is unlikely that any of
the moderators were phished.
70
00:05:35,670 --> 00:05:39,449
Instead, the team suspects that a bot or
integration was compromised.
71
00:05:40,835 --> 00:05:45,395
Gupta also mentioned that a postmortem report
would be released following a thorough review
72
00:05:45,395 --> 00:05:46,295
of the hack.
73
00:05:47,235 --> 00:05:53,495
In the meantime, all external bots and
integrations have been disabled on the Discord
74
00:05:53,555 --> 00:05:56,169
server as a precautionary measure.
75
00:05:56,790 --> 00:06:03,669
Polygon has assured its community that they
have regained access and secured the server to
76
00:06:03,669 --> 00:06:05,449
prevent any future attacks.
77
00:06:06,149 --> 00:06:13,805
The team is also performing a security review
of each bot and integration to ensure that such
78
00:06:13,805 --> 00:06:15,504
incidents do not recur.
79
00:06:16,845 --> 00:06:24,524
This hack comes at a critical time for Polygon,
as the network is gearing up for its mainnet
80
00:06:24,524 --> 00:06:28,050
upgrade and the launch of the new POL token.
81
00:06:29,709 --> 00:06:35,470
Despite the setback, the Polygon team seems
committed to ensuring that the upcoming
82
00:06:35,470 --> 00:06:38,689
transition is smooth and secure for all users.
83
00:06:40,115 --> 00:06:41,654
Now, let's talk about Solana.
84
00:06:42,514 --> 00:06:48,194
Solana's price has seen a sharp rally,
mirroring similar upside moves in the broader
85
00:06:48,194 --> 00:06:49,334
cryptocurrency market.
86
00:06:50,194 --> 00:06:51,254
The main catalyst?
87
00:06:51,714 --> 00:06:57,699
Federal Reserve Chair Jerome Powell's
surprisingly dovish outlook, which has raised
88
00:06:57,699 --> 00:07:00,439
the likelihood of interest rate cuts in the
coming months.
89
00:07:01,620 --> 00:07:08,199
As of August 24, Solana's price has risen by
around 10 percent in the past 24 hours,
90
00:07:08,585 --> 00:07:12,425
reaching $158.85.
91
00:07:12,425 --> 00:07:18,025
This surge follows Powell's strongest
indication in years that the Federal Reserve's
92
00:07:18,025 --> 00:07:21,805
efforts to combat inflation have largely been
successful.
93
00:07:22,689 --> 00:07:27,889
His comments have fueled speculation about
forthcoming interest rate cuts, with bond
94
00:07:27,889 --> 00:07:36,524
traders now seeing a 76 percent probability of
a 25 basis point rate cut in September, up from
95
00:07:36,524 --> 00:07:40,704
64 percent before Powell's speech at Jackson
Hole.
96
00:07:41,245 --> 00:07:47,584
There is also a 24 percent possibility of a 50
basis point rate cut in the same month.
97
00:07:48,860 --> 00:07:53,439
So, why does this matter for Solana and the
broader cryptocurrency market?
98
00:07:54,139 --> 00:08:00,540
Powell's dovish outlook has led to a decline in
yields for both short and long-dated United
99
00:08:00,540 --> 00:08:01,995
States Treasury notes.
100
00:08:02,714 --> 00:08:08,574
Lower yields reduce the opportunity cost of
holding government bonds, prompting investors
101
00:08:08,714 --> 00:08:13,214
to seek opportunities in non-yielding assets
like stocks and cryptocurrencies.
102
00:08:15,079 --> 00:08:19,740
In the past 24 hours, Solana has shown strong
performance, reflecting these macroeconomic
103
00:08:20,120 --> 00:08:20,620
fundamentals.
104
00:08:21,800 --> 00:08:27,000
Data from TradingView shows that Solana's open
interest and funding rates in the futures
105
00:08:27,000 --> 00:08:28,459
market have also risen.
106
00:08:29,115 --> 00:08:36,575
Open interest on August 24 was $2.19 billion,
up from $2.09 billion a day earlier.
107
00:08:37,195 --> 00:08:44,210
Funding rates, calculated every eight hours,
have also increased to 0.0054 percent from
108
00:08:44,210 --> 00:08:46,070
0.0028 percent.
109
00:08:47,490 --> 00:08:51,910
The growth in open interest suggests that more
traders are entering the market.
110
00:08:52,769 --> 00:08:58,345
The shift from negative to positive funding
rates indicates greater demand for long
111
00:08:58,345 --> 00:09:03,485
positions, meaning traders are optimistic about
Solana's continued price appreciation.
112
00:09:04,904 --> 00:09:10,125
This optimism is likely fueled by expectations
of potential interest rate cuts.
113
00:09:11,460 --> 00:09:17,399
Technically, Solana's rally is part of a
broader rebound movement within its prevailing
114
00:09:17,460 --> 00:09:19,080
symmetrical triangle pattern.
115
00:09:19,700 --> 00:09:25,504
This pattern forms when the price consolidates
within a narrowing range, marked by a
116
00:09:25,504 --> 00:09:30,164
descending trendline of resistance and an
ascending trendline of support.
117
00:09:31,105 --> 00:09:37,190
As of August 24, Solana bounced from the
triangle's lower trendline and is eyeing its
118
00:09:37,190 --> 00:09:43,610
upper trendline at around $175 as an interim
upside target for September.
119
00:09:44,870 --> 00:09:50,815
If Solana breaks above the triangle's upper
trendline, and this move is confirmed by a rise
120
00:09:50,815 --> 00:09:58,274
in trading volumes, the price could potentially
reach $325 by the end of 2024.
121
00:09:59,054 --> 00:10:03,475
That would be an increase of over 100 percent
from the current levels.
122
00:10:03,920 --> 00:10:10,399
However, it is essential to remember that every
investment and trading move involves risk, and
123
00:10:10,399 --> 00:10:14,500
you should conduct your own research before
making any decisions.
124
00:10:15,934 --> 00:10:18,034
And that wraps up today's episode.
125
00:10:18,654 --> 00:10:21,634
Thank you for tuning in to Bitcoin & AI Data
Centers.
126
00:10:21,934 --> 00:10:26,574
We covered a lot of ground, from Bitcoin
exchange-traded funds to the latest on
127
00:10:26,574 --> 00:10:31,889
Polygon's Discord hack, and finally, why
Solana's price is on the rise.
128
00:10:32,429 --> 00:10:34,690
Stay tuned for more insights and updates.
129
00:10:35,389 --> 00:10:39,329
Until next time, this is Roni, signing off from
Wakanda!