Overview

Bitcoin experienced significant price volatility, briefly dropping below $50,000 before rebounding to fluctuate between $55,000 and $56,000. Asia-Pacific stock markets plummeted across the board. Aave earned $6 million during market crash liquidations.

Daily Macro

Bitcoin Market Bitcoin briefly dropped below $50,000, reaching a low of $49,000, with a single-day decline exceeding 10% at its peak. It has now rebounded and is fluctuating between $54,000 and $55,000.

Bitcoin ETF Preliminary reports on August 6 showed a net outflow of $168 million.

Ethereum ETF Preliminary reports on August 6 showed a net outflow of $1.64 million.

Macroeconomic Data The Asia-Pacific stock markets experienced a widespread crash on "Black Monday," with the stock exchanges in Japan, South Korea, and Turkey triggering circuit breakers. Market analysts pointed out that the Bank of Japan's interest rate hike led to a significant appreciation of Yen, which in turn caused a sharp decline in the stock markets. Additionally, the U.S. non-farm payroll data fell short of expectations, further exacerbating concerns about a potential recession in the U.S. economy.

Daily Focus

Aave

Reason for Focus: Aave demonstrated strong resilience in the DeFi sector by remaining profitable during the market crash. On "Black Monday," Aave earned $6 million through user liquidations, showcasing its ability to generate revenue and maintain market leadership amid market turmoil.

Market Outlook: The Total Value Locked (TVL) in the DeFi market dropped from $100 billion at the beginning of the month to $71 billion, indicating heightened risk aversion among market participants. On "Black Monday," the overall crypto market saw a significant decline, with liquidations exceeding $1 billion, including $350 million in DeFi protocols. However, platforms like Aave managed to secure substantial income through the liquidation process, highlighting their risk management capabilities and profit potential.

Next Focus

Jump Trading

Reasons for Focus: Jump Trading's large-scale sell-off of Ethereum has attracted widespread market attention and speculation. Possible reasons for this sell-off include market panic, deteriorating macroeconomic conditions, increased regulatory pressure, or rising market volatility.

How to Participate: Ordinary users can track Jump Trading's wallet addresses' transaction activities and asset portfolio changes through blockchain explorers and data analysis platforms. This allows them to respond to the potential impacts of Jump Trading's market behavior.

CoinEx Daily：Bitcoin falls below $50,000; Aave Earns $6 Million During Market Crash