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BTC $78,522.71 -0.52%
ETH $2,482.08 +0.78%
BNB $699.80 +0.13%
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SOL $96.46 -1.93%
TRX $0.3355 -1.04%
DOGE $0.0850 -3.87%
ADA $0.2064 -3.60%
BCH $261.64 -2.41%
LINK $11.29 -2.03%
HYPE $80.95 -2.11%
AAVE $123.92 -3.70%
SUI $0.7401 -4.91%
XLM $0.1799 -5.36%
ZEC $781.58 -1.38%

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Analyst: Bitcoin's on-chain capital inflow has turned positive for the first time in nearly 3 months, but demand intensity remains at historically low levels

CryptoQuant analyst Axel Adler Jr. stated that the on-chain capital flow of Bitcoin showed directional improvement in the second half of August. The realized market cap relative net position change rose to +0.1% on August 24, marking the first positive shift since May 28, and has further increased to +0.21% as of today, indicating that the nearly three-month net capital outflow status has ended.Meanwhile, the 30-day apparent demand/new supply ratio for Bitcoin has been above 1 for six consecutive days, with the latest figure at 2.52, meaning the 30-day apparent demand is approximately 2.5 times the new BTC issuance during the same period. This indicator had dropped to -6.93 on August 2 and briefly rose to 3.16 on August 21. However, the absolute strength of both indicators remains relatively low. Since 2024, the median for periods of positive realized market cap has been +3.24%, while the current +0.21% is only at the lowest 3%-4% of positive samples; the historical median for the apparent demand ratio above 1 is 7.65, and the current 2.52 is also at the lowest 10%. It is believed that the more important signal currently is that the direction of capital flow has shifted from outflow to slight inflow, and demand has once again exceeded new supply, but a strong new demand cycle cannot yet be confirmed. Future observations are needed to see if the realized market cap can remain positive and if the apparent demand can further expand.

first_img Hugging Face was invaded by AI agents and was forced to switch to open-source models for defense

According to Cointelegraph, Hugging Face disclosed that it experienced an intrusion event driven by autonomous AI agent systems in July. The attacking agent began testing in early May, leaving exploit notes using OpenAI's Artifactory instance, and subsequently launched approximately 17,600 attacks on Hugging Face, affecting its dataset processing infrastructure, production environment, internal network, and cloud credentials. Confirmed customer data access was limited to five datasets related to the ExploitGym/CyberGym benchmark.Hugging Face found during the investigation that due to security barriers imposed by top model providers like OpenAI and Anthropic, the company was unable to use these commercial models for defensive analysis and was forced to turn to running the open-source model zai-org/GLM-5.2 in China, which operates on the company's own infrastructure, ensuring that attacker data and credentials do not leave its environment. The company pointed out that attackers are not bound by any usage policies, while the defense's forensic work is hindered by the barriers of the hosted models.This incident highlights the security paradox between open-weight models and closed models. The article also discusses the ongoing debate regarding the security of open-weight AI, including OpenAI and Anthropic's push to restrict open-source models, as well as researchers' progress in detecting malicious behavior by examining changes in model weights.Hugging Face recommends that defenders prepare models that can run on their own infrastructure before an incident occurs to avoid barrier lock-in and protect attacker data.

first_img The SEC plans to establish two compliance channels for cryptocurrencies: over 1,600 projects have cumulatively raised funds of up to $5 million over four years

According to RootData, among 3,244 cryptocurrency projects with financing records spanning no more than four years and amounts that can be accounted for, 1,617 have a cumulative financing amount of no more than $5 million, accounting for 49.8%. The median financing for this batch of projects is $2.5 million, with about 96% recording only one round of financing.In terms of sectors, DeFi, infrastructure, and gaming projects together account for 59.2%, with small-scale financing mainly flowing to protocol development, underlying technology, and consumer applications. However, a quarter of the projects in the sample have already ceased operations, indicating that while lower regulatory thresholds can improve financing efficiency, they cannot replace product demand and sustainable operational capability.Institutional participation is also higher than the market's usual perception of "small projects": 92.9% of the sample has identifiable investor records, and 83.5% disclosed at least two investors. Among them, Animoca Brands, Shima Capital, and Big Brain Holdings participated in 84, 69, and 67 projects, respectively.It is reported that the U.S. SEC officially proposed the "Regulation Crypto Assets" on August 18. The proposal aims to set up two tiers of issuance exemptions: projects can raise no more than $5 million in a single instance within four years; projects with greater financing needs can raise up to $75 million within each 12-month period, but must submit financial statements and fulfill ongoing reporting obligations. The proposal is currently in a 60-day public comment period and has not yet officially taken effect.
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