Shitcoin Season Index Rises to 41

On August 1st, the Websea platform accomplished the 34th round of platform token WBS burning. The data indicates that a total of 2,165,156.28 WBS were burned this time, which is an increase of 80,190.97 WBS compared to last month, setting a new record for the buyback burning mechanism. As of the time of writing, the price of WBS is $1.18, and the value of this burning exceeds $2.55 million. After this burning, the total accumulated amount of WBS burned has reached 63,714,740.08, completing 31.86% of the planned 200 million WBS burning. It is reported that the platform will continue to use 10% of the monthly fee revenue for buyback burning until the total supply of WBS is reduced to 100 million.

On August 1st, based on the data from the analysis platform glassnode, although Bitcoin dropped by 3.2% and Ethereum by 6%, the market liquidation scale remained at a low level, amounting to only $110 million and $132 million respectively. The slight withdrawal of open interest suggests that this round of correction is mainly driven by the spot market rather than the derivatives market.

August 1st. According to the Tax Office of Indonesia, since this year, the annual cryptocurrency tax revenue in Indonesia ranges from 500 billion to 600 billion Indonesian Rupiah (approximately 31.25 million to 36.40 million US dollars). Specifically, the tax revenue in the first year of 2022 was 24.6 billion Rupiah, decreased to 22 billion Rupiah in 2023, surged to 62 billion Rupiah in 2024, and as of now in 2025, 11.5 billion Rupiah has been collected. The Indonesian government has recently updated its cryptocurrency regulatory policy. The tax rate for overseas platforms has been increased to 1%, and the tax rate for domestic platforms has been adjusted to 0.21%. In addition, the value-added tax for buyers has been canceled, and cryptocurrencies have been reclassified as financial assets and are under the supervision of the Financial Services Authority. Currently, there are more than 20 million cryptocurrency users in Indonesia, surpassing the number of local stock market investors

On August 1st, according to official channels, Binance Alpha has now listed Toshi (TOSHI). Users who hold at least 200 Alpha points are eligible to claim an airdrop of 69,349 TOSHI tokens. The first come, first served principle applies. If the event is not yet completed, the points threshold will automatically decrease by 15 points every hour.

On August 1st, the Nasdaq-listed company The9 Limited announced that its wholly-owned Hong Kong subsidiary, Vast Ocean International Limited, has launched the Web3 gaming platform the9bit. The9bit has formed a strategic partnership with the blockchain gaming guild Yield Guild Games (YGG). It is reported that the9bit will be integrated into YGG's official onboarding channel and blockchain gaming guild activities. It is reported that from 2005 to 2009, The9 Limited was the exclusive operator of World of Warcraft in mainland China.

On August 1st, according to the crypto data platform Kiyotaka, there has been a persistent discount of Ethereum on Coinbase. This marks the first time since April of this year. During this period, Ethereum has surged by more than 150%.