Linera Launches Babbage Testnet

According to Lookonchain monitoring, Japanese listed firm Metaplanet Inc. has transferred a total of 3,881 Bitcoin over the past three hours, valued at roughly $247.3 million. Data shows that Metaplanet currently holds around 43,000 BTC in total, with an average purchase cost of $96,191 per Bitcoin. Calculated at current prices, its Bitcoin holdings carry an unrealized loss of approximately $1.4 billion, representing a 34% loss.

Harmony Protocol announced in a post that its team is collaborating with relevant exchanges to attempt to block and freeze funds involved in the incident, while developing a fix and evaluating rollback options. Earlier, on-chain data analysis indicated that Harmony had likely been hacked, with attackers exploiting an empty blocks vulnerability to mint approximately 4 billion ONE tokens without authorization—accounting for around 26% of the current total supply. Around 2.8 billion of these ONE tokens were subsequently transferred to exchanges, triggering market selling pressure and leading to a sharp drop in ONE’s price. According to analysis, the attackers exploited a flaw in the supply verification mechanism, causing the totalSupply interface to fail to reflect the actual number of newly minted tokens in a timely manner and masking the inflationary impact. Harmony stated that it will update the incident’s progress once more information becomes available. The incident remains under investigation at this time.

According to data from Farside Investors, Bitcoin spot ETFs posted a total net inflow of $7.8 million on August 11. BlackRock’s IBIT recorded a $50.2 million net inflow, while Fidelity’s FBTC saw an outflow of $4.1 million, ARKB an outflow of $11.5 million, EZBC an outflow of $16.5 million, and HODL an outflow of $10.3 million. The remaining ETFs had minor or zero capital flows. For Ethereum spot ETFs, total net outflows reached $1.7 million on August 11. BlackRock’s ETHA posted a $600,000 net inflow, while Franklin’s FETH saw a $2.3 million outflow, with all other Ethereum ETFs registering zero capital flows.

According to official announcements, Binance will add GameStop bStocks (GMEB) as an eligible collateral asset for Cross Margin, Portfolio Margin, and Portfolio Margin Pro starting at 12:00 UTC on August 12. Qualified users can use this bStocks token as collateral for margin trading, and margin trading support will also be enabled for related GMEB trading pairs. However, lending functionality is not currently supported for this asset.

Payment public blockchain Tempo announced in a post that its weekly stablecoin transfer volume has hit an all-time high. Last week, Tempo's transaction volume exceeded $175 million, with its cumulative transaction volume surpassing $1.2 billion since its launch in March.

CryptoQuant founder Ki Young Ju stated in a post that Bitcoin’s current price trend is primarily driven by the futures market. Open interest continues to rise, but on-chain spot demand remains in net negative territory. He noted that a sustainable rally requires growth in both spot and futures demand, adding that the market is currently more dependent on leveraged funds rather than genuine buying support. Ki Young Ju also pointed out that April’s market performance demonstrated futures-driven rallies lacking spot demand backing tend to be unsustainable.