Gate Daily (September 1): Trump WLFI token welcomes its first token unlock; Ethereum co-founder states that ETH could potentially pump 100 times in the future.

Bitcoin (BTC) opened this week with a sharp decline, reporting around $107,840 on September 1. The DeFi project World Liberty Financial (WLFI), related to President Trump, is set to see its first token unlock, with WLFI derivative trading volume surging by 400%. Ethereum co-founder Joseph Lubin stated that Ethereum (ETH) could potentially increase by 100 times in the future. The Governor of California jokingly referred to "Trump Corruption Coin" to criticize the "Make America Great Again" meme coin.

Today's Outlook

1. The final value of the Manufacturing Purchasing Managers' Index in France for August is 49.9, previous value.

2. The final value of Germany's manufacturing PMI for August is 49.9, previous value.

3. Eurozone August Manufacturing Purchasing Managers Index final value, previous value was 50.5

4. UK Manufacturing Purchasing Managers' Index (final value) for August, previous value was 47.3

5. Eurozone unemployment rate for July, previous value was 6.2%

6. U.S. Labor Day market closure

Macro Events & Crypto Hotspots

1. As cryptocurrency investors prepare for the unlocking of the first batch of tokens for the DeFi project World Liberty Financial (WLFI) related to Trump later on September 1, the trading volume of WLFI derivatives is soaring. According to data from Coinglass, the 24-hour trading volume of WLFI derivatives surged over 400% on August 31, reaching $3.13 billion, and the open interest rose over 50%, hitting $760 million. The perpetual futures were listed on major exchanges last week at a price of about $0.40, but as of August 31, the price had fallen to around $0.32.

2. Joseph Lubin, co-founder of Ethereum and CEO of Consensys, brought some thought-provoking content for Ethereum bulls. In a post on X, he praised Fundstrat's Tom Lee's vision of the future of finance and Ethereum's increasingly expanding role in traditional institutions. "Yes, the price of ETH could go up 100 times in the future, or even higher." Regarding Tom Lee's optimistic outlook, Lubin predicted that a huge transformation in global finance is imminent: Wall Street giants will soon run validators, operate L2 and L3, and write smart contracts to migrate their business infrastructure onto the Ethereum network.

3. California Governor Gavin Newsom revealed plans to launch the "Trump Corruption Coin" in direct response to Trump's controversial involvement in cryptocurrency, particularly through meme coins. Democrat Newsom stated on the "Pivot" podcast that the planned meme coin is explicitly named after Trump’s so-called scandal, as part of his broader "Democracy Movement" initiative, with the coin's proceeds to be used for redistricting and voter outreach efforts. "We are about to launch a meme coin," Newsom said in the interview. "You know what, Trump? We’ll see how your coin performs compared to ours."

Market Trend

1. Latest news on Bitcoin: $BTC opened this week with a sharp decline, currently reported at around 107,840 USD, with a liquidation of 28.65 million USD in the past 24 hours, mainly on long positions;

2. On August 29, the four major indices of the U.S. stock market closed in the red. Looking at the weekly performance, the Dow Jones index fell 0.19%, the S&P 500 index dropped 0.1%, the Nasdaq index decreased by 0.19%, and the Philadelphia Semiconductor index fell 1.49% for the week.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 107,822.40 USDT, if it drops to around 107,300 USD, the total liquidation amount of long positions exceeds 416 million USD; if it rises to around 109,707 USD, the total liquidation amount of short positions exceeds 482 million USD. The liquidation amount of short positions is higher than that of long positions, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: CoinGlass)

4. In the past 24 hours, BTC spot inflow was $1.11 billion, outflow was $1.15 billion, resulting in a net outflow of $0.04 billion.

(Source: CoinGlass)

5. In the past 24 hours, the net outflow of contract trading for $ETH, $BTC, $SOL, $XRP, $DOGE, etc. has been leading, indicating trading opportunities.

News Updates

1. Report: The rate at which companies are absorbing Bitcoin is 4 times the rate at which miners are extracting it.

2. WLFI shares the method of "on-chain operation to claim unlocked WLFI tokens".

3. Market news: Japan Post Bank plans to launch digital currency in 2026.

4. Trend Research transfers 1 million PENDLE to CEX, worth 4.78 million USD.

5. Tom Lee: The Federal Reserve is restarting a moderate rate cut cycle, which may make it difficult for traders to determine their positions in the US stock market.

6. Trend Research deposited 203,105 ENS into CEX, worth 4.72 million dollars.

7. A newly created wallet withdrew 2 million USDC from the CEX and deposited 1 million USDC into HyperLiquid to open a short position on ETH.

8. QCP: Corporate treasury makes digital assets no longer a speculative bet, but a strategic financial tool.

9. Analyst: Currently, 16.4 billion public WLFI have been activated, of which 20% may be unlocked for circulation tomorrow.

10. Data: Tokens such as SUI, ENA, and IM X will experience significant unlocks this week, with SUI unlocking a value of approximately 145 million USD.

11. ZhongAn Online: ZhongAn Technology plans to increase capital towards ZhongAn International, which has entered into a stock purchase agreement with Cosmos, OKG, and others.

12. Analyst: 80% of the tokens from the WLFI public round remain unclear regarding how they will be unlocked.

13. A certain investor's WLFI in a private placement was completely stolen due to the phishing exploit of leaked private keys under EIP-7702.

14. Michael Saylor releases Bitcoin Tracker message again, may reveal accumulation data this week.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "The operation on August 31 is also very simple. Monday is Labor Day in the US, so the market is closed, which means there are no US stocks or CME, and consequently no ETF. Therefore, the liquidity this week is very low, which is actually a good thing for the current market. With the US stock market closed, there's an extra day of rest. Bitcoin ($BTC) has been relatively stable over the past two days. Of course, tomorrow is when $WLFI officially starts trading, which may have some impact on liquidity, but I think it will only be temporary. The most critical factor next week will still be the labor data. Starting Wednesday, we will have job vacancies, Thursday is the ADP non-farm employment change, and Friday is the non-farm payrolls report. So market sentiment will start to tighten from Wednesday. The most important data will still be the labor force and unemployment rate on Friday. Moreover, the most significant event in September will be the mid-month interest rate meeting, where the main market speculation will revolve around the interest rate cut in September, the dot plot, and the US economy. We have talked about this for a long time. Quantitatively, this relates to Trump's camp in the Federal Reserve's seats and the thoughts of the centrist members regarding interest rate cuts. A rate cut in September is likely not 100% guaranteed."

Looking back at the data for Bitcoin, it is normal for the turnover rate to continue to decline on Sunday, and Monday is also a holiday. As long as there are no significant fluctuations in price, the turnover rate on Monday is unlikely to be high. Currently, it appears that investors have somewhat alleviated their panic from last week, and the sell-off has not continued to intensify. There are slightly more investors who entered the market on Friday exiting now. From the perspective of support, although it has fallen below $110,000, the holdings between $112,000 and $118,000 have not shown significant reductions, indicating that investors who are trapped at high levels are not very panicked, so there should still be some price absorption.