Gate Daily: Trump threatens to raise tariffs on China; Qubic plans to launch a cyber attack on DOGE; Japan approves yen stablecoin this autumn.

Bitcoin (BTC) experienced low trading volume over the weekend, with an approximate price of $117,230 during the Asian session on August 18. U.S. President Trump stated that he would delay increasing tariffs on Chinese goods due to China's purchase of Russian oil. After attacking Monero (XMR), Qubic's next target will be DOGE. Japan announced that it will approve the first batch of yen-backed stablecoins this fall.

Today's Outlook

1. Eurozone June seasonally adjusted trade balance (billion euros), previous value was 16.2

2. The US August NAHB Housing Price Index, previous value was 33.

Macro Events & Coin Circle Hotspots

1. On August 16, Bloomberg reported that U.S. President Trump stated he would delay raising tariffs on Chinese goods due to China's purchase of Russian oil. Trump also mentioned that he has made progress with Russian President Vladimir Putin on ending the Ukraine war. In an interview with Fox News after a meeting with Putin on August 15, Trump said, "Given the situation today, I feel I don't have to think about this issue right now... I might need to reconsider this issue in two or three weeks, but we don't have to think about it right now." Trump did not reach a ceasefire agreement with Putin during their meeting in Alaska, but he stated that both sides have reached a consensus on many issues and urged Ukrainian President Volodymyr Zelenskiy to reach an agreement with Putin.

2. Qubic is a blockchain focused on artificial intelligence that launched a 51% attack on the Monero privacy network last week. The community behind it has voted to target DOGE next. Qubic founder Sergey Ivancheglo (using the online pseudonym Come-from-Beyond) provided the community with several options for the next target, including DOGE, Kaspa, Zcash, and any other blockchain designated by members. At the end of the voting, DOGE received over 300 votes from the Qubic community, surpassing the total votes for all other options. Qubic successfully executed a 51% attack on Monero, and the community is now seeking to attack other proof-of-work blockchains, which could pose challenges for these blockchain-based currency networks.

3. The Japanese Financial Services Agency (FSA) is preparing to approve the issuance of a yen-denominated stablecoin as early as this fall, marking the country's first allowance for the issuance of domestic digital currency pegged to fiat currency. According to a report by the Japanese economic media "Nihon Keizai Shimbun" on Sunday, the Tokyo-based fintech company JPYC will register as a remittance company within this month and will lead the launch of this service. JPYC's design aims to maintain a fixed value of 1 yen = 1 yen, supported by high liquidity assets such as bank deposits and Japanese government bonds. After receiving purchase applications from individuals or businesses, the tokens will be issued to digital wallets via bank transfers. This approval comes at a time when the global stablecoin market has exceeded $286 billion, dominated by dollar-pegged assets such as USDt and Circle's USDC. Although dollar stablecoins have established a foothold in Japan, this will be the country's first issuance of a yen-based stablecoin.

Market Trend

1. $BTC Trading Volume is sluggish, currently reported at around 117,230 USD, with a liquidation of 23.94 million USD in the past 24 hours, mainly from long positions;

2. The US stock market closed mostly lower on August 15. Trump stated earlier that tariffs on chips will be established within the next two weeks, with rates potentially rising to 200% or even 300%, indicating an intensified effort to bring semiconductor manufacturing back to the US. The Philadelphia Semiconductor Index fell over 2%. The Dow Jones Industrial Average rose 34.86 points, or 0.08%, closing at 44,946.12 points. The S&P 500 Index dropped 18.74 points, or 0.29%, closing at 6,449.80 points. The tech-heavy Nasdaq Index fell 87.69 points, or 0.40%, closing at 21,622.98 points. The Philadelphia Semiconductor Index dropped 132.754 points, or 2.26%, closing at 5,752.736 points;

3. In the Gate BTC/USDT liquidation map, based on the current 117,254.10 USDT, if it drops to around 116,846 USD, the total liquidation amount of long positions exceeds 336 million USD; if it rises to around 119,320 USD, the total liquidation amount of short positions exceeds 602 million USD. The liquidation amount for the bears is significantly higher than that for the bulls, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

4. In the past 24 hours, BTC spot inflow was 710 million USD, outflow was 827 million USD, resulting in a net outflow of 117 million USD.

5. In the past 24 hours, contracts such as $ETH, $BTC, $SOL, $XRP, and $DOGE have experienced net outflows, indicating trading opportunities.

News Updates

1. Data: 2.5 billion PUMP transferred from PumpFun token distribution address to CEX

2. Two new wallet addresses suspected to belong to the same entity received over $115 million in ETH transferred from FalconX.

3. A certain whale/institution has recently accumulated $136 million worth of WBTC and ETH through circular loans via CEX over the past 6 days.

4. Four whales withdrew a total of over 400,000 LINK from CEX in the past 24 hours, worth approximately 9.82 million dollars.

5. An address suspected to be associated with crypto investor Rudy Kadoch transferred approximately 1.976 million CRV into CEX.

6. The Ethereum treasury of Arbitrum DAO has increased by approximately 36% monthly, currently reaching 22,500 ETH.

7. Most investors participating in the Bank of America Global Fund Manager Survey have zero exposure to cryptocurrency.

8. A trader made a profit of 29.6 million dollars by going long on ETH with only 125,000 dollars, achieving a 236 times return.

9. A newly created wallet withdrew 450 BTC from Binance, worth 53.22 million USD.

10. Data: Tokens such as FTN, ZRO, and KAITO will experience a large unlock next week, with FTN unlocking a value of approximately 91.4 million USD.

11. Sky Co-founder Rune used 1.77 million ENA to buy back 16.38 million SKY.

12. Metaplanet CEO: The goal of increasing Bitcoin holdings to 30,000 coins this year has not changed.

13. Michael Saylor releases Bitcoin Tracker message again, revealing accumulation data this week.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Today's homework isn't too difficult, it's just like this on weekends. It's already good that BTC's volatility isn't too large under low liquidity, indicating that investors' sentiment is still stable. Politically, it's still centered around the Russia-Ukraine conflict. On Monday, Trump will meet with Zelensky. Although Trump claims significant breakthroughs with Putin, as mentioned yesterday, it's likely still under the premise of ceding land in Ukraine. Today, Bitcoin reached a high of around $118,500, but considering that besides the Jackson Hole annual meeting on Friday, there aren't any major events happening next week, the market's focus remains on the game between Trump and Powell. Therefore, I haven't closed my long position; I'll hold on and see. In fact, closing would be safer; I was a bit greedy. Looking back at Bitcoin's data, the trading volume is shockingly low, which is typical during bear markets. This indicates that BTC investors have returned to the reduced selling scenario we discussed earlier, which is helpful for BTC price stability. Before the Jackson Hole meeting, I haven't observed any overly pessimistic situations. There's not much else to say; support is very stable, and there's no need to worry in the short term. Additionally, the positions at $117,000 exceed 750,000 coins, which looks alright for now. I still feel that even if the market is forced to choose a direction, that will likely happen after Friday."