August 24: 💥💥💥 Market performance! BTC consolidates at high levels, while altcoins are diverging but leaning slightly stronger.
The U.S. stock market rebounded last Friday, and on Sunday the index futures were mostly flat but a bit weak; oil prices slipped slightly but remained in a high range.
💥💥💥💥💥 Market highlights:
1. BTC stays strong. After earlier shorts covered, it entered a period of consolidation. Capital continues to revolve around crypto legislation, expectations of interest-rate cuts, and USD-credit trading.
2. DeFi keeps leading. Morpho surged by about 28%. Aave, Pendle, and UNI also followed higher. Market preference has shifted from BTC to on-chain beta.
3. Meme rotation is clearly evident. Trump, Pengu, and Pump rose. Trump’s trading volume expanded; Pengu continues to stay strong.
4. Privacy and old coins remain active. ZEC breaks above around 850, with a 7-day gain of about 76%. However, XMR is weakening, and within the sector, internal differentiation is starting.
5. Data: Ethereum mainnet’s on-chain revenue over the past 7 days reached $3.46 million, up 149% month-over-month!
The U.S. stock market rebounded last Friday, and on Sunday the index futures were mostly flat but a bit weak; oil prices slipped slightly but remained in a high range.
💥💥💥💥💥 Market highlights:
1. BTC stays strong. After earlier shorts covered, it entered a period of consolidation. Capital continues to revolve around crypto legislation, expectations of interest-rate cuts, and USD-credit trading.
2. DeFi keeps leading. Morpho surged by about 28%. Aave, Pendle, and UNI also followed higher. Market preference has shifted from BTC to on-chain beta.
3. Meme rotation is clearly evident. Trump, Pengu, and Pump rose. Trump’s trading volume expanded; Pengu continues to stay strong.
4. Privacy and old coins remain active. ZEC breaks above around 850, with a 7-day gain of about 76%. However, XMR is weakening, and within the sector, internal differentiation is starting.
5. Data: Ethereum mainnet’s on-chain revenue over the past 7 days reached $3.46 million, up 149% month-over-month!
