In the past 24 hours, many new popular currencies and topics have appeared in the market, and they may be the next opportunity to make money
In the past 24 hours, Bitcoin rebounded to $57,000. Bitcoin's trading volume yesterday hit a new high after halving, with a trading volume of over $1.14 billion. Among them:
The sectors with strong wealth creation effect are: AI sector, Solana sector;
The hot search tokens and topics of users are: Kelp DAO, Zircuit, Pendle;
Potential airdrop opportunities are: Term Finance, Fuel;
Data statistics time: 4:00 (UTC+0) on August 7, 2024
In the past 24 hours, Bitcoin rebounded to $57,000, and the market ushered in a phased rise. Yesterday, the US Ethereum ETF had a net inflow of 8,815 ETH, and the Bitcoin ETF had a net outflow of 3,615 BTC. BlackRock's official update of spot Ethereum ETF data shows that as of August 5, the market value of iShares Ethereum Trust ETF (ETHA) reached approximately US$568,651,893.12, and the holdings rose to 237,882.8821 ETH.
In terms of macro data, following the plunge on Monday, the Nikkei 225 index opened up 8% on Tuesday, recovering most of yesterday's losses. The Topix index rose 2%, and the South Korean KOSPI index opened up 3.7%. Japan's Topix index futures triggered the circuit breaker mechanism upward. In the crypto market, Bitcoin rose 3.83% and Ethereum rose 5.05%. According to the latest data from CoinGecko, the total market value of the crypto market has returned to above US$2 trillion, with a 24-hour increase of 3.6%. According to Cointelegraph, Bitcoin trading volume hit a new high after halving, with trading volume exceeding US$1.14 billion on August 6. The decline since Bitcoin’s halving is now similar to the 2015-2017 halving bull cycle. Cointelegraph’s statement compared the depth of the market adjustment since the halving date, pointing out that the two are very similar. Although some indicators now show bearish signals, there is still a possibility of continued rebound, and investors should keep an eye on it.
Main reasons:
The AI sector fell and consolidated for a long time, and in the environment of oversold rebound in the market, it was the first to attract the attention of funds;
Nvidia opened low and rebounded yesterday, and continued to rebound after the market, driving the overall AI sector’s enthusiasm for long positions;
Grayscale launched a new decentralized artificial intelligence fund, Grayscale Decentralized AI Fund LLC, which aims to strengthen the cryptocurrency industry’s investment in artificial intelligence. As of today, the decentralized artificial intelligence projects included in the fund basket include Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR) and Render (RNDR). Near, Filecoin and Render are the assets with the highest weights in the fund.
Rise: TAO, NEAR and RENDER rose 8% in 24 hours;
Factors affecting the market outlook:
NVIDIA's subsequent trend: NVIDIA is a weather vane for the AI track, affecting the market's overall valuation of the AI track. If NVIDIA continues to rebound in the US stock market tomorrow, the AI sector in the crypto market is expected to continue to rebound;
News impact: Pay attention to the product updates and partnerships recently promoted by the project party. If an AMA is held, you can consider deploying related assets in advance, because there is a high probability that good news will be released in the near future using the environment of improved liquidity.
Main reasons:
SOL took the lead in driving the entire SOL ecosystem to rebound. After hitting $130, it rebounded to $150, driving the ecological currency up;
SOL is currently priced between $143 and has fallen by more than 30% in the past two days. However, this decline reflects the pattern before the sharp rise in prices in 2021. The nearest resistance level is $217.15, and a break above this resistance level could push SOL to $279.76.
Rise: SOL, JUP, and WIF rose by 10%, 10%, and 20% respectively within 24 hours;
Factors affecting the future market:
Community information: The operation of Meme coin has a great impact on the trend of Meme. Pay attention to the content information released by the AMA and Twitter of the trading target. If there is new news, you can trade in time and seize the opportunity to build a position at the first time;
Increase or decrease in open interest: SOL's open interest rose yesterday, indicating that hot money is pouring in. Through the contract data on the tv.coinglass website, you can understand the trend of the main funds. First, look at the increase in net long positions on the contract; then look at whether the contract data shows a net increase in long positions, an increase in OI, and an increase in trading volume. If so, it means that the main force continues to buy up and can continue to hold;
Main reasons:
Recently, governments around the world have gradually promoted the legalization of crypto mining. For example, the Russian government has withdrawn from relevant policies, and the United States is also actively expanding related industries. Therefore, the mining industry is also gradually studying what new POW tokens can be invested in addition to mainstream mining assets. Some relatively high-quality targets have emerged in the market, and the computing power has increased significantly recently, and the currency price performance is also relatively bright.
Factors affecting the future market:
Computing power performance: The continuous investment in computing power means that there is a continuous investment in mining machines, which increases the cost of token mining. It means that most market participants believe that investing in computing power at this cost is still profitable. At the same time, the entry of large computing power also indicates that mining groups may join the mining of this project, which is a signal of large funds entering the market.
Synchronous development of ecology: POW also has many application ecosystems. Ecology is the key to moving towards Mass Adoption. Therefore, if the ecosystem can attract enough developers and users to participate in its ecosystem, the demand for the token will increase, and there is a greater chance of continuing its market.
Kelp DAO: Ethereum re-staking platform Kelp DAO announced that it will release the Gain function on August 13. This function brings multiple airdrops and reward increases to users by concentrating multiple L2s in one place. Kelp DAO's current TVL has exceeded US$800 million and has completed US$9 million in private financing. It is one of the leading projects in the concept of Restaking platform.
Zircuit:
Zircuit is a fully EVM-compatible ZK rollup with AI-enabled sequencer-level security features. Today, the project announced that the first phase of the mainnet is now live. The Zircuit platform has staked more than $2 billion, and Zircuit has also opened claims for the Season 1 airdrop. Users who staked assets in the Season 1 points event can now claim their tokens.
Globally:
Pendle:
Pendle is an interest rate derivatives protocol built on multiple chains, which "coupon strips" interest-bearing token assets - tokenizes income, splits them into independently tradable interest payment parts and principal payment parts, and mints corresponding tokens. Affected and boosted by the general rise of altcoins following the market and the news that Upbit added PENDLE Korean won and BTC markets, PENDLE briefly broke through $3 and then fell back, and is still up more than 30% in 24 hours.
From the perspective of hot searches in various regions:
(1) Hot searches in Asia are very scattered. Public chains, RWA, Layer2, Restaking and other projects appear in the top search lists of Indonesia, the Philippines, Thailand and Malaysia, respectively, without any common characteristics.
(2) Hot searches in Europe, the United States and the English-speaking regions are also relatively scattered, but public chain tokens are relatively popular. ICP and monad appear in the UK, while more meme tokens such as boden, hero and pepe appear in the US.
(3) In Latin America, the hot searches in Brazil are stella, bonk and polyx, and those in Argentina are Kelp, sand and tron.
Fuel
Fuel is a modular execution layer based on UTXO, which brings globally accessible scale to Ethereum. As a modular execution layer, Fuel can achieve global throughput in a way that monolithic chains cannot, while inheriting the security of Ethereum.
In September 2022, Fuel Labs successfully raised $80 million in a round led by Blockchain Capital and Stratos Technologies. Multiple leading investment institutions invested, such as CoinFund, Bain Capital Crypto and TRGC.
Specific participation method: You can directly deposit Fuel accepted tokens into the earned points. Participants deposited the following assets for every $1, earning 1.5 points per day
Points: ETH, WET, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe and stETH; from July 8 to 22, depositing ezETH can earn 3 points per day.
Term Finance
Term Finance is a decentralized lending protocol that uses a unique auction model to support scalable fixed-rate/periodic lending, which is the first in the DeFi field. It brings borrowers and lenders together for a fair and transparent auction process to determine a single market clearing rate for all participants, regardless of size.
Term Finance recently completed seed and strategic rounds of financing, with well-known institutions such as Electric Capital and Coinbase Ventures participating in the investment, with a financing amount of US$8 million. On July 9, the project announced the launch on Twitter
Specific participation methods: 1. Registration: Use an invitation code or referral link; 2. Link social: Link X and Discord for easy login; 3. Check bonus eligibility; 4. Participation: Borrow by participating in periodic auctions; 5. Tracking: In-depth understanding of how to maximize points through Term's tracking dashboard.
Content
Summary
1. Market environment
2. Wealth creation sector
3. User hot searches
4. Potential airdrop opportunities
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