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Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
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US initial claims for unemployment insurance and the unemployment rate are being released this week, key factors influencing the Federal Reserve's decision on interest rate cuts in September. The market has been sluggish recently, with noticeable risk-averse sentiment. Bearish sentiment among community users and the arrest of Telecom's CEO, a black swan event, have further dampened the mood, resulting in average performance for blue-chip coins and altcoins. The market tends to fluctuate significantly when macroeconomic data is about to be released. It is reasonable to reduce leverage, maintain reasonable position sizes, and preserve funds to buy the dip. We will introduce upcoming token launches on Bitget, on-chain earning opportunities with USDT/USDC and SOL, and speculative targets in the Solana Liquid Staking (LSD) sector.
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On August 12, the TRON ecosystem DEX, SUN.io, launched Sun Pump, the ecosystem's first memecoin issuance platform. Its goal is to provide creators with a convenient and cost-effective token issuance solution. As of August 21, Sun Pump has surpassed pump.fun in revenue and the number of new tokens issued. Some Meme coins issued on Sun Pump have shown astonishing performance. For example, SUNDOG increased by 10,156 times within 5 days and 8 hours of its creation, and FOFAR increased by 6176 times in 4 days and 6 hours. These skyrocketing memecoins have attracted significant attention from investors.
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Since Q2 2024, despite the overall decline in the cryptocurrency market, one ecosystem has bucked the trend and delivered exceptional returns—the TON ecosystem. The price of TON has surged by over 3.5x since the beginning of the year and is currently fluctuating around $7, near its all-time high. Backed by Telegram's nearly 1 billion users, the TON ecosystem has developed a range of unique applications that have recently become a focal point within the community.
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The uncertainty surrounding macroeconomic conditions and market reactions makes it challenging to predict short-term and mid-term market trends, with both black-swan and white-swan events possible at any time. Therefore, a rational approach would be to maintain a balanced position and reserve funds for potential dip-buying opportunities. In our last issue, we recommended several passive income products on Bitget. Now, we will introduce additional products based on USDT/USDC, BTC, and SOL, available both on Bitget and their respective blockchains. (While ETH-related LST and restaking projects have shown the highest potential returns lately, they are not included in our recommendations this time due to the high uncertainty of LST projects and their lack of flexibility in unstaking.)
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As global market risks intensified this week, crypto assets across sectors experienced significant corrections and poor performance. Passive income products from centralized exchanges can offer low-risk returns despite market volatility by utilizing diversified portfolios to mitigate downside risks. This week, we recommend Bitget Earn's passive income products for our key clients.
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On July 27 (local time), the current Republican presidential candidate Donald Trump attended the Bitcoin Conference. Essentially, the purpose of his appearance was to rally the mining community in the United States. The conference announced positive news for the mining industry, with a 12% increase in KAS over the past seven days and a noticeable net inflow of funds and traffic, indicating a certain wealth effect.
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In the past three weeks, SOL's price has rebounded strongly from a low of $120 to a high of $185 on July 21. This represents a robust recovery of over 50%, surpassing the rebound seen in BTC, ETH, and most other high-cap altcoins, becoming a strength eco-project worth focusing on.
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- 18:24OPINION: Decline in Bitcoin Volatility and Open Contract Positions Suggests Traders Are Taking a Wait-and-See ApproachBitcoin traders are adopting a wait-and-see attitude due to weakening demand, lack of blockchain activity and slowing liquidity inflows. Their attitude is reflected not only in declining volatility, but also in a sharp drop in positions. ‘The market is in a cooling phase right now,’ said David Gogel, vice president of strategy and operations at the dYdX Foundation. ‘Bitcoin has been holding firm, but after failing to break above $105,000 in January, we're seeing a slowdown in inflows and speculative assets like Meme Coin taking a hit.’
- 18:22VISA CEO: Stablecoin trading volume up 40% in last two yearsOdaily Planet - VISA CEO: Stablecoin Trading Volume Up 40% in Last 2 Years.
- 17:37Mainstream CEX Cumulative Short Liquidation Strength to Reach $386 Million if Bitcoin Breaks $100,000On 20 February, according to Coinglass data, if Bitcoin breaks above $100,000, the cumulative short liquidation strength of mainstream CEX will reach 386 million. Conversely, if Bitcoin falls below $95,000, the cumulative long liquidation strength of mainstream CEX will reach 466 million. BlockBeats Note: The liquidation chart does not show the exact number of contracts to be liquidated, or the exact value of contracts being liquidated. What the bars on the chart show is actually the importance, or strength, of each liquidation cluster relative to the neighbouring liquidation clusters. Thus, the liquidation chart shows how much the underlying price will be affected by reaching a certain position. Higher ‘clearing bars’ indicate that the price will react more strongly when it arrives because of the liquidity wave.