Market dynamics on August 2: BTC needs to oscillate to digest the selling pressure in Mentougou

I. Market Trends:
1. BTC is experiencing severe fluctuations, with altcoins generally falling. BTC needs some time to digest the selling pressure from Mentougou.
2. U.S stocks have plummeted, the American economy is in recession, and the probability of He Jinli winning the election has risen to a new high of 43%.

II. Market Highlights:
1. Old DeFi brands such as FXS, CRV, AAVE are catching up in growth. The market lacks hotspots. AAVE and COMP have introduced income distribution reforms.
2. Solana's Metadao surged threefold, reaching a market value of 20 million USD. Metadao is a governance mechanism decided by the market; Paradigm became its largest address.
3.The Cosmos ecosystem's KUJIR halved after a sharp drop; team tokens were liquidated on-chain.