BTC must stay above $60K for upward trend

Hot projects + Market overview

I. Mainstream exchange news

• Binance has completed the integration of the C98 token on the Viction network.
• Binance will support Horizen (ZEN) network upgrades.
• OKX SG has received a Major Payment Institution license from the Monetary Authority of Singapore (MAS) and has appointed a former MAS official as its CEO.
• Bitget Wallet has launched a Telegram trading bot.
• OKX will delist FRONT/USDT margin trading pair and perpetual contracts.

II. Mainstream projects and trending events

• TRON founder Justin Sun has announced plans to focus on reducing transaction fees to attract more users to TRON, meme tokens, and NFTs, while also revealing that the SunPump protocol's revenue will be distributed to the community through a liquidity donation plan, pending community approval via an open vote.
• The Trump family crypto project has appointed Corey Caplan, co-founder of DeFi platform Dolomite, as an advisor.
• Folius Ventures' founder, Jason Kam, has said that the primary market has become much more complex and speculative, with a huge increase in projects needing to launch or sell tokens. He expects an industry shakeout in the next 18 months, with potential opportunities in the secondary market after 24 months.
• Japanese publicly traded company Metaplanet, which acquired 360 Bitcoin ($207 million), has partnered with SBI VC Trade to support further Bitcoin acquisitions. Metaplanet will use its Bitcoin reserves as collateral to enhance equity and debt financing.
• Ripple plans to launch an XRPL EVM sidechain by 2025 and has partnered with Futureverse.
• Nubit has unveiled a plan for consumer-grade Minichains, introducing tools like DeKit, Minichain-as-a-Service, and Universal Bridge to simplify product development for developers.
• Asset management company Metalpha has adopted the Antalpha Bitcoin Mining Index for its Bitcoin mining stock fund.
• Sky has partnered with Aave to integrate USDS and SKY into the Aave ecosystem.
• LayerZero has launched a community program with plans to distribute 5 million ZRO tokens as rewards.
• Jupiter has integrated the Moonshot token issuance platform into its spot trading service.

III. Funding news

• Pencils Protocol, a project within the Scroll ecosystem, has raised funds at a valuation of $80 million, in a round participated in by Taisu Ventures.
• Stablecoin issuer IDA has completed a $6 million in a seed round led by CMCC Global.

IV. Regulatory news 

• Japan's Financial Services Agency has proposed a 2025 fiscal tax reform that addresses cryptocurrency taxation for the first time. The proposal suggests treating virtual currencies as financial assets for tax purposes.
• Brazil has 16 cryptocurrency ETFs, with BLP, Hashdex, and QR Asset as the primary fund managers, providing investors with various options for entering the crypto market through traditional investment channels.
• The Qatar Financial Centre (QFC) has introduced a comprehensive framework for regulating digital assets, covering tokenization, legal recognition of assets, custody, transfer, trading, and smart contracts.

V. Popular projects 

Market overview

BTC rebounded after reaching a low of $57,128. To confirm the end of the decline from $65,000, BTC must break and stay above $60,137.

Levels above the daily MA140 at $63,404 are needed to signal a shift into an upward trend.

NEIRO is up 50% in a day

The price of NEIRO, a memecoin associated with the new dog of the Doge dog's owner, has surged 50% in the last 24 hours.

NEIRO, linked to a smart contract ending in 53Ee, gained attention after receiving a reply from Vitalik Buterin and claims to be the first of its kind deployed on Ethereum.

The NEIRO token has reached a market cap of $42.32 million.

POX is up 36% in a day

The price of POX, an SPL-404 format token on the Solana network, has surged 36% in the last 24 hours.

POX can be converted from NFT, with 1 POX NFT exchangeable for 2 million POX tokens.

Since its launch on August 30, POX has risen over 60 times, with on-chain liquidity currently at $270,000 and a market cap of $21.93 million.

Inscription Sector

ORDI and SATS have experienced significant rebounds, sparking movement across the inscription sector.

ORDI, in particular, has seen consistent buying during BTC's correction phase, which may lead to a sustained upward trend.

The key focus is whether BTC can hold above $60,137. If it does, the inscription sector could see a substantial rebound.

SUNDOG is up 14% in a day

The price of SUNDOG, a memecoin launched on Justin Sun's SunPump, has surged 14% in the last 24 hours.

SUNDOG, which was first sold via a Bonding Curve on August 15th, is the leading meme on SunPump.

The SUNDOG token has reached a market cap of $267 million.

On-chain daily

1. VISTA: VISTA is the token of a new DEX on the Ethereum chain, considered Ethereum's Pump.fun, featuring 100% of supply allocated to LPs with a five-day lockup period. 100% of protocol income is distributed to liquidity providers. The first batch of LPs will be unlocked on September 4, potentially leading to a price drop. 

Current Price: $15.6

Historical High: $30

24-Hour Change: 927%

Current Market Value: $15.2M

Official Twitter: https://x.com/ethervista

2. VISTADOG: VISTADOG is a memecoin issued on VISTA.

 Current Price: $0.0124

Historical High: $0.04133

24-Hour Change: 3262%

Current Market Value: $1.2M

Official Twitter: https://x.com/VISTADOGETH

3. Neiro: Neiro is a memecoin on the Ethereum chain, themed as the Doge dog owner's new pet dog. This coin is one of the earliest Neiro types. Its rise is attributed to the CTO donating 1% of tokens to the community wallet on September 2, valued at over 80 ETH, symbolizing unity.

Current Price: $0.00097

Historical High: $0.000144

24-Hour Change: 56%

Current Market Value: $40M

Official Twitter: https://x.com/neiroethcto

4. FWOG: FWOG is a memecoin on the Solana chain, featuring a cute frog with long arms and legs. It is a community-managed version after the original memecoin flog was rugged, supported by many well-known Milady holders, even attracting interest from one of the original creators of Pudgypenguins, Cole.

Current Price: $0.0936

Historical High: $0.0936

24-Hour Change: 25%

Current Market Value: $91.3M

Official Twitter: https://x.com/solfwog

5. POX: POX is a memecoin on the Solana chain, part of the MPL 404 tokens, similar in concept to the previous ERC 404 protocol tokens, used for image token conversion.

Current Price: $0.022

Historical High: $0.0248

24-Hour Change: 28%

Current Market Value: $22M

Official Twitter: https://x.com/monkeypoxsol

6. r/snoofi: r/snoofi is a memecoin on the Solana chain, specifically designed for Reddit fans and crypto enthusiasts, inspired by Doge.

Current Price: $0.01585

Historical High: $0.02

24-Hour Change: 23%

Current Market Value: $15.8M

Official Twitter: https://x.com/Reddit

Daily runes observation

Gas Fee Change: The current BTC transaction fee is 3 satoshis/byte. Despite market conditions, the fee remains persistently low, continuing this way for three months.

Today's Popular Projects:

1. ITS•A•FULL•MOON

Fully minted

Market Value: $612K

24-Hour Trading Volume: $11,780

24-Hour Change: +62%

Holding Addresses: 999

2. NICOLAS•PI•RUNE

Fully minted

Market Value: $3.5M

24-Hour Trading Volume: $26,111

24-Hour Change: +23%

Holding Addresses: 10,383

3. RSIC•GENESIS•RUNE

Fully minted

Market Value: $68M

24-Hour Trading Volume: $62,572

24-Hour Change: +16%

Holding Addresses: 81,849

Top Rune Projects Tracking:

DOG•GO•TO•THE•MOON: Rune #3, an airdropped rune from Runestone

Current Price: 4.68 Sats

24-Hour Change: +4.46%

Current Market Value: 4,679 BTC

BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.

Current Price: 6.48 Sats

24-Hour Change: +4.5%

Current Market Value: 1,360 BTC

RSIC•GENESIS•RUNE: Rune #8, from the renowned RSIC inscription mining project.

Current Price: 5.37 Sats

24-Hour Change: +16.8%

Current Market Value: 1,126 BTC

Performances of today's top three tracks

Meme: An overall daily increase of 6.03%

1. ORDI: ORDI is a Bitcoin derivative token based on the BRC20 token standard.

Daily Increase: 20.57%

Current Price: $32.34

Current Market Value: $678.51M

24-Hour Trading Volume: $257.69M

2. DOG: A fractionalized NFT version of the original Dogecoin (Doge).

Daily Increase: 16.58%

Current Price: $0.0043

Current Market Value: $64.27M

24-Hour Trading Volume: $882.11K

3. MICHI: MICHI is a meme coin on the Solana chain, featuring a standing cute cat.

Daily Increase: 15.54%

Current Price: $0.1197

Current Market Value: $66.53M

24-Hour Trading Volume: $4.18M

RWA: An overall daily increase of 6.03%

1. OM: An RWA L1 blockchain capable of complying with and enforcing real-world regulatory requirements.

Daily Increase: 13.57%

Current Price: $0.9984

Current Market Value: $841.05M

24-Hour Trading Volume: $26.18M

2. TRU: TrueFi is a collateral-free loan protocol driven by on-chain credit scoring to maximize capital efficiency for borrowers and yield for lenders.

Daily Increase: 12.21%

Current Price: $0.0082

Current Market Value: $101.75M

24-Hour Trading Volume: $22.11M

3. PENDLE: Pendle Finance is a yield trading protocol that allows users to tokenize and trade future yields using top yield-generating protocols such as Aave, Compound, and Wonderland.

Daily Increase: 7.98%

Current Price: $0.1315

Current Market Value: $501.41M

24-Hour Trading Volume: $114.64M

DeFi: An overall daily increase of 5.51%

1. BOND: BarnBridge is a risk tokenization protocol for DeFi. Its application allows users to pick from adversarial pools known as batches, and hold positions against risk factors like interest rates or asset prices.

Daily Increase: 44.43%

Current Price: $2.152

Current Market Value: $20.86M

24-Hour Trading Volume: $2.75M

2. RDNT: A full-chain money market where users can deposit any major asset on any major chain and borrow various supported assets across multiple chains.

Daily Increase: 22.68%

Current Price: $0.0924

Current Market Value: $102.74M

24-Hour Trading Volume: $121.73M

3. PNG: Pangolin Exchange is a DEX driven by an AMM on Avalanche. Pangolin is community-driven, with tokens distributed 100% to the community.

Daily Increase: 22.58%

Current Price: $0.2807

Current Market Value: $61.3M

24-Hour Trading Volume: $1.06M

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

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