ETH must rebound significantly; otherwise, altcoins will continue to struggle

Hot projects + Market overview

I. Mainstream exchange news

• Binance will delist the Polygon (MATIC) spot trading pairs and open the POL/BNB, POL/BTC, and POL/ETH trading pairs on September 13.
• Binance will list the MBOX/USDT perpetual contracts with up to 75x leverage.
• Binance will remove five spot trading pairs, including ALCX/BTC and BCH/TUSD.
• Binance will support the Kaia (KLAY) network upgrade and hard fork.
• OKX will launch a pre-market trading for EIGEN.

II. Mainstream projects and trending events

• Telegram founder Pavel Durov has been released on bail of €5 million (around $557 million)and is currently under house arrest, with restrictions preventing him from leaving France.
• Eric Trump, son of US presidential candidate Donald Trump, has officially launched a crypto project called WLFI.
• Layer 1 blockchain Kaia, launched by messaging giants Kakao and LINE, went live on August 29.
• Hamster Kombat will launch its HMSTR token and initiate an airdrop on the TON network on September 26.
• BNB Chain has partnered with Celer, deBridge, and Stargate to introduce the cross-chain bridge BNB Chain Bridge.
• Cardano will undergo the "Chang Hard Fork" upgrade on September 1, introducing on-chain governance features.
• The stablecoin of Maker, which has recently rebranded as Sky, has faced criticism due to its "freeze function."
• Layer 1 blockchain Aptos has launched its Movementum Accelerator program, offering a $1 million prize pool.
• Liquid restaking protocol Renzo has extended its governance token REZ to Solana via Wormhole, allowing the token to be utilized within Solana’s ecosystem and expanding cross-chain utility.
• Solana Labs has opened applications for the second phase of the Solana Incubator.

III. Funding news

• New York-based digital asset management firm ParaFi Capital has raised $120 million from investors including Theta Capital Management and Accolade Partners.
• Web3 streaming platform Myco has completed a $10 million Series A funding round, with participation from Aptos Labs.
• Blockchain game developer double jump.tokyo has raised over $10 million, in a Series D funding round led by SBI Investment.
• Katara AI, an AI platform for Web3 developers, has raised $2.2 million in a seed round led by Diagram Ventures and Sparkle Ventures.

IV. Regulatory news

• Hong Kong has launched a sandbox to test tokenized asset applications in green finance, trade finance, fixed income, and liquidity management.
• China's Supreme People's Court will research the disposal of virtual currencies in legal cases as a major topic for 2024.
• The UAE Ministry of Foreign Affairs is seeking urgent assistance from the French government to provide consular services to Pavel Durov, the founder of Telegram.
• Japanese Prime Minister Fumio Kishida has expressed his hope that Web3 and blockchain technology will address societal challenges in his speech at WebX 2024.

V. Popular projects 

Market overview

The price of BTC hit a low of $57,860, an 11% decline from $65,000. The current trend suggests the correction may not be over, with further downside likely in the coming days.

In the short term, BTC needs to break above $60,000 and then $63,600 to regain its strong position. 

A strong ETH rebound is needed if altcoin prices are to recover.

APES is up 55% in a day

The price of APES, a memecoin featuring an Ape on the Solana network, surged 55% in the last 24 hours.

APES offers a Telegram mini-game and plans to introduce a token-staking feature in the future. The token has on-chain liquidity of $560,000 and a market cap of $22.72 million.

PORK is up 50% in a day

The price of PORK, a fork memecoin of PEPE launched by top crypto influencer PAULY, has surged 50% in the last 24 hours. 

PORK features a pig-themed version of Pepe and has gained widespread attention within the community with on-chain purchases of some PEPE whales.

The PORK token has a market cap of $47.15 million, with liquidity of $2.51 million and a 24-hour trading volume of $3.27 million.

DOGS is up 19% in a day

The price of DOGS, a leading memecoin on the Ton blockchain, has surged 19% in the last 24 hours.

Recently listed on major exchanges including Binance, DOGS has gained significant traction, with over 3.8 million followers on X and 16.85 million subscribers on Telegram.

The DOGS token has a market cap of $770 million, with nearly full circulation, and a 24-hour trading volume exceeding $1.9 billion.

BEL is up 15% in a day

 The price of Bell coin (BEL), a memecoin purportedly created by Dogecoin cofounder@BillyM2k, has surged 15% in the last 24 hours.

Inspired by Nintendo's Animal Crossing, BEL was created in 2013, eight days before Dogecoin, and uses POW consensus without any pre-mining.

BEL has reached a market cap of $43.31 million, with a six-fold increase from its low point.

On-chain daily

1. TRITON: TRITON  is a memecoin on the Ethereum chain, which is a top-ranked web-based cryptocurrency trading tool. With Triton, users can monitor new product launches and gain an early edge at market-leading speed, enabling early access and maximizing profits.

Current Price: $1.53

Historical High:$1.98

6-Hour Change: +246%

Current Market Value: $1.5M

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

2. ART: ART is a memecoin on the Solana chain featuring a community of artists and collectors.

Current Price: $0.0016

Historical High:$0.0018

6-Hour Change: +203%

Current Market Value: $1.8M

Official Twitter:https://x.com/i/communities/1828893820055933324 

3. Neiro: Neiro is a memecoin on the Ethereum chain featuring the new dog of the Doge dog’s owner, which carries on the spirit of memecoins and internet culture.

Current Price: $0.00008

Historical High:$0.00014

24-Hour Change: +44.15 %

Current Market Value: $35.2M

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

4. BGG1: BGG1 is a memecoin on the Solana chain featuring a no-code builder,  which is owned by the community.

Current Price: $0.0034

Historical High:$0.0066

24-Hour Change: +127%

Current Market Value: $3.6M

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

5. MINKY: MINKY is a dog-themed memecoin on the Base chain.

Current Price: $0.00012

Historical High:$0.00012

24-Hour Change: +82.88%

Current Market Value: $1.1M

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

6. EBULL: EBULL is a memecoin on the Ethereum chain featuring a bull holding Ethereum.

Current Price: $0.0011

Historical High:$0.0026

24-Hour Change: +22%

Current Market Value: $1.1M

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

Daily runes observation

Gas Fee Change:

The current BTC transaction fee remains low at 3 satoshis/byte. Regardless of the cryptocurrency's price, transaction fees have remained persistently low for two months.

Today's Popular Projects:

1. ITS•A•FULL•MOON

   - Fully minted

   - Market Value: $661K

   - 24-Hour Trading Volume: $7,264

   - 24-Hour Change: +17%

   - Holding Addresses:925

2. NIKOLA•TESLA•GOD

   - Fully minted

   - Market Value: $7.64M

   - 24-Hour Trading Volume: $14,065

   - 24-Hour Change: +7.4%

   - Holding Addresses:2196

3. NICOLAS•PI•RUNES

   - Fully minted

   - Market Value: $3.1M

   - 24-Hour Trading Volume: $23,952

   - 24-Hour Change: +1.8%

   - Holding Addresses:10,338

Top Rune Projects Tracking:

- DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

  - Current Price: 4.8 Sats

  - 24-Hour Change: -1.7%

  - Current Market Value: 4,880 BTC

- BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

  - Current Price: 5.39 Sats

  - 24-Hour Change: +42 %

  - Current Market Value: 1,131 BTC

- RSIC•GENESIS•RUNE: Rune #8, from RSIC inscription mining project

  - Current Price: 5.96 Sats

  - 24-Hour Change: +2.35%

  - Current Market Value:1,250 BTC

Performances of today's top three tracks

SocialFi: An overall daily decrease of 1.5%

1. Ton: Ton was a Layer1 based on Telegram, which was first proposed in 2018. It failed during its ICO in 2019 due to regulatory issues with the U.S. SEC, halted further development in 2020, and was restarted in 2021. TON aims to provide fast, secure, decentralized payment and digital identity services for over 500 million users. Mini Apps on TON are considered a potential breakthrough for massive adoption, with notable applications including Notcoin and Catizen. It stopped producing new blocks for a certain reason.

 - Daily Increase: +5.9%

 - Current Price: $5.57

 - Current Market Value: $14.14B

 - 24-Hour Trading Volume: $2B

2. SYLO: The Sylo protocol acts as the confidential networking layer for the Sylo App, creating P2P connections and providing a way for users to interact and exchange data confidentially. It is being developed to provide completely decentralized and give confidential communication as a utility to all connected applications within the Sylo ecosystem.

 - Daily Increase: +4%

 - Current Price: $0.000986

 - Current Market Value: $4.15M

 - 24-Hour Trading Volume: $2.45M

3. KIN: KIN is an open platform for micropayments, which allows users to purchase various digital goods and services while supporting content creators.

- Daily Increase: +3.8%

 - Current Price: $0.0(4)1539

 - Current Market Value: $41.6M

 - 24-Hour Trading Volume: $207K

CeFi: An overall daily increase of 1.2%

1. ASD: ASD is BitMax’s platform token.

 - Daily Increase: +17%

 - Current Price: $0.0439

 - Current Market Value: $32.6M

 - 24-Hour Trading Volume: $1.37M

2. SHX: Stronghold is a financial services platform, which uses Stronghold USD to enabe dollar settlement and interoperability between APIs and new payment networks.

- Daily Increase: +6%

 - Current Price: $0.00378

 - Current Market Value: $20.3M

 - 24-Hour Trading Volume: $157K

3. TKO: Tokocrypto is one of Indonesia's largest crypto exchanges, allowing users to invest, buy, and sell digital assets.

- Daily Increase: +2.8%

 - Current Price: $0.307

 - Current Market Value: $23M

 - 24-Hour Trading Volume: $7M

Memecoin: An overall daily increase of 0.7%

1. PORK: PORK is a memecoin on the Ethereum chain, featuring a fork of Pepe, combining Pepe + Fork = Pork.

 - Daily Increase: +47%

 - Current Price: $0.0(6)1392

 - Current Market Value: $46M

 - 24-Hour Trading Volume: $3.2M

2. DOGS: DOGS is a memecoin on Telegram, which has been listed on major centralized exchanges recently.

- Daily Increase: +1.8%

 - Current Price: $0.0148

 - Current Market Value: $765M

 - 24-Hour Trading Volume: $1.38B

3. WSM: WSM is a memecoin on the BSC chain, with full name is Wall Street Memes, representing the memecoin from the 'Wall Street Bet' discussion forum on Reddit. Currently, most of the trading volume occurs on centralized exchanges.

- Daily Increase: +9.3%

 - Current Price: $0.0025

 - Current Market Value: $4.7M

 - 24-Hour Trading Volume: $1.97M

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. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available at the time of writing and may be subject to change.

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