BTC could hit $66K or test $49K

Hot projects + Market overview

I. Mainstream exchange news

• Binance has added Dogs (DOGS) on Earn, Buy Crypto, Convert, and Margin.
• Binance stated that the TON network upgrade is taking longer than expected due to unforeseen technical challenges.
• Binance Futures will launch NULS/USDT and DOGS/USDT perpetual contracts with up to 75x leverage.
• Binance will list Eurite (EURI), a Euro stablecoin regulated under MiCA.
• Coinbase has partnered with Replit to enable developers to build and deploy AI Wallet applications in minutes.

II. Mainstream projects and trending events

• The Economic Daily, a Chinese state-owned newspaper, has warned that as virtual assets and new technologies evolve, they are increasingly used by criminals to conceal money laundering activities within online transactions.
• Bitcoin extension network Fractal Bitcoin will launch its mainnet on September 9.
• Telegram founder Pavel Durov may be detained in France until August 28. In response to Durov’s arrest, the TON community launched a campaign urging members to change their social media avatars in support, while the Free Pavel Durov mini-program saw a surge in users, with 20% of its 300 million $FREE token airdrop already claimed.
• The US SEC has settled its July 2020 charges against Plutus Lending LLC (Abra) for selling unregistered crypto asset securities via its crypto lending product.
• The Baby Doge team has given up ownership of the BabyDoge contracts on the Ethereum and BNB chains.
• To stabilize the dollar peg of its GHO stablecoin, Aave Labs proposed an update to its Stability Module using BlackRock’s tokenized BUIDL fund shares.
• Lido DAO has approved a six-month, $150,000 incentive program to enhance governance participation and transparency through an on-chain delegation platform, allowing token holders to retain control over their votes.
• EigenLayer's data availability solution, EigenDA, has expanded its support to include native token restaking for Ethereum Layer 2 scaling networks.

III. Funding news

• Ethereum research company Chainbound has completed a $4.6 million seed round, led by Cyber Fund.
• BeraChain ecosystem's automated leverage protocol Origami Finance has raised $1.5 million in a seed funding, participated in by Ouroboros Capital.

IV. Regulatory news

• The Indian government is investigating Telegram over the app’s potential misuse for criminal activities, particularly extortion and gambling. This could lead to a possible ban if the findings are unfavorable.
• Russia is preparing to test cryptocurrency exchanges and digital tokens to facilitate cross-border transactions and alleviate payment issues caused by international sanctions. This move aims to address the difficulties businesses face due to these sanctions.

V. Popular projects 

Market overview

BTC reached a high of $65,000 before pulling back and dropping below $64,000. The next support level is the current 1-hour MA140 (140-period moving average on the 1-hour chart) at $62,552.

As long as BTC holds above $62,552, a rebound towards $66,000 could be expected.

However, if BTC falls below $60,342, it could signal the end of the uptrend that began at $49,000.

FOFAR is up 43% in a day

The price of FOFAR, a memecoin built on the Tron network and inspired by Matt Furie's Boy's Club comic, has surged 43% in the last 24 hours.

The token positions itself as the mascot of Tron and has on-chain liquidity of $775,000, with a current market cap of $20.78 million.

EBULL is up 69% in a day

The price of EBULL, a memecoin inspired by a tweet from Vitalik Buterin where he posted an image with the text "Ethereum is good," has surged 69% in the last 24 hours.

The tweet garnered 3.2 million views, and the name "Eth Bull" emerged from this incident.

The token has reached a market cap of $22.4 million and on-chain liquidity of $400,000.

FWOG is up 27% in a day

The price of FWOG, a frog-themed memecoin created by meme artist @Groowut, has surged 27% in the last 24 hours.

Known for its high-quality art and strong on-chain wealth effects, the token has recently hit new highs.

The project has actively engaged its community on X with multiple meme images, reaching 11,500 holding addresses and a 24-hour trading volume of $21 million.

PHA is up 13% in a day

Phala Network, an execution layer for Web3 AI, has seen its token PHA rise by 13% in the last 24 hours.

Phala Network enables AI to interact with and understand blockchains, allowing developers to build, launch, and monetize AI agents with built-in security.

Originally a privacy computing infrastructure on Polkadot, Phala has pivoted to focus on AI, leading to a 2,000% increase in AI agent contracts month-over-month and a 38% year-over-year growth in active users in June.

The token's recent rebound brings its market cap to $98.8 million.

On-chain daily

1.SWAN: SWAN is a memecoin on the Solana chain featuring a rapper black swan.

Current Price: $0.0014

Historical High:$0.0016

24-Hour Change: +24.06%

Current Market Value: $1.4M

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

2.FWOG: FWOG is a memecoin on the Solana chain featuring a long-legged, long-armed frog with large feet. This is a community-driven version of the rugged $flog. There are no developers involved, and it has gained support from many Milady holders. Cole, one of the original creators of Pudgy Penguins, has also expressed interest in it on X.

Current Price: $0.068

Historical High:$0.075

24-Hour Change: +15.21%

Current Market Value: $66M

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

3.r/snoofi: snoofi is a memecoin on the Solana chain designed for Reddit fans and crypto enthusiasts, blending Reddit humor with blockchain technology, and inspired by Doge.

Current Price: $0.011

Historical High:$0.075

24-Hour Change: +39.32%

Current Market Value: $11.3M

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

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

Current Price: $0.0020

Historical High:$0.0026

24-Hour Change: +31.97%

Current Market Value: $20M

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

5.vibes: vibes is a memecoin on the Solana chain featuring a monkey wearing headphones with its eyes closed.

Current Price: $0.0056

Historical High:$0.0072

24-Hour Change: +244%

Current Market Value: $5.5M

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

6.Simons Cat: Simons Cat is a memecoin on the BNB chain, featuring the protagonist from the animated series 'Simon's Cat.'

Current Price: $0.0000275

Historical High:$0.000028

24-Hour Change: +3.71%

Current Market Value: $210M

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

Daily runes observation

Gas Fee Change:

The current BTC transaction fee remains low at 5 satoshis/byte. Regardless of the cryptocurrency's price, transaction fees have remained persistently low for two months.

Today's Popular Projects:

1. THE•SUNWUKONG

   - Fully minted

   - Market Value: $170K

   - 24-Hour Trading Volume: $109,462 

   - 24-Hour Change: +2869%

   - Holding Addresses:350

2.ZYN•MOONS•ON•OPNET

   - Fully minted

   - Market Value: $1.08M

   - 24-Hour Trading Volume: $4,021

   - 24-Hour Change: +208%

   - Holding Addresses:1,063

3.PUPS•WORLD•PEACE

   - Fully minted

   - Market Value: $44M

   - 24-Hour Trading Volume: $13,523

   - 24-Hour Change: +17%

   - Holding Addresses:7,388

Top Rune Projects Tracking:

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

  - Current Price: 5.22 Sats

  - 24-Hour Change: -4.46%

  - Current Market Value: 5,225 BTC

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

  - Current Price: 3.8 Sats

  - 24-Hour Change: -2.56%

  - Current Market Value: 798 BTC

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

  - Current Price: 6.18 Sats

  - 24-Hour Change: -1.9%

  - Current Market Value: 1,295 BTC

Performances of today's top three tracks

AI: An overall daily decrease of 0.14%

1.TRAC: OriginTrail is a decentralized knowledge graph that allows the world's data assets to be structured, linked, persistent, and understandable.

 - Daily Increase: +10%

 - Current Price: $0.638

 - Current Market Value: $259M

 - 24-Hour Trading Volume: $5.46M

2.AKT: The Akash Network is a decentralized peer-to-peer marketplace for cloud computing.

 - Daily Increase: +10%

 - Current Price: $2.96

 - Current Market Value: $732M

 - 24-Hour Trading Volume: $51M

3.CTXC: The Cortex Virtual Machine (CVM) is a framework that allows efficient machine learning inference on the Cortex blockchain. It enables the integration of machine learning models into smart contracts and DApps.

- Daily Increase: +7.3%

 - Current Price: $0.186

 - Current Market Value: $41.6M

 - 24-Hour Trading Volume: $21.2M

DePIN: An overall daily decrease of 0.54%

1.HNT：Helium is a decentralized network launched in 2019, which allows users to provide wireless coverage for IoT devices.

 - Daily Increase: +14%

 - Current Price: $7.01

 - Current Market Value: $1.19B

 - 24-Hour Trading Volume: $28.2M

2.NCDT: nuco.cloud is a groundbreaking cloud computing platform poised to redefine how individuals and businesses harness computing power.

- Daily Increase: +7.7%

 - Current Price: $0.26

 - Current Market Value: $8.7M

 - 24-Hour Trading Volume: $237K

3.OCEAN: Ocean Protocol is a data marketplace that facilitates data and AI/ML model exchange, and provides custom monetization of IP in these verticals, with the ultimate aim of democratizing AI training and data services. SingularityNET, Fetch.ai, and Ocean Protocol officially started their ASI token merger, starting with AGIX and OCEAN being merged into FET in July.

- Daily Increase: +6.8%

 - Current Price: $0.61

 - Current Market Value: $397M

 - 24-Hour Trading Volume: $3.3M

Payment: An overall daily decrease of 1.7%

1.CIRUS: CIRUS is a platform turns data into cryptocurrency, which offers an opportunity to own your data and profit from it.

 - Daily Increase: +19%

 - Current Price: $0.0091

 - Current Market Value: $1.2M

 - 24-Hour Trading Volume: $63K

2.PLU: Plutus is a next-generation financial application that allows users to earn free cryptocurrency through everyday debit card payments.

 - Daily Increase: +3%

 - Current Price: $2.79

 - Current Market Value: $16M

 - 24-Hour Trading Volume: $272K

3.WALLET: Ambire Smart Accounts provide options for multiple signers. We support two types of signers. The first one is email/password signers, and the second one is EOAs, like hardware wallets, browser extensions (Web3 wallets), etc. 

- Daily Increase: +0.1%

 - Current Price: $0.0182

 - Current Market Value: $11M

 - 24-Hour Trading Volume: $748K

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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