Nasdaq’s decline over the weekend pulled Bitcoin to a low of $52.5K

Hot projects + Market overview

I. Mainstream exchange news

• Binance has launched the NEIROETH/USDT and QUICK/USDT perpetual contracts.
• Binance has received a full regulatory license from the Kazakhstan Astana Financial Services Authority (AFSA).
• WOO X has launched a unique social trading feature called CounterTrading, enabling traders to hedge against lead traders and profit in various market conditions.
• WOO X has launched the third phase of its ORDER staking incentive program running until September 28 with a total of 200,000 ORDER tokens prize pool
• OKX has listed the NEIROETH/USDT, BRETT/USDT, and CAT/USDT perpetual contracts.
• Bitget will list the Catizen token CATI on September 20.
• Coinbase has added the ZKsync token ZK to its listing roadmap.
• Coinbase has opened trading services for the Polygon Ecosystem token POL to residents in Germany.
• OKX will delist the DMAIL, JPG, LITH, STC, and REVV spot trading pairs on September 13.

II. Mainstream projects and trending events

• Fractal Bitcoin has launched its mainnet and revealed its tokenomics model, with 50% of tokens allocated to PoW mining and 5% for presale. Additionally, a voting platform using OP_CAT will soon be introduced, allowing Fractal holders to vote on key proposals.
• India's crypto exchange WazirX, previously hit by a hack, has stated that it filed for a moratorium with the Singapore High Court to secure time for restructuring and compensation solutions, during which it will negotiate with potential investors.
• Telegram CEO Pavel Durov has announced that the platform has reached 10 million paid users. Additionally, Telegram has removed the "People Nearby" feature and will introduce "Businesses Nearby," showcasing verified, legitimate businesses.
• The TON Foundation has announced an additional $24 million worth of TON rewards to its DeFi incentive program, bringing the total to 5 million TON tokens.
• The 141st Ethereum Core Developer Consensus (ACDC) meeting has covered updates to the Consensus Layer in the Pectra upgrade, solutions for resource-limited node operators in PeerDAS, and plans to rebuild PeerDAS Devnet2 on Pectra rather than Deneb.
• Magic Eden's NFT trading volume has surged, following its announcement of the ME token airdrop, with daily trading volume rising from $1 million to an average of $30 million, with a recent peak of $60 million.
• NFT project Pudgy Penguins has announced the launch of the Pengus Club, a soulbound token for holders who have owned their Pudgy Penguins for 1,000 days.
• ETF issuer VanEck has announced plans to close and liquidate its Ethereum Futures ETF (EFUT), with the VanEck ETF Trust board approving the fund's dissolution and liquidation.

III. Regulatory news

• Indian newspaper Business Standard reported that the Financial Intelligence Unit (FIU-India) may approve the resumption of operations for two additional offshore cryptocurrency exchanges in India by March 2025.
• Japan's three major banks, Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, will test a cross-border stablecoin transfer platform, "Project Pax," developed by Progmat, with plans for commercialization by 2025.

V. Popular projects 

Market Overview

On September 9, the Nasdaq dropped 2.55%, with Nvidia falling 4.09%, leading to a new period low for BTC at $52,550. While BTC saw some recovery over the weekend, it remains unclear if this marks the bottom of the decline from $65,000.

BTC must break and stay above the 1-hour moving average (MA140) at $55,856 to confirm the end of the short-term downtrend. To establish $52,550 as the periodical bottom, BTC needs to surpass the 2-hour MA140 at $57,370. Otherwise, further declines could still occur.

Fractal Bitcoin has launched its mainnet

Fractal Bitcoin, a Bitcoin scaling solution, has launched its mainnet and revealed its tokenomics. 

The total token supply is 210 million, with 50% allocated to PoW mining, 15% to the ecosystem treasury, 5% to presales, 5% to advisors, 10% to community donations, and 15% to core contributors.

Presale and team tokens are locked for six months, with a 12-month linear release to reduce sell pressure. 

Following the news, inscription projects experienced a weekend rebound, with SATS seeing a 14% surge at one point.

BOBO is up 38% in a day 

The price of BOBO, a bear market-themed memecoin used to mock poor investment decisions and express pessimism toward financial markets, has surged 38% in the last 24 hours.

BOBO now ranks 663rd by market cap, reaching a total value of $42.51 million.

NEIRO is up 29% in a day

The price of Neiro on ETH, a memecoin named after the Doge dog owner's new puppy, has surged 29% in the last 24 hours.  

After consecutive corrections, the token has made a strong recovery, reaching a market cap of $161 million, with 21,700 holding addresses and a 24-hour trading volume of $78 million.

Significant token unlocks this week

This week, APT, XAI, and RENDER are set for unlocking, collectively releasing a total value exceeding $72 million.

Aptos (APT) will unlock about 11.31 million tokens on September 11, representing 2.32% of the current circulating supply, worth about $66.16 million.

Xai (XAI) will unlock about 35.88 million tokens on September 9, representing 6.27% of the current circulating supply, worth about $6.36 million. 

Render (RENDER) will unlock about 760,000 tokens on September 14, representing 0.19% of the current circulating supply, worth about $3.59 million.

On-chain daily

​​1. DOGE: DOGE is a memecoin on the Ethereum chain, officially named Department Of Government Efficiency. It was created as a collaborative idea between Elon Musk and Donald Trump. In this concept, Trump appoints Musk as the head of this department to control government spending and reduce waste in the U.S.

Current Price: $0.008131

Historical High: $0.009175

24-Hour Increase: 243%

Current Market Value: $7.5M

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

2. NEIRO: NEIRO is a memecoin on the Ethereum chain, featuring Doge’s owner’s newly adopted dog. The previously popular lowercase neiro had a strong rally, and now with NEIRO officially launching on Binance on September 6, the token continues to surge. 

Current Price: $0.1620

Historical High: $0.1922

24-Hour Increase: 28.22%

Current Market Value: $162M

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

3. VISTA: VISTA is a memecoin on the Ethereum chain, introduced as the first value-compounding deflationary token and the native currency of EthervistaDEX.

Current Price: $21.31

Historical High: $26.40

24-Hour Increase: 23.23%

Current Market Value: $25M

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

4. TITANX: TITANX is a memecoin on the Ethereum chain, pioneering a fairly distributed cryptocurrency that is entirely community-owned. It features no presale, ICO, or fundraising, making it a truly fair issuance with immutable, trustless, and permissionless code. 

Current Price: $0.0667

Historical High: $0.06675

6-Hour Increase: 6.47%

Current Market Value: $53.9M

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

5. E: Etheism is a memecoin on the Ethereum chain that combines ERC-20 tokens with NFTs. Each token comes with a unique SVG image (NFT) called "Etheist Freak," which evolves based on transaction history and mathematical factors. E ensures data permanence by storing the image directly on the blockchain. 

Current Price: $3884.42

Historical High: $8046.47

24-Hour Increase: 14.63%

Current Market Value: $3.8M

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

6. ABCDE: ABCDE is a memecoin on the Solana chain, named after the alphabet string “abcdefghijkmnopqrstuvwxyz” and originating from the pump fun trend.

Current Price: $0.001735

Historical High: $0.001906

24-Hour Increase: 20.36%

Current Market Value: $1.2M

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

Daily runes observation

Gas Fee Change:

Current BTC transaction fee: 3 satoshis/byte

Note: Despite market conditions, the fee has remained persistently low for three months.

Today's Popular Projects:

WUKONG•RUNES:

Status: Fully minted

Market Value: $208K

24-Hour Trading Volume: $166,550

Increase: 1247%

Holding Addresses: 617

BLACK•MYTH•WUKONGS:

Status: Fully minted

Market Value: $309K

24-Hour Trading Volume: $84,662

Increase: 687%

Holding Addresses: 779

BILLION•DOLLAR•CAT:

Status: Fully minted

Market Value: $13.7M

24-Hour Trading Volume: $1,746

Increase: 24%

Holding Addresses: 8219

Top Rune Projects Tracking: 

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

Current Price: 4.55 Sats

24-Hour Change: -4.2%

Current Market Value: 4550 BTC

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

Current Price: 4.589 Sats

24-Hour Change: -3.39%

Current Market Value: 962 BTC

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

Current Price: 2.6 Sats

24-Hour Change: -21%

Current Market Value: 546 BTC

Performances of today's top three tracks

SoclaFi Sector Daily Increase: 3.7%

1. 00: 00 is a community-driven creator cryptocurrency platform, where all creator tokens are bought and sold on the Zero market using $00 as the medium of exchange.

Daily Increase: 13.3%

Current Price: $0.039

Current Market Value: $9.24M

24-Hour Trading Volume: $597K

2. POOLX: POOLX is a decentralized cross-chain IDO platform designed to help crypto industry projects raise funds before listing. 

Daily Increase: 5%

Current Price: $2.1

Current Market Value: $10.5M

24-Hour Trading Volume: $350K

3. TON: TON is a Layer 1 blockchain initially developed by the Telegram team, proposed in 2018 to provide over 500 million Telegram users with fast, secure decentralized payments, digital identity, and more.

Daily Increase: 4.2%

Current Price: $4.9

Current Market Value: $12.4B

24-Hour Trading Volume: $288M

AI Sector Daily Increase: 2.5%

1. PAAL: PAAL is a personalized AI assistant, known as the crypto version of ChatGPT, designed to answer any crypto-related questions or provide relevant knowledge through PAAL AI.

Daily Increase: 7.7%

Current Price: $0.147

Current Market Value: $126M

24-Hour Trading Volume: $1.1M

2. AGIX: SingularityNET is a decentralized AI platform and marketplace where agents on the platform can outsource tasks to one another.

Daily Increase: 7%

Current Price: $0.614

Current Market Value: $790M

24-Hour Trading Volume: $604K

3. OCEAN: Ocean Protocol is a tool for the Web3 data economy, providing developers with the tools to build data markets, manage data NFTs, and DeFi data tokens. Data owners and consumers can use the Ocean Market app to securely and privately publish, discover, and use data.

Daily Increase: 6.7%

Current Price: $0.61

Current Market Value: $397M

24-Hour Trading Volume: $393K

Layer 1 Sector Daily Decrease: 1.7%

1. TET: TET is a decentralized ledger protocol management platform. By adopting proprietary HashSwap components, it provides real-time event state transmission and event ownership updates throughout the system, offering decentralized access levels to functional system modules.

Daily Increase: 8.7%

Current Price: $7.39

Current Market Value: $55.6M

24-Hour Trading Volume: $980K

FTM: FTM is a Layer-1 platform with

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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