BTC could hit $64.3K at the 61.8% Fibonacci retracement level

Hot projects + Market overview

I. Mainstream exchange news

• Binance CEO Richard Teng has tweeted that recent drops in cryptocurrency and stock prices are due to macroeconomic factors and shouldn't be seen as signs of a long-term negative trend.
• OKX Web3 wallet has launched Cryptopedia Season 22 with a total reward pool of over 350K USDT for completing TON ecosystem-related tasks.

II. Mainstream projects and trending events

• The crypto market's 24-hour trading volume reached $244 billion on August 5, the highest since March 6.
• US-listed Semler Scientific has bought 101 BTC for $6 million.
• The Fear & Greed Index dropped to 17 on August 6, the lowest since July 2022. Market sentiment is in the “Extreme Fear” zone.
• AI-enabled layer 2 Zircuit will allocate 21% of the ZRC token to airdrops and community rewards.
• Five major market makers including GSR Group and Jump Trading, have transferred over 130,000 ETH to centralized exchanges since August 3.
• Private bank Xapo has launched interest-bearing BTC accounts in the UK after obtaining a license.
• The Aave Treasury earned $6 million overnight through decentralized liquidations.
• Australian rapper Iggy Azalea will speak at Solana Breakpoint in September.
• Crypto DEX PancakeSwap has burned approximately 8.8643 million CAKE tokens, worth around $12 million.
• ARK Invest purchased approximately $14.81 million worth of Coinbase shares on August 5.

III. Funding news

• Blockchain game developer Cartridge has completed a $7.5 million Series A funding round, led by Bitkraft Ventures.

IV. Regulatory news

• Japanese Finance Minister Shunichi Suzuki has stated that stock prices are determined by market forces, and mentioned close cooperation with the Bank of Japan and the Financial Services Agency to support this process.
• Chicago Fed President Austan Goolsbee has made assurances that if the economy worsens, the Fed will take necessary actions to address it.

V. Popular projects 

Market overview

BTC fell to a low of $49,000, but a positive opening in the US stock market improved risk sentiment, leading to a rebound.

If $49,000 represents the bottom of the correction from $73,777, BTC could potentially rise to around $64,300, aligning with the 61.8% Fibonacci retracement level of the downtrend.

The crucial factor is whether the US stock market can stabilize, as this will significantly influence whether $49,000 can be confirmed as the cycle's bottom.

BTC Spot ETFs as of August 5

Overall Data:

Total Net Inflows: $17.34 billion

Daily Net Outflows: $168 million

Single-Day Turnover: $5.24 billion

Proportion of BTC’s Market Value: 4.55%

Breakdown by ETF:

GBTC:

Net Asset Value: $12.73 billion

Single-Day Net Outflows: $69.12 million

Cumulative Net Outflows: $19.113 billion

Single-Day Turnover: $691 million

FBTC:

Net Asset Value: $9.4 billion

Single-Day Net Outflows: $58.04 million

Cumulative Net Inflows: $9.74 billion

Single-Day Turnover: $852 million

BITB:

Net Asset Value: $2.02 billion

Single-Day Net Outflows: $2.9 million

Cumulative Net Inflows: $2.04 billion

Single-Day Turnover: $217 million

ETH Spot ETFs as of August 5

Overall Data:

Total Net Outflows: $509 million

Daily Net Inflows: $1.64 million

Single-Day Turnover: $715 million

Proportion of ETH’s Market Value: 2.27%

Breakdown by ETF:

ETHE:

Net Asset Value: $4.72 billion

Single-Day Net Outflows: $46.84 million

Cumulative Net Outflows: $2.16 billion

Single-Day Turnover: $261 million

ETHW:

Net Asset Value: $210 million

Single-Day Net Inflows: $7.2 million

Cumulative Net Inflows: $295 million

Single-Day Turnover: $26.95 million

FETH:

Net Asset Value: $233 million

Single-Day Net Inflows: $16.15 million

Cumulative Net Inflows: $313 million

Single-Day Turnover: $72.59 million

Zircuit tokenomics

Zircuit, a fully EVM-compatible zero-knowledge rollup, has announced its tokenomics on August 5 following a recent funding round that included Binance Labs and Mirana Ventures. 

The total supply of tokens is 10 billion, with the following distribution:

• 21% allocated to airdrops and community rewards (7% for Season 1 airdrop, 14% for future airdrops and rewards)

• 12.61% for community governance

• 17.93% for ecosystem development

• 18.70% for the foundation

• 18.74% for the team

• 11.02% for investors

Over 262,200 addresses have claimed the first airdrop and the protocol's total value locked (TVL) exceeds $2 billion.

LOCKIN is up 84% in a day

LOCKIN, a memecoin with a lock-up theme, has surged 84% in the last 24 hours.

The LOCKIN token's total supply is 1 billion, with 100% of the liquidity pool burned. 

The current on-chain liquidity is $688,000, with 5,980 holding addresses. After an 80% correction from its peak, LOCKIN experienced a significant rebound.

CatDog is up 50% in a day

CatDog, a memecoin that combines cat and dog themes, has surged 50% in the last 24 hours. 

The CatDog project features zero taxes and burned LP, with plans to release related products like comics. 

CatDog reached a new all-time high, with on-chain liquidity of $708,000 and a market cap of $56.58 million. The 24-hour trading volume has exceeded $20 million.

On-chain Daily

1. Andy: Andy is a memecoin on the Ethereum chain, featuring a character from the Pepe comic "Boy's Club". Tokens with the same name also exist on other chains.

Current Price: $0.00008316   

12-Hour Change: +37.27%  

Current Market Value: $83.1M 

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

2. HOPPY: HOPPY is a memecoin on the Ethereum chain featuring a human-like frog. It was created from the character in Matt Furie's comic "The Night Riders".

Current Price: $0.00005792  

Historical High: $0.0002095  

24-Hour Change: +49.61%  

Current Market Value: $24.3M  

Official Twitter:https://x.com/hoppycoinERC20

3. BabyNeiro: BabyNeiro is a memecoin on the Ethereum chain, which belongs to the Neiro token family. It features the baby of Neiro.

Current Price: $0.01505

6-Hour Change: +5807%

Official Twitter: None

4. BTW: BTW is a memecoin on the Solana chain featuring a banana taped to the wall, with a full name ‘Banana Tape Wall’.

Current Price: $ 0.004443  

24-Hour Change: +222%  

Current Market Value: $4.4M  

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

5. CATDOG: CATDOG is a memecoin on the Solana chain created to solve the conflicts between cats and dogs.

Current Price: $0.0005628  

Historical High: $0.04307  

24-Hour Change: +42.8%

Current Market Value: $55.6M  

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

6. GINNAN: GINNAN is a memecoin on the Solana chain, claiming to be Doge's cat sister, with the full name of Ginnan the Cat. 

Current Price: $0.0(5)4547 

Historical High: $0.0(5)9889  

24-Hour Change: +50%

Current Market Value: $31.6M  

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

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee remains low at 4 satoshis/byte and fast at 6 satoshis/byte, the average speed remains consistent.

Today's Popular Projects:

1. BILLION•DOLLAR•CAT

   - Fully minted

   - Market Value: $25.71M

   - 24-Hour Trading Volume: $14.1K

   - 24-Hour Change: +41.3%

   - Holding Addresses: 7,803

2.BYZANTINE•GENERAL

   - Fully minted

   - Market Value: $21.2M

   - 24-Hour Trading Volume: $4.7K

   - 24-Hour Change: +37.62%

   - Holding Addresses: 684

3. SAIKO•HAMSTER

   - Fully minted

   - Market Value: $23.7M

   - 24-Hour Trading Volume: $8120

   - 24-Hour Change: +35.92%

   - Holding Addresses: 1,727

Top Rune Projects Tracking:

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

  - Current Price: 4.95 Sats

  - 24-Hour Change: +31.97%

  - Current Market Value: 5,012 BTC

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

  - Current Price: 4.39 Sats

  - 24-Hour Change: -16.98%

  - Current Market Value: 923 BTC

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

  - Current Price: 3.32 Sats

  - 24-Hour Change: -1.99%

  - Current Market Value: 682 BTC

Performance of Today's Top Three Tracks

AI: An overall daily increase of 11.4%

1. PAAL:PAAL is an artificial intelligence information engine that searches across a broad range of knowledge domains, market data, and curated news to provide comprehensive insights. Its features also include customizable command presets and agile monitoring agents to ensure proactive information delivery.

   - Daily Increase: + 37.95%

   - Current Price: $0.2236

   - Current Market Value: $190M

   - 24-Hour Trading Volume: $6.2M

2. AKT: The Akash Network is a decentralized peer-to-peer marketplace for cloud computing, which is secured by its native token AKT.

 - Daily Increase: + 37.4%

   - Current Price: $2.749

   - Current Market Value: $677M

   - 24-Hour Trading Volume: $31.8M

3. TAO: TAO is an open-source protocol that supports blockchain-based machine learning networks. Machine learning models are collaboratively trained and rewarded in TAO based on the informational value they contribute to the collective. TAO also grants external access, allowing users to extract information from the network while tailoring their activities to their specific needs.

- Daily Increase: + 33%

- Current Price: $250

- Current Market Value: $1.795B

- 24-Hour Trading Volume: $147M

DePIN: An overall daily increase of 9.8%

1. STOJR: Storj is a decentralized cloud storage layer that supports developers in creating optimal data protection and privacy features within their applications.

- Daily Increase: + 40%

- Current Price: $0.4

- Current Market Value: $57M

- 24-Hour Trading Volume: $102M

2. HONEY: Hivemapper (HONEY) is a decentralized, up-to-date global mapping network built with dashcams through a Drive-to-Earn model. This new map economy marks a significant departure from how people built and owned the map service, which ensures the benefits are owned globally.

- Daily Increase: + 28%

- Current Price: $0.076

- Current Market Value: $166M

- 24-Hour Trading Volume: $1.5M

3. STOS: Stratos is a decentralized data mesh that provides a scalable, reliable, and self-balanced storage, database, and computation network. 

- Daily Increase: + 17%

- Current Price: $0.4

- Current Market Value: $25M

- 24-Hour Trading Volume: $390K

Memecoins: An overall daily increase of 9.7%

1. Miggles: Miggles is a memecoin on Base, touted as the mascot of Coinbase. It is not affiliated with Coinbase or Base, but it is one of the few memecoins on Base with relatively good fundamentals recently.

- Daily Increase: + 80%

- Current Price: $0.026

- Current Market Value: $25M

- 24-Hour Trading Volume: $52M

2. SATS: SATS is a BRC-20 token which pays tribute to Satoshi Nakamoto. SATS is an abbreviation of "satoshi," the smallest unit of Bitcoin, with one satoshi equaling 0.00000001 BTC. This token is created by an anonymous team.

- Daily Increase: + 29%

- Current Price: $1.56

- Current Market Value: $47.3M

- 24-Hour Trading Volume: $418K

3. MUMU:MUMU is a memecoin on the Solana chain, featuring a mascot representing a bull market. It contrasts with another meme animal, Bobo the bear, which symbolizes a bear market.

- Daily Increase: + 26%

- Current Price: $0.0(4)609

- Current Market Value: $141M

- 24-Hour Trading Volume: $35M

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