Whale buyers could explain wDOG's 50-fold price surge

Hot projects + Market overview

I. Mainstream exchange news

• A total of 99,308 BTC, valued at approximately $5.96 billion, has been withdrawn from centralized exchanges since July 11, 2024, bringing BTC reserves on these platforms to their lowest level since November 19, 2018, according to on-chain data analytics CryptoQuant.
• OKX will terminate the accounts of any user interacting with Tornado Cash, according to CEO Star Xu.

II. Mainstream projects and trending events

• Jupiter co-founder Meow announced on X that Jupiter's Swap feature charges no platform fees, making the discount 100% free for users.
• X CEO Elon Musk is set to have an unscripted conversation with US presidential candidate Donald Trump on August 13, with no limits on discussion topics.
• According to Etherscan data, the average fee on the Ethereum mainnet plummeted below 1 Gwei on August 11, marking the lowest level in over four years.
• Syncracy Capital's co-founder Ryan Watkins highlighted that Solana is undervalued compared to Ethereum, despite performing similarly on key metrics and hosting rapidly growing protocols
• Tornado Cash developer Alexey Pertsev is seeking additional funds to cover legal expenses.
• According to Bitcoin Magazine, long-term Bitcoin holders have acquired over 184,500 BTC during the recent market pullback.
• As of August 9, Grayscale's Bittensor Trust (TAO Trust) has reached an assets under management (AUM) total of $1,623,160.06, while its SUI Trust has reached an AUM of $428,797.15.
• CoinGecko noted that the recent drop in the crypto market, which saw the market cap fall from $2.44 trillion to $1.99 trillion, is not among the worst in the past decade, as daily losses stayed below 10%. The most severe drop was on March 13, 2020, when the market plummeted by 39.6%.
• Tally has proposed launching a liquid staking token, stARB, with voting to conclude on August 16.
• USDT and USDC supply has grown by nearly $3 billion within a week.
• Omnichain liquidity layer Orderly Network will conduct an airdrop in August, with 60% of net fee rewards distributed to token stakers.
• BRC-100 founder Mikael announced they would fork BRC-20 to address its current limitations, including the lack of programmability, Turing completeness, scalability, and DeFi capabilities.
• The CBOE has revised and resubmitted its Bitcoin ETF options application, expanding it to 44 pages with added details on position limits and market manipulation prevention.

III. Funding news

• Innovative mini-game network Televerse, built on the TON blockchain, has raised $1 million in a Seed Round led by Summer Capital.
• Bitcoin scaling solution Nexio, which uses parallel roll-up technology, has completed a $2.2 million Pre-Seed Round led by Lattice.

IV. Regulatory news

• ​​Nigeria's SEC is cautiously open to Bitcoin regulation and is willing to explore related frameworks.
• Peru has introduced VASP regulations to prevent using virtual asset platforms for illegal activities.
• The US CFTC has paid $1 million to a whistleblower in a digital asset case.
• The city of Santa Monica, California, has established a Bitcoin Office to promote Bitcoin education and seek collaboration opportunities.
• The US IRS has released a draft crypto tax form 1099-DA to provide “more ease and clarity” for those paying US crypto taxes.
• Thailand's SEC has launched a digital asset regulatory sandbox to encourage experimentation and development of new digital asset services.

V. Popular projects 

Market overview

BTC attempted to break through $62,000 over the weekend but only reached a high of $61,858 before correcting.

The current level of $58,100 reflects a 7.4% drop, meeting the minimum retracement requirement.

As long as BTC stays above $55,000, there is potential for another upward movement, targeting $64,500.

wDOG is up 17% in a day

The price of Wrapped Dog (wDOG), a standout memecoin on Pump.fun, has surged 50-fold from its low point.

WOO X Research has recently detected that wDOG has been continuously bought by large holders.

wDOG's market cap has reached $16 million, with a 24-hour trading volume of $18 million.

TRUMP is up 107% in a day

TRUMP, a Trump-related memecoin that can be earned by playing the TRUMP SHOOTER game, has surged 107% in the last 24 hours.

The token has a total supply of 5 billion, with 15% reserved for CEX listings, 50% for liquidity, 10% for airdrops, 5% for community rewards, and 20% for future development.

Since its launch on July 31, TRUMP's price has increased over 300 times, despite having only $524,000 in on-chain liquidity. TRUMP’s market cap is $140 million.

SUI has outperformed BTC

Following Grayscale’s August 7 announcement of new funds for TAO and SUI, the SUI Trust's assets under management (AUM) have reached $428,797 as of August 9.

During the recent market rebound, SUI’s price increase has outperformed BTC’s by 73%, making it one of the top performers among Layer 1 tokens, with increasing attention from investors.

GROK is up 11% in a day

On August 12, Elon Musk tweeted that the beta version of the AI model Grok 2 is nearing release. This news triggered an 11% surge in the price of GROK, a memecoin inspired by the Grok concept.

GROK's market cap has reached $33.83 million, with a 24-hour trading volume surpassing $10 million.

On-chain daily

1. DMUSK: DMUSK is a memecoin on the Ethereum chain featuring the dark version of Elon Musk..

Current Price: $0.0(4)294

Historical High:$0.0(4)294

6-Hour Change: +50%  

Current Market Value: $12.3M

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

2. GROK: GROK is a memecoin on the Ethereum chain featuring the AI Grok which is created by Musk. The hype is due to Musk posting an image of Grok on X and announcing that the Grok 2 Beta version is coming soon.

Current Price: $0.00539

Historical High:$0.00572

12-Hour Change: +13%

Current Market Value: $34M 

Official Twitter: None

3. CRYING: CRYING is a memecoin on the Solana chain featuring a crying cat. It’s now taken over by the community.

Current Price: $ 0.0095

Historical High:$0.0103

12-Hour Change: +288% 

Current Market Value: $9.1M

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

4.Hazel: Hazel is a memecoin on the Solana chain featuring that anything can be placed on a dog's nose. It is currently taken over by the community.

Current Price: $0.00138

Historical High:$0.00319

6-Hour Change: +58% 

Current Market Value: $1.3M

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

5.WWIF: WWIF is a memecoin on the Solana chain, with the full name “Wrapped Dog wif Hat”, featuring the wrapped wif dog.

Current Price: $0.0(4)318

Historical High:$0.0(4)367

6-Hour Change: - 7% 

Current Market Value: $3.1M

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

6.UWU: UWU is a memecoin on the Solana chain, featuring a unicorn, with the official website styled in a millennium Japanese aesthetic. It has 40,000 Twitter followers, including notable meme projects such as RETARDIO and Popcat.

Current Price: $0.00176

Historical High:$0.00184

24-Hour Change: + 189% 

Current Market Value: $28M

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

Performances of today's top three tracks

CeFi: An overall daily decrease of 3.58%

1. APX: APX is ApolloX's platform token launched in December 2021 with a maximum supply of 10 billion

   - Daily Increase: +33.33%

   - Current Price: $0.052

   - Current Market Value: $22.6M

   - 24-Hour Trading Volume: $1.01M

2. QASH: Quoine, now rebranded as Liquid is a global cryptocurrency company aiming to solve liquidity issues in crypto investments.

 - Daily Increase: +10.38%

 - Current Price: $0.0135

 - Current Market Value: $10.98M

 - 24-Hour Trading Volume: $185.91M

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

 - Daily Increase: +1.08%

 - Current Price: $0.04291

 - Current Market Value: $31.88M

 - 24-Hour Trading Volume: $1.37M

NFT: An overall daily decrease of 3.9%

1. RARE: RARE is the platform token of the NFT platform SuperRare.

- Daily Increase: +37.34%

 - Current Price: $0.0937

 - Current Market Value: $65.2M

 - 24-Hour Trading Volume: $44.77M

2. FINE: Refinable is the first major NFT marketplace on the BNB Chain.

- Daily Increase: +24%

 - Current Price: $0.00238

 - Current Market Value: $97,800

 - 24-Hour Trading Volume: $228,000

3. GQ: Galactic Quadrant (GQ) is the governance token of Outer Ring MMO. Outer Ring is an open-world, action, MMORPG game made in 3rd-person on a sandbox.

- Daily Increase: +5.3%

 - Current Price: $0.000288

 - Current Market Value: $1.77M

 - 24-Hour Trading Volume: $1.56M

DeFi: An overall daily decrease of 4.87%

1. BOND: BarnBridge is a cross-platform risk management protocol.

- Daily Increase: +44.43%

 - Current Price: $2.152

 - Current Market Value: $20.86M

 - 24-Hour Trading Volume: $6.01M

2. TURBO: Turbos Finance is a non-custodial DEX on the Sui ecosystem, supported by Jump Crypto and Mysten Labs.

- Daily Increase: +17.71%

 - Current Price: $0.00185

 - Current Market Value: $3.45M

 - 24-Hour Trading Volume: $560,000

3. HMX: HMX is a next-gen decentralized perpetual exchange with a cross-margin and multi-asset collateral support on Arbitrum.

- Daily Increase: +10.78%

 - Current Price: $2.23

 - Current Market Value: $4.53M

 - 24-Hour Trading Volume: $21,000

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