Weekly Overview

During this week, the overall performance of the crypto market has been characterized by small-scale fluctuations, similar to last week, with still no clear signs of a rise or fall. The rise and fall of most Mainstream Tokens have remained within a small range, and overall, the market continues to show weakness in the prices of most key Mainstream Tokens. Generally speaking, the prices of key Mainstream Tokens have increased compared to last week, and the overall market has also experienced some rise. This week, the various news factors in the market have been relatively routine, with a lack of newly unlocked Tokens. Currently, the crypto market has returned to above $20,000, with the overall trend characterized by small price fluctuations during the week, but the altcoin market has shown a better performance in terms of price increase. The overall market capitalization of the crypto market has experienced a small pump compared to the same period last week, reaching around $2.02 trillion, with a 1.25% increase in the past 24 hours. The market sentiment has fallen to around 37. The trends of key Mainstream Tokens this week are currently relatively stable, and it is expected that there will be a new round of trend changes at the end of the week.

Compared to last week, the performance of the cryptocurrency market this week was relatively weak. After a small pump appeared in the closing period last weekend, there was a certain degree of price decline this week, followed by a slight rebound due to external factors. Currently, the market remains relatively weak overall. The ratio of rise and fall of Mainstream Tokens in the past week is 87:13, with most Mainstream Tokens showing a significant decline. The BTC price rose to around $58,000 during the week, with a weekly increase of about 3%. The current price is maintained at $57,928. The weekly decline of ETH is about 1.4%, and it is currently maintained around $2,337.

The overall market performance this week is mainly characterized by a slight rebound, but most Mainstream Token varieties have maintained a small range of gains over the week. BNX has achieved a 46% increase in the 7-day period, and the price curve continues to pump. It has the largest increase among Mainstream Token varieties this week, and the price is currently maintained at around $1.62.

The overall market is unlikely to warm up this weekend, and it is expected that the overall market will continue to fluctuate slightly during the weekend.

encryption market

🔥encryption research platform Revelo Intel CEO Nick Drakon tweeted that he was recently the victim of an armed robbery, and the gang was particularly interested in encryption assets and knew the deposit address of the encryption business he operated.

🔥 Some users in the Polymarket community expect the platform to launch a Token next year, and a considerable number of traders have already been trying to win potential Airdrops.

🔥According to Arkham monitoring data, Franklin Dutton's BTCexchange fund EZBC Bitcoin ETF marked Address transferred 1189 BTC, worth about 66.99 million USD, to an unidentified bc1qzt starting Address last week.

🔥According to Spot On Chain monitoring, a multi-signature wallet received 3800 ETH (about $9.99 million) from Vitalik Buterin has been continuously sold in recent days.

🔥 According to The Block, developers of the Web3 Social Web Friend.Tech have relinquished control over smart contracts and the platform has been largely shut down.

🔥A Whale that has accumulated 30,654 ETH (worth $88.43 million) at an average price of $2,885 through loop lending. Starting from 9/7, ETH has been sold and close all positions have been basically completed. The loss from this loop lending Long ETH is as high as $17.51 million.

🔥Greeks.live researcher Adam posted on social media that last week's macro data did not have much impact, and next Thursday is the Fed's interest rate meeting, lowering interest rates by 25 basis points once again becoming the main point of view.

🔥According to Ultrasound.money data, the net supply of ETH increased by 15,576 in the past 7 days, with an increase of approximately 18,267 ETH in supply and 2,691 ETH destroyed through the burning mechanism. The current growth rate of supply is 0.675% per year.

🔥 Analyst Yonsei_dent said that since August 2024, the trading platform USDT stablecoin Holdings has been rapidly increasing. Compared with the relatively stable situation of USDT Holdings from March to July this year, this change is worth following.

🔥 According to IntoTheBlock data, $300 million worth of Stablecoins flowed into the trading platform yesterday, indicating that investors may be entering the market during the downturn.

🔥SynFutures founder Rachel said that Decentralized Finance is not lacking in large-scale applications, but the digital economy is still waiting for large-scale development, and AI will accelerate this process.

🔥friend.tech posted on social media that it has no plans to shut down or stop the friend.tech Web application, and has ensured through code parameter settings that there will be no changes to the Smart Contracts deployed on Base in the future, thereby increasing or generating new fees.01928374656574839201

🔥Cryptocurrency research institution 10x Research has released its latest market analysis report, which points out that the price of BTC has rebounded as expected after a sharp drop last week, as indicated in the market update on Monday.

🔥Franz Bergmüller, CEO of encryption bank Amina, headquartered in Switzerland, said that the company is applying for a Virtual Asset Service Provider (VASP) license from the Austrian Financial Market Authority.

🔥TON Foundation Chairman Steve Yun tweeted his support for the Telegram cat-themed game platform Catizen. The tweet mentioned that Catizen has registered users of 36 million, with over 860,000 paying users. On the first day, it exceeded $300,000, and achieved self-operated revenue of over $26 million within six months, making it the number one project team in Steve's mind in Asia.

🔥Linea co-founder and rise director Marco Monaco announced that he has resigned as rise director and will no longer work at Linea in any capacity. Marco Monaco said he resigned from Consensys in mid-June and officially left the project in mid-July.

🔥Huma Finance, a company specializing in RWAtokenization, recently completed a $38 million financing round, including $10 million in equity investment and $28 million in revenue-type RWA. This round of financing was led by venture capital firm Distributed Global.

🔥According to IntoTheBlock data, BTC had a net outflow of $750 million from CEX in a single day this week, the largest net outflow since May this year. Analysis suggests that this indicates that BTC holders are increasing their holdings of BTC in large numbers.

🔥BSCN Headlines stated in an article on X platform that Soneium, a Sony Layer2 network, will collaborate with Sony Bank to launch a Japanese Yen stablecoin.

🔥K33 Research stated in its market report released on Tuesday that a reliable indicator predicts a significant Rebound in the coming weeks and months.

🔥Based on the blockchain global Settlement network, Velo Labs will incorporate BlackRock's tokenization short-term national treasury fund BUIDL into USDV, providing seamless trading and earning opportunities for over 1 million users in Southeast Asia.

🔥 On September 11th, according to data from mempool.space, the Fractal Bitcoin Mainnet Money Laundering has soared, with high priority reaching 101 Sat/byte. CAT protocol may be the main reason for the surge in transaction fees on the Fractal Mainnet. This protocol is a new type of Token protocol based on UTXO, with multiple features such as no need for an indexer, modularity, programmability, minting, and cross-chain interaction. The CAT Protocol can run on any BTC-compatible block on-chain that activates OP_CAT.

🔥Pendle officials have stated that vePENDLE holders have started voting for Corn LBTC. The LP incentive measures have been effective as of 8:00 on September 12th, Beijing time.

🔥According to official sources, Stacks has established the Asian Foundation, which will initially receive a funding of $15 million. Stacks Asia Foundation is committed to establishing mutually beneficial relationships in major markets such as Korea, Hong Kong, Singapore, Japan, Southeast Asia, and the UAE.

🔥Vitalik Buterin posted on social media that I take this very seriously. Starting next year, I plan to only mention L2 projects that have reached stage 1 or above in public forums (such as blogs, speeches, etc.), and may give truly interesting new projects a brief grace period.

🔥 According to the latest data from Mempool, the Mining Difficulty of Bitcoin has risen by 3.6%, reaching 9.27 million trillion, surpassing the previous record of 9.067 million trillion set at the end of July.

🔥 According to lookonchain monitoring, Pump.fun sold another 9,940 SOL (approximately $1.33 million) 19 hours ago. Pump.fun has sold a total of 274,313 SOL (approximately $42.93 million) with an average selling price of $156.5. Pump.fun's total revenue is 712,797 SOL (approximately $95.87 million).

Regulation&Macro Policy

🔥The US Congress held its first hearing on Decentralized Finance, and Republican and Democratic lawmakers showed clear disagreements on the issue. The two-and-a-half-hour hearing highlighted the serious divisions among US legislators on Decentralized Finance technology issues and reflected the challenges faced by regulatory agencies.

encryption market highlights

⭐️In the past week, the overall performance of the Cryptocurrency market has continued the recent trend of the overall market, lacking clear stimulus signals. Most Mainstream Tokens have been affected by market fluctuations and external factors, showing a certain degree of pump trend, but not a widespread surge. Currently, the overall performance of the encryption market is mainly characterized by small fluctuations. Market sentiment remains low, and the overall trend is weak. It is highly probable that small fluctuations will continue to dominate in the short term. It is expected that the current market situation will continue until a significant change occurs at some point next week.

⭐️ Although there are many mainstream currencies that experienced pump in the market this week, most of them fluctuated within 20% and performed well in terms of actual increase. BNX had the largest increase this week, with a seven-day increase of about 45%, and the current price is around $1.62. The highest price of this currency in the week was around $1.65, and it is currently in a relatively stable Fluctuation trend. It is expected to maintain a small price fluctuation in the following week.

(Data Source: Coinmarketcap)

BTC& Ethereum Weekly Performance

比特币 (BTC)

(Data Source: TradingView)

During this week, the overall price of BTC has fluctuated upward from below $55,000 at the end of last week, mainly influenced by the news from the US government. This is also one of the important reasons for the market's rebound this week. However, the overall pump of this currency is relatively limited, and for most of the week, it has mainly maintained a continuous fluctuation above $56,000. Currently, the PA of this currency is relatively stable, showing a continuous small fluctuation market. It is highly probable that this currency will continue this trend in the following week, with a low probability of a significant pump, but a high probability of a decline. $58,000 may become a relatively key price level in the short term. The high point of BTC's price this week is around $58,550, and the low point is around $53,600.

Analysis suggests that the price fluctuations of BTC this week are mainly influenced by external factors. With the re-raising of BTC mining difficulty and the expectation of a subsequent rebound, the mainstream market observers are optimistic about this currency. However, although BTC has rebounded to some extent, there has not been a particularly large-scale continuous pump trend, and small fluctuations are still the main trend. Although the actual price performance of BTC is relatively stable at present, the probability of another pump market in the short term is relatively high, and the probability of returning to above $60,000 is relatively high.

Ethereum (ETH)

(Data Source: TradingView)

The high point of ETH's price this week is around $2400, with overall poor performance, mainly characterized by continuous fluctuations. The price has basically remained in the range of $2250-2400, with a fluctuation of about 1.8% over the week. Currently, the currency is in a relatively obvious Fluctuation phase, with similar performance to the same period last week, maintaining continuous fluctuations near the $2350 price level.

Analysis believes that the performance of ETH price this week is not good, affected by the outflow of funds in ETF and the general bearish market sentiment, which makes the price of the currency lack pump power and basically maintain a fluctuation state. In the short term, the fluctuation range of the currency price will mostly continue to be below $2500 and continue to fluctuate, with weak pump performance.

Web3 Project Trends

This week, the total market capitalization of seven types of projects showed mixed performance, and the overall market was obviously sideways. Although the rises and falls of various tracks were different, the current market trend is still in a continuous shock cycle. It is expected that various sectors will usher in a new round of market changes during the weekend.

Author: Icing This article only represents the author's views and does not constitute any trading recommendations. This article is original content, and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.