The rebound strength of BTC is relatively weak, but ETH is quite strong, with the ratio returning above 0.032. Whether this strength can be sustained in the future completely depends on the off-exchange financing capabilities such as sbet and bmnr, as this round of ETH lacks any narrative, and retail investors have basically no enthusiasm to participate, relying solely on off-exchange financing to drive the market;

Bitcoin has not stabilized on the 4-hour level, and there is still a possibility of further declines to test support. Contract users need to be highly aware of the risks, but the decline will be very short-lived, and after this week, we will see signs of a market restart. The market is eager to speculate on the expectations of interest rate cuts in September, so it is very suitable to lay out some quality leading altcoins from now on. This is the basic logic of buying more as prices drop that I mentioned before;

Here are today's market highlights:

1. Towns will go live on Binance tonight at 22:30. Towns Protocol is an open-source decentralized instant messaging infrastructure. The total supply of Towns is 10 billion, with 10% allocated for airdrops, mainly backed by institutions like a16z and coinbase ventures;

2. Prove will launch on Binance at 1 AM on August 6. Prove is a decentralized proof network (Prover Network) developed by Succinct Labs, focusing on generating zero-knowledge proofs (ZK Proofs). #Prove has a total supply of 1 billion, with an initial circulation of 19.5%, backed by institutions like Paradigm and Robot Ventures;

3. Verb Technology Co. (NASDAQ: VERB) announced a private placement with Kingsway Capital for approximately $558 million to establish the first publicly traded TON financial strategy company;

PS: After the announcement, the price of Ton first rose and then fell.

4. PUMPFUN #pump is testing the "reward" feature on its website, and the trading volume incentive program is about to go live. $pump has shown signs of bottoming out in recent days, but the future trend will depend on the team's strategy;

5. COINBASE new listing: Today's roadmap adds asset: Mamo (MAMO);

6. BONK announced the destruction of 300 billion BONK, worth about $8.05 million;

7. CEX altcoins generally follow the market trend, with a few showing relatively strong performance, such as ENA #magic #red, and some new coins on Binance also performed well, such as #spk #kernel #newt;

8. The hottest on-chain project these days is Troll, with an FDV close to $100 million yesterday. In addition, #Lizard #chillhouse #gor #aura #tokabu are also very popular among foreign investors; #币安HODLer空投PROVE #币安HODLer空投TOWNS