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🔹 Featured Updates from Binance Square
Record volume in futures: In July, Binance reached a trading volume of $2.55 trillion in futures contracts, the highest figure in six months, representing over 50% of global derivatives volumes. Bitcoin's open interest was around $79 billion.
Global market data: The total market capitalization of the crypto market hovers around $3.72 trillion, with BTC trading around $114,078, marking a 0.43% decline over the last 24 hours; some tokens like PROVE, TOWNS, and OG lead increases, with rises of up to 280%.
Technical analysis of Ethereum (ETH): ETH is positioned near $3,671. A breakout above $3,720 could open a rise of up to 10% towards $4,092; key support is located between $3,512 and $3,400.
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🔹 Listings, Airdrops, and Campaigns
Listing of Fireverse (FIR): Binance Alpha began trading FIR on August 6 at 11:00 UTC and included an airdrop for eligible users.
PROVE promotion on CreatorPad: Binance Square launched a campaign to win part of $100,000 in PROVE tokens by completing tasks between August 6 and November 6 (UTC).
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🔹 Relevant Trends
Dominance in USDT flows and the role of TRON-Binance: Binance processes approximately 67% of USDT transfers issued by TRON, strengthening its role in institutional stablecoin infrastructure.
Temporary MEMEFI rally: MEMEFI rose nearly 200% after Binance announced the removal of its perpetual futures contracts, causing a short squeeze. Most of the movement was driven by forced liquidations and not by renewed market optimism.
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🔹 Other ecosystem events
Massive institutional purchase of BNB: The US company CEA Industries will acquire $500 million in BNB as part of its treasury reserve, which could reach $750 million if all warrants are exercised.
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✅ Executive Summary
Theme Most relevant
Binance Futures Record traffic in July, with dominance in the derivatives market
Featured tokens Launch of FIR, increases in PROVE, TOWNS, OG
ETH Prediction Possible technical boost if it surpasses $3,720
TRON‑BNB Dominance Binance strengthens its power in USDT transfers via TRON
MEMEFI Speculative surge due to futures delisting
BNB Purchase Significant institutional investment by vaping company