August 7th

1. Market Trends

Today, the market performed actively, with various asset classes showing an upward trend. The price of Bitcoin ($BTC ) steadily rose, while many altcoins also generally followed suit, resulting in an overall increase in market enthusiasm. In the stock market, U.S. stocks continued their upward trend, while the A-share market strongly initiated a bull market, bringing positive signals to investors.

2. Market Highlights

New Coin Prove Performance: The new coin $PROVE experienced a spike in its price, successfully listing on the well-known South Korean exchange Upbit, attracting widespread market attention, and its subsequent trend is worth continuous observation.

Small Coin Memefi Dynamics: Small coin Memefi performed astonishingly, with its price surging several times in a short period. However, Binance (BN) delisted the contract trading of this coin. Meanwhile, the flow of speculative funds shifted from Myx to Memefi, which has had a certain impact on the market landscape.

PUMP Sector Situation: The PUMP sector rebounded from the bottom, with the leading coin TROLL continuously rising for three months, successfully igniting FOMO (Fear of Missing Out) in the market. Driven by this, PUMP also rose for a week, with its market cap recovering to $3.4 billion, becoming one of the market focal points.

Orca Governance Proposal: The Orca council released a governance proposal, planning to use up to 55,000 SOL for buyback operations. Although the $ORCA coin performed strongly, it did not experience a significant rise due to this positive news, with the market reacting relatively rationally to this proposal.