• Market Surge and Altcoin Rally: The total crypto market capitalization reached $4.13 trillion, a 3.6% increase in the last 24 hours, driven by a robust altcoin rally. Bitcoin (BTC) rose to $122,000, while Ethereum (ETH) jumped to $4,324.60 (+0.88%), with a weekly gain of 20% fueling altcoin momentum.

• Ethereum Surpasses Major Assets: Ethereum's market capitalization reached $520 billion, surpassing Mastercard and ranking as the 22nd largest asset globally. Trading around $3,900–$4,324, ETH gained over 7% in 24 hours, outperforming Bitcoin, driven by institutional interest, Layer 2 adoption, and ETF inflows. Analysts target $4,200 as the next resistance, with potential to retest its all-time high of $4,878 if momentum holds.

• Altcoin Performance: Altcoins outperformed Bitcoin, with XRP (+13%), Solana (SOL), Cardano (ADA), and Stellar (XLM, +16%) leading the gains. Layer 2 tokens like Zora (+17.46%), ZRO (+8.42%), and Pendle (+6.81%) also saw strong upward movement, signaling a possible altcoin season as Bitcoin's dominance slows.

• Institutional Inflows and ETFs: Institutional crypto products attracted a record $11.2 billion in July, with Ethereum drawing $1.59 billion in a single week, its second-strongest weekly figure. Speculation around the approval of a spot Ethereum ETF in the U.S. by firms like BlackRock and Fidelity continues to fuel bullish sentiment, potentially unlocking trillions in capital.

• Regulatory Developments: The SEC's shift towards regulatory clarity, including exemptions and approvals for Bitcoin and Ethereum ETFs, supports participation in decentralized finance. The CFTC's “Crypto Sprint” initiative and the SEC's “Crypto Project” aim to clarify DeFi and derivatives regulations, increasing market confidence.

• Bitcoin Outlook: Bitcoin's consolidation below $120,000 shows low volatility, with institutional accumulation suggesting a possible lift to $140,000 if it breaks resistance. However, historical trends for August warn of potential 10% corrections, with $92,000 as a downside risk.

• Strength of the Solana Ecosystem: Solana remains near $200, with DeFi volume exceeding $1.4 trillion in July and a total value locked (TVL) of $10–14 billion. ETF applications from Grayscale and Invesco Galaxy boost optimism, with price targets of $220–$240 if momentum persists.

• Token Unlocks and Events: Over $2.5 billion in token unlocks for projects like SUI, Aptos, Avalanche, and Arbitrum could pressure prices due to increased supply. Key events include U.S. inflation data on August 12 and the Jackson Hole symposium, which may impact market sentiment.

• Market Sentiment: The Fear and Greed Index at 62 (Greed) reflects bullish sentiment, although macroeconomic uncertainties such as U.S. tariffs and Fed policy persist. The market's resilience amidst these factors points to strong underlying demand.

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