Market trend
The cryptocurrency market has recently performed strongly, with the total market cap exceeding $4 trillion. Ethereum (ETH) has stood out, breaking through $4600, reaching a three-year high, and surpassing Netflix in market cap. Solana (SOL) has also broken through $200 due to ecosystem development and institutional support. The market's expectations for the Federal Reserve's rate cuts in September have risen (probability reaching 91.8%), driving a broad rally in risk assets. However, caution is warranted regarding high leverage risks, as the open interest in altcoin contracts has reached historical highs, increasing market fragility. Bitcoin's market share has fallen below 60%, with funds potentially shifting to altcoins.
Mainstream coins
$BTC
Recently saw exchange inventory drop to a six-year low, indicating strong reluctance among holders to sell. Institutions like BlackRock continue to buy, with strong ETF fund inflows, but caution is warranted regarding miner selling pressure. The key technical support level is at 112K; breaking through 123K will open new upward space. In the long term, institutional accumulation and macro hedging demand support BTC's value.
$ETH
Strongly broke through $4600, with spot ETF inflows exceeding $1 billion in a single day, setting a record with strong institutional buying. Technical indicators are bullish, with a short-term target at the previous high of $4868, but caution is needed regarding fund diversion by competing products like SOL. The fundamentals are supported by the ETF and whale accumulation, providing a buying opportunity on pullbacks.
$SOL
Recently broke through $200, driven by the RWA collaboration with CCB International and active ecosystem developments, looking bullish to $250 in the short term. However, caution is needed regarding potential sell-offs by project parties (e.g., Pumpfun selling 86,000 SOL) that could lead to pullback risks. In the medium to long term, institutional adoption and ETF expectations remain key catalysts.
$BNB
Recently driven by OKB, it has risen by 2.5%, but caution is needed for short-term pullbacks. In the long term, BNB, as the leading platform coin, shows strong performance with an 80% market share and a 17.46% increase this year. If it mimics OKB's burning mechanism or pushes for new empowerment, it may challenge $1000. Pay attention to the interconnection opportunities in the platform coin sector.
Popular coins
Recently exhibited strong performance, breaking through the key resistance level of 21.85, initiating a weekly level rise. As the leading oracle, it benefits from the development of RWA and DeFi, with solid fundamentals. The income buyback mechanism enhances deflationary expectations; if it stabilizes above $30, it may challenge the previous high of $52. Short-term focus on the $30 breakout, with clear bullish logic in the medium to long term.
$HYPE
Recently driven by trader positions and project integrations, it looks bullish in the short term. However, caution is needed regarding high leverage risks, as the major player has closed positions with profits of 33.83 million. Catapult's on-chain transparency mechanism and token economics may enhance its fundamentals, but caution is warranted amid market volatility.
After recently breaking through $3.3, it will accelerate towards $4, with technical indicators showing little resistance at historical peak breakouts. On-chain data has detected large transfers to Coinbase, possibly indicating institutional accumulation. However, attention should be paid to the risk of capital rotation with $LINK.
Recently showed strong performance, with a 24-hour increase of 3918% and a market cap of $8 million. The latest tweet suggests it may soon see significant increases, with market sentiment running high. As one of the tokens related to Matt Furie, $PEPE has unique cultural attributes and still has potential in the long term. Short-term trading opportunities are worth noting, but volatility risks must be considered.
$SUI
Recently showed strong performance, targeting $5-10 after breaking through $3.9. Grayscale launched a SUI ecosystem trust, increasing institutional interest. SUI Pay's launch promotes payment applications, indicating positive fundamentals.
$ENA
Recently increased holdings by Arthur Hayes, showing a bullish sentiment towards the ETH ecosystem. USDe is growing rapidly and may capture a share of the USDC market in the long term. Combined with expectations of the Federal Reserve's interest rate cuts and the development of the ETH ecosystem, $ENA has upward potential, but market volatility risks must be monitored.
$IP
Recently attracted attention due to the $360 million reserve plan from Nasdaq-listed company CASK and $220 million financing from institutions like a16z. Short-term price volatility is significant (down 10% in 24H), but in the long term, the repurchase plan and institutional entry may support value. Liquidity risks must be monitored; if it stabilizes above key support levels, it may present buying opportunities.
The above information is automatically generated by @xhunt_ai and does not constitute investment advice.