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Ethereum Layer 2 Scroll is launching its Alpha Testnet on Goerli. zk-EVM focused Ethereum scaling project Scroll has raised $30M in April last year in a Series A round led by Polychain Capital.
#ETH
#Layer2
#zkevm
#testnet
#scroll
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$NOT rose 0.51% to $0.00204 in the past 24h, underperforming the broader crypto market (+2.16%). The muted gain comes amid mixed technical signals and sector-specific headwinds. Market-wide tailwinds – Crypto’s $3.77T cap rose 2.16%, providing limited lift Technical rebound attempt – Buyers defended $0.00188 support after a 7% intraday drop Sector skepticism – Social-Fi tokens face distrust as Tapzi challenges TON’s gaming dominance Deep Dive @The Notcoin Official #Notcoin 1. Market Context Overview: The global crypto market added $79.6B (+2.16%) in 24h, with Bitcoin dominance rising to 60.97%. Notcoin’s 0.51% gain lagged behind this recovery, suggesting coin-specific limitations. What this means: While macroeconomic factors like ETF flows ($148.05B BTC AUM) and derivatives activity ($737.57B OI) supported crypto broadly, Notcoin’s high circulating supply (97% of 102.46B NOT) and Social-Fi sector headwinds capped upside. 2. Technical Rejection at Key Level (Bearish Impact) NOT faced repeated rejection at $0.002135 resistance (July swing high) before stabilizing at $0.00204. The 24h volume/MC ratio of 14.2% signals elevated churn. What this means: RSI 46.95 shows neutral momentum, but MACD histogram (-0.0000094) confirms bearish pressure Immediate support at $0.00188 aligns with July 5 low – a break could trigger 6.4% drop to $0.00175 78.6% Fibonacci retracement at $0.0019158 marks next potential bounce zone 3. Competitive Pressures in Social-Fi (Bearish Impact) Tapzi’s presale launch on August 6 threatens Notcoin’s position in Telegram gaming, offering skill-based PvP mechanics versus NOT’s tap-to-earn model. What this means: 4.7M TAPZI tokens sold at $0.0035 signal investor interest in alternatives NOT’s price struggles mirror Hamster Kombat’s 89% crash since 2024, reflecting sector-wide doubts about sustainable tokenomics TON blockchain’s $400M ecosystem fund (The Open Platform) remains a bullish counterweight.
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$TREE fell 4.27% in the past 24h, extending a 23.5% weekly decline. Three key factors drove the drop: Airdrop sell pressure – Early recipients dumped tokens after July 29 listings Negative funding rates – Derivatives markets turned bearish post-TVL milestone Weak altcoin rotation – Bitcoin dominance rose to 60.97%, starving alts of capital Deep Dive @Treehouse Official #Treehouse 1. Airdrop Sell-Offs (Bearish Impact) TREE launched on July 29 with 15.6% (156M tokens) circulating immediately, including 12.5M airdropped to Binance users. Historical data shows 42% of new tokens drop within 24h of exchange debuts due to profit-taking. What this means: The unlocked airdrop tokens created instant sell pressure. With 1B total supply, traders anticipate dilution from future unlocks (82.5% of tokens remain vested). High turnover (volume/market cap = 142%) confirms volatile exit liquidity. What to watch: August 6 cliff unlocks for core team (12.5%) and strategic investors (17.5%). 2. Derivatives Sentiment Shift TREE spiked 30% on August 1 after hitting $500M TVL but reversed as funding rates turned negative (-0.0017924% average for alts vs BTC). What this means: The TVL milestone initially attracted buyers, but perpetual traders began paying shorts to bet on further declines. This mirrors patterns seen in new DeFi tokens where hype fades post-metrics. 3. Altcoin Weakness Bitcoin dominance rose to 60.97% (from 60.64% yesterday), while the Altcoin Season Index fell 16.67% to 35. What this means: Capital rotated out of riskier assets like TREE into BTC amid neutral market sentiment (Fear & Greed Index: 52/100). TREE’s -61% monthly drop underperforms the crypto market’s +13.14% 30d gain. TREE faces triple headwinds: post-airdrop dilution, derivatives skepticism, and macro rotation into Bitcoin. While the protocol’s $500M TVL shows product-market fit, token economics and market structure currently favor sellers. Key watch: Can staking APRs (50-75% in Pre-Deposit Vaults) offset sell pressure if ETH yields rebound?
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$BB is 7.12% in the past 24h, underperforming the broader crypto market (+1.43%). The muted gains reflect mixed sentiment after recent bullish catalysts. Key drivers: Franklin Templeton RWA integration – BB Prime added tokenized U.S. Treasuries as collateral/settlement, boosting utility (5 Aug) Buyback program launch – Protocol began repurchasing BB using revenue, signaling confidence in cash flows Technical rebound – Price stabilized near $0.10 after testing July lows Deep Dive @BounceBit #BounceBitPrime 1. Institutional RWA Adoption (Bullish Impact) Overview: BounceBit integrated Franklin Templeton’s $692M tokenized U.S. Treasury fund (BENJI) into BB Prime on August 5. The partnership lets users earn 4.5% baseline yield while deploying the asset in crypto strategies. What this means: Combines regulated real-world assets (RWAs) with DeFi yield opportunities, addressing institutional demand for compliant yield Positions BB as infrastructure for hybrid TradFi/DeFi strategies – a $7B tokenized Treasury market tailwind First-mover advantage: Follows BB’s prior BlackRock BUIDL integration, creating network effects What to watch: BB Prime’s total value locked (TVL), currently ~$550M (BounceBit) 2. Buyback Program Activation. Overview: BounceBit Foundation began open-market BB buybacks on August 5, using protocol revenue ($10M YTD). Initial purchases totaled 5M BB (~$510K). What this means: Reduces sell pressure: 30% of BB supply is staked, buybacks remove additional liquidity Execution risk: Program relies on continued revenue growth from BB Prime adoption Mixed signal: Launch during -25% 90d price slump suggests defensive posture 3. Technical Consolidation. Overview: BB stabilized near $0.10 after hitting $0.074 (July lows). RSI(14) at 45.53 shows neutral momentum, with $0.114 Fibonacci level acting as resistance. What this means: Short-term traders may see $0.10 as psychological support Low volume (-3.74% 24h) suggests lack of conviction in rebound MACD histogram (-0.00218) still signals bearish momentum dominance
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$PROVE rose 22.82% over the last 24h, outperforming the broader crypto market (+1.43%). The surge follows its mainnet launch, major exchange listings, and Binance airdrop incentives. Mainnet Launch & ZK Hype – Network went live with $4B+ secured value Exchange Listings – Binance, Coinbase, Upbit, and Bitget listings boosted liquidity Airdrop Dynamics – Post-distribution rebound after initial profit-taking Deep Dive @Succinct #SuccinctLabs 1. Mainnet Launch & ZK Adoption (Bullish Impact) Overview: Succinct’s decentralized prover network launched on August 5, enabling zero-knowledge (ZK) proof generation for Ethereum, Polygon, and other chains. The network secured $4B+ across 35 protocols pre-launch. What this means: The mainnet positions PROVE as infrastructure for ZK-powered blockchains – a sector projected to grow with Ethereum’s scaling roadmap. Initial support for 1,700 programs and backing from Paradigm ($55M Series A) validated its technical potential. What to watch: On-chain proof generation metrics and partnerships with major L2s like Mantle. 2. Exchange Listing Surge (Bullish Impact) Overview: PROVE debuted on Binance, Coinbase, Upbit, and Bitget on August 5–6. Binance alone added five trading pairs, while Bitget offered 66,666 PROVE in rewards via a CandyBomb campaign. What this means: Multi-exchange exposure triggered a 19513% 24h volume spike to $1.46B. Listings reduced friction for retail and institutional buyers, while limited initial circulating supply (195M of 1B) amplified price moves. 3. Airdrop Rebound Cycle (Mixed Impact) Overview: Binance distributed 15M PROVE (1.5% of supply) to BNB stakers on August 5. Price initially dropped 55% as recipients sold, but rallied 150% on August 6 to $1.52. What this means: The V-shaped recovery suggests strong organic demand after airdrop sell pressure subsided. Similar patterns were observed with past Binance-launched tokens like TREE.
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