Market Dynamics:
BTC leads the decline, altcoins are under pressure with widespread drops. The US stock market is also moving downward, and newly launched crypto-equity assets are failing to reverse the trend, showing further declines. Due to the quarterly tax window for US stocks and the US Treasury's bond issuance, the market may face significant liquidity challenges in mid-September.
Market Highlights:
- In the ETH ecosystem, the new coin Prove, based on zero-knowledge proof concepts, has shown strong performance with significant gains.
- In the DeSci sector, the token Bio continues to rise, with its staking mechanism supporting launch platform functionality, becoming a market focal point.
- Zora in the SocialFi track has reached a historic high price, backed by the support of the Coinbase Foundation.
- In the cross-chain protocol sector, both Zro and Stg have seen increases, with the prior announcement of Zro acquiring Stg boosting market sentiment.
