🪙 For the first time in history, #Solana has surpassed #Ethereum in trading volume on #DEX

According to #Defillama data for July, the trading volume of #SOL on decentralized exchanges amounted to $55.8 billion, compared to $53.8 billion for #ETH.

📉 However, despite these positive indicators for Solana, the coin has gone down amidst new testimonies from an #FTX whistleblower. The testimonies reveal that SBF’s conglomerate currently holds about 8% of SOL in its secret wallets, which amounts to approximately $6 billion.

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#CryptoNews

🔽 This morning, #Bitcoin tested the $49,000 level, while #Ethereum broke through $2,300

The largest sell-off of the year caused liquidations exceeding $1 billion in a single day. The market is reacting to rising unemployment in the US, recession fears, and geopolitical tensions in the Middle East. Additionally, the situation was influenced by the largest crash in the Japanese stock market in the past 37 years.

📉 Currently, investors are anxiously awaiting the opening of the US markets, so the current crash may be just the beginning.

Do you believe in crypto and buy during the dip, or are you withdrawing assets in anticipation of an even greater decline?

#CryptoNews

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🧭 The Fear and Greed Index has plummeted to 17

Despite the rise in prices after yesterday's drop, the Fear and Greed Index is in the zone of extreme fear. The last time it was at this level was in the summer of 2022, when the price of #BTC was $20,000.

🪙 Currently, #Bitcoin is holding support above the $55,000 level, and the #Ethereum #ETF has seen a capital inflow of $48 million.

📈 An additional positive factor for the market is that fears of a recession in the US are diminishing amid the growth of the Business Activity Index in the service sector.

Did you manage to buy the dip?

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#CryptoNews

🚀 #Ethereum has surpassed #Bitcoin

At the end of yesterday's trading session, the #Bitcoin-#ETF recorded an outflow of $148 million, while the #ETH-ETF, on the contrary, attracted about $98 million.

Meanwhile, the Fear and Greed Index has rebounded from yesterday's extreme levels and is now at 29, which is characterized as regular fear.

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#CryptoNews

☠️ The market is facing a "Death Cross"

The decline in #Bitcoin and #Ethereum, triggered by the stock market crash, has led to the formation of a worrisome technical analysis pattern known as the "death cross."

🕯 Usually, the "death cross" forms when the 50-day moving average crosses below the 200-day moving average. Currently, a similar pattern can be observed on the #ETH and #BTC charts, signaling a potential significant drop in asset values.

📉 If this scenario plays out, #Bitcoin may fall again to levels around $50,000, and #Ethereum might decrease to the liquidity range around $2,000 per coin.

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#Analytics

this is not a trading recommendation

🎢 The market is reacting with growth following the news about unemployment claims

The number of initial unemployment claims in the U.S. was 233,000, which is lower than the previous figure of 249,000 and the forecasted expectation of 240,000.

🪙 #Bitcoin responded by rising to $58,000, and #Ethereum briefly reached $2,500 per coin.

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#CryptoNews

🔷 After a hard fork, two different blockchains are created, and users must choose which one to use. The most well-known example of a hard fork is Ethereum, which split into two cryptocurrencies: #Ethereum and #EthereumClassic.

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#Glossary

🔷 It accounts for nearly 30% of the total circulating supply of #Ethereum.

The staked coins participate in the process of validating transactions and creating new blocks within the Proof of Stake (PoS) model. In exchange for staking, users receive rewards in the form of additional #ETH.

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#NumberOfTheDay

🌍 Weekly news #CryptoDigest:

🪙 BTC.D (Bitcoin Dominance over altcoins) — 57.35%
🧭 Fear and Greed Index — 25

🇺🇸 August 15 15:30 USD — Number of initial jobless claims. Forecast — 235k, previous value — 233k

📌 #Matrixport believes that a Bitcoin rally is inevitable after the release of U.S. inflation data

🕯 #Bitcoin is reducing volatility — this year, there have only been 25 days with significant price movement

🔷 Gas fees on the #Ethereum network are at an annual low

🪙 A critical vulnerability in the #Solana network has been fixed

🪙 #Ripple has begun testing its stablecoin — Ripple USD (#RLUSD)

🪙 #BTC reserves on exchanges have reached a 5-year low

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🔷 #Ethereum blockchain is the leading sector of the crypto market

According to the latest data from #Coinmarketcap, since the beginning of the year, Ethereum-based tokens have remained leaders in profitability, accounting for 17% of the entire market, with a daily trading volume exceeding $29 billion.

Currently, #L2 Ethereum activity has reached its all-time high 🚀

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#CryptoNews

🪙 #TON launches wrapped #Bitcoin (#tgBTC) on its network. But what is it?

Wrapped Bitcoin is a token pegged to the value of real Bitcoin and issued on a third-party blockchain. For example, there is already #WBTC based on #Ethereum. Each such token is backed by real Bitcoin, and you can always exchange one wrapped Bitcoin for one #BTC and vice versa.

🍘 The difference between wrapped Bitcoins and regular project tokens lies in the increased liquidity within the ecosystems that launch such coins. Additionally, wrapped BTC allows original Bitcoin holders to participate in other blockchain ecosystems while preserving the value of their BTC.

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#CryptoNews

#Analytics #SOL

🪙 Currently, experts estimate the potential of #Solana to be in the range of $300 to $1000 per coin. However, on-chain data points to a more likely scenario in the near future — a return to the $190 level.

Among the most significant reasons for SOL's growth are applications for the launch of #Solana-#ETF, the continued interest in meme coins within this ecosystem, the growing competition with #Ethereum in #DEX, and the active efforts of the Solana team to improve the project.

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this is not a trading recommendation

#Analysis #ETH

🔷 #Ethereum is trading within a consolidation zone of 2392 - 2595

For trading, it's advisable to wait for liquidity to be taken from long or short positions.

🔼 In the case of a LONG, expect a false breakout below the 2392 level, followed by a return above it.

🔽 For a SHORT scenario, it's similar: a false breakout above the 2595 level and a return below it.

this is not financial advice

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Since the launch of spot #Ethereum-#ETFs, the average market depth for #ETH pairs has dropped to $14 million.

Now, it has become much easier for big players to manipulate the price 🕯

#FigureOfTheDay

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