SocialFi tokens rose 3.84% - GFT, BBL, and DESO showed notable gains.

Hot projects + Market overview

I. Mainstream exchange news

• Bybit has ceased providing services in France.
• Coinbase has reported a total revenue of $1.45 billion in Q2, a decrease of 11% from the previous quarter.
• Coinbase International will list perpetual futures contracts for cat in a dogs world (MEW), Memecoin (MEME), and Jasmycoin (JASMY).
• Crypto.com became the largest USD-backed spot cryptocurrency exchange by trading volume in July.
• OKX has begun pre-trading for the HMSTR/USDT perpetual contract.
• OKX Ventures and the Aptos Foundation have launched a $10 million fund.

II. Mainstream projects and trending events

• Base plans to launch an on-chain identity tool similar to ENS called Basenames in the coming weeks.
• Fantom has rebranded to Sonic Labs and plans to launch a new EVM chain, Sonic, by the end of 2024.
• MicroStrategy has reported a net loss of $102.6 million in Q2 and plans to raise $2 billion to buy more Bitcoin.
• Web3 investor and market maker DWF Labs is developing a CeDeFi synthetic stablecoin.
• Notcoin is collaborating with Lost Dogs and Getgems to launch a story-driven Web3 game.

III. Funding news

• Crypto lending company Morpho has raised $50 million in a strategic funding round led by Ribbit Capital.
• Governance experiment MetaDAO in the Solana ecosystem has raised approximately $2.2 million in funding led by Paradigm.
• Reward trading protocol Pichi Finance has completed a $2.5 million seed funding round.
• Binance Labs has invested an undisclosed amount in Particle Network, a Layer 1 solution.
• Rage Trade, a perpetual contract aggregator, raised $6 million in just 15 minutes during its public token sale.

IV. Regulatory news

• Layer 1 blockchain Venom Foundation has announced an agreement with the Philippine government to digitize approximately 10 billion traceable documents, including invoices, receipts, and special bank receipts, using Venom's blockchain technology.
• Korean crypto asset service providers like Upbit, Bithumb, and Coinone will need to pay regulatory fees based on their revenue under new South Korean draft regulation. The total fees are expected to amount to approximately 300 million KRW (about $220,000).

V. Popular projects 

Market overview

BTC reached a low of $62,302, slightly above the lower end of the correction target.

The key focus is whether BTC can break and stay above $65,264. Failure to do so could result in a decline toward the $58,000-$62,000 range.

BTC Spot ETF Updates - August 1

Overall Data:

Total Net Inflows: $17.74 billion

Daily Net Inflows: $50.64 million

Single-Day Turnover: $2.91 billion

Proportion of BTC’s Market Value: 4.54%

Breakdown by ETF:

GBTC:

Net Asset Value: $15.22 billion

Daily Net Outflows: $71.33 million

Cumulative Net Outflows: $19.01 billion

Single-Day Turnover: $347 million

FBTC:

Net Asset Value: $11.37 billion

Daily Net Outflows: $4.84 million

Cumulative Net Inflows: $9.9 billion

Single-Day Turnover: $529 million

IBIT:

Net Asset Value: $21.7 billion

Daily Net Outflows: $25.9 million

Cumulative Net Inflows: $20.05 billion

Single-Day Turnover: $1.34 billion

ETH Spot ETF Updates - August 1

Overall Data:

Total Net Outflows: $546 million

Daily Net Outflows: $62.9 million

Single-Day Turnover: $331 million

Proportion of ETH’s Market Value: 2.27%

Breakdown by ETF:

ETHE:

Daily Net Outflows: $77.95 million

Cumulative Net Outflows: $2.06 billion

Single-Day Turnover: $140 million

Net Asset Value: $6.27 billion

ETHW:

Daily Net Inflows: $3.35 million

Cumulative Net Inflows: $287 million

Single-Day Turnover: $10.18 million

Net Asset Value: $264 million

FETH:

Daily Net Inflows: $11.7 million

Cumulative Net Inflows: $291 million

Single-Day Turnover: $21.41 million

Net Asset Value: $276 million

FWOG is up 76%

The price of FWOG, a frog-themed memecoin created by meme artist @Groowut, has surged 76% in the last 24 hours. Known for its high-quality artwork, FWOG has shown strong wealth effects on-chain. 

Despite a recent sell-off by the top three holders causing a price correction, the community's overall consensus remains strong, with the price reaching new highs recently. 

FWOG has 7,950 holding addresses and a 24-hour trading volume of $38.23 million.

AURA is up 55%

AURA, a cat-themed memecoin on the Solana chain, has surged 55% in the last 24 hours.

The project has gained popularity on TikTok, with related videos garnering over 250 million views. The main character is a cat with an "out-of-body" experience. 

Since its launch on May 30, AURA has increased over 70 times in value. AURA has on-chain liquidity of $1.93 million and a market cap of $55.9 million.

SCF is up 38%

Smoking Chicken Fish (SCF), a memecoin  featuring a character that is a smoking salmon stuffed inside a chicken, has surged 38% in the last 24 hours. 

The project presents a visually striking and absurd combination, and lists "the 10 most important things in investing" on its official website to engage viewers. 

Since its launch on July 21, SCF has increased by 154 times in value. SCF has a market cap of $102 million, on-chain liquidity of $2.21 million, and a 24-hour trading volume of $33.49 million.

On-chain Daily

1. USPEPE: USPEPE is a memecoin on the Ethereum chain, characterized by an American-themed Pepe. Its contract address starts with 0x704, symbolizing the US Independence Day.

Current Price: $0.000000082

Historical High: $0.000000119

24-Hour Change: +121%

Current Market Value: $3.4M

Official Twitter: https://x.com/USPepeERC20

2. Lexi: Lexi is an AI-driven WhatsApp bot designed to simplify blockchain interactions, providing real-time crypto market insights, security audits, trading, wallet tracking, and more.

Current Price: $0.036

Historical High: $0.04

24-Hour Change: +30%

Current Market Value: $14.5M

Official Twitter: https://x.com/LexiAIETH

3. MONOPOLY: MONOPOLY is a memecoin on the Ethereum chain, inspired by the classic board game Monopoly. It is unique for successfully leveraging Web 2 social media through short animated clips, with 2.51 million followers on Instagram and 1.8 million on TikTok.

Current Price: $0.0344

Historical High: $0.0478

24-Hour Change: +82%

Current Market Value: $3.4M

Official Twitter: https://x.com/metamonopoly

4. FWOG: FWOG is a frog-themed memecoin on the Solana chain, featuring a cute long-legged frog. It is a community-driven version of the original memecoin $flog, which was rugged, and has garnered support from notable Milady holders and even caught the interest of Cole, one of the original creators of Pudgy Penguins.

Current Price: $0.0376

Historical High: $0.045

24-Hour Change: +53%

Current Market Value: $36M

Official Twitter: https://x.com/solfwog

5. SCF: SCF is a memecoin on the Solana chain, featuring a character that is a smoking salmon stuffed inside a chicken, with a cult-like (Cult) aesthetic.

Current Price: $0.1

Historical High: $0.121

24-Hour Change: +28%

Current Market Value: $100M

Official Twitter: https://x.com/churchofthescf

6. SC: SC is a memecoin on the Solana chain and an early token from the memecoin issuance platform Pump.fun. It features a cat dressed in an adorable shark costume. The market cap once reached $384M but later declined to a low of $18M. Recently, there has been a sudden increase in trading volume and price, making it worth watching.

Current Price: $0.026

Historical High: $0.39

24-Hour Change: +33%

Current Market Value: $25.8M

Official Twitter: https://x.com/SharkCatSolana

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee is 4 satoshis/byte. Regardless of price movements, transaction fees have remained low for three weeks.

Today's Popular Projects:

1. BILLION•DOLLAR•CAT

Status: Fully minted

Market Value: $20.7M

24-Hour Trading Volume: $196,395

24-Hour Change: +30%

Holding Addresses: 7,719

2. BRIDGE•OP•CAT•RUNES

Status: Fully minted

Market Value: $364K

24-Hour Trading Volume: $2,554

24-Hour Change: +19%

Holding Addresses: 1,036

3. DECENTRALIZED

Status: Fully minted

Market Value: $10.5M

24-Hour Trading Volume: $8,485

24-Hour Change: +9%

Holding Addresses: 41,503

Top Rune Projects Tracking:

DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

Current Price: 4.8 Sats

24-Hour Change: +0.5%

Current Market Value: 4,820 BTC

BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

Current Price: 4.8 Sats

24-Hour Change: -9.4%

Current Market Value: 1,010 BTC

RSIC•GENESIS•RUNE: Rune #8, from RSIC inscription mining project

Current Price: 4.02 Sats

24-Hour Change: +1.1%

Current Market Value: 844 BTC

Performances of Today's Top Three Tracks

CeFi: An overall daily increase of 0.35%

1. LEO: The Bitfinex exchange token allows holders to pay trading fees with LEO, offering fee discounts and participation in voting.

   - 24-Hour Change: +3.45%

   - Current Price: $5.877

   - Market Cap: $5.44 billion

   - 24-Hour Trading Volume: $2.07 million

2. NGC: NAGA is a publicly listed and EU-regulated German fintech company, with NGC being its issued cryptocurrency.

   - 24-Hour Change: +3.13%

   - Current Price: $0.02437

   - Market Cap: $1.9 million

   - 24-Hour Trading Volume: $87,000

3. TKO: The platform token of Indonesia's Tokocrypto exchange, which has been acquired by Binance.

   - 24-Hour Change: +1.6%

   - Current Price: $0.3117

   - Market Cap: $23.38 million

   - 24-Hour Trading Volume: $3.22 million

RWA: An overall daily increase of 1.68%

1. VSYS: V.SYSTEMS is a blockchain infrastructure provider focusing on databases and cloud services, utilizing the SPoS consensus algorithm for selecting supernodes.

   - 24-Hour Change: +18.97%

   - Current Price: $0.00155

   - Market Cap: $4.71 million

   - 24-Hour Trading Volume: $783,000

2. SMT: Swarm Markets is the world's first licensed DeFi platform, a unified exchange for securities and cryptocurrencies regulated by BaFin. It enables trading and staking of tokens based on various real-world assets.

   - 24-Hour Change: +5.73%

   - Current Price: $0.00133

   - Market Cap: $106,000

   - 24-Hour Trading Volume: $325,000

3. OM: MANTRA aims to fill a gap in the Cosmos ecosystem by creating a blockchain focused on compliance with real-world and tokenized asset regulations, attracting both institutional and retail users and developers.

   - 24-Hour Change: +5.42%

   - Current Price: $1.2095

   - Market Cap: $1.01 billion

   - 24-Hour Trading Volume: $39.56 million

SocialFi: An overall daily increase of 3.84%

1. GFT: Gifto, launched in 2017, is a platform for content monetization.

   - 24-Hour Change: +14.37%

   - Current Price: $0.0273

   - Market Cap: $27.3 million

   - 24-Hour Trading Volume: $17.3 million

2. BBL: Beoble is a Web3 messaging and social platform facilitating secure wallet-to-wallet communication. It offers tools like APIs and SDKs to help developers integrate messaging and social profiles into their DApps, supporting multi-chain integration.

   - 24-Hour Change: +5.98%

   - Current Price: $0.0179

   - Market Cap: $3.83 million

   - 24-Hour Trading Volume: $5.89 million

3. DESO: Decentralized Social is a Layer 1 blockchain designed to support various decentralized social media applications. DESO can be used to purchase social tokens and NFTs, and to create profiles and posts for decentralized social applications.

   - 24-Hour Change: +3.88%

   - Current Price: $8.04

   - Market Cap: $84.68 million

   - 24-Hour Trading Volume: $2.19 million

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