Crypto Assets Market Weekly Report

BTC and ETH Market Performance

This week, the overall Crypto Assets market has shown a volatile downward trend:

Bitcoin has shown a fluctuating downward trend this week, mainly influenced by two events: first, the arrest of a founder of a certain instant messaging software, and second, the market adjustment triggered by the financial report released by a certain chip giant. These events reflect the current weak purchasing power in the market and investors' concerns about future uncertainties.

Ethereum has followed Bitcoin this week, exhibiting a similar downward trend. The co-founder of Ethereum stated on social media that he does not support decentralized finance, which has sparked a backlash from ecological project parties and users. There is an increasing number of pessimistic voices in the market regarding Ethereum's future development, leading to a relatively weak performance this week.

Major Events

1. The founder of a certain instant messaging software was arrested and prosecuted by the French police, restricting his departure. This incident has had a negative impact on the related ecosystem, leading to a decline in market performance.

2. The co-founder of Ethereum publicly stated his opposition to decentralized finance, triggering widespread opposition in the industry. If Ethereum indeed abandons its support for decentralized finance in the future, it may lead to a large number of projects migrating to other public chains, weakening Ethereum's competitiveness.

3. A financial report released by a chip giant showed that the revenue for the second quarter exceeded expectations, but failed to bring surprises to the market, instead triggering a brief decline in the US stock and Crypto Assets markets.

Altcoin Market Overview

This week's market sentiment index has dropped to 38%, a significant decline from last week's 90%. After a quick rebound, profit-taking has caused market sentiment to shift from extreme greed to fear.

The Altcoin market is influenced by multiple factors, including the significant events mentioned above and the lack of notable market hotspots.

Overview of Public Chain TVL Growth

In the past week, the top 5 public chains by TVL increase ( do not include smaller public chains by TVL ):

1. Sei: Integrated privacy computing layer, clarifying security incidents, infrastructure developers announce integration.
2. Merlin: The Bitcoin ecosystem has once again become the focus of the market.
3. Aptos: Meme coin project is active.
4. Near: Major updates are underway, and the blockchain abstraction track is regaining attention.
5. Sui: On-chain Meme coin performs well, new project launched.

Token Gain Rankings

The top 5 tokens with the highest increase in the market over the past week( excluding tokens with very low trading volume and meme coins):

1. FET: The leader in the artificial intelligence track, fluctuating under the influence of a certain chip giant's financial report.
2. PENDLE: Launching new assets to expand business scope.
3. ZRO: Affected by renewed attention to cross-chain technology.
4. IMX and TRB: No significant positive news.

Performance of Meme Tokens

The rebound strength of the Meme coin track is significantly stronger than last week. The Ethereum ecosystem is gradually shifting towards supporting the development of Meme projects, bringing a new round of growth momentum. The development focus of Meme projects is beginning to shift onto the Ethereum chain.

Social Media Hotspots

This week, the Layer 1 blockchain projects with the highest attention on social media generally showed a downward trend, mainly influenced by the overall market decline. In a market with fluctuations and a lack of hotspots, major public chains often perform better than other sectors.

Next Week Outlook

1. Bitcoin: Lacks its own favorable factors and is mainly influenced by macro data. It is expected to show a volatile upward trend.

2. Ethereum: The ecosystem is starting to support Meme projects again, with expectations that performance will continue to outpace Bitcoin next week.

3. Altcoin: It is expected to mainly follow macro data fluctuations, making it difficult to establish an independent market trend. Each sector lacks hotspots and may continue to closely correlate with the overall market movement.