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CoinEx Daily: Bitcoin Holds Above $59,000, TON Network Issues Resurface

  • BTC +2.73%
  • SOL -10.49%
  • ETH +3.74%
Published on 2024-08-29


As U.S. stock markets decline, Bitcoin ($BTC) continued to drop yesterday. Despite ongoing ETF inflows, $BTC has yet to recover and is currently holding above $59,000. Ethereum ($ETH) remains weak, although slightly more stable, while ecosystem projects face criticism from Vitalik Buterin. Meanwhile, the TON blockchain experienced another network outage due to the surge in DOGS Meme tokens, further exacerbating negative market sentiment.

Daily Macro:

Bitcoin Market Performance:The decline in U.S. stocks has had a ripple effect on the crypto market, with $BTC continuing its downward trend despite consistent ETF inflows. $BTC is currently hovering around $59,000.

ETF Performance:Yesterday, 10 Bitcoin ETFs saw a net outflow of 1,861 BTC, while Ethereum ETFs saw a net outflow of 1,526 ETH.


Daily Focus:


TON Network Issues and the Indictment of Telegram Founder Durov

Reason for Focus:France has officially indicted Telegram founder Pavel Durov and placed him under judicial supervision, preventing him from leaving the country. Meanwhile, the TON blockchain saw another decline and network outage due to the surge in DOGS Meme tokens, which led to a suspension of on-chain transactions.

Related Token Performance:$TON: Currently priced at $5.58, down 0.53% in the past 24 hours.

Outlook:If network issues persist, $TON may continue to face pressure. Investors should closely monitor the developments in France's legal proceedings and the progress in network restoration.


Solana Ecosystem Expansion and Market Performance

Reason for Focus:Renzo Protocol has announced the expansion of its $REZ token to the Solana network via Wormhole, marking a significant development for the Solana ecosystem. Despite the current market downturn, Solana's staking protocol continues to attract new investments, reflecting long-term confidence in its ecosystem.

Related Token Performance:$SOL: Currently priced at $143, down 0.31% in the past 24 hours.

Outlook:The continued expansion of the Solana ecosystem will lay the foundation for its future growth, especially if the memecoin market sees a resurgence. Investors should keep an eye on new developments within the Solana ecosystem.


Next Focus:


OpenAI’s New Round of Funding and Nvidia’s Earnings Performance

Reason for Focus:OpenAI is reportedly conducting a new round of funding, with its valuation surpassing $100 billion, reflecting ongoing interest and investment in the AI sector. Meanwhile, Nvidia reported better-than-expected second-quarter earnings, but its stock experienced volatility, highlighting concerns about its future growth.

Related Assets:OpenAI and Nvidia-related crypto projects could benefit from the market's long-term bullish outlook on AI and high-performance computing.

How to Participate:Investors might consider focusing on crypto assets related to AI and high-performance computing, especially as market sentiment improves, to capture potential investment opportunities.


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