7/19 Market Events Overview
Market Dynamics:
BTC entered a downward channel after a false breakthrough, and the altcoin market generally followed the decline.
The U.S. stock market was also under pressure, breaking down and showing a downward trend. U.S. President Biden was reported to be considering withdrawing from the election, exacerbating market uncertainty.
Market Hot Spots:
The rise of the robot BN project: Banana is about to be listed on the exchange, and BN has set a record high, with a market value of over $700 million. Its annualized revenue is stable in the range of $200-300 million, benefiting from the vigorous vitality of on-chain dog trading. This project is also the first support project for BNB holders, which has attracted much attention.
SOL Ecological Recovery: SOL series projects such as wif, billy, and jup have shown strong upward momentum. After four months of adjustment, SOL has sufficient time dimension and its fundamentals are better than ETH. The market expects that the MEME tokens and decentralized exchanges on the SOL public chain will usher in better performance.
TON Ecological Airdrop Benefits: The Pixfl project of the TON ecosystem has launched an airdrop, with a current market value of approximately $200 million. Pixelverse, a click-based battle game, is planning to launch a game L2 solution. Although the first round of airdrops is not large, there is still a 20% airdrop to look forward to, and each participant can get less than 10U in rewards on average.
MEME new star Miggles explodes: Miggles project based on Base chain, a cat-themed MEME token, achieved an astonishing 1,000-fold increase in just three days, and its market value soared to 60 million WU, becoming the focus of market discussion.
