Daily Report - August 22, 2024

https://t.co/U8A2dSxEwn Trend:

•The market experienced a choppy rebound, with a focus on small and speculative stocks indicating a liquidity crunch.

•U.S. stocks rebounded as the Federal Reserve minutes hinted at a possible rate cut in September.

https://t.co/v2IrCI3fvS Hotspots:

1.FTM Public Chain: FTM saw gains as it plans to transition to a new EVM-compatible chain called Sonic, along with launching a developer incentive program.

2.MATIC Public Chain: MATIC increased in value, with ecosystem projects like QUICK following suit. MATIC will rebrand to POL on September 4th, primarily due to the complete release of the old tokens, allowing for continued issuance with the new token.

3.Old DeFi Projects: Tokens like FXS, UNI, AAVE, and AEVO rebounded. Vitalik Buterin publicly endorsed the Ethereum chain, and AAVE’s quarterly revenue exceeded its previous bull market peak.