📊 Chainlink and Ethereum are seeing their combined lowest levels of 30-day (short term) and 365-day (long term) average trading returns Sunday. Historically, the more 'blood in the street' there is from other traders, the more justification there is to buy into others' pain.

📊 Saturday is finally bringing a bit of solace to the markets, with mild bounces forming for Ethereum (back just above $3K) and Solana (just above $150). Longs were heavily liquidated on the drop. The hope is that greed stays tempered now, allowing for a weekend relief rally.

🤷 With this dip being roughly on par to the one we saw in early July, the same crowd enthusiasm for dip buying isn't present... at least not yet. Look for $60K BTC or $2.9K ETH to be key psychological levels that may be enough for traders to open their wallets.

📊 Crypto markets have retraced across the board, leaving traders calling for sub-$50K BTC once again. However, history shows that when we see such low 7-day average trader returns for top caps like BTC, ETH, ADA, XRP, DOGE, and LINK, bounce probabilities rise significantly.

How Will Crypto Fare in August? (TWIC August 2nd) https://x.com/i/broadcasts/1rmxPoWYdLEJN

🐂🤞 Traders mainly have a bullish outlook toward top caps as the calendar has turned to August. Expect the FOMO to die down a bit before BTC, ETH, XRP, and SOL go on major runs. BNB is one of the few large caps seeing less bullish narratives than average at the moment.

📊 July's crypto markets were capped off with an aggressive slide that has shifted many FOMO buyers into panic sellers. Political news sparked a mini bull run, then whales decided to come in like a wrecking ball. Enjoy our monthly recap here as we turn our views ahead to a potential August rebound. 👇
https://t.co/R8ZULKSm9R

To enjoy this monthly report and view all of Santiment's exclusive pro reports and real-time metrics, consider a free 2-week trial to see what others in crypto can't. If you aren't already part of our growing community of happy members, try it out risk-free here! 👇

📊 XRP Ledger, among one of the best performers in July, has been powered by high on-chain activity. Major whale transaction levels and network growth helped propel the coin's +35% month, and social dominance is now sky-high as the asset has mildly retraced.

🧑‍💻 Here are crypto's top ERC-20 coins by notable development activity in the past 30 days. Directional indicators represent each project's ranking rise or fall since last month:

1) @chainlink $LINK 🥇
2) @ethstatus $SNT 🥈
3) @ethereum $ETH 🥉
4) #susd $SUSD
5) @synthetix_io $SNX
6) @safe $SAFE
7) @dYdX $DYDX
8) @decentraland $MANA
9) @realmasknetwork $MASK
10) @ninechronicles $WNCG

With this watchlist, filter for the top rising projects in the ERC-20 space to optimize your portfolio according to your strategies:
https://t.co/2KHA4IaMVt

Read our latest explanation of our methodology for pulling github activity data from project repositories, and why it is so useful for crypto trading: https://t.co/hPpga2LHWZ

Grab a free 2-week trial to Sanbase PRO and see what others in crypto can't here:

🇺🇸😐 The FOMC decided to hold US interest rates steady today, resulting in an initial drop to crypto prices. Traders had some hope that Jerome Powell may opt to cut rates this time, which would have been the first time this happened since March 15, 2020.

If and when a rate cut finally occurs, this would be a bullish signal for crypto traders and would theoretically lead to a higher potential for both stocks and crypto to thrive for the rest of 2024.

As for how we can expect things to proceed now, after a bit of the emotional selloffs calm down, expect for markets to flatten out barring another large event that could shake crypto. Aggressive whale accumulation and increased crowd negativity would be the ideal recipe for a big market-wide bounce. 📈

🗣️👍 Commentary has been leaning positive toward Bitcoin this week. In fact, this is the highest level of bullish commentary from the crypto crowd since the week of May 15th. The level of optimism from the crowd indicates that many believe $70K BTC is imminent.

📊 As Bitcoin ranges just north of $66K, take note of the rising level of unique tokens being transferred between wallets. 244K BTC circulating in a single day was the most since March 5th. Utility is gradually returning back to levels last seen during the bull run in Q1. 👀

🐳🦈 The amount of wallets holding at least 10K XRP has skyrocketed in the past 5 weeks. 279.4K such shark & whale addresses exist on the ledger, returning to a 6-month high. The correlation between these wallets and XRP's market value has been undeniable throughout 2024. 👍

📊 Mixed news as far as coin exchange flow as July is coming to a close:

🐂 Bullish: Ethereum just had a 2-month high 80.8K ETH outflow from exchanges. This reflects less risk in future selloffs that could impact ETH's price negatively.

🐻 Bearish: Tether just had a 5-month high 346M USDT outflow from exchanges. This reflects less buying power for future purchases from traders, which is generally a necessary ingredient needed to boost prices in the long run.

🗣️ As markets range on Tuesday, the cryptocurrencies seeing the highest rises in discussion rates include:

🪙 Bitcoin: The US government transferred $2B worth of BTC tied to Silk Road, causing Bitcoin's market value to crash. Trump's comments about the future of crypto spark debate.

🪙Compound: There was a controversial vote to move $24 million in tokens, a truce reached with a crypto whale named Humpy after a supposed 'governance attack', and a new proposal to make staked COMP a yield-bearing token.

🪙XRP: Discussions around its price movements, market performance, legal battles with SEC, and comparisons with other cryptocurrencies like Bitcoin.

🪙Solana: Recent surge in its price and popularity among crypto investors. Many people are discussing its potential for scalability and fast transaction speeds compared to other blockchain networks.. telegram: Solana is trending in the given texts due to discussions about investors flocking back to Solana, the possibility of a Solana ETF, and a new cryptocurrency turning heads.

🤔 Bitcoin currently sits at a market value of $66.5K. Which threshold will crypto's top market cap asset cross next?

📺 Bitcoin's latest rally came up just short of the coveted $70K return traders wanted. Why? Other than greed, our latest video explores the whales taking a short breather, and plenty more. Enjoy our discussion about BTC and key altcoins to watch! 👇
https://youtu.be/h3BsU-tcGqI

📊 The crypto community has shown an increased focus on Bitcoin, Ethereum, and Solana compared to meme coins and other sectors. Crypto's consistent rises occur most often when there is a focus on top caps (a sign of caution) rather than more speculative assets (a sign of greed).

🤑 Bitcoin's +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month. The ratio of positive vs. negative comments toward BTC has launched to its highest level since March, 2023 as an all-time high is back on radars.

📈 Trading volume has veered heavily toward Bitcoin, Ethereum, & Solana as crypto's topsy turvy week ends on a good note. It's common for market-wide growth to be powered by these layer 1's, then redistributed to layer 2's & more. This may be a likely outcome for this weekend.