August 12 Crypto Market Briefing

#### Overview of the market trend

- Bitcoin (BTC): After a sharp drop, altcoins generally fell.

- Overall market: continued to fluctuate and fall.

- US stock market: rebound, Vice President Kamala Harris's election victory rate exceeded Trump.

#### Market hot spot analysis

1. BTC ecosystem performance:

- T (possibly TBTC or other BTC-related tokens) rose, WBTC was taken over by Sun Ge, and the market turned to competitor TBTC.

- T short-selling rate was as high as 6% per day, showing the market's attention to the competitive landscape within the BTC ecosystem.

2. DePIN's HNT rose:

- HNT (Helium Network) rose, and cooperation with US telecom operators may have promoted price increases.

3. Public chain SUI rose:

- SUI public chain rose, and there was news of the launch of Grayscale Trust recently. There will be a large unlocking of 60 million US dollars on September 1, which may have an impact on price trends.

4. Public chain Solana (SOL) fell:

- The difficulty of making money in PvP (Player versus Player) on the SOL chain may be one of the reasons for the decline in SOL prices.

### Summary

Today's market trend shows that Bitcoin has experienced a sharp drop, altcoins have generally fallen, and the overall market continues to fluctuate and fall. In terms of market hotspots, the rise of T in the BTC ecosystem and the increase in short-selling rates, as well as HNT's cooperation with telecom operators, have brought highlights to the market. The rise of the SUI public chain is related to the upcoming unlocking plan, and the difficulty of making money in PvP on the Solana chain may be one of the reasons for the decline in SOL prices. Overall, investors should remain cautious and pay close attention to market dynamics in order to seize investment opportunities.