CMC Market Pulse provides usable market information, giving you all the key stories and developments you need in less than 5 minutes.
Bitcoin (BTC) ended the week down 1.24%, while Ethereum (ETH) showed weakness, down 3.89% in the same period. The market capitalization of total cryptography plunged 2.1% to finish the week at $ 3.891, down compared to 3.977 T $ the previous week.
This week’s liquidations have been concentrated again mainly in the long term, with around 1 billion dollars long liquidated during the week from the weakness of the market. Unsurprisingly, the funding rates have been relatively stable downwards throughout the week, most of the funding rates already at relatively low levels.
📌 Michael Saylor’s strategy acquires 4,048 BTC in last week, for a total cost of $ 449.3 million. – Link
📌 Sharplink Gaming bought 39,008 ETH at an average price of $ 4,531 per token, carrying their total assets at 837K ETH. – Link
📌 Hedera was selected to support the stable token of the Wyoming border (FRNT), their stablecoin emitted by the state. – Link
Why is it important?
The cryptography market and traditional markets began to diverge this week in the middle of emerging figures on a weakening labor market. The traditional markets showed resistance, the S&P 500 up 0.28% during the week, while the NASDAQ underperformed, up 0.13% over the same period.
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The centralized exchanges announce plans to continue their usefulness for their tokens thanks to integrations with their respective channels.
📌 Bitget announces plans to integrate their token, BGB, with their L2, morph, making the BGB the official gas and Morph governance token, alongside a burn of 220 million BGB tokens or 19.2% of the supply of tokens
📌 Bybit announces plans to further integrate the MNT token into their operations, including reductions in negotiation costs to MNT holders, access to bay launctions, VIP levels and benefits, and more – link
Why is it important?
Binance and BNB presented the game book for centralized exchanges and their tokens. With the market embracing utility tokens, the integration of exchanges with their own chains and tokens is the next natural step.
📌 Prediction market, Polymarket, provides for their American launch after the green light from the American CFTC. – Link
📌 Kraken acquires a trading firm for Crypto, Breakout accessories. – Link
📌 L2 with Consensys, Linea, announces Linea Ignition, an incitement program to reward liquidity suppliers on the channel until the end of October, with Linea 1B tokens to be distributed. – Link
📌 Hyperevm commercial terminal, based, introduced the based cloud, allowing anyone to configure its own front on hyperliquid easily, without a month of development work. – Link
📌 Interoperability layer, network of particles, announces that their chain, the particle chain, will be launched as an Avalanche L1. – Link
Why is it important?
The prediction markets remained a hot topic and a primordial use case for Crypto after Polymarket predicted Donald Trump’s victory precisely during the American presidential elections of 2024. With the green light from the CFTC, the story of the prediction markets will only grow.
Source: https://coinmarketcap.com/chain-ranking/
📌 Project defeated by Trump, the World Liberty Financial token is put online for trading. During the same week, a proposal was made for the redemption and combustion of WLFI tokens using 100% of the costs gained from the liquidity belonging to the World Liberty Financial Protocol. – Link
📌 Arbitrum introduces the incitement program (DRIP) (DRIP), to reward users of active challenge on the channel for loan, loan and loop activities. – Link
📌 Lido Finance’s main ethn ignition protocol, introduces Lido to win, allowing stakers to directly access the vaults organized to gain yields on ETH marked. – Link
📌 Galaxy and Superstate Partner to emit Glxy tokenized actions on Solana via the SuperState opening bell platform. – Link
📌 DEX, Bunni, based in V4 Uniswap, was operated on Ethereum and Unichain, resulting in a loss of $ 8.4 million. – Link
Why is it important?
The token World Liberty Financial is finally posted, marking one of the most anticipated launches of the year with its direct connection with the Trump family. However, initial token performance leaves much to be desired.
📌 Samecoin Launchpad, Pump.fun, presents Project Ascend, a series of updates, including dynamic costs for creators and faster treatment deadlines for CTO creator costs. – Link
📌 The AI ​​commercial engine, Vigil Labs, collects $ 5.7 million in a seed lap led by Nova Holdings, with the support of Pantera, Lux Capital, SV Angel, Soma Capital and more. – Link
📌 CRAD SPABLECOIN CARD, RAIN, collects $ 58 million in a B financing tour led by Sapphire Ventures, with the participation of Dragonfly, Galaxy, Lightspeed and more. – Link
📌 The Stablecoin infrastructure project, UTILA, collects $ 22 million in a series extension tour led by Red Dot Capital Partners, with the support of Nyca Partners, Wing Venture Capital, DCG and more. – Link
📌 ETHEREUM Advocacy Group, Ethealalize, collects $ 40 million in a financing tour led by Electric Capital and Paradigme. – Link
📌 L2, with Connesys, Linea, releases her Aerial Plateaux auditor for the Linea Airdrop and Tge on September 10. – Link
📌 MONAD is launching the second wave of MONAD cards, opening complaints up to 4,000 other eligible candidates. – Link
Source: @ZachXBT
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