Just a month ago, on August 20, Shibarium was basking in the glory of 4.8 million transactions, a day when the network felt invincible, like a titan among mortals. But alas, the tide has turned, and many have fled the sinking ship, preferring the safety of the shore to the stormy seas of crypto volatility. 🚤🌊
Derivatives markets are throwing a party-open interest dances between $190M and $210M like a nervous penguin on roller skates. Traders? They’re still here, dear reader, clinging to positions like monkeys to coconuts, even as the price hums the saddest lullaby near $0.90.
EtherFi is tossing its coins onto Plasma’s sushi conveyor belt (minus the sushi), and voilà-immediate liquidity for all your stablecoin shenanigans. Lending, borrowing, chasing yields… you name it. People want it, because hey, the $280 billion stablecoin market refuses to take a day off. It’s like your neighbor who’s always mowing the lawn. Enough already!
River insists individuals remain the belle of Bitcoin’s ball. How quaint. 🎩
Ah, MemeCore-such a creature of the market. It bounced boldly from the humble $0.39 to a splendid $1.1, only to tiptoe back slightly to $0.983 as if shy of its new crown. All that glitters is not gold, but the trading volume did a jig-up 198% to $43.9 million-while its market cap pirouetted from $1.1 billion down to $926 million. When volume and market cap dance together, one must wonder if the on-chain symphony is of steady melody or fleeting noise.
This coupling, less “Romeo and Juliet” and more “Wall Street waltz,” has danced upon the charts with verdant vigor, technical indicators waving their green flags with the enthusiasm of a caffeine-fueled trader. So here stands Cronos, that intrepid coin, strutting in bullish armor, daring the heavens and maybe the bears themselves to deny its ascent by year’s end.
Solana [SOL], that darling of the blockchain ball, has gracefully defended $200 and is waltzing toward a 13% monthly gain in August, all while ETF expectations whisper sweet nothings in its ear. 🌟
According to Nate Geraci, president of NovaDius Wealth Management, there’s a strong possibility that the SEC will start approving cryptocurrency ETF applications this fall. He anticipates that many of the over 90 applications currently pending will pass, provided they fulfill the final eligibility criteria.
Melker, who last compiled this riveting list in 2023 (a simpler time, when Bitcoin was merely expensive rather than eye-wateringly so), now offers a fresh snapshot of how ownership has evolved-or, more accurately, how some wallets have grown plump while others remain as thin as a dieting greyhound.
By Shayan, who presumably knows these things better than your average bloke lounging at the club.