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On August 12, the TRON ecosystem DEX, SUN.io, launched Sun Pump, the ecosystem's first memecoin issuance platform. Its goal is to provide creators with a convenient and cost-effective token issuance solution. As of August 21, Sun Pump has surpassed pump.fun in revenue and the number of new tokens issued. Some Meme coins issued on Sun Pump have shown astonishing performance. For example, SUNDOG increased by 10,156 times within 5 days and 8 hours of its creation, and FOFAR increased by 6176 times in 4 days and 6 hours. These skyrocketing memecoins have attracted significant attention from investors.
Since Q2 2024, despite the overall decline in the cryptocurrency market, one ecosystem has bucked the trend and delivered exceptional returns—the TON ecosystem. The price of TON has surged by over 3.5x since the beginning of the year and is currently fluctuating around $7, near its all-time high. Backed by Telegram's nearly 1 billion users, the TON ecosystem has developed a range of unique applications that have recently become a focal point within the community.
The uncertainty surrounding macroeconomic conditions and market reactions makes it challenging to predict short-term and mid-term market trends, with both black-swan and white-swan events possible at any time. Therefore, a rational approach would be to maintain a balanced position and reserve funds for potential dip-buying opportunities. In our last issue, we recommended several passive income products on Bitget. Now, we will introduce additional products based on USDT/USDC, BTC, and SOL, available both on Bitget and their respective blockchains. (While ETH-related LST and restaking projects have shown the highest potential returns lately, they are not included in our recommendations this time due to the high uncertainty of LST projects and their lack of flexibility in unstaking.)
As global market risks intensified this week, crypto assets across sectors experienced significant corrections and poor performance. Passive income products from centralized exchanges can offer low-risk returns despite market volatility by utilizing diversified portfolios to mitigate downside risks. This week, we recommend Bitget Earn's passive income products for our key clients.
On July 27 (local time), the current Republican presidential candidate Donald Trump attended the Bitcoin Conference. Essentially, the purpose of his appearance was to rally the mining community in the United States. The conference announced positive news for the mining industry, with a 12% increase in KAS over the past seven days and a noticeable net inflow of funds and traffic, indicating a certain wealth effect.
In the past three weeks, SOL's price has rebounded strongly from a low of $120 to a high of $185 on July 21. This represents a robust recovery of over 50%, surpassing the rebound seen in BTC, ETH, and most other high-cap altcoins, becoming a strength eco-project worth focusing on.
- 01:51Swarms Founder: Autonomous hedge fund is about to launch, including features like proxy tradingSwarms founder Kye Gomez posted on X stating that Swarms' autonomous hedge fund is about to launch, and released its preview, including features such as investing in DAOs, proxy trading, and profit distribution to members.
- 01:50Trump: Plans to impose a 25% tariff on goods from Canada and Mexico starting February 1stOn January 30 local time, US President Trump stated that he plans to fulfill his promise of imposing a 25% tariff on imported goods from Mexico and Canada on February 1, and will decide whether to include oil in the list of taxed commodities on the evening of January 30. On January 20, Trump told the media while signing a series of executive orders in the Oval Office at the White House that he is considering imposing a 25% tariff on Mexico and Canada, which may be implemented starting from February 1 this year.
- 01:49The U.S. SEC approves Bitwise Bitcoin and Ethereum ETF to be listed on NYSE ArcaOn January 31, the U.S. Securities and Exchange Commission approved a rule change application submitted by the New York Stock Exchange Arca, allowing for the listing and trading of Bitwise Bitcoin and Ethereum ETF stocks on its exchange. According to this proposal, Bitwise Bitcoin and Ethereum ETF will hold spot bitcoin and ethereum based on their market value proportions.