Market Movers: August 12

Trump Jr. to launch DeFi protocol?

 Authors: Trav and TheOpenChain

Delivering the most relevant info you need to win this coming week.

Not to worry, we will still be delivering high quality alpha and deep dives that you’ve come to trust. This is just another way to help us all grow.

Let’s get into it.

1. Bitcoin Price Overview

  • Chart Insight:

    • Last Week's High: $62,755

    • Last Week's Low: $49,050

    • Weekly Volume: Up from previous week, slightly above average.

    • Daily RSI: 45 - Neutral. (Oversold < 30, Overbought >70)

    • Support Levels: $57.5k, $53.5k

    • Resistance Levels: $60k, $62k, $63k

    • Trend Last Week: Very Bearish with a Bullish recovery!

  • Social Sentiment:

Neutral. Low sentiment often precedes upside moves.

  • Whales Positioning:

Wallets with 10-100k BTC are buying. Bullish

2. Sector Overview

3. Token Performance

Best and worst performers over the past week, of the top 300 tokens by market cap:

4. VC Project Funding

Top Projects that received VC funding last week.

5. Crypto Market News

  • Catalysts and News events for this week:

    • Celsius Sues Tether for $3.5 Billion: ​For misappropriated funds. Tether claims suit is “baseless”. Tether is one of many targets of Celsius lawsuits. (TheBlock)​

    • Polymarket Users bet Harris Beats Trump: Harris jumps in the lead at 52%. (TheBlock)

    • Elon Musk to Host Trump on X Today: having a live conversation together at 8pm EST. (X)​

    • Solana Fixes Major Vulnerability: patches vulnerability where attackers could have led to a Solana Network outage.​ (CoinTelegraph)​

    • Trump Jr. to Launch DeFi Platform: states that he wants to launch a platform to “take on the banks,”.​ (CoinTelegraph)​

    • Adidas Launches Doodles Apparel: collab with ETH NFT collection to launch Digital collectibles and physical apparel. (DeCrypto)

  • Largest Token Unlocks this week:

6. Top NFT Projects by 7 day Volume Last Week

7. Community Corner

  • Your Voice Matters!

    • Have questions or topics you'd like us to cover? Feel free to reach out by replying to this email and we’ll give you a shout out as well!

    • This Week’s Question: “How does social sentiment affect the market?” - Thanks TheOpenChain for the great question!

  • Answer: Markets love to cause maximum pain!

  • When people are the most euphoric, and the most inclined to buy, tops are formed.

  • When people are the most fearful, and sell their bags because of this fear, bottoms are formed.

  • This is a vastly complex topic, but the takeaway is simple: monitor sentiment on X and don’t get sucked into it!

  • Check out this graph to see how spikes in positive sentiment indicates tops, and the deeps lows indicate bottoms:

Check out Santiment for live sentiment updates.

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