1. Market environment
In the past 24 hours, BTC has been on a unilateral upward trend, with the price of BTC rising continuously from $62,000 to the current level of $64,500. BTC spot ETF has seen net inflows for the seventh consecutive trading day, with a net inflow of $300 million yesterday, becoming the main driving force for BTC's rise.
The SEC requires ETF issuers to submit the final S-1 filing by this Wednesday, which means the SEC will announce the approval results next Monday and the relevant ETFs may go online next Tuesday.
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2. Wealth-creating sector
1) Sector changes: Meme sector (PEPE, WIF, FLOKI)
main reason:
Blue-chip tokens such as ETH and SOL began to rebound;
The market is paying more attention to the Meme coin sector, and there are good gaming opportunities in the technical indicators of the Meme sector;
Increase: PEPE, WIF, and FLOKI increased by 26.4%, 23.2%, and 23.1% respectively within 24 hours;
Factors affecting the market outlook:
Price token trend: For PEPE, the trend of ETH tokens will affect the price of PEPE, because BONK on DEX is denominated in SOL. Continue to pay attention to the price trend of ETH and SOL. If ETH and SOL maintain an upward trend, you can continue to hold Meme assets in the relevant ecosystem.
Increase or decrease in open interest: Look at the contract data to understand the movement of major funds. In the past 24 hours, the open interest of PEPE surged by 30%, mainly due to the increase in net long positions. The account long-short ratio fell below 1, indicating that major funds opened long positions in PEPE through contracts. In the future, you can continue to pay attention to changes in contract data.
2) Sector changes: AI sector (ARKM, TAO, NEAR)
main reason:
As the overall crypto market rebounded, the AI sector took the lead in rebounding, mainstream AI tokens all rose steadily, and sector funds were active.
Dell is an active stock in the AI sector of the US stock market this round. The CEO pays attention to and retweets related to cryptocurrency, which makes the market continue to pay attention to the AI crypto asset sector.
Increase: ARKM, TAO, and NEAR increased by 10.5%, 5.5%, and 8.6% respectively within 24 hours;
Factors affecting the market outlook:
Large financing information in the primary market: ETHCC was held in Brussels as scheduled, and participating institutions paid attention to the primary trends of the AI sector. Sentient, an AI Model-related research project, completed a financing of US$85 million, and the market once again paid attention to the effective combination of AI ecology and blockchain.
Actions of traditional technology companies: OPENAI’s launch of new products often drives the rise of the AI sector. Currently, this track is still in its early stages and requires stimulus from news to continuously raise valuations in the secondary market.
3) Sectors that need to be focused on in the future: ETH ecosystem projects (UNI, LDO, PEPE)
main reason:
The S-1 filing of the ETH spot ETF may be officially launched in the U.S. capital market on July 23, and ETH ecological assets may have room for speculation. Recently, the track has experienced a large correction and has fallen out of layout space;
Specific currency list:
UNI: The first DeFi Swap project on blockchain applications. Uniswap’s average daily revenue in the past was around $1 million, which is a considerable income.
LDO: The leading LSD project in the ETH ecosystem, with a TVL of 29.6 billion US dollars and a valuation of less than 1.8 billion US dollars, is relatively undervalued;
PEPE: Currently, it is the most hyped meme coin in the ETH ecosystem. It has a very strong community foundation and is likely to continue to rise along with the ETH price.
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