According to BitMart's market report on August 11, the total market capitalization of cryptocurrencies over the past week was $4.06 trillion, an increase of 9.43% compared to the previous week.
This Week's Cryptocurrency Market Dynamics
Last week (8.04-8.10), the net outflow amount for BTC ETFs was $812 million. Over the weekend, BTC maintained a strong performance, returning to around $119,500, with a temporary market share of 59.5%, indicating that during the overall upward trend, more altcoins outperformed BTC.
Last week, ETH ETFs saw a net outflow of $152 million, with over $8 billion in inflows over the last 10 weeks. ETH continued to rise, breaking through $4,300 over the weekend, with its market share significantly increasing to 13%, showing a very strong performance.
This Week's Popular Cryptocurrencies
In terms of popular cryptocurrencies, ETH, LINK, XRP, BTC, and SOL all performed well. ETH's price increased by 21.9% this week, reaching a high of 4348.15 USDT. LINK's price rose by 33.78%, with a 24-hour trading volume of 66.97 million. SOL and BTC increased by 13.28% and 6.84%, respectively. XRP had a 24-hour trading volume of 1.8 million USDT.
U.S. Market Overview and Hot News
The S&P 500 rose approximately 2.4% over the week, recording its best weekly performance since June and nearing historical highs. The Nasdaq Composite Index increased by about 3.9% over the week, repeatedly setting new historical closing highs. The Dow Jones Industrial Average rose by about 1.3%.
The U.S. July CPI data will be released on August 12 at 8:30 PM.
Popular Sectors and Project Unlocks
Base Ecosystem
TVL has surged significantly, with user activity notably increasing. In the Ethereum ecosystem, the Base Layer 2 solution from Coinbase saw its TVL (Total Value Locked) skyrocket by 9000%, currently reaching about $4.5 billion, reflecting that Base's scalability and low transaction costs have attracted a large amount of liquidity and user participation.
Aptos (APT) will unlock approximately 11.31 million tokens on August 12 at 8 AM Beijing time, accounting for 2.20% of the current circulating supply, valued at about $52.1 million;
Avalanche (AVAX) will unlock approximately 1.67 million tokens on August 15 at 8 AM Beijing time, accounting for 0.51% of the current circulating supply, valued at about $39.2 million;
Arbitrum (ARB) will unlock approximately 92.65 million tokens on August 16 at 9 PM Beijing time, accounting for 2.04% of the current circulating supply, valued at about $41.9 million;
Risk Warning:
The risks of using BitMart services are entirely borne by you. All cryptocurrency investments (including returns) are inherently highly speculative and involve significant risk of loss. Past, hypothetical, or simulated performance does not necessarily represent future results.
The value of digital currencies may rise or fall, and there may be significant risks associated with buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.
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