BTC (0.43% | Current Price 114,701 USDT): BTC has recently declined from a high of 119,000 USDT, breaking below the key support level of 115,000 USDT. It then oscillated in the range of 112,000 to 114,000 USDT, attempting to find support and build a bottom. Currently, the price has gradually stabilized and rebounded to around 114,689.8 USDT. The 112,000 USDT level constitutes a phase bottom support, which is crucial for maintaining the rebound trend; while 115,000 USDT is the current main resistance. If it can effectively break through and hold above this level, it will open up space for further rebounds. On August 1, the net outflow of BTC ETF reached 812 million USD in a single day, with BlackRock's IBIT seeing an outflow of 2.6 million USD and Fidelity's FBTC seeing an outflow of 331 million USD.
ETH (3.12% | Current Price 3,533 USDT): ETH experienced a significant decline in the past few days, entering a slight oscillation range after hitting a phase low, attempting to build a bottom. Currently, the trend is gradually showing signs of an upward breakout, with the price approaching the key resistance range of approximately 3,534.26 USDT. This area previously acted as support during the decline and may now turn into a new resistance level. If ETH can break through this range with volume, it is expected to open up further upward space. On August 1, the net outflow of ETH ETF reached 152 million USD in a single day, with Fidelity's FETH seeing an outflow of 6.2 million USD.
Altcoins: Most mainstream altcoins have rebounded, and there is still hope for continued oscillation upward in the short term. The Fear and Greed Index reported 64 today, still in the greed range, indicating that market sentiment is relatively positive but attention should be paid to the risk of overheating.
Macro: On August 1, the S&P 500 index fell by 1.60%, closing at 6,238.01 points; the Dow Jones index fell by 1.23%, closing at 43,588.58 points; the Nasdaq index fell by 2.24%, closing at 20,650.13 points. As of August 4, 10:30 AM (UTC+8), the spot price of gold is reported at 3,353 USD per ounce, with a 24-hour decline of 0.28%.
According to Gate's market data, the Ani token is currently priced at 0.0436 USD, having risen approximately 47.82% in the last 24 hours. Ani the Grok companion is a 3D animated AI character launched by xAI for the iOS version of the Grok app on July 14, 2025. Ani is a female virtual character inspired by anime, featuring golden twin tails and a gothic black dress, designed to interact with users through voice.
Previously, Musk retweeted a post about some accounts on the X platform being updated to the Grok humanoid companion image developed by xAI. This includes the account with the handle @a being updated to "Ani," @v changing to "Valentine," and @Rudi updating to "Rudi," all related to the Grok virtual companion, further sparking market interest in the AI virtual character sector. As a result, the price of the Ani token saw a sharp increase that evening, with a high-volume bullish candle breaking through a long-standing oscillation range, indicating strong capital involvement. The current price is around 0.043615 USD, possibly undergoing a technical pullback confirmation after the breakout. If this price level can form effective support, there is still potential for further upward movement.
According to Gate's market data, the ENA token is currently priced at 0.6246 USD, having risen approximately 17.46% in the last 24 hours. Ethena is a synthetic dollar protocol based on Ethereum, offering a new type of stablecoin called USDe. Unlike traditional dollar-pegged stablecoins, USDe does not rely on fiat currency but is collateralized through staked Ethereum and short futures positions, achieving a "synthetic dollar."
With the recovery of Bitcoin and the overall market, the sentiment in the crypto market has significantly improved, driving an overall rebound in the altcoin sector. Among them, the popularity of stablecoins continues to rise, and the Ethena protocol's TVL has soared to a new high of over 9.4 billion USD, providing strong fundamental support for the ENA price increase. ENA quickly rebounded from the bottom area, forming a typical "V-shaped reversal" pattern, showing strong buying power. Subsequently, the price trend continued to be strong, establishing higher lows and highs, entering a clear upward channel, with a significant bullish trend technically. Currently, ENA is approaching the previous high of 0.6249 USD, which is not only a key resistance level but also a critical point to verify the sustainability of the rebound.
According to Gate's market data, the INIT token is currently priced at 0.4167 USD, having risen 13.47% in the last 24 hours. Initia is a multi-chain ecosystem aimed at connecting full-stack applications and unlocking value through interconnected infrastructure and coordinated economic models. The project provides an "Eden-like" environment, offering opportunities for developers and users to build and use.
Previously, the "Unstaking Subsidy Program" launched by the Initia Foundation became a market focus, aimed at incentivizing ecosystem participants to reallocate assets and activate liquidity. The application window has now been extended by 24 hours, facilitating liquidity release for more users, driving capital back into the market, and significantly boosting market sentiment. Under policy stimulation, the INIT price gradually strengthened after finding support around 0.36 USDT, forming a series of small bullish candles, successfully breaking through the key integer level of 0.40 USDT, and is now approaching the previous high of 0.4175, constructing a strong technical structure of "low-level oscillation bottoming + volume rebound." Especially on August 4, the price broke through the previous consolidation area with a high-volume bullish candle, indicating concentrated capital entry, with market bullish sentiment clearly dominant. If the policy dividends and market momentum can continue, INIT is expected to challenge higher price ranges, initiating a mid-term upward trend.
According to the latest data from DeFiLlama, in the past 24 hours, the decentralized trading protocol Fluid recorded a trading volume of 1.432 billion USD on the Ethereum mainnet, surpassing the long-established DEX Uniswap (1.335 billion USD) for the first time, becoming the current highest daily trading volume decentralized trading platform on the Ethereum mainnet. This performance marks a rapid increase in Fluid's activity and user attraction within the Ethereum ecosystem, even completing a volume surpassing leading protocols in a short time.
Fluid's ability to achieve a short-term volume surpassing Uniswap amid fierce competition indicates that it has made significant breakthroughs in product mechanisms, user experience, or liquidity incentives. Especially in the current context of the overall recovery of the DeFi market, where users are increasingly valuing efficient matching and low slippage experiences, Fluid's rise not only challenges the monopoly of leading protocols but also reflects subtle changes in the competitive landscape within the Ethereum ecosystem. However, whether it possesses sustained leading capabilities still needs to be observed through key indicators such as the stability of its trading volume, depth of capital liquidity, and long-term user retention. While the short-term explosion is certainly worth noting, it is more important to see if it can continue to build a moat and create ecological stickiness.
According to Dune Analytics data, Coinbase-supported Ethereum Layer 2 network Base has surpassed Solana in the number of tokens issued in a single day for the first time, becoming the most active token creation platform currently. This leap is mainly attributed to the strong performance of the decentralized content platform Zora, which launched the "Creator Coins" mechanism, assetizing content and greatly stimulating user participation enthusiasm.
Additionally, the official Base application completed a brand transformation in July, fully transitioning into a "SocialFi" platform aimed at Web3 social interactions, bringing a large influx of traffic to ecological projects like Zora. Data shows that Zora has generated over 1.6 million creator tokens on the Base chain, attracting nearly 3 million active traders, with a total trading volume of up to 470 million USD, driving the ZORA token up over 500% this month.
The rapid rise of Base reflects the enormous potential of L2 networks in terms of user scale and innovative experimentation. Leveraging Coinbase's traffic entry and the Web3 social narrative, Zora has effectively implemented the idea of "content as an asset," significantly stimulating on-chain activity among creators and speculators. This trend indicates that SocialFi is gradually becoming a new engine driving growth in on-chain activities. However, it is worth noting that among the current active users of Zora, there is a clear trading orientation, with a strong short-term speculative atmosphere, and the long-term health of the ecosystem still requires a more complete governance system and sustained participation from genuine content creators.
According to the latest data from DeFiLlama, the stablecoin market continues to show a mild expansion trend, with a total market capitalization reaching 267.405 billion USD, an increase of approximately 1.78 billion USD compared to the previous week, with a week-on-week growth rate of 0.67%. Among them, Tether (USDT) remains dominant, accounting for 61.61% of the total stablecoin market capitalization.
The steady growth of stablecoin market capitalization is often seen as an early signal of capital returning to the crypto market. In the current context of oscillating market conditions, funds are more inclined to observe and position through stablecoins, especially with the continuous rise in the proportion of USDT, reflecting its core position in risk aversion and liquidity demand. However, the current increase is still mild and has not formed a trend explosion. This also means that market sentiment is gradually warming up but is still in a cautious exploratory phase. Attention should be paid to whether funds will further shift from stablecoins to risk assets to confirm the signal for the start of a new round of market trends.
Related: 23 state licenses pave the way, compliance takes a key step: How Gate US finds breakthroughs in the regulatory jungle of the US crypto market.
Original text: “Fluid's daily trading volume surpasses Uniswap | Base chain token issuance surpasses Solana”
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