🚨 Sui Network to integrate native USDC to boost liquidity and attract more users to its network.

The effect is immediate on the $SUI which increases by +8% following the announcement.

🇬🇧 English Supreme Court rules that Tether's stablecoin $USDT is considered property.

“USDT attracts property rights under English law.”
"It can be searched and can be held in trust in the same way as other property."

https://www.coindesk.com/p...

UK High Court Rules Tether's $USDT Stablecoin as Property, as Government Gears Up for New Crypto Legislation.

After the euphoric highs of Q2, fear and doubt have crept back into crypto markets in recent months.

Amidst the uncertainty Solana’s DeFi ecosystem has shed layers of TVL (Total Value Locked), with the majority of protocol’s losing between 13-18% in USD value on a monthly time frame.

However, despite the market-wide pullback, outperformers have emerged. Which protocols created a liquidity vacuum and expanded their TVL despite ailing markets?

NX FINANCE, LULO LEAD MONTHLY TVL GROWTH
Solana’s DeFi scene has enjoyed newfound momentum and attention throughout 2024. However, the last 30 days indicate a charge in sentiment, with the bulk of Solana protocols suffering significant drops in their TVL.

Despite challenging conditions, several outliers have outperformed the wider market and witnessed continued growth in the face of adversity.

Lending aggregator NX Finance led the charge, enjoying consistent growth in the face of difficult markets. Courtesy of its incentivized rewards program, NX Finance TVL rose 65% in the last 30 days, leading Solana’s top 50 DeFi applications by TVL.

Meanwhile, fellow lending aggregator Lulo Finance continued to rise through the ranks, securing over $30M in Directed Liquidity (DL). With over 92% of its DL, a similar metric similar to TVL, held in stablecoins, Lulo-managed value has increased by 32.27% in the last 30 days.

At first glance, DeFiLlama data suggests that Jupiter’s TVL has risen by 47.22% in the last 30 days. However, this increase is due to the popular analytics platform integrating $jupSOL into Jupiter’s total TVL on August 16, adding approximately $300M worth of funds to the platform.

According to Step Finance data, $jupSOL supply has risen 0.36% in the last 30 days. Coupled with the 2.22% decline in Jupiter perpetual TVL in the same time period, it can be concluded that Jupiter’s total TVL has remained relatively stable in the face of challenging market conditions.

Kamino TVL Climbs Despite Falling Prices
Kamino Finance has been one of Solana DeFi’s most solid performers throughout Q3’s volatility. While lending aggregators like NX Finance and Lulo predominantly hold stablecoins, making them more resilient to market downturn, Kamino accepts deposits from a wider range of more volatile assets.

Despite falling asset prices across the industry, Kamino has emerged as one of Solana’s standout DeFi protocols.

While $SOL price has dropped over 36% since its March 18 high of $202 , Kamino TVL has increased by 12% in USD terms. Denominated in SOL, Kamino TVL has risen by 76% in the same time frame.

JUPITER DOMINATES PERPETUAL TVL ACROSS THE INDUSTRY
Jupiter’s perpetual DEX platform shows no sign of relinquishing its iron grip on derivatives dominance. One of Solana’s largest DeFi protocols, Jupiter’s perpetual DEX is currently the largest onchain derivatives market in the crypto industry.

Boasting over $657M in TVL, Jupiter dominates perpetual market share. According to DeFiLlama data, the Solana-based platform currently accounts for 18.82% of onchain derivatives TVL across the industry.

While Jupiter boasts the highest TVL across all perpetual DEXes, its closest rival still witnesses higher trading volumes. During August, Hyperliquid handled $34 .6B in trading volume compared to Jupiter’s $15 .1B. It’s worth noting that Hyperliquid’s high volume could attributed to its points program, which is expected to influence token allocations ahead of the protocol’s upcoming airdrop

📊 Weekly Outlook Charts Sep 2-6:

$BTC $SOL $ETH $WIF

Markets just took a turn 📉
What happened and where are we going?

Bull over? 😞

Heres what you need to know: 👇

🚨Market Breadth is flashing warning signs, with MMMTH, MMMFI, and MMMTW indicators suggesting a potential rotation out of risk. When combined with other indicators such as market fear/greed being neutral, AAII sentiment being 2% off its 1 year bullish high, its likely we will see a rotation out of risk such as crypto - paving a short opportunity for risky assets in crypto (political tokens, meme tokens etc)

https://www.tradingview.co.../

📉 #DXY retest of trend line on broad market pullbacks/weakness. Bearish continuation expected until EOY. Short term upside, longer term downside. 96 on DXY still on the table.

https://www.tradingview.co.../

📈 #SPY breadth is peaking on the 200, 50, and 20 D (see market breadth above)

When the market is running low on breadth, there will be some rotation or correction. Selling expensive stocks for cheaper ones (most likely cyclical's) will cause some selling pressure on the bigger names like NVDA, AAPL etc. Expect sidways choppiness for the majority of the market.

Ichimoku still indicating bullish continuation. Q4 will be good. Target at 6000 remains.

https://www.tradingview.co.../

⛽️ #USOIL staring its trend toward $61 oil as expected. It would have to be an alarming geopolitical situation to turn the course of OIL back up

https://www.tradingview.co.../

⚠️ #btc bulls be very cautious here!

Bear case:
1. SPY breadth running out of steem
2. SPY seasonal weakness in September
3. BTC is below 20 W EMA, 50/200 D MA bearish cross
4. BTC Weekly close below the ichimoku cloud.

Still possible for a 70k retest at trendline, but Bear case outweighs the bull base

https://www.tradingview.co.../

📉 #eth still lagging behind. Alts in general will enjoy a beating as BTC chops/declines.

2k retest is on the horizon.

https://www.tradingview.co.../

Public spending and aid are the norm and the preamble to universal basic income.

The consumer is no longer the center of the economy, it is the government whose spending sustains everything.

Of course this expense is debt, so you have to know how to protect yourself from the upcoming mega devaluation of the USD.

#Bitcoin Technology stocks, semiconductors and commodities are ideal in this situation.

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📊 Weekly Outlook Charts Aug 26-30:

We're expecting some exciting market movements this week. Here's what you need to know:

#DXY is still falling as forecasted, but a bullish divergence is forming on daily charts. Consolidation above 100 levels is possible. https://www.tradingview.co... 📉

#SPY pricing in Fed cuts, consolidation expected until Friday's PCE numbers. Trend still bullish, but uncertainty around Fed's move. https://www.tradingview.co.../ 📊

#USOIL breakout possible from ascending triangle, but depends on geopolitical tensions. If there's no escalation, $67 oil still on the table. [Weekly outlook chart for USOIL: https://www.tradingview.co.../ 💡

#btc traders should exercise caution due to mixed technical and an unfavorable Risk/Reward ratio. It's best to wait for a breakout above $70k . Consolidation may last for months, so patience is key.

https://www.tradingview.co.../🙏

#eth is looking more bearish, struggling to break resistance. If $BTC is rejected from $70k again, expect $ETH to test $2k or lower.

https://www.tradingview.co... 🚨

💶 Binance will list on its platform a new MiCA-compliant euro stablecoin: Eurite (EURI).

EUR/EURI and EURI/USDT pairs will initially be available free of charge 👌

Daily Memecoin Recap - August 23

Crypto is pumping

$btc closes +6% today
$eth & $sol follow at +5% and +7% respectively

Runners Of The Day
$ptc -> $880k to $2 .7m (3.06x), 70% of supply burnt, paper drawings of $btc
$ufo -> hit $2 .4m, decent team, heavily sniped on launch
$sym -> hit $1 .65m, "the most symmetrical dog on Solana",
$nibo -> hit $1 .2m, large buys on launch, decent team, dog meme
$susdog -> hit $950k , based on a viral suspicious dog meme

Smoking Chicken Fish Gains Volume
$scf -> $19m to $83m (4.4x from the low), reversal, banger video drop, team is heavily dedicated
$sed -> $500k to $1 .95m (3.9x), beta to $scf , has been slow cooking since its launch on August 20th, heavy push today following $sc

Fwog Making Higher Highs
$fwog -> $10m to $28m (2.8x),
- Community continues to get stronger
- Some of the best art in the space
- Great background story (dev rugged -> artist/community relaunch)

Utility Play
$chat -> $5m to $18m (3.6x from the low), ATH $174m , shilled by MarioNawfal

Other Cooks
$ong -> $400k to $1 .94m (4.85x), "On God", gen z/tiktok meta, was dead but slowly reviving, ATH is $25m
$afc -> hit $440k , "Airforce Chicken"
$bb -> hit $435k , "Bubble Buddies", based on a spongebob character, twitter community instead of a twitter account
$belief -> hit $375k , influencer coin, dog meme
$mow -> hit $310k , "Monkey On Watermelon"
$kak -> hit $278k , "Kakling Kamala", based on KamalaHarris' laugh, launched on dexscreener's moonshot
$ascend -> hit $240k , cat meme, CTO

The market has been absolutely dead lately, but if majors continue to pump, volume will start to pick up

It's important to consider that September is historically one of the worst months for the market (S&P500)

This doesn't necessarily mean that history will repeat itself, but it is interesting data nonetheless

Lock in 🔒

Bybit Crypto Exchange Announces Zero-Fee Withdrawals for $USD , $USDC , and $PYUSD on Solana Network to Boost Ecosystem Growth.

Our community is diverse and so are our chains! Purchase $LANDLORD from 15 chains!

Excited to announce that #LANDLORD has reached a new accessibility milestone!

You can now purchase $LANDLORD using $USDC from over 15 different chains, including Ethereum and Tron, on FinanceChainge .

How?

1) Cross-swap USDC (any chain) to SOL (Solana) or bridge USDC from any chain to Solana.

2) Swap USDC or SOL to $LANDLORD

This update significantly improves the availability and ease of acquiring $LANDLORD , leveraging liquidity from multiple chains!

📊 Weekly Outlook Charts Aug 19-23:

#DXY still grinding lower. Nothing much has changed since last week. Global PMI data and subsequent labor market data in UK, France, Germany, USA will have an impact on fed cut expectations and by proxy risk assets including the dollar.

The Annual Jackson Hole meeting is this week as well. Surely there will be some volatility. My best guess is Powell restating the fact that the fight against inflation is almost over and focus on labor market data will be prioritized going forward to initiate the 'soft landing'

https://www.tradingview.co.../

Within 2 weeks since the yen unwinding, we are just a couple percentage points off the highs. The vast volatility has me a bit suspicious. Since we are back above the cloud, confirms bullish continuation, however I suspect this week we might range around 5600 on #SPY due to heavy news flow this week.

https://www.tradingview.co.../

Seems like USOIL is closely following DXY most likely due to concerns of global economic growth.

https://www.tradingview.co.../

#btc still lagging risk assets in tradfi markets. Not bullish again until daily closes above the cloud. Still ranging. Not particularly interested here

https://www.tradingview.co.../

#eth is still struggling to pass resistance. Must be patient

https://www.tradingview.co.../

🚨 USDT of Tether_to will be launched on the Aptos blockchain.

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, furthering our commitment to making digital currencies more accessible and functional.”
says Paolo Ardoino, CEO of Tether

https://tether.io/news/tet.../

📲 Circle to introduce USDC tap-to-pay payments on iPhones.

The company is taking advantage of Apple's opening of NFC chips to third-party developers.

https://www.bloomberg.com/...

Pump.fun accrued 0.1% of Solana's supply via platform fees since its creation, holding $80M in their fee wallet. 50% ($40M) is in USDC, and 50% (271,691 SOL) represents 0.0582% of the total SOL supply. Fees are swapped 50/50 for SOL + USDC at the end of each collection period.

Aiming to streamline and simplify the Solana user experience, Fuse Wallet has unveiled yet another creative tool. After delivering Solana’s leading multisig solution and developing a seed phraseless smart wallet, Fuse is finally bringing gas abstraction to Solana.

What is gas abstraction, and how does it facilitate simplified applications on the Solana blockchain?

HOW DOES GAS ABSTRACTION WORK
In an eagerly awaited update, Fuse Wallet has finally implemented gas abstraction. A helpful onboarding tool, gas abstraction makes Solana gas payments simpler than ever before by expanding the ways in which users can pay transaction fees.

Through the platform’s Paymaster feature, Fuse Wallet’s native LST (Liquid Staking Token), fuseSOL can be automatically converted to SOL to pay transaction fees. This gives users greater flexibility by enabling them to deploy all their SOL throughout the ecosystem while still enjoying the staking rewards provided by fuseSOL.

Essentially, Fuse Wallet’s Paymaster feature ensures that your wallet always maintains a minimum balance of fuseSOL that is sufficient to pay transaction fees. Kept separate from your main balance, the Paymaster also allows for a daily spending limit of 0.1SOL.

While for now, this might sound as simple as using fuseSOL for transaction fees instead of SOL, the future implications allow for a far more diversified onchain landscape.

WHY IS THIS HELPFUL?
In the future, Fuse Wallet expects that users will be able to pay gas fees using any supported cryptocurrency, like USDC. Successful implementation of gas abstraction means that users are no longer required to hold SOL in their wallets, enabling them to explore the Solana ecosystem with greater freedom and simplicity.

Additionally, gas abstraction will make it possible for applications to cover the costs of network transaction fees on behalf of their users. This feature eliminates a massive friction point that hampers adoption and helps new users join the onchain economy.

Commentators on social media have lauded the move as a bold step forward for crypto onboarding.

$USDC - New Verified Listing on BullPay !

Sellers can choose to get paid with USDC !

Built for rapid global payments and 24/7 financial markets, USDC is a regulated digital currency you can redeem 1:1 for US dollars.

Sell content, services, digital products, tickets, premium access and more with BullPay.fun !

Pyth Network releases its JLP/USD price feed, the LP token of Jupiter Exchange's perpetual protocol.

Daily Memecoin Recap - August 11

Market is slower compared to a couple days ago, but it's always to be expected on weekends

Runners Of The Day
$crocs -> $1m to $36m (36x), "Crocs In Sport Mode", dog meme
$hazel -> hit $3 .2m, dog with food on his head, $michi dev (ATH $300m +)

Crying Animals
$crying -> hit $10m , "crying cat", old coin that pushed today (was dead before), lots of KOLs involved & whale buys
$crying -> hit $850k , "crying dog", CTO, same dev as crying cat, pumped after crying cat's success

Elon Meta
$grok2 -> hit $2 .55m, elonmusk
tweeted that Grok 2 beta will be out soon

Dog Memes
$boppy -> $452k to $1 .45m (3.2x), CTO, ATH at $2 .3m 2+ weeks ago
$coby -> hit $500k
$mok -> hit $330k
$dawg -> hit $240k , "dawg in me"

More Cooks
$kolt -> $725k to $4 .9m (6.76x), team continues to push, slow cook that heavily pushed today
$eric -> $356k to $1 .3m (3.65x), launched on dexscreener
's moonshot 2 days ago
$slc -> hit $1 .3m, "Soltoshi Nakamato, the creator of Solcoin", dev locked 71% of supply
$qcat -> hit $840k , "Quantum Cat"
$ariel -> hit $800k , cat meme, launched a couple days ago
$weiner -> hit $750k
$knobgob -> hit $750k , Matt Furie meme Matt_Furie

$usdc -> hit 700k, "Unstoppable Salmon Doing Cocaine", similar vibe to $scf , ticker is a play on the stablecoin
$miki -> hit $470k , "Ikea Monkey", CTO
$P1SS -> hit $440k , Mercedes CLR GTR-P1SS, pushed by influencers
$karen -> hit $260k , good meme on karens

A lot of coins dropping without a specific meta

The consistent amount of volume that memes have been getting (regardless of market conditions) over the last 5+ months is one of the most impressive things I've seen in crypto

Will we get a bullish end of year?

BitGo's WBTC custody shift to a Justin Sun -linked venture alarms Maker, citing $TUSD issues under Sun's control. Solana holders, with $108M in WBTC, are also concerned about potential risks and impacts of this move.

New Listing on BullPay.fun!

Get a dedicated 15-minute video on the Crypto Patrick YouTube Channel!

Listing link: bullpay.fun/c/deRndQxtal8u

Cost: USD 350

Crypto Patrick YouTube Channel

BullPay is a marketplace on BullVerse where you can:

- Create payment links
- Sell anything: services, digital products, content, and more
- Get paid with any token on Solana

Soft launch on Monday!

Are you a Solana project?
List your token on BullPay!

Get in touch with @bullpay .

🚨 Tether plans to double its staff to 200 people by mid-2025 to strengthen compliance.

Tether will also add staff to its finance department, which manages the $118 billion in assets backing USDT

My Macro take on crypto

#btc on the weekly doesnt look great. We closed lower than the 20 W EMA on the weekly which has consistently signaled the end of bear markets post halving (may 2021 being an exception). However, this is a weak argument imo and I think this cycle more closely resembles last cycle where we had the exception in May 2021 because there is more evidence that this cycle is not yet done.

https://www.tradingview.co.../

Based on cyclical data, where btc is this cycle indicates 2025 to be a key year as the year after halving is usually the best year.

Image below shows historical dates of mid cycle top/bottoms, and cycle tops/bottoms with dates of halving as well. We were at the mid-cycle top earlier this spring - represented by the purple dot in Cycle 4. If historical data suggests any clues on market cycle top, Q4 2025 would be the date.

Furthermore, the average days from previous cycle tops to current cycle tops are 1268 days. A conservative estimate would be a top in Q2 2025, with the possibility of an extension into Q4 2025 if this cycle follows more closely to the last 2 cycles which had 1450 days between cycle tops. More data suggests Q4 2025 cycle top as the last 2 cycles took 1060 days from cycle bottom to cycle peak.

https://www.tradingview.co.../

Some more data that confirms my biases:

- Average Number of days btc spent above 20 W EMA (last 2 cycles) = 802 days
- This cycle so far = 413 Days

- Number of days btc spent above 200 D MA (last 2 cycles) = 787 days
- This cycle so far = 462 Days.

To sum things up: the data suggests we still have about a year of bull market activity lined up. I'd say Q2 2025 cycle top is conservative given the macro environment. The Sahm Rule and other leading indicators of recession has me worried about the 2nd half of 2025. Economic data is almost always lagging and whether we are in a recession today or not, we will not know until 2 quarters from now. That being said, if Sahm Rule holds true and we enter recession in Q4, we won't know until at least Q2.

📑 Binance releases its 21st Proof of Reserve.

BTC user assets stand at 613,471, up 1.29% from July 1.

ETH user assets are 4.701 million, down 0.21%.

USDT user assets are 21.19 billion, down 1.52%.

#binance recorded a net inflow of $3 .27 billion over the past month

PayPal and Portal have launched the Global $PYUSD Portal Hackathon, which was created mainly to drive innovation using PYUSD within the solana ecosystem.

Fun fact for the newbies:

When solana price goes down the usd MC of solana memecoins is going down as well. Considering that the counter buy volume is small 😵

On GetGems you can trade for $NOT and $USDT ❤️

The project manager announced this the day before yesterday at the weekly AMA meeting.

BullPay update !

When listing an item for sale on BullPay you can specify the price in USD, as well as choose which Solana token you want to receive as payment.

The number of tokens during checkout is calculated automatically based on the price of the token.

Dear users, if you are interested in this feature of listing items for sale, write to the official channel @bullverse and they will give you early access