Welcome, Crypto enthusiasts!

During the largest wipeout crypto has seen in a year, Bitcoin hit ATH volume and coins like Solana have recovered quickly showing bullish appetite is still there among traders.

In Today’s Blockstreet Journal:

• BTC Volume Hit ATH

• Solana Rebounds Quickly

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
👀 BTC Volume Hit ATH 

Word On The Street: Bitcoin transactions on exchanges surged dramatically amid turbulent market conditions, setting a new all-time high in trading volume.

The details:

• According to data from Blockchain.com, the total US dollar value of trading volume on major Bitcoin exchanges surpassed $1.14 billion.

• The last time a similar transaction volume was recorded was in March, prior to the fourth Bitcoin halving on April 20.

• After the halving, daily exchange trade volumes on Bitcoin exchanges averaged around $30 million.

Why it matters: The recent surge in Bitcoin transactions highlights the volatile nature of the cryptocurrency market and the opportunistic behavior of investors.

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ALT COINS
📈 Solana Rebounds Quickly 

Word On The Street: Solana recovered a significant portion of its losses following a sell-off on August 5, which many referred to as "Black Monday."

The details:

• As of August 6, SOL's price has rebounded to just over $144, marking a 31% increase from its local low the day prior.

• The recovery in SOL's price aligns with increases in the broader crypto and global stock markets, driven by data from the US service sector.

• Solana's gains are part of a technical rebound that began after its daily relative strength index (RSI) neared oversold readings.

Why it matters: If Solana's rebound continues, its price will likely target $188.50—its May and July high—as the next upside target by September.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2T, a 5.33% increase over the last day.

The total crypto market volume over the last 24 hours is $130.49B, which makes a 45.07% decrease. The total volume in DeFi is currently $6.23B, 4.77% of the total crypto market 24-hour volume. The volume of all stable coins is now $122.47B, which is 93.85% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 55.69%, a decrease of 0.36% over the day.

Global Market Metrics

As of today, the global cryptocurrency market is in the following state:

- Total Market Cap: Approximately $2 trillion USD

- Total Market Volume: Around $130.49 billion USD

- Bitcoin Dominance: 55.69%

- Ethereum Dominance: 15.26%

- DeFi Market Cap: Approximately $56.74 billion USD

- Stablecoin Market Cap: Approximately $158.19 billion USD

- DeFi Volume: Around $6.23 billion USD

- Stablecoin Volume: Approximately $122.47 billion USD

- Derivatives Volume: Around $1.01 trillion USD

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ GRVT Airdrop

GRVT has raised $9.3M from various investors, such as Delphi Ventures and CMS Holdings, and has allocated 11% of its total token supply for the airdrop. Sign up for the testnet and complete simple tasks to earn points. They’ve also allocated 2.4M ZK tokens to the first 30,000 participants who join the upcoming open beta testnet.

Step-by-Step Guide:

1. Visit the GRVT website.

2. Click on “Join the Open Beta Testnet”.

3. Now submit your details and sign up.

4. Now click on “Create wallet” and create your testnet funding wallet by connecting your wallet.

5. Now mint testnet USDT.

6. Transfer testnet USDT to the funding account.

7. Now, make testnet trades on the platform.

8. Also, verify your account to earn the Open Beta Welcome Rewards campaign. The first 30,000 to verify on GRVT: earn 80 $ZK tokens and 20 Mystery Box raffle tickets.

9. A total of 11% of GRVT’s total token supply has been allocated for the airdrop for the first 18 months after their mainnet launch.

10. For more info regarding the campaign, see this tweet.

11. An additional 2.4M ZK tokens have been allocated to the first 30,000 participants who join the open beta testnet. For more info, see this tweet.

Other News

Transak becomes first US crypto on-ramp to enable wire transfers. Wire transfers in the world’s largest economy could attract more high-net-worth individuals to crypto.

RNDR Bounces 14.2%, Leading Index Higher. The CoinDesk 20 saw a broad rally after its recent plunge, with RNDR up 14.2% and SOL up 8.3%.

Robinhood suspends 24-hour trades for 8 hours. Robinhood’s 24-hour execution venue, Blue Ocean ATS, has its own risk controls to prevent stocks from trading more than 20%.

Kamala Harris Taps Minnesota Governor Tim Walz as Running Mate. Tuesday's move sets up this year's presidential contest against Donald Trump and JD Vance.

🫡 Thanks For Reading

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