Welcome, Crypto enthusiasts!

WIF surges 13% and becomes the 4th biggest meme coin behind PEPE.

In Today’s Blockstreet Journal:

• DogWifHat Goes SkyHigh

• Low Jobs Good For Bitcoin

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

ALT COINS
🐶 DogWifHat Goes SkyHigh 

Word On The Street: Dogwifhat (WIF) saw a notable 13% increase in its price, reaching a high of $1.77 on August 6.

The details:

• This uptick comes after a significant decline, where WIF's price dropped 63% from its peak of $2.89 just two weeks ago.

• Dogwifhat remains the fourth largest memecoin by market capitalization, positioned below Pepe (PEPE).

• From a technical perspective, WIF is forming a V-shaped recovery on the daily chart.

Why it matters: The technical indicators and increased leveraged positions suggest that WIF may continue its upward trajectory, potentially reaching new highs in the near future.

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BITCOIN
🤭 Low Jobs Good For Bitcoin 

Word On The Street: Bitcoin surged past $58,000 during the Wall Street open on August 8, buoyed by encouraging United States unemployment data.

The details:

• US initial jobless claims came in at 233,000, below expectations, contributing to a positive economic outlook.

• Monitoring resource CoinGlass highlighted a significant movement in overhead ask liquidity following the jobless claims report.

• Despite the positive data, traders remained cautious due to recent BTC price fluctuations.

Why it matters: The current state of the crypto market remains dynamic, influenced by both macroeconomic factors and internal liquidity movements.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.05T, a 4.26% increase over the last day.

The total crypto market volume over the last 24 hours is $94.8B, which makes a 1.37% increase. The total volume in DeFi is currently $4.09B, 4.31% of the total crypto market 24-hour volume. The volume of all stable coins is now $87.32B, which is 92.11% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 56.18%, a decrease of 0.03% over the day.

Global Market Metrics

As of August 8, 2024, the cryptocurrency market exhibits the following key metrics and trends:

- Total Market Capitalization: $2.05 trillion USD

- Total Market Volume: $94.8 billion USD

- Active Cryptocurrencies: 10,077

- Active Market Pairs: 83,149

- Active Exchanges: 797

- Bitcoin Dominance: 56.18%

- Ethereum Dominance: 14.52%

- DeFi Market Capitalization: $57.40 billion USD

- DeFi Volume: $4.09 billion USD

- Stablecoin Market Capitalization: $159.23 billion USD

- Stablecoin Volume: $87.32 billion USD

- Derivatives Volume: $849.79 billion USD

Top Gainers & Losers

🚀 Top Gainers

 💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ KAYEN Airdrip

KAYEN Protocol is running a KAYEN League campaign for its users. Visit the campaign page, complete missions and earn points. The team has confirmed that earning points will make you eligible for their airdrop.

Step-by-Step Guide:

1. Visit the KAYEN League page.

2. Connect your wallet and switch to Chiliz network.

3. Now complete various social tasks from their page.

4. You will earn free points for completing the tasks.

5. Invite your friends to earn 5% of all points from valid users you refer.

6. The team has confirmed that the points will make you eligible for KAYEN airdrop.

Other News

US to establish Bitcoin tax-free zone for digital economy growth. The USABTC policy group proposes a groundbreaking tax-free Digital Economic Zone (DEZ) for Bitcoin to boost the US economy while securing the dollar's global dominance.

Coinbase-Backed Vega Gets Into Prediction-Market Race, Chasing Polymarket. A major upgrade to Vega's blockchain and decentralized perpetuals exchange will allow users to bet on the outcomes of future events.

Blockchain gets down and dirty fighting fraud at California’s DMV. It’s not the world’s first chain-based property transfer protocol, but it could be one of the most impactful, given its scale and prominence.

FTX, Alameda Ordered to Pay $12.7B to Creditors by U.S. Judge. The order doesn't include civil penalties but bans FTX and its sister concern, Alameda, formerly a heavyweight crypto market maker, from trading digital assets and acting as intermediaries in the market.

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