Gate Research Institute: BTC is consolidating at a high level, BONK has risen over 56%, and the rotation of small and medium market capitalization is heating up.

Overview

Gate Research Institute has analyzed and organized the market dynamics and popular airdrop projects from June 24 to July 7, 2025. During this period, the cryptocurrency market experienced sustained high-level fluctuations. Although the overall sentiment has not fully warmed up, mid- and small-cap tokens demonstrated impressive performance driven by specific themes. Projects like BONK and REKT showed resonance in price and trading volume, highlighting characteristics of active short-term capital speculation; while some tokens, despite increased volume, experienced stagnation, reflecting the market's divergent expectations for their future performance. The overall market presents a structural pattern of "theme rotation and mainstream stability," where unusual trading volume remains an important signal for capturing short-term opportunities.

In this context, multiple potential projects are simultaneously launching airdrop activities, including Altius (an emerging data intelligence protocol), Camp Network (modular blockchain infrastructure), ChainOpera (an AI-driven on-chain interaction platform), and Sapien (an on-chain identity and social credit platform), all of which have opened up entry points for task participation. This article will briefly introduce the characteristics of these projects and how to participate, assisting users in seizing the airdrop benefits during the market rebound period and opportunities for mid- to long-term layout.

Cryptocurrency Market Overview

According to CoinGecko data, from June 24 to July 7, 2025, the cryptocurrency market remained in a range-bound fluctuation, leaning towards a high-level consolidation. During this period, BTC briefly reached a high of 110,307 USDT, with an increase of nearly 4% in the range, and has currently retraced to around 108,900 USDT, indicating that the market is still in a tug-of-war between bulls and bears.【 1 】

On a macro level, Federal Reserve Chairman Powell did not rule out the possibility of a rate cut in July during his recent speech, stating that if it weren't for the recent tariff increases, the Fed might have already started cutting rates; he also pointed out that the new round of tariffs is expected to put pressure on future inflation. The market interpreted this as a slightly more flexible attitude from the Fed, leading to a short-term warming of risk appetite.

In addition, the U.S. Senate passed the key procedural motion for the "Big and Beautiful" bill by a vote of 51 to 49, which was officially signed into law by President Trump on July 4. This bill continues the tax-cutting policies of 2017 and introduces new tax-deductible items such as tips and auto loans, while significantly increasing defense and border spending. In the short term, it is expected to boost corporate profits and household incomes, enhance the stock market and the sentiment towards risk assets, thereby driving funds back into mainstream cryptocurrencies like BTC and ETH; however, the resulting expansion of the fiscal deficit and inflationary pressures may also raise concerns about tightening policies in the future.

In terms of regulation, the U.S. "GENIUS Stablecoin Act" has smoothly passed procedural review in the Senate, and the House of Representatives is also accelerating its pace. Republican leaders recently announced that the week of July 14 will be designated as "Cryptocurrency Week," and they plan to hold a concentrated vote on three key digital asset bills, including: the "GENIUS Act," the "CLARITY Act," and related bills opposing the introduction of Central Bank Digital Currency (CBDC). This series of legislative actions indicates that the U.S. Congress is establishing a regulatory framework for digital assets in a more systematic way, providing a clear compliance pathway for stablecoins, trading platforms, and innovative products.

Overall, the crypto market is currently in a transitional period where regulation is gradually becoming clearer and policies are being released intensively. Capital sentiment remains cautious and observant, but structural benefits are continuously accumulating. With the Federal Reserve's attitude becoming more flexible, the legislation of "Crypto Week" approaching, and the continued promotion of institutional products such as ETFs, the market is expected to welcome a key turning point for sentiment recovery and capital inflow in the second half of the year. In the short term, it is recommended to focus on the legislative progress of the three major crypto bills and the net capital flow changes of mainstream crypto ETFs as important reference indicators for judging market trends.

I. Overview of the current round of price fluctuations data

This article groups and analyzes the top 500 tokens by market capitalization, observing the average increase in different market cap ranges from June 24 to July 7.

Overall, the market presents a structural rotation pattern, with small-cap tokens generally outperforming large assets, and funds clearly favoring high volatility targets. Among them, tokens ranked 301 - 400 in market capitalization have performed the best, with an average increase of nearly 8%, far exceeding other ranges, indicating that funds are concentrated in mid-to-late segment tokens, driving a phase of market outbreak. Next is the market capitalization range of 401 - 500, with an average increase of about 2.7%, also showing stable performance.

In terms of mainstream assets, the average increase of the top 100 tokens by market capitalization is about 2.2%, maintaining a moderate upward trend, indicating that institutions and stable funds still have a basic willingness to allocate. The tokens ranked 201-300 have a similar increase to the top hundred, showing a neutral performance. In contrast, the tokens ranked 101-200 perform the weakest, with an average increase of less than 1%, the lowest among all ranges, indicating a lack of driving themes in this segment, with relatively low attention from funds.

Overall, the current market capital shows a clear preference with significant gains concentrated in specific small to mid-cap ranges, exhibiting characteristics of localized rotation and theme-driven structural rebound. Although there are signs of warming sentiment, it has not yet fully spread.

Note: The market capitalization distribution is based on CoinGecko data, grouping the top 500 tokens by market capitalization into sets of 100 (e.g., ranks 1 – 100, 101 – 200, etc.), and calculating the price fluctuations of tokens within each group from June 24, 2025, to July 7, 2025, and calculating the average for each group as the average increase indicator for that market capitalization range. The overall average increase (3.07%) is the unweighted average of the individual increases of the top 500 tokens.

Figure 1: The overall average increase is 3.07%, with the most notable increase being in tokens ranked 301 – 400 by market capitalization, with an average increase of nearly 8%.

Gate Research Institute: BTC consolidating at a high level, BONK up over 56%, rotation of small and medium market cap heats up

  • Top Gainers and Losers Ranking

In the past two weeks, the cryptocurrency market has generally maintained a volatile consolidation pattern, but capital rotation remains active. Some small-cap tokens have performed particularly well, showing a clear structural differentiation in the market. The top ten tokens in terms of gains are mostly concentrated in Meme, AI, community, or experimental sectors, characterized by high topicality and high volatility, becoming the focus of short-term capital chasing in the market.

Among them, the top gainer is MORI, which has seen its price soar over 558% in the past two weeks, far surpassing other projects, indicating a high concentration of capital inflow. MORI is a meme coin deployed on the Solana chain, and due to its minimalist narrative style and high community enthusiasm, it has formed a unique speculative culture on the X platform in a short period, becoming one of the popular high Beta assets in this round of Solana. Other outstanding projects include OFT (+182.31%, focusing on on-chain fragmented narratives), USELESS (+111.16%, emphasizing an ironic style of meme coins), and PROM (+80.61%, combining NFT and social invitation mechanisms), all of which generally possess strong community attributes and hot topics for speculation.

In addition, the list also includes representative meme coins from Solana such as BONK and PENGU. Among them, BONK has benefited from positive ETF application news and its issuance on the Letsbonk platform has surpassed Pump.fun, with the number of holding addresses exceeding one million, recording an increase of over 56%. Emerging projects like AIC and EUL, which combine AI with the native positioning of public chains, have also shown impressive performance, indicating that the market still maintains a strong preference for high Beta assets.

In contrast, the list of the biggest drop-offs is concentrated on projects that have recently lacked new narratives or have seen a significant decline in popularity, such as SAHARA (-45.66%, a data trading platform built on zero-knowledge privacy protocols that briefly surged in popularity due to the "AI + Data" concept but has seen a significant drop in attention recently), ZBCN (-39.15%), TKX (-37.11%), etc., indicating that in the context of the overall market sentiment not having significantly rebounded, weaker assets are more likely to become the preferred choice for capital withdrawal. Some established tokens like BSV and RVN also appear on the list, showing that their attractiveness is gradually waning under the rotation of new themes.

Overall, the market has not yet entered a systematic reversal phase, but the funding style has clearly shifted towards assets with high volatility, strong narratives, and high community participation. Specific themes still have short-term performance opportunities. Projects that lack liquidity, insufficient popularity, or weak narratives are at risk of being marginalized by the market, and the characteristics of structural differentiation in the market are evident.

Figure 2: The most prominent is the Meme coin MORI on the Solana chain, which has increased by over 550%.

Gate Research Institute: BTC consolidates at high levels, BONK surges over 56%, rotation of small and medium market cap heats up

  • Relationship Between Market Capitalization Ranking and Price Fluctuation

To further analyze the structural characteristics of token performance in this round of market activity, this article presents a scatter plot of the top 500 tokens by market capitalization. The horizontal axis represents the market capitalization ranking (the further left, the larger the market capitalization), while the vertical axis shows the price fluctuation from June 24 to July 7, displayed on a logarithmic scale. Each dot in the figure represents a token, with green indicating an increase and red indicating a decrease.

From an overall distribution perspective, the proportion of rising tokens is about 55%, indicating that although there are signs of a market recovery, a comprehensive rebound has not yet formed, and the overall market still leans towards structural differentiation. The tokens with outstanding performance in price increase are mostly small and medium market cap tokens, particularly those like MORI, OFT, USELESS, and PROM, which are clearly located in the high growth area on the chart, reflecting the market's tendency to focus on projects that are topical, have a strong community foundation, or are trending in speculation. These types of assets typically possess stronger social dissemination power and short-term explosion potential, making it easier to attract attention and concentrate liquidity in a volatile market.

The overall increase in the mid-to-late market capitalization range is relatively stable, indicating that funds tend to rotate and allocate in the small to mid-cap sectors. In contrast, projects such as SAHARA and ZBCN are among those with the largest declines, mainly due to a retreat in popularity or a lack of narrative support, becoming key targets for capital withdrawal.

Overall, the current market trend is not dominated by mainstream assets but exhibits a structural characteristic of "mainstream stability, active small tokens, and significant differentiation." Funds are more inclined to favor small and medium-sized tokens that have community enthusiasm, speculative potential, or innovative mechanisms, while assets lacking liquidity and topic support face greater downward pressure.

Figure 3: More than half of the top 500 tokens by market capitalization have increased, with the growth concentrated in the range of 0 – 50%. Small and medium-sized market cap projects are relatively more active.

Gate Research Institute: BTC consolidating at high levels, BONK rises over 56%, rotation of small and mid-cap stocks heats up

  • Top 100 Market Value Rankings

Against the backdrop of the current market consolidation, the top 100 tokens by market capitalization have maintained relatively robust performance overall. Excluding stablecoins and LSD (Liquid Staking Derivatives), the top five tokens by price increase are BONK (+56.45%), PENGU (+53.77%), XDC (+11.29%), FARTCOIN (+11.11%), and AAVE (+10.93%). These projects often exhibit strong narratives, active communities, or high trading volumes, indicating that funds tend to position themselves in high Beta assets during turbulent markets.

Among them, BONK and PENGU, as representative Meme projects on the Solana chain, not only benefit from macro-positive expectations such as ETFs but also stand out in the market due to their strong community foundation and continuous topic dissemination capabilities; FARTCOIN, although a Meme type, has triggered short-term capital chasing due to its AI interactive gameplay mechanism, exhibiting typical high volatility characteristics. AAVE and XDC demonstrate the resilience of traditional DeFi projects in this cycle, with the former benefiting from continuous upgrades of lending protocols, and the latter gaining momentum from the RWA narrative, along with Credefi and CRYMBO deploying loan and compliance tools on its chain at the end of June, further strengthening its application expectations in the on-chain scenarios of traditional financial assets.

On the other hand, some tokens in the top 100 by market capitalization have recorded significant declines, showing relatively pressured performance. The five tokens with the largest declines are PI (-13.73%), VIRTUAL (-9.41%), TRUMP (-7.20%), SKY (-7.02%), and TAO (-6.86%). Most of these were projects that had seen significant gains earlier and had quickly gained popularity. In the absence of new catalysts, they have entered a consolidation phase, resulting in a certain degree of price correction. Among them, PI and VIRTUAL had attracted market attention in May due to ecological progress and conceptual speculation, but this month, they are facing dual pressures from profit-taking and a drop in sentiment due to the lack of new catalysts, leading to converging trends.

Overall, the top 100 tokens by market capitalization are showing a pattern of "the strong getting stronger and thematic rotation," where projects with clear narratives and trading enthusiasm are more likely to gain market favor, while speculative assets lacking sustained support are prone to corrections, highlighting a trend of structural differentiation in a volatile market.

Figure 4: The tokens with the highest gains among the top 100 by market capitalization are mainly distributed in sectors with high trading activity or narrative heat, reflecting that market funds tend to allocate to mainstream projects that are topical and responsive.

Gate Research Institute: BTC High-Level Consolidation, BONK Rises Over 56%, Small and Medium Market Cap Rotation Heats Up

2. Analysis of the performance of this round of volume increase

  • Volume Growth Analysis

Based on the analysis of token price performance, this article further observes the changes in trading volume of certain tokens during the current market cycle. Using the trading volume before the market started as a baseline, it calculates the trading volume growth multiple as of July 7 to measure the changes in market enthusiasm and trading activity.

Data shows that the trading volume of REKT, ranked outside the top 300 by market capitalization, has increased by more than 20 times. Although the price rebound is relatively mild (+11.03%), it has shown obvious signs of short-term capital speculation. REKT is a meme project that features a minimalist issuance model with no pre-mining, no token distribution, and no private placement. Its core mechanism involves on-chain anonymous token issuance, attracting a large amount of speculative capital due to its high risk and high volatility characteristics. The meme coin BONK in the Solana ecosystem has seen its trading volume increase by over 10 times, with a price rebound of 56%, continuing the strong performance mentioned earlier. This indicates that it remains a highly sought-after trading target driven by community momentum and platform development.

The rest, such as SAFE (+7.64 times), VENOM (+6.12 times), and TON (+5.88 times), also recorded significant increases in volume. Among them, VENOM recorded an almost 40% increase driven by project expansion and community engagement, while TON, despite a noticeable increase in volume, experienced a slight price correction (-2.75%), which may indicate that the influx of funds is more from short-term arbitrage or selling pressure.

From the perspective of market capitalization structure, this round of projects with increased trading volume is mostly concentrated between the 50th and 300th rankings in market capitalization. They tend to have moderate size, high volatility, and active liquidity, making them easy targets for short-term capital attention. While the rapid increase in trading volume may not necessarily be accompanied by sustained price increases, it often indicates heightened market attention, especially among small and medium-sized market cap tokens. Changes in trading volume often have leading significance and can serve as one of the observation signals for short-term market trends.

Figure 5: The trading volume of small and medium market cap tokens like REKT and BONK has significantly increased, indicating a rise in market attention.

Gate Research Institute: BTC is consolidating at a high level, BONK has risen over 56%, and the rotation of small and medium market caps is warming up

  • Volume Changes and Price Analysis

Continuing the observation of the changes in trading volume from the previous section, this article further integrates price performance to plot a scatter diagram of the Volume Increase Multiple and Price Change %. The horizontal axis represents the increase multiple of each token's trading volume compared to the benchmark period over the past two weeks, while the vertical axis shows the price changes during the same period, using a symmetric logarithmic scale to clearly present extreme fluctuations.

Overall, the upper right quadrant has concentrated a group of assets that have received significant attention in this round of market activity, exhibiting typical "volume-price resonance" characteristics. Among them, BONK's trading volume increased more than 10 times, and its price rose by 56%, continuing the strong performance mentioned earlier. Driven by the momentum of the Solana community and the Meme craze, it has become a focal point for capital chasing. VENOM and SAFE are also located in this area, recording increases of 39.66% and 11.02% respectively, reflecting the attractiveness of their narrative themes and relatively robust capital support.

It is worth noting that although REKT's price increase is only about 11%, its trading volume has surged by 15 times, also falling in the upper right quadrant, demonstrating obvious characteristics of short-term capital speculation. As a "no pre-mining, no distribution" minimalist on-chain token project, REKT's performance confirms the market's preference for high volatility and high-risk assets, and indicates that even if its price increase is not as significant as projects like BONK, the drastic changes in volume still possess indicative significance of capital momentum.

In contrast, the lower right quadrant gathers some projects that have "increased volume but have not risen in sync." For example, TON's trading volume has increased nearly sixfold, but the price has slightly corrected (-2.75%), possibly due to the recently launched golden visa program attracting funds for locking, which has driven up the hype. However, due to limited actual buying, the short-term market still faces certain pressure, and its continuity remains to be observed. In addition, the lower left quadrant is filled with assets where trading volume and price fluctuations are both not significant, indicating that the current market still belongs to structural rotation, with funds focusing on individual tokens with thematic or community momentum, and it has not yet fully spread to the overall market.

In summary, the correlation between trading volume fluctuations and price trends remains a key indicator for identifying short-term capital interest and market initiation potential. Especially in small to mid-cap projects, "rapid expansion of trading volume" often precedes price reactions. If accompanied by narratives or community catalysts, it is more likely to attract capital inflows, forming an important reference signal for short-term strategies.

Figure 6: Tokens such as BONK, VENOM, SAFE, and REKT fall into the upper right quadrant, aligning with the "volume-price resonance" logic, representing a significant case of volume increase in this market cycle.

Gate Research Institute: BTC consolidating at high levels, BONK rises over 56%, rotation of small and mid-cap stocks heats up

  • Correlation Analysis

After discussing the direct relationship between the changes in trading volume of tokens and price performance, this article further analyzes the structural relationship between the two from a statistical perspective. To assess whether market liquidity has a systematic impact on price fluctuations, we introduce "Volume / Market Cap" as a relative liquidity indicator and calculate its correlation coefficient with price changes. Through correlation analysis, it helps to identify which tokens in the current market are more susceptible to liquidity movements and whether there is a consistent linkage pattern between volume and price, thereby providing investors with a judgment reference that offers more structural insights.

From the chart, it can be seen that the correlation between the "trading volume / market capitalization" of most tokens and price increase is concentrated between 0.60 and 0.85, indicating that the activity level of funds has a certain impact on price changes. The color of the points in the chart represents the strength of the correlation (red for high, blue for low), while the size of the bubbles is adjusted according to the market capitalization of the tokens, reflecting the differences in their market sizes.

The projects LPT, EUL, MGG, SUN, and VENOM located in the upper left corner of the chart have correlation coefficients generally between 0.82 and 0.85, and the bubbles are relatively small. This indicates that small to medium market cap tokens tend to experience significant price fluctuations when trading volume is active, demonstrating a typical "volume-price linkage" characteristic, which often makes them a focus for short-term funds.

The tokens on the right side, such as BONK, REKT, STETH, and MANA, although showing slightly lower correlations (mostly in the 0.60 – 0.65 range), have significantly larger market capitalizations and bubble volumes, reflecting their ample liquidity and wide participation of funds. These types of tokens exhibit relatively mild fluctuations, and while the degree of price-volume linkage is lower, they still provide stable support in the overall market.

Overall, this chart reveals the structural characteristics of "theme-driven + market capitalization diffusion": small and medium-sized coins are more likely to experience short-term bursts driven by capital, while large-cap projects attract mainstream funds and maintain relative stability. Investors can use this to identify changes in trading heat and optimize short-term strategies and mid-term allocation directions by combining the correlation between activity and price increases.

Figure 7: Tokens such as LPT, EUL, SUN, and VENOM show a high correlation between volume and price, exhibiting characteristics of concentrated speculative trading; tokens like REKT and STETH, which have larger market capitalizations, demonstrate relatively stable performance.

Gate Research Institute: BTC consolidating at high levels, BONK up over 56%, small and mid-cap rotation heating up

In summary, although the cryptocurrency market has not yet experienced a comprehensive rebound, the characteristics of structural rotation are becoming increasingly evident. Funds are clearly inclined to pursue small and medium-cap assets with narrative heat and trading activity. Changes in trading volume and thematic catalysts are becoming key references for identifying short-term trading opportunities and capital momentum in the current market.

In addition to the active performance of the trading market, there are also several potential airdrop projects being advanced simultaneously in this period, covering popular sectors such as data intelligence, modular infrastructure, AI interaction, and on-chain identity. If users can grasp the rhythm, they may be able to make early arrangements during the market fluctuations and obtain potential token gains. Below is a brief overview of the current airdrop tasks worth paying attention to and how to participate.

Airdrop Hot Projects

This article整理了 the airdrop potential projects worth focusing on from June 24 to July 7, 2025, covering multiple active Web3 newcomers such as Altius (emerging data intelligence protocol), Camp Network (modular blockchain infrastructure), ChainOpera (AI-driven on-chain interaction platform), and Sapien (on-chain identity and social credit platform). These projects are generally in the early stages and are attracting user participation through incentive testnets, task systems, AI interactions, and social bindings. Points, badges, and verification mechanisms may become important references for token distribution in the future. Users can continuously accumulate points by registering accounts, binding wallets and social accounts, and participating in daily tasks, thereby locking in potential airdrop qualifications in advance. The following will detail the basic positioning, latest activities, and participation paths of each project to help users keep pace and layout early dividends.

Gate Research Institute: BTC consolidates at high levels, BONK rises over 56%, small and mid-cap rotation heats up

  • Altius

Altius is an emerging data intelligence protocol aimed at on-chain native users, dedicated to building an open and composable data scoring and incentive system. By integrating users' wallet behaviors, on-chain operation records, and social identities, Altius aims to establish a decentralized reputation scoring system (Onchain Reputation Layer) to provide reliable data references for applications such as DeFi, airdrop distribution, and task platforms. 【 2 】

Currently, Altius is offering a limited-time application for the Early Bird role, which is an important identity marker for early supporters and may enjoy exclusive airdrops, whitelist participation eligibility, or platform points incentives in the future.

Participation Method:

  1. Go to the Altius mission page, join the official Discord community, and complete the identity verification.

  2. Bind EVM wallet address with X account and follow the official X account.

  3. Enter the command /register in the #x-wallet-registration channel on Discord to interact with the bot and complete the registration process. After successful registration, you will receive the "Early Bird" identity role.

  • Camp Network

Camp Network is a Web3 project focused on building modular infrastructure, aimed at enhancing the performance scalability and development experience of blockchain networks through a lightweight protocol stack. It adopts a phased incentive testnet mechanism to continuously optimize protocol security and participant activity.

Currently, Camp Network has officially launched the "Incentive Testnet V2 Phase 2 (Act 2)" and has introduced new tasks. Users can earn points by completing tasks, which may be used in the future for airdrops or testnet reward settlements.

Participation Method:

  1. Go to the Camp Network official website, enter the task system (Quests), browse and complete the newly added tasks in "Act 2". Each task will accumulate your contribution.

  2. Stay active by participating in task interactions, completing on-chain operations, and providing feedback on testing suggestions, all of which may be included in incentive points.

  • ChainOpera

ChainOpera is a Web3 project that combines on-chain AI models with incentive mechanisms. Users can earn points by interacting with AI models, submitting quality prompts, completing verification tasks, and more. The platform has currently launched the "Prompt-to-Earn" interactive task initiative and the second season airdrop, giving early participants the chance to receive badges, ranking rewards, and eligibility for future token airdrops. 【 4 】

The platform has currently launched the "Prompt-to-Earn" interactive task event and the second season airdrop. Early participants will have the opportunity to earn badges, ranking rewards, and future token airdrop eligibility.

Participation method:

  1. Go to the ChainOpera official website, connect your wallet and start chatting with AI to enter the "Prompt-to-Earn" task.

  2. Sign in daily to earn points and complete designated verification tasks, such as following the official X account, to unlock various rewards.

  • Sapien

Sapien is a blockchain-based social points platform designed to build users' on-chain identity and reputation system by connecting social accounts and completing tasks. Users can earn points through interactive behaviors, which will be used for airdrops, governance, and growth rewards in the future. Compared to traditional airdrop platforms, Sapien places greater emphasis on user participation and community contribution, leveraging platforms like X, Discord, and Farcaster to create a trustworthy Web3 user network. 【 5 】

The platform has currently launched multiple activities, where users only need to complete simple tasks to earn points, which can be used in the future for reward distribution, airdrop allocation, or platform governance.

Participation method:

  1. Go to the official website, connect your wallet, and create a personal profile.

  2. Complete social integration tasks to earn points, such as connecting your X account and following the official account.

Tip

The airdrop plans and participation methods may be updated at any time. Users are advised to follow the official channels of the above projects for the latest information. At the same time, users should participate cautiously, be aware of the risks, and conduct thorough research before participating. Gate does not guarantee the distribution of subsequent airdrop rewards.

Summary

Looking back at the market cycle from June 24 to July 7, 2025, the overall crypto market maintained a high-level volatility and consolidation pattern. Although there was no systemic warming, under the influence of structural capital rotation and localized themes, some small and mid-cap tokens performed remarkably well, indicating that market enthusiasm has not significantly receded. The average increase of the top 500 tokens by market capitalization was 3.07%, with tokens ranked between 301 and 400 showing the most outstanding performance, with an average increase close to 8%. This reflects that capital still favors assets with topicality, narrative potential, and price elasticity.

From the perspective of trading volume changes, projects such as BONK, REKT, and VENOM have seen significant increases in volume, with some tokens experiencing over a 10-fold growth in trading volume, becoming the focus of short-term market attention, indicating that capital is actively seeking trading targets with explosive potential. The volume-price linkage chart further reveals that projects located in the upper right quadrant generally exhibit the resonant characteristics of "surging trading volume + rising prices," making them likely to attract capital; while some tokens, despite increasing volume, have not seen a corresponding rise in price, reflecting market divergence regarding their future performance.

Overall, the current market still presents a structural pattern of "theme rotation + mainstream stability", with funds seeking gaming space between narrative-driven and high-volatility assets. Volume anomalies remain an important signal for identifying market initiation and judging structural rotation, especially in small and medium-sized assets where they hold greater trading reference value. If the macro environment and regulatory landscape continue to release positive expectations, the market is likely to gradually accumulate momentum amidst fluctuations, laying the foundation for a recovery in the second half of the year.

In addition, the projects tracked in this issue, such as Altius, Camp Network, ChainOpera, and Sapien, cover popular sectors like data intelligence, modular infrastructure, AI interaction, and on-chain identity. The tasks are clear, and the participation paths are straightforward. Most are currently in the testing or early incentive stage, where users can accumulate points by binding wallets, completing tasks, and inviting friends to obtain subsequent airdrops or rewards eligibility. Continuous participation not only helps in acquiring token incentives but also benefits in seizing early Web3 dividends.

Reference:

  1. CoinGecko,

2.Altius,

3.Camp Network,

4.ChainOpera,

5.Sapien,

Gate Research Institute is a comprehensive blockchain and cryptocurrency research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer

Investing in the cryptocurrency market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products they purchase before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.

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