Gate Research: August Crypto Market Review

Key Takeaways

• Crypto Market Performance: In August, the total crypto market capitalization briefly surged to $4.3 trillion before retreating, indicating profit-taking and capital outflows at higher levels. Overall sentiment turned cautious, with investors largely waiting for the outcome of expected interest rate cuts.

• Major Public Chain Data Analysis: Solana maintained its leading position among major blockchains with over 29 billion monthly transactions. Ethereum also showed strong on-chain activity, recording 51.77 million transactions—marking a new four-year high for the second consecutive month.

• Trending Project Developments: Aave Labs has launched Horizon, an institutional-grade platform that supports using tokenized RWAs as collateral for stablecoin lending, strengthening its presence in the institutional finance market. The Aave protocol’s TVL has surpassed $41.1 billion, and with $28.9 billion in outstanding loans, its total capital scale exceeds $70 billion, further solidifying its position as a global DeFi leader.

• Fundraising and Security Events: Web3 fundraising in August was led by CeFi, followed by infrastructure projects, while application-layer projects lagged. CeFi raised $1.3 billion, with blockchain services and DeFi attracting $240 million and $202 million respectively—significantly outpacing other sectors.

Disclaimer
Investing in the cryptocurrency market involves high risk. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such investment decisions.