Gate Research: Monthly Review - August 2024

10/8/2024, 8:14:17 AM
Gate Research Monthly Review: The crypto market performed weakly in August. Bitcoin plummeted from $66,000 to $49,000, then rallied to $64,000 by month's end before pulling back. Global financial markets saw intense volatility due to macroeconomic factors, pushing BTC futures liquidations to a yearly peak. BTC and ETH ETFs both experienced net outflows, while blockchain network activity ramped up—notably, Aptos' trading volume skyrocketed. The DeFi sector weathered multiple security breaches, incurring losses over $5.28 million. On the funding front, 88 projects secured financing totaling $80 million, with CeFi and DeFi emerging as standout sectors.

Table of Contents

01 Market Overview














02 On-chain Metrics














03 Fundraising



04 Market Highlights






05 Security Incidents





REFERENCES


Gate Research Report Release: Monthly Market Review - August 2024

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Crypto Calendar

Project Updates
Pixel Heroes Adventure will launch on August 13 with CROSS, allowing users to log in to the PHA DApp using the CROSS Wallet.
CROSS
2025-08-13
Protocol 23 Testnet
"Testnet reset + stable builds available"
XLM
-3.18%
2025-08-13
Hackathon
Saga, in collaboration with KEX, will host an AI Agent Buildathon and networking event on August 14 during EthGlobal NYC. Participants will use KEX tools to build their own AI agents and compete for prizes, with selected projects gaining the opportunity to be showcased at Gamescom. Attendance is limited, and registration is now open.
SAGA
12%
2025-08-13
Testnet Reset
Stellar has announced key dates for Protocol 23. On August 14, the testnet will be reset, clearing all accounts, assets, and contracts. Developers are advised to back up and recreate essential data. Stable builds will also be available on that date. A vote on the mainnet upgrade is scheduled for September 3. All Stellar software, including Core, RPC, Horizon, and SDKs, must be upgraded after the reset, regardless of July updates. This reset lies outside the typical protocol upgrade process and is prompted by essential changes to Stellar Core.
XLM
-3.18%
2025-08-13
Community Call
Lido DAO will hold a community call on August 14 at 14:00 UTC. The agenda includes discussion of the protocol’s roadmap, strategic priorities, financial overview and initiatives aimed at enhancing the long-term alignment of the LDO token with protocol performance.
LDO
-5.66%
2025-08-13

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