August 9 Market Update: Grayscale Launches SUI, TAO Trust Products

I. Market Trends:
1. BTC has surged strongly, exceeding half of the decline, and weak altcoins have followed suit. The market maintains a wide range of fluctuations, with both bullish and bearish leverages being liquidated. During the fluctuation, BTC's dominance rose to a new high of 58% in this round.
2. U.S stocks soared as recession expectations cooled down.

II. Market Highlights:
1. Public chain TON is listed on Bn, it is the last among the top 10 market value altcoins to be listed on Bn; previous market concerns were that chips were too concentrated which could lead to selling pressure.
2. SUI and TAO surged significantly as Grayscale launched trust products.
3. Public chain ETH followed up with an increase; ecosystem REZ, TIA, ENS etc., also increased in value after BTC and SOL went up first; finally came ETH's turn for an increase - weak coins are catching up but there may be short-term risks in the market trend.
4.Cosmos ecosystem SAGA、SEI、INJ etc., weaker coins caught up as well - all kinds of weak sectors in the market had their turns one by one.