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
BTC Digital has postponed its extraordinary general meeting to August 22, 2025. The company previously announced that it will fully embrace Ethereum (ETH) as its core asset and operational foundation, and plans to convert all BTC reserves into ETH. The relevant plans are expected to be discussed and voted on at the shareholders' meeting.
BTC
-2.73%
2025-08-22
Lucy Beta V2 Update
"Update: Lucy Beta V2 receives a major update for greater stability and smoother agent orchestration."
AGI
0.52%
2025-08-22
Tokyo Meetup
NERO Chain will hold a developer-oriented side event in Tokyo on August 23rd, aligned with the WebX Tokyo conference. The agenda includes live demonstrations of decentralized applications, workshops on account abstraction wallet security, on-site quests and an immediate distribution of NERO tokens.
NERO
2025-08-22
Championship
Axie Infinity has launched the Classic Season 10 Offseason, giving players a chance to refine their skills before the next competitive phase. Both Quests and Tower Mode are now live, with the official Season Championship set to begin on August 23. The update also introduces balancing adjustments to enhance gameplay experience.
AXS
-3.72%
2025-08-22
AMA on X
UFO Token will host an AMA on X with pTGC on August 23rd at 15:00 UTC, focusing on the pair’s deflationary strategies within the PulseChain network.
UFO
-4.37%
2025-08-22

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