According to BitMart's market report on August 11, the total market value of cryptocurrencies in the past week was 4.06 trillion, up 9.43% from the previous week.

Crypto market dynamics this week

Last week (August 4-10), BTC ETFs saw a net outflow of $812 million. Over the weekend, BTC maintained its strong performance, returning to around $119,500. Its market share is currently reported at 59.5%, indicating that more altcoins have outperformed BTC amid the overall upward trend.

Last week, ETH ETFs saw a net outflow of $152 million, with inflows exceeding $8 billion over the past 10 weeks. ETH continued its upward trajectory, breaking through $4,300 last weekend, and its market share surged to 13%, demonstrating exceptional strength.

This week's popular currencies

Among popular cryptocurrencies, ETH, LINK, XRP, BTC, and SOL all performed well. ETH's price rose 21.9% this week, reaching a high of 4,348.15 USDT. LINK's price rose 33.78%, with a 24-hour trading volume of 66.97 million. SOL and BTC rose 13.28% and 6.84%, respectively, this week. XRP's 24-hour trading volume was 1.8 BUSDT.

U.S. market and hot news

The S&P 500 rose about 2.4% for the week, its best weekly performance since June and nearing its all-time high. The Nasdaq Composite Index rose about 3.9% for the week, setting several new record closing highs. The Dow Jones Industrial Average rose about 1.3%.

The US CPI data for July will be released at 8:30 pm on August 12.

Unlock popular sections and projects

Base Ecosystem

TVL has climbed sharply and user activity has increased significantly. In the Ethereum ecosystem, solutions like Coinbase's Base Layer 2 have seen a 9,000% surge in TVL (total value locked), currently reaching approximately $4.5 billion. This reflects that Base's scalability and low transaction costs have attracted a large amount of liquidity and user participation.

Aptos (APT) will unlock approximately 11.31 million tokens at 8:00 AM Beijing time on August 12, representing 2.20% of the current circulating supply and valued at approximately US$52.1 million.

Avalanche (AVAX) will unlock approximately 1.67 million tokens at 8:00 AM Beijing time on August 15th, representing 0.51% of the current circulating supply and valued at approximately $39.2 million.

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 PM Beijing time on August 16, representing 2.04% of the current circulating supply and valued at approximately $41.9 million.

Risk Warning:

Use of BitMart services is entirely at your own risk. All cryptocurrency investments (including returns) are inherently highly speculative and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

The value of digital currencies may rise or fall, and buying, selling, holding, or trading digital currencies may involve significant risks. You should carefully consider whether trading or holding digital currencies is appropriate for you based on your personal investment objectives, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.