Gate today's market analysis: ETH performs stronger than BTC, VINE, MDT, and HYPE depeg and surge against the market.

Bitcoin (BTC) is currently fluctuating in the range of 115,000-119,000, receiving support at the lower band of the Bollinger Bands on the 4H chart. The short-term market may still primarily be characterized by fluctuations, with BTC's market share slightly rebounding to 61%. This week, BTC ETF has seen a small net outflow for three consecutive days, although the outflow amounts are relatively small. On July 24, the BTC ETF had a single-day net inflow of 226 million USD, with BlackRock IBIT inflowing 32.5 million USD and Fidelity FBTC inflowing 106 million USD, indicating that institutional funds are continuously increasing their positions in Bitcoin, enhancing their allocation weight to this asset.

Ethereum (ETH) has shown relatively strong performance, currently trading above 3,650 and still in an upward trend overall. Compared to the low point in April this year, ETH has achieved over 100% increase. In terms of capital, BlackRock and several listed companies continue to buy ETH, which is promising for the future. On July 24, ETH ETF saw a net inflow of 231 million USD in a single day, with Fidelity's FETH inflow being 210 million USD.

Altcoins: Mainstream altcoins generally rise, and the market continues to show a strong trend. The fear and greed index indicates that market sentiment remains optimistic but has not reached extreme excitement. In the short term, structural rotation may continue.

Macro: On July 23, the three major U.S. stock indexes closed higher collectively, with the S&P 500 index rising by 0.78% to 6,358.91 points; the Dow Jones index increased by 1.14% to 45,010.29 points; and the Nasdaq index rose by 0.61% to 21,020.02 points. As of July 23, 10:00 AM ( UTC+8, the spot gold price was reported at $3,390 per ounce, with a 24H increase of 0.11%.

Popular Tokens:

VINE Vine (+51.9%, circulating market value 59.9689 million USD)

According to Gate market data, the current price of the VINE token is $0.05959, which has increased by about 51.9% in the last 24 hours. VINE is a token issued by Rus, the founder of the short video platform Vine, based on the Solana blockchain, aimed at commemorating the spirit of unity and creativity. Vine was established in June 2012 and was acquired by Twitter (now X) in October of the same year. It is a free mobile application that allows users to create and share short videos of up to 10 seconds.

Before July 24, the VINE price fluctuated in the range of $0.04 to $0.045 for a long time, with relatively low trading volume. However, with Musk's announcement on social media that "we will re-launch Vine in the form of AI," the VINE price quickly rebounded, briefly breaking through $0.08 and reaching its peak, indicating the market's high interest in the revival of the project.

MDT Measurable Data Token (+104.5%, circulating market cap 20.60 million USD)

According to Gate market data, the current price of MDT token is 0.03412 USD, with an increase of 104.5% in the last 24 hours. Measurable Data Token (MDT) is a blockchain project focused on data control and monetization. The MDT ecosystem creates smart contracts through blockchain technology to ensure individual users can receive their deserved earnings. Its consumer-oriented product RewardMe allows users to earn rewards by contributing data, while MDT only processes aggregated anonymous data to protect user privacy. For enterprises, MDT provides Measurable AI products that leverage blockchain technology to deliver accurate, real-time, and actionable consumer insights.

Recently, MDT has gained attention due to the launch of the new feature RewardMe 2.0, which includes MDT staking and MDT cashback. In addition, the financial report for the second quarter released by MDT shows a 5% quarter-on-quarter increase in revenue, reaching $1.36 million, and the number of users continues to grow. At the same time, there has been a significant influx of funds into the market, with bullish sentiment rising sharply, and prices rapidly climbed, briefly reaching a high of $0.045. This price surge was accompanied by record trading volumes, indicating strong market demand.

HYPER Hyperlane (+28.04%, circulating market cap 92,948,900 USD)

According to Gate market data, the current price of HYPER token is 0.51748 USD, with an increase of about 28.04% in the last 24 hours. Hyperlane is a permissionless inter-blockchain communication protocol designed to enable seamless connectivity and data exchange between different blockchains. It allows developers to build cross-chain applications and provides users with a cross-chain interaction experience without relying on centralized bridges or institutions. HYPER token is used for staking to secure cross-chain communication and serves as a credential for participating in governance and earning rewards.

Previously, the price of HYPER fluctuated narrowly between $0.35 and $0.38, with low and relatively stable trading volume. However, with the upcoming launch of Hyperlane Warp Routes 2.0, the price successfully broke through the long-term consolidation range, accompanied by a significant increase in trading volume. Hyperlane Warp Routes 2.0 (HWR 2.0) will utilize EverclearOrg to achieve the rebalancing of native assets, enabling rapid bridging and crossing over more blockchains, truly realizing effective native asset access. The initial routes of HWR 2.0 are about to open, marking the latest version of the Hyperlane Warp Route, which will make it possible to obtain liquidity from multiple collateral chains with native rebalancing capabilities.