4E: ETH rose more than 20% in August, SOL may welcome a gold cross

August 29th news, according to 4E observation, the current number of crypto assets ETP products filed or applied for in the US market has reached 92, showing the continuous exploration of crypto market tools by traditional finance. At the same time, on-chain data shows that the number of bitcoin profitable wallets has exceeded 55 million, setting a record high, with an average holding time of 4.4 years.
At the macro policy level, the US Department of Commerce put GDP data on the chain for the first time, covering nine mainstream public chains such as Bitcoin, Ethereum, and Solana, and distributed them simultaneously through Pyth and Chainlink oracle, marking the further application of blockchain in official data transmission. The price of US short-term Treasury bonds was pressured by strong economic data, and the market expected the Federal Reserve to cut interest rates in September.
In terms of market conditions, Solana has a gold cross pattern. Analysts pointed out that its trend may be similar to 2021 and 2023, triggering the potential of more than 10 times increase. At the same time, institutions such as Galaxy Digital plan to raise $1 billion for the Solana fund to provide financial support for further price increases. Ethereum has risen by 20.6% so far in August. If it maintains its current level, it will record the fourth positive gain in August in history. In contrast, Bitcoin has fallen by 4.58%, or recorded a negative return in August for the fourth consecutive year.
Analysts believe that funds are gradually transferring from BTC to ETH and high Beta counterfeit products, and the probability of the market entering the counterfeit products season is increasing. 4E reminds investors: institutional layout and capital rotation have accelerated the market rhythm, but short-term volatility risks still exist, investors should pay attention to macro data and on-chain signals, and reasonably grasp the rhythm of positions.