Trending Cryptocurrency | TRUMP Surges Nearly 25% as SOL Breaks Above $105

Market Overview

On August 28, the broader crypto market extended its rebound. According to CoinMarketCap, total crypto market capitalization stands at around $2.68 trillion, up approximately 0.95% over the past 24 hours. The Crypto Fear & Greed Index has climbed to 81, entering the “Extreme Greed” zone. Total crypto liquidations over the past 24 hours reached approximately $397 million.

At the macro level, the market’s biggest tension is that inflation remains elevated even as risk appetite has shown little sign of cooling. The U.S. PCE Price Index rose 3.7% year over year in July, up from 3.6% in June, while core PCE inflation remained at 3.3%, indicating that the disinflation process has stalled again.

Several Federal Reserve officials have continued to voice concerns about inflation this week. Markets currently price in around a 35% probability of a September rate hike, while the likelihood of further monetary tightening before year-end remains elevated.

The biggest macro catalyst today will be Federal Reserve Chair Kevin Warsh’s first major policy speech at Jackson Hole. Markets will closely watch his views on inflation, the rate-hike path and recent volatility in U.S. Treasury yields. If Warsh reinforces a hawkish stance, Treasury yields and the U.S. dollar could move higher again, creating short-term pressure on crypto assets. Conversely, if he signals caution about further rate hikes, the current rebound in risk assets could gain additional support.

Trending Cryptocurrency Analysis

BTC | Retesting $80,000

According to BTCC data, BTC is trading at approximately $79,640, up around 0.96% over the past 24 hours and 4.24% over the past seven days. Its market capitalization stands at roughly $1.60 trillion, with 24-hour trading volume of approximately $37.87 billion.

BTC strengthened again today, supported on one hand by NVIDIA’s better-than-expected earnings and a rebound in U.S. technology stocks, which improved global risk sentiment. On the other hand, U.S. spot Bitcoin ETFs continue to attract capital, with recent inflows reaching approximately $3.51 billion.

More importantly, Bitcoin’s Coinbase Premium has turned positive for the first time since May, signaling stronger buying demand in the U.S. spot market. The earlier phase of the rally was largely driven by short liquidations, but ETF and spot-market demand are now beginning to replace leveraged flows, making the structure of BTC’s advance relatively more sustainable.

Technically, BTC is testing the key $80,000–$81,000 resistance zone. Above that sits the May high of $82,800, an important level for confirming a further strengthening of the medium-term trend. RSI remains in overbought territory, meaning further short-term upside could be accompanied by increased volatility. Initial downside support is around $78,000, followed by stronger support near $74,000.

Strategy Reference: The key short-term question is whether BTC can turn $80,000 into support. A high-volume breakout above $81,000–$82,800 could open the way toward $84,000–$86,500. If BTC falls back below $78,000, the market is more likely to return to high-level consolidation in the short term.

ETH | Reclaims $2,500 as ETF Flows and Stablecoin Liquidity Improve

ETH is trading at approximately $2,492, up around 0.52% over the past 24 hours and 5.51% over the past seven days. Its market capitalization stands at roughly $301.7 billion, while 24-hour trading volume is approximately $17.58 billion.

Total stablecoin market capitalization has increased by around $4.1 billion over the past two weeks, including a $2.37 billion increase over the past seven days, signaling renewed expansion in available crypto-market liquidity. Meanwhile, U.S. spot Ethereum ETFs have recorded net inflows for eight consecutive trading days, attracting approximately $1.18 billion in total. In addition, around 42.4 million ETH are currently staked, representing roughly 34.7% of total supply and further tightening liquid supply.

Technically, ETH has repeatedly tested the $2,500 level. The first major resistance sits around $2,744, followed by another resistance zone near $2,880. A confirmed breakout above $2,744 could bring the $3,000 psychological level back into focus.

Strategy Reference: The key short-term zone for ETH is $2,430–$2,500. As long as this area holds, the bullish structure remains intact. A high-volume breakout above $2,600 could shift attention toward the $2,740–$2,880 resistance zone. A break below $2,430 would increase the risk of profit-taking from elevated levels.

SOL | Charles Schwab Adds Trading Support, Expanding Institutional Access

SOL is one of the strongest-performing large-cap crypto assets today. It is trading at approximately $106.46, up around 6.11% over the past 24 hours and 18.88% over the past seven days. Its market capitalization stands at roughly $62.69 billion. Twenty-four-hour trading volume has reached approximately $6.68 billion, up around 61% from the previous day, while SOL traded as high as around $110 intraday.

The most direct catalyst for SOL’s rally came from Charles Schwab. Schwab announced that it plans to add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to the Schwab Crypto spot trading platform in the coming months. The platform had previously supported only BTC and ETH.

Following the announcement, all three tokens rallied on stronger volume. SOL briefly gained around 10%, while AVAX and LINK also moved sharply higher. Schwab oversees more than $12 trillion in client assets and has approximately 39 million active brokerage accounts, leading the market to view the expansion as an important signal that SOL is gaining further access to traditional U.S. wealth-management channels.

Technically, $100 has become SOL’s most important support level. Price is now entering a longer-term resistance zone between $105 and $115, with the 50-week EMA around $105 and the 200-week EMA near $111. A decisive breakout above $115 could extend the medium-term upside target toward $120 and potentially higher.

Strategy Reference: The first short-term level to watch is whether SOL can hold $105. A breakout above $110–$115 accompanied by continued volume expansion could bring $120 into focus. If SOL falls back below $100, the breakout momentum would begin to weaken.

TRUMP | Surges Nearly 25% as Korea Blockchain Week Revives Political Meme Trading

TRUMP is today’s standout performer among trending tokens. It is trading at approximately $2.83, up around 24.73% over the past 24 hours, with a market capitalization of roughly $702 million. Twenty-four-hour trading volume, however, has reached approximately $1.05 billion, equivalent to around 150% of its circulating market capitalization, highlighting extremely active short-term turnover.

The most direct catalyst for TRUMP’s rally came from news surrounding its appearance at Korea Blockchain Week. Following the reports, TRUMP moved sharply higher as traders began pricing in additional exposure, event-related catalysts and potential political narratives. At the same time, the broader meme-coin sector has recently regained momentum, with total meme-coin market capitalization rising from approximately $23.4 billion to $30.6 billion in August. As one of the most liquid political meme coins, TRUMP has naturally become a major target for capital rotation.

Technically, TRUMP has rapidly advanced from around $2.25 to near $2.90, making $2.90–$3.00 the most immediate short-term resistance zone. A breakout above $3 could lead the market to retest previous highs around $3.50–$3.60. Initial support is around $2.50, with stronger support between $2.20 and $2.30.

Strategy Reference: TRUMP’s trading volume has already exceeded its circulating market capitalization, making this a classic event-driven, high-volatility setup. If price breaks above $3 while maintaining strong volume, it could extend toward $3.50. A rapid drop below $2.50, however, would raise the risk of a pullback as the event premium fades.

ENA | Gains More Than 10% as VC Unlock Changes and Revenue-Funded Buybacks Drive Repricing

ENA has become one of the most active tokens in the DeFi sector. ENA is trading at approximately $0.1698, up around 10.83% over the past 24 hours, with a market capitalization of roughly $1.63 billion. Twenty-four-hour trading volume has reached approximately $2.39 billion, up more than 320% from the previous day and equivalent to around 147% of circulating market capitalization. The token traded as high as approximately $0.189 intraday.

The most direct catalyst behind ENA’s rally is Ethena’s announced tokenomics reform. The Ethena Foundation has purchased part of the still-locked token allocation held by early seed investors who had previously been consistent sellers of ENA, and plans to end the existing monthly VC unlock schedule, reducing persistent supply-side selling pressure.

Meanwhile, the ENA community is voting on activating a fee switch. Once USDe supply reaches $7.5 billion, 95% of net income generated by Ethena-related businesses would be used for programmatic ENA buybacks, while the remaining 5% would fund ecosystem growth. Following the announcement, the market quickly began reassessing ENA’s future supply-demand structure.

策略参考： 0.19-0.20美元区域目前是ENA最重要的突破区域。若成交量大幅突破0.20美元，则可能延续代币经济学重定价交易。若回落至0.15美元以下，则表明最初由催化剂驱动的上涨行情已进入消化阶段。最重要的中期基本面指标仍然是美元De供应能否回升至75亿美元附近。