Analysis of Drivers in the Crypto Market: Bitcoin, Ethereum, BNB, Cardano, etc.
2026-08-07 21:57:02
According to CoinMeta, a report released by 10xResearch analyzes the current drivers of the crypto market. In the case of Bitcoin, vulnerabilities and capital inflows from major exchanges led to selling pressure, while developments between the United States and Qatar regarding Iran/Hormuz increased risk appetite. Regarding Ethereum, proposals for validator reward destruction sparked opposition, but capital inflows and Bitcoin mining accumulation maintained a positive sentiment. On the BNB chain, legal actions surrounding the launch of a certain token and the weakness of VanEck BNB ETF contrasted with large-scale token destructions. As for Cardano, heavy whale investors' accumulation and a 20.8% weekly increase were accompanied by progress in interoperability. Ethena was rated as a top alternative season choice, and confidence was restored with the expansion of USDE integration and whale purchases. In the case of Polkadot, the migration to DOT put pressure on Moonbeam, but it still outperformed the market thanks to strong whale purchases. After the launch of Algorand, quantum signature support was introduced, and infrastructure advancement was strengthened through 160,000 x402 payment transactions. Solana network activity reached record levels, driving a 19.3% weekly increase.
Source:X
This content is for market information only and does not constitute investment advice.
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