Trader Eugene: Halt Trading Stay Away from the Market, Wait for a Clear Case of Mispricing

On August 7th, based on HTX market data, Ethereum exceeded $3700, witnessing a 24-hour increase of 3.91%.

On August 7th, based on HTX market information, MEMEFI witnessed a surge of over 180% within the past 24 hours. It is currently trading at $0.00386 and has a market capitalization of $38.6 million. Previously, on August 6th, Binance announced that it will carry out an automatic liquidation of the MEMEFI U Perpetual Contract at 17:00 (UTC+8) on August 11, 2025. After the liquidation, the aforementioned U Perpetual Contract trading pair will be delisted.

On August 7th, as per Decrypt, Carlos Ramirez, the creator of the classic internet meme "Trollface," declared that he has "no intention" of getting involved in a meme coin based on his own creation and launched on the Solana blockchain. This is because the capitalist nature of the crypto industry would impede artistic expression. Nevertheless, he also excluded the possibility of taking legal action against the token, even though he seemed to have promoted another Troll token earlier this year and on Tuesday of this past week. Carlos Ramirez mentioned that he "frequently" receives token allocation invitations from meme token projects related to Trollface and said: "If I can't sell, the money is of no significance to me; but if I sell, it will cause the market to crash. And truthfully, I don't want to be held accountable for someone else's financial ruin." In the past two weeks, the price of the meme coin Troll has soared by over 1,050%, with its market capitalization rising from $16.1

On August 7th, according to Etherscan data, the daily transaction volume on the Ethereum network yesterday climbed to 1.87 million transactions, nearing the all-time high of 1.96 million transactions set on January 14, 2024. Nansen's Senior Research Analyst, Jake Kenni, stated that this significant increase in transactions was primarily driven by the elevated volume of stablecoins like USDC, Tether, and the decentralized exchange Uniswap. Sara Gherghelas, DappRadar's Senior Analyst, pointed out that the passage of the "GENIUS Act" established a legal framework for U.S. stablecoin operations, thereby enhancing market confidence.

On August 7th, Partner Chris Burniske of Placeholder posted on social media, saying, "The uptrend of the ETH/BTC exchange rate appears to have not come to a halt."

On August 7th, as per Cointelegraph, Matt Hougan, the CIO of Bitwise, declared that institutions and governments are engaged in discussions regarding the incorporation of Bitcoin into their reserves, signifying the nascent stage of exponential demand.