Gate Today's market analysis: FLR, SAROS, USELESS prices soar, BTC fluctuates in a range.

Bitcoin (BTC) is currently fluctuating in the range of 119,000 to 120,000, with today's (23rd) Asian afternoon report around 118,500 USD. Bitcoin has shown a steady upward trend in the past two days; although there was a short-term pullback, the overall trend remains strong. The short-term moving averages are still rising, and the price is above the moving average system, indicating that the long positions structure has not been broken.

During the upward process of Bitcoin, it was accompanied by increased volume, reflecting that there is certain capital support in the market; however, the recent trading volume has slightly weakened, and attention should be paid to whether the short-term momentum continues. If it can effectively break through 120,500 USD with increased volume, it will further confirm the upward trend; on the contrary, if it falls below 118,800 USD, it may trigger a larger correction.

Ethereum (ETH): In recent days, it has maintained a volatile upward trend, gradually rising along the short-term moving averages, with a stable trend. The price is operating above multiple moving averages, indicating a good bullish structure. The overall trading volume is stable, with no significant increase, and market funds are leaning towards a wait-and-see approach. The MACD has formed a golden cross at a low point, with red bars gradually expanding, indicating a moderate recovery of short-term bullish momentum. Overall, it is still in a slow bull consolidation phase, and attention should be paid to changes in volume and the situation of breaking through previous highs to determine the continuity of the trend.

Altcoins: Mainstream altcoins generally rise, the market continues a strong trend, the fear and greed index rises to 74, sentiment remains optimistic but is not in extreme exuberance, and short-term may continue structural rotation.

Macro: On July 22, the S&P 500 index rose by 0.06%, reporting at 6,309.62 points; the Dow Jones index rose by 0.4%, reporting at 44,502.44 points; the Nasdaq index fell by 0.39%, reporting at 20,892.69 points. As of July 23, 10:30 AM (UTC+8), the spot gold price is temporarily reported at $3,429 per ounce, with a 24H decline of 0.29%.

Popular Tokens

FLR Flare Network (+16.21%, circulating market cap 1.73 billion USD)

According to Gate market data, the FLR token is currently priced at $0.02434, with an increase of about 16.21% in the last 24 hours. Flare Network is a Layer 1 blockchain that supports cross-chain interoperability and data acquisition, with its core mechanisms being the FTSO (Flare Time Series Oracle) and the FAsset bridging system, allowing non-smart contract chain assets (such as XRP, BTC) to enter the EVM ecosystem for DeFi operations, featuring a native cross-chain bridge and an economically secure oracle architecture.

This round of increase may be related to the DeFi protocol Firelight announcing the integration of XRP assets and the launch of the stXRP pegged token. Users can lock XRP on the XRPL, and after verification by Flare's FDC, they can obtain stXRP on Firelight for various DeFi strategies, achieving yield stacking and token appreciation. This process protects peg stability and enhances asset utilization through Flare's multi-layer collateral and Economic Security Service (ESS). After the announcement, the activity on the Flare network significantly increased, driving demand for FLR and strengthening market sentiment. In the short term, attention can be paid to the real usage rate and TVL growth of Flare's cross-chain DeFi scenarios.

SAROS Saros (+14.13%, Market Cap 898 million USD)

According to Gate's market data, the current price of SAROS token is 0.3416 USD, with a 14.13% increase in the last 24 hours. Saros is one of the important decentralized trading platforms in the Solana ecosystem, focusing on low slippage and a high-efficiency on-chain trading experience. Recently, Saros launched the DLMM (Dynamic Liquidity Market Maker) based on the Liquidity Book architecture, achieving concentrated liquidity, flexible pricing, and zero slippage exchanges, reinforcing its differentiated positioning in the high-performance DEX sector.

The recent rise of SAROS is mainly influenced by the integration of the DLMM module into the data dashboards of GeckoTerminal and CoinGecko, allowing users to track its TVL, trading volume, and on-chain activities in real-time, significantly enhancing project exposure and user participation. At the same time, Saros is actively responding to the Solana official call to "rebuild the liquidity layer," strengthening the synergistic effect with the Solana ecosystem. With the recovery of the DeFi sector and the increase in Solana's activity, SAROS, as one of the mainstream infrastructures, is expected to continue benefiting from ecological catalysts in the short term. Future attention can be focused on its TVL growth and the performance of the LP incentive mechanism.

USELESS Useless Coin (+17.42%, Circulating Market Cap 330 Million USD)

According to Gate market data, the current price of the USELESS token is 0.3344 USD, having increased by about 17.42% in the last 24 hours. Useless Coin is a project with community characteristics and an ironic cultural tone, initially attracting attention due to its name "Useless", and then gradually building cross-chain functionality and practical value.

Recently, Useless announced the adoption of Chainlink's CCIP (Cross-Chain Interoperability Protocol) standard, officially upgrading to Cross Chain Token (CCT) and achieving native cross-chain transfer functionality. Currently, USELESS can be freely transferred between the BNB Chain and Solana network via CCIP, with this technology provided by Chainlink for security assurance. This integration not only enhances the accessibility of USELESS in the multi-chain ecosystem but also symbolizes its gradual shift from a "meme attribute" to a project with cross-chain application value. The news sparked a positive market reaction, driving both token trading volume and price upward simultaneously. Future attention can be focused on its real-world applications and partnership expansions in multi-chain scenarios.