BTC fluctuates at a high level, AURA has a big pump of over 180 times, small and medium market capitalization Tokens are stirring up a craze

In the past two weeks, the cryptocurrency market has maintained a high-level oscillation pattern, and no systemic rebound has yet occurred. However, under the drive of specific themes, small and medium-cap tokens have performed remarkably. The average rise of the top 500 tokens by market capitalization reached 16.65%, with those ranked in the 301-400 range experiencing an increase of over 46%, indicating a clear preference for assets with topicality and narrative potential among investors. AURA has surged over 180 times, and projects like CONSCIOUS have seen their trading volume increase by more than a hundred times, highlighting the resonance effect of volume and price. The overall market shows a structure of "theme rotation + mainstream stability," and abnormal trading volume remains an important signal for capturing short-term opportunities.

Crypto Market Overview

According to the data, the cryptocurrency market maintained a range-bound fluctuation from June 3 to June 16, with the trend leaning towards high-level consolidation. BTC once reached a maximum of 110,000 USDT, with a rise of nearly 4%, and has currently retreated to about 106,000 USDT, indicating that the market is still in a tug-of-war between bulls and bears.

On the macro level, the FOMC meeting minutes released by the Federal Reserve at the end of May continued the hawkish tone, with officials remaining vigilant about the inflation outlook. At the same time, the downward revision of GDP growth and the upward adjustment of the unemployment rate have intensified market concerns about economic slowdown and delayed interest rate cuts, suppressing the upward momentum of risk assets.

In terms of geopolitics, military conflicts have erupted between Iran and Israel, driving up global risk aversion. However, this event is not yet sufficient to constitute a decisive driving force for a new round of rising market trends.

On the regulatory front, the policy has released positive signals. The "GENIUS Stablecoin Act" was smoothly passed in a procedural vote in the Senate on June 12, indicating a structural shift in the U.S. regulatory attitude. The SEC also announced the formal withdrawal of multiple regulatory proposals concerning DeFi and crypto custody, which the market generally views as positive support for the DeFi ecosystem.

Overall, the current cryptocurrency market is in a fluctuation phase intertwined with policy games. Although the fundamental support is still insufficient, the easing of regulations and the ability to absorb funds are gradually improving, which may accumulate momentum for the market in the second half of the year. In the short term, it is still necessary to closely monitor the changes in trading volume and the response of macro indicators.

Overview of the Rise and Fall Data in This Round

This article groups and counts the top 500 tokens by market capitalization, observing the average rise across different market capitalization ranges from June 3 to June 16.

The overall average rise is 16.65%, with the tokens ranked 301-400 in market capitalization performing the most outstandingly, achieving an average rise of 46.85%, far exceeding other ranges, indicating that some small-cap tokens have received significant market attention and concentrated capital inflow. Tokens ranked 101-200 and 401-500 also performed well, with average rises of 9.99% and 9.91% respectively, showing relative stability. The rise of mainstream assets in the top hundred by market capitalization is 8.26%, maintaining a moderate upward trend, indicating a continuation of institutional allocation sentiment.

Relatively speaking, Tokens ranked 201-300 by market capitalization have performed steadily, with an average rise of 8.23%, slightly lower than other ranges. Overall, the small and medium market capitalization sector shows characteristics of localized bursts, but the rotation of funds has not been fully widespread, and market enthusiasm remains concentrated in certain themes and sectors. The current rebound structure is selective and cannot yet be seen as a comprehensive warming of sentiment.

Rise and Fall Leaderboard

In the past two weeks, although the overall cryptocurrency market has maintained a fluctuating consolidation pattern, capital has been actively rotating, and some low market capitalization Tokens have performed particularly well, showing obvious structural differentiation in the market. The top performer on the rise list is AURA, which has surged over 18,800% in price within two weeks, far exceeding other coins, indicating extreme speculative capital concentrated inflow. AURA is a Meme coin deployed on the Solana chain, set to launch on May 30, 2024, focusing on the "aura" concept that went viral on TikTok, emphasizing the combination of social influence and personal charisma. Currently, the project has evolved into a community-led movement with faith attributes, gaining high popularity on the X platform, becoming one of the hottest Meme projects in the Solana ecosystem recently.

The rest, such as 0X0(+119.76%), AB(+83.68%), PCI(+76.30%), also recorded significant rises, reflecting the market's strong preference for high volatility and high-topic assets. The top ten rising tokens are mostly concentrated in the fields of Meme, AI, and social minting, which have community popularity or speculation space, attracting funding in the short term. Additionally, assets like REKT, VENOM, and DAKU also show high Beta trends, demonstrating strong performance under the capital game structure.

In contrast, the list of declines is concentrated on projects that have lost popularity or have outdated themes, with ZKJ dropping by 83.95%. Others like KOGE(-56.11%), MASK(-46.97%), and SOS(-45.22%) have also seen significant declines, indicating that assets lacking narrative support are under significant pressure as funds withdraw.

Overall, the current market has not yet shown systematic warming, but the funding preference structure is clear. Tokens with strong thematic appeal and active communities still have short-term performance opportunities; while projects without new narratives and lacking liquidity are likely to become heavy targets for selling, resulting in significant market differentiation.

Top 100 market capitalization风云榜

In the context of the current market consolidation, the top 100 tokens by market capitalization have maintained a relatively stable performance overall. After excluding stablecoins and LSD( liquidity staking derivatives ), the top five tokens with the highest rise are SPX( +43.24% ), UNI( +40.52% ), FARTCOIN( +32.25% ), SKY( +26.64% ), and HYPE( +25.23% ), indicating that market funds are preferentially concentrated in mainstream projects with narrative heat, high trading activity, or supported by new concepts.

Among them, the rise of UNI is particularly eye-catching, benefiting not only from increased governance revenue and enhanced liquidity but also related to Uniswap Labs' launch of the smart wallet feature. This wallet introduces mechanisms such as one-click swaps, Gas sponsorship, and arbitrary Token payments, significantly improving user experience, and is based on the Ethereum EIP-5792 standard, further enhancing its technical advantages under the upcoming Pectra upgrade. This series of innovations has increased user stickiness, strengthened market confidence in the Uniswap ecosystem, and has become an important support for the recent strong upward movement of UNI.

Although FARTCOIN has Meme attributes, its core revolves around AI dialogue experiments and the "truth terminal" mechanism, combining community dissemination and interactive gameplay, which has attracted a large amount of capital attention in a short period of time, showing obvious high volatility characteristics; while HYPE, as the native Token of the Hyperliquid ecosystem, also exhibits high Beta structural market performance under the boost of platform trading activity and topic popularity.

On the other hand, although the overall market is in a high-level consolidation state, some assets among the top hundred by market capitalization are performing relatively weak. The top five declines are LEO(-2.42%), WBT(-0.51%), while others like TKX(+0.55%), NEXO(+0.81%), and FTN(+0.91%) have limited gains, reflecting that during fund rotation, these assets have a certain defensive attribute. Even without significant attention, they have not experienced a substantial pullback.

Overall, in this round of market trends, the tokens that have risen significantly mostly possess characteristics of liquidity, narrative, and mechanism innovation, with funds favoring "high heat, high reaction" assets. Defensive tokens, on the other hand, have shown stable performance in a volatile market, presenting a funding game pattern of "structural diffusion + differentiation rotation."

Trading Volume Growth Analysis

Based on the analysis of Token price performance, this article further observes the changes in trading volume of certain Tokens during this market cycle. Using the trading volume before the market started as a benchmark, the volume growth multiplier up to June 16 is calculated to measure the changes in market heat and trading activity.

Data shows that the Solana Meme Token AURA ranks first with over 1,600 times the trading volume growth, combined with its astonishing rise of over 18,000%, fully demonstrating that this project has become the market focus in this round of market conditions, with high speculation.

Following closely, CONSCIOUS has seen a price drop of about 4.6% in the past 14 days, but its trading volume has increased more than a hundred times, indicating that short-term funds have significantly intervened, reflecting the market's phased attention to its narrative themes. It is worth noting that CONSCIOUS is not an ordinary financial asset, but a Web3 project that combines meditation practices with blockchain technology, dedicated to promoting the concept of "Mindfulness" (Mindfulness) globally. Its core goal is to construct a decentralized ecosystem centered around mental health, breaking through the frameworks of traditional crypto projects, and gradually forming a unique recognition and value proposition in the market through its unique application scenarios and differentiated positioning.

The rest, such as ETHX(+56.17 times), PCI(+36.35 times), and USDY(+26.06 times), also recorded significant volume, reflecting that market trading willingness has rapidly increased under high topic or new narrative drivers. From the perspective of market capitalization distribution, these types of projects are mostly located between the 100th to 400th market capitalization, characterized by moderate size, high volatility, and relatively active liquidity, making them easy targets for short-term speculative trading. The dramatic expansion of trading volume does not necessarily accompany a sustained price increase, but is often a precursor to market movements, especially for tokens with community momentum and narrative themes, which are more valuable for trading reference.

In summary, abnormal trading volume is an important indicator for identifying market heat and structural rotation, especially in small and medium market capitalization tokens, where changes in volume often precede price reactions, making it suitable as one of the monitoring signals for short-term trading.

Volume Changes and Price Analysis

In order to further observe the relationship between changes in trading volume and price trends, this article plots a scatter diagram of the Volume Increase Multiple ( and Price Change % ). The horizontal axis represents the increase in trading volume of each token over the past two weeks compared to the preliminary benchmark date, while the vertical axis shows the price rise and fall during the same period, using a symmetrical logarithmic scale to clearly present extreme changes.

From the chart, it can be observed that most tokens with significant rises are accompanied by a notable increase in trading volume, indicating a rapid market response to narrative themes, short-term trading opportunities, or community enthusiasm. For example, AURA is positioned in the extreme area of the upper right quadrant, with trading volume surging over 1,600 times and a price increase of up to 18,000%, becoming the most representative example of "big pump" in this market phase; projects with medium to low market capitalization such as PCI and RVN also fall into this area, reflecting that in structural rotations, funds tend to concentrate more easily on assets with supportive popularity, forming a resonance of rise and volume.

In contrast, some projects like CONSCIOUS, ETHX, and USDY, although their trading volume has also significantly increased, exceeding 25 times, the price has shown a pullback or even negative returns, indicating that while funds briefly entered the market, there is a lack of sustained buying or support for the upward expectation. This characteristic of "increased volume without price rise" may reflect a phase of speculative trading or an emotional retreat after news-driven events, especially when there is a lack of strong narratives, substantial progress, or community momentum.

In addition, the lower left quadrant gathers a large number of assets with low rise and low volume changes, indicating that although this round of market is driven by structural rises in themes, it has not fully spread to all assets, and non-hot projects outside of mainstream coins are still in a wait-and-see or low liquidity state.

Overall, the interaction of volume and price remains a key reference for identifying capital attention and market expectations in the current market situation. Projects in the upper right quadrant often exhibit characteristics of "hype narrative + volume-price resonance," making it easier to attract chasing funds, while tokens in the lower right or central axis area require further observation to determine if they have the conditions for a launch. Abnormal changes in trading volume, especially in mid to low market capitalization.