WEEX said on Sept. 2 that it has opened zero-fee trading for ECS, CAKE and SNDK. The exchange also rolled out a limited-time campaign for new users tied to deposits and spot trading. Under the terms announced by the platform, eligible users who reach a net deposit of 100 U can receive a 5 USDT reward. After that, users who pick any of the campaign tokens and complete their first spot trade can receive another 5 USDT. The total reward pool for the event is 20,000 USDT. WEEX said the campaign runs from 19:00 on Sept. 1 to 19:00 on Sept. 8, based on UTC+8. The details were released in an announcement cited by Odaily.

Bitcoin held near $78,000 during the Asian session on the last trading day of August even as macro pressure built, with oil prices rising on an escalation in the Iran situation and hawkish remarks from Waller reviving bets on a September rate hike. From its roughly $62,900 close at the end of July, BTC was still up more than 24%, but attention has shifted to the 50-week moving average near $81,000, a level that has historically marked either the end of a bear market or the point where rallies failed and rolled over. Traders cited $76,800 to $77,000 as key support, with downside targets around $75,500 and $74,300 if that band breaks. Resistance is clustered at $78,400, $79,400 to $80,800, while a move back above $82,000 to $83,000 is seen as necessary to reopen upside. Several market commentators flagged historical seasonality and technical signals as reasons for caution in September, while others argued Bitcoin may already be in a “soft bull market.” The report also tracked spot ETF inflows, token unlocks, U.S. equity moves, weakness in crypto-linked stocks and miners, and a packed macro and earnings calendar heading into early September.

Blockworks Research analyst AJC said Pons ($PONS), a token launch platform on Robinhood Chain, ranked 13th among revenue-generating crypto tokens over the past 30 days. Yet its fully diluted valuation-to-revenue multiple stood at just 0.7x, the lowest among the top 15 names in the dataset. The comparison, based on annualized 30-day revenue figures sourced from CoinGecko and DefiLlama, placed PONS far below peers such as Pump.fun-related tokens at 7.7x, Aave at 45.2x, and Chainlink at 212.2x. According to public information cited in the report, the protocol directs about 80% of revenue to buybacks and burns of $PONS. Over the past month and more, the platform has recorded trading volume in the multi-billion-dollar range, while the amount of PONS burned has approached 30% of total supply. Even so, the market has remained cautious on the quality and sustainability of that revenue. Users responding to the post questioned whether wash trading or volume inflation may have boosted the headline numbers, though those claims have not been cross-verified with additional on-chain data.

MarsBit’s Weekly Editor’s Picks for Aug. 22 to Aug. 28 gathers a wide range of market narratives that shaped the week, from U.S. Treasury funding expectations and gold positioning to Ethereum-heavy crypto theses and renewed momentum in altcoins. The digest highlights Wall Street expectations that the Treasury may lean more on short-dated issuance and expanded buybacks, while Goldman Sachs kept its $4,900-per-ounce gold target for end-2026 and noted client positioning for even higher levels. On the crypto side, Arthur Hayes argued that ETH could outperform large-cap peers in a liquidity rebound, while Circle’s valuation debate centered on whether USDC growth can offset falling reserve yields and whether Arc and CPN can deliver durable revenue. MarsBit also pointed to a broad altcoin rebound, Grayscale’s Zcash Trust-to-spot-ETF push, Hyperliquid’s AQAv2 buyback mechanics, Ethena’s supply-side changes for ENA, Galaxy’s crypto-backed credit line, and the risks tied to BitMine’s growing ETH concentration. The package closes with shorter items on Bitcoin, policy signals, institutional commentary, X’s possible crypto trading support, and security-related developments.

DeFi has been one of the most active corners of the crypto rebound as Bitcoin and Ethereum rallied over the past few days, lifting a wide range of altcoins with them. Rather than chasing price alone, the article argues that protocol revenue offers a cleaner way to judge whether a project still has real users and real demand. Using revenue data from Tokenomist and DefiLlama, with revenue defined as protocol income after distributions to supply-side participants such as LPs, the piece reviews top earners across decentralized exchanges, lending markets, and ETH staking. Uniswap led DEX revenue over the past 30 days at $7.18 million, while Solana-based Jupiter, Meteora, and Raydium also ranked high. PancakeSwap on BNB Chain and Aerodrome on Base were highlighted for their own strong income and distinct value-capture models. In lending, World Liberty Financial posted the highest 30-day revenue at $10.47 million, ahead of Aave. In ETH staking, ether.fi and Lido both made the list. A key takeaway is that high revenue does not automatically translate into direct tokenholder returns: some protocols use buybacks and burns, some route income to locked-token holders, and others generate strong protocol income without passing it through in full.

Blockworks Research researcher AJC said PONS ranked No. 13 in crypto market revenue over the past 30 days, yet its FDV-to-revenue multiple stood at just 0.7x, the lowest among the top 15 revenue-generating tokens. The comparison he shared showed CARDS at about 2.8x, PUMP at 7.7x, CAKE at 9.6x, AAVE at 45.2x, HYPE at 168.5x, and LINK at 212.2x. Based on those figures, AJC argued that PONS is trading at a valuation that is notably lower than other high-revenue protocols relative to its revenue base. The comment was published in an Odaily newsflash citing AJC’s post and focused on relative valuation rather than token price moves or broader market direction.

Bitcoin climbed back above $65,000 for the first time since Aug. 10, but the market is still trading under heavy macro pressure as long-dated U.S. Treasury yields surged and kept risk assets on the defensive. Traders are watching the $62,000-$63,000 area as the main support zone, while resistance is clustered around the 50-month exponential moving average near $65,400 and a possible inverse head-and-shoulders neckline. CryptoQuant said Bitcoin’s 30-day apparent spot demand has recovered sharply from negative 206,000 BTC on July 23 to negative 5,000 BTC, putting it close to its first move back into positive territory since Feb. 26. Historically, the firm said, a shift from negative to positive spot demand has been followed by a median 18.1% gain over the next 60 days, with a 78% win rate. VanEck also said Bitcoin may be nearing the end of its correction, though it cautioned that capitulation signals alone have not produced consistent excess returns over 90- and 180-day windows. At the same time, bond-market stress rippled through equities, hitting AI, semiconductors, crypto-linked stocks, miners and Asian chip shares, while investors turned their attention to the Federal Reserve minutes and a closely watched 20-year U.S. Treasury auction.

A market-wide study by Blockworks researcher Carlos found that very few crypto tokens delivered returns better than Bitcoin once they reached meaningful secondary-market scale. Looking at 2,114 tokens that hit at least a $50 million circulating market cap at a month-end between January 2020 and June 2026, the report says only 4.1% outperformed Bitcoin over their respective observation windows. Among tokens with at least 24 months of history, that share fell to 1.7%. The study also points to deep losses across the broader token universe. Median returns from the qualification point were down 97%, and 73% of qualifying tokens eventually suffered a drawdown of 90% or more. Carlos argues that token issuance expanded sharply over the past several years, but liquidity and fundamentals did not keep pace. The result, according to the report, is a market with a widening base of small tokens and a shrinking top tier of large-cap assets. The paper also finds that the 2020-2021 altcoin boom did not persist as a durable pattern. After 2022, high momentum and high volatility were associated with weaker subsequent performance, especially among mid- and small-cap tokens. Long-term winners against Bitcoin were concentrated in exchange tokens such as BNB, OKB, GT, LEO, BGB, WBT and MX, with CAKE the only qualifying DEX token, a group the report says shares one trait: fee income linked to buybacks and burns.