Crypto recap 8.07: $BTC -3.2%, fear at 20, and 3 scams in a day

Market

Majors are red across the board. $BTC - $62,104 (-3.2%), $ETH - $1,733 (-4.26%), $SOL - $77.1 (-6.76%). Only $TON is holding: $1.60 and +0.95%. Total market cap fell 2.8% to $2.23 trillion, BTC dominance - 55.93%.

The Fear and Greed Index shows 20 - Extreme Fear. But funding rates for BTC (0.0091) and ETH (0.0046) remain positive - longs are paying shorts even amid the panic. Only SOL turned negative (-0.0014). A classic divergence: the crowd is scared, but derivatives remain overheated. Stablecoins hold $309.6 billion - the cushion isn't melting.

Meanwhile, our degen index remains at 83 out of 100 - the altcoin dumpster is living its own life, regardless of what's happening with the majors.

What the team found

Over the past 24 hours, the team scanned 569 tokens. Today's haul is mostly junk:

• $LAB: FDV of $6 billion with liquidity of $173 thousand - SCAM 2/10
• $TAC crashed 94% in 24 hours: LP is not locked at all - SCAM 2/10
• $LEVI is down 60% in 24 hours on $10.9M volume - SKIP 3/10
• $CZ is crashing 41% in 24 hours: FDV inflated 47x - SKIP 3/10
• $ANSEM is crashing 29%: one wallet holds 58% - SKIP 3/10
• $Cupsey: +1683% in 24 hours and already -22% in the past hour - SKIP 4/10
• $CASHCAT surged 891% with FDV at 56x - SKIP 4/10

Separately in DeFi: $CVX loses 65% of its TVL, Convex shrinks to $166M. Plus a macro breakdown on why a fear level of 20 doesn't mean capitulation.

What to watch tomorrow

If funding rates for BTC and ETH remain positive amid continued price declines, it signals that deleveraging isn't over yet. A degen index of 83 suggests altcoins still have room to fall further. We're watching whether stablecoins hold the $300 billion mark - an indicator of whether money will return to the market.