BTC fluctuates at a high level, AURA rises 180 times, small and medium market capitalization coins stir up a craze

From June 3 to June 16, the crypto market continued to fluctuate at a high level, with no systemic warming yet; however, under the impetus of specific themes, small and medium market capitalization tokens performed remarkably. The average rise of the top 500 tokens by market capitalization reached 16.65%, with tokens ranked 301-400 experiencing a rise of over 46%, indicating a clear preference for assets with topical and narrative potential. AURA surged over 180 times, and projects like CONSCIOUS saw transaction volumes increase by over a hundred times, highlighting the resonance effect of volume and price. The overall market shows a structure of "thematic rotation + mainstream stability", with unusual trading volume remaining an important signal for capturing short-term opportunities.

Crypto Market Overview

According to data, from June 3 to 16, the cryptocurrency market maintained a range-bound fluctuation, with the trend leaning towards high-level consolidation, and no obvious signs of warming up have appeared. During this period, BTC once reached as high as 110,000 USDT, with an increase of nearly 4%, and has currently fallen back to about 106,000 USDT, indicating that the market is still in a tug-of-war between bulls and bears.

On a 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, as core PCE stabilized at 2.6%, and it is expected to take until 2027 to return to the target range. At the same time, the downward revision of GDP growth and the upward adjustment of the unemployment rate have heightened market concerns about economic slowdown and delayed interest rate cuts, further suppressing the upward momentum of risk assets.

In terms of geopolitical issues, military conflicts have erupted between Iran and Israel, driving up global risk aversion sentiment, benefiting traditional safe-haven assets like gold. However, this event is not yet sufficient to constitute a decisive driving force for a new round of upward trends; subsequent attention should still be paid to macroeconomic data and the market's strength of support.

On the regulatory front, positive signals have been released in terms of policy. The "GENIUS Stablecoin Act" was smoothly passed in the Senate on June 12 through procedural voting, indicating a structural shift in the regulatory attitude in the United States, with the regulatory path gradually becoming clear, which is expected to alleviate policy uncertainties in the future. The next day, the SEC also announced the formal withdrawal of multiple regulatory proposals related to DeFi and crypto custody, which the market generally views as positive support for the DeFi ecosystem.

Overall, the current cryptocurrency market is in a range of fluctuations and policy games. Although the fundamental support is not yet sufficient, the relaxation of regulations and the improving capital absorption capacity 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 this round of rise and fall data

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

The overall average rise is 16.65%, with tokens ranked 301-400 showing the most outstanding performance, with an average rise of as high as 46.85%, far exceeding other ranges, indicating that some small-cap tokens have gained 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 100 by market capitalization is 8.26%, maintaining a moderate upward trend, indicating that institutional allocation sentiment continues.

Relatively speaking, tokens ranked 201-300 by market capitalization have shown stable performance, with an average rise of 8.23%, slightly lower than other ranges. Overall, the small and mid-cap sector exhibits characteristics of localized bursts, but capital rotation has not fully expanded, and market enthusiasm remains concentrated in certain themes and sectors. The current rebound structure is selective and cannot yet be regarded as a comprehensive warming of sentiment.

rise and fall leaderboard

In the past two weeks, although the overall cryptocurrency market has maintained a pattern of consolidation, capital rotation has been active, and some small-cap tokens have performed particularly well, showing a clear structural differentiation in the market. The top performer on the rise list is AURA, with a price surge of over 18,800% in two weeks, far exceeding other coins, indicating a concentration of extreme speculative capital inflow. AURA is a meme coin deployed on the Solana chain, set to launch on May 30, 2024, focusing on the "aura" concept that became popular on TikTok, emphasizing the combination of social influence and personal charisma. Currently, the project has evolved into a community-driven movement with faith attributes, having high popularity on the X platform, and has become 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-profile assets. The top ten tokens by rise are mostly concentrated in the Meme, AI, and social minting sectors, possessing community heat or speculation space, and have gained funding favor in the short term. Additionally, REKT, VENOM, DAKU, etc., also show a high Beta market, demonstrating strong performance under the capital game structure.

In contrast, the decline list focuses on projects that are losing popularity or have outdated themes, with ZKJ dropping by 83.95%. Others such as KOGE( -56.11%), MASK( -46.97%), and SOS( -45.22%) also saw significant declines, indicating that assets lacking narrative support are under obvious pressure as funds retreat.

Overall, the current market has not shown a systematic warming, but the preference for funds is clear, and tokens with strong themes and active communities still have short-term performance opportunities; while projects without new narratives and lacking liquidity are likely to become heavy targets for sell-offs, with significant characteristics of market differentiation.

market capitalization ranking and rise and fall relationship

To further analyze the structural characteristics of token performance in this round of market trends, this article draws a scatter distribution chart of the top 500 tokens by market capitalization. The horizontal axis represents the market capitalization ranking, with a smaller value indicating a larger market capitalization, and the vertical axis shows the price fluctuations from June 3 to June 16 on a logarithmic scale. Each dot in the chart represents a token, with green indicating a rise and red indicating a fall.

From an overall distribution perspective, about 90% of tokens achieved positive returns, with the rise concentrated in the range of 10% to 80%, reflecting a clear systemic rebound characteristic in this round of market conditions. Among them, AURA rose over 18,000%, showing an extreme upward trend in the chart; PCI also ranks among the top in terms of rise, indicating that some small and medium market capitalization tokens are still the focus of market capital speculation.

In the market capitalization range (, the market capitalization ranking is approximately 100-400), with the distribution being the most concentrated, and generally recording double-digit rises, reflecting that funds are showing a "broad net" strategy, leaning towards allocating assets that have community popularity or strong narrative backgrounds. In contrast, individual assets such as LA and DLC, which have experienced significant declines, often lack topic support or belong to old projects that have been overhyped in the past, recently facing profit-taking by funds or liquidity exhaustion.

As shown above, this round of rebound is not dominated by high market capitalization mainstream coins, but rather presents a structural characteristic of "mainstream coins being stable and small to mid-cap coins being active," with funds favoring targets that have speculative space, community foundation, or innovative mechanisms.

( Top 100 market capitalization leaderboard

In the context of the current market consolidation, the top 100 tokens by market capitalization have maintained relatively stable performance overall. Excluding stablecoins and LSD) liquid staking derivatives(, the top five tokens by rise are SPX) +43.24%###, UNI( +40.52%), FARTCOIN( +32.25%), SKY( +26.64%), and HYPE( +25.23%), indicating that market funds are preferentially focused on mainstream projects with narrative heat, high trading activity, or support from new concepts.

Among them, UNI's rise is particularly eye-catching, benefiting not only from increased governance revenue and enhanced liquidity but also from the smart wallet feature launched by Uniswap Labs. This wallet introduces mechanisms such as one-click exchange, Gas sponsorship, and any token payment, significantly improving the user experience, and is based on the Ethereum EIP-5792 standard, further enhancing its technological advantages under the upcoming Pectra upgrade. This series of innovations has increased user stickiness, strengthened market confidence in the Uniswap ecosystem, and has also become an important support for UNI's strong upward movement in this round.

Although FARTCOIN carries meme attributes, its core revolves around AI dialogue experiments and the "truth terminal" mechanism, combined with community dissemination and interactive gameplay, attracting significant capital attention in a short period and showing obvious high volatility characteristics; while HYPE, as the native token of a certain ecosystem, also exhibits a high Beta structural market performance under the boost of increased platform trading activity and topic popularity.

On the other hand, although the overall market is in a high-level consolidation state, some of the top hundred assets by market capitalization are performing relatively weakly. 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 rises, reflecting that during capital rotation, these types of assets have certain defensive attributes. Even without significant attention, they have not experienced substantial pullbacks.

Overall, in this round of market trends, the tokens that have led in terms of rise mostly exhibit characteristics of liquidity, narrative, and innovative mechanisms. Funds prefer "high popularity, high responsiveness" assets. Defensive tokens, on the other hand, perform steadily in a volatile market, showing a pattern of "structural diffusion + differentiated rotation" in the capital game.

Analysis of the Volume Performance in This Round

( 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 trading 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%, clearly demonstrating that this project has become the market focus in this round of market trends, 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 by more than a hundred times, indicating that short-term funds have actively intervened, reflecting the market's phased attention to its narrative theme. It is worth noting that CONSCIOUS is not an ordinary financial asset, but rather a Web3 project that combines meditation practices with blockchain technology, dedicated to promoting the concept of "Mindfulness" ) Mindfulness ( globally. Its core goal is to build a decentralized ecosystem centered on mental health, breaking through the framework 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 expansion, reflecting a rapid increase in market trading willingness under high topicality or new narrative drives. From the market capitalization distribution, these types of projects are mostly located between the 100th and 400th market capitalization ranks, characterized by moderate size, high volatility, and relatively active liquidity, making them easy targets for short-term speculative trading. A sharp increase in trading volume does not necessarily accompany a sustained rise in price, but it often serves as a precursor to market movements, especially for tokens with community momentum and narrative themes, which have greater trading reference value.

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

( Trading volume change