PYTH pumped 48%, CRO big pumped 38%! The 24-hour alts price increase leaderboard reveals the hotspots for funds.

Against the backdrop of improving capital sentiment in the crypto market, multiple altcoins have experienced explosive increases in the past 24 hours, with the Oracle Machine protocol Pyth Network (PYTH) rising by about 48%, and the Cronos ecosystem token (CRO) seeing a big pump of 38%, leading the market in terms of gains.

Behind the driving force of the market is the combination of the U.S. government's data on the blockchain, major financial cooperation plans, and the liquidity rotation effect. This article will analyze the core driving factors and capital flows of this wave of pump, and observe which coins may become the next explosive point.

CRO Pump Momentum: Billion-Level Financial Cooperation Ignites Liquidity

(Source: CryptoSlate)

The strong pump of CRO comes from a tripartite agreement reached by Trump Media Technology Group, Cronos, and Yorkville SPAC. The plan will create a publicly traded financial instrument centered around CRO, involving:

· 1 billion USD CRO allocation

· 200 million USD cash

· 220 million USD warrants

· Additional $5 billion equity financing

According to the disclosure, Cronos will acquire $50 million worth of Trump Media stock, while Trump Media will also acquire CRO for $105 million. This move has triggered a capital rotation within the Cronos ecosystem, pushing up the prices of related Tokens.

In the DeFi space, Cronos' largest decentralized exchange platform VVS Finance (VVS) surged 36% in a single day, with transaction fees and trading volume showing a significant spike in the DefiLlama data. Loaded Lions (LION), linked to the Cronos NFT brand, also rose 11%, similarly benefiting from the expansion of ecosystem liquidity.

PYTH big pump reason: US government data on-chain + new leveraged trading

The rise of PYTH is not due to changes in the internal economic model of the protocol, but rather significant market structure events. The U.S. Department of Commerce has chosen Pyth Network as the official on-chain economic data verification and release platform, with the first batch of datasets including quarterly GDP.

This means that PYTH has become the "official accountant" for data on-chain at the level of the US government, significantly enhancing its authority and demand in the Oracle Machine market.

In addition, a certain CEX exchange launched PYTH margin trading this week, adding leverage and lending functions, forming a liquidity feedback loop between spot and derivatives, further driving prices up.

Other assets that are pumping: VVS, LION, DRIFT

VVS Finance (VVS): As the largest DEX in the Cronos ecosystem, it benefits from the CRO hype, with a single-day pump of 36%.

Loaded Lions (LION): Linked to the Cronos NFT brand, pump 11%.

DRIFT: Related to the activity level of the Solana perpetual contract market, it has risen by 11% in a single day. The new fee mechanism implemented from August 5 provides additional rebates for DRIFT stakers, driving an increase in trading volume and revenue.

Capital Flow Background: Ethereum ETF Inflow Effect

According to data from Farside Investors, recent spot Ethereum (ETH) ETFs have recorded significant net inflows, including the total funds from several issuers on August 21 and the single-day record set earlier this month.

When ETH leads the demand in the primary market, liquidity often spreads along the risk curve towards high Beta assets, driving the rotation of alts. This pattern is highly consistent with the simultaneous rise of PYTH, CRO, VVS, LION, and DRIFT.

Conclusion

In the past 24 hours, the explosive surge of PYTH and CRO has demonstrated the market characteristics of "event-driven + capital rotation". PYTH benefits from the on-chain U.S. government data and the launch of leveraged trading, while CRO is ignited by a multi-billion dollar financial cooperation plan that boosts ecological liquidity.

Against the backdrop of continuous inflows into Ethereum ETF funds, the market for high Beta alts may continue. Investors should keep an eye on on-chain data and major partnership announcements to capture the next wave of potential leading assets. For more real-time market updates and in-depth analysis, please follow the official Gate platform.