Deep Dive
1. Exchange Listings (Bullish Impact)
Overview:
EUL was added to Bit2Me Wallet’s app and web interface on 19 August, joining five other new assets. This followed its 6 August Coinbase listing, which initially drove a 5.7% price spike (The Daily Hodl).
What this means:
Listings increase liquidity and visibility—Bit2Me serves 500K+ users, while Coinbase’s 110M+ verified accounts create sustained demand. However, trading volume dipped 20% to $2.6M, suggesting initial hype may be cooling.
What to look out for:
EUL’s turnover ratio (0.0129) remains low vs. top 100 coins, indicating room for liquidity growth.
2. Product Growth (Mixed Impact)
Overview:
EulerSwap, its native DEX, surpassed $2B total volume on 11 August. The protocol also deployed zkVerified lending vaults with Keyring Network on 18 August, targeting institutions.
What this means:
Real-world adoption metrics (TVL: $1.5B) support valuation, but EUL’s price (-7.3% weekly) lags product growth. Technicals show bearish divergence—price below 30-day SMA ($10.82) despite RSI at 39.67 (approaching oversold).
3. Market Sentiment Shift (Neutral Impact)
Overview:
EUL’s 24h gain contrasts with Bitcoin (-0.81%) and Ethereum (-1.02%) declines. The Altcoin Season Index rose 58% monthly to 57, signaling capital rotation toward smaller caps.
What this means:
Traders may be pricing in EUL’s DeFi infrastructure bets (modular lending/borrowing) as ETH-based projects regain favor. However, Fear & Greed at 40 (Neutral) suggests limited speculative froth.
Conclusion
EUL’s rally combines strategic exchange listings, measurable protocol growth, and favorable altcoin rotation—though technical resistance near $10.85 (Fibonacci 50% level) could cap short-term upside.
Key watch: Can EulerSwap sustain >$100M daily volume post-incentives to validate its “lending super app” narrative?