Recently, the cryptocurrency market has shown a significant upward trend, especially with the performance of Ethereum (ETH) being particularly remarkable. From the beginning of July to mid-August, the price of ETH rose from around 2600 USD to over 4700 USD, and this surge has also driven up the prices of other cryptocurrencies, especially in the area of traditional public chain coins.

Meanwhile, the exchange platform token has also shown a strong upward momentum. A European exchange announced the destruction of over 67% of its tokens, which resulted in its token price soaring nearly 150% in one day. Binance's platform token also performed well, breaking its historical high.

However, it is worth noting that during this wave of rising tide, MEME coins have failed to follow the market upward. This may be because MEME coins play a special role throughout the bull market, often accumulating a considerable amount of speculative trading. However, market analysts expect that there may be sudden surges in some strong MEME coins in the later stages.

As the market shows an overall upward trend, investors are beginning to discuss whether a new bull market is on the horizon. However, in the face of such a complex and ever-changing market environment, investors must remain cautious, closely monitor market trends, and implement effective risk management.