After a rebound during the day yesterday, Bitcoin began to fall in the evening and early morning. We have been saying before that Bitcoin is within the normal adjustment fluctuation range and there is no sign of a sharp drop for the time being. You can go long on dips. At present, the upward momentum of the weekly MACD is continuing to weaken and it will take time to adjust. Therefore, don't focus on Bitcoin.
ETH
On the weekly chart of the Bitcoin pair, MACD is oversold and the bottom is starting to turn. Combined with the news of the Ethereum Cancun upgrade, the focus can be placed on Ethereum, and ambush for a weekly rise in the Bitcoin pair.
In terms of cottage
The development of IDO-related tokens $BAKE $LEVER#AUCTIONhas been temporarily shut down, and the development of BRC20-related tokens has also been shut down. The ones that have risen sharply in recent days are $DOT-related tokens, $MOV $ACA, etc. You can still continue to pay attention to some tokens with smaller increases in the L2 defi sector.
As for BRC20, inscriptions are hyped in a small range and in some individual coins. Yesterday, a surge in $ORDI led to a surge in some inscriptions. If $ORDI continues to rise, it will also lead to a rebound in the inscription sector. Otherwise, the inscription sector will be stagnant for a while.
This month, the price of Ethereum has risen slightly by about 15%, which is in stark contrast to the massive 82% increase in SOL over the same period. From a broader perspective, Ethereum has increased by 95% throughout the year. Meanwhile, SOL has experienced an extraordinary surge, exceeding 980%.
MNT
Mantle Network recently integrated Element Market into its network. The move marks a major step forward in the development of decentralized marketplaces within the Ethereum L2 ecosystem.
Furthermore, Mantle Network differentiates transaction execution, data availability, and finality through a modular architecture. In addition, it offers potential benefits such as enhanced security and improved data accessibility inherited from Ethereum. Therefore, it aims to provide cost-effective transactions.
On the other hand, recent market movements indicate an upward trend in the price of Mantle's cryptocurrency. It has surged more than 10% in the past intraday trading, reflecting potential challenges in the near-term supply levels. The revival of bullish momentum after a brief correction signals a possible shift in trend. Notably, this upward trend is marked by a breakout above the recent swing high on the daily chart.
IOTA
IOTA’s ShimmerEVM recently integrated LayerZero into its system, aiming to provide users with cross-chain messaging technology. The collaboration expands ShimmerEVM’s connectivity to various well-known blockchains. As a result, it enhances interoperability within a unified cross-chain ecosystem, as detailed in a statement released by Shimmer.
In addition, the integration of ShimmerEVM and LayerZero's messaging infrastructure broadens the cross-chain communication capabilities of the Shimmer ecosystem. In addition, this development plan aims to establish initial connections with several well-known blockchain networks. These include Ethereum, Polygon, Binance Smart Chain, Optimism, Avalanche, Arbitrum, Fantom and Base. Therefore, it makes it easier to exchange assets and information within the ShimmerEVM ecosystem.
The collaboration between LayerZero and ShimmerEVM follows LayerZero’s recent partnership with Blockdaemon. Separately, it discussed the possible launch of LayerZero tokens in 2024. Notably, this integration marks a step forward in achieving interoperability between various blockchain networks. Likewise, it could reshape the decentralized finance (DeFi) landscape within the ShimmerEVM ecosystem.
SOMETHING
TravelX, which uses blockchain technology to enhance airline retailing capabilities, recently partnered with Mexican airline Viva Aerobus. The collaboration aims to implement a ticket conversion system using the Algorand blockchain.
Moreover, the collaboration coincides with a positive market trend for ALGO, which is characterized by bullish sentiment in price predictions. Also, its Fear & Greed Index currently stands at 65 (Greed). The annual supply inflation rate is 12.49%, with 889.06 million ALGOs created in the past year. The main highlights of Algorand’s performance include a 42% increase in price over the past year. Moreover, its trading price is consistently above its 200-day simple moving average. The percentage of positive trading days in the past 30 days is 67%. Its liquidity is also very strong, which is confirmed by its market capitalization.
CRV
The Curve DAO token has surged over the past year, showcasing some price dynamics. Its price has increased significantly over the past 12 months, up 32%. It is trading above its 200-day simple moving average, indicating a positive momentum trend.
Moreover, there have been 19 positive moves in the past 30 trading days, with a 63% increase in green light days. In addition, CRV has high liquidity, as evidenced by its market capitalization.
CRV’s historical performance reflects volatility. Its highest recorded price was $10.48, dating back to August 15, 2020. Meanwhile, the lowest price was recorded on November 5, 2020, at $0.332060. Following the all-time high, the lowest price hit a cycle low of $0.332060. Similarly, the highest CRV price in the previous cycle reached $6.76.
Currently, sentiment analysis indicates a bullish outlook for Curve DAO tokens. The Fear and Greed Index is 65, indicating that the market sentiment is in a greedy state.
In terms of token supply, CRV has a circulating supply of 1.03 billion and a maximum supply of 3.3 billion. The annual supply inflation rate is 92.84%, and 493.5 million CRV were created last year. Within the space, Curve DAO tokens are ranked 12th in the DeFi space, 3rd in the Yield Farming space, and 26th in the Ethereum (ERC20) token space.
FOREHEAD
Celo is a well-known player in the L1 space and has shown significant market volatility over the past year. During this period, the price surged 83%, a significant increase in value. This surge has placed Celo above the 200-day simple moving average, indicating a continued upward trend in its trading pattern.
Additionally, 22 of the past 30 trading days have been positive, accounting for 73%, reflecting a generally bullish sentiment in the near term. A look at Celo’s price history reveals some interesting details. Likewise, sentiment regarding Celo’s price prediction remains bullish. This is consistent with the Fear and Greed Index of 65, indicating that market sentiment is leaning towards greed. In terms of token metrics, Celo has a circulating supply of 521.56 million CELOs, while the maximum supply is 1 billion CELOs. It is worth noting that the annual supply inflation rate is 10.18%, with 48.19 million CELOs created last year alone. This inflation rate may be an important factor for potential investors to consider.
Wealth Code
In the early stage of the bull market, when the currency I hold has a certain profit, I will withdraw the principal, and when I see a correction and stop falling, I will enter the market again, and repeat this operation until the late stage of the bull market. Not only will the more free chips in hand, the higher the utilization rate of funds will be, but also the harvest will be greater when cashing out at a relatively high point in the bull market.
So for me, the callback is more of an opportunity, which is not just about trading technology, but more about strategy. It is not impossible for ordinary people to counterattack through the cryptocurrency circle, but the premise is that when our own strength and power are insufficient, we must learn to leverage and take advantage of the situation, which requires your wisdom, vision and ability.
We can observe and judge more through details, and try to think about problems from an objective perspective, so that you will not suffer big losses or be fooled. In the cryptocurrency circle, insiders always make money from outsiders, so don't be lucky enough to take shortcuts. When you wake up, you are welcome to contact me at any time. The law of the bull-bear cycle conversion in the cryptocurrency circle will always exist, and I will always focus on this market and will be deeply involved in the cryptocurrency investment field for the rest of my life.
