These coins are going crazy, CKB tripled in one day, STX also rose, so which coin will soar next? Let's take a look at the dark horse coin Merlin!
Smart money is making a move again. Which of RPL, Sol and SSV is the favorite of whales? One coin is about to rise by another 30%, so be prepared to ambush it.
Bitcoin has encountered unexpected negative news frequently, but how should Ethereum operate? Let’s follow Shuqin to find out.
First, let’s take a look at the overall market as usual. There is both good news and very alarming bad news for Bitcoin right now.
The good news is that the bull market in the cryptocurrency world has now been confirmed to have started, please see the picture.
The previous surge in ETF was obviously a false alarm. Although the price rose to 49,000, the trading volume CVD and the open interest OI in the contract market both dropped sharply. This was a divergence between volume and price. A large number of contracts were closed at high points to take profits, which led to a big correction after the ETF in January.
But if you look at the current data, wow, it's really fierce.
OI and CVD are both soaring, with both volume and price rising, so we haven’t seen any signs of decline yet.
How long will this trend last, and where should we escape from the top?
Well, we can find some clues from Wall Street, which is the bad news we are going to talk about today.
According to multiple media reports, Ark Fund, owned by female stock god Cathie Wood, sold a large amount of Coinbase shares worth $35 million yesterday.
You have to know that the size of his stock is very small, not comparable to Bitcoin, so this sale of 35 million is still quite large.
The share price of Coinbase is positively correlated with the trend of Bitcoin, so Cathie Wood's sale of stocks shows that she thinks the cryptocurrency market is at a high point now, which is a good time to sell at a high.
Some people will be scared to death after watching this. But don't worry, Cathie Wood always delivers slowly.
Just like when it came to ETF a few months ago, she started selling Bitcoin when it was at 40,000 in early December. She sold it for a full month and a half, and the price of the currency also soared from 40,000 to 48,000.
Therefore, her current shipment does not mean the end of the market. Bitcoin may take several more weeks before it truly ushers in a second round of larger correction.
So how high can Bitcoin go?
I think the short-term holder profit ratio indicator we talked about in the last issue is a good guide.
At present, it would be more in line with expectations if Bitcoin could rise to around 54,000 to 56,000 in the next few weeks.
Of course, the above is just theory. If there is other breaking news on Wall Street, we will talk about it then.
However, compared to Bitcoin, I think Ethereum has more room for growth.
Because Bitcoin is very close to its previous high of 69,000, but Ethereum still has a lot of room for growth from its previous high of 4,900. If calculated according to the same ratio, Ethereum should be around 3,700.
Especially with the positive impact of the Cancun upgrade and ETF, I think Ethereum will perform better in the future. Shuqin also asked everyone to build a position when Bitcoin broke through 50,000. At that time, Ethereum was only 2,600, and now it has risen quite well.
In addition to Layer 2 such as Ethereum and IMX, Ethereum staking projects such as Lido, RPL and SSV will also benefit from this.
And they have an additional benefit, which is the rise of the new track and re-pledge sector, which is really scary.
For example, the TVL of EigenLayer has increased by another 3 billion from the 4 billion we talked about last week, reaching the terrifying 7 billion mark. It has become the fourth largest project on Ethereum, and is only one step away from the 10 billion TVL of the second and third largest projects. It may become the second largest project on Ethereum in a few weeks. This is simply a myth.
Therefore, after he launches the coin in a few months, Shuqin will definitely invest a large position in it.
What the re-staking section requires is to stake the already staked Ethereum again, so the current staking project is very important. By then, a large amount of Ethereum will be staked, so Lido, RPL and SSV will benefit greatly.
Coupled with the benefits of Ethereum itself, you can really invest in these three coins.
For example, Shuqin led everyone to make the layout as early as the low point in November last year. The spot profit was two or three times, and the contract profit was more than 10 times even after deducting the funding rate, which was very cool.
In addition, we also invested in OP and IMX. At that time, the price of these two coins was even less than one US dollar. Many viewers thought they bought them at a high price. Now, looking back, my goodness, that was definitely the bottom. I think after the bull market in the next two years, IMX will double several times on this basis. This is definitely a 50-fold coin!
Don’t be anxious if you haven’t entered the market before. I see that there are still many coins in the value trough, and their potential is not inferior to IMX just mentioned. Many whales are quietly increasing their holdings. These coins will have the potential to increase by at least 20 to 50 times by next year. Most people don’t even know about it. If you are interested, you can come and have a look.
One year later, let’s witness a miracle, okay!
Okay, let’s continue.
In addition to the re-staking track we just talked about, there are several other coins on the market that are worthy of our attention. Please see the picture.
Solana's current ecosystem can be said to be in its heyday, with TVL growing by more than 60% in the past month, but its coin price is still not as high as the peak of 125 more than a month ago, so I think it still has a lot of room for growth.
We bought this coin at the bottom of 80, and although we have made a lot of floating profits, I think it will at least test the previous high of 126. After all, Bitcoin and Ethereum have broken through, so the fourth one Solana should be soon.
In addition, another emerging industry is the Bitcoin ecosystem.
Its TVL has soared by 300% this week. The reason is that its several Layer 2s are rising, thus attracting a lot of funds and projects.
Therefore, you can pay attention to STX and CKB which have already issued coins, as well as Merlin Chain which is about to issue coins.
Compared with the old CKB and various inscriptions with little practical application, I think STX, the leader of Bitcoin Layer 2, has greater room for future development. After all, Wall Street has entered the Bitcoin market, so they will definitely enhance the functionality of Bitcoin to make more narratives. Therefore, you can pay attention to STX and the upcoming Merlin chain. As for CKB, an old domestic project that has skyrocketed due to speculation in the Year of the Dragon, I think it’s okay.
Compared with the mature Ethereum ecosystem, the Bitcoin ecosystem is just starting out, and these coins have great potential for future growth. However, STX has skyrocketed recently, so don’t rush and wait for it to fall back.
Okay, finally, don’t forget to follow us, let’s achieve financial freedom together in this bull market!
Bye~
