Bitcoin has undergone a round of adjustments, and the situation is similar to what was discussed yesterday, with a minimum drop to around 93,000. This has made some brothers worry, fearing a crash, and concerned that the bull market might end here. In fact, small-scale corrections are very normal and necessary, so there's no need to be overly afraid.
Bitcoin has confirmed an expanded adjustment level, with a support level at 92,500 on the 4H chart. This support line was mentioned previously, and next we will see if it can maintain fluctuations based on this support or if it will continue to break downward.
The overall trend remains positive. Bitcoin's ETF continues to see inflows of funds, and the interest rate cut cycle is still ongoing. Not to mention, there is another rate cut scheduled for the 18th of next month. For spot investors, it is currently about selecting good quality varieties and holding them firmly, without worrying too much.
Let's talk about contract players. In the last 24 hours, a total of 161,007 people have faced liquidation, with a total liquidation amount reaching 527 million. Although it is currently a bull market, the market does not always rise; while the endpoint price may be high, the process is full of twists and turns. Therefore, cherish life, stay away from contract leverage, and don't stubbornly act as a 'bear'. Shorting has limited profits but high risks of liquidation, so it is unnecessary.
Cardano (ADA): A scalable and sustainable blockchain platform
Cardano is a blockchain platform designed for smart contracts, decentralized financial applications, cryptocurrency tokens, and games. Its native cryptocurrency ADA allows users to store value, make payments, and stake on the network. Cardano uses the Ouroboros proof-of-stake mechanism, which is more energy-efficient compared to proof-of-work models. The blockchain is divided into two layers. The Cardano settlement layer handles transactions, while the Cardano computation layer manages smart contract computations. This framework improves transaction processing, potentially handling up to 1 million transactions per second. Cardano's native token provides secure, low-cost interactions with smart contracts, enhancing blockchain efficiency and scalability.
Sui: A scalable and user-friendly layer one blockchain platform
Sui is a blockchain platform designed for global adoption. It offers a secure and scalable development environment. Sui uses an object-centric data model and Move programming language to address issues on existing blockchains. It focuses on user experience, eliminating common barriers to interacting with blockchains. With features like zkLogin, sponsored transactions, and programmable transaction blocks, Sui makes Web3 applications more accessible and user-friendly.
Aptos (APT): Solving blockchain scalability and high transaction fees
Aptos, abbreviated as APT, is a new layer one blockchain designed to address high transaction fees and network congestion issues found in blockchains like Ethereum. It was developed by Aptos Labs and founded by core contributors of Diem (Meta initiative), utilizing a proof-of-stake consensus mechanism. Aptos emphasizes scalability, with its smart contracts written in the Move programming language, focusing on security and flexibility. It supports a wide range of Web3 applications. Some refer to it as the 'Solana Killer' because it has the potential to solve scalability challenges in the blockchain realm.
