On Thursday (November 28), the US dollar index remained weak at 106.18. Although US data showed rising inflation, the dollar buying has rarely dissipated. Bitcoin sharply rebounded above 96,000 USD, with President-elect Donald Trump’s camp confirming it is forming a Bitcoin army, and a US court overturned the ruling that sanctioned Tornado Cash smart contracts.
BNB system has surged significantly, with two major benefits.
This time, the Japanese meeting mentioned that there will be a major upgrade for BNB in the future, and BNB will definitely experience a significant price increase. Everyone should take it seriously.
There is no further drop possible; among the top 4 cryptocurrencies, only BNB hasn’t seen a significant rise. This drop presents a rare opportunity! Major cryptocurrencies have high stability and small pullbacks, so everyone can start positioning! In past quarters, the destruction fund for BNB was around 500 million USD. With a bull market approaching, a quarterly destruction of 1 billion USD is not exaggerating. Based on an average price of 600 USD, more than 1.5 million coins can still be destroyed quarterly, which amounts to 6 million coins annually, resulting in an annualized deflation rate of 4%.
Secondly, there is new mining. Previously, when BNB was around 300 USD, I could achieve a mining yield of 2-3%. Now that the price of BNB has increased, mining yields have decreased somewhat, averaging around 1% per instance. Therefore, the quarterly new mining yield is about 2.5%. Without considering reinvestment, the annualized yield is 30%, which is quite high.
Secondly, there are wealth management and other activities. For example, currently, BNB's fixed-term wealth management has an annualized return of 1-2%, and there are sometimes other activities. For instance, I participated in an activity to earn airdrops by depositing in fixed terms, which should also yield some tokens.
In summary, various activities with BNB can achieve an annualized return rate of about 35% in terms of coin-based returns.
Also, regarding the status of the BSC chain, BNB is not only a platform coin but also a public chain token. BSC is currently in a position comparable to the third in public chains, which is quite valuable. After CZ's release from prison, he plans to revitalize BSC, which is a direct benefit to BNB.
ETH ecosystem projects are surging, igniting ENS.
ETH has surged to a new high in 5 months, and its recent performance has been very strong. From the daily chart, it looks like a large bullish candle, with short upper and lower shadows, but the price fluctuation of this day exceeded 11%, and the trading volume was significantly higher than the previous day.
This indicates that after some adjustments, ETH has started its upward journey again. Looking at the MA30 line, it has been moving upwards, indicating that the trend is upward. The MACD also shows increasing upward strength above the zero axis. As we mentioned yesterday, ETH will definitely continue to rise after the adjustment. Now it seems we were right, ETH has started to catch up, and even funds from US stock ETFs are buying in large amounts.
Currently, ETH has reached a pressure position on the hourly level, and a small-level pullback is needed. The cream analysis suggests it could reach the range of 3450-3420, which is a good position to enter a long position. After reaching this position, it will start to rebound, and the next target will be to surge towards around 3800.
The Ethereum domain ENS is a token favored by Vitalik Buterin, and it is closely related to ETH. After ETH started to catch up, ENS began to accelerate its rise, with trading volume skyrocketing, and ENS even topped the Binance gainers list! I remember when I wrote about it before, the trading volume was just over 40 million USD, and within a week it surged by 43.6%!
Initially, I suggested that everyone could buy in and lay low around 17, and then after a month of volatile movement, ENS began to surge, reaching a high of around 37, perfectly hitting the target of 35. ENS is a decentralized domain name system built on the Ethereum blockchain. It aims to solve some issues with traditional domain name systems, allowing domain owners to have complete control and privacy protection.
ENS token serves as the token for the ENS system, used to pay for domain registration and transaction fees.