12.2 Cryptocurrency Market Analysis 1) Market Trends
1) Market Trends
BTC is fluctuating at a high level. BTC's dominance rate has broken the weekly level, the altcoin season has arrived, with 2017 old coins and ETH-related coins leading the way. The best performers in this round of increase are the 2017 old coins and this year's new meme coins, both of which have the least selling pressure.
US stocks are rising, continuing to reach new highs.
2) Market Highlights:
1. Old coins XRP, HBAR, ADA, ALGO, EOS, IOTA, etc., have risen, generally increasing 4-5 times this month. The US will cancel the capital gains tax for American companies issuing coins, with the best-performing ones included in the Coinbase 50 index. XRP's market value has reached a new high, returning to the top three, and XRP will issue new stablecoins, with meme tokens on the XRPL chain soaring dozens of times.
2. ETH-related CVX, ZRO, USUAL, ENS, etc., have surged, with ETH-related NFTs generally increasing by 30%. ETH ETF inflows have surpassed BTC ETF. USUAL adopts a Ponzi model similar to LUNA, where the larger the TVL, the less unit emission. ZRO has no selling pressure in the first half of 2025.
3. The hype airdrop of on-chain DeFi has seen single tokens increase threefold. HYPE is an on-chain contract exchange with an order book model, deployed on the ARB chain, building its own chain to provide a CEX-like trading experience, developed by a Chinese team. Compared to the main competitor DYDX, HYPE has launched more long-tail asset dog coin contracts. HYPE's market value has reached $10 billion, close to Uniswap. In the same sector, DYDX's market value is $1.2 billion.
4. On-chain dog coin AI.FUN has surged tenfold in three days, reaching a market value of $40 million. AI.FUN is a competitor to Virtual on the BASE chain and is also a launch platform for AI tokens. Last month, AI infrastructure led by Virtual performed better than AI meme coins, similar to how layer 1 public chains perform better than DeFi applications due to higher certainty.
