Cryptocurrency market trends
By the end of the month, it is expected that the prices of four cryptocurrencies will soar by as much as 400%! Although the market may experience a short-term shock, investors holding spot stocks do not need to worry too much. Various signs show that the bull market of cryptocurrencies is coming.
Bitcoin halving effect
After the Bitcoin halving, mining output and circulation will decrease, while market demand will continue to be strong, indicating the potential for price increases. Bitcoin has experienced an 18% adjustment in the early stage, and many altcoins have even adjusted by more than 50%. The market seems to have completed the necessary adjustments. The recent market fluctuations are actually testing investors' determination to hold coins.
Macroeconomic environment
Europe is expected to start cutting interest rates in June, while the U.S. balance sheet reduction program is also being scaled back, paving the way for future U.S. rate cuts.
Large institutional buy signal
Bitcoin spot ETF continues to increase holdings. Click the main leaf to follow the public account: Pepe Soha, free qun BlackRock, Fidelity and other large institutions are also actively buying. Grayscale has reduced management fees, slowed down the outflow of Bitcoin, and the market buying sentiment has gradually heated up. The actions of these large institutions show that they are confident in the arrival of the bull market. However, the bull market will not happen overnight, and we need to have enough patience to wait.
Potential altcoins worth watching
BONK
Driven by the community and Internet craze, Bonk came into being and rose rapidly. Although its rapid growth has raised concerns about long-term stability, Bonk's single-day gains of up to 30% have attracted the attention of many experienced cryptocurrency traders. According to statistics, BONK’s total trading volume has reached approximately US$580 million, especially after Revolut’s listing, its value soared by approximately 30%. According to Coinmarketcap data, Bonk’s trading volume increased by nearly 30% within 24 hours, and market attention increased significantly. This sudden demand has also driven investor interest in the Solana ecosystem, and its price is expected to rise by approximately 22.80% in the future.
LOVE
Celestia's value has grown significantly by 379% since its inception, thanks to its unique focus on data availability. Despite large market fluctuations, TIA can still maintain a value higher than the issue price, proving its unique value. Celestia’s modular approach to blockchain integration enables seamless scaling and deployment of individual networks without the need for a validator set, an innovative technology that has captured the attention of the crypto community. Additionally, the coin’s role in facilitating the aggregation and layer 2 protocols of data publishing and transactions further enhances its utility and growth potential. As of now, the coin is up 4.96% in the past 24 hours and remains above the 200-day simple moving average, showing a good trading trend.
THETA
As a blockchain technology designed for video, AI, and entertainment applications, Theta Network has made a splash with its unique approach. It operates as a "dual network" system, which improves efficiency and scalability. THETA is trading 88.10% above its 200-day simple moving average, showing strong performance compared to historical trends. In addition, Theta Network is about to reach a major milestone with the upcoming completion of the EdgeCloud project. The project aims to revolutionize the way AI models are developed and deployed, democratize cutting-edge AI capabilities, and continues to attract attention from the blockchain and AI communities.
ok
Although Ondo (ONDO) fell by about 9.81% last week, it still managed to gain 10.08% this month. In the past six months, its price has surged by a staggering 2614.20%. After such a significant increase, the price is currently stabilizing. Technical indicators show that momentum is neutral and the token may be oversold. However, if ONDO can break through $1.24, its price is expected to surge further to $1.62. The road ahead for ONDO may be challenging as the market gradually adjusts to the recent growth, but holders will play a vital role in shaping the future of Ondo DAO.
