May 21, 2024 [Crypto Navigator Chinese Community]

1) Market trend:

Bitcoin broke through $70,000, approaching its all-time high. Ethereum led the rise, driving altcoins to rise across the board.

U.S. stocks rose, hitting a record high, and the U.S. dollar index fell on a weekly basis.

2) Market hot spots:

1. Ethereum rose sharply. The U.S. SEC requires accelerated updates to Ethereum ETF application documents, with the probability of passing increased from 25% to 75%, and the deadline for several ETFs to pass extended from May 23 to August 7.

2. The Ethereum pledge sector performed well, including Pendle, ETHFI, Rez, Lido (LDO), Ena, meme coins Pepe, Mog, Layer 2's Metis, and domain name ENS, all of which rose more than Ethereum. Ethereum rose, and the TVL (total locked volume) of the pledge protocol increased directly.

3. Pyth and Bonk of the Solana ecosystem rose sharply, and the large amount of oracle Pyth was unlocked.

4. The price of Bitcoin Runecoin surged. The founder of Runecoin threatened to commit seppuku on live broadcast due to the poor performance of the project, which attracted market attention.