Bitcoin surges and then falls

After the latest CPI data was released, the price of Bitcoin jumped, reaching a high of $59,579. However, the subsequent selling pressure and the poor performance of the US stock market caused Bitcoin to fluctuate and fall. The current price is $56,713, down 1.43% in the past 24 hours.

Ethereum’s trend is similar to Bitcoin’s. After the CPI data was released last night, the price of Ethereum climbed to $3,216, but at the time of writing, it has fallen back to $3,061, down 1.15% in the past 24 hours.

Invest in 4 cryptocurrencies, the bull market may increase 100 times!

1.PEEP

In the bull market in the first half of this year, the most eye-catching one is undoubtedly PEPE. In the current volatile crypto market, PEPE is brewing a possible "outbreak" and trying to replicate the glory of ShibaInu at the end of 2021. However, the recent decline has cast a shadow on this revival. Since last Wednesday, PEPE has retreated 14.80% cumulatively, echoing the weak trend of the overall market.

What is more noteworthy is that investors' enthusiasm for PEPE seems to have cooled down, with trading volume falling by 32.89% in the past 24 hours to only $679 million. However, the potential of PEPE cannot be ignored. If this cycle can help its market value break through the $10 billion mark, the price of PEPE may soar to a new high of $0.000023.

2.OP

Optimism is a low-cost, extremely fast Ethereum secondary blockchain. Its ecosystem is designed to meet the practical needs of developers and users. The Optimism Foundation is a non-profit organization dedicated to the development of the Optimism Collective. OP is its native governance token, mainly used for protocol governance.

Currently, OP is at the bottom of the price. After a sharp drop, the market is expected to fluctuate, but a 387% price increase may not occur this year. It is recommended to follow the fluctuations and increase positions every time the price hits the bottom to maximize the investment portfolio in 2025 with a target price of $7.

3. ENS

ENS has been in the spotlight lately, and despite significant network growth, the price of the Ethereum Name Service (ENS) has dropped 3.4% in the last 24 hours, currently trading at 26.11. This indicates an inconsistency between the price of ENS and its fundamentals. Speculative sentiment, selling pressure, and the overall downward trend in the market have created headwinds for the price of ENS. However, the current price undervaluation and distribution status of ENS tokens suggest that this is a good time to accumulate ENS.

The price of ENS has fallen by 3.4% in the past 24 hours and is now at $26.18. Currently, speculative sentiment dominates the market, making the actual application value of ENS underestimated. Despite this, ENS has added 741 wallet addresses in the past 24 hours, indicating that its network continues to expand. The current market environment may make people look forward to the future of ENS, but careful analysis and rational decision-making are still the key. Pay attention to market trends and understand the development of the ENS network, and perhaps you can also seize this potential opportunity.

4.SSV

SSV is a decentralized protocol that improves the security and reliability of the Ethereum network through secret sharing technology. Its core concept is to divide the validator's private key into multiple shares and distribute them to different nodes. This method effectively prevents single point failures and malicious attacks, ensuring that the validator's private key will not be controlled by a single node, thereby improving the anti-attack ability and stability of the entire network.

Compared with LDO, I am more optimistic about SSV. Both SSV and LDO are close to full circulation, but the market value of SSV is only 3.2, and there is still a lot of room for growth. In addition, SSV has shown strong resistance to market fluctuations. Although LDO, as the leader of Ethereum staking, has a market value four times that of SSV, it is currently facing a lawsuit that it is a security. No matter what the result is, it will be affected in the short term, so now is not the best time to enter the market.

Summarize:

In an ever-changing economic environment, every data point becomes the key to interpreting future trends. The non-farm data that exceeded expectations not only shows the health of the economy, but also provides policymakers with factors that need to be carefully weighed. Let us continue to observe, analyze rationally, and keep up with the pulse of the market.