The cryptocurrency market is moving at full speed. Bitcoin (BTC) reached an all-time high of $99,261.30 earlier today. The global cryptocurrency market cap also rose by 4.6% in the past 24 hours, reaching $3.43 trillion.
After Donald Trump won the 2024 U.S. presidential election, Bitcoin prices repeatedly hit new highs. The recent rebound may have been due to rumors about Trump’s election as the 'cryptocurrency czar.' It is currently unclear who will hold this position. Some speculate that former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, who served during Trump’s first term, may be a candidate.
Ethereum has broken through the daily level resistance; this breakthrough will drive the Ethereum ecosystem's altcoins. Now let’s summarize the Ethereum ecosystem's altcoins.
ETH layer2:
ARB, OP, ZK, STRK, METIS, MANTA, CELO.MNT, MATIC, IMX, SKL, LRC, CTSI, BOBA, COMBO, MODE.
As ETH aims to become the global computer, the responsibility of Layer 2 is to support the prosperity of the ETH ecosystem with high TPS and low GAS. Its importance and value are self-evident.
At the same time, Layer 2 is the highest market cap sector in the ETH ecosystem. Most projects are also typical of recently criticized low circulation and high FDV institutional coins. ARB, OP, STRK, as three of the four kings, all have an FDV exceeding $10 billion.
ETH Staking/Re-Staking:
LDO, SSV, PRL, SD, FXS, ANKR, ETHEI, REZ
LSD protocols mainly refer to the staking services related to nodes that emerged after ETH's Shanghai upgrade transitioned from POW to POS. LD0 is the largest service provider, with the highest TVL in the network, a circulating market cap of $2 billion. SSV is an important infrastructure.
ETH Old School DEFI:
UNI, SUSHI, AAVE, COMP, CRV, MKR, LOTY DEFI should be the most familiar to everyone.
As the biggest innovative sector in the last bull market, the applications of DeFi have permeated all aspects of daily on-chain life. Due to the maturity of DeFi, this cycle is basically based on previous upgrades, and the innovation level is not high enough. ETH memes: PEPE, SHIB, SPX memes are very strong sectors in this round of bull market; holding a small amount is not a problem.
Ethereum rises, altcoins continue to rise; Bitcoin rises, altcoins keep falling. What does this indicate? It indicates that BTC's rise is unrelated to funds within the circle; it is driven by institutions, and institutional funds will not spill over to altcoins. The rise of ETH is the true driving force of funds within the circle, which can lead to the explosion of altcoins!
That said, let’s take a look at the three crypto assets you should pay attention to this weekend.
3 major cryptocurrencies to watch this weekend
1. Solana (SOL)
SOL follows BTC's upward trajectory. This asset reached an all-time high of $262.85 earlier today. SOL is also one of the best-performing cryptocurrencies of 2023. This asset may continue to rise in the coming weeks.
The SOL network has achieved remarkable growth over the past year. Many expect it to eventually surpass the Ethereum network and become the largest blockchain for hosting crypto projects.
2. Ripple's XRP
Last week, XRP broke the $1 mark for the first time since November 2021. This cryptocurrency has experienced several tough years but has recently seen a significant recovery.
If Bitcoin (BTC) maintains momentum, XRP may continue to rise in the coming days. This cryptocurrency has fallen 59.3% from its historical high of $3.40. While BTC and SOL have reached new highs, XRP may take some time to recover its all-time price level.
3. Dogecoin (DOGE)
DOGE is another cryptocurrency that has greatly benefited from Donald Trump's victory in the U.S. presidential election. Elon Musk is one of Trump's biggest supporters and a loyal fan of DOGE. Musk proposed the establishment of a Department of Government Efficiency (DOGE) under Trump's leadership, which the elected president has agreed to.
DOGE is a cryptocurrency that every investor should pay attention to in the coming weeks.
The cryptocurrency circle has always been a process of survival of the fittest, a process of sifting through the sand! If you want to avoid being eliminated, you must make a change!
Every penny you earn is the realization of your understanding of the world; every penny you lose is due to your cognitive shortcomings. The greatest fairness in this world is that when a person's wealth exceeds their understanding, this society will have 100 ways to harvest you!! Until your understanding and wealth match.
Waiting for a bull market is the most exhausting!
But if we wait for it, we will know what it means to reap the rewards after hardship. Everyone must not leave the market; the hard days are about to end, and a raging bull market is coming!
