Market trend:
BTC is adjusting, and it is expected that the weekly decline of BTC may continue for about three months. The market tends to be defensive, and the projects with airdrops are leading the rise.
U.S. stocks are near record highs as we head into earnings season.
Market hot spots:
1. Defi's pyth and pendle have soared. Pyth is the oracle of sol, and the pledge rate has reached 30% to get the sol ecosystem airdrop. Pendle is pledged to get the eigenlayer airdrop, with an annualized rate of return exceeding 20%.
2. New currency Manta and Ondo have surged. Manta has a high pledge yield recently. Ondo is in the RWA track and benefits from BN's new contract. Ondo's total market value is 3 billion US dollars, exceeding MKR's 2 billion US dollars.
3. The infrastructure CTSI has surged. CTSI is a decentralized L2 infrastructure. Through L2 optimization rollup, the main network will be upgraded in the near future. It is in the same track as Altlayer, which will be launched on BN. The market hypes shadow stocks.
4. The game RON and karate combat have increased. RON is a public game chain. The game pixel on the chain will soon be airdropped to attract users. There are rumors in the market that RON will be listed on BN. Karate combate is a real-life fighting gambling platform, similar to the previous hamster race.
5. The inscribed brc420 blue box and music box have increased in price. brc420 is going to launch BTC l2, and the market expects airdrops.
Analysis of mainstream coins:
Blur（BLUR）
Blur (BLUR), an Ethereum-based NFT marketplace, has seen its price rise despite unlocking nearly 50 million tokens. Notably, Blur’s (BLUR) monthly token issuance has historically led to significant price increases.
Blur (BLUR) is currently hovering between $0.405 and $0.671. The 10-day moving average is $0.66, while the 100-day moving average is $0.551. The coin has a support level of $0.262, while the resistance levels are $0.794 and $1.059.
The outlook for Blur (BLUR) is positive as the market continues to unlock tokens without adversely affecting the token's price. The future trajectory of Blur (BLUR) will depend on the health of the NFT market and the platform's ability to attract users and new listings. Additionally, releasing more tokens to the market could trigger selling pressure, which could affect the price stability of Blur (BLUR).
Manta Network (MANTA)
Manta Network shares are up 10.09% and now have a market cap of $636.33 million. This positive trajectory is attributed to a key recent announcement from X. The platform took a strategic step by making its first investment to support LayerBank, with a focus on cultivating influence in the Korean community.
The partnership is expected to open up strategic growth avenues and provide expert resources. It also aims to provide advisory support for expansion plans. However, investors should note that Manta Network has outperformed 64% of the top 100 crypto assets over the past year. In addition, Manta Network has firmly established itself in the top three in the Ethereum L2 space.
In the 100 days since its launch, the platform has processed over 8 million on-chain transactions and 529,000 wallet addresses. Currently ranked 26th in the Layer 2 space, MANTA demonstrates clear use cases that position it as a contender for continued success in the cryptocurrency market.
Arweave（AR）
Arweave’s recent market performance shows a slight increase of 1.14% in the past 24 hours. The token’s current price is hovering above the 200-day simple moving average. AR has shown a positive uptrend over the last year, with a 13% increase in price.
Furthermore, Arweave hit an all-time high of $90.68 on November 5, 2021. Conversely, its all-time low was recorded on April 30, 2020 at $0.430141. Since the last cycle low, the coin has experienced a peak of $11.64, showing a significant recovery.
Arweave’s liquidity is noteworthy, especially on the Binance exchange. Subsequently, the token’s positive performance compared to the token sale price indicates a stable trajectory. AR ranks 43rd in the Layer 1 space. Furthermore, Arweave has a circulating supply of 65.45 million and a maximum supply of 66 million.
In the 2024 bull market, after the Bitcoin halving, it is expected to enter a bull market era with all parties surging and all sectors competing. So here are several potential sectors and their leading tokens, which are all worth noting:
Public chain field: SOL, KAS, INJ, and BLUR open the door to wealth for you.
BRC20 section: ORDI, SATS, the leaders of the future financial ecology.
AI track: AGIX, FET, CTXC, in the era of intelligence, wealth will accompany you.
Web3 field: BAT, MASK, GRT, explore the infinite possibilities of the decentralized world.
L2 leading projects: OP, ARB, MATIC, LRC, CELO, METIS, the future of Layer 2 is here.
Blockchain game ecology: FLOW, IMX, WAXP, looking for treasures in the ocean of games.
Metaverse Investment: HIGH, SAND, MANA, immerse yourself in the virtual world and explore new investment opportunities.
NFT track: BULR, OPUL, the unique charm of non-fungible tokens, leading the trend.
Social track: RLY, GAL, CYBER, a new chapter in social media and a gathering place for wealth.
RWA sector: CFG, MPL, TRU, redefining finance, future trends.
New public chain field: APT, SUI, innovators of public chains, leading the future.
POW section: KAS, TAO, DNX, the charm of proof of work is worth your possession.
Bitcoin ecology: STX, RIF, and Bitcoin's surrounding ecology have unlimited potential.
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