May 15, 2024
[Navigator Chinese Community] released the latest market dynamics analysis. Here are the details:
1) Overall market trend analysis:
In the digital currency market, the price of Bitcoin (BTC) has shown a downward trend. At the same time, other small cryptocurrency projects, often referred to as "altcoins", have also generally experienced price declines. It is worth noting that Bitcoin's mining computing power has been declining for two consecutive months, indicating that mining activities may be decreasing. At present, the shutdown price of Bitcoin has reached 55,000 yuan (WU).
In terms of traditional financial markets, the US stock market has shown an upward trend. Although the US Producer Price Index (PPI) shows that the industrial inflation rate has reached its highest point in a year, indicating that the inflation problem still exists and is difficult to solve, this has not hindered the overall rise of the stock market.
2) Market hot spot focus:
- In the field of Meme Coins, the prices of Ethereum (ETH)-based meme coins such as PEPE, People, Floki Inu and HarryPotter have risen. In particular, People, which is associated with concepts related to the US election, has attracted market attention.
- Newly listed tokens, such as BunnyPark (BB) and REZ, generally suffered a sharp drop. The prices of tokens such as REZ, Omni, Saga, TNSR, and W have almost halved, showing that retail investors are less interested in riskier VC (venture capital) tokens.
- WALD, an AI token in the field of artificial intelligence, has also seen a sharp drop. Starting from July, about 4% of tokens will be unlocked every day, equivalent to about 50 million RMB (WU), which may put further pressure on the market.
The above is the market analysis provided by [Navigator Chinese Community]. Investors should pay close attention to these developments in order to better formulate their investment strategies.
