'Zombie cryptocurrencies' collectively surged, leading the cryptocurrency market.
Written by: Leek, Foresight News
On the evening of December 3, the cryptocurrency market experienced a wave of 'bilateral'行情.
Firstly, sudden changes in the political situation in South Korea led to negative premiums at its largest cryptocurrency exchange, Upbit, with Bitcoin's price briefly dropping to 60,000 USD, ultimately causing the platform to crash. In other markets, Bitcoin also briefly fell below 94,000 USD, showing a significant correction.
On the other hand, the recently revived altcoin market continues to maintain a strong trend, showing independent行情 on the evening of the 3rd, particularly the collective breakout of some old coins from two cycles ago is particularly noteworthy.
Forbes once published an article listing 'zombie cryptocurrencies' with a market cap of over 1 billion USD, including XRP, EOS, and ADA. Interestingly, these 'zombie cryptocurrencies' collectively surged last night, leading the cryptocurrency market.
According to the latest data from CoinMarketCap, various established cryptocurrency projects such as TRON, Kadena, NEO, and EOS have recorded strong increases, pushing the total market cap of global cryptocurrencies to 3.51 trillion USD, with a 24-hour trading volume exceeding 290 billion USD.
TRON (TRX): Reaches a historic high after six years
TRON, founded by Justin Sun, is performing at the top of the increase list, rising over 70% in 24 hours, with a cumulative weekly increase close to 96%. As of the time of writing, the latest price is 0.37 USD.
The TRON project was founded in 2017 by Justin Sun and is one of the main public chains for USDT use. TRON's historical highest price occurred in January 2018, when its price once broke through 0.30 USD.
After six years, TRX price has set a new historical high again. TRON was once known for its low transaction fees, but as the price of TRX tokens soared, its network fees are now approaching those of the Ethereum mainnet.
IOTA: Founded 9 years ago, it surged nearly 40% last night.
Surprisingly, the second place on the 24-hour increase ranking is an ancient project from 9 years ago, IOTA, which has increased by 39% in 24 hours and over 159% in a week. As of the time of writing, the latest price is 0.56 USD.
The IOTA project was co-founded by David Sønstebø, Serguei Popov, Dominik Schiener, and Sandy Pusz in 2015, all of whom are technical experts.
The core innovation of IOTA lies in its Tangle technology, which differs from traditional blockchain architecture. Tangle is a directed acyclic graph (DAG) designed to improve transaction efficiency by eliminating the need for miner participation, making it particularly suitable for applications like the Internet of Things (IoT) that require high throughput and low cost. Tangle is not a blockchain; in the world of Tangle, there are neither chains, nor blocks, nor miners.
IOTA's historical highest price occurred in December 2017, when IOTA's price once soared to 5.25 USD.
EOS: Goodbye to Yuzu, 1000 RMB is indeed a dream
EOS also appeared on the increase list, rising nearly 31.8% in 24 hours and nearly 86% in a week. As of the time of writing, EOS's latest price is 1.52 USD.
The EOS project was founded in 2017 by Daniel Larimer and Brendan Blumer, aiming to build a high-performance blockchain platform to support large-scale commercial applications. Its features include fast transaction processing capability and high scalability, able to achieve processing speeds of millions of transactions per second, and its zero transaction fee characteristic once attracted numerous developers.
In its development history, EOS once experienced a period of brilliance, when it was referred to as the 'Ethereum killer.' In 2018, its price once reached a high of 22.89 USD. It currently has basically no popularity.
NEO: Weekly increase of 65%
The project 'Antshares' NEO, which also appeared on the increase list from two cycles ago, saw a 24-hour increase of 22% and a weekly increase of 65%. As of the time of writing, the latest price is 23.1 USD.
NEO was founded by Da Hongfei in 2017. The initial goal of NEO was to create a blockchain-based smart economy platform that allows users to create, circulate, and trade digital assets. In 2017, NEO's market cap once surpassed 10 billion USD, and its historical highest price occurred in January 2018, when it broke through 168 USD; it is evident that while NEO has seen a rebound, it is still a considerable distance from its historical high, and the project's popularity has long peaked.
VET: Weekly increase of 74%
VeChain (VET) has seen a 24-hour increase of over 12% and a weekly increase close to 74%. As of the time of writing, the latest price is 0.07 USD.
VeChain, founded in 2015 by Sunny Lu, aims to achieve decentralized supply chain management through blockchain technology, providing end-to-end tracking solutions from production to consumption. By adopting blockchain and IoT technologies, VeChain is also one of the early well-known public chains among the Chinese.
VeChain's historical highest price occurred in April 2021, when the price was close to 0.28 USD. Currently, it seems there is still a considerable distance to break new highs.
