Good morning, brothers and sisters! Overview of the cryptocurrency market dynamics on December 13, 2024!
1) Market Trends
BTC shows a trend of fluctuating decline, while ETH ETF inflows reach new highs this week. The market tends to favor old coins over new ones, with old altcoins rising and new coins declining.
US stocks are down. US industrial inflation PPI for November exceeded expectations, and the market anticipates a pause in rate cuts in January next year, with potential rate hikes being postponed to March next year.
2) Market Highlights:
1. The public chain ETH is rising, and DeFi projects LINK, AAVE, COW, and LDO are significantly climbing. The Trump family's funds have purchased ETH, LINK, and AAVE through the COW protocol. LDO is a project for which Grayscale has submitted a trust application. This wave of good DeFi project growth is mainly related to US politics and compliance narratives.
2. The payment sector, including AVA and UTK, has risen significantly. AVA is a travel crypto payment platform and is an old coin from 2017. CZ claims to have invested before the pandemic, with an annual revenue of 100 million USD.
3. On-chain AI meme coins GOAT, VIRTUAL, and FARTCOIN are rising. GOAT is listed on OK. On-chain DeSci project URO has surged significantly, with a market cap exceeding RIF. The market cap of new on-chain DeFi coins HYPE has reached 18 billion USD.
4. The BN new coin sector is leading in losses, including ME, MOVE, USUAL, ORCA, ACX, etc. The decline of USUAL is due to the end of pre-market trading, leading to a significant increase in supply.
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