Yellen's speech yesterday revealed at least two key points. One is that the current US economy is still good and there is a possibility of a soft landing. The second is that although the labor market is currently stable, it is still relatively fragile and the Federal Reserve needs to continue to cut interest rates to prevent the labor market from collapsing.
Both of these pieces of information send relatively friendly signals to the outside world. After the Fed’s interest rate cut, hot money in the entire financial market is gradually flowing into cryptocurrencies. Keep paying attention and the situation will continue to improve.
For Bitcoin, you just need to hold on and don't let go. It is recommended that you don't touch futures contracts. The market will be very violent in the future. There will definitely be a big wash and a spike market, but when the contract returns to zero, it is really zero. It is better to make money slowly and steadily with spot trading. At least you can have soup to drink~
IN
Tokenization platform Securitize has recently integrated the Wormhole cross-chain communication protocol, aiming to enhance the transferability of tokenized real-world assets (RWA) between blockchain networks. In a Sept. 20 announcement, Securitize highlighted that the move is designed to enable faster and more cost-effective transactions, potentially facilitating the development of a cross-chain RWA ecosystem that includes tokenized financial assets, commodities, and art.
Securitize CEO Carlos Domingo stressed that tokenized securities must run on public, permissionless blockchains to fully realize the benefits of blockchain technology. By integrating Wormhole, the platform hopes to overcome current barriers to asset transferability that have limited wider adoption.
Wormhole is trading at $0.3188, up 18.58% intraday. Wormhole has shown strong liquidity and positive trend, with half of the trading days in the past month closing above its daily open.
In terms of price prediction, Wormhole is expected to trade between $0.2936 and $0.3302 by the end of this week, which could represent a 12.45% increase by September 29. Next week, the price could be between $0.3302 and $0.4127, which could represent a 25% increase if the cap target is reached by October 6, 2024.
Overall, Securitize’s integration with Wormhole could enhance cross-chain functionality for tokenized assets, while Wormhole’s ongoing price trends and predictions suggest steady growth in the near term.
CFX
Conflux has become a well-known player in the decentralized finance (DeFi) space, especially with its recent partnership with the Worldwide Stablecoin Payment Network (WSPN). The partnership brings WSPN’s stablecoin, WUSD, to the Conflux blockchain, with the goal of enhancing the platform’s capabilities in global payment and financial markets. WUSD is pegged 1:1 to the U.S. dollar, providing users with not only stable returns, but also higher staking rewards and access to a growing DeFi ecosystem.
Currently, Conflux's native token CFX is trading at $0.1889, with a price increase of 17.45% in the past 24 hours. Over the past year, the token has risen by 51% and remains above its 200-day simple moving average. It has demonstrated solid liquidity, performing well 57% of the time in the past 30 days, closing above its daily opening price.
As far as the short-term forecast is concerned, Conflux is expected to trade between $0.171272 and $0.192285 this week. If the higher target is reached, it could represent a 12.27% gain by September 30, 2024. The potential price range forecast for the next week is between $0.192285 and $0.239733, which means a 24.68% gain by October 7, 2024.
Looking ahead to 2024, Conflux is expected to trade between $0.171272 and $0.807359. If the upper limit is reached, this would represent a substantial increase of 335.79%. However, market dynamics and broader economic factors will influence whether these targets are achieved.
THETA
Theta Labs has launched EdgeCloud for Mobile, which allows users to contribute their smartphone’s GPU power as nodes in its decentralized network. In return, participants can earn TFUEL tokens. The platform aims to leverage the computing power of approximately 3.9 billion active Android devices to enhance its decentralized cloud infrastructure.
Theta EdgeCloud is a hybrid cloud edge platform powered by DePIN that uses over 30,000 distributed nodes to provide scalable, cost-effective GPU computing resources. As smartphones become more powerful, Theta Labs is committed to leveraging these devices to accomplish more complex computing tasks.
Currently, Theta Token (THETA) is priced at $1.519, having gained 8.6% in the past 24 hours. Over the past year, it has gained 141%, outperforming 61% of the top 100 crypto assets. THETA is trading 15.27% above its 200-day simple moving average of $1.33, indicating positive momentum. Moreover, 21 technical indicators are showing bullish signals, although the overall sentiment remains neutral. By October 26, 2024, the price is expected to increase by 5.09% to approximately $1.59.
Overall, Theta Token’s performance shows that it has stable growth, high liquidity, and is breaking through key technical thresholds. However, despite the optimistic market sentiment, caution is still needed in the short term.
UN
OKX recently completed its 25th OKB buyback and burn, buying back and burning approximately 17.34 million OKB tokens, the largest burn in its history. The total value of the burn was approximately $661 million. Although OKX has previously stated that the buyback was related to seasonal market conditions and operational performance, specific details about the process remain undisclosed.
OKB is trading at $42.42, up 7.91% in the past 24 hours. The coin has been trending upwards, with 16 of the past 30 days closing higher than the daily open, indicating strong bullish momentum. The overall sentiment based on technical analysis also points to a positive outlook.
In the short term, OKB is expected to trade in the range of $42.25 to $42.70, which could increase by 1.07% to $42.70 by September 29, 2024. However, the coin could see a slight decline next week, with a predicted price range of $42.35 to $42.70, which means a possible decline of 0.83% to $42.35 by October 6, 2024.
Looking ahead to 2024, OKB is expected to fluctuate between $39.92 and $56.26. If the upper target is reached, it would represent a growth of 31.78%, which has growth potential despite short-term volatility.
