Overnight, BTC continued to rise, briefly exceeding 98k, and pushing close to 98.9k. 99k is like a layer of window paper, it will break with a poke. If 99k breaks, 100,000 USD will be within reach. There is no doubt that at this height, retail investors alone cannot form an effective driving force.
BTC has entered the institutional era. Many enterprises are mimicking the successful experience of MicroStrategy, buying and accumulating BTC as corporate reserve assets.
As Bitcoin approaches the 100,000 USD mark, Ethereum, which has been silent for a long time, also saw a strong surge last night, rising 7.5% in three hours, reaching a high of 3,386 USD earlier.
Ethereum has broken through the daily level resistance. This breakthrough will drive the Ethereum-based altcoins. Now let me summarize the Ethereum-based altcoins for everyone.
ETH layer2:
ARB, OP, ZK, STRK, METIS, MANTA, CELO.MNT, MATIC, IMX, SKL, LRC, CTSI, BOBA, COMBO, MODE.
As ETH aims to become a global computer, the responsibility of Layer2 is to support the prosperity of the ETH ecosystem with high TPS and low GAS. Its importance and value are self-evident.
At the same time, layer2 is the highest market value sector in the ETH ecosystem. Most projects are also typical of the recently criticized low circulation high FDV institutional coins. ARB, OP, and STRK, as three of the four kings, all have FDVs exceeding 10 billion USD.
ETH Staking/Re-staking:
LDO, SSV, PRL, SD, FXS, ANKR, ETHEI, REZ
LSD protocols mainly refer to the staking services related to nodes that emerged after the ETH Shanghai upgrade from POW to POS. LDO is the largest service provider, with the highest TVL in the network, and a circulating market value of 2 billion. SSV is a relatively important infrastructure.
ETH established DEFI:
UNI, SUSHI, AAVE, COMP, CRV, MKR, LOTY DEFI should be the most familiar to everyone.
As the largest innovative sector in the last bull market, the application of DeFi has been popularized in all aspects of daily on-chain activities. Due to the maturity of DeFi, this cycle is basically based on previous upgrades, and the innovation is not sufficient. ETH meme: PEPE, SHIB, SPX memes are very strong sectors in this bull market; holding a small amount is not a problem.
When ETH rises, altcoins continue to rise; when Bitcoin rises, altcoins keep falling. What does this indicate? It indicates that BTC's rise is unrelated to the funds within the circle; it is driven by institutions, and institutional funds will not spill over to altcoins. The rise of ETH is the true driving force of funds within the circle, which can lead to the explosion of altcoins!
