Today is November 28, 2024, which is Thanksgiving in the United States, a significant holiday (the fourth Thursday of November each year), similar to the reunion of Chinese New Year's Eve.
But did you know? Recently, many netizens have expressed that Bitcoin usually experiences a decline on Thanksgiving because it marks the beginning of the Christmas shopping season. Investors in Western countries like the United States may sell Bitcoin and other cryptocurrencies for profit to celebrate the holiday season. The following data will compile the historical data of the past decade to see if this is indeed the case.
The probability of Bitcoin dropping on Thanksgiving is as high as 70%
According to Coinglass data, over the past 10 years (2014 - 2023), Bitcoin has dropped in price in 7 out of 10 Thanksgivings, with a drop probability as high as 70%, with no drops occurring only in 2014, 2015, and 2021. Statistically, it seems to lean towards a decline.
Exploring the potential for a hundredfold growth: 3 tokens following trends that are worth acquiring!
Polkadot
Polkadot is a decentralized protocol that allows different blockchains to communicate securely. It enables the sharing of value and data between networks such as Ethereum and Bitcoin without intermediaries. By using parachains, Polkadot can enhance speed and scalability, processing transactions more efficiently than Bitcoin and Ethereum. The DOT token is used for governance and staking within the network.
Holders can participate in the protocol's development and transaction validation process. Polkadot was developed by Ethereum co-founder Gavin Wood and is maintained by the Web3 Foundation, dedicated to creating interconnected and efficient blockchains.
XLM
Stellar (XLM) is a peer-to-peer decentralized network launched by the Stellar Development Foundation in 2014, and it has undergone significant growth. In the past week, the price of XLM has soared by 100%, making it one of the most worth-buying cryptocurrencies in the current altcoin season. Over the past month, this cryptocurrency has recorded a massive increase of 500%. At the time of writing, the price of XLM is $0.48759, reflecting a 14.20% increase over the past 24 hours.
According to Coinglass data, trading activity and open contracts for Stellar derivatives are significantly on the rise. The total trading volume of XLM derivatives has surged, highlighting increasing trader interest in the market trends of this token.
Open contracts (reflecting the number of open contracts in the cryptocurrency market) have also increased, indicating a growing commitment from market participants in the derivatives space.
OP
OP is the token of the Optimism Collective, responsible for governing the Optimism Layer 2 blockchain. The Optimism Collective is an experiment in digital democratic governance aimed at developing a decentralized ecosystem. OP controls protocol upgrades and network settings and incentivizes projects and users within the Optimism ecosystem.
In the next six months, 5.4% of the total token supply will be allocated to projects on Optimism through governance. If users are building within the Ethereum ecosystem, they can apply for these grants. The potential of the token lies in its role in enhancing Ethereum's scalability and promoting development. Its appeal in the current market may attract those interested in governance and ecosystem growth.
Render
Render tokens are the utility tokens of The Render Network, which provides decentralized rendering solutions based on GPUs. It enables creators to leverage GPU capabilities for rendering tasks more efficiently and at a lower cost. Node operators contribute their unused GPU capacity and earn RENDER tokens in return.
The system supports the production of animations, dynamic graphics, and visual effects by leveraging the processing power of a distributed network. With the growing demand for high-quality rendering across various industries, this technology has potential. In the current market cycle, the appeal of the token depends on factors such as network adoption and market conditions.
