Ethereum still has room to rise after breaking through 3684! It is recommended to go long around 3530-3550, and continue to rise after breaking through and stepping back, with a target around 3900. Bitcoin rebounded strongly. Although it did not reach my ultimate goal, I successfully escaped the bottom and changed my position to ETH, which performed well.
Overall, the rise of the cryptocurrency market may have to wait until the end of the Black Friday consumption season, similar to the previous cycle. After ETH breaks through the high point, PEPE also has a chance to catch up. You can consider buying on dips and wait until Black Friday to observe the trend. Yesterday, there were many short liquidations, long counterattacks, and market rotations. Multiple currencies have the potential to catch up!
Let’s continue to look at the events that have been hot in the market recently!
THENA: An underrated DeFi rising star on the BNB chain
HENA is an innovative decentralized exchange (DEX) and liquidity platform built on the BNB chain, aiming to promote the transformation of the DeFi ecosystem through a permissionless, user-friendly design. The platform supports seamless token swaps, yield farming, and liquidity provision, providing users with a comprehensive DeFi experience. The current circulation volume is 76.58 million, and the circulation market value is only 138 million, showing a certain undervaluation potential.
The project will be launched at 8:15 tonight. If there is a pullback, you can consider buying at a low price. $THE has only raised 600,000 yuan, and has not been very popular since it was launched on the primary market nearly a year ago. However, its recent rapid rise suggests that there may be large funds driving it, and it is worth paying close attention to its subsequent performance.
Justin Sun “became friends” with Trump? He spent 30 million US dollars to buy WLFI and became the largest investor!
Recently, TRON founder Justin Sun has once again entered the public eye in a striking way. This time, he invested in the decentralized finance (DeFi) project “World
WLFI” and became the largest investor in the project. This move not only injected funds into WLFI, but also attracted widespread attention from the market.
After talking about the overall market situation, let’s take a look at what opportunities there are in the copycat sector?
According to Bloomberg’s source James, thanks to Trump’s friendly attitude and the appointment of the new SEC chairman, the Ethereum ETF is expected to be approved for staking functions next year. This feature will significantly increase the annualized yield and market attractiveness of ETH, or trigger a price increase of more than 10%. If the staking function is planned to be launched at the end of next year, Wall Street may submit an application early next year. Especially after the new SEC chairman takes office on January 20, BlackRock and other institutions are expected to quickly promote approval. Coupled with the Prague upgrade in March, Ethereum is expected to usher in a wave of market trends early next year, and smart funds may complete their positions before January.
On the other hand, the approval of XRP and LTC spot ETFs may be delayed to the final deadline at the end of next year due to their lack of support from CME options and futures ETFs. In contrast, Solana ETF’s approval date is set for March next year due to its earlier application time. With the change of SEC chairman, the Solana ETF is more likely to be passed, which may become an important signal for the new SEC to express its stance towards Trump. Even if it is not approved, the market's expectations are enough to drive the price of Sol to rise significantly before March. Related ecosystems such as DeFi leader Ray and Tugo leader WIF are also expected to benefit.
At the same time, JTO needs to be vigilant. Although the previous update mentioned that it is about to be launched is positive, data shows that it will unlock 135 million tokens in 10 days, equivalent to 103% of the current circulation, which may cause the value of holdings to be diluted by about 50%. Therefore, JTO is extremely risky and it is recommended to clear positions and avoid it, or even short it moderately before unlocking to make a profit.
Speaking of super-large unlocking, Xiao Miao reminds everyone to stay away from Ondo, because it is about to unlock 1.9 billion tokens at one time, equivalent to 135% of the current circulation. This large-scale unlocking will lead to a serious dilution of the value of holdings. It is recommended to transfer funds to $OM with less selling pressure
RWA (real assets on the blockchain) is one of the important narratives of this round of bull market, which has attracted institutions such as Franklin, Morgan, and BlackRock to deploy U.S. debt on the blockchain, and the track has promising prospects. In addition to Ethereum and Solana, the investment portfolio also needs to be equipped with some projects with practical applications, such as Ray, OM, ENS, etc.
Let's take a look at Dogecoin (DOGE). Musk will take the position of "Minister of Doge" on January 20. It is expected that DOGE will usher in another surge in early January. Xiao Miao plans to cover his position during the correction. It is recommended to enter the market at the range of 0.34-0.37 USD. If you are more aggressive, you can place a higher bid.
Even if there is a second pullback, it may only be a short-term trap, but with Musk taking office, DOGE is expected to take off again. Before the rocket launch on November 20, $DOGE took profit at 0.41, achieving a 4-fold return compared to the entry price of 0.1.
The Fed meeting minutes released a signal: gradual interest rate cuts may become the main theme
This week's Fed minutes showed more officials leaning toward gradual rate cuts and hinting that they might pause one or two rate cuts if inflation picks up, suggesting the Fed's attitude is slightly hawkish.
However, Xiao Miao is not too worried about this because the possibility of inflation rebounding is low in the current high interest rate environment. The market currently predicts that the probability of the Fed cutting interest rates at the meeting on December 19 is 61.3%, which is lower than more than 80% a few weeks ago, but Xiao Miao is still confident that the interest rate will be cut in December. Once the interest rate cut is implemented, the cryptocurrency market is expected to usher in a new round of rising market, waiting for market verification.
Today's article ends here. We are currently in a bull market, and the situation is turbulent. We share passwords every day. If you don't know what to do in a bull market, welcome to follow us. Bull market spot passwords and layout strategies can be shared free of charge.
