Author: Leek, Foresight News
On the evening of December 3rd, the cryptocurrency market experienced a wave of 'bilateral' trends.
Firstly, sudden changes in the South Korean political situation led to negative premiums at its largest cryptocurrency exchange Upbit, causing Bitcoin's price to fall to 60,000 USD at one point, leading to the platform eventually crashing. In other markets, Bitcoin also briefly fell below 94,000 USD, showing a significant pullback.
On the other hand, the recently revived altcoin market continues to maintain strong momentum, showing independent trends on the evening of the 3rd, particularly the collective explosion of some established coins from two cycles ago is particularly noteworthy.
Forbes once published an article listing zombie cryptocurrencies with a market capitalization exceeding 1 billion USD, including XRP, EOS, ADA, etc. Interestingly, last night these 'zombie cryptocurrencies' collectively moved, leading the gains in the cryptocurrency market.
According to the latest data from CoinMarketCap, several established cryptocurrency projects such as TRON, Kadena, NEO, EOS, etc., recorded strong gains, pushing the total market capitalization of cryptocurrencies globally to 3.51 trillion USD, with a 24-hour trading volume exceeding 290 billion USD.
TRON (TRX): Creating a historical high again after six years
TRON, founded by Justin Sun, ranks among the top gainers, rising over 70% in the last 24 hours, with a cumulative increase of nearly 96% over the week. As of the time of writing, the latest quote is 0.37 USD.
The TRON (TRX) project was founded in 2017 by Justin Sun and is one of the main public chains for USDT usage. TRON's historical highest price occurred in January 2018, when its price once surpassed 0.30 USD.
After 6 years, TRX price has created a historical high again. TRON was once known for its low transaction fees, but as the price of TRX tokens surged, its network transaction fees are now close to that of the Ethereum mainnet.
IOTA: Founded 9 years ago, surged nearly 40% last night
Surprisingly, the second place on the 24-hour gainers list is an ancient project from 9 years ago, IOTA, which has risen 39% in 24 hours and over 159% in the week. As of the time of writing, the latest quote is 0.56 USD.
The IOTA project was co-founded in 2015 by David Sønstebø, Serguei Popov, Dominik Schiener, and Sandy Pusz, all of whom are technical experts.
IOTA's core innovation lies in its use of Tangle technology, which differs from traditional blockchain architecture. Tangle is a Directed Acyclic Graph (DAG) designed to improve transaction efficiency by removing the need for miner participation, making it particularly suitable for applications like the Internet of Things (IoT) that require high throughput and low costs. Tangle is not a blockchain, as there are no chains, no blocks, and no miners in the world of Tangle.
IOTA's historical highest price occurred in December 2017, when IOTA's price once soared to 5.25 USD.
EOS: Goodbye grapefruit, 1000 yuan is indeed a dream
EOS also appeared on the gainers list, rising nearly 31.8% in the last 24 hours, with an increase of nearly 86% over the week. As of the time of writing, the latest quote for EOS is 1.52 USD.
The EOS project was founded in 2017 by Daniel Larimer and Brendan Blumer, aiming to build a high-performance blockchain platform to support large-scale commercial applications. It features fast transaction processing capabilities and high scalability, achieving a processing speed of millions of transactions per second, and the zero transaction fee characteristic has attracted many developers.
During its development, EOS experienced a high-profile period when it was called the 'Ethereum killer.' In 2018, its price once reached a high of 22.89 USD. It currently has basically no popularity.
NEO: 65% increase over the week
Similarly, the project 'AntShares' NEO from two cycles ago also appeared on the gainers list, with a 24-hour increase of 22% and a weekly increase of 65%. As of the time of writing, the latest quote is 23.1 USD.
NEO was founded by Da Hongfei in 2017. The initial goal of NEO was to create a blockchain-based smart economy platform that allows users to create, circulate, and trade digital assets. In 2017, NEO's market capitalization once exceeded 10 billion USD, with its historical highest price occurring in January 2018, when its price surpassed 168 USD. This shows that although NEO has rebounded, it is still far from its historical high, and the project's popularity has long peaked.
VET: 74% increase over the week
VeChain (VET) has risen over 12% in the last 24 hours, with an increase of nearly 74% over the week. As of the time of writing, the latest quote is 0.07 USD.
VeChain was founded in 2015 by Sunny Lu. Its goal is to achieve decentralized supply chain management through blockchain technology, providing end-to-end tracking solutions from production to consumption. By adopting blockchain and Internet of Things (IoT) technologies, VeChain is also one of the early well-known public chains led by Chinese.
VeChain's historical highest price occurred in April 2021, when the price was close to 0.28 USD. Currently, it still has a significant distance to break the new high.
