Author: Leek, Foresight News.
On the evening of December 3, the cryptocurrency market welcomed a wave of 'bilateral' trends.
First, unexpected changes in the South Korean political situation caused its largest cryptocurrency exchange Upbit to experience negative premiums, with Bitcoin's price once dropping to $60,000, leading the platform to eventually crash. In other markets, Bitcoin also briefly fell below $94,000, showing a significant correction.
On the other hand, the recently revived altcoin market continues to maintain a strong trend, showing independent trends on the evening of the 3rd, especially the collective explosion of some old coins from two cycles ago is particularly noteworthy.
Forbes once published an article listing zombie cryptocurrencies with a market capitalization of over $1 billion, including XRP, EOS, ADA, etc. Interestingly, last night these 'zombie cryptocurrencies' collectively moved, leading the cryptocurrency market.
According to the latest data from CoinMarketCap, various established cryptocurrency projects such as TRON, Kadena, NEO, and EOS recorded strong increases, pushing the total market capitalization of global cryptocurrencies to $3.51 trillion, with a 24-hour trading volume exceeding $290 billion.
TRON (TRX): Creating a new all-time high after six years.
TRON, founded by Justin Sun, is performing well, ranking high in the increase list, with a 24-hour increase of over 70%, and a cumulative increase of nearly 96% over the week. As of the time of writing, the latest quote is $0.37.
The TRON (TRX) project was founded in 2017 by Justin Sun and is one of the main public chains using USDT. TRON's all-time high price occurred in January 2018, when its price once broke through $0.30.
After 6 years, the price of TRX has reached a new all-time high. TRON was once known for its low transaction fees; with the recent surge in TRX token prices, its network fees are now close to that of the Ethereum mainnet.
IOTA: Founded 9 years ago, surged nearly 40% last night.
Unexpectedly, the second place in the 24-hour increase list is an ancient project IOTA from 9 years ago, which saw a 24-hour increase of 39% and a weekly increase of over 159%. As of the time of writing, the latest quote is $0.56.
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) that aims to improve transaction efficiency by eliminating the need for miners, particularly suitable for applications that require high throughput and low cost, such as IoT. Tangle is not a blockchain because there are no chains, no blocks, and no miners in the world of Tangle.
IOTA's all-time high price occurred in December 2017, when IOTA's price once soared to $5.25.
EOS: Goodbye to the grapefruit, 1000 yuan is indeed a dream.
EOS also appeared on the increase list, with a nearly 31.8% increase in 24 hours and an increase of nearly 86% over the week. As of the time of writing, the latest quote for EOS is $1.52.
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 is characterized by fast transaction processing capabilities and high scalability, capable of processing millions of transactions per second, and the zero transaction fee feature has attracted many developers.
In its development history, EOS once experienced a period of brilliance, when it was called the 'Ethereum killer.' In 2018, its price once reached a high of $22.89. It currently has basically no popularity.
NEO: Weekly increase of 65%.
Similarly, the project 'AntShares' NEO from two cycles ago has also appeared on the increase 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.
NEO was founded by Da Hongfei in 2017. NEO's initial goal 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, and its all-time high price occurred in January 2018, when its price surpassed $168; it can be seen that although NEO has rebounded, it is still far from its historical high, and the project's popularity has long peaked.
VET: Weekly increase of 74%.
VeChain (VET) has increased by over 12% in 24 hours and nearly 74% over the week. As of the time of writing, the latest quote is $0.07.
VeChain was founded in 2015 by Sunny Lu. Its goal is to achieve decentralized supply chain management through blockchain technology, providing a full-process tracking solution from production to consumption. By adopting blockchain and Internet of Things (IoT) technologies, VeChain is also one of the early well-known public chains among the Chinese community.
VeChain's all-time high price occurred in April 2021, when the price was close to $0.28. Looking ahead, there is still a significant distance to break new highs.
