A summary of the upcoming January market:
First is next month's hot topic; the Trump-Musk series concept tokens are undoubtedly key areas for investment, and there will definitely be a new market surge around Trump's official inauguration.
Next is the Wall Street institutional concept series, with Grayscale leading the charge. It is expected that the violent moves from Grayscale starting with ZEN will kick off the violent rotation of the altcoin sector in the short term. Additionally, sensitive partners should have already noticed the recent movements of platform tokens, with BGB and GT reaching historical highs, followed by BNB and HTX, and before that, OKB reached a new high earlier this year in March.
However, if we calculate the prices starting from October this year, all except OKB have gradually reached new highs, even HTX, which performed the most questionable. Partners who have experienced the last bull market should understand that the initial rise of platform tokens indicates that the rotation of the altcoin market has already begun; platform tokens are the series that experience the highest concentration of explosive growth after the old mainstream and before the unpartitioned altcoins.
Buy the dip on 3 altcoins that could increase 10 times in the future! 1. MOVE
The MOVE token has attracted attention with its outstanding performance. Since its debut on December 9, MOVE has maintained a strong bullish trend. In the past 24 hours, it recorded a 9.18% increase, bringing its weekly growth rate to an impressive 53.76%. Today, MOVE's price is $1.15, teetering on the brink of breaking through the classic cup-and-handle pattern. This bullish formation often signals further growth.
On December 20, MOVE became the cryptocurrency with the highest increase among the top 100 cryptocurrencies, reaching a peak of $0.877 during the day, with a closing market cap close to $2 billion. This surge was accompanied by a 63% increase in daily trading volume, exceeding $1.6 billion, highlighting the growing interest of traders. Additionally, according to CoinGlass data, the open interest in MOVE futures surged to an all-time high of $103.93 million, more than double the $56.03 million from the previous day.
The rapid rise of MOVE is mainly attributed to its partnership with leading digital asset custody and security provider BitGo. This collaboration brings WBTC (Wrapped Bitcoin) to Movement's mainnet, expanding its DeFi ecosystem. By integrating WBTC, Movement aims to provide more options for asset utilization, liquidity provision, and participation in decentralized financial services.
Additionally, the mainnet launch of Movement two weeks ago has also played a key role in its development. As a second-layer network supported by MoveVM, Movement distributed a portion of MOVE tokens to early adopters and community members, further stimulating interest.
Although MOVE's setup looks promising, traders should remain cautious. If it fails to break through the current resistance level, it may trigger a short-term pullback and possibly find support around $0.83. However, if MOVE successfully breaks through, it may continue its impressive upward trend.
2.TON
The price of Toncoin (TON) is $5.74, with a 7-day increase of 8.85%. Its market capitalization is $14.65 billion (up 3.44%), with a 24-hour trading volume of $223.72 million, showing an increase of 4.19%. Out of 5.11 billion TON, the circulating supply is 2.55 billion, and the fully diluted valuation (FDV) of the token is $29.38 billion.
The Open Platform (TOP) recently launched the TON Space custodial wallet and completed the testing phase. TOP CEO Andrew Rogozov announced this news at the Gateway event in Dubai, unveiling a complete self-custody wallet platform. During the testing period, over 100 million Telegram users created self-custodial wallets, accounting for about 10% of the Telegram user base.
The updated TON Space platform offers seamless navigation, allowing users to easily switch between custodial and non-custodial wallets. These improvements simplify the registration process for new users and enhance usability.
3. PENGU
The PENGU token has made waves in the cryptocurrency market, showcasing its potential to deepen the connection between the Pudgy Penguins brand and its global fan base. The token was initially launched on Solana, with plans to achieve compatibility with Ethereum and the second-layer abstraction chain, Igloo, in future updates, thereby enhancing its cross-chain capabilities and expanding its utility.
In the past 24 hours, $PENGU has risen by 3.5%, with a weekly increase of up to 30%, and a monthly increase of 681.47%. This surge is due to significant developments, including listings on centralized exchanges and a large influx of whales.
After South Korea's second-largest cryptocurrency exchange, Bithumb, announced the listing of the PENGU/KRW trading pair, the token's price skyrocketed. Trading began on December 24, 2024, at 5:00 PM (KST), marking an important milestone for Pudgy Penguins. This listing has improved liquidity and attracted more traders, further driving the token's upward momentum.
In 24 hours, $PENGU achieved a significant breakthrough, surpassing the previous resistance level of $0.03026 and climbing to the current price of $0.03907. The token is currently in the resistance zone between $0.03026 and $0.03984. If it successfully breaks through, it may target the next resistance levels of $0.042 and $0.0472, indicating a potential increase of 21% from the current price.
