As the earliest virtual currency, Bitcoin has always been a weathervane of market trends. Bitcoin may bottom out again in May before starting to rise. This is the last bottoming out before the second stage of the bull market starts. The bottoming out time is roughly before the end of this month. The altcoins are basically consolidating at the bottom, and it is not far from a substantial rise!
After several days of sharp declines, the market sentiment is mostly panic. Is the bull market over? I think not. There is no sign of outflow of the total amount of stablecoins on the market, and the Federal Reserve has no tendency to increase interest rate hikes and shrink its balance sheet. At present, we can only trade time for space, so what is there to look forward to in May?
Ambush 4 Cryptocurrencies That Are About to Rise 100x!
Click here to recharge your faith
1.OP
OP, the native token of Optimism Collective, is not only a digital currency, but also the key to the management of this ecosystem. OP holders can participate in the governance and development of Optimism and jointly shape this vibrant network.
Optimism (OP) has seen mixed price action recently, with short-term momentum hinting at a potential recovery. Although Optimism is down 2.93% from the last month, it has grown an impressive 84.64% over the past six months. Currently trading between $2.44 and $3.20, Optimism remains below its 10-day and 100-day moving averages, suggesting a near-term downtrend. However, the coin could be sold off due to the low RSI at 33.89, suggesting a potential price rebound. Investors should watch the short-term resistance at $3.50 and support at $1.98 for clues on Optimism’s future trajectory.
2. ETHFI
Ether.Fi is a new infrastructure-based staking protocol on Ethereum. Ether.Fi allows participants to retain control of their keys when staking on behalf of others, and deposits to Ether.Fi will automatically re-stake with Eigenlayer. Eigenlayer uses staked ETH to support external systems (such as rollups, oracles) to build an economic security layer, which increases the returns of ETH stakers in the process.
As the leader of the re-pledge protocol, ETHFI's opening price is not high, but it is definitely a strong potential stock. As the ETH/BTC ratio changes, the market will turn its attention to emerging tokens that are more volatile than Ethereum ETH and have relatively low circulation. Compared with old tokens, ETHFI is more attractive because of their higher volatility and growth potential.
Although ETHFI's price has dropped 40% in the past 30 days, market conditions have gradually stabilized. Currently, ETHFI is ranked 165th on Coingecko's market cap, and given its current market cap of $500 million and fully diluted valuation of $4.3 billion, ETHFI still has the potential to enter the top 100 in market cap rankings. This shows that despite the challenges in the short term, opportunities for long-term growth still exist.
3. RNDR
RNDR Token is a decentralized economic network that converts GPU computing power into 3D assets (such as graphics cards). The goal is to authorize the creation, sharing and monetization of any 3D object or environment through the Ethereum blockchain protocol. RNDR Token is powered by breakthrough cloud rendering technology, creating a distributed global network of millions of peer-to-peer GPU devices.
RNDR, which occupies an important position in the field of AI, has risen by as much as 34% in the past 7 days, showing its strong growth potential. Render (RNDR) Render Token, as a leader in the distributed GPU rendering network on the Ethereum blockchain, is committed to connecting artists and studios with GPU computing power providers to achieve a seamless rendering experience. As an ERC-20 utility token, RNDR promotes fairness in transactions between the two parties.
RNDR is currently trading at $11, up 3.76% in the past 24 hours, and has surged 40% in the past seven days. Its price has soared 343% over the past year, showing strong investor interest in RNDR. RNDR has significantly surpassed the 200-day simple moving average of $2.68 by 398.95%, demonstrating its stability and bullish sentiment.
4.PHB
Phoenix is an L1 and L2 blockchain infrastructure that powers smart Web3 applications, focusing on the next generation of artificial intelligence and privacy-enabled Web3 applications. PHB is the native token of the Phoenix Global network, used as a universal currency for all its mainnet transactions. After ChatGPT became popular, Phoenix (PHB) has also received a certain degree of attention as an AI concept coin.
In addition, good news about AI concepts will come one after another. Google's 2024 I/O event on May 14, Apple's developer conference on June 10, and the release of Chat GPT-5 from June to July will all strongly benefit the AI sector, so the future of PHB is worth looking forward to.
Create a high-quality circle
Spot mainly
The article ends here. There is a more detailed analysis in the circle. Join the circleClick here, I will reply in time~
