Let’s look at the disk first
The United States is promoting legislation related to cryptocurrencies, and the DeFi sector may become a key regulatory target. Yesterday afternoon, Bitcoin hit a support level of 29,500, but failed to stabilize the support level and continued to fall. The short-term trend of Bitcoin continues to fluctuate. The view remains unchanged. The support level of $28,500 is expected to be below, and if it breaks, it will test the mid-line support level of $27,500. The pressure level of $29,800 is expected to be above, and the rebound will continue if it breaks. Now it is mainly high-altitude and low-multiple.
Ethereum Cancun upgrade expected to be deployed in November
Yesterday, EthHub co-founder Anthony Sassano published an article predicting that the Ethereum Cancun upgrade (Dencun) will be deployed in November this year. At that time, the highly anticipated EIP-4844 proposal is expected to significantly increase transaction speeds and reduce transaction fees.
In a tweet interacting with the community, he believes that the Ethereum Cancun upgrade will come in November this year:
My personal estimate (not the core developers' opinion) is November.
Previously, the Ethereum Foundation also expected Dencun to be launched at the end of 2023 at a meeting on June 8. Core developer Tim Beiko also stated in a video conference that the upgrade content has been roughly decided and no other proposals will be added.
Let me reiterate a few tracks that I am optimistic about.
1. Cancun upgrades the second-layer protocol track
2. Leading lending protocol in the RWA track
3. NFT track
4. BRC20 track
5.LSD pledge track
Recently, many friends asked me which MEME coin can be used to enter the market. If you want to play MEME, you can play PEPE.
Why is Pepe favored among MEME coins?
1. The value of emotions must belong to meme coins. As the first meme launched in the bear market, there is no reason for it to remain silent.
2. The market is not dead yet. Once the sentiment comes, the meme will definitely explode immediately;
3. In the last round when Bitcoin returned to 25,000 US dollars, Pepe's lowest price started at 0.8, bottoming out and rebounding. The bottom of the sentiment must be disappointment. There is no reason for Pepe to continue to fall sharply. There is no obvious reason for the decline. It is generally said that if it rises too much, it must be adjusted. I continue to be optimistic about Pepe.
Has the copycat season begun?
As Bitcoin’s (BTC) dominance begins to waver, there are signs that a new altcoin season may be around the corner. Other altcoins such as XRP and SOL have also seen significant growth. Correspondingly, each has increased by more than 2%. This bullish trend in altcoins has pushed the altcoin signal into the altcoin season zone in a short period of time. Amid this move, Dogecoin, an altcoin known for its strong narrative, is leading the market higher after Musk renamed Twitter to X.
Two Solana DeFi Ecosystem Projects Worth Paying Attention to
Jito Lab
JitoSOL is Solana’s first MEV-enhanced liquidity staking token. Jito offers the highest APY for SOL staking (7.22% APY). Simply deposit SOL through their UI. Staked SOL is only deposited with top validators running Jito-Solana, which allows for more efficient MEV withdrawals through bundled transactions.
The staking pool is non-custodial. You can continue to earn staking rewards while participating in Solana DeFi and NFT transactions.
MarginFi
MarginFi is currently the fastest growing DeFi application on Solana, and it is a lending platform.
MarginFi uses a very clever points system to accelerate its growth. For every dollar lent, you get 1 point per day; for every dollar borrowed, you get 4 points per day.
They don’t have a token, and they don’t explain how users will use their points.
