Today, Bitcoin closed again above 100k, indicating that the 100k level has effectively stabilized, laying a good foundation for further upward movement. Ethereum is facing resistance at the 4000 level, which is unlikely to break through in the short term. It is oscillating around the 3840—3990 range, and this trend may continue in the coming days, seeking an opportunity to break through the key level. This weekend, Wall Street will be closed for two days. In previous weekends, liquidity has decreased, and the market has been in a downward oscillation. Will there be a consolidation during these two days to give altcoins an opportunity for a rebound, or will Bitcoin soar directly in these two days, creating a different market trend?
Bluefin surged twofold in a single day
Bluefin has already become one of the top 3 coins by market cap in the Sui ecosystem, with the top two being DEEP, the favored child of Sui, and Cetus, which is listed on Binance. I now think it is very likely that Bluefin will surpass Cetus. Especially in the past few days of crazy price rises, the market doesn't dislike VC coins; it just hates projects without vision. Bluefin has undoubtedly proven its strength and potential to the market through its price surges. Bluefin is the largest DEX by trading volume on Sui, with the total trading volume of Sui's perps + spot around 70 billion, and Bluefin occupies $40 billion. In recent years, its transaction fees have exceeded $9.9 million, raising the question of whether the fee income is being used to drive the price upward. The recently launched AMM Spot TVL has already reached over 30 million, and the LP mining rewards on it should be the highest in the Sui ecosystem. The barrier to entry for DEXs isn't that high, and Bluefin's high annualized returns undoubtedly allow it to compete with Cetus for market orders, combined with AMM providing Bluefin with the best liquidity, largest trading volume, and most rewards. The growth flywheel has already started, and Bluefin's growth rate on Defilama is the fastest, with protocol revenue only second to Cetus.
What coins have opportunities to invest in?
Let's talk about AAVE and UNI; these two are quite frightening. Especially AAVE, which has surged 30% since Wednesday. It seems that around 380 is a resistance level, so one could take profit at higher levels. UNI is closely following ETH’s pace, and I see it as ETH with a built-in 2x leverage. I believe ETH will definitely break through later, so UNI also has a great opportunity; let’s see if it can re-enter above 16. My view on UNI and AAVE is that the bull market is here, and DeFi trading volume is surging, so these sectors will benefit. Moreover, the rotation among sectors is quite evident now; previously, the Solana ecosystem was very hot, but now the spotlight has shifted to ETH taking off. The earlier investments in ENS, Puffer, and UNI have yielded significant returns, multiplying several times by being ahead of the curve. These coins can be bought on dips; once ETH breaks through later, they will all surge again. Additionally, Dogecoin can also be accumulated; it has consolidated for a long time. Pepe is also doing okay; I have positions there as well. Let’s wait for the next wave of altcoin season!
#SUI再创新高 #AVA突破3美元 #USUAL现货即将上线
