【Market Summary】
The weekend market can be described as polarized; Saturday performed well, but Sunday saw a collective pullback.
In terms of mainstream coins:
· As long as the U.S. stock market is closed, BTC will not show too many dynamics. Instead, it dropped over the weekend, but the decline was minimal.
· ETH saw a decent increase on Saturday, reaching a peak of over $3.5k, but has now returned to $3.3k, still underperforming as usual.
· SOL has had no significant movement since breaking its previous high last week.
· On Sunday, BNB also approached $690 at its peak, and the club believes that Binance is likely to launch a new Launchpool this week. Additionally, the founder of Movement tweeted last Friday indicating that BNB might also have growth potential.
The biggest gainers on Saturday were the old coin sector, such as XLM, ADA, XRP, etc. The rise of these coins was essentially influenced by the announcement of the SEC chairman's resignation last Thursday.
Another strong sector on Sunday was the GameFi sector. We can see that the tokens in Binance's GameFi sector experienced a general increase of 10%. However, despite the broad increase in the GameFi sector, there hasn't been any significant new innovation, making this rise less impactful.
Regarding MEME coins, DOGE reached a new high for the year on Saturday, hitting 0.48, while PEPE also reached around 22, but both have since seen a pullback. However, early this morning, PNUT experienced an upward surge, currently around 1.23, suggesting that squirrels might have a trading opportunity.
On-chain MEME coins have shown the strongest trends recently, particularly on the BSC chain, with projects like Cheems and WHY breaking their previous highs over the past week. If Binance can indeed launch a MEME on the BSC chain, it could revitalize the currently sluggish MEME trend on SOL, providing good momentum to boost BNB's price.
In the DeFi sector, on Saturday, some established DeFi projects showed impressive gains, with UNI, AAVE, and CRV all performing strongly.
