BTC has risen 3.3% in the last 24 hours, with Thanksgiving weekend approaching, a holiday that historically often accompanies sudden price drops. BTC's strong performance has bolstered major tokens, with Ethereum (ETH) performing exceptionally well, soaring by 7%, XRP and Binance Coin (BNB) rising by 6%, and Dogecoin (DOGE) up more than 5%.
Next, let's clarify a few bullish market trends:
First: The bull market may not end until at least the second half of next year and might even last longer. BTC could enter a prolonged bull phase (if there are significant favorable developments, such as massive investments from listed companies and some as strategic reserve funds).
Second: On January 20, 2025, Trump will officially take power, and a series of pro-cryptocurrency policies will be introduced.
Third: The entire first half of 2025 will still be a year of Federal Reserve rate cuts, with large capital overflow benefiting the entire crypto space.
Fourth: The start of the bull market typically begins 6 months after BTC's halving, meaning this major bull market will officially start in November 2024; this is just the beginning!
After considering the above points, does this strengthen your belief that the most crazy part of this bull market has yet to come!
The altcoin market will continue!
After Bitcoin's market capitalization ratio against altcoins reached a recent high of 61%, it hit the weekly resistance level from previous years and is now falling back as expected.
As the altcoin market grows larger, Bitcoin's market cap ratio is diluted cyclically, which I think is an inevitable trend.
My personal view is that Bitcoin's market cap ratio in this wave of market has already peaked. Macroeconomically, as the probability of interest rate cuts in December increases, the greenhouse effect of capital in the crypto space will become more pronounced.
If after 21 days it really is altcoin season, then what you need to do is to ambush quality rising altcoins in advance. As I said, in this stage, holding onto your tokens is the real secret to wealth!
In recent days, Ethereum has not fallen with Bitcoin. It started to rise significantly last night, approaching $3,700, which has refocused market attention on the Ethereum ecosystem, with multiple hot tokens performing well, including:
ENS: Price surged over a single day53%, becoming the best performer among the top 300 tokens by market cap.
Puffer: Price surged dramatically in a single day.60%
EIGEN: Price rose 25% in a single day, breaking through $4.1, just shy of its historical high.
INST, ENA, etc.
As Ethereum continues to perform strongly, the performance of related ecosystem tokens deserves attention, and the market may officially welcome altcoin season! This reminds people of the trends from 2020 to 2021. At that time, Bitcoin started a significant upward trend, Ethereum rose, and then roles reversed, with Ethereum soaring significantly, and various sectors subsequently experiencing violent upward trends. History may not repeat itself simply, but its reference value is immense.
Despite the essential differences from 2021, such as the Federal Reserve not injecting liquidity and limited liquidity, if BTC maintains FOMO sentiment and ETH continues to rise, which coins and projects are worth watching?
- MEME Sector:
The focus is on new MEME projects that have been launched on major exchanges like Binance. Based on historical experience, there will continue to be hype, and market makers need to leverage this hype to make profits.
Of course, previous old MEMEs also have opportunities, but specific allocation should be handled by you.
Don't forget that a powerful new MEME was born at the end of 2023, and this year’s Bitcoin peak at 73,700 also gave rise to a powerful new MEME listed on Binance. The next powerful MEME may continue to emerge on major exchanges.
- Public Chain Sector:
In every major upward trend, public chains have never left the table. SOL, INJ, TIA, SUI, SEI, and so many more.
Especially in the last year or two, new public chain projects that have landed on major exchanges like Binance, such as OMNI, have risen significantly recently. As for opportunities in older public chains, keep an eye on SOL, INJ, ADA, etc.
- AI Sector:
That wave at the beginning of 2023 saw numerous AI-related projects in the crypto market rising significantly.
Then from the end of 2023 to the beginning of 2024, crypto projects related to AI, such as FET, and even those slightly related to AI, like WLD and ARKM, all had good gains.
Recently, AI-related projects have been very popular, no need for me to elaborate.
Now let's talk about the 2000% rise of $THE today.
➜ $THE
The ve33 model, known in Chinese as 'Flywheel 33', differs from traditional DEXs, with the biggest feature being that all income from DEXs goes to ve33 stakers, making the token a genuinely profitable asset, unlike UNI and CAKE which are essentially useless.
Currently, the most successful token of the ve33 model is Aero from the Base chain, which has achieved weekly earnings of 8 million USD. Its circulating market cap is about 800 million (total market cap 1.7 billion). Currently, the circulating market cap of THE is about 50 million, with last week's income being 400,000. To reach Aero's market cap, THE would need to grow by about 15-20 times.
The characteristic of Flywheel 33 is that once it starts spinning (receiving support from the chain it’s on, similar to Base's Aero, which was recently invested in by BNB Chain), it will exert a downward pressure on the liquidity and other DEXs of the entire chain. Gradually starting to suck liquidity, ultimately like Aero, where 80% of the entire chain's TVL is its own. The continuously increasing demand is expected to strengthen THE's position in DeFi, and support from Binance and market interest will drive THE's price up in December.
➜ $ENS
The leading coin in the domain name ecosystem is Ethereum Name Service (ENS), a token favored by Vitalik Buterin, closely related to ETH. As ETH starts to catch up, ENS has begun a wave of accelerated growth, with trading volume skyrocketing.
The close relationship between ENS and Ethereum, coupled with Ethereum's recent price increase showing signs of fatigue, has sparked market speculation: Is Ethereum brewing a new surge? If this trend continues, projects closely related to Ethereum's Layer 2 network (such as SSV, LDO, OP, NEAR, ARB, etc.) may welcome a new round of increases driven by the expansion of the L2 ecosystem.
➜ $TIA
As a standout in the modular new public chain space, TIA has just broken through its historical high.
In the context of an overall market correction, TIA has managed to rise against the trend, fully demonstrating the strong power of its backers.
The weekly K-line pullback has ended, and the daily level has quickly rebounded after touching the 5-day moving average, which is a typical characteristic of strong coins. It is expected that TIA will easily reach around $12 in the short term.
