GM, good morning everyone. After a two-day rest over the weekend, I believe everyone has recovered. Over the weekend, Bitcoin and Ethereum experienced high volatility, so this week we should be cautious of both long and short positions. As the year-end approaches, it’s wise to secure profits. Always remember we are here to make money, not to gamble. Avoid counter-trend operations and heavy trading. Please check today's market situation!
1) Overall Market Trend
BTC is experiencing high volatility, while altcoins are showing mixed performance.
U.S. stocks are rising, and a rate cut by the Federal Reserve in December seems likely.
2) Market Highlights:
1. Defi projects like Sushi, IDEX, MLN, and 1inch have surged. Sushi has launched products on the Solana chain, and the 1inch team has sold some tokens. The two new defi coins on Binance, ACX and ORCA, have underperformed expectations.
2. Platform coin BGB has surged. BGB has a market cap of $5.5 billion, while OKB has a market cap of $14 billion.
3. DeSci projects URO and RIF have surged. KOLs from China are promoting them.
4. The move airdrop on the ETH chain L2 will be launched on OK. Move is written in the Move programming language by a U.S. team. The off-market valuation of Move is $5 billion, which is relatively expensive, but the airdrop is quite generous, averaging several thousand U.
5. The public chain APT will have a large unlock of $160 million worth of tokens this week.
