Yesterday, Coinbase shares fell nearly 8% to $202.49 after the Financial Times reported that the Chicago Mercantile Exchange (CME) may soon offer spot trading of Bitcoin due to strong customer interest. At the same time, the ETH/BTC trading pair continued to decline yesterday, now at 0.045028, a three-year low. Compared with BTC, ETH is relatively undervalued and has a large room for future growth.
In the crypto market, according to Farside data, yesterday (May 16), the US Bitcoin ETF had a net inflow of $163 million. Among them, FBTC had the largest inflow, with an inflow of $67 million. The cryptocurrency panic and greed index reached 74 (70 yesterday), indicating that market sentiment continued to rebound.
Wealth-making sector: The new generation of popular MEME (MICHI, MINI, MANEKI)
The new generation of popular meme coins that emerged in the recent Meme Season rebounded from oversold prices amid market upheavals. During the market crash, whale wallets and smart money bought the bottom and rose strongly during the rebound. MANEKI's price continued to rise after airdropping to solana saga phone holders.
Factors Affecting the Market Outlook
The new generation of popular MEMEs are all characterized by strong market control and high market attention. MANEKI and MICHI had whales absorbing enough chips during several sharp price fluctuations; many strong market makers of the new generation of popular MEMEs have sufficient motivation to pull up these assets that have already gained huge attention in the market. The market's enthusiasm for the entire Meme track and the timing of the market makers' pulling up will be the most critical factors for making profits on this track.
The sectors that need to be focused on in the future
New public chain sector
SEI announced that it will launch the v2 upgrade plan in three phases, aiming to launch the first highly scalable parallelized EVM. According to the official blog of SEI, the upgrade will be divided into three phases: governance, alpha release and v2 readiness. High-performance public chains have attracted market attention, with obvious buying and rising prices.
SUI: Sui is a permissionless, PoS-based layer 1 blockchain designed to provide instant settlement and high throughput. Sui is horizontally scalable and can support the development of a large number of applications at ultra-fast speeds and ultra-low costs. Sui has been unlocked on May 3 and has no obvious negative news in the near future.
SEI: Sei is a first-layer blockchain optimized for digital asset transactions and is a fully open source general-purpose blockchain. SEI announced that it will launch a v2 upgrade plan in three phases, aiming to launch the first highly scalable parallelized EVM.
AI Section
Recently, major technology companies have frequently reported good news related to AI, which has boosted the entire US stock AI track and the encrypted AI sector. It is worth paying attention to
OpenAI launched its flagship AI model GPT-4o, which can perform audio, visual and text reasoning in real time. In February, OpenAI launched the text and video model Sora, which boosted the valuation of the entire sector. The launch of GPT-4o allows us to keep an eye on the AI sector.
Tech giant Microsoft is taking a closer look at the crypto industry, including the ways blockchain technology and artificial intelligence could one day support each other, Cointelgraph reported.
TAO: Bittensor is an open source protocol that powers a blockchain-based machine learning network. Machine learning models train collaboratively and are rewarded in TAO based on the value of the information they provide to the collective.
NEAR: Recently, many AI projects in the NEAR ecosystem are in the building/funding stage. NEAR is expected to become the AI hub of the future.
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the cryptocurrency circle to explore together. If you have any questions, you can comment and ask questions
