$ETH reminds that the long bearish candle on the daily chart of Bitcoin is a bearish signal. Today, the daily chart must have a strong bullish candle that engulfs yesterday's bearish candle to mitigate the risk; otherwise, the current pullback and consolidation have not ended. The support below is at 90,000, and if broken, it looks at 85,500-86,500. Yesterday, Ethereum had an independent trend that protected altcoins, but this does not mean it will continue to trend independently. A breakthrough above 3,550-3,600 in Ethereum is necessary to establish independent market conditions; otherwise, if the rebound fails to break, Bitcoin can easily bring it down.
Analysis of the Impact of GMT DAO's Destruction Plan
The GMT DAO destruction plan is bound to be beneficial for the token market. First, the burning plan launched by GMT DAO is an innovative attempt aimed at determining whether to destroy the GMT tokens repurchased by the team through community voting. This initiative not only reflects GMT DAO's emphasis on community participation but also demonstrates its determination to drive up the price of GMT tokens through on-chain governance. Secondly, the implementation mechanism of the burning plan is designed quite cleverly. Users participate in voting by locking up GMT tokens, which not only directly influences the voting results but also allows them to earn additional GMT rewards. This mechanism not only encourages users to actively participate in voting but also strengthens community cohesion. Meanwhile, by destroying the repurchased GMT tokens, the number of circulating tokens in the market can be effectively reduced, potentially increasing the value of GMT tokens.
What are the cryptocurrencies worth buying this week in 2024?
What cryptocurrencies are there with the development of technology? Cryptocurrencies have gradually become a popular form of investment and trading. How are they different from the fiat currencies we use daily? What cryptocurrencies are there? Cryptocurrency is a form of digital currency that is not controlled by any central authority or government, primarily existing in the online world. Cryptocurrencies can be used globally, relying on cryptographic techniques to ensure transaction security, with all transaction records stored in a decentralized ledger.
1. Pepe Unchained (PEPU) – A Layer 2 blockchain innovation that leads in speed.
China Opens Cryptocurrency Market: COS Begins a New Era of SocialFi
Chairman of Hong Kong cryptocurrency exchange HashKey: China will open its cryptocurrency market within 2 years at the fastest. In recent years, the rapid rise of the cryptocurrency market has not only driven technological innovation but has also become an important battleground for policy games among various countries. Web3 Creator Economy
Web3, as the exploration direction of the next generation internet, is based on the core concepts of decentralization, user self-management, and data ownership. This transformation has had a profound impact on the creator economy. Data ownership and assetization: In Web3, creators can truly own their data and creative content, managing and trading them as digital assets. This helps creators better protect their intellectual property and directly gain economic benefits from their creations.
XRP Doubles in Value Over 30 Days Outperforming Bitcoin and Meme Coins
Ripple's native cryptocurrency XRP has become the market focus, reaching a three-year high in price. Moreover, the futures open interest (OI) also hit a historic high of $2.1 billion, indicating a significant increase in trading activity. Investors expect XRP to replicate its 2018 surge, targeting the $3 mark. This rise is driven by Trump's victory, and this article will analyze why Trump's victory brings such significant benefits. Is the relationship with Trump seemingly good? Ripple CEO Brad Garlinghouse shared his views on Trump winning the US presidential election in an interview published by Fox Business on November 15, and was asked about rumors regarding "his post-election meeting with Trump to discuss cryptocurrency policy."
Solana's key factors for breaking through $500 by the end of the year
Solana price has breached a key bull target of $241 as trading volumes on the decentralized exchange (DEX) within the ecosystem surged on the back of the red-hot meme coin craze. As a Layer 1 blockchain, Solana continues to gain an advantage in market positioning due to its faster speed and higher efficiency than competitors such as Ethereum, and its price is expected to reach $500 by the end of this year. If Solana can hold the critical breakout point of $241, the next bullish target will be $291, which has entered the price discovery range - the current SOL historical high is $259.
SOL Hits New Highs? Solana Dominates Nearly Half of Blockchain Activity in Bull Market
Solana achieved an important milestone during the U.S. election week, with on-chain transaction volume reaching 172 million. This achievement highlights Solana's dominance in the blockchain ecosystem, with nearly half of blockchain activity attributed to this network. With its speed, scalability, and low transaction costs, Solana has become a popular choice for developers and users. Its market cap of $112.36 billion further solidifies its position as the fourth largest cryptocurrency.
Solana faces key resistance: Technical outlook At the time of writing, Solana's trading price is $237, having risen over 9% in a day. After breaking out of a symmetrical triangle pattern, SOL has surpassed the resistance level of $222, which is now a support level.
Decoding Trump's Crypto Effect: A Hundred-fold Potential Coin
Many coin enthusiasts have known DOGE for a long time. It is the cryptocurrency invested by Musk. President-elect Donald Trump has announced the creation of a "Department of Government Efficiency" (DOGE) and has put Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy in charge of cost-cutting federal spending. Musk will surely be the biggest beneficiary. But what about Trump's?
What is the Department of Government Efficiency (DOGE)? Trump created the Department of Government Efficiency (DOGE) to "cut excessive regulation, reduce wasteful spending, and reorganize federal agencies." It's not a formal government department, but Musk and Ramaswamy will provide advice on areas that need improvement.