Yesterday, Bitcoin (BTC) broke below $84,000, and ETH couldn't hold above $1,600, with various altcoins dropping nearly 5% overnight.
However, the Solana ecosystem seemed to be energized, while Meme coins, ZK projects, DeFi, and AI+Web3 tracks were struggling, some barely holding on, while others simply 'laid flat'.
Solana truly was the 'chosen one' yesterday!
While the market was mostly in the red, it somehow ignited a slew of projects. This morning, a 'golden dog project' called FUR emerged, with several million-dollar projects suddenly going viral overnight.
From the trading volume, the activity on the So chain is skyrocketing, especially DeFi leader ROAM, which has risen a staggering 50% over the past week.
Why is Sol so strong? First, on-chain transactions are fast and cheap; second, the community is having a great time. I believe there are signs of Solana's resurgence, with potential in areas like DeFi, NFTs, and blockchain games. I suggest keeping an eye on it, especially for new and emerging projects that might offer great opportunities.
Meme coins basically followed the market down yesterday,
but ACT surprisingly rose against the trend. Some say it's due to speculative trading, while others think it's just a 'flash in the pan'.
I feel that this rebound for ACT lacks solid logic, and chasing after it could easily lead to losses. Meme coins rely heavily on sentiment; they rise quickly and fall hard. Friends who want to play should be cautious, just invest some pocket money for fun, and avoid going all in.
The ZK track crashed last night, with some projects dropping nearly 30% in a day.
The team stated that an admin account was hacked, while the community circulated that the founder's girlfriend's backup private key was stolen.
This operation is too haphazard; a technical track like ZK should be stable, but with such poor management, I suggest avoiding ZK projects in the short term. If you want to invest, choose those with solid technology and reliable teams to avoid pitfalls.
There wasn't much action in DeFi yesterday, except for Solana's ROAM continuing to perform well, while other projects remained quiet. The AI+Web3 track fared even worse, with the previously popular FART experiencing a significant pullback in the last two days, and others like AI16Z showing no improvement.
Bigcoin had a strong rebound yesterday, but dropped 40% in just one day. As expected, projects that skyrocket often hide significant risks, so be cautious when chasing high prices. On the other hand, the blockchain game Cambria hasn't released its token yet, but is quite engaging, with positive community feedback.
I think projects like Cambria, which are fun and grounded, might have opportunities. Friends interested can give it a try and also keep an eye on its token dynamics.