During the weekend, the market did not fluctuate much. Bitcoin touched $104,984 yesterday. Ethereum performed a bit stronger, reaching $2,608. Along with altcoins, it has climbed to a new height, which is a good thing for the market; the entire sector has been re-energized, and LDO, ens/ena, op/arb have all started to show corresponding increases, lifting the entire market as the tide rises. This indicates that market funds are beginning to rotate through different sectors, and people are seeking new profit opportunities.
Currently, all the favorable and unfavorable factors that can be seen have been exhausted. Next, if there is an upward momentum, then the real wild bull that injects confidence and liquidity into the market is still reliant on interest rate cuts. If the economy recovers after Sino-U.S. talks, the probability of a rate cut in June is still very low. However, Powell mentioned earlier that there are expectations for two rate cuts this year, so the market is betting on the end of the year. This may lead to a vacuum period from May until the end of the year after this wave of increase, in a sideways downward trend. Then, if there is a real rate cut at the end of the year, it could trigger another wave of excitement. Currently, if the market doubles, remember to reduce your position and keep some capital to invest again in the next six months.
A massive bull market explosion is about to arrive! Six cryptocurrencies are set to soar 100 times in the future!
ENS
ENS (Ethereum Name Service) transforms long and hard-to-remember Ethereum addresses into usernames like 'JohnDoe.eth', making them easier to remember and use, which is an important step in the popularization of Web3. In the world of Web3, identity is key. Accounts on traditional platforms do not really belong to you; being banned or experiencing downtime can cause you to lose everything. The concept of Web3 is: data and assets are under your control.
ENS is not a must-have, but it can greatly enhance user experience, just like how a WeChat ID is easier to remember than a phone number. Registration is simple, costs are low, and the threshold is low, allowing everyone to participate. On the technical side, ENS has a stable trend, showing upward signals after a long period of sideways movement. With the launch of Ethereum staking ETFs, the market is warming up, and the 'good story' surrounding them is just beginning. ENS is a project worth continuous attention.
OP
The rotation should also be due for OP, right? ARB and ZK have taken off, and the OP ecosystem's VELODROME has also taken off. OP is the leader among L2s, and if it doesn't take off, it would be impolite. The unlocks are almost complete, and it is basically close to full circulation. Let's aim for 1 this time.
I still think OP is the leader among L2s. Those who have actually used L2 chains know that the OP chain is the smoothest!
STRK
The worst L2 would probably be STRK. This can basically be considered a ghost chain, with daily active users not exceeding three digits. Previously, a bunch of users manipulated the airdrop to inflate the data, creating a false market cap. After going live on exchanges, it dropped 98% from its high. That’s really brutal. Currently, the market cap is 600 million, with about 1.2 billion worth of tokens still to be unlocked. The last unlock was on May 15th. Although it will rise afterward, I won't buy it.
I do not like to buy coins with a massive unlock volume. OPARB has risen so much that over 80% has basically been unlocked, and the remaining tokens are mostly in the hands of the project team. As long as the project team does not give up on this project, it shouldn't be too hard for the price to rise!
WLD
WLD has also risen. I've been recommending it these past few days. Those who bought it did so at the lowest point of this round of correction, which is around the $0.8 to $0.9 range.
After the hype around MEME coins, it will definitely rotate to other altcoins in the crypto space. Although WLD has a relatively large unlock, I still believe that WLD is the leader in the AI track. WLD at least has some practical applications and isn't a pump-and-dump coin. When it's time to hype, it will still be hyped, and the price will rise eventually.
CAKE
Binance is going to vigorously develop DEX, even putting DEX coins directly on the Binance app for direct trading (which is a huge benefit for CAKE, but it hasn't reflected in the coin price, for some reason). The burn mechanism has been upgraded; previously, it was community DAO, but now Binance has reclaimed control through various means. If they weren't keen to develop DEX, there would be no need to keep releasing large amounts every three weeks. We're in the final phase of a weekly triangle oscillation. If it chooses to break out upwards, the gains could be significant.
Profits are exploding, with TVL in the billions; UNI's TVL seems to be over 3 billion, which seems a bit unreasonable compared to the current market cap of 600 million. Overall, it relies on big players, ranking in the top three in performance within the same field, but with the lowest market cap, even 10 times lower than UNI. The market cap is seriously undervalued. I hope Binance can develop vigorously after reclaiming authority, reflecting on the coin price. I've swapped all my meme coins on BSC to CAKE; even if there is a market for BSC later, CAKE will not be absent.
