Market Trends on May 12

1. Overall Market Trends

BTC fluctuates at a high level, while ETH shows strong performance. The main focus of the market is on the severely undervalued meme coins with full circulation.

US stocks are fluctuating. Progress has been made in China-US trade talks, and there is a ceasefire between India and Pakistan, as well as between Russia and Ukraine.

2. Market Hotspots:

1. The public chain ETH has seen continuous rises, but institutional funds in the spot ETF have not seen net inflows. Over the past year, ETH has become the shorting stronghold for bears, with market expectations consistently predicting a reversal, leveraging the upcoming ETF staking benefits in early June to drive prices up. Staking concept coins like ETHFI and RPL have also risen, with ETHFI requiring VC investors to lock in positions.

2. Severely undervalued old meme coins such as Moodeng, Pnut, Goat, and the conspiracy group stronghold coins like Titcoin, Rato, Moonpig, and Dupe have all surged. Moodeng is a hippo favored by Vitalik, with contract holdings exceeding market capitalization, and market expectations suggest that Moodeng may soon be listed on BN for spot trading. Rato is the protagonist of the new book by Mutt, the creator of Pepe, and is currently the leading meme coin on the ETH chain. Titcoin belongs to the conspiracy group and has reached new highs after a significant drop. Moonpig is being controlled by James Wynn, a top trader at Hyperliquid. Dupe is also part of the conspiracy group.

3. New BN coins like Parti and Init have risen to new highs. Parti is a chain abstraction, Init is cross-chain, and the chip structure of these new coins is relatively good, making it easier to drive up prices close to institutional cost levels.