Bitcoin is currently priced at 103,592 USD, generally maintaining a fluctuation between 101,000 and 105,000 USD. If there is no significant increase in capital inflow, it is expected to linger in this range in the short term.
It's time for Ethereum to shine!
ETH has just taken off, and the real big market hasn't started yet. This round of increase is not only a price realization but also a signal of trend reversal. Starting from 2275 USD, breaking through 2500 and challenging 2600+, Ethereum is changing hands. The new main force is not for short-term trading but for positioning in the main upward wave.
From a technical perspective, ETH is steadily standing above the daily EMA200 and the 4-hour MA100. The moving averages are in a bullish arrangement, with a MACD golden cross gaining volume, and the Bollinger Bands are continuously opening up, indicating a significant upward shift in the center of gravity. The key short-term range is 2580-2620; as long as it doesn't break 2430, the fluctuations represent accumulation, and pullbacks are low-buy opportunities. If it breaks through the previous high of 2730 with increased volume, the main upward wave is expected to start, targeting a range of 2950-3200 USD.
On the fundamental side:
ETH rose more than 5.6% in a day, returning above 2500, with positive market sentiment.
The ETH reserves on exchanges have fallen to 19.1 million, selling pressure has weakened, and demand is driving prices.
Although the spot ETH ETF saw a net outflow of 10.83 million USD in 24 hours, institutions are taking over.
If the ETF net flow turns positive, it will significantly enhance upward momentum.
On May 7, Pectra upgraded to enhance scalability and security. If ecological applications land quickly, it will become a catalyst for growth.
In summary, ETH is expected to enter a rhythm of 'consolidation accumulation → step-up rise → catalytic explosion,' targeting 3000 USD, moving more steadily, deeply, and far than most coins.
Altcoins are also seeing a long-awaited golden cross, with the last one occurring in 2021. However, the current market faces two major challenges:
First, projects are scattered and no longer concentrated in popular areas like DeFi and GameFi as in 2020-2021;
Second, high leverage is prevalent, making it difficult to easily find 10x or 20x hit coins like in previous years.
Therefore, this round of market movement is more about capital rotation rather than being driven by a few phenomenal projects.
The total market value of Believe ecosystem tokens has exceeded 450 million USD, with the platform creating over 11,000 tokens. Although new 'golden dogs' keep emerging, most fell over 50% yesterday.
According to Believe Screener data, there are currently only 4 tokens with a market value of over 10 million USD, a noticeable decrease from 6 yesterday, with some major tokens experiencing significant corrections:
LAUNCHCOIN: Up 35%, market value 300 million USD
GOONC: Down 45%, market value 36 million USD
DUPE: Down 58%, market value 25 million USD
UNICORN: Up 56803%, market value 19 million USD
The current ecosystem exhibits characteristics of 'new coins experiencing wild ups and downs,' similar to the earlier performance of the Virtuals ecosystem.
Although there are more and more new projects, LAUNCHCOIN has just surged to a market value of 300 million, but $DUPE and $GOONC have significantly corrected. Most projects are only focused on issuing coins without considering the follow-up, making it difficult to sustain in the long run. Meanwhile, the platform has siphoned nearly 10 million USD in 24 hours, indicating that driving prices up is still 'worth it.'
Regarding Binance's new coins and Alpha:
It's been a few days since I last wrote about Alpha. Recently, rewards require points, and it still only counts for 15 days, needing more transactions each day. I’m just casually aiming for 8-10 points; it's been a long time since I’ve achieved that.
As for today's hot topic $NXPC:
Many people ask whether they should invest. To be honest, I haven't researched it much. GameFi hasn't released anything new in a while, and the performance of the previous projects has been mediocre. Although $NXPC has a strong background, whether to invest depends on its opening performance, and I don't plan to participate for now.
