Yesterday, the average pullback of altcoins was nearly 10%. A drop of within 20% for some strong coins is considered a normal adjustment, while weak coins fell over 30%, which can be directly excluded in the future.
Let's take a look at today's key market trends:
1. Powell's speech is hawkish: The Federal Reserve may return to traditional inflation targets, maintaining a high-interest-rate observation period, leading to a decline in US stocks and a rise in US bond yields, making the market bearish.
2. The gaming token NXPC for Adventure Island is now online, currently priced at 2.7 USD, with a market cap of 2.7 billion; currently, the market cap of NXPC (Adventure Island) is relatively high, and it is not recommended to chase high prices or short.
3. The overall on-chain market has pulled back, with $Launchcoin's FDV oscillating around 200 million USD; abstract memes like $house and #useless continue to attract capital, and the market is focusing on attention economy.
4. CEX altcoins have generally declined: Influenced by the leading drop of $moodeng, $PNUT , $wif, and others have collectively retreated, with $ACT having pulled back to around 65, which could offer entry opportunities; the short-term trend still depends on whether Bitcoin can break through new highs.
5. FTX repayment is imminent: Over 5 billion USD will be allocated starting May 30, potentially bringing new liquidity to the market.
6. Ondo supports OUSG and PYUSD for all-weather swap services.
7. CZ responds to investment rumors: He stated that Binance's 2 billion USD investment in MGX uses USD1 and is unrelated to the TRUMP token.
8. CMC launches the platform: CoinMarketCap has introduced CMC Launch, with the first project being the decentralized contract platform Aster ($AST), which is worth participating in.
This week, there has not yet been a clear buying point during the overall pullback phase of altcoins, so patience is advised while waiting for signals.