May 16 Market Highlights
Market Overview
The price of Bitcoin has weakened, leading to a decline in altcoins. FTX's debt repayment plan starting on May 30 may affect the flow of funds, and fluctuations in the US stock market have heightened risk aversion in the market.
Hot Topics
Blockchain Gaming: The 'MapleStory' chain transformation project Nxpc is gaining attention, with official investment concentrated, but gold mining returns are below expectations, potential remains to be observed.
Meme: Startup is rising against the trend due to KOL endorsements, and Useless relies on the holdings of the Bonk ecosystem founder, posing high speculation risks.
New Projects: The BN wallet TGE project Alaya AI has launched, focusing on AI data labeling, performance is yet to be evaluated.
Risks: Moodeng and Launchcoin have plummeted, smart money may be withdrawing, caution is advised as the market may turn.
BTC/ETH Market
BTC and ETH consolidated yesterday, the daily line is overbought, and sideways movement is expected during the day.
BTC support levels are 102500 - 103000, resistance levels are 105000 - 106000;
ETH support levels are 2450 - 2500, resistance levels are 2650 - 2700, entry can be considered lightly.
