Market Overview
The cryptocurrency market is facing another "black moment"! BTC has plummeted sharply, and altcoins are also crashing, causing anxiety among investors. There are no ripples in the market, not even a decent hotspot to latch onto; it feels as desolate as a ghost town. The US stock market isn't faring any better, showing a similar sea of red. Looking at the international situation, the conflict in the Middle East is intensifying, with signs that the US military may directly intervene, adding to the market's unease.
Market Hotspots:
1. A new coin SPX has launched on BN, and at first glance, it sounds impressive—said to be a spin-off from MakerDAO and dubbed the “twin brother” of the Aave lending protocol. However, upon closer inspection, the fundamentals are lacking, relying purely on a bunch of speculative investors to generate hype, much like a house of cards without a foundation.
2. The established public chain ETH has led the plunge, dragging down its ecosystem tokens HYPE, VIRTUAL, SPX, and others, all performing a “free fall,” with grim market conditions.
3. AB on the Bsc chain has suddenly emerged, with its market value skyrocketing to $1.5 billion in a short time, as if on a rocket. There are rumors that this is being operated by Chinese investors, and even more exaggerated, it is said that over 30 leaders from various countries have publicly endorsed it. This spectacle, with its mix of truth and falsehood, leaves one bewildered, unsure of what further developments might unfold.
