According to the current liquidation map, the market experienced a surge last night, liquidating many shorts. Currently, the market is dominated by bulls, based on Bitcoin's price around $111,200. If the market fluctuates up and down by $2,000 and rises again to around $113,200, it is expected to liquidate approximately $936 million in short positions. Conversely, if the market drops to around $109,200, it is expected to liquidate approximately $1.37 billion in long positions. Bitcoin spot ETF saw an inflow of $15.8 million yesterday, while Ethereum spot ETF saw an inflow of $23.2 million.
In terms of market direction, the short-term outlook is bullish. Following the impact of the Federal Reserve's meeting minutes news last night, the market quickly surged due to favorable conditions, directly reaching around $112,000, also marking a new price high. At the same time, Ethereum and most mainstream altcoins also experienced a surge, breaking out of the boxy fluctuation pattern, making the overall market more positive and active. Personally, I believe the market will continue to rise, so in terms of contract strategies, mainly look to go long on dips, and of course, remember to set stop losses.
Additionally, following Trump's announcement of tariffs on several developing countries last night, the overall impact on the market is relatively small. It is important to note which countries Trump may impose tariffs on in the future, so keep an eye on Trump-related news during this period.
Three altcoins poised for a tenfold increase in the future!
1.UNI
As one of the hottest cryptocurrencies on Polygon, Uniswap's unique selling point lies in its combination of simplicity and complexity: anyone can create a trading pool, while clients can also utilize advanced features of the V3 Vault model, such as concentrated liquidity, smart fee tiers, and efficient routing enabled by UniswapX. The UNI token carries voting rights, allowing holders to vote on upgrades like Uniswap v4/Unichain and control the use of funds, granting them a say in governance. UNI is key for developers, traders, LPs, and DAO members to share ownership, creativity, and participation.
On July 2, Uniswap Labs launched a revolutionary product: one-click swaps based on smart wallets. With just a click, users can utilize the Uniswap web version and wallet, avoiding slippage, downloads, and gas fee fluctuations. Due to the one-click process, the amount of code required for swaps is reduced, gas fees are lowered, and operations are smoother. This gateway to DeFi opens doors for regular users, not just changing the user experience.
In retrospect, UNI has rebounded from a low of about $6.50 in April to around $7 now, technically falling into an 'ascending wedge', which often indicates a slight stop-loss or pullback. Exchange holdings are also increasing, raising the potential for selling pressure, but it also suggests that whales are entering the market. However, bulls are maintaining the price above $7.30, and if the trend continues, the price may rise to $7.80.
Following closely is a milestone that any protocol would be proud of: Polygon's total trading volume on Uniswap recently reached $100 billion. This is a real driving force, not just hype. Uniswap's Layer-2 status is propelled by Polygon users into the top tier of DeFi, known for their low gas fees and high trading volume. Such volume indicates that UNI's pipeline system is being seriously utilized, which is crucial for the protocol's resilience.
2.PYTH
From the price trend, PYTH has risen 6.41% in the past 24 hours, which is a significant increase. Market capitalization has also risen by the same magnitude, not merely due to liquidity issues. Trading volume has grown by 25.65%, indicating increased investor interest and trading activity.
A recent positive development is that Binance decided on July 9 to remove the seed label from PYTH. This indicates that Binance now considers PYTH to be more mature and stable. Removing this label can enhance user trust and attract new users. Meanwhile, PYTH has joined the xStocks alliance, bringing its oracle services to Kamino Finance and Jupiter Exchange. This helps PYTH expand its position in the tokenized stock market. Additionally, its Express Relay tool reduces slippage and trading costs, making it more attractive to heavy users.
From a technical perspective, PYTH's MACD histogram shows a bullish signal at 0.001082. The price is above its 7-day simple moving average and exponential moving average, with these moving averages currently forming support levels. However, the long-term 200-day average is far above this token, indicating that resistance remains in the future. The RSI is between 46 and 48, showing that there is still room for upward movement.
The rise in PYTH's value is attributed to its enhanced credibility, more practical use cases, and robust technical indicators. Although long-term resistance remains, the fact that Binance lifted the risk warning alleviates selling pressure. Investors are watching whether PYTH can surpass competitors as it ventures into the traditional financial sector.
3.MANA
A recent highlight for Decentraland is the Career Quest event scheduled for July 16-17. This Web3 job fair includes workshops and collaborations with Bondex and Metana, expected to enhance Decentraland's visibility as a metaverse platform. These collaborations may bring lasting utility and visibility, rather than mere speculation.
CoinMarketCap released a price forecast on July 9, stating that if it breaks through resistance, MANA could reach $0.5612. Meanwhile, foreign exchange reserves are decreasing, indicating that investors are holding rather than selling. This accumulation is usually a good sign for future price trends.
Analysts such as Waleed Ahmet believe that the recent bearish trend may be reversing. They also mentioned that the integration of Decentraland with artificial intelligence could support sustained growth. The neutral fear and greed index indicates a stable market environment, and new trends may emerge.
MANA's trend is driven by speculation related to upcoming events and supported by technical indicators. However, broader market forces, such as Bitcoin's dominance, still limit the rise of metaverse tokens. Whether MANA can continue to rise may depend on the participation generated by career exploration activities.
As the metaverse space heats up again and other competitors join, it is crucial for Decentraland to retain user attention and grow its ecosystem. Given the warming market sentiment, strong promotional activities, and technological recovery, MANA is expected to become the next explosive cryptocurrency.
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