2024.11.11. Market Trends——

1) Market Movement

BTC surged to a new high of 80,000, but BTC's dominance rate dropped significantly. Altcoin season is here, with old coins experiencing a rebound. The US stock market is closed on Monday. The Federal Reserve is expected to continue cutting interest rates until July 2026, and based on previous cycles, the rate hikes are likely to end six months earlier, making a bull market probable until the end of 2025.

2) Market Highlights:

1. The public chain ETH rose, and the DeFi sector with old coins like TRB, ALPACA, YFI saw significant increases. The market anticipates Trump returning to power, leading to relaxed DeFi regulations.

2. Meme coins like DOGE, SHIB, NEIRO, MOODENG, GOAT, PIPPIN surged. Musk's political fan coin is the main storyline, with DOGE's market cap reaching 40 billion USD, accounting for about half of all meme coins. Only 20% of the top 500 meme coins outperformed DOGE. Among them, NEIRO is market-making by BN, while MOODENG and GOAT are being market-made by Wintermute.

3. The new public chain SUI surged to a new high, with its market cap approaching 30% of SOL, aligning with the characteristics of a second-tier leader.

4. Old coins like ADA and EOS are rebounding. The founder of ADA may become Trump's crypto advisor. Oversold TON ecosystem coins like X and HMSTR are also bouncing back, with the gaming coin X surging 20 times in a week. The TON ecosystem is primarily market-made by DWF.