This weekend was too boring, and there was not much movement in the crypto market, it can simply be described as "dead calm".
1> $btc didn’t move this weekend, $ETH was even worse, continuously dropping, falling to around 1800 dollars, almost breaking 1800 yesterday. The ETH to BTC exchange rate hit a low of 0.02 this year, compared to 0.05 last year, dropping more than half in less than a year, a definite "diamond mine apocalypse".
No matter what coin you hold, as long as it’s not BTC, it’s basically losing value now. If Ethereum doesn’t rise, everyone just targets Vitalik with criticism, but if it does rise, he’ll probably be called "the lovely little V" again. However, the Ethereum Foundation hasn’t sold any coins recently, which might reduce selling pressure, so that’s a small ray of hope.
2> The BNB chain isn’t doing much better either, weekend trading volume has shrunk significantly, dropping from 1.8-2 billion to below 1 billion. Just two days ago it was fine, but it’s down 44% this week, and the hype is gone. BNB price has also slid to over 600, Launchpool yields have been cut from 2.5% to below 0.5%, and with a slight fluctuation, the holding cost disappears, it’s really a headache to hold.
Newly launched Meme coins are even worse, Banana has only a 53 million market cap, Mubarak dropped from 200 million to 60 million, and TUT is only 35 million, down 21%. Previously, it was normal for a Meme coin to have a market cap of three to five hundred million, but now it’s less than 1/10 of that, the market can be said to have been drained by Trump and Milei.
3> AI and Meme coins have also crashed severely. The recently popular Ghibli-style AI token fell from 40 million to 7 million, an 85% drop, and other AI coins like Kaito and Virtual generally dropped 30%-40%. The only one that rose, Fart, doubled but was just a flash in the pan.
The entire market has no one willing to hold coins long-term, everyone is treating it like paper hands, with more and more projects coming up but no one to support them, naturally getting worse and worse, and forget about hundredfold coins.
Right now, the market is a big "bear", Ethereum is weak, the BNB chain is cold, and Meme and AI coins are crashing. Just continue to endure.
