🚀 Market dynamics
1. Bitcoin (BTC) price broke $84,537, up 1.91% today.
2. Bitcoin price rose today, reaching a high of $85,526, with market sentiment warming up, focusing on the key resistance level of $85,000.
3. Ethereum (ETH) is currently priced at $1,876.28, up 2.22% today.
4. Ethereum price increased, reaching a high of $1,925.4, with the market focusing on the upcoming spot ETF approval progress.
5. Binance Coin (BNB) price slightly corrected, currently at $601.55, down 1.19% today.
BNB price slightly corrected, reaching a low of $601.55, and investors should monitor market fluctuations.
⚡ Alpha level information gap
1. Circle submits IPO application, planning to list on the New York Stock Exchange
Stablecoin issuer Circle has submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission, planning to list on the New York Stock Exchange. This move is seen as an important step for the cryptocurrency industry towards mainstream financial markets.
2. Binance responds to ACT crash incident
Regarding $ACT The token price plummeted, Binance stated that 4 users sold ACT tokens worth over $1 million in a short period, causing the price to drop. Subsequently, some users' contracts were liquidated during the decline, triggering price fluctuations in other tokens.
3. Binance Wallet's new TGE event oversubscribed by 247 times
Binance Wallet's latest token generation event (TGE) was oversubscribed by 247 times within just 10 minutes of opening, showing the market's high interest and participation enthusiasm for new projects.
4. Mainstream CEX and DEX funding rates indicate a bearish market sentiment
Current funding rates on major centralized exchanges (CEX) and decentralized exchanges (DEX) show that the market remains bearish, and investors should proceed with caution.
5. The TRUMP token will unlock 40 million coins on April 18
$TRUMP The token is scheduled to unlock 40 million coins on April 18, equivalent to approximately $413.2 million. Investors should pay attention to the potential impact of the unlock on market prices.
(Meme coins plummet across the board by 50%, did Binance's April Fool's joke go a bit too far?)
On April 1, the crypto community experienced an 'April Fool's Day storm', but this joke seems to have gone a bit overboard.
Meme coins plunge,$GUN leading the crash!
Yesterday, the Meme sector faced a wave of 'bloodbath', with multiple popular Meme coins plummeting 30% to 50% overnight. Among them, GUN was the first to crash, causing the community to explode with speculation about whether there were major players dumping, and even conspiracy theories about Binance's market makers liquidating positions. Although this speculation has not been officially confirmed, market panic has rapidly spread, bringing down the entire Meme sector.
Binance's 'announcement kill' triggered a secondary market crash
Just as the market was still digesting the GUN incident, Binance issued another 'mysterious announcement'. Although the announcement did not mention the Meme sector, market sentiment had already collapsed, leading investors to sell off their holdings, resulting in several Meme coins entering free fall mode. Notably, the previously surging $DOGE, $PEPE, and $FLOKI all fell more than 30%, leaving many FOMO funds trapped at the peak.
Is it the market's fault, or is it Binance's 'April Fool's Day egg'?
Interestingly, this crash happened on April 1. Is Binance also playing an 'April Fool's game' with the market? However, from trading data, it seems that this drop in the Meme sector is not merely a 'false alarm', but there are signs of some large accounts or institutions positioning themselves in advance.
How to restore market sentiment?
Currently, the panic index in the Meme sector has soared, and there may still be fluctuations in the short term. However, historical experience tells us that the decline of Meme coins is often accompanied by greater rebound potential. As market sentiment recovers, this recent bloodbath might also be an opportunity to accumulate tokens.
