May 16 Market Highlights

Market Overview

The price of Bitcoin is weakening, leading to a decline in altcoins. FTX's debt repayment plan starting on May 30 may affect capital flow, while fluctuations in the US stock market have increased risk aversion in the market.

Focus Areas

Blockchain Games: The blockchain transformation project Nxpc of 'MapleStory' is gaining attention, with official investment chips concentrated, but gold mining earnings are below expectations, potential remains to be observed.

Meme: Startup is rising against the trend due to KOL endorsements, and Useless relies on holdings from the founder of the Bonk ecosystem, resulting in high speculation risk.

New Projects: The BN wallet TGE project Alaya AI is launching, focusing on AI data labeling, performance is yet to be evaluated.

Risks: Moodeng and Launchcoin have plummeted, smart money may be withdrawing, caution is advised for market shifts.

BTC/ETH Market

BTC and ETH consolidated yesterday, daily indicators are overbought, and horizontal trading is expected within the day.

BTC support levels are 102500 - 103000, resistance levels are 105000 - 106000;

ETH support levels are 2450 - 2500, resistance levels are 2650 - 2700, entry may be considered.