According to the current liquidation map, there is considerable short selling pressure in the market. Based on the current Bitcoin price of around $105,500, if the market fluctuates another $2,000 up, reaching around $107,500, it is estimated that the cumulative amount of short liquidations could be approximately $1.19 billion. Conversely, if the market drops to around $103,500, the cumulative amount of long liquidations is estimated to be about $800 million.
Market direction: Short-term sideways movement is expected. It can be observed that from last Saturday and Sunday, the overall market has been in 4H and 1D level sideways fluctuations, and most altcoins have also shown general volatility, mainly awaiting a change in the market trend. Therefore, market sentiment appears to be neutral.
I personally think that this week the market will mainly experience more fluctuations and sideways movement, as there are quite a few news events this week and the market is still mainly in a wait-and-see mode. Additionally, I would like to specifically mention that it is advisable to mainly focus on Bitcoin, while I recommend avoiding other altcoins, as the overall liquidity of altcoins is not very sufficient, especially for smaller coins where liquidity is even worse. If a large holder decides to sell, it can easily lead to significant downward pressure.
The best altcoins with a potential 10x increase!
1.CFG
Centrifuge is a decentralized asset financing protocol. It links real-world assets (RWAs) like invoices and real estate to DeFi liquidity. This enables businesses to tokenize tangible assets and obtain financing through on-chain liquidity pools. This means companies can access funding more broadly without intermediaries. Centrifuge connects traditional finance and DeFi, helping businesses unlock value from previously hard-to-sell assets.
The CFG token provides security and power to the Centrifuge network. It can be used for governance, staking, and paying transaction fees. Holders play an important role in protocol upgrades and decision-making, making CFG crucial to the decentralized structure of Centrifuge.
Centrifuge (CFG) is priced at $0.1919, up 14.56% today, with a 7-day increase of 6.91%. The trading price over the past day ranged between $0.1685 and $0.2065, showing strong momentum as RWA protocols regain investor attention.
Centrifuge has just announced that its platform has financed over $1 billion in real-world assets, thanks to its 'strategic' and 'relentless execution'. This milestone highlights Centrifuge's growing influence in bridging traditional finance and DeFi. For investors, breaking the $1 billion mark signifies the strong appeal and trust of the platform model, making it a serious competitor in the tokenized asset space.
2.GMX
GMX is a decentralized exchange (DEX) offering spot and perpetual contract trading. It allows trading directly from crypto wallets with low fees. GMX operates on the Arbitrum and Avalanche platforms, providing smooth leveraged trading without centralized control. Its 'real yield' generated from user fees makes it highly favored by DeFi traders.
GMX tokens can be used for governance and staking, allowing users to earn a portion of the trading fees from the platform. Stakers can also earn esGMX (staked GMX) and other rewards, creating multi-layered passive income for long-term holders.
The price of GMX is approximately $15.08, up 2.84% today, with 15 out of the last 30 days showing increases (50%). The price range over the past day was between $14.61 and $15.33, maintaining its position among the top DeFi perpetual trading platforms amidst turbulent market conditions.
GMX recently launched the first week of its 'Chain Reaction' series, highlighting itself as one of the pioneering applications on Arbitrum. The tweet emphasized that GMX's cumulative trading volume has approached $300 billion.
GMX has solidified its reputation as a leading and trustworthy player on the Arbitrum platform thanks to its massive trading volume. This metric emphasizes its stability and active network activity, indicating that GMX remains a heavyweight to watch in the DeFi space.
3.IMX
Immutable X (IMX) has seen a significant increase in trading volume recently, with NFT sales soaring by 156%, reaching $41.7 million as of June 14, even surpassing Ethereum at one point. This growth is primarily due to the launch of the 'Guild of Guardians', which initially sparked strong reactions.
However, sales have since dropped to $24.7 million, indicating that market momentum has peaked in the short term. Despite IMX's impressive weekly trading volume, its 24-hour trading volume has decreased by 17% to $22.8 million.
From a technical perspective, the market sentiment for IMX remains bearish, with a 14-day RSI of 49.56, indicating a neutral market outlook with the potential for sideways fluctuations. The ratio of trading volume to market cap is 0.0728, indicating high liquidity. If buying pressure re-emerges, the price will experience rapid fluctuations.
More noteworthy is that IMX continues to advance in infrastructure. MEXC will soon support deposit and withdrawal functions for Immutable zkEVM, allowing users to transfer IMX without the need for bridge transfers, thereby simplifying the user experience and supporting its long-term application.