Market trend:
The market continued to weaken and lacked hot spots. Grayscale continued to sell BTC, US stocks fell, and the US dollar index rebounded. December retail data showed that the US economy was strong, hitting the market's expectations of a recent interest rate cut.
Market hot spots:
Altlayer, a new IEO project on bn. ALT is a modular infrastructure that helps B-side customers issue rollups with one click, similar to the SDK of Cosmos. Based on the OP Rollup technology upgrade, it mainly provides customized services for the EVM ecosystem. There are 2 rounds of financing, the first round is valued at 8000WU, the second round is financing on Bn, and there are airdrops for retail investors. Manta will be launched at 18:00 today.
The public chain sol rebounded, and the ecological honey, pyth, myro, etc. rose sharply
- Honey's price tripled after listing on Coinbase
- pyth starts staking and airdropping.
Tugou meme collapsed, smiley, zuzalu, troll, etc. plummeted. Smiley plummeted 70% in one day
Potential coin analysis:
SEI
Project Sei is a dedicated layer-1 blockchain designed specifically for trading. It introduces innovative methods for scheduling trades, processing blocks, and parallel tasks, all tailor-made for exchanges. In addition, Project Sei features a highly optimized order placement and matching engine integrated directly into the blockchain.
Sei's current price is $0.797068, with a trading volume of $1.08B in the past 24 hours. The market cap is $1.93B, and the market dominance is 0.11%. The recent price increase is 1.33%.
Sei has a circulating supply of 2.43B SEI and a max supply of 10.00B SEI. It ranks 10th among Proof of Stake coins by market cap and 25th in the Layer 1 space.
Sei has had strong performance over the past 30 days with 17 green days, or 57% of the observation period. This ongoing positive trend indicates strong and potentially bullish market sentiment.
Additionally, Sei has high liquidity, which is reflected in its large market cap. This liquidity indicates healthy levels of trading activity and investor interest, contributing to the stability of the token.
Looking ahead, the general positive trends, coupled with the liquidity of the token, position Sei well for potential continued growth and positive price movement in the near term. Investors may find current market conditions favorable for further opportunities within the Sei ecosystem.
Sui
Sui is a unique blockchain and smart contract platform created specifically to enable everyone to quickly, privately, and securely take ownership of digital assets. It uses the Move programming language and an object-centric model to enable fast processing, fast finality, and a variety of on-chain assets.
Due to its scalable processing and storage, Sui can handle many applications at high speed and low cost. This is a big leap forward for blockchain technology, providing a platform for creators and developers to build fantastic and user-friendly experiences.
Sui Crypto is currently priced at $1.29 with a 24-hour trading volume of $1.05 billion, a market cap of $1.42 billion, and a market dominance of 0.08%. In the past 24 hours, SUI price has fallen by -0.59%.
The Sui cryptocurrency has a circulating supply of 1.1 billion and a maximum supply of 10 billion. The Sui cryptocurrency is currently ranked 29th in the Layer 1 space in terms of market capitalization.
Maker (MKR)
Maker (MKR) started the year on a bullish trajectory, acquiring 32,759 MKR tokens, equivalent to approximately $66.66 million. Ten wallets collectively led this significant move, accounting for 3.55% of MKR's circulating supply. Interestingly, these tokens were withdrawn directly from trading platforms, suggesting that these platforms are deliberately reducing the availability of tokens.
On January 15, a transaction occurred where a user withdrew 12,103 MKR, worth up to $24.63 million. This further emphasizes the trend of accumulating MKR tokens. The large-scale accumulation marks a shift in investor sentiment and shows that this investor group has a firm belief in the positive trajectory of MKR prices.
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Furthermore, the withdrawal of MKR tokens from exchanges tends to stimulate increased demand due to the reduced token supply. Moreover, Maker has outperformed 83% of the top 100 crypto assets over the past year, outperforming Bitcoin and Ethereum. Moreover, its current trading position is above the 200-day simple moving average, adding another positive indicator to its performance.
Maker ranks 6th in the DeFi token space and 13th in the Ethereum (ERC20) token space. With a maximum supply of 1.01 million MKR and a circulation of 922,137, Maker exhibits high liquidity according to its market capitalization.
Additionally, Maker is actively traded on Binance. The token has an annual inflation rate of -5.68%. This negative inflation rate means that the overall supply of MKR tokens is decreasing, which may help it maintain its value.
ARB
Competition in the layer 2 scaling space has been fierce over the last year. Arbitrum (ARB) has maintained its lead with impressive speeds and a strong network. This makes Arbitrum coin one of the best cryptocurrencies to buy.
Since hitting the $0.770 support level in October 2023, ARB has risen by more than 200% and hit $2.35 in October. In the last month, the price of Arbitrum coin has increased by 95%. While ARB is retreating along with the rest of the cryptocurrency market, analysts expect it to grow in 2024. One of the main reasons for the bullish sentiment on Arbitrum is the massive growth of the network. The total value locked (TVL) of the network recently surged to $2.59 billion, making it the fourth largest DeFi network. With no signs of slowing down, analysts expect ARB to soar in 2024.
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