Market situation

-Total market capitalization of the market: $1.52 trillion

#BTCmarket share is 50.4%,#ETHmarket share is 17.3%, and the greed index is 49.

Encryption dynamics

-Celsius unstaked over 200,000 ETH, equivalent to approximately $446 million

- Modular DeFi Layer 2 Mode will receive 2 million OP grants from the Optimism Foundation

-JPMorgan Chase downgraded Coinbase's stock rating, but maintained its price target at $80

-AltLayer released the airdrop details: 3% of the total tokens will be used for Season 1 airdrop, and NFT holders and Altitude event participants will have a relatively large share

-OKX Star responded to the ICE project: Hiding ICE also has the consideration of protecting retail investors, and ICE holders are not restricted

- A high-win ETH whale’s health in Maker is only 1.01, and is on the verge of liquidation

- A whale transferred out ETH worth 46.02 million USD from CEX and pledged it on Lido platform

- Bitcoin halving is expected to take place in April 2024, with less than 90 days remaining

Amid continued volatility in the cryptocurrency market, three outperforming cryptocurrencies — Bittensor’s TAO, Siacoin’s SC, and LEO — have emerged as potential opportunities for investors seeking the best cryptocurrencies to buy today.

Bittensor’s TAO has shown impressive momentum, surging 15.72% over the past week while defying the broader declines seen by most cryptocurrencies over the same period.

Meanwhile, Siacoin’s SC token has once again hit new multi-year highs, driven by strong demand for its decentralized cloud storage platform. After a breakout in 2023, SC will continue to break out to new price ranges in 2024.

LEO tokens have provided stability amid broader volatility, and have also recently held firm at around $3.90. Its ability to maintain its price point even as other cryptocurrencies experience turbulence has caught the attention of investors.

Potential coin analysis:

Ethereum (ETH)

Ethereum (ETH) is on the verge of a major change, with the upcoming Dencun upgrade transitioning ETH from the old calldata system to blobspace. By adopting blobspace for Layer 2 (L2) transactions, it is expected to reduce gas consumption, thereby reducing the burn rate of Ethereum (ETH). Currently, all ETH used to pay the gas base fee is burned.

Ethereum (ETH) is fluctuating between $2,069 and $2,470. The 10-day moving average is $2,463 and the 100-day moving average is $2,126. Ethereum (ETH) has established key support levels at $1456 and $1857, with resistance at $2,659 and $3,059. With the Dencun update approaching, a potential drop in gas fees could boost Ethereum (ETH) usage, potentially increasing network activity.

Cosmos（ATOM）

Developers of the Cosmos (ATOM) ecosystem have proposed a major adjustment to the token’s inflation rate, which now fluctuates between 7% and 20%, with the possibility of dropping to as low as 0%. The move is intended to modify Cosmos’ (ATOM) economic model to align with other crypto networks and consider redirecting fees from user-operated blockchains to Cosmos (ATOM) stakers instead of increasing token supply.

Cosmos (ATOM) is trading in the range of $8.99 to $12.39. The 10-day moving average is $9.78, and the 100-day moving average is $9.45. Support levels are identified at $3.98 and $7.38, while resistance levels are $14.19 and $17.59.

Reducing the inflation rate of Cosmos (ATOM) could have a significant impact, either increasing its value by making it more scarce or unsettling current investors who might withdraw their stake. While reducing the supply could increase the value of the token, there are concerns that this could deter current Cosmos (ATOM) stakers.

Solana (SUN)

Solana (SOL) recently broke through the $89.02 support level, resulting in a significant price swing. Additionally, optimism for the network is growing, especially with pre-orders for the Solana Saga phone reaching 40,000 units - a surge in interest in Solana (SOL) products could indicate a positive shift in market sentiment.

Solana (SOL) is currently trading between $64.84 and $132.36. The 10-day moving average is $92.84, and the 100-day moving average is $68.39. Solana has identified support and resistance levels at $27.97 and $163.01, respectively. The price of Solana (SOL) may find a turning point after breaking the support levels in the near term, which may start an uptrend. The launch of the second series of Solana Saga phones may promote the recovery of Solana (SOL) price.

Sui (SUI)

Sui (SUI) is making significant progress with its upcoming global conference, Sui Basecamp, in Paris. Organized by the Sui Foundation and Mysten Labs, it aims to celebrate Sui (SUI) innovators and how their work is shaping decentralized technology.

Currently, Sui (SUI) is trading in a price range of $0.92 to $1.32. Its 10-day moving average is $1.06 and its 100-day moving average is $1.09, indicating strong upward momentum. Support levels are $0.4 and $0.79, while resistance levels are $1.58 and $1.97. With the launch of Sui Basecamp, providing more exposure and networking opportunities, Sui (SUI) is expected to see substantial growth.