Market Dynamics on May 7: U.S. stocks rise, optimistic sentiment continues
I. Market Fundamentals
1. BTC is consolidating, while ETH's Gas fee hits a new low for the year.
2. U.S stocks are rising, maintaining an optimistic market atmosphere.
II. Market Highlights
1. Solana's public chain is on the rise, and JUP, WIF, BOME and others in its ecosystem are also increasing accordingly. The mining project ORE won in the Solana Hackathon competition and doubled its price within a day. ORE uses linear mining method and it is estimated that it will take 40 years to mine all 21 million tokens with no upper limit on token supply.
2. ENA steadily grows. It is speculated that exchanges Bn, OKX and ByBit are major investors of ENA which may introduce USDE trading pairs.
3.AI project Commune.AI has seen a significant increase in price doubling its value.Commune.AI is a fork of TAO without pre-mining operations to ensure fairness.
4.The air-drop earnings from the on-chain credit rating platform Spec have been quite substantial with individual accounts receiving hundreds of USDTs.DeFi platform Debank might conduct snapshot air-drop activities; Rabby wallet developed by Chinese team cooperates with Debank .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin dips below $100,000, memecoins plummet as market responds to US tariffs
The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.
PEPE Shows Strong Bottoming Signals—Is It Gearing Up for Another 10x Surge Like in February/March 2024?
Algorand (ALGO) Testing Key Bullish Pennant Support: Will It Make a Bounceback?
Why Major Altcoins Including XRP, XLM, and HBAR Are Facing a Significant Decline—Is a Bounceback Ahead?