October 21 Market Update: BTC approaches $70,000, altcoins generally rise, Trump promises significant rate cuts if re-elected
Bitget2024/10/21 02:20
I. Market Dynamics
1. BTC has risen close to 70,000, with altcoins generally rising. Hot money on the chain flows back from sol chain to eth chain.
2. U.S stocks are rising, Trump reiterates that he will significantly lower interest rates if elected.
II. Market Focus
1. Old NFT and DEFI coins such as APE and DYDX have surged greatly. APE is launching its own blockchain (the L3 of ARB Chain) for PUMP-style MEME public chains, but leading MEMEs on the chain like CURTIS quickly halved in value. Many other old DEFI, NFT and public-chain coins like DYDX also plan to imitate this trend which is similar to previous coin launches with inscriptions; however liquidity remains in SOL and ETH chains while others experience a wave of outflow.
2. Public chains ETH and SOL are rising in value; SPX 'shitcoin' on ETH chain fully recovers as hot money flows back from SOL chain to ETH chain showing a clear seesaw effect . Meanwhile SOL's 'shitcoins' GOAT, GNON etc., plummeted sharply due to MOONSHOT retail investors contributing both rise and fall.
1
0
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.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$67,311.26
-1.86%
Ethereum
ETH
$2,666.25
-1.30%
Tether USDt
USDT
$0.9994
-0.03%
BNB
BNB
$597.6
-0.17%
Solana
SOL
$165.77
+3.33%
USDC
USDC
$0.9998
-0.01%
XRP
XRP
$0.5456
+0.19%
Dogecoin
DOGE
$0.1422
+0.91%
TRON
TRX
$0.1583
+1.22%
Cardano
ADA
$0.3574
-0.93%
Bitget pre-market
Buy or sell coins before they are listed, including SCR, MAJOR, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now