Has the risk of decline in the cryptocurrency circle been alleviated? Is now the time to buy altcoins that could potentially increase in value by 100 times? Signs of a comprehensive rebound in the cryptocurrency space have emerged; what should be the next steps?
After experiencing a difficult period, one of the characteristics of a bull market is the frequent sharp declines, which provide liquidation opportunities for highly leveraged long contracts, while short sellers take profits during the crash and switch to long positions, marking the beginning of a new market trend. As discussed yesterday, do not fear sharp declines; hold onto your coins steadily, and if you have excess funds, you should boldly buy the dip.
Yesterday's turnaround was driven by positive PCE data and the Trump family's WLFI project increasing its holdings in ETH.
Currently, ETH nearing $3600 may encounter some resistance, while the second resistance level is close to $4000. For long-term spot positions, it can be held continuously, with expectations to reach $8000 by March next year.
The secret to trading cryptocurrencies lies in being greedy when others are fearful; when panic reaches its peak, it is the best time to enter. One must be bold enough to buy what others are afraid to buy.
Here are three altcoins that could potentially increase in value by 100 times in the future and are worth paying attention to:
• MOVE
Movement (MOVE) is the native token of a second-layer blockchain based on Ethereum, recently outperforming market trends with a significant price increase. On December 20th, the MOVE price peaked at $0.877, with a market cap nearing $2 billion. The price increase was driven by a 63% rise in daily trading volume, exceeding $1.6 billion. The open interest in the MOVE futures market also doubled within a day, from $56.03 million to $103.93 million, indicating growing interest among traders.
The surge in MOVE's price seems to stem from its recent collaboration with the renowned digital asset custody platform BitGo. This partnership facilitates the integration of Wrapped Bitcoin (WBTC) into the Movement mainnet, enhancing its decentralized finance (DeFi) products. With the support of WBTC, Movement aims to expand asset utilization, increase liquidity options, and enhance its appeal within the DeFi ecosystem.
Another catalyst for MOVE's growth is the recent launch of its mainnet. The native token of Move is supported by the MoveVM architecture and debuted alongside an $830 million airdrop targeted at early adopters and community members. This strategic approach helps to drive initial interest and adoption. The token has been listed on major exchanges such as Binance, Coinbase, OKX, and Upbit, further expanding its visibility and trading activity.
• TON
Toncoin (TON) currently ranks 13th by market cap, with mixed performance over the past year. Its market cap is approximately $13.16 billion, with a circulating supply of 2.55 billion tokens. Despite a price drop of 7.57% to $5.04 in the last 24 hours, its trading volume increased slightly by 1.82% to $568.34 million, indicating continued interest from market participants.
The integration of blockchain with Fordefi introduces enhanced security features for institutional participation in decentralized finance (DeFi). This development may boost the adoption of DeFi by institutional participants seeking secure engagement. Meanwhile, even amid a generally sluggish cryptocurrency market and liquidations, whale activity in Toncoin has increased, with large transactions up by 80%, reaching 1.68 billion TON.
Another significant development for Toncoin is the planned launch of the TON Space custodial wallet. This initiative aims to attract 30% of Telegram users to join the Toncoin ecosystem by 2028, which will greatly expand Toncoin's user engagement and utility.
Although the total supply of Toncoin has significantly increased and institutional investors have shown strong interest in it, its price fluctuations reflect broader market challenges. Integration efforts and increasing whale trading suggest that trust and activity have risen, but the long-term success of its initiatives will depend on continued adoption and the stability of the broader cryptocurrency market.
• LDO
Lido Finance achieved a significant milestone in its fourth year of operation. The platform reported a net profit of $5 million for 2024, with revenue of $99 million and costs of $94 million. Crypto consulting firm Steakhouse Financial confirmed that this marks a turning point in Lido's history.
Liquid staking services are becoming increasingly popular among retail and institutional investors, driving Lido's remarkable growth. As of January, the total locked ETH on the Lido protocol grew by 5%, reaching 9.81 million ETH. Lido's stETH product allows users to stake ETH while maintaining liquidity, and it continues to be favored by users.
Lido's native token LDO has also achieved significant gains. Over the past 30 days, it has surged by 33.36%, climbing to $1.53. In just the past 24 hours, its trading volume increased by 38.50%, reflecting the growing demand for Ethereum staking. Although its market cap has slightly decreased to $1.37 billion, these figures highlight Lido's increasing influence in the staking market.
Meanwhile, Lido Finance recently terminated its services on the Polygon POS network. This shift allows the team to focus on the Ethereum ecosystem. Discussions on the Lido DAO forum and governance votes by LDO token holders indicated that scalability challenges on Polygon were the primary reason for this change.
Additionally, Lido has introduced a community staking module, allowing users to become node operators on the Ethereum mainnet without obtaining permission. This move reinforces Lido's commitment to decentralization and expands opportunities for community participation in Ethereum staking. The Musk-themed dog token p͟͞u͟͞p͟͞p͟͞i͟͞e͟͞s͟, as a conceptual project on the Ethereum chain, is gradually gaining attention, with significant potential for future development, worthy of attention and research.