Daily News | WLD Led AI Sector to Collective Rise, ALGO Increased Over 200% Within the Month

Crypto Daily Digest: Over 90% of ETH holders make profits, Trump’s election victory greatly stimulates Bitcoin holdings

Yesterday, the US stock market was closed for Thanksgiving, and there was no inflow or outflow of funds in spot ETFs.

IntoTheBlock: 90.8% of ETH holders are currently profitable

IntoTheBlock posted that “90.8% of ETH holders are currently profitable, the highest level since June.

9.2% of ETH holders are still in a loss making state, with their tokens accounting for only 2.8% of the total supply. This indicates that as ETH continues to rise, the potential selling pressure from this group may have limited impact.”

CryptoQuant CEO: Bitcoin dominance unlikely to decline rapidly

CryptoQuant CEO Ki Young Ju stated in a post that considering its growth rate, Bitcoin‘s dominance is unlikely to decline rapidly. During the 37% increase in Bitcoin’s market cap, large-cap Altcoins rose by 16%, while small and medium-cap Altcoins rose by 10%. The only time small and medium-cap Altcoins surpassed Bitcoin’s market cap growth was during the Meme season in April.

Since Trump’s election victory, the open interest in Bitcoin futures futures significantly increased, exceeding $60 billion

According to The Block, since Trump’s victory on November 5, the open interest in Bitcoin futures has significantly increased, rising from $39 billion on November 5 to the current $60.9 billion, indicating an increase in trading activity and market speculation. But analysts believe that leveraged trading will not face the risk of an imminent market correction.

Analysts say that the increase in open interest futures seems to be a natural growth, driven by expectations of future price appreciation. Leverage accumulation is a common tool used by traders, including institutions, to plan for expected price trends.

It also pointed out that as of November 22, the number of open futures has decreased, especially at the level around $94,000, with a large number of pending orders being uted. And it stated that it believes there is no abnormality in the recent accumulation of leverage, and the price backtesting in the $93,000 area is a normal correction.

Market Trends: The AI sector collectively rose, with the well-established public chain ALGO experiencing a monthly increase of over 200%

Market Hotspots

The AI sector saw a collective increase in WLD, FET, THETA, and more. The Worldcoin App has over 17 million global iris verification users, with WLD currently having a circulating market cap of $1.8 billion and a total circulating market cap of $26 billion. Additionally, tens of millions of dollars in tokens are being unlocked daily; It remains to be observed to what extent WLD can rise with the support of AI narrative and low circulation high FDV;

The well-established public chain ALGO has surged by 20%, with ALGO increasing by over 200% since early November; The ALGO team was founded in 2017 and the token was issued in 2019, with a historical high price of $3.44. Currently, the price has fallen by 90% compared to the historical high point; In the hot spot of the public chain track in the market, ALGO achieved a 20 fold increase in the previous bull market, with a current circulating market cap of $2.85 billion, and the upward potential is estimated to be limited.

Mainstream Coins

BTC is consolidating narrowly and still waiting for an opportunity to break above $96,000, as there is no capital inflow into the BTC ETF during the Thanksgiving holiday in the US stock market;

ETH experienced a slight decline, maintaining above $3,550 and receiving strong support in the monthly mid track, indicating a promising future for ETH;

Altcoins generally rose, but the hotspots are scattered, and the AI sector remains one of the main narratives in the market.

Macro news: US stock market closed for Thanksgiving, with no updated data or views in the market