Summary
Market Overview:
This week in cryptocurrency, Conflux (CFX), Pudgy Penguins (Pengu), and Ethena (ENA) experienced significant price increases, while Pump.Fun (Pump), Tezos (XTZ), and Sonic (S) faced notable declines. The market showed resilience despite 80,000 Bitcoin movements by long-term holders, and BlackRock’s ETH ETF reached a historic $10 billion in AUM, highlighting institutional interest in Ethereum.
Top Performers:
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Conflux (CFX): Experienced a 30% increase, reaching an all-time high of $0.246, but retraced nearly 80% mid-week. Its structure remains intact, although confidence is shaky.
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Pudgy Penguins (Pengu): Gained 28%, displaying a consistent bullish trend. It broke through key resistance levels and aims for a local high of $0.046.
- Ethena (ENA): Up 24.15%, nearing the $0.60 resistance mark. Despite a minor pullback, bullish momentum remains strong.
Other Noteworthy Gainers:
- Memecoin: Surged 4,445%, leading gains.
- Zora: Increased by 382%.
- Uranus: Rose by 330%.
Notable Decliners:
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Pump.Fun: Fell 34.62%, struggling after its launch amidst a poor ICO performance despite planned buybacks.
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Tezos (XTZ): Dropped 17.23% after a recent spike, facing uncertainty about a potential full breakdown.
- Sonic (S): Down 15% due to failed resistance at $0.40, indicating cooling momentum.
Market Sentiment:
Overall, the market displayed volatility with sharp gains and losses. Investors should remain vigilant, conduct thorough research, and trade cautiously.
