Chainfeeds Summary:
Is Trumpcoin already the peak of the MEME coin craze, and should we turn our attention to SocialFi?
Source:
https://www.techflowpost.com/article/detail_23282.html
Author:
Tulip King
Viewpoint:
Tulip King: Bitcoin has been consolidating near the top of its range, indicating a strong rather than weak market sentiment. In the current situation, around $10,500 seems to be a key level for Bitcoin. This level reflects the market's confidence in the long-term development of cryptocurrencies, while also avoiding the risk of excessive optimism. Although we have not seen some major news - such as a strategic Bitcoin reserve (BSR) or comprehensive tax incentives for cryptocurrencies - the market has still made some small progress. For example, the pardon of Ross Ulbricht is a low-key but important signal that the Trump administration has not completely abandoned its support for cryptocurrencies. While the improvement in regulatory transparency has been slow, the overall trend is positive. Another positive signal is the continued growth in stablecoin supply. Historically, the increase in stablecoin supply has often been a reliable precursor to increased institutional interest and market liquidity. It is worth pondering: who is minting these stablecoins on such a large scale? The continued growth in stablecoin supply is sending a bullish signal. The total market capitalization of cryptocurrencies is also continuing to grow. In summary, the current market is not a doomsday scenario. The lack of significant volatility in the altcoin market is largely due to the lack of a clear narrative direction. This is the so-called "narrative risk" - with the market losing its direction, capital may flow into the wrong investment themes, increasing the risk. The recent MEME coin craze is a good example. Although Trump did not announce a strategic Bitcoin reserve (BSR) or other major news, he did launch a MEME coin. Subsequently, Melania also launched a similar token, and there were even rumors that Barron might be involved. Traders have shown great enthusiasm for these opportunities, and I am no exception.
Source