Conflux Token price

Orange Evening Interpretation 9.23 Today, Bitcoin has once again followed a V-shaped trend, dropping from 113k in the morning to 111k, and then rebounding in the afternoon, currently back around 113k. The price movements of Bitcoin in the past two days have been characterized by sharp rises and falls. With no macro risks currently in sight, the U.S. stock market has even reached all-time highs for three consecutive days, indicating a favorable macro environment. Therefore, this trend seems to be a deliberate effort by the whales to clear leverage. This can be seen from the liquidation amounts; over the past 24 hours, the total liquidation across the network exceeded $1.7 billion, the highest single-day figure since the 519 incident in 2021. This reflects the level of market leverage. Of course, this is also related to the trading frenzy led by $aster in the perp DEX, where many retail investors may have gotten caught up in the excitement and ended up holding onto their positions unwilling to close them. Overall, from a purely downward perspective, Bitcoin has only dropped from 114k to around 111k, which is still within a reasonable range. However, from the perspective of liquidation volume, it seems like someone is collecting contract players from a god's-eye view. Leverage is indeed an important component of a bull market, but most contract players are just fuel. Everyone has seen how disastrous it was for the four major hype contract players—James, Insider Brother, the ETH whales, and Aguilia traders—over the past few months. Last night, Big Brother Magi also recognized his losses and closed his position, losing 20 million. You can actually track the whales on X who have been trading contracts to see what their win rates are. This round is about the perp DEX market, not about playing contracts, but about being a ruthless volume machine. You are in it for the potential airdrops and rewards from the platform, not to gamble. On a macro level, a large number of Federal Reserve officials came out last night to pour cold water on the market, which may have had some impact on the crypto market. For example, Bostic said there was no reason to further cut interest rates, expecting only one cut this year; Musalem stated that there is limited room for further cuts and does not support additional cuts; and Hamark warned of inflation risks while cautiously unwinding restrictive policies. Although Trump’s internal ally in Milan was still making bold claims last night, calling for a 125 basis point cut this year and continuing to cut in 2016/27, the last FOMC meeting has already established that Powell still has the support of most board members. Therefore, the statements from various Federal Reserve officials last night may serve as a preview for Powell's speech tonight, which is certainly hawkish for the market and may even affect the CME's predictions for an October rate cut. Currently, the CME predicts a 90% probability of a rate cut in October, and the crypto market's overreaction may be preemptively digesting Powell's speech tonight. If the probability drops to around 70%, the market will feel the pain. Additionally, this week, the PCE inflation data will be released, which will also impact the expectations for an October rate cut. In terms of funding, both Bitcoin and Ethereum ETFs saw capital outflows last night, with outflows of 360 million and 79 million, respectively. Additionally, the crypto stocks also experienced a general decline last night, which is contrary to the overall new highs in the U.S. stock market, indicating that interest in crypto from stock market funds is waning. This could also be due to Nvidia's investment of 100 billion in OpenAI, which has drawn market attention to the AI sector. However, the good news is that last night, BMNR increased its holdings, buying 260,000 ETH in one go, compared to just over 80,000 last week. This week has indeed been strong, but other institutions have not kept up. Currently, the Ethereum treasury only has BMNR aggressively buying, while the Bitcoin treasury has MSTR and Metaplanet working together, which is still a bit lacking. The Solana treasury is even worse off, with the top holders stopping their purchases in the past week, and only the newly established Helius buying 760,000 SOL, which is why SOL has been hit the hardest recently. The overall trading volume of the XRP and Doge ETFs is too small, leading to their mediocre performance. Finally, regarding the altcoin market, $aster is performing strongly, having broken through 1.7 again, seemingly on the verge of hitting an all-time high. The second round of airdrop plans has also been released, with 500 million U being airdropped over two weeks, which is a very tangible incentive, possibly more appealing than other DEX's unknown airdrops. Additionally, the fee reduction and buyback plans for $aster have also arrived, and this strategy is reminiscent of $bnb in 2017. It’s no wonder it’s Binance’s favored child; capturing the market early is crucial, and getting users accustomed to playing on $aster is the most important thing. I have to admit that this team has a grand vision. However, the perp track is still a situation of one strong player among many, with Light and Edgex having open contracts in the 1 billion range, which is even larger than $aster. This might be the reason they haven’t launched an airdrop, but these two should not be forgotten as they are still at the table. Last night, $0g launched and directly took off, with prices soaring to $7, and an FDV of 7 billion, which is 10 times higher than $cfx. This is truly a new generation version. The Koreans are the main trading force this time, with a strong gambling tendency. $avax, $near, $cro, and $hbar, which are U.S. concept coins, have also taken off. These projects all fit into the categories of ETF or treasury coins, and their peak declines are less than 5x or even 3x, making them the most promising projects in this round. The AI sector has also taken off, with $fet and $tao ranking high in terms of gains, and the leading coins in quality tracks remain the main theme of investment in this round.

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🔻 Top 10 Crypto Losers (24h): 1. #PI: $0.28 (-20.35%) 2. #PUMP: $0.01 (-11.43%) 3. #CFX: $0.15 (-10.62%) 4. #WLFI: $0.21 (-10.18%) 5. #TIA: $1.49 (-9.10%) 6. #IMX: $0.68 (-8.82%) 7. #LDO: $1.10 (-8.46%) 8. #CRV: $0.69 (-8.06%) 9. #TON: $2.79 (-7.98%) 10. #FLOKI: $0.00 (-7.65%)