Crypto Market Weekly Report: Positive US Economic Indicators, Active Alts Market

Market Overview

This week, the cryptocurrency market is showing a volatile trend. U.S. economic data is performing well, inflation expectations are further lowered, and the U.S. dollar index is strengthening. Global capital continues to flow into the U.S. stock market, while crypto assets are performing relatively poorly.

Bitcoin prices are fluctuating downward, while Ethereum remains relatively strong. The alts market is generally performing flat, but some hot projects have seen significant increases. Market attention is focused on the Ethereum ecosystem and related tokens.

Main Asset Performance

1. Bitcoin: Price fluctuates and declines, market sentiment is cautious.

2. Ethereum: The ETH/BTC exchange rate strengthens, benefiting from ETF expectations.

3. LDO: As the leader in Ethereum staking, it is favored by the market.

4. ZK: Ethereum Layer 2 solution, market performance is average.

5. ZRO: A cross-chain bridge project with a market value close to similar competitors.

Market Data Analysis

1. On-chain activities:

   • Trading volume continues to shrink, and investor interest has declined.
   • The market value of stablecoins remains flat, and the trend of capital inflow is slowing down.
   • Institutional funds experienced a net outflow, while Ethereum attracted funds against the trend.

2. Futures Market:

   • The funding rate has slightly decreased, while long leverage remains relatively high.
   • BTC futures open interest continues to decline.
   • The futures long-short ratio is 2.3, indicating a high sentiment of retail investors buying the dip.

3. Spot Market:

   • BTC and SOL are both showing weekly adjustments.
   • ETH, TON, and BASE ecosystems are performing strongly.

Public Chain Ecosystem

The total locked value ( TVL ) is 100.9 billion USD, with a week-on-week decrease of 9.6%. The TVL of mainstream public chains generally declined, with only the TON chain rising 15% this week, resulting in a monthly increase of 108%.

NFT Market

The NFT market overall remains sluggish:

• The floor price of blue-chip projects has dropped significantly.
• Trading volume has slightly decreased.
• The number of new buyers and repeat buyers continues to decrease.

Market Outlook

In the short term, the market may continue to revolve around the Ethereum ecosystem. The ETH ETF is expected to be approved in early July, which could become a major driving force for the market. Additionally, the TON and BASE ecosystems are also worthy of attention.

Overall, the crypto market is still in a correction phase, and investors need to maintain a cautious attitude, paying attention to changes in the macroeconomic situation and regulatory trends.