Overview

For the first time, U.S. Ethereum spot ETF daily inflows surpassed Bitcoin spot ETF inflows, signaling a potential start to an altcoin season. Meanwhile, Bitcoin showed relative weakness over the weekend, consolidating within the $96,000 to $98,000 range.

Daily Macro

Bitcoin Market Performance:

Bitcoin continued its consolidation, trading between $96,000 and $98,000.

Bitcoin ETF Activity:

Last Friday, Bitcoin ETFs recorded net inflows of $319 million.

Ethereum ETF Activity:

Last Friday, Ethereum ETFs recorded net inflows of $333 million.

Macroeconomic Data:

Bitcoin’s market dominance fell to 56.75%, down 8.15% from 61.78% on November 21, nearing a critical multi-year support trendline.

Daily Focus

HYPE

Reason for Focus:

Hyperliquid’s HYPE token has been on a steady rise since its token generation event (TGE) and airdrop of 310 million tokens last Friday. HYPE’s market cap has surpassed $2.9 billion, briefly overtaking OP. Yesterday, Hyperliquid accounted for 47% of trading volume across all decentralized derivatives platforms, showcasing its growing dominance.

Related Token Performance:

HYPE: +3.03% (24h)

How to Participate:

HYPE has shown strong performance post-launch. Investors should monitor project updates and explore opportunities within the Hyperliquid ecosystem for potential gains.

Next Focus

XRP

Reason for Focus:

XRP’s market cap has surpassed $130 billion, overtaking SOL ($113.1 billion) and USDT to rank third in cryptocurrency market cap rankings. XRP surged to $2.35 yesterday, its highest price since January 2018.

How to Participate:

Legacy altcoins like XRP are gaining traction with steady price increases, contrasting with the volatility of meme coins. If this trend continues, the revival of established coins alongside the activity of trending tokens could herald a broader altcoin season.

CoinEx Daily: Bitcoin Consolidates, Ethereum Gains Momentum