CoinEx Daily:Bitcoin Enters Consolidation Phase; Ethereum Co-Founder Continues Selling

Overview

Bitcoin’s price has entered a slight consolidation phase, awaiting a decisive move. Ethereum co-founder Jeffrey Wilcke has deposited 20,000 ETH worth $72.5 million into Kraken. This marks his fourth ETH transfer to centralized exchanges (CEXs) in 2024, totaling 44,300 ETH (worth $148 million) at an average price of $3,342. The move has sparked discontent within the Ethereum community.

Daily Macro

Bitcoin Market Status: Bitcoin enters a minor consolidation phase, while the altcoin market remains stable.

Bitcoin ETF Activity: Due to the Thanksgiving holiday in the United States, ETFs were not traded yesterday.

Ethereum ETF Activity: Due to the Thanksgiving holiday in the United States, ETFs were not traded yesterday.

Macroeconomic Data: Due to the Thanksgiving holiday, market volatility has decreased, and U.S. trading activity has slowed.

Daily Focus

UNI

Reason for Focus: Uniswap’s November trading volume reached $38 billion, a nearly 50% increase from October and a record high, surpassing the previous $34 billion record. Arbitrum contributed the most with $19.5 billion. UNI has shown solid weekly gains.

Related Token Performance (24H):

UNI: +35%

Market Analysis: DeFi projects, represented by UNI, are showing signs of recovery.

Next Focus

PUMP.FUN

Reason for Focus: In November, pump.fun’s revenue soared to a record $79 million, accounting for 35% of its total revenue since launch. To date, the platform has generated approximately 1.516 million SOL in fee revenue and sold 1.137 million SOL.

Market Analysis:  Pump.fun is attracting significant market attention and liquidity, with its engaging features drawing a large user base. Its popularity reflects the broader hype surrounding meme tokens.