CoinEx Daily:Bitcoin Enters Consolidation Phase; NFT Market Shows Signs of Recovery

Overview

Bitcoin prices have entered a slight consolidation phase, awaiting a new directional breakout. Meanwhile, the NFT market has shown signs of recovery, driven by Ethereum’s strong performance, with several NFT projects experiencing significant increases in floor prices.

Daily Macro

Bitcoin Market Status: Bitcoin is in a mild consolidation phase, while the altcoin market experiences choppy trading conditions.

Bitcoin ETF Activity: Last Friday, Bitcoin ETFs saw a net inflow of $376 million.

Ethereum ETF Activity:  Ethereum ETFs recorded a net inflow of $83.80 million last Friday.

Macroeconomic Data: Due to the Thanksgiving holiday, market volatility decreased, with reduced trading activity during U.S. hours.

Daily Focus

Sushi

Reason for Focus: Sushi CEO Jared Grey released the 2025 product roadmap, including the launch of Wara (an integrated trading experience on Solana), Susa (Sushi’s new on-chain order book), Kubo (Sushi Labs’ new contract primitive tool to guide new markets through delta-neutral strategies), Blade (a new LVR AMM solution to eliminate MEV for blue-chip assets), and SushiSwap Aggregator.

Related Token Performance (7D):

SUSHI: +91%

Market Analysis: DeFi projects, exemplified by Sushi, are showing signs of recovery, with many established blue-chip tokens performing well.

Next Focus

Pudgy Penguins

Reason for Focus: Pudgy Penguins recently teased on X (formerly Twitter) with the post “The calm before the storm”, hinting at the potential launch of a token. Solana co-founder Toly retweeted the post. Previously, Pudgy Penguins announced plans to release the PENGU token in 2024, with a total supply of 88,888,888,888, set to launch on Solana.

Market Analysis: Pudgy Penguins cautioned that the token has not yet launched, warning of malicious actors creating fake websites and tokens to mimic PENGU. Users are advised not to interact with these fraudulent sites or contract addresses.