XPR rose 30% in a single day, bringing up the concept of old cottages, and NFT volume and price rose together, and the popularity increased...丨Followin Daily Hot Narratives (Continuously Updated)

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This is Followin's new column, daily hot topic narratives, recording the most core hot topic narratives at the moment, and looking for the hidden threads of the real flow of funds in the Crypto world. Updated daily.

XRP ranks third in the market capitalization ranking, and the sector rotates to the concept of old encrypted currency"

Today, data shows that BTC's market share has dropped from 60% in the past month to below 57%. In addition, ETH's market share has also fallen to 12.9%, while other cryptocurrencies' market share has risen to 31.5%, higher than 28.1% last month.

Some analysts pointed out that the decline in BTC’s market share has significantly affected market sentiment, which indicates that the Altcoin season has arrived.

Today, XRP continued to rise, with a single-day increase of more than 30%, a market value of more than 135.8 billion US dollars, and a FDV of more than 240 billion US dollars, thus surpassing USDT and becoming one of the top three Crypto tokens, second only to BTC and ETH.

The rise of XRP has news background. First, the long-standing legal dispute between Ripple and the SEC is expected to be resolved, and the court rulings have repeatedly sent positive signals to Ripple. Second, its stablecoin RLUSD may be approved on December 4. This adds another layer of super narrative to XRP. Third, Nate Geraci, president of The ETF Store, said that Bitwise, Canary and 21Shares have all submitted spot XRP ETFs.

Today, the "old cottage" generally rose. CoinGecko data shows that #XRP's positive news comes from: In addition, the old cottage has entered a general rise in the past 24 hours. #ADA + 9.5%, market value 8th; #XLM +12.5%, market value 14th; #LTC +27.5%, market value 9th; #ALGO + 17.4%; #EOS +24.5%; #DASH +33.6%.

Which Altcoin are more likely to rise? In the past two days, the Coinbase50 index component coins have attracted much attention. The previous holdings are as follows:

For more detailed currency information, please visit: https://www.marketvector.com/indexes/digital-assets/coinbase-50

In addition, Grayscale’s holdings are also considered a source of “high-quality old coins”.

NFT and NFT concept coins have both rebounded, has this sector rotated to this sector?

Data shows that NFT sales in November exceeded US$562 million, a six-month high. According to Blur data, blue-chip NFT projects have generally risen sharply in the past seven days.

#MAYC +84%; #Pudgypenguins +29%; #BAYC +72%; #Azuki +25%; #Doodles +37%; #Milady +19%;

SosoValue data shows that the NFT token index has also risen, up 300% in three months. The monthly return data of the top tokens are as follows:

#APE +51%; #BLUR +94%; #SUPER +22%; #NFT +22%.

There is no particular news narrative for the price increase in the NFT sector, and the launch of major projects seems to be entirely the result of capital flow.

In addition, on 12/10, Magic Eden token TGE is expected to have a large-scale airdrop, which may also drive the narrative, traffic, and capital accumulation of the NFT sector.

This week’s token unlocking (unlocking value in USD):

12/8, JTO, 518 million, accounting for 103.03% of the circulation;

12/6, ADA, 21.31 million;

12/4, ENA, 10.61 million;

12/10, BGB, 8.6 million.

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Sector:

Wallet

AMM

Governance

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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