Daily Summary: Over 90% of ETH holders are profitable, Trump's victory greatly stimulates BTCHoldings

The US stock market was closed for Thanksgiving yesterday, and there was no capital inflow or outflow in Spot ETF.

IntoTheBlock: 90.8% of ETH holders are currently in a profitable state

IntoTheBlock stated that 90.8% of ETH holders are currently in a profitable state, the highest level since June.

Still, 9.2% of ETH holders are at a loss, and their Token holdings only account for 2.8% of the total supply. This indicates that as ETH continues to trend upwards, potential dumping pressure from this group may have limited impact.

CryptoQuant CEO: Bitcoin market dominance is unlikely to decline rapidly

Data company CryptoQuant CEO Ki Young Ju said in a post that considering its rise rate, Bitcoin's market capitalization is unlikely to decrease rapidly. During the BTC Market Cap rise of 37%, large market cap altcoins pumped by 16%, while small and medium market cap altcoins pumped by 10%. The only time small and medium market cap altcoins surpassed BTC Market Cap rise was during the Meme season in April.

Since Trump's victory, the open interest of BTC futures contracts has risen significantly, surpassing 60 billion USD

According to The Block, BTC futures contracts have risen significantly since Trump's victory on November 5th, from $39 billion on November 5th to the current $60.9 billion, indicating an increase in trading activity and market speculation. However, analysts believe that Margin Trading will not face the risk of an impending market adjustment.

Analysts suggest that the increase in contracts not yet closed appears to be a natural rise, driven by expectations of future price appreciation. Leveraging is a common tool used by traders, including institutions, to position themselves for expected price movements.

It also pointed out that as of November 22nd, the number of open orders contracts has decreased, especially around the level of $94,000, and a large number of Makers were traded. It believes that there is no abnormal leverage accumulation recently, and the price pullback to the $93,000 area is a normal pullback.

Market Analysis: AI zone collectively pump, the well-established public chain ALGO has surged more than 200% within the month

Market Hotspots

• AI zone WLD, FET, THETA and other collective pump, Worldcoin App global iris verification users over 17 million, WLD current circulating Market Cap $1.8 billion, total circulating Market Cap $26 billion, and daily unlocking tens of millions of dollars worth of Tokens; With the support of AI narrative and low circulation high FDV, WLD's potential rise remains to be observed;
• The well-established public chain ALGO rose by 20%, with a rise of over 200% since early November; the ALGO team was founded in 2017, with token issuance in 2019, reaching a historical high of $3.44, and the current price has fallen by 90% from the all-time high; in the hot public chain field in the market, ALGO achieved a 20-fold increase in the previous Bull Market, and the current circulating market capitalization of ALGO is $2.85 billion, with limited room for further rise.

Market Trends

• BTC is consolidating, still waiting to break through above $96,000, as there is no capital inflow into BTC ETF due to the Thanksgiving holiday in the US stock market;
• ETH fell slightly and remained above $3550, gaining strong support at the middle track of the monthly line. The future of ETH is promising;
• Altcoins are generally pumping, but the hot zones are scattered, and AI zone is still one of the main narratives in the market;

Macro News: US stock market closed for Thanksgiving, no updated data and views in the market temporarily.

Author: Icing, Gate.io Researcher *This article represents only the author's point of view and does not constitute any trading recommendation. Investment involves risks, and decisions need to be cautious. *The content of this article is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal liability will be pursued.