April 23 Market Dynamics: TaiFang Series Meme and LSD Track are the Leaders
I. Market Fundamentals
1. The market is on an upward trend, led by Ethereum-based Meme and LSD tracks. Both BTC and ETH contract rates have turned negative, indicating that the market sentiment is overly pessimistic and may change.
2. U.S stocks rebounded after six consecutive days of decline, but earnings performance during the reporting season was poor.
II. Market Focus
1. Ethereum-based Meme coins such as PEPE, MOG, FOXY etc., have risen sharply in value. Among them, PEPE was a driver of the last round of Meme market trends and has once again taken the lead in this round.
2. Liquidity collateral types like PENDLE, ANKR, SSV also showed significant growth while ETH to BTC exchange rate began to stabilize.
3.A hundred-fold golden dog Maneki (Lucky Cat) appeared on Solana which skyrocketed nearly 300 times overnight after preheating with its market cap reaching $100 million USD ranking it among top five on Solana with huge circulation volume.
4.The BTC ecosystem generally plummeted dramatically "again and again". Bitcoin rune leaders including Runestone and Pups along with Merlin other Bitcoin L2 projects respectively plunged drastically.With the end of BTC halving,the funds started shifting towards other hotspots .
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