January 11 Market Dynamics

I. Macro Trends

1. Market Trend: BTC slightly increased, ETH surged. The SEC approved the spot ETF as scheduled, and BTC's dominance has peaked. The altcoin season led by ETH has begun and is expected to last for about a month.

U.S stocks collectively closed higher, reaching a two-year high.

II. Market Hotspots

1. Public chain ETH surged significantly. L2's ARB, ZKF, METIS, SKL also soared with ZKF starting to stake dividends from transaction fees income. The market narrative shifted from BTC to ETH; the exchange rate of ETH/BTC rebounded after an excessive decline. In the short term, there will be Cancun upgrade in March for ETH while in the long run next year there will be an ETF for it too . Currently at 2500 USDT , it is highly likely that it would bounce back to its previous drop point of 3500 USDT similar to what happened with BTC and SOL . Therefore , chances are high that Ethereum ecosystem might surge more than public chains .

2.The likes of END,PENDLE,RPL etc within Ethereum ecosystem have seen significant increase . TVL overall benefited from ENS surge in liquidity staking track race . ENS is a project Vitalik sees as promising future unifier of L2 projects .

3.ASTRO under Cosmos rose ; ASTRO being main DEX for INJ , SEI , NTRN etc., proves itself as good tool against Dogecoin under Cosmos . It hasn't been listed on any CEX yet but its market value stands at one-fifth of OSMOS'.