Author: Leek, Foresight News
On the evening of December 3, the cryptocurrency market experienced a wave of "bilateral" trends.
First, sudden changes in the political situation in South Korea led to negative premiums on its largest cryptocurrency exchange, Upbit, causing Bitcoin prices to briefly drop to $60,000, which ultimately resulted in the platform going down. In other markets, Bitcoin also briefly fell below $94,000, showing a significant pullback.
On the other hand, the recently revived altcoin market continued to maintain a strong trend, showing independent movements on the evening of the 3rd, particularly the collective explosion of some well-established coins from two cycles ago drew significant attention.
Forbes previously published an article listing zombie cryptocurrencies with a market cap of over $1 billion, including XRP, EOS, and ADA. Interestingly, last night these "zombie cryptocurrencies" collectively moved, leading the overall cryptocurrency market.
According to the latest data from CoinMarketCap, several established crypto projects such as TRON, Kadena, NEO, and EOS recorded strong gains, pushing the total global cryptocurrency market cap to $3.51 trillion, with a 24-hour trading volume exceeding $290 billion.
TRON (TRX): Setting a New Historical High After Six Years
The performance of TRON, founded by Justin Sun, ranked high on the gainers list, rising over 70% in 24 hours and nearly 96% over the week. As of the time of writing, the latest price is $0.37.
The TRON project was established by Justin Sun in 2017 and is one of the main public chains for USDT usage. TRON's historical highest price occurred in January 2018, when it briefly surpassed $0.30.
After six years, the TRX price has set a new historical high. TRON was once known for its low transaction fees, but as the price of TRX tokens skyrocketed, its network fees are now approaching those of the Ethereum mainnet.
IOTA: Nearly 40% Surge After 9 Years
Surprisingly, the second place on the 24-hour gainers list goes to IOTA, an ancient project founded nine years ago, which saw a 39% increase in 24 hours and over 159% in a week. As of the time of writing, the latest price is $0.56.
The IOTA project was co-founded in 2015 by David Sønstebø, Serguei Popov, Dominik Schiener, and Sandy Pusz, all of whom are technical experts.
IOTA's core innovation lies in its use of Tangle technology, which differs from traditional blockchain architecture. Tangle is a directed acyclic graph (DAG) designed to improve transaction efficiency by eliminating the need for miner participation, making it particularly suitable for applications requiring high throughput and low costs, such as the Internet of Things (IoT). Tangle is not a blockchain because there are no chains, no blocks, and no miners in the Tangle world.
IOTA's historical highest price occurred in December 2017, when its price briefly soared to $5.25.
EOS: Goodbye to Grapefruit, 1000 Yuan is Indeed a Dream
EOS also appeared on the gainers list, rising nearly 31.8% in 24 hours and close to 86% over the week. As of the time of writing, the latest price for EOS is $1.52.
The EOS project was founded in 2017 by Daniel Larimer and Brendan Blumer, aiming to build a high-performance blockchain platform to support large-scale commercial applications. Its features include fast transaction processing capabilities and high scalability, capable of processing millions of transactions per second, and its zero transaction fees once attracted many developers.
Throughout its development, EOS experienced a period of high visibility, being referred to as the "Ethereum killer." In 2018, its price reached a high of $22.89. Currently, it has lost most of its popularity.
NEO: 65% Increase Over the Week
The project "NEO," also from two cycles ago, appeared on the gainers list, with a 24-hour increase of 22% and a weekly increase of 65%. As of the time of writing, the latest price is $23.1.
NEO was founded by Da Hongfei in 2017. The initial goal of NEO was to create a blockchain-based smart economy platform that allows users to create, circulate, and trade digital assets. In 2017, NEO's market cap briefly surpassed $10 billion, and its historical highest price occurred in January 2018, when it broke $168; it is evident that although NEO has rebounded, it is still far from its historical high, and the project's popularity has long peaked.
VET: 74% Increase Over the Week
VeChain (VET) saw a 12% increase in 24 hours and nearly 74% over the week. As of the time of writing, the latest price is $0.07.
VeChain was founded in 2015 by Sunny Lu. Its goal is to achieve decentralized supply chain management through blockchain technology, providing end-to-end tracking solutions from production to consumption. By adopting blockchain and IoT technology, VeChain is also one of the early well-known public chains among the Chinese community.
VeChain's historical highest price occurred in April 2021, when the price approached $0.28, and currently, it still has a significant distance to break new highs.
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