KuCoin Futures Weekly Report (February 1 – February 7, 2024)
​
https://preview.redd.it/4xpbuo3hk4hc1.jpg?width=680&format=pjpg&auto=webp&s=3530e02e1cd5deba755e9797296491e3f7b6840b
**When “2024 Year of the Dragon” meets with the Crypto Market**
Chinese New Year is fast approaching, and in the next few days, East Asia will embrace the arrival of the
“Year of the Dragon” which symbolizes prosperity, strength, good luck and wisdom. The Chinese pronunciation of Dragon (龍/龙), pronounced as “Long”, resonates with every trader’s aspiration for a prosperous trading year ahead. As we hope for a market blessed by the auspicious energy of the Dragon, let’s take a look at the news in the market this week.
\- BTC trading in the range of 42k to 43k; ETH/BTC rose to 0.055 ahead of Dencun upgrade test on Holesky.
\- $SOL network outage lasted for 5 hours. Price dipped to as low as $93 but recovered shortly.
\- ERC404: the novel token standard is emerging. The hybrid of fungible ERC-20 and non-fungible ERC721 have attracted over $80 millions in trading volume.
\- The top gainer is CKB followed by $PEPE2 and $ TAO.
\- We have listed DYM, ZETA and JUP.