CryptoExplorers says
04/05/2021
Funds are moving to a few currencies. In the two days of market, we can feel the obvious differentiation of the market, indicating that funds have been unable to support a continuous and comprehensive rise. This is a signal sent to us by the market. At this pace, everyone should consider controlling some positions. It should not be too aggressive. The more the market rises, the less you should consider adding positions. When funds ebb from strong coins one day, I am afraid it will be the day of a full correction. And the principal is the most important thing in investment.
The Securities Regulatory Commission of Ghana has begun to warn of risks, reiterating that cryptocurrency is illegal and unregulated in the country. At the same time, the Canadian Financial Supervisory Authority also mentioned that cryptocurrencies are not regulated. Since Nigeria and Turkey, more countries have begun regulatory measures. This situation will continue for some time in the future. After all, things like Bitcoin will not be welcomed by any country.
S&P has launched crypto indices for Bitcoin and Ethereum. S&P is preparing for Bitcoin and Ethereum ETFs. With the index, ETFs are a logical thing and are more susceptible to supervision by regulators. Let's wait for the biggest profit this year to land.
eBay CEO considered cryptocurrency as a payment option, and began to explore NFT business at the same time. The cake of the digital world in the future is really too big. Imagine if anyone can make a digital Taobao in the future, what kind of value will it rise? Cryptocurrency is fully recognized by these American giants and has become the core foundation for continued development. Perhaps in the near future, Amazon will also accept cryptocurrency payments.
In a latest survey by MasterCard, 40% of consumers plan to use cryptocurrency to pay next year, and 77% of post-00s are willing to learn more about the crypto market. The good thing is that the popularity of cryptocurrency in the United States is already very obvious, and the trend cannot be reversed. The bad thing is who will continue to push it up?
CME Group launched Bitcoin micro futures, the contract size is one-tenth of Bitcoin. This micro futures is more friendly to small and medium investors, lowers the threshold for participation, and more investors will participate. In addition, CME Group also stated that it is studying the launch of Ethereum micro-futures. This not only shows that the price of Ethereum is already high enough, but also that Ethereum has been recognized by the traditional market. The market value of Ethereum is close to that of Wal-Mart, and it is currently ranked 18th in the world. The value of Ethereum held by V God has exceeded 1 billion U.S. dollars.
For the first time, the trading volume of Ethereum options on Deribit, the world's largest options exchange, surpassed the trading volume of Bitcoin options. This data shows that Ethereum has become the most beautiful boy in the near future, and it has a higher probability of continuing.
Tether issued an additional 1 billion USDT, and the supply of stablecoins continued to increase, laying the foundation for future growth.
Gray’s parent company DCG plans to buy $750 million in GBTC in order to reduce the discount. This kind of strength protection should have some effect. However, once the discount is reduced, GBTC holders will still pay tribute to Bitcoin. The price impact will not be too great.
The US listed company Mogo bought 146 ETH at an average price of 2780. Although this number is not large, it represents the wishes of many organizations, mainly because the cost is not low.
The top Defi agreement generated $252 million in revenue in April, a record high, with UNI accounting for more than half, followed by COMP, SUSHI, and AAVE.
Swiss crypto bank SEBA has added three Defi tokens, UNI, YFI, and SNX. These three coins belong to the consensus that everyone is pretty good.
Market analysis
Bitcoin:
The share of Bitcoin's market value has dropped to 44.6% again. The lower the figure, the larger the bubble of various assets in the market. At present, the trend of major levels is still upward, so it is meaningless to guess the top. We can continue to participate in the bull market. Bitcoin will still maintain a large box volatility. In the short term, there is an expectation of falling back. The weakest part of the market is the big pie, so short-term participation is not high.
ETH:
Today, the volume rose heavily and deviated far from the 5-day line. There is a certain repair expectation, and then consider participating in the callback.
DOT:
Weakness, there are expectations that the linkage will fall.
XRP:
Sure enough, once the co-founder dumped the goods, he would be under pressure in the short term, so he would not participate first.
LINK:
Fluctuates higher, mainly buy or hold.
BCH:
The bottom has risen, and there are upward expectations.
LTC:
Suddenly got up, went quite strong, and had a chance to continue.
BSV:
Small steps up, holding the main, consider throwing it when you speed up.
ADA:
Weak shocks.
XMR:
The high position failed to continue upward, 370 is a strong support, and the box is mainly volatile.
ETC:
Just hold it on the 5th line, and the trend is okay.
DOGE:
In this way, it has reached a new high, and it is recommended to lighten up the position. This new high is likely to be directly on the top, and the tengu will be unable to move.
UNI:
High shocks dominate.
Looking for a strong player, today's fierce players are all concerned with funds. If there is a callback later, the weak ones will adjust more.
That's it for today, see you tomorrow.
