CryptoExplorers says
05/05/2021
U.S. Treasury Secretary Yellen’s continuous talk last night caused severe market volatility. He started by saying “in order to prevent the economy from overheating, interest rates may have to be raised”, and then in the middle of the night, he said “no forecast or proposal to raise interest rates”. Believes that there will be no inflation, and the Fed has tools to solve these problems. "It took the entire crypto market to make a roller coaster, slapped up and down, exploded 140,000 people, 6.6 billion yuan of contracts. From the current point of view, the US expected year-end inflation will probably remain below 2.25%, and the overall inflation will be fixed at about 2%, which shows that the expectation of interest rate hikes will not appear immediately. Therefore, for the currency circle, macro conditions have not occurred. Under the premise of changing and improving the overall environment (printing money), the bull market will continue.
S&P Dow Jones Indices executives said that more cryptocurrency indexes will be launched in the coming months. After confirming the Bitcoin and Ethereum indexes yesterday, S&P will produce more indexes. These indexes will rapidly expand the number of financial derivatives, which is conducive to the entry of traditional finance. For traditional financial institutions, the storage of cryptocurrencies It is relatively difficult to realize and realize, but when these derivatives appear, the threshold for participation will be greatly reduced in the future. It is no longer a dream for cryptocurrency to become the world's most mainstream investment product.
The Federal Reserve issued a new paper in which it deeply studied the expansion of Defi and its role in Ethereum. The article believes that Defi will make a huge transformation in the financial industry and help build a more robust, open and transparent financial infrastructure. . The United States' perception of the crypto market is indeed ahead of many countries. After all, people have played finance for hundreds of years, and these things are indeed more forward-looking.
Last week, the inflow of digital asset funds reached 489 million U.S. dollars. It is not too much to say a lot, and it is in the middle of the near future.
The report shows that the Bitcoin transaction volume in April was 7 times that of Apple, which is normal. After all, we are trading 7*24 hours, which coincides with the big bull market. This transaction volume tells us that Bitcoin’s liquidity is actually very high. Yes, it is one of the best assets in the world. Since May, Ethereum has become the cryptocurrency with the largest trading volume, and Uniswap's trading volume has surpassed Bitcoin to rank second.
Bitcoin outflows from Bitcoin miners hit a 6-month low in the past 7 days. It shows that miners do not have the willingness to sell coins in this position, and the sentiment of consensus is stronger.
Multicoin Capital has established a new fund worth 100 million US dollars, mainly investing in Defi, NFT, Web3 related projects, these currencies have the opportunity to continue to rise in the future, these institutional investors represent the market trend.
Bitstamp is considering listing 12 assets such as SUSHI, Storj, MANA, CRV, GRT, LRC, FLR, HBAR, ENJ, AUDIO, RUNE, USDT. This kind of old exchange must have its own research logic and want to allocate small coins Yes, you can refer to this list.
The CEO of luxury auction house Sotheby's announced that it will accept Bitcoin and Ethereum as payment, and art lovers can auction their works on the platform next week. The currency circle is getting out of the circle, which is interesting.
OpenSea, the world’s largest NFT platform, had a transaction volume of US$22.99 million yesterday, a record high in a single day. NFT is a relatively new thing in the currency circle, and it is still in its infancy. The stage of the speculation bubble is analogous to the Internet in 2000 and Bitcoin in 17 years.
The premium of ETH on Coinbase has risen sharply, indicating that US institutional investors are buying ETH. The same situation has occurred in BTC before, and it is basically an event that occurred in the middle of the rise.
Market analysis
Bitcoin:
Continue to fluctuate mainly. Bitcoin is one of the relatively weak currencies in the recent market and does not have short-term participation value.
Ethereum:
Hold along the 5-day line, the trend is not bad.
DOT:
Linkage shocks.
XRP:
With support from the 30-day line, the rebound is expected to continue.
LINK:
Speed up to get out of historical highs, take it first, there will always be new highs in the future.
LTC:
Out of recent new highs, holdings are the mainstay.
BSV:
Link BCH, hold it first if it's not broken.
ADA:
High-level platform oscillates mainly.
EOS:
The rebound is not bad and has a chance to continue.
XMR:
High shocks.
ETC:
Continue to increase the volume today, the 5th line did not break first hold.
DOGE:
Entering into the FOMO mood, this kind of hype i can't understand and don't participate. If you are interested in participating by yourself, you have entered a very high risk area.
UNI:
The shock is mainly higher.
The rise of mainstream coins today is a bit FOMO. It is expected that this kind of rise will continue, but the duration is limited. The fish tail is the most fragrant (the increase will be particularly strong), but the sting is also the most (the risk is also extremely high). It is suitable for investors with higher risk appetite to participate. Once the market trend changes, they must know how to stop profit and stop loss in time.
That's it for today, see you tomorrow.
