Short-term (intra-day): up
Medium-term (more than two weeks): down
Talk about hot spots
Let’s talk about policy matters first. The market condition in recent month was mainly formed under the regulation of China and the United States, supplemented by many countries, firstly, the United States wanted to include the crypto market within the original financial regulation system to block the mouths of tax evasion and money laundering, and hoped to increase the tax source for the next round of U.S. economic stimulus plan. In addition, in the context of “carbon neutrality”, bitcoin mining is also the main reason why it needs to be rectified due to the energy consumption problem. In addition to the increased regulatory intensity in China and the US, countries such as South Korea, the UK and Brazil have all introduced policies related to cryptocurrency taxation, so the whole May market is actually not related to the fundamentals of crypto assets, but the trend is due to the increased market uncertainty.
But we say that cryptocurrency is already a global mainstream asset (commodity), so it is destined to escape the regulation of major global economies, just like gold and silver, only under a regulated market regulatory environment can we continue to reach a larger market size.
Of course, in May, in addition to the negative policy, for deep DEFI players, hacking is even more deadly. Bitcoin will lose a few percent again, but if you are unfortunate enough to be hacked, you won’t even have any pants left. I will briefly list the attacks on the DEFI project on the BSC chain in May.
May 30, Belt was attacked by lightning loan, the total loss of about 50 million dollars
On May 28th, BurgerSwap was attacked by Lightning Lending, with a total loss of about $7 million.
On May 28, AMM project Julswap was hit by a lightning lending attack, with the coin price dropping by up to 95%.
On May 20, PancakeBunny was hit by a lightning lending attack, with total losses of about $45 million
On May 18, DeFi lending platform Venus was attacked, with total losses of about $77 million
On May 16, bEarn Fi’s bVaults suffered a lightning lending attack with total losses of approximately $18 million
On May 13, xToken was hit by a lightning lending attack with total losses of approximately $25 million
On May 7, Value DeFi, a machine gun pool project, lost $21 million
On May 2, Spartan Pools V1 was attacked, with total losses of about $30 million
This is only part of the reported attacked projects, the loss amount is already close to $300 million, BSC chain in May alone to complete the highest frequency of attacks on DeFi ever, the largest loss amount of records, even the most profitable scythe SBF in the coin circle were hit, he invested $800 million in Belt, MDEX, pancakeswap, Venus mining Funds, you know SBF such a savvy person, before mining must have their own security team to review, so that DEFI on the seemingly wonderful APY, in fact, hidden a huge risk. And BSC’s serial mines also gradually lost the trust of investors, TVL appeared to be significantly reduced, and this part of the funds also gradually flowed back to the Ether, such as AAVE’s TVL back to $20 billion, which also shows that the most important trait needed for the carrier of DEFI must be security, not efficiency, which is why so many high-performance public chains are online, while the Ether is standing This is also the reason why so many high-performance public chains are online, but Ether is still standing.
Read the market
BTC: Bitcoin began to fall from May 10, has fallen 3 weeks of time, last week on a small positive upper shadow, also has little reference significance, the weekly level has not stopped falling, that means there is still a downward test, from the weekly line, the strong support below near 20000, is currently in the weekly level retracement, so be sure to leave a good bullet, to reasonably manage their positions, otherwise it will be in the next The market is in a super-passive situation.
The daily level after a short rebound or not stable, the current trend is relatively poor, so there will be a downward test, that is, my microblogging said three tan, depending on the support position below 33000,,31000 can support, if not, it is likely to verify the weekly level of support, so be prepared psychologically.
ETH: Aunt after a few days of negative decline, today finally ushered in a decent rebound, from the bottom of the 2180 rebound to the current 2540, the rebound has reached 15%, if tonight can stand stable 2500, I believe Aunt will soon impact 3000, the operation does not need to rush shipments, hold coins and wait and see.
BNB: BNB rebounded strongly in the afternoon, and I have been suggesting to build a position in BNB for the past few days, because if the market continues to shake, or negative fall, and the market sentiment continues to be low, then the most likely to mobilize the market sentiment is afraid of the new 1EO of the coin, so BNB is the most should build a position when the market is bad.
LINK: LINK is also more suitable for layout in a risk-averse environment due to its historical background of strong banker coins. In the medium to long term, if the market comes out of the mire, LINK is likely to become one of the stars again.
DOGE: DOGE is actually somewhat independent of the mainstream market. Today, the mainstream such as big cakes are out of the rebound market, but DOGE is still not moving, proving once again that the correlation between DOGE and Musk is greater than the correlation with the cryptocurrency market, so the layout of DOGE can spread the risk of the cryptocurrency market to a certain extent.
ICP: It was said before that ICP is not a small problem, the market value is large + after market pressure + ecological construction lack, so the short-term is not much support, the operation is based on the rebound to reduce positions.
FLOW: FLOW is actually considered resistant these days, but also facing the problem of lack of liquidity, you buy more may sell are not good to sell, so hold FLOW must be a little faith, if the team and Coinan or Coinbase agreement in October when FLOW unlocked listed, then FLOW future does have unicorn potential.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/may-policy-is-more-negative-deep-defi-player-hacking-more-deadly/
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