Will Cryptocurrency follow in the footsteps of Bitfinex and BitMEX?

The trend of these two days is still critical, we suggest you to watch more and move less.

Short-term (intra-day): up

Medium-term (more than two weeks): Up

Talking about hotspots

Binance recently did not know who to mess with, following the previous Japanese and British regulators issued a warning to the coin, more and more countries have joined the ranks of the siege of the coin, including the United States, India, Singapore, Canada, such large countries, but also Thailand, the Cayman Islands and other small countries, the current situation of the coin is not too much to say that the four sides of the song, as for why so many countries only focus on This is easy to explain because Binance has already become the absolute leader in the whole crypto field, and the frequency of users in the above countries using Binance is too high, so regulation is necessary.

Of course this can also explain why Coinan has been the world’s largest exchange in terms of transaction volume since 2018, but his market capitalization valuation is much smaller than Coinbase and even less than Kraken, the reason lies in the compliance level, we must not underestimate the compliance risk, when cloudcoin, bitfiniex, bitmex have done the world’s first in their respective fields, but they all basically fell on the way to compliance, so we must pay attention to it, the future of Coinan is still full of many uncertainties, and BNB is not Bitcoin.

By the end of June, DeFi’s total locked-in value (TVL) reached $117.6 billion, compared to just $773 million at the end of June 2020, an increase of more than 15,170% in just one year. The most money is locked up in Ether with over $80 billion, followed by the Coin Smart Chain (BSC) with $13.4 billion. Although DEFI dirt dog has basically died out, but the mainstream DEFI platform is still maintaining positive growth, if the market reverses one day in the future, the big money will also give priority to rush into the mainstream DEFI platform, which is a long-term layout direction.

Will Cryptocurrency follow in the footsteps of Bitfinex and BitMEX?

Having said DEFI, and then a set of centralized exchange ETH outflows, there was a 600,000 ETH pass out from Coinan to individual wallets as I write today, and in fact ETH on centralized exchanges has remained a net outflow since June 2020, with the percentage of total ETH supply falling from 26% in June 2020 all the way to 18% this June, the hitting the lowest level since November 2018. The constant outflow is actually the process of ETH changing hands from retail investors to whales, and in the long run, the development of ETH is taking the old path of BTC, i.e. de-retailing. With the increasing use of Layer2 technology, retail investors may not need much ETH to pay for fees in the future, but the rarity of ETH will further increase so cherish the ETH in your hands, its future value The value of ETH will be in storage, not in use, just like Bitcoin is now.

Finally talking about mining, yesterday the Bitcoin Mining Association released a report, by collecting more than 32 countries TBY mining related energy information, the results show that the bitcoin mining industry has grown to 56% of the sustainable power portfolio, is one of the most sustainable industries in the world, before Musk said bitcoin clean energy greater than 50% of the time to consider reopening Tesla to support bitcoin payments, do not know Did you find that the foreigners are still relatively smart, first of all, Musk felt not energy efficient then stop payment, and then go on to set up an association to control the upper field of bitcoin, so that over time, these associations will be more vocal and have to be convinced. This wave of bitcoin miner suppression, directly to the old foreign miners sent nearly 200 million dollars, this is no way to do things, in the face of force majeure, can only bear.

Read the market

BTC: Bitcoin 4 hours level shrinkage adjustment, perhaps is building a circular bottom, June 22, 20 points after the release of the bottom rebound, into a shrinkage adjustment state, that is, we say the weak adjustment trend, according to the current market trend, in fact, can not fall where, the bottom support 33000, 31000 near, so far has been 6 times the bottom effective support trend If the 7th time, then the probability is not called effective, if the time can not quickly V over, that is the trend completely go bad, if this situation, I will be the first time in the tweet, telegram to everyone clear, also welcome to enter into the discussion together.

The two-day trend is still relatively critical, it is recommended that you look more and less, and so on the two days after the definitive results out, you can boldly operate.

Will Cryptocurrency follow in the footsteps of Bitfinex and BitMEX?

ETH: In the short term, it will have to fluctuate for a period of time. The long-term view remains unchanged. ETH will gradually become BTC, and its value will change from the current use value to store value, so it must be held for a long time.

BNB: Binance is currently in compliance risk. I believe that more countries will join the ranks of encircling Binance. If it is not handled well, the foundation laid by Binance may be lost. Therefore, BNB is not recommended to take too much in the short term. many.

LINK: Following the market, the trend is slightly stronger than that of ETH, so there is no problem with continuing to hold it.

DOGE: Dad Dog continued to call for orders yesterday, but obviously the effect of the falling market is not good, but if there is a sharp drop, it is recommended to increase the position. Its unique attributes are also worthy of placing a part of the position.

ICP: ICP does not recommend continuing to go to bottom hunting, and make plans after confirming that the seed round continues to be released.

FLOW: FLOW is still quite strong today. Dapper’s parent company continues to be the top capital in the deployment of the NFT ecosystem. FLOW has resources far more than other NFT public chains. Although the current market value is not high, there is still potential for unicorns in the future.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/will-cryptocurrency-follow-in-the-footsteps-of-bitfinex-and-bitmex/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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