Market Daily: A large amount of XRP is transferred again, how much will be spent this time?
1. Industry Interpretation
1. Industry Interpretation
When the Ripple team was first established, it has been committed to solving the problems of troublesome international transfers and high procedures. Later, Bitcoin was born, and Ripple was also inspired here, and issued the Ripple currency XRP in 2013. Ripple's move is also favored by most investors in the world, and it claims that more than a dozen of the world's top 50 banks have established cooperation with it. From the end of 2017 to the beginning of 2018, in just one month, XRP rose from $0.2 to $3.
XRP has copied the successful model of BTC, but there are huge differences from BTC. The most noteworthy point is that BTC is generated through mining, which is purely generated by network nodes, and there is no centralized issuance place; XRP is completely different. Although it can also be generated through WCG mining, it is finally issued through the official .
It can be said that the good times did not last long. After the sharp rise at the end of 2017, XRP started to fall, from $3 in early 2018 to $0.25 today. An important reason for the price to continue to fall is that a large amount of XRP continues to flow into the market. In fact, the Ripple team holds three-quarters of XRP. The continuous large-scale dumping of XRP is like starting a money printing machine for them, and they can't stop at all. .
2. Today's market overview
2. Today's market overview
Today's total market capitalizationIt was 269.7 billion US dollars, an increase of 7% from yesterday. Last night, Bitcoin rose sharply again, the highest was close to 10800, and other second-tier currencies also followed. Overall, the total market value has risen sharply compared with yesterday. At present, BTC is facing a correction, and the growth rate of other currencies has slowed down. Compared with yesterday, the trading volume has also increased significantly, an increase of about 9%. Some time ago, the trading volume continued to slump, but since BTC was pulled back to 10,000, the bulls followed up and the trading volume continued to increase.
message level,American experts propose to regulate bitcoin miners; Japan continues to tighten regulations on cryptocurrencies; Burger King accepts bitcoin payments.
market sentiment,market sentiment,
According to the statistics of Alternative.me, the market sentiment today is panic, and the panic and greed index is 43, which has not changed significantly from yesterday. Since Bitcoin returned to the 10,000 yuan mark, the selling pressure has continued to decrease, and the degree of panic has also eased.
Among the top 100 currencies by market value today, most of them have not changed much, and 90% of the currencies have risen or fallen within 5%. The biggest increase is the unpopular currency MANA, which has an increase of 20%. In addition, MAID and REP also have a 10% increase. The biggest decliner was DRG. A few days ago, DRG had a sharp rise and went against the current in the overall downward trend. Today, it dived again in the bull market.
4. Trading volume analysis
Compared with yesterday's trading volume, today's trading volume continued to increase, but the growth rate slowed down. Yesterday, it was mainly due to the sudden increase in the issuance of stablecoins that led to an increase in the overall trading volume. From last night to today, the bulls took advantage of this momentum to enter the market again, and the trading volume of most currencies also saw a slight increase. Among the top 30 currencies by trading volume, the stablecoin USDC is still the highest. Among the currencies with reduced trading volume, only Binance Coin and ETC have significantly reduced trading volume.
5. Stablecoin Analysis
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Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
6. Technical analysis
5-minute trend analysis of BTC/USDT secondary market (Huobi Spot)
30-minute trend analysis of BTC/USDT secondary market (Huobi spot)
30-minute trend analysis of BTC/USDT secondary market (Huobi spot)
BTC: BTC spot bulls continued to rise last night, reaching a peak around 10,800 and falling back. After the 30-minute level has been continuously pulled up, the energy of the bulls has slowed down, and the possibility of a sharp rise in the short term is extremely low. It needs to be volatile and ready to digest the previous sell-offs. Now that the pullback has fallen below 10473, it means that the trend is likely to start to fluctuate in a box; combined with 5 minutes Looking at the small level, the upward attack has weakened, and the trend has begun to grow. The pressure above 10700 is not small, and the upward rush space is limited, and it will be suppressed at any time.
To sum up, the BTC spot is in a 30-minute rebound after a 4-hour decline, and the bullish trend is still there, but in the short term, it needs to buffer before choosing an upside. The operation suggests short-term stabilization around 10700. The rebound is not strong, mainly short-selling, with a stop loss of 80 knives.
ETH: After breaking through the platform, ETH began to consolidate the platform, with limited upward space, and the overall center of gravity will still slowly move down. The operation suggests short-term shorting around 180.5, with a stop loss price of 183.
EOS: Although EOS follows the second-tier currencies, its trend is the weakest. It has been unable to break away from the suppression of the bargaining chip area. There will be a rebound in the short term, but the strength will not be strong. The operation is recommended to be short-term near 3.4, and the stop loss price is 3.5.
LTC: The top of LTC70 is a super hold-up area, and there will be a callback as soon as the short-term is touched. The strength of the bulls is still very weak, and they cannot hit the height at all. The operation suggests short-term short-term trading around 69, with a stop loss price of 70.
