Exchange Weekly | Platform currency prices generally show signs of stabilization; exchanges still need to be cautious when deploying overseas markets (12.30-1.5)

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2020-01-06 09:40 (UTC+8)

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The market as a whole shows signs of recovery.

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The market as a whole shows signs of recovery.

Produced by Odaily

Editor | Hao Fangzhou

Produced by Odaily

The price of the platform currency has stabilized, and we can continue to pay attention to it;

Exchange Weekly Trends

On January 4, Noriyuki Hirosue, president of the Japan Cryptocurrency Business Association (JCBA), said in an interview that the current Japanese virtual currency exchanges are in a state of loss as a whole. In the next six months, there may be exchanges closing down or merging. .

On January 4, according to Binance Research’s December Market Overview published on January 3, 2020, Binance Futures has maintained a steady growth. The report noted that for most of 2019, the volume of BTC/USDT perpetual contracts was higher than the combined spot volume of all trading pairs on the Binance platform.

On January 4, Huobi officially announced that Huobi Global has decided to extend the period of "free trading of stablecoins" from 18:30 on January 5 to 18:30 on April 14. This activity only involves 4 trading pairs of USDT/HUSD, PAX/HUSD, USDC/HUSD and TUSD/HUSD in the HUSD trading zone.

Exchange data statistics

source:

source:alexa

According to Alexa statistics, the Binance website UV (unique visitors) this week was 864,000/day, an increase of 3.8% compared with last week; meanwhile, PV (page views) was 4.666 million/day, a decrease of 3.4% compared with last week %. Binance, as the leading exchange in the encryption world, accounts for the vast majority of market traffic, indicating that the overall market trend has picked up from a low point recently.

source:

source:Dapptotal

Note: According to the statistics of Dapptotal combined with the historical price trend of BTC, it is found that the number of active users of DEX users is positively correlated with the price. In December 2017, the price of BTC reached a peak of 120,000 US dollars, and the number of users of Dex reached a peak of 9340; in April and May of 2018, the price of BTC rebounded again, and the number of active users of DEX also rebounded again; therefore, the number of users of DEX can be used as a judgment A reference indicator of market trends, but in the transaction volume and number of transactions counted by Dapptotal, the research institute found that its trend is not as highly correlated as the number of users and the price of BTC, so the number of users is intercepted as a reference indicator.

source:

source:Bakkt Volume Bot

secondary title

Among them, the green line is the price trend of BTC, the orange line is the price trend of BNB, and the blue line is the price trend of HT.

source:Tradingview

Among them, the green line is the price trend of BTC, the orange line is the price trend of BNB, and the blue line is the price trend of HT.

This week, BTC has been greatly affected by overseas factors, and there are signs of stabilization at the bottom. As platform coins with attributes similar to "brokerage stocks", both HT and BNB have shown their prices. In particular, HT was the first to pull back when BTC bottomed out last week, and performed well. .

source:

source:aicoin

analyst point of view

The price of the platform currency has stabilized, and we can continue to pay attention

In the past week, both the three major platform coins and some long-tail platform coins have shown signs of strengthening, especially HT was the first to pull back when BTC bottomed out last week. Most of the platform coins have properties similar to those of brokerage stocks, and the account opening volume and trading volume are mapped to their prices. When the market is improving, it will first give positive feedback. However, the policy risk of platform currency cannot be ignored, and continuous attention should be paid to it.

Still need to be cautious in the layout of overseas markets

Although the enthusiasm of the Japanese people for cryptocurrencies has not diminished, due to the influence of Japanese regulation, most exchanges are in a state of loss. In some countries, although the user base is large, the transaction enthusiasm is not high, and the value of each customer is far lower than expected. Therefore, it is recommended to do a good job of research when the exchange deploys overseas markets, and it is best to have relevant local partners.

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