Ethereum led the rise of BTC over 10,000, blood sucking DeFi together, is the cottage cool?
On the 26th, a big sun line, thousands of troops and horses will meet each other. Ethereum led the rise, and BTC exceeded 10,000. The bosses and the media began to shout that the bull market is coming, and they did not forget to add a question mark.
The stock market is booming this month, and trillions of ants are about to go public. But the currency circle is deserted, and even the gray scale of buying, buying and buying has stopped collecting coins.
Ethereum is the leader of this round of skyrocketing, breaking through the high point before the currency disaster at the beginning of the year in one fell swoop, hitting a new high this year. On the 26th, with BTC, it also broke through the 10,000 yuan mark. The top eight mainstream currencies by market capitalization are all green.
The bull market is full of mud and sand, and everything you buy goes up, but DeFi suddenly turns off. According to the data of OKEx and AICoin, the leader of DeFi, link, is red, and 6 of the top 9 DeFi market capitalizations are red, indicating that the mainstream is sucking blood from small currencies.
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Why is Ethereum leading the rise?
The explanation is always simple, but it is also an afterthought. For example, "V God expressed his concern that the high transaction fee will damage the network security on July 22." There is already a test network in 1559", "Ethereum 2.0 will be released soon".
The analysis of analysts is, "Once Ethereum is converted to POS, there will be a large number of lock-ups, which is the essential logic of the rise."
According to the winding wheel: Ethereum forms the center of the daily line, breaking through the center and stepping back but not returning to the center constitutes the third type of buying point. Of course it goes up if you buy it. Bitcoin is still in the center, there is no buying point, and it is easy to be pulled back to the center when it rises.
Can the market be predicted? Experts can do it to a certain extent, but Tanglun only operates when the buying and selling point appears. On the daily line level, the third buying of Ethereum has just passed, and the selling point has not come. No point of buying or selling Bitcoin appeared. Waiting is the best course of action.
There is a buying and selling point at the 30-minute level of Ethereum. Comparing the macd column area of trend 1 and trend 2, we can find the attenuation of the upward force, that is, divergence. The first selling point at the 30-minute level has just passed.
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Why Mainstream Currencies Absorb DeFi
The trend is clear, but why? First, this round of DeFi boom is triggered by COMP’s lending, that is, mining, and its arbitrage component is far higher than its actual application value; and a series of DeFi hotspots released later, such as AMPL, are more like a fund game in essence .
The result of short-term arbitrage becomes drumming and spreading flowers. Once the market sentiment declines, currency holders immediately cash out at high points. Recently, public opinion has advocated the opposition between Ethereum and DeFi. It can be seen that while Ethereum leads the rise, DeFi as a whole has fallen, which also supports this sentiment to a certain extent. In addition, it also highlights that the cryptocurrency market does not have enough new funds and new users to enter. There may be hundreds of users in a popular DeFi project, but is the copycat cold? It is still far away. First, because the market, investors, and media all need a hot spot, unless the next hot spot replaces it; second, the user base and capital base are not large, and there is a lot of room for growth.
