The ETH2.0 testnet is launched tonight, and the trading volume of Ethereum futures hits a new high
Since last week's coin market staged a needle market, all currencies are currently in the process of slowly digesting, but ETH has already sounded the horn of counterattack, which once again triggered a rise in the market this morning, once rushing to 400 US dollars, and the previous day's The high is only less than 15 US dollars. Although it has fallen back to around 390 US dollars, it can still be clearly seen that it is in an upward trend, and the rhythm is relatively obvious.
In addition, according to Skew data, the trading volume of Ethereum futures hit a record high of nearly US$14 billion on August 2, an increase of more than 45% compared to the high of US$9.6 billion set on July 27.
The recent strength of ETH is still traceable, and the reasons are still these two-DeFi and ETH2.0.
The recent topic of DeFi has not diminished much. Among them, the focus is LINK, which has been fluctuating at a high level. The big dive of the day before yesterday also caused LIKN to fall abnormally for a short time, but then quickly bottomed out and rebounded, and walked out of the long shadow line that day. cross star shape.
In view of the heavy losses of mainstream currencies the day before yesterday, it is difficult for some investors to recover their mentality towards mainstream currencies for a while. They may think that the current mainstream currencies will enter into shocks after being cut off, so they began to look for relatively strong currencies before this wave of mainstream currencies rose. In this way, LINK has become a breakthrough point for capital inflows in the short term. It can be said that DeFi and LINK are mutual achievements and mutual promotion. One is a hot application and the other is a hot currency. When these two points have any movement, they will affect the ETH of the terminal anyway. , Different from ETH’s bewilderment when DeFi was popular before, most of the current market already knows the reason why ETH led the rise in the early stage, so this time when DeFi reacted, it was the first time to think of ETH.
Recently, ETH has made new breakthroughs. According to the official data of the Ethereum multi-client test network Medalla, the Ethereum 2.0 test network has met the minimum deposit requirements. Currently, 524,288 ETHs have been pledged to the Ethereum 2.0 test network. It is expected that the genesis block of the Ethereum 2.0 testnet will be launched around 1:00 p.m. to 2:00 p.m. London time (8:00 p.m. to 9:00 p.m. Beijing time) on August 4th.
Medalla, which is about to be launched at present, is only a test network, and it does not interfere with the original POW main chain of Ethereum and operates independently. However, the emergence of the test network also shows that the official version of ETH2.0 is getting closer. If the ETH2.0 test version runs smoothly in the next period of time, the official version will also be launched successfully, which will drive the entire market to ETH2.0. expected.
The current market’s expectations for ETH2.0 are not groundless. With the popularity of DeFi, the speed, high cost and throughput of Ethereum have become a hindrance, and ETH2.0 will greatly improve these aspect.
The improvement in efficiency also means that ETH2.0 will be accepted by more people, and there will be more room for use in DeFi, and the pledge demand of ETH will also increase. Moreover, compared with the high risk of DeFi, ETH may be more familiar and acceptable to everyone. You only need to know that the ecology of Ethereum is very powerful, and then start investing in ETH.
All in all, ETH is currently the most concerned currency in the market, but we must also pay attention to two hidden dangers. On the one hand, like last Sunday, no matter how strong the market is, there is nowhere for the dealer to escape from the market at the beginning. Those who cut leeks will still be cut leeks, so we still need to pay attention to the risks of making orders. On the other hand, ETH is getting more attention, and the market is still dominated by Bitcoin. Only when the direction of Bitcoin is uncertain and there is no big risk of smashing the market, ETH will perform, and the real bull market still needs Bitcoin to lead. Putting the cart before the horse.
Back to the market, today’s market has been a small roller coaster. In the morning, the market once hit 11,500 US dollars, then fell back to 11,200 US dollars, and then rose to above 11,400 again, but it seemed to be in vain. It is still running around 11,300 US dollars .
The most important support at the moment is still $10,500, and yesterday's fall to the 10-day moving average also showed the effectiveness of the current 10-day moving average support. Unfortunately, the upper shadow line was too long at the end, which led to the weak opening.
We also said in the morning market that we must be cautious when the market rises in the first half of this week, because the current determination to rise is not yet determined, and the overall mentality and momentum of the market have not recovered. It is based on a week, and if it goes up in a relatively short period of time, it is very likely to attract chips to enter the market again, but there is no plan to continue to rise. The current upward trend has not changed, but all that is needed is a little more patience. After a period of time when the market becomes lively again, it is hopeful that it will continue to rise.
The trend at the hourly line level is still relatively cautious. The five low points we marked are all gradually rising, but the problem is that the upward trend of shocks is not obvious, and the trend is relatively deformed. It is difficult to grasp a stable range. It also makes the timing of intervention more difficult, the range is not easy to do, and it is not time to buy the bottom, so it is still recommended to wait and see.
