DEX heat blowout, BSC gradually suppresses ETH
According to Uniswap official data, Uniswap's single-week trading volume exceeded 10 billion US dollars for the first time, setting a record high.
This can also be regarded as a historic moment for decentralized exchanges. Although the price of Uni has not changed much at present, when the decentralized exchange gradually goes out of the circle and even attracts more people's attention, the overall value of the platform in the future will naturally will improve.
Another decentralized exchange that is still relatively popular in the past two days is PancakeSwap. PancakeSwaP is a decentralized exchange on BSC, and it also adopts the automatic market maker (AMM) mechanism. The current daily activity has reached 700,000, nearly The token Cake has also continued to rise in the past two days, causing a lot of movement in the market and re-igniting the strength of BNB. It is a real feedback platform from on-chain projects.
The current situation of Uni and Cake represent the situation of the ETH chain and BSC behind it respectively. Since DeFi became popular, the congestion and high gas fees of ETH have been further magnified by the market, and the Layer 2 plan has not yet been implemented. Under such circumstances, However, the BSC smart chain has been intensifying its efforts, snatching away many DeFi users belonging to ETH, and has become the first choice of many DeFi enthusiasts. Of course, it also benefits from Binance’s own user group, which makes BSC grow like this fast.
The BSC smart chain is indeed gradually catching up with or even replacing the ETH chain, but the story about the public chain has not yet been told. Whether it is ETH or DeFi projects, you can look forward to June-July. After more and more Layer 2 solutions are implemented, the situation on the ETH chain can be greatly improved, and it may be time for ETH to usher in a counterattack.
The performance of ETH’s currency price yesterday was also good. According to the news, the three Ethereum ETFs approved by Canada last week officially started trading on the Toronto Stock Exchange on Tuesday. This kind of news cannot be ignored. There are too many altcoins in the current market, and ETH, which has a relatively poor overall performance, is always ignored. However, with more and more ETFs on Ethereum, later participation People in Ethereum will also usher in big changes, and the problems on the chain are gradually improving, so the potential is still relatively large.
As for the ETF in the United States, although there is no progress yet, many people in the market have expressed optimism about it. Among them, Jake Chervinsky, General Counsel of Compound, tweeted: "In my opinion, this round of Bitcoin ETF proposal is the most promising. The likely (by a narrow margin) outcome is approval of at least 3 Bitcoin ETFs by early November. The SEC deadline for VanEck is Nov 10th, and I bet they'll take as much time as possible. If we To get an ETF in this cycle, this is the time."
Still the same sentence, stay optimistic, but you will feel at ease when you finally land.
Going back to the market, today’s market is also a market that belongs to the early eight highs. It is more similar to the first half of yesterday. How is the situation.
On the whole, it is relatively optimistic. Now that the market is becoming more and more stable, it can be seen that there is a relatively obvious operating range. At present, it is mainly operating in the range of 53,000-57,500 US dollars, and the fluctuation range is still relatively large.
At present, it also shows that the direction has not been determined. The trend that really determines the direction is from wide fluctuations to narrow fluctuations, and finally chooses the direction. This process may be boring, and it is recommended to be more patient.
However, as we said, in this case, you can consider entering the market in batches when it is close to the lower track. This suggestion is only for spot goods. For contracts, sudden pin insertion is always uncontrollable.
ETH: At present, it can be considered to be maintained at a high level and can continue to be held. It is more suitable for value investors, but the rate of return is higher than the expectations of value investors. In the case of altcoins flying wildly, ETH is suitable for long-term returns.
Platform currency: Currently, the activity of the sector is relatively high. Today BNB surged a wave and then fell back. HT has returned to above $20. It seems that the activity of the platform has been re-opened. BNB still needs to pay attention, Coinbase It can only be said that there will be breakthroughs in the short term, but the long-term maintenance still needs to be questioned. As for OKB, it is not the same thing to keep up with the rise. We still have to look at the situation of the OK chain.
DeFi: At present, the overall situation is still not on the rise, but the chips are still relatively high-quality, and you can consider slowly starting to stock up.
DOT: Similar to DeFi, it is two major sectors that are currently neglected, and it is considered to stock up in batches.
