Foresight Ventures Weekly Market Report: How far is the rebound far enough?

Foresight

特邀专栏作者

2022-08-09 14:00 (UTC+8)

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A list of the important news of the week.

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A list of the important news of the week.

market view

macro liquidity

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On-chain indicators

macro liquidity

On-chain indicators

BTC Long-Term Market Indicators

The shortage of funds is still the main reason that limits the rise of BTC and ETH. Stablecoins, whether USDT or USDC, are still at a relatively low level. It is rare to be able to rebound, and there is still a long way to go before the reversal.

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BTC Long-Term Market Indicators

The long-term trend indicator MVRV-ZScore is based on the total market cost and reflects the overall profitability of the market. When the index is greater than 6, it is the top interval; when the index is less than 2, it is the bottom interval. The current indicator is 0.156, which is still seriously underestimated.

Futures funding rate: This week the funding rate was all positive, but the rate began to decline. Some short-term investors believe that the current rise has reached a weak stage, so they lighten their positions and start to be bearish. The fee rate is 0.05-0.1%, with more long leverage, which is the short-term top of the market; the fee rate -0.1-0%, with more short leverage, is the short-term bottom of the market.

BTC trend analysis

Contract open interest: The open interest increased slightly this week, with little change. The willingness to be bullish is stronger than that of bearish, and the willingness to be bullish on ETH is stronger than that of BTC.

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BTC was flat this week and has been fluctuating in a wide range since July 18. This market rebound sentiment is mainly driven by the upgrade of ETH, so BTC appears relatively passive. The overall amount of funds in the market is insufficient, and the cottages are still in a weak position in general. A few rising varieties cover up the decline and weak consolidation of most cottages. The main line of the market is still LDO and OP related to ETH2.0.

market data

The total lock-up volume of the public chain

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Proportion of TVL of each public chain

This week's statistics are recalculated, and after recalculation compared with last week, the overall TVL has increased by 4.33B, a single-week increase of 6.7%.

2) BSC lock-up volume

1) ETH lock-up volume

2) BSC lock-up volume

3) Tron lock-up volume

4) Solana lock-up volume

5) Avalanche lockup volume

6) Polygon lock-up volume

5) Avalanche lockup volume

History of ETH Gas fee

The current on-chain transfer fee is about $0.45, the Uniswap transaction fee is about $1.53, and the Opensea transaction fee is about $0.6. The gas price continues to set new lows, and the OS miner fee has dropped to less than $1. Compared with the previous tens of dollars in miner fees , has dropped to freezing point.