Foresight Ventures Weekly Market Report: The market turned around and rebounded, and the L2 boom was high

Foresight

特邀专栏作者

2022-10-31 10:45 (UTC+8)

This article is about 2236 words, reading the full article takes about 4 minutes

A list of the important news of the week.

AI Summary

Expand

A list of the important news of the week.

market view

1. Macro liquidity

secondary title

2. The whole market

1. Macro liquidity

Monetary liquidity has eased. The U.S. economic data was weak, and the market bet on the slowdown of the Federal Reserve’s interest rate hike in December. The U.S. dollar index peaked and fell. Against the backdrop of the US mid-term elections, the Federal Reserve released dovish remarks. The Republican Party has a higher probability of winning, or it may change the existing Democratic Party's strong regulatory policy on crypto. Historically, since 1950, U.S. stocks have not had a negative return in the 12 months following a midterm election. U.S. stocks took a breather and began to rebound. The crypto market and technology stocks are highly correlated, and they have also begun an upward trend.

1) ETHsecondary title

2) OP2. The whole market

3) DOGEThe top 100 gainers by market capitalization:

4) ARB: Musk will acquire Twitter, the market speculates that DOGE may become Twitter's ecological currency, DOGE soars, and SHIB is linked. There are also MASK and MINA on the Twitter board. MASK is mainly a Twitter plug-in, and MINA is mainly because Twitter may launch its own wallet, and the wallet may be developed based on the MINA public chain.

3. BTC market

1) Data on the chain

: L2's Arbitrum chain is expected to issue coins recently, and activities on the chain are active. Ecological projects BFR, MAGIC, SPA, HEGIC, etc. have surged. Among them, BFR and HEGIC started to surge after transferring from other chains to Arbitrum.

secondary title

1) Data on the chain

2) Futures market

On-chain activity continues to be weak, indicating a lack of vitality in demand at the moment. The growth rate of addresses with non-zero BTC balances has stagnated since August, similar to what happened in November 2018. Miners are on the verge of severe financial stress, with about 78,000 BTC stored in the miners' treasury, there is a risk of deleveraging sell-offs. But the good news is that the exchange balance continues to flow out, and the BTC holdings of the firm-belief hoarding party have reached the highest level in history, indicating that the chips involved in short-term handovers are gradually decreasing.

The overall market value of mainstream stablecoins has risen steadily. As long as the Fed starts to compromise on raising interest rates, the funds leaving the market will decrease, indicating that a staged bottom may come.