Foresight Ventures Weekly Brief: Counterfeit oversold rebounds, NFT climaxes one after another
Market View:
Market View:
Currency liquidity has tightened. The minutes of the Fed meeting were hawkish, predicting that the policy rate will rise to 5.1% in 2023, an increase of 50 basis points from the expected value of 4.6% announced in September. No one expects that 2023 is suitable for a rate cut. The U.S. manufacturing PMI fell to the lowest level since May 2020 in December, and demand from large companies such as Tesla and Apple is expected to be low. A U.S. recession is almost a foregone conclusion. Germany's unemployment rate has reached a record low, and the market expects that the hot employment data will increase the possibility of the European Central Bank continuing to raise interest rates. The U.S. dollar index bottomed out and is wary of a sudden jump in the future. The performance of U.S. stocks at the beginning of the year was not optimistic, casting a cloud over the rebound of the encryption market.
2. The whole market
The top 100 gainers by market capitalization:
secondary title
2. The whole market
The top 100 gainers by market capitalization:
Crypto markets rebounded slightly this week, with BTC up 2%. BTC dominance drops from highs, altcoins outperform BTC. The agency DCG was sued by Gemini to repay its debts, which has a tendency to accelerate bankruptcy, or become a potential thunderstorm in the future. The experience of Luna and FTX shows that nothing is too big to fail.
2) LDO: The Shanghai upgrade of Ethereum is expected to open the deposit and withdrawal of pledged Ethereum in March 23. LDO, SSV, FXS, RPL, SWISE, etc. in the staking track have benefited from the rise, and a leveraged ecosystem has been formed around liquidity staking.
3. BTC market
1) Data on the chain
secondary title
On-site funds still continue to flow out. Total on-chain transaction volume dropped 44% in Dec'22. Spot volumes on compliant exchanges fell 47%, while futures volumes fell 39%. On-chain transaction volume of stablecoins fell by 28%, and the size of the issued supply shrank by 2% to $135 billion.
2) Futures market
The long-term trend indicator MVRV-ZScore is based on the total market cost and reflects the overall profitability of the market. When the indicator is greater than 6, it is the top interval; when the indicator is less than 2, it is the bottom interval. MVRV fell below the key level 1 and holders were overall in the red. The current indicator is -0.21, which is in the green bottom-buying range.
mdnice editor
Futures open interest: The total BTC open interest decreased this week, and the main market forces began to retreat. The main force of the market is relatively more optimistic about ETH.
3) Spot market
The market rebounded slightly this week. If this round of BTC cannot effectively break through the previous key resistance level of $18,500, the general trend will still be downward. 2022 is a typical big bear market. The U.S. stock market Nasdaq fell 33%, and the total market value of the encryption market fell 65%, a drop twice that of the Nasdaq. In the absence of large-scale new funds entering the market in 2023, it is expected that the market will fluctuate in a wide range, repeatedly bottoming out, and the market will be similar to 2019. In the long run, the United States has fallen into recession, the Federal Reserve will cut interest rates, and the government will introduce stimulus measures. In May 2024, BTC will usher in a new round of halving hype cycle. The future is bright, but the road is tortuous.
market data:
first level title
1. The total lock-up volume of the public chain
2. Proportion of public chain
TVL rebounded slightly this week, rising by 0.76 B, an increase of 1.95% from last week. Among them, the TVL on the etheruem chain increased slightly by 0.8%. Several mainstream public chains of Layer 2, such as avalanche, optimism, polygon, and arbitrum, all have a slight upward trend.
secondary title
2. Proportion of public chain
The proportion of each chain this week has not changed significantly compared to last week. Overall, the upward trend of the evm chain is slightly higher than that of the non-evm chain. Among them, ethereum rose by 2.23%. At the same time, the overall proportion of the rollup chain continues to rise slightly.
1) ETH lock-up volume:
2) BSC locked position status:
3) Tron locked-up volume:
5) Polygon lock-up volume:
6) Arbitrum lock-up volume:
secondary title
secondary title
NFT-500 Market Cap:
5. Changes in NFT market data
text
The total value of the NFT market has continued to grow slightly since last week, and has recently shown a continuous upward trend. Observing the situation of users in this market, it can be seen that although opense still accounts for the majority, the number of users of blur continues to show an upward trend, and the transaction records of some blue-chip high-value nfts this week are all in blur, which shows that users have a demand for aggregated nft trading platforms . Although the market continues to be sluggish, Capitanz under memeland is still very strong, and the project side is very popular and has a strong ability to control the market. Received 9801.661 ETH for the memeland team. Memeland was previously known as the potatoz project, the freemint method, and the current floor price is about 2.3 eth (the floor price of 1.4 is about 3.4 eth). The project initiator 9 gag is the largest meme content platform in web2. At present, 9 gag has begun to lay out its own token economy, and users can obtain tokens (obtain airdrop) by holding capitanz and potatoz
The latest financing of the project
Foresight Ventures backs innovative and disruptive Web 3 projects. We believe that the future of innovation will be defined by crypto. As early investors, we want to participate in the growth of the project and provide extensive support from our ecosystem.
first level title
Foresight Ventures backs innovative and disruptive Web 3 projects. We believe that the future of innovation will be defined by crypto. As early investors, we want to participate in the growth of the project and provide extensive support from our ecosystem.
Twitter: twitter.com/ForesightVen
Medium: foresightventures.medium.com
Disclaimer: All Foresight Ventures articles are not intended as investment advice. Investment is risky, please assess your personal risk tolerance and make investment decisions prudently.
