"Without Bitcoin, cry in a bull market."

The old leek in the currency circle has expressed the aspirations of many people.

"Three times the bitcoin contract, FCoin running away, domestic altcoin", let him who once thought he was on the wealth train, finally found that it was a hearse.

"The hustle and bustle of the bull market belongs to them and has nothing to do with me," he said.

This winter is very cold.

Bitcoin keeps hitting new highs, and many armies keep blowing up their positions.

Who can imagine that the bulls are the main force of leeks?

Chinese New Year is almost here, as a veteran driver in the currency circle, have you outperformed the market?

Taking the days of alternating bear market and bull market from December 29, 2019 to January 9, 2021 as a reference, the total market value of cryptocurrencies increased from US$193.3 billion to US$1,052.8 billion, an increase of 445%.

At the end of 2019, the cryptocurrency market value rankings from high to low were BTC, ETH, XRP, etc., and the sum of the top 10 was 176.2 billion US dollars.

One year has passed, and the total market value of the top 10 has become 948.8 billion US dollars, and the respective increases are as follows

(Note: The increase in USDT market value is due to an increase in circulation of 19.5 billion US dollars)

Among the mainstream currencies, ETH performed the best, and the market value of Ethereum squeezed into the TOP100 global assets.

EOS performed the best, and deserved the reputation of "Three Waves Finished the Algorithmic Stablecoin".

Ripple, which was prosecuted by the SEC, only rose by 67%, becoming a laggard.

If investors allocate their funds to the top 10 cryptocurrencies in proportion to their market value without using leverage, they would have made a profit of 439% in the past year, underperforming the market by 6 percentage points.

If the investment is concentrated and the funds are invested in BTC and ETH, the return is 484%, outperforming the market by 39 percentage points.

In other words, as long as there are big pies and aunts in the investment portfolio strategy, you will not lose in the past year, it is just the amount of money you make.

In fact, the above-mentioned investment portfolio configuration is similar to Grayscale’s product structure, with Bitcoin accounting for the majority, followed by Ethereum and other assets.

From the perspective of holdings, Bitcoin and Ethereum are 24.2 and 3.5 billion US dollars respectively, which are the trust products with the best returns in Grayscale.

However, after the end of ETHE's six-month lock-up period on January 4, 2021, the trust's premium rate plunged by more than 90%.

Institutions that think of buying Grayscale assets through premium arbitrage may be disappointed.

At the same time, Grayscale has blocked XRP, and will temporarily suspend XRP transactions starting at 5:00 pm Eastern Time on January 15, 2021.

The anonymous coin ZEN is the only private currency in Grayscale’s fund. After all, compared to several other established currencies, the age and market value of ZEN are far from the others.

The reason for the emergence of ZEN is that Grayscale is a subsidiary of DCG, and DCG invested in ZEN in 2018. After that, Grayscale quickly opened a ZEN trust, clearly carrying private goods.

If you want to further outperform the market, what should you do?

Perhaps, the most unmissable thing is DeFi.

Taking the lock-up scale as an indicator, the top three are Maker, Aave, and Uniswap, with USD 4.38, USD 2.89, and USD 2.76 billion respectively.

In terms of token performance, MKR has surged 150% this month, making it up 235% in the past year.

As for Aave, the original token LEND is the existence that makes many people swell their thighs, and it once skyrocketed a hundred times this year.

Although UNI was only listed on the exchange in September last year, it still rose by 71%, and the airdrop was extremely generous. The project party issued a big red envelope of 1.5 billion US dollars. It is estimated that each user is rewarded with at least 400 UNI (currently worth $2356).

On the subdivision track, YFI (assets) has increased by 41 times (from July last year to the present), Nexus Mutual (insurance) has increased by 3.5 times (from July last year to the present), and Hegic (derivatives) has increased by 1 times (from September last year to the present) ), badger dao (assets) rose by 89% (from December last year to the present).

Link (oracle machine) has accounted for more than 7 times the increase in the past year, and has become a favorite of many people.

In other words, even if investors do not get airdrops, they can still get good returns if they buy these assets immediately after they are listed on mainstream exchanges. Of course, this has a lot to do with the background of the big bull market.

It is worth noting that the lock-up volume of yearn.finance decreased by 31% from the peak period.

At the same time, not all DeFi projects can rise in the bull market.

For example, the prices of CRV and DODO of DEX have been falling all the way; The 100 times currency REP in 2017 is still rolling in the mud, and its price has shrunk by 94% compared to the peak.

Guosheng Securities made a statistics on the large A-shares: the turnover of the bottom 50% of the stocks in the market value has been declining year by year, 33%, 27%, 23%, 22%, and 19% respectively from 2016 to 2020.

Perhaps, similar things are happening in the encryption circle.

Cryptocurrencies with lower market capitalizations, instead of being friends of time, are enemies.

In addition, according to incomplete statistics, there have been more than 40 attacks in the DeFi field in 2020, with losses as high as 178 million US dollars.

Among them, the insurance project Cover Protocol was attacked by hackers, and the price of COVER plummeted from around $800 to almost zero.

Harvest Finance, an aggregation protocol, Pickle Finance, which helps stablecoins achieve strong price anchoring, and bZx, a lending protocol, were also attacked by hackers, losing $31.33 million, $20 million, and $1 million respectively.

"Leek works for the exchange, and the currency circle works for hackers."

It hurts, old man.

above,

To buy mainstream currencies such as BTC and ETH, you only need to be guided by the perception of the general trend and compete with your own greed.

To buy altcoins, in addition to cognition and greed, you also need to be wary of scammers and hackers.

He who gazes into the abyss, the abyss also gazes into him.

Those who try to cut leeks will eventually be cut.