The Godfather of Coin Speculation 4.3: What is the relationship between the skyrocketing Ethereum and Grayscale?

玩币团长

特邀专栏作者

2021-04-03 12:03

This article is about 2024 words, reading the full article takes about 3 minutes

“Decentralized Finance (DeFi) is back in the spotlight in early 2021 after first seeing growth in the summer of 2020."

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“Decentralized Finance (DeFi) is back in the spotlight in early 2021 after first seeing growth in the summer of 2020."

News side:

1. Vijay Boyapati, a former Google engineer and Bitcoin researcher, said on Twitter that in the final stage of Bitcoin monetization, everyone will think that Bitcoin should become the world currency, which is easy to understand.

2. The market shows that the yield on the 10-year U.S. Treasury bond has risen again and is now at 1.704%.

3. The non-agricultural employment population in the United States recorded an increase of 916,000 after seasonal adjustment in March, which was better than the market expectation of 647,000, the largest increase since August last year. At the same time, the unemployment rate in the United States recorded 6% in March, continuing to hit a new low since March last year.

The number of non-agricultural employment in the United States increased to 916,000 in March, which was better than market expectations. Good data indicates that the economy is beginning to improve. This vibrant employment report can drive interest rates up and make the dollar more attractive to foreign investors. It is good for the US dollar, and there will be expectations of weakening Bitcoin. In addition, there are data showing that many institutions have bought call options on Bitcoin, which shows that the external environment is still sentimental about this market, and the future is still worth looking forward to.

In the recent period, Ethereum can be said to be popular again. As of the early morning of this morning, the highest point has reached 2,100 US dollars. Although the exponential growth of Ethereum has been witnessed in the second half of 2020 and several years, how this year's grayscale can become the key factor behind the growth of Ethereum is indeed worthy of everyone's attention.

Compared with the price at the beginning of the year, the mainstream currency has increased by more than 180% in just three months. Although there are relevant reports that this is due to the popularity of the Grayscale ecosystem, there are more subtle relationships between Ethereum and Grayscale.

The TVL locked in Grayscale has increased from one billion to nearly 13 times in the summer of last year, and the data from DefiPulse highlights the staggering figure of TVL of about 45.45 billion US dollars. Just last year at the same time Ethereum was witnessing a surge in user activity and interest, both of which have been well documented on its price charts. However, the interest in Grayscale has also raised questions about the sustainability of Ethereum as a platform, so as people's interest in Grayscale has increased, transaction fees and Ethereum's Gas surge have also attracted more criticism and scrutiny of the platform. ."A recent report from CoinMetrics highlights how 2021 compares to this theme. The report states: “Decentralized finance (DeFi) is back in the spotlight in early 2021 after first seeing growth in the summer of 2020.

All the major grayscale tokens had a good first quarter, most of which rose by at least 100%. In addition, there has been a surge in demand for NFT in recent months. Its popularity and popularity It’s also possible that the explosion in levels played a key role in driving Ethereum’s adoption value.

Well, with the rise of Grayscale tokens and NFT has become the focus of everyone's attention again, but it turns out that this year is a bumper year for its field. So this still has a good explanation for Ethereum. The recent price increase not only comes from the fundamentals, but also from the growth of Grayscale.

In addition, what everyone should know is that the transaction fee of Ethereum soared to a new high in early 2021. In terms of the current background, the average transaction fee of Ethereum reached 5.7 US dollars during the peak period of the bull market in about 17 years. However, since 1.18 this year, its average daily transaction fee has exceeded 5.7 US dollars per day. This data can undoubtedly better explain the rise of Ethereum and the benefits in the later period.

Grayscale has always been the main catalyst for the growth of Ethereum, but in the short term it also poses a challenge to the network. This challenge was reflected last year, so more changes need to be made this year regarding the sustainability of Ethereum. The godfather’s previous articles rarely wrote about the analysis of Ethereum, because after all, the fluctuation of Ethereum is linked with Bitcoin during most of the market time.

4.3 Strategic Layout of Articles of the Godfather of Coin Speculation

Bitcoin:

The daily K-line has passed through the Bollinger Bands and began to rise gradually. Although there is still more than a thousand dollars away from the upper track of the Bollinger Bands, breaking a new high does not mean that the upward momentum is sufficient. It can only be said to be expected. KDJ's current intention It is not obvious that the top of the MACD deviates from the shrinkage and goes up, and the moving average still maintains a steady upward trend. It is not difficult to see that it will continue to stand above the 60,000 US dollar mark within the day. After the 4-hour K-line oscillated and went down to Brin Zhonggui, it began to pull back and approach the upper track 59900. KDJ has an upward closing trend. The comprehensive judgment of MACD heavy volume and high deviation looks at 59500-60300-61200, and looks at 59050-58950-58250.

Operation suggestion:

The godfather of currency speculation has been in the currency market for 7 years. From being ignorant at the beginning to becoming familiar with it later, from losing money at the beginning to making money now, from making orders blindly before to investing rationally now, from fighting alone before to now with a team operate. 7 years is just the beginning, what I want to do is 20 years, forever. I firmly believe that those who do everything for 7 years must turn an industry from a public to a professional. The content of this article is exclusively planned and released by the team of senior analysts, the Godfather of Speculation (public account: Godfather of Speculation). If you want to know more about real-time investment strategies, solutions, methods, trading techniques, operating skills, and K-line, you can add it to my learning Communication, I am the godfather of currency speculation, I hope to help you find what you want in the currency circle.