Panic index is 42, and the risk appetite of funds is gradually returning

The US stock market continued to rise overnight, indicating that the risk capital's expectations for the Fed's subsequent rate hikes have gradually weakened. Most institutions believe that the Fed will raise interest rates by 50 basis points in September and November, which will be gradually relaxed compared to the current 75 basis points. The risk appetite of funds has gradually returned, and the rise of US stocks has proved this to us. For cryptocurrencies, it can be said that it stabilized, rose, and consolidated before the US stock market, which shows that the trend of the crypto market is more market-oriented and the capital's sense of smell is more sensitive. For the industry, the worst time has passed, because every crypto crash is accompanied by deleveraging, so it is always extremely tragic. When the leverage is truly lifted, it will be a process of gradual supply and demand balance. Because it is an incremental market, the final demand will be greater than the supply, and then a new wave of rise will begin. The position we are in now is a small boom period after deleveraging, which is very profitable. The first wave of rebound has ended, and next month, it will be the start of the second wave of rebound.

Charles Schwab has launched the first cryptocurrency-related ETF. Schwab is one of the world's largest asset management companies, so the launch of its crypto ETF will bring huge growth, and once trading is open, it will bring a certain amount of heat to the market.

The Minister of Digital and Finance of Gibraltar said that he has invested in Bitcoin and bought it for his children. Buying Bitcoin for children is actually buying a dream. If his revolution succeeds and the legal currency status is completely transformed into a currency with global consensus, then his future will have at least 50-100 times of increase. However, if the revolution fails in the end and the experiment ends, it may fluctuate around a constant value. After all, Bitcoin still has many uses and values ​​that cannot be replaced by legal currency. So if you have spare money, it is okay to participate in a gamble on the unknown world (20-year investment cycle). In the past 3-5 years, it is still an incremental market, so there is no need to worry about the end of the bull market.

In July, the dollar transaction volume of NFTs on the Opensea Ethereum chain fell by 25%, but the number of users and the number of NFTs rebounded. As the market warmed up in the past two days, we can clearly see the rapid increase in transaction volume. Therefore, it is expected that the NFT market will also have a wave of recovery in August, which can be regarded as an oversold rebound.

According to a recent Deloitte survey, nearly 75% of retailers plan to accept cryptocurrency payments in the next two years. This shows that the crypto market is still changing real-world applications like crazy. Perhaps in the future, cryptocurrency payments will be as convenient as WeChat and Alipay in the international market. Just scan a code and complete the transaction at almost zero cost. Moreover, this type of asset is universally used, which is a dimensionality reduction attack on the Internet era.

Argentina's Banfield Football Club uses stablecoins to pay for player transfers. This shows how much distrust there is in Argentina's own currency. The currencies of these emerging countries will continue to collapse as the United States begins to harvest the world's wool. Therefore, stablecoins are actually the best blessing for the United States' Bom wool. Many countries will begin to use digital dollars through stablecoins.

The supply of bitcoins that have been inactive for 10 years is nearly 2.5 million, a record high. It is unknown when these silent bitcoins will wake up, or perhaps they will never wake up. As time goes by, the effective supply in the market will become smaller and smaller.

Upfront Ventures raised $650 million for three new funds, mainly for investment in fintech, computer vision and gaming infrastructure. Two of them are related to the crypto industry, which is considered a good incremental capital.

Panic 42, getting closer and closer to neutral.

Coin News:

Bitcoin: Being able to maintain sideways trading at a high level is a very strong trend. If it can maintain this trend until Monday, the probability of continuing to attack 27,000 next week will greatly increase. The trend is healthy and the main strategy is to hold the currency.

ETH: It is also moving against the pressure point, which means that the selling pressure at the pressure point is not as great as expected. When people's emotions rise, the pressure point may have a chance to break through, so it is mainly held. The Fed is accumulating Ethereum as one of the USDD reserve currencies, which means that Sun Ge is also optimistic about the future of ETH. After the merger, it will gradually stabilize and strengthen.

MATIC: Mercedes-Benz and Polygon cooperate to develop a blockchain-based data sharing platform. The entry of Mercedes-Benz gives Matic greater room for imagination, indicating that this L2 public chain has entered the vision of traditional industries and is still worth looking forward to in the long run.

NEAR: Invite Harmony ecosystem developers to join the NEAR community and raise a lot of rescue funds. NEAR has done a good job of taking advantage of the situation. At least it is more operational than ONE. Under such good market sentiment, the ONE team only cares about people's previous theft of their funds and does not care about the market value at all. In the past, such projects have rarely been successful, so it is possible to consider allocating ONE's market value to other back-end public chains. As for NEAR, you can try to make up for the expected increase.

SHIB: In the past two days, Ethereum whales bought SHIB worth 3 million US dollars. This shit coin is still being bought by big investors. I don’t know what the logic is, but at least judging from the trend, there is room for catch-up and it can be held.

It is expected that the market will continue to fluctuate over the weekend, and small coins will have local opportunities driven by sentiment. If you encounter a small coin that rises sharply, you can consider taking profits in the ultra-short term.