The market is in a clear recovery period, which is the recovery stage after the bottom.

As all parties anticipated the arrival of ETH2.0, the market began to turn from weak to strong, especially ETH itself. This wave of rise has broken through the shock platform of nearly a month. Yesterday morning, it rose by nearly 17% in a short period of time, and a large number of short positions were liquidated. At 0: 00-0: 30, the entire network liquidated 210 million US dollars, and Ethereum accounted for 170 million, indicating that this was a precise attack on short positions and one of the ways for longs to collect cheap chips at low positions. The mainstream view now is that the probability of Ethereum completing the merger at the end of the year is high. After the merger, Ethereum will reduce production by 90%, which is equivalent to 3.2 Bitcoin halvings. At the same time, it will increase the Ethereum pledge from 10% to 30%. This is a huge impact on the supply side and the demand side. Therefore, before and after the arrival of 2.0, Ethereum should be a relatively strong period.

This week, the correlation between Bitcoin and the Nasdaq has dropped to the lowest point since January this year. This is a very good signal, which means that Bitcoin is breaking away from the US stock market and taking the lead in strengthening. Since Bitcoin is less affected by favorable policies and there is no financial rescue behavior in various countries, it has more market-oriented behavior. Under this, it can follow an independent trend, which shows the authenticity of its upward trend and the low probability of fraud. At the same time, on-chain data shows that 80% of Bitcoin investors have held it for at least 3 months, which means that most Bitcoins have entered a dormant state and the selling pressure has dropped to an extremely low level, which is conducive to a continued rebound in the future market.

On the other hand, a large number of Bitcoins were transferred out of miners' wallets yesterday, indicating that a large number of miners sold Bitcoins during the rebound of Bitcoin. Even so, Bitcoin still held its ground. The only logic for miners to sell at this position is to realize their expenses, because most mining farms need to repay loans and buy electricity, which is a necessary cash flow and is a purely forced and helpless move.

The founder of Interactive Brokers said that if Bitcoin falls to 12,000, he plans to continue buying it. He said that he still holds some Bitcoin. These billionaires basically live on position management, so you never know how many bullets they have behind them. Interactive Brokers has already provided cryptocurrency trading services, which also means that the company is optimistic about the future of the crypto market.

According to the Binance report, by June 2022, the number of GameFi projects has grown steadily, reaching 1,551 games. It seems that blockchain + games + finance still have a future. However, what makes GameFi madmen most confused is that if playing games is regarded as a career to make money, will games no longer be called games? Can the fun in them still be experienced? I don’t know what you think about this question.

The report shows that DeFi's daily active users grew by 24% in the second quarter, but the market value of the DeFi sector has dropped significantly, which shows that DeFi's market stickiness is very good. With most users retained, it has also brought more growth. The DeFi field has eternal interests, so it is likely to get better and better. As Mumu Chong said, the transparency of DeFi's smart contracts seems to be the biggest challenge to traditional financial fee collectors.

Andorra has passed a crypto asset bill, which allows people in the country to create their own tokens while creating a regulated distributed ledger environment. Another country has embraced the crypto market and provided a relatively relaxed crypto environment.

AEX has suspended all operations on the platform and is fully cooperating with the police investigation. It seems that Mr. Huang may have surrendered himself or been arrested. It will be difficult to redeem the assets in it. I still recommend that you use a large exchange. If you need any help, you can add the assistant QQ: 3064545893

A member of the U.S. Department of Homeland Security said that the U.S. government knows who Satoshi Nakamoto is, and that it is a group of four people. This is a bit weird, and I don’t know if it’s true or not. If it’s true, it’s bad news.

Panic 24, the number of consecutive days of extreme panic still makes history.

Coin News:

Bitcoin: With the rebound, the total market value of cryptocurrencies has returned to more than 1 trillion US dollars. Led by Ethereum, Bitcoin is expected to continue to hit the strong pressure zone of 23,000. This position is similar to the position of Ethereum 1,300. Once it is broken, it will accelerate upward, so it is probably not that easy. It will take some time for repeated turnover. Focus on whether 22,000 can stand firm.

Ethereum: The trend is still strong. There is still a chance to break through yesterday’s high of 1420. The strong pressure above is at 1600. Before that, we still expect a strong rebound.

XRP: Ripple’s recent network transaction activity has surged, mainly due to interactions between whales. It feels more like cross-border finance through Ripple. In short, it is a good signal for the token and is expected to continue to rise.

SLP: The Axie game has been unpopular for a long time, and there are very few new users. However, in the past 10 days, the SLP produced has been lower than its destruction rate. Many existing players have used SLP to start special breeding activities. This kind of currency after a big drop can be considered as short-term speculation. Because its value is not high, do not make value investments in the medium and long term.

The market is in a clear recovery period, which is the recovery stage after bottoming out.