Bitcoin: There is a high probability of volatility over the weekend, around 30,000

Fed's Mester said that the next two rate hikes of 50 basis points each are reasonable, and that more measures will be considered at the September interest rate meeting. In fact, this is a very dovish signal, which stabilizes the morale of the troops, because at least before September, the United States will maintain the current situation without any accidents. All of this has been factored into the market price. The negative impact is seen as positive. The U.S. stock market has a V-shaped reversal, and the expectation of continued tightening has kept the dollar high. The Fed has won applause again, achieving a double harvest of currency and stock market. It is no wonder that Powell successfully completed his re-election yesterday. He is indeed outstanding in the management of market expectations.

LUNA is still the hottest topic in the market. The minting volume exceeded 3 trillion yesterday, and the total minting volume has approached 7 trillion. Subsequently, the Terra team stated that it would no longer mint new coins in the future, which is to give up UST in disguise. The founder Do Kwon proposed to rebuild the ecosystem, issue new LUNA tokens, and take snapshots of UST and LUNA holders before decoupling and airdrop new tokens. At the same time, he said that he did not make a profit by selling LUNA and UST, and apologized to the victims. An apology and a fresh start, the zeroing problem is over. The crypto market has fallen by 500 billion US dollars due to the panic caused by LUNA, and the panic has not been released until now. This Do Kwon is simply a sinner in the history of the currency circle. His evil deeds are even more shameful than the domestic scammers who issued ICO air coins that year. How many people’s wealth has been destroyed because of this, and this person’s future projects are unlikely to succeed. At the same time, the rumor that GAM invested 1-2 billion US dollars in LUNA was also refuted by GAM. So far, the death of LUNA has come to an end. The remaining 7 trillion LUNA tokens will begin their MEME journey. As for how high speculators can speculate, it depends on the madness of the market. Kuang Ren believes that the market value will be about 2-3 billion US dollars, which is about 0.0003-0.0004. There is not much room. Last night, Kuang Ren also reminded the VIP group of the speculative opportunities of LUNA at the first time, and completed 7 times the profit overnight, which can be regarded as a ray of light in the falling market. (If you are interested, please contact Kuang Ren's assistant QQ: 1340261895)

Through the LUNA incident, Kuang Ren wanted to cheer everyone up. The whole incident became a huge wealth transfer, and within just one week, Kuang Ren reminded everyone not to buy the bottom of LUNA at the first moment of the death spiral, because there is no bottom, unless UST can return to the anchor. At this time, if you know how to roll over and short, it means you can add a short every time it drops 5-10 times, then you can probably double it 9 times by 1.8 times, which means a total of 198 times. Then you can use the money from short selling to buy UST below $0.1 and mint LUNA worth $1. You don’t have to do anything and your principal will be doubled 10 times. When you see CZ publish a message to resume Binance LUNA trading and stop minting LUNA, if you have experienced SHIB, you will realize that this is a MEME opportunity with consensus. Charge the currency to Binance with the best liquidity and get it at this moment. You will double it 10 times again. At this time, if you step on all of them, you have doubled 19,800 times. For LUNA with a daily trading volume of 7 billion US dollars, the liquidity is sufficient. The transaction will not be perfect, but if you catch a wave, it is an opportunity to double 10 times overnight. The fundamental logic of wealth transfer is that you must have an understanding of the market. In the final analysis, it is the wealth transfer caused by knowledge. Therefore, it is not that there is no opportunity to get rich in the currency circle, but you have to wait for an extreme market. At the same time, you have enough knowledge and complete the unity of knowledge and action. So far, the madman also briefly summarizes what knowledge you need for this wave of 19,800 times.

1. To short a contract, you need to understand the contract, understand position management, and understand that shorting requires rolling positions to make big money, because even if the short position returns to zero, you can only get a profit of one times the principal;

2. You need to have a deep understanding of the relationship between LUNA and UST, how to execute the death spiral, how to mint LUNA without limit, and how to operate the minting and destruction on the Terra chain (DEFI);

3. Have a deep understanding of MEME coin, understand that after unlimited minting is stopped instantly and there is no contract to continue shorting, the supply and demand relationship will be directly improved, which will be an excellent MEME opportunity. At the same time, you must understand that Binance's liquidity will expand the increase of MEME, so that you can sleep peacefully after buying; Each point seems to be a simple sentence, but it requires a lot of learning and accumulation, and the currency circle is a brand new track. As long as you run faster than others, you can harvest those investors with lower levels of cognition and complete the transfer of wealth. If you didn’t understand the previous paragraph, I hope you will read it a few more times. The fundamental logic of the entire ten thousand times is just this.

The Canadian Bitcoin spot ETF received 6,900 bitcoins yesterday, a record high. Institutional funds have returned and the panic has been temporarily released.

Emirates Airlines plans to support Bitcoin payments and add NFT transactions on its website. This was only mentioned yesterday, so it was implemented really quickly.

Bitwise CEO said that most companies did not sell cryptocurrencies and endured this round of decline. I saw that at least several large companies holding cryptocurrencies did not sell, but as for those small institutions, it is hard to say. Galaxy Digital and MicroStrategy are good examples. The former reported a net loss of $300 million in comprehensive income in the second quarter, mainly due to the decline of cryptocurrencies.

The SEC is seeking further review of the WisdomTree Bitcoin Spot ETF. The last review was postponed from March to May. This time, the SEC asked a bunch of questions and will postpone it for another 21 days to wait for WisdomTree to submit various data and arguments. This seems to be an improvement.

After the collapse of LUNA's UST, investors began to turn to other stablecoins, with DAI taking the largest amount, so the direct beneficiary was MKR.

USDC released a report, the audited reserves totaled US$50.6 billion, including US$11.6 billion in cash and US$39 billion in US Treasury bonds, reaching 100% full reserves. USDC is compliant and regulated, and is currently the safest stablecoin.

The LUNA Foundation still has $1.2 billion worth of reserve Bitcoins missing. Previously, it only took out $750 million to lend to loan companies. Later, it said that the reserve funds of more than 1 billion could not fill the plate of tens of billions, so it did not rescue it. The money was not mentioned again afterwards. Let's wait for news. It is estimated that it will be used for new projects.

The destruction of 1 billion USDT was related to the previous bank run.

The panic index is 9, reaching single digits for the first time this year. You can judge for yourself whether it is an opportunity.

Coin News:

Bitcoin: There is a high probability that it will fluctuate around 30,000 over the weekend.

Ethereum: Core developers said that the test network Ropsten is expected to be merged on June 8. It seems that 2.0 is getting closer. We need to keep an eye on it and continue to cooperate in the short term.

KAVA: A victim of UST. Since its stablecoin USDX reserve contains UST, it is decoupled, which will have a certain impact on the price of KAVA.