The fall is speechless, and there are several such falls every year.

Last night, the US CPI exceeded expectations, which was unexpected. The expected value was 8.3%, and the data came out to be 8.3%, which made some Fed officials unable to sit still and shouted that they would take immediate action to curb inflation. US President Biden also expressed his views on this, believing that reducing inflation is the primary economic task at present, and he believes that the Fed can do this well. The US stock market was also scared again, but in the end, the decline of the US stock market has narrowed, and even if there is bad news, it is difficult to fall. In the past 30 days, the correlation between Bitcoin and Nasdaq has reached 82%, and the linkage is very strong, setting a new high since July 2020. Therefore, if the currency circle wants to stabilize, it needs certain support from the US stock market.

Another major event is UST and LUNA. The official document launched the emergency plan No. 1164, and directly destroyed UST through various means. For LUNA, the method of sacrificing the pawn to save the pawn is adopted. In other words, LUNA, which currently has a market value of 2 billion, has to protect the selling pressure of more than 10 billion UST. The spiral can only continue. Although it has fallen to 0.1 US dollars, it can still fall at will. It is bottomless on the road to zero until UST really returns to a value close to 1 US dollar. It is obviously extremely difficult to use a small market value to plug the hole of a large market value. Therefore, it is not surprising that LUNA continues to fall. Just wait and see. 8 days ago, when the founder of LUNA was in high spirits, he said in an interview that 95% of crypto companies would disappear. Unexpectedly, 8 days later, the clown turned out to be himself. The changes in the currency circle are so fast that it is amazing. The financial empire of 40 billion US dollars collapsed in an instant.

With the collapse of UST, stablecoins have also attracted the attention of US regulators. The chairman of the SEC said that some stablecoins belong to exchanges, so they evaded regulation. Fed's Bullard also believed that the fluctuations of some stablecoins did not seem to be systemic. At the same time, former SEC officials called on regulators to investigate stablecoins. As a result, USDT, which has not been recognized by regulators, encountered a wave of runs. The run started from Curve's 3Pool pool. USDT quickly tilted to more than 85%, triggering large-scale risk transmission and eventually triggering panic selling. Binance USDC/USDT rose by as much as 13%, and then USDC's market value directly surpassed BNB and jumped to fourth place. After that, it was quickly moved back by arbitrageurs. The current increase has narrowed to 2%, and the risk of a large de-anchoring has been basically eliminated. According to Tether CTO, arbitrageurs cashed out $300 million from Tether.io in the past 24 hours, and the reserve fund is very sufficient. The madman wants to say that even if Tether does not have sufficient margin, it is still easy to take out tens of billions. This is fundamentally different from the algorithmic stablecoin that makes money out of nothing. Therefore, excluding those pledged non-circulating shares, the risk of a run is extremely low and there is no need to panic.

South Korean courts have received support from exchanges to include crypto assets in the scope of liquidation to prevent people from using cryptocurrencies to escape legal responsibility. This also means that South Korea recognizes cryptocurrencies as a real asset class that can be used to compensate for any economic disputes.

Brazilian digital bank Nubank has launched Bitcoin and Ethereum transactions, injecting new vitality into the market.

Australia's spot ETF for Bitcoin and Ethereum trading pairs was launched on Cboe, mainly tracking BTC/ETH and the Toronto Purpose BTC ETF, opening a new path for traditional Australian financial institutions to participate in Bitcoin and Ethereum.

Emirates Airlines C00 said that it is inevitable that it will accept crypto payments in the future, but did not say when it would start.

FTXUS applied for FTX Trust, opening up new investment methods for traditional American institutions. FTX's career in the United States is booming because it is on the right side and has high-level support for various businesses. In contrast, Coinbase is in a relatively bleak situation. It is a model of awesomeness in the Trump era.

ARK's three funds purchased 546,579 shares of Coinbase, continuing to increase their holdings of cryptocurrency assets and looking optimistic about the future development of the industry.

The 24-hour liquidation amount of Defi mortgage lending across the entire network reached 130 million US dollars, a record high this year, which also caused a short-term surge in Ethereum GAS fees. If Ethereum falls to 1500 and 800, a large amount of funds will be liquidated at these two positions, but it is estimated that it will be difficult to stop.

21Shares has launched two ETPs focusing on Defi. Defi has started to gain momentum recently. After two years, there is a chance to set sail again. Whether it is the warm wind of supervision or the active participation of institutions, there seems to be a good opportunity. It should be a good position to build a position.

The panic index is 12 and continues to be in the opportunity zone.

Coin News:

Bitcoin: Many types of mining machines have reached the shutdown price, and the income from mining cannot cover the electricity bill. The balance of miners' addresses has also hit a new low in the past four months. Miners are starting to sell coins to pay for electricity bills. The iron bottom of 30,000 was ruthlessly broken today. There may be copper bottom, silver bottom, gold bottom and diamond bottom in the future, but in any case, the expectation of a short-term rebound is still full.

ETH: Ethereum whales completed 2,596 transactions worth more than $1 million in a single day, a new high this year. The plunge caused large funds to turnover frantically, and a coordinated rebound is expected in the evening.

MATIC: Facebook is working with Polygon to enter WEB3. Facebook believes that MATIC has unlimited scalability, is very environmentally friendly, and has a good developer environment. This should be a big medium- and long-term benefit, and you can take advantage of the bargain.