Fear index is 18, generally below 20 there are opportunities

Today I saw an announcement from an A-share listed company, saying that it has the ability to issue digital RMB hardware wallets. I laughed for half a minute. Digital RMB does not use blockchain as its underlying technology, so what hardware wallet can be developed? It's just a digital counter. The technical level is probably not as good as the algorithms of a calculator. This kind of magical thing can always be seen in the A-share market. Listed companies do not aim at innovation, but rely on packaging and deception. Their business model is that it doesn't matter whether the cat is black or white, as long as it can make money. No one cares about the long-term interests of small and medium shareholders. This is the epitome of the fact that the stock market has been at 3,000 points for more than a decade.

The largest Defi protocol on Luna, Anchor, saw a sharp drop in locked-up volume. A large amount of locked UST was sold on the market, causing UST to decouple in the short term, falling to 0.98 at its lowest. Subsequently, the trading volume of ETH/stETH in the Curve pool surged. Logically, ETH was redeemed, ETH was sold, and UST was bought to maintain the anchoring of UST. At the same time, an anonymous address transferred 20,000 ETH to Binance, and exchanged 1,000 ETH for UST and USDT on Dex every few minutes. Everything points to an activity of selling ETH and buying UST. To put it bluntly, people holding ETH paid for the annualized 20% return of UST staked in Anchor, and were cut off by scientists, and they didn't know how they were cut. After all, the currency circle is composed of the world's top people, and it's not a joke.

Nearly 75% of Argentines are willing to buy cryptocurrencies for savings purposes. After all, compared with the Argentine peso, the volatility of cryptocurrencies against the US dollar is not that great. The legal currencies of these countries are too unstable, and holding cryptocurrencies at least offers a dream.

The chief strategy officer of Coinshares said that the government will try to ban Bitcoin and other cryptocurrencies. The company manages $5 billion in crypto assets and should have received some instructions from the government of a certain country. He did not say anything about the specific situation, but the madman still holds the same view that if it can be banned, cryptocurrencies will return to zero in 2017.

Instagram plans to support NFTs of the ETH, MATIC, SOL, and FLOW public chains, which shows that these four networks are relatively stable and promising, at least in the NFT field, and can serve as a reference for our investment.

The entire network had a liquidation of 246 million US dollars in 24 hours. Fewer and fewer people are doing contracts. According to the past, this kind of drop would have been at least 500-600 million yuan. This shows that the market has entered an extremely cold zone, which is a good thing.

Panic 18, generally below 20 there are opportunities.

Coin News:

Bitcoin: This time, UST did not smash Bitcoin when it was unpegged to LUNA. It chose to smash ETH first. In order to protect itself in the future, it seems that it is only a matter of time before it smashes Bitcoin. This is really a scam. In the past 7 days, 53,000 Bitcoins have flowed into the exchange. This inflow is indeed a bit large. At the same time, the third largest whale bought 1,000 Bitcoins. In short, 35,000 Bitcoins were not maintained. It may continue to bottom out. If it continues to fall, I will consider adding some more positions. The overall fluctuation of 30,000 to 60,000 this year was set by us at the beginning of the year. Just execute according to the strategy.

Ethereum: It has reached the 2500 support level. This position cannot be broken easily, otherwise the bulls will be passive.

ENS: Revenue in April was $7.83 million, reaching the second highest monthly revenue in history. The main reason is that there is no strong expectation of continuous growth. The outbreak was caused by airdrops, so the price of the currency will be like this in the short term, with fluctuations as the main trend.