1. Industry Interpretation

1. Industry Interpretation

Recently, BTI (Blockchain Transparency Institute) has continuously exposed the false trading behavior of exchanges. And yesterday, OKEx is no longer silent, responding to BTI (Blockchain Transparency Institute)'s allegations of wash trading is inaccurate and misleading. To this day, the battle is still heating up. Both sides insist on their own opinions, and it is difficult to distinguish right from wrong.

Here's the thing, BTI is an association of blockchain data researchers and enthusiasts who hope to bring more transparency and trust to the crypto space. These people have been working on their own evaluation system since last year, claiming to provide more transparency for the real turnover of cryptocurrency exchanges. That is to say, they want to clean up the cloak of cryptocurrency exchanges for swiping orders and forging trading volumes.

Based on the results of their months of research, it was an eye-opener. Although it is no secret that the exchange volume is no longer a secret, the report mentioned that about 88% to 92% of the transactions in the entire cryptocurrency market are fake transactions every day, and 92% of the Bitcoin transaction volume is fake. Let alone leeks with these numbers, the editor is terrified.

Well-known exchanges such as OKEx, Huobi, Bibox, and HitBTC have become the protagonists of the emperor's new clothes. More than 10% of transactions on Binance are wash transactions, more than 50% on Huobi, and as high as 90% on OKEx. What? Is everyone doing fake transactions on OKEx?

At present, the incident is still continuing to ferment. Cointelegraph and other well-known foreign media in the currency circle were also drawn into the auditorium. It seems that this time BTI will cause a lot of trouble again.

JayHao, the boss of OKEx, stood up and pointed out that 90% is a fake number. Even with 100 bitcoins as a bet, OKEx can produce evidence to prove that his 10%+ trading volume is real, so I ask you, do you dare to bet? This can be said to be full of confidence.

The editor personally believes that although I don’t know how BTI evaluates it, the figures disclosed this time on the trading volume of OKEx and other exchanges are unconvincing. Not to mention that its team is extremely mysterious, and there are still doubts about the processing of transaction data.

2. Today's market overview

2. Today's market overview

Today's total market capitalizationIt was 2560 US dollars, a decrease of about 2.5% compared with yesterday. The total market value of the market fell slightly last night, bottoming out in the short term, and BTC and other mainstream currencies stopped falling and stabilized within the day. Today's total transaction volume is 57.9 billion US dollars, an increase of 23% compared to yesterday. A few days ago, the market was in a wait-and-see mood, and the trading volume continued to decline. Until last night, the market shipped a lot, and the trading volume also rose sharply.

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Germany's second largest stock exchange officially launched a digital asset trading platform; Swiss stock exchange SIX launched a digital asset trading test platform; IBM is willing to cooperate with Facebook on its digital currency business.According to Alternative.me statistics, the market sentiment today is panic, with a panic and greed index of 39, a slight increase in the level of panic compared to yesterday's 41.

Among the top 100 currencies by market capitalization today, most of them are still mainly in decline. The second-tier currencies are weaker, and BTC is relatively stronger. The biggest drop today is ABBC. ABBC pulled the market sharply in the past few days, but it started to pull back today, with a drop of 13%. The biggest gainer today is NRG. NRG has started a roller coaster market since the middle of the year. The general direction is downward, and investment needs to be cautious.

4. Trading volume analysis

The market trading volume has picked up sharply today, and the trading volume of most currencies has increased sharply. A large number of BTCs were shipped last night. After hitting the bottom today, people came to buy the bottom. The trading volume increased by about 30% in a single day. The second-tier currencies were washed again, and the market gradually became active. At present, BTC has reached a key support level. If it cannot be supported, it may be sold in a panic.

5. Stablecoin analysis

5 minutes

Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.

6. Technical Analysis

BTC/USDT secondary market trend analysis (Huobi spot)

5 minutes

30 minutes

[BTC] BTC continued to fall all the way to around 9600 yesterday, stopped falling and stabilized. This position is a strong support level at the 4-hour level. Short-term bulls are highly recognized and will not easily break through. Now from the analysis of the 30-minute level, it is still in an obvious downward trend, the signal of stabilization is not very obvious, and it still needs to oscillate and gather momentum to digest the upper selling; combined with the small-level 5-minute level, the shock interval has roughly formed, and the range is in Fluctuating within 9630-9790, the possibility of a short-term ups and downs is unlikely, so continue to move around the box.

In summary,In summary,Now BTC is in a large-scale downward trend, and the support around 9600 is very strong. It is not easy to break through quickly, and the bulls will continue to struggle in this position.

ETHThe operation suggests that the rebound is not strong, mainly shorting around 9800, with a stop loss of 80 knives.: The 30-minute rise of ETH shows signs of ending, because the adjustment range is too large, which has destroyed the rising structure, so the short-term can only be treated as a rebound trend.

EOS：The operation suggests that the short-term should be short-term around 202, and the stop loss price is 205.EOS is caught in a major level adjustment, and the trend is weak, but the support around 3.6 is strong, and there is no small room for decline if it cannot hold up

LTC：. Operational recommendations are mainly shorting around 3.75, with a stop loss price of 3.9.LTC was directly beaten back to its original shape by a big negative line, the trend was very weak, the structure was completely broken, and it was mainly repaired in a short time.

BCH：The operation suggests that the short-term short-term is mainly around 67.5, and the stop loss price is 69.BCH directly smashed the box, and the downswing is very strong, there is no divergence, and the short position is very firm.

The operation suggests short-term short-term near 293, and the stop loss price is 296.