1. Industry Interpretation
1. Industry Interpretation
Today, Coincodecap released the latest investigation progress. According to its report, it found that out of more than 2,000 cryptocurrency projects analyzed, 640 did not commit a single line of code on Github. Of these, many cryptocurrencies are already listed on exchanges with market caps in the millions of dollars.
So what is Github? What's the use of it? GitHub is a hosting platform for open source and proprietary software projects. Github activity can be regarded as one of the indicators for evaluating encryption projects at present. Most cryptocurrency projects will post their codes to Github as open source projects.
For example, Libra, which has been hyped recently, also released the source code on Github.
And Coincodecap is a data website that tracks the Github situation of each project. The chart below shows when these items were last updated. Most projects have been silent since last year.
Ordinary leeks hold these cryptocurrencies on different exchanges, but exchanges generally prioritize their own interests without due diligence. Yobit is the exchange with the most of these Github inactive projects.
2. Today's market overview
2. Today's market overview
Today's total market capitalizationIt was 222 billion U.S. dollars, a decrease of about 13% compared with yesterday. Last night, BTC fell below the super support level, leading the audience to plummet, with a maximum drop of nearly 20%. Today's trading volume surged, and the market was panic-sold in the early morning, and the trading volume also skyrocketed by nearly 70%. Digital currencies led by BTC were sold off in large numbers, and almost all currencies were spared.
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The central bank stated that there is currently no timetable for the launch of digital currency; the first domestic "Digital Currency Dictionary" was officially launched; Bakkt will soon be connected to E-Trade and TD Ameritrade, a large Internet brokerage in the United States.According to the statistics of Alternative.me, today's market sentiment is extremely panic, with a panic and greed index of 15. Since September, the market sentiment has entered a state of extreme panic for the first time.
3. Distribution of currency rise and fall
3. Distribution of currency rise and fall
VSYS has started to go downhill in the past two months, and today’s diving is also the most unstoppable one; BEAM cut a wave of leeks last weekend and left it alone, but today is also unstoppable; Algo, as this year’s star project, has failed in the secondary market Well, after all, the secondary market maintained by pulling the market cannot withstand the smashing of the market.
4. Trading volume analysis
Today's entire market can be described in one word, that is "big sale". Among the top 30 currencies by market capitalization, except for CKUSD whose trading volume is sluggish due to its own reasons, the trading volume of other currencies has an average increase of about 70%. The trading volume of stablecoins has increased significantly, and they are held in large quantities to avoid risks during the decline.
5. Stablecoin Analysis
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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)
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[BTC] The waterfall of BTC last night led the whole market to dive collectively. Among them, some second-tier currencies also fell quite alarmingly. Let's use a different perspective to analyze the 4-hour trend. It can be seen that after yesterday's sharp drop, the overall structure began to be full, but due to the strong energy of the departure segment, there is almost no exhaustion, so the short-term bulls will struggle out of a box. Continue to fall; combined with the 30-minute level, the rapid decline has not yet been completed. In the short term, there will be a small copy of the bottom to gain profits, that is, the short-term high probability is a pattern of slow market decline, and relatively weak short positions dominate overall. .To sum up, BTC's dive last night triggered a large-level breakout, and it will be dealt with by a rebound trend in a short period of time at most.
LTC: Wright's daily rise has almost been reversed, and the downward force has not weakened at all, and there is still a need for further exploration.The operation suggests short-term shorting around 58, with a stop loss around 60.
ETH: The upward structure of ETH has been completely broken. Last night’s decline was directly inserted into half of the large box below.Operational recommendations are mainly shorting around 172, with a stop loss around 174.
EOS: Grapefruit’s downward momentum was fully amplified yesterday, and it can almost be described as a plunge.It is recommended to rebound to around 2.94 for short-term short-term, with a stop loss around 3.1.
BCH: The super large platform of BCH has been directly penetrated, accumulating a large amount of pressure on the holding plate, and the upward space is quite limited.It is recommended to rebound to around 228 for short-term short-term, with a stop loss around 231.
It is recommended to rebound to around 228 for short-term short-term, with a stop loss around 231.
