Produced by Odaily

Editor | Hao Fangzhou

Produced by Odaily

Bitcoin's upward momentum mainly comes from overseas

Exchange Weekly Trends

Exchange Weekly Trends

On May 4, Indian cryptocurrency exchanges asked the central bank to clarify their status and how they pay taxes.

On May 3, funds from the exchange CoinGather were seized, and the U.S. Department of Justice is looking for users to claim compensation.

On May 1, the Japanese exchange DMM Bitcoin has registered as a first-class financial commodity trading service provider.

On May 1, Intercontinental Exchange CEO: Bakkt acquired Bridge2 Solutions with a turnover of nearly $300 million.

On April 30, Binance announced that it would donate $3 million to fight against the "epidemic" for medical staff in the Caribbean.

On April 29, Iran’s risk aversion sentiment increased, and the trading volume of the local cryptocurrency exchange Bitisis continued to rise.

On April 28, FTX plans to launch a spot crypto exchange in the United States in May.

Exchange data statistics

Exchange data statistics

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source:Alexa   

According to Alexa statistics, the Binance website UV (unique visitors) this week was 896,000/day, a decrease of 26.4% from last week; meanwhile, the PV (page views) was 4.928 million/day, a decrease of 27.7% from last week. Binance, as the leading exchange in the encryption world, occupies most of the market traffic, which shows that the overall market traffic has declined recently

source:

source:Dapptotal      

Note: According to the statistics of Dapptotal combined with the historical price trend of BTC, it is found that the number of active users of DEX users is positively correlated with the price. In December 2017, the price of BTC reached a peak of 120,000 US dollars, and the number of users of Dex reached a peak of 9340; in April and May of 2018, the price of BTC rebounded again, and the number of active users of DEX also rebounded again; therefore, the number of users of DEX can be used as a judgment A reference indicator of market trends, but in the transaction volume and number of transactions counted by Dapptotal, the research institute found that its trend is not as highly correlated as the number of users and the price of BTC, so the number of users is intercepted as a reference indicator.

Note: According to the statistics of Dapptotal combined with the historical price trend of BTC, it is found that the number of active users of DEX users is positively correlated with the price. In December 2017, the price of BTC reached a peak of 120,000 US dollars, and the number of users of Dex reached a peak of 9340; in April and May of 2018, the price of BTC rebounded again, and the number of active users of DEX also rebounded again; therefore, the number of users of DEX can be used as a judgment A reference indicator of market trends, but in the transaction volume and number of transactions counted by Dapptotal, the research institute found that its trend is not as highly correlated as the number of users and the price of BTC, so the number of users is intercepted as a reference indicator.

source:

source:Bakkt Volume Bot

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Among them, the green line is the price trend of BTC, the blue line is the price trend of BNB, and the orange line is the price trend of HT.

source:tradingview

Among them, the green line is the price trend of BTC, the blue line is the price trend of BNB, and the orange line is the price trend of HT.

This week, Bitcoin fluctuated in a wide range, and BNB and HT followed the trend of BTC.

source:

source:aicoin

analyst point of view

analyst point of view

The price of Bitcoin has skyrocketed recently, and the purchasing power mainly comes from exchanges that focus on overseas users

When Bitcoin rose rapidly on April 29, the open interest of Bitcoin futures did not rise but fell, indicating that the upward momentum did not come from the derivatives market during the Spring Festival; compared with the spot market, exchanges that focus on overseas users such as Binance, Bitstamp, Coinbase, etc. all have obvious premiums, and their volume is also significantly higher than exchanges that focus on domestic users, such as Huobi and OKEx, etc., indicating that the entry funds may mainly come from overseas, and mainly in Bitcoin. On spot transactions.