Today is the last day of April. What is different from the past is that today I will summarize the big events in April and my own analysis. Everyone should feel that the market in April is like a roller coaster. Before the listing of Coinbase, a number of digital currencies began to skyrocket crazily, which made people feel like losing money if they didn’t make a profit today, until after the listing of Coinbase was completed.
Before the listing of Coinbase, I did a live broadcast about Coinbase and the Japanese nuclear leak. In the live broadcast, I mentioned that Coinbase would experience a sharp drop after its listing. Sure enough, just a few days after Coinbase’s listing, the overall cryptocurrency sector fell rapidly. Bitcoin It also fell from 65,000 US dollars to below 50,000 US dollars in an instant, and the market liquidation amount of the day was as high as 10 billion US dollars.
Many people wondered at that moment whether the bear market was coming, but the market gave the answer a few days ago, Bitcoin began to rise steadily, and Ethereum also broke through new highs again. During this period, the Gas fee did not reach an unacceptable level as before. However, after the upgrade in London, it dropped to about 40 Gwei. Although the handling fee did not return to the level of last year, it also returned to a range that people can afford. This is a great benefit for the ecology of Ethereum. However, at this time, some people chose to wait and see. I am afraid that what they bought now is still not the bottom. This may be caused by the FOMO sentiment in the currency circle, but it also shows us that only long-term holding can outperform short-lived trend.
Returning to the cryptocurrency itself, some mainstream cryptocurrencies such as Bitcoin and Ethereum have begun to be accepted by more entities, and new companies continue to accept cryptocurrencies as payment methods every day. The NBA has become one of the best. The direction of combination is blossoming, which greatly improves the credibility of cryptocurrency and user demand. Although Bitcoin's market share has dropped this month, I don't think it's a bad thing. Because the value of Bitcoin is more stable in the market, its concept of storing value similar to gold is becoming more and more popular.
In April, we can find that the popularity of the NFT market is still rising, and more and more fields are gradually considering more possibilities in combination with NFT, especially traditional IP. Everyone is gradually realizing that NFT is not just a Token issuance and card sales are so simple, the most important thing is to combine the IP on the chain and off the chain, the value anchoring of assets and the value migration on the chain, this is the problem it wants to solve, not hype for hype , At present, card games are flooding, and NFT has not played new ideas, which is also one of the pain points that the current market needs to solve.
Looking at Polkadot, there are many IDOs this month, and many projects are chasing the hot spot of Polkadot. They have continuously issued tokens through IDOs to gain market recognition and fundraising. At the same time, the Kusama parachain slot test is also in progress. We We all know that the number of parallel chain slots is limited. With so many projects continuing to carry out IDO, can they survive in the end? Can the tokens we participate in private placement have value in the end? This is a question worth thinking about, and it is also the fundamental problem of the current proliferation of IDOs and digital currencies.
The market is moving forward, and the current wave is exactly the same as the Internet in the 1990s. Just like who would have known that today we can use a smartphone to meet many needs such as travel, shopping, and life? The same is true for the blockchain. There are bound to be victims in this wave, and there will be gradual survival of the fittest. For the public, what we need to do is how to identify valuable and applied projects for investment, so as to make The revenue continues to grow, and we can also appreciate what the real blockchain application looks like.
As we firmly believed when we created ULink, the future trend is that good money will drive out bad money, and we will continue to move forward on this road, keeping our original intention and moving forward.
