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Why is the performance of platform currency so sluggish this year?



Yesterday, most currencies fell into a downturn, with Bitcoin and most mainstream currencies leading the decline. At this time, OKB, which was not seen by everyone in the past, bucked the trend and soared by more than 6%.

After the market opened this morning, OKB continued to rise. At this time, another platform currency, HT, unexpectedly rose by more than 7% within an hour. Looking at this posture, the rising wind in the currency circle may really blow to the platform currency. Chance?

Here is a small episode. One of the unsolved mysteries in the currency circle is why every time HT pulls Bitcoin, it smashes it. At present, this law is really effective. Could it be that Bitcoin fell in the early morning of this morning because of HT pull?

Having said that, the performance of platform coins this year has indeed been criticized. Most of the hot spots that broke out this year have nothing to do with platform coins. When Bitcoin and mainstream coins broke through the previous highs, their performance was very average, especially OKB and HT, the suffering brothers. .

AOFEX today repurchased and destroyed 771,400 platform tokens OT, worth about 10.8 million AQ: According to official news, AOFEX Exchange completed the second repurchase and destruction of platform tokens at 17:00 on August 31, with an amount of 771,428 OT, worth about 10.8 million AQ. Up to now, AOFEX has carried out four phases of online burning of new projects and two phases of platform repurchase burning. The total amount of burning is 1,728,786 OT, accounting for 8.64% of the total circulation of OT.

A network will continue to increase the circulation scenarios of the platform currency, create the value of the platform currency, and ensure that the market circulation does not exceed 20 million pieces.

AOFEX is a leading digital currency financial derivatives exchange, aiming to provide users with quality services and asset security. [2020/8/31]

In the trend after "312" this year, the performance is not as good as that of Bitcoin. The difference in growth rate may not be big, basically 2-3 times the increase, but Bitcoin and other currencies have increased 2-3 times. The concept is completely different. The market value and price of Bitcoin determine that it is the most difficult to rise in the entire currency market. Therefore, there is a saying that if you only buy Bitcoin in a bull market, your vision is basically unqualified. Of course, this is an exaggeration, mainly to show that in the bull market, the growth rate of other currencies is basically far higher than that of Bitcoin.

The 24-hour rise and fall data of the top three platform coins by market value: According to Jinse Finance data, the current mainstream platform coins are as follows:

The current price of BNB is $18.14, up 1.79% in 24 hours, and the 24h turnover is $126 million; the current price of OKB is $5.00, up 0.04% in 24 hours, and the 24h turnover is $53,056,600; the current price of HT is $4.21, up 0.54% in 24 hours, and the 24h turnover is $37,435,400 . [2020/7/13]

For reference, ETH has increased by more than 5 times since "312", and there are many other currencies that have entered the top ten. The increase is basically based on 10 times, and the market value of OKB and HT is actually not too large. OKB ranks 15th, HT ranks 19th, and the price is not too high, both around $5.

During this period of time that has passed this year, the revenue performance of OKEX and Huobi platforms is not bad. Of course, Binance is the best. The increase of BNB is also the highest, which is nearly 4 times. The rise of the currency is closely related to the performance of the platform.

Bitrue Exchange destroyed 100 million BTRs: According to official news, Bitrue Exchange will destroy 100 million BTRs (Bitrue Coins) held by the team on July 16, 2020. This means that 10% of platform tokens will be permanently removed from the total supply.

Bitrue said that this burning will help stabilize the long-term value of BTR on the one hand. On the other hand, this destruction is also a spur to the team.

Bitrue is a two-year-old financial exchange, focusing on providing overseas users with mainstream digital currency (such as BTC, USDT, XRP, BCH, etc.) asset value-added services. Bitrue also operates spot transactions, credit card purchases, and OTC deposit and withdrawal products comprehensive platform. The Bitrue exchange is currently ranked 27th in CMC, and Bitrue also ranks second in the global trading volume of XRP, accounting for 15% of the market share.

As part of the Bitrue platform ecosystem, BTR users can enjoy higher investment interest rates, lock-up investment quotas, and lower loan interest rates by holding BTR. At the same time, holding BTR can also enjoy discounts on transaction fees. As of Q1 of 2020, Bitrue has carried out a total of 3 repurchases and destructions, spending a total of 462,133 US dollars, and repurchased and destroyed a total of 15,444,879 BTRs. See the original link for details. [2020/7/9]

But in fact, during this period of time, the difficulties encountered by centralized exchanges may be more than we imagined. As we said earlier, most of the hot spots this year have no platform currency, and many of them have been allocated to the platform. The recovery period after "312" has been going on for a long time, and after the halving of Bitcoin, hot spots such as DeFi, Polkadot, and public chains have not greatly promoted the business of the platform itself, and DeFi has even attracted many Traffic that originally belonged to the centralized platform.

The 24-hour rise and fall data of the top three platform coins by market value: According to Jinse Finance data, the current mainstream platform coins are as follows:

The current price of BNB is $17.28, up 2.65% in 24 hours, with a turnover of $108 million in 24 hours; the current price of OKB is $5.11, up 2.55% in 24 hours, and a turnover of $76.4636 million in 24 hours; the current price of HT is $4.20, up 2.2% in 24 hours, with a turnover of $77.8849 million in 24 hours . [2020/7/9]

Only Binance performed well, especially in the performance of altcoins. According to Binance’s mid-year report, more than 60% of the business in the first half of the year came from altcoins, and the best-performing mainstream currency ETH is also Binance. The mainstream currency with the highest trading volume on the platform.

Even a first-tier exchange can hardly stop the development trend of the currency circle and the preferences of investors. Since the environment cannot be changed, it can only adapt to the environment in order to survive. So during this period of time, major exchanges have been deploying DeFi one after another, but it may be that the early stage of DeFi was too much, and investors temporarily diverted their attention, or perhaps the speed of the layout of the exchanges has not yet been popularized. In short, the major centralized exchanges It may take some time for DeFi to achieve better results.

The 4th round of Youbi Exchange’s second-phase platform currency YT subscription overraised by 705%: According to official news, Youbi Exchange will conduct YT subscription through IEO at 20:00 today (a total of 5 rounds), each round of 1 million YT, the first round of subscription The price is 0.15USDT, which is 360% overraised. The subscription price for the second round was 0.16 USDT, which was 510% over-raised. The subscription price for the third round was 0.17 USDT, which was 683% over-raised. The subscription price for the fourth round was 0.18 USDT, which was 705% over-raised. The fifth round of subscription will start at 20:00 on May 14, 2020.

YT is the only designated token of the Youbi Global ecology. The total amount of issuance is constant at 1 billion. The first issuance of the mother currency is 10 million pieces, and the remaining 990 million will be issued in five stages. By pledging the mining output in the decentralized Youbi wallet, 1 billion Issued in ten years. See the original link for details. [2020/5/13]

All in all, winning first in the currency circle is definitely not winning, and winning at the end is winning. Some exchanges may explode in short-term hotspots, get a batch of traffic, and can cut leeks and run away at any time. These exchanges just happened to meet this opportunity. If it takes a long time, the traffic that comes from luck will also rely on strength. Drain away.

However, the strategies of exchanges such as the three major domestic platforms are completely different. Their organizational structure and development plan determine that they cannot "flow in one wave". Therefore, in the long run, it is the kingly way to improve the platform itself. The configured currency.

Going back to BTC, although the price of Bitcoin has not been very good in the past two days, there is still potential good news. Currently, usdt is gradually recovering a positive premium, and it means that it is getting higher and higher, which shows that the market is buying usdt The intensity is getting stronger and stronger, which also shows that retail investors may be gradually entering the market. It seems that the decline of Bitcoin in recent days may have stimulated retail investors' desire to buy bottoms?

Looking at the current market, we can clearly find the difference between this callback and the previous two callbacks. The previous two callbacks basically fell back to the place within 1-2 days at one time, and then stepped back at most to confirm and immediately started to rise again, but This callback has been more than a week, and it has temporarily fallen below the 30-day moving average. On the disk, the risk is greater than the previous two days.

Zooming in to the weekly level, the performance is more obvious. Although the previous two callbacks were at the daily level, the weekly line still showed an upward trend, and this callback can clearly see that the weekly line rose and fell back last week. It continued to fall this week and is undergoing a weekly level callback.

But our original assumption is that if the first half of the week rises, the risk of falling back in the second half of the week will be greater, but this week has only passed two days, and it has gone through the process of rising and then falling, so there are still five trading days left. How to behave?

First of all, we can make inferences about the market, but the specific situation still depends on the actual situation. The current market is falling, so we will first see when it stops falling, and then consider the next step.

Secondly, as we said last week, if it is the first time to pull back at the weekly level, it is not too much to return to the 10-day moving average, but returning to the 10-day moving average does not necessarily mean that the market will directly hit the 10-day moving average. It is also possible that the market callback will be slower, and at the same time the 10-day moving average is also going up, and the two sides will meet at a middle position.

It is also possible that the market keeps oscillating within a range, and the moving average will also go up, but this time may be longer.

During the last callback to stagflation, the shock range exceeded 2,000 US dollars, and the duration was as long as two months. Although we are not sure yet, it is still necessary to make corresponding preparations.

It fell too much yesterday, and it is currently in the process of a shock rebound. In fact, the current trend is relatively common. The end point of the rebound is generally near the 30-day moving average and will encounter resistance. For the first time, it fell back before the 30th day. For the second time, the 30-day moving average fell back, and for the third time, the 30-day moving average fell after a break, and then the choice of direction began. This is the more common rhythm of oversold rebounds.

So we first pay attention to the pressure level near the 30-day moving average, which is roughly in the range of 11,400-11,450 US dollars. The lower support level first looks at yesterday's low, and then looks at 11,100 US dollars.

At present, there are indeed some small partners who are buying bottoms, but we mind that we should look at the market according to the current trend. Even if it is bullish for a long time, we should wait for the signal to appear before intervening. Although some profits may be lost, many potential risks can be avoided. risk.


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