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Opinion: On-chain transaction fees are in the "bear market" range, and once they pick up, it may be a sign of recovery



Time:8/8/2022 12:08:34 PM

[Opinion: On-chain transaction fees are in the "bear market" range, and once they rise, it may be a signal of recovery] According to news on August 8, an analyst at Glassnode, a cryptocurrency research institution, said that Bitcoin's active-ethexc addresses are completely in "a clearly defined downward channel." . They added that network activity "suggests that so far, the inflow of new demand remains modest." But at the same time, deal demand has trended sideways or down in recent weeks, suggesting that "only traders and investors are confident The higher ground remains." In addition, on-chain transaction fees are in a "bear market" range, and once they pick up, it may be a signal of recovery.

“Historically, a bear market into 2022 has been negative for the digital asset space,” the analysts wrote in a note, “however, after such a period of sustained risk aversion, attention has shifted to this Is it a bear market relief rally, or the start of a sustained bullish impulse.” (Bloomberg)

Other news:

Opinion: The Fed's liquidity cuts will have a big impact on risky assets: Jan 10 news, the first signs of trouble for those worried that a decade of ultra-loose monetary policy has created asset bubbles around the world May be breeding in a market with high prices. Bank of America strategists such as Michael Hartnett see bubbles popping simultaneously across assets including cryptocurrencies, palladium, long-duration tech stocks and other historically risky market sectors.

Jay Hatfield, portfolio manager at Infrastructure Capital Advisors, said the reduction in liquidity from the Fed will lead to higher equity risk premiums and higher interest rates, which will continue to have a disproportionate impact on the riskiest assets in the market, including loss-making technology stocks and online red stocks. , especially momentum-driven investing in cryptocurrencies with no intrinsic value. (Golden Ten) [2022/1/10 8:37:56]

Opinion: A new wave of mining farms may be coming: According to the 21st Century Business Herald, on May 21, the Financial Stability and Development Committee of the State Council held its 51st meeting. Coin mining and trading behaviors, and resolutely prevent individual risks from being passed on to the social field. A senior person in the currency circle told the 21st Century Business Herald reporter that interpreting the statement put forward by the Financial Committee meeting, there is a high probability that the company-operated Bitcoin mine will be banned, but it should not be stopped directly. The specific operation should be given to There is a certain time limit for the mine to be cleared. The person further stated that the specific detailed rules and documents issued in the future may lead to the Bitcoin mining industry collectively going overseas, and the operating entities will move, resulting in a bonus for North American mines. It is learned from interviews with reporters that many top mines have stepped up their overseas mine layout in recent years, with Central Asia and North America as the main layout directions. However, due to the impact of the epidemic, the speed of deployment is limited, but the introduction of policies may accelerate its overseas deployment. [2021/5/22 22:31:47]

Opinion: The market expects BTC prices to continue to rise: Beincrypto issued a document stating that according to data from the blockchain analysis company Glassnode, the average financing rate of Bitcoin perpetual swaps on major cryptocurrency exchanges is still 0.05%. The fact that the new swaps did not significantly increase funding rates says two things. First things first: investors and traders are buying BTC on the spot market, not using leverage. Additionally, the average funding rate remains at a level slightly above zero, suggesting that traders on perpetual swaps are not yet ready to enter short positions despite Bitcoin’s all-time highs. In other words, they don't think prices will drop. These two observations taken together suggest that the market expects BTC prices to continue higher. [2021/2/21 17:35:31]

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