good morning. Here’s what’s happening:
price: Bitcoin is stuck at $29,000 and threatens $30,000. What does it take to exceed $30,000?
insight: Cryptocurrency has new radicals, but DeFi isn’t dead yet.
Bitbull Capital CEO Joe DiPasquale said in a memo: Another week in a row bodes well for the bulls.” There have been several developments in this area, from the hack of Curve to the altcoin mania of Base. However, the market did not react too harshly and ETH managed to hold on to $1800. “
Aside from the decentralized finance (DeFi) hoax that always pays off, the broader crypto market is expected to stagnate until the spot bitcoin exchange-traded fund (ETF) is approved.
While liquid and liquid bitcoin supply is at its lowest since 2018, illiquid supply is at a record high, with long-term holders hoarding coins, Blockware said. Intelligence writes. Recent newsletter. On the other hand, there is significant positive momentum in the creation of new addresses, indicating a general increase in on-chain demand, similar to the trend observed in the breakout of the 2019 bear market.
in a recent noteK33 Research’s Vetl Runde called July’s volume “anemic,” but wrote that the market was on the brink of change.
The cryptocurrency market has experienced an unusual drought with trading volumes plummeting and BTC volatility near five-year lows, but low activity has led to ETF filings, ongoing legal issues, and structural issues. and other potential triggers, which could lead to sudden bursts of volatility, he wrote. Pressure builds, driving strategies such as passive high-volume exposure and gradual BTC accumulation.
“Crypto’s deep sleep tends to be followed by a heavy awakening. Market volatility pressures are nearing a peak and an eruption is imminent,” he said in a memo.
The only question is, Wen?
Cryptography and the real meaning of “radicalism”: In the last 4-5 years, Ethereum smart contracts have attracted economists interested in a balanced social structure, leading to the emergence of theories such as “radical markets” and “regenerative economics,” and “the “Blockchain Socialist” is a platform to discuss left-wing perspectives on American economic imperialism and privacy and challenge the largely liberal mainstream of cryptocurrencies, according to Joshua Davila (aka “ Blockchain Socialist”) claims in his new book.
DeFi is never dead: The DeFi era of summer 2020, characterized by excesses like yield farming, has evolved with the rise of decentralized platforms as leaders and the adoption of specialized expansion strategies, but the sector remains dominated by centralized power and Reflecting the ongoing experimental phase, it suffers from the challenges of programmers acting as funders. with the possibility of error.
9 Aug 09:30 (HKT/SGT) (01:30 UTC Aug 9): China’s y/y inflation rate
Aug 10 8:30pm HKT/SGT (Aug 9 12:30 UTC): U.S. Core Inflation y/y
Coinbase beat analyst expectations for the second quarter, reporting $708 million in revenue and an adjusted loss of $0.42.