#内容挖矿

Pulling down ALT is undoubtedly the most stupid move, after all, #BTC and #ETH are both in a downward trend.

In fact, in the field of cryptocurrency, leverage is everywhere, some on the chain, and some on the exchange. Many ALT holders are keen to pledge their chips and then exchange them for more mainstream assets such as BTC and ETH. However, this kind of pledge has a liquidation weight, and the representative $CRV liquidation last week is such a case. A large amount of CRV was pledged on the chain and exchanged for $ETH. This situation is reasonable, but there are still many investors who use the borrowed ETH to pledge and borrow again, which forms spot leverage.

In the former case, only fluctuations in the CRV price will trigger the liquidation of CRV; but in the latter case, as long as the price of ETH falls, the liquidation of ETH will lead to a chain of liquidations of CRV, and this is exactly the situation we are facing now. Of course, the price drop made it difficult for many investors to hold on and left the market, which is also one of the reasons. This also confirms the saying: when the decline occurs, no token sold is innocent.

However, compared with the current predicament of ALT, BTC and ETH are still relatively strong. Although there are declines, their declines are only about 2%. This has a lot to do with the fact that earlier investors have not left the market on a large scale. It can be clearly seen from the data that many friends are worried about whether the dog dealer is smashing the market, but in fact, the selling in the last 24 hours is more from investors who lost money. If they are dog dealers, such dog dealers may as well come more.

#BTC #ETH