The media really works for the bookmakers. They don’t publish any news about Cancun. Devnet 9 releases so little news that you wouldn’t know it unless you search it yourself. This is the final test before going to the public test network. This is also an important step in the Cancun upgrade.

If you wait until mid-November when the public testnets are all online to see the hype, there won’t be much soup to drink.

If you wait until the mainnet goes online, then you may have to take over the market.

$ARB $OP $ETH

Loss and profit are both information fed back by the system

Trading must establish a reasonable and correct system. After the system is generated, it will bloom when the market blooms and bear fruit when it blooms. Everything is determined by the market. Profit cannot be equated with correctness, and loss and error cannot be confused together, because profit is the reward of risk, and loss is the reminder of risk. As long as your system is reasonable, it will give you profit within the trend, and at the turning point , bear the loss. Transactions without losses and costs simply do not exist. This is the fundamental reason for controlling positions.

FTX submitted a preliminary restructuring plan, including classifying non-customer claims as secondary, zeroing claims for FTT holders, and restarting offshore exchanges to compensate for customer shortfalls.

FTX will submit a revised plan and disclosure statement in the fourth quarter of 2023 based on creditor feedback to reach a consensus to get out of bankruptcy.

FTX has classified creditors and asked seven categories of creditors to vote in favor of the reorganization plan, while certain claims were canceled.

The priority of creditors will be determined according to the waterfall priority method, and after the claims of the previous class of creditors are satisfied, they will be repaid proportionally from the remaining claim pool.

FTX plans to let creditors give up cash payments and choose to pool assets to create offshore exchanges. The plan is still in its infancy and is subject to change and will be revised based on feedback from consulting parties and other stakeholders, with a revised restructuring plan due in the fourth quarter of 2023.

$BTC Bitcoin just ended a long period of negative year-over-year returns Bitcoin just ended a long period of negative year-over-year returns

If the year-on-year return rate of Bitcoin is negative, it is judged as a#bearmarket, and if the year-on-year return rate is positive, it is a#bullmarket. That was on June 12th when Bitcoin exited its longest bear market ever.

Bitcoin’s year-over-year returns have been negative for 490 consecutive days, a new record, with returns as low as -83.6% over the same period. The previous record was 353 days between November 2014 and October 2015. The bear market entered last year in early February, when Bitcoin was trading at $44,000, about 35% below its November 2021 high of $69,000.

Bitcoin has been in a bull run for the past 24 days. Year-on-year returns during the same period have exceeded 61%.

But this does not mean that the market is safe and sound. This is just a method of judging bull and bear markets, and history does not represent the past. It is possible for the year-on-year return rate to turn negative again and enter a bear market again.

#什么是RWA We often feel that DeFi has no connection to the “real world” and relies on speculation. "Real World Assets", that is, RWA, is a part of cryptocurrency that aims to use blockchain to connect off-chain assets and combine "real" assets with DeFi, NFT, etc.

Crypto-native assets can exist outside of government control, but RWAs are different. For RWA to become commonplace, cryptography must interact with local legal and regulatory systems. Scaling risk-weighted assets requires commercial activity, which means the assets require standard contractual protections and legal guarantees to allow businesses to trade in the real world.

RWA requires concessions from both sides, with regulators and businesses having to push for easing policy. Builders in the crypto industry need to capture opportunities for real-world asset projects. Judging from recent regulatory trends, regulation has the intention to promote this aspect.

#RWA As a blockchain technology, the combination with real assets has certain advantages and potential. The digital approach of RWA blockchain is more transparent and decentralized, which can improve the fairness and security of securitization and enjoy more liquidity. RWA can also be applied in the securitization process of various real assets, such as real estate, art, financial products, etc.

RWA can be divided into the following subcategories: digital goods, digital rights, digitally mapped large physical assets, and digital financial credit.

But using RWA still needs to solve a series of problems. For example, ensuring compliance, including compliance with regulatory regulations and KYC requirements; an asset price evaluation mechanism needs to be established to ensure the pricing accuracy and credibility of digital assets; and regulatory issues also need to be resolved. As these issues are resolved, RWA is expected to further promote the development and innovation of the securitization market.

This article predicts that the price of $RDNT at the end of the year is optimistically expected to reach 0.67. The general situation is 0.45, and the difference is 0.22.

RDNT is a very special existence, a master of narrative, with so many stories.

Cross-chain lending, L2, LayerZero, ve (3,3), real income, it is estimated that it will not be a big problem to catch up with LSDfi in the future.

It can be found in so many concepts, and when the market is good, it can really arouse the bullish sentiment. However, when the market goes bad, you need to pay attention to the issue of token release. At present, its liquidity is mainly driven by rewards. In the future, more chains must be deployed to truly stimulate the demand for cross-chain lending, and only by turning the flywheel can the price achieve solid growth.

If you want to know more, read the article. As for predicting prices, just read it.

Detailed explanation of Radiant Capital: Fragmented liquidity integration of cross-chain lending

https://www.panewslab.com/zh/articledetails/16u01e6n8o4q.html

Despite the price increase for $BTC , its Google search volume remains at cycle lows. To put it bluntly, sentiment is still at a low level at #熊市 . Not long ago, we could see a lot of discussions about whether the blockchain has a future and whether cryptocurrencies are necessary. The problem of digging out the value of an industry from its roots is often mentioned as a reflection of everyone's lack of confidence. If it weren't for the large number of ETF applications and the emergence of the EDX exchange, I'm afraid everyone would be even more bearish about the future.

The low search volume also shows that there are very few new leeks. They are all playing with their stocks, and it will be no problem if they rise. After all, there are more than 100 billion stablecoins in stock, and if you get a little more emotional, you can pull them up. But it may not be sustainable enough, and it may not be able to fly very high or go very far.

But the low position is not without its advantages, and the price is also low. When the search volume increases, the layout will be on the same starting line as New Leek.

The U.S. labor market and economy are still very good, and inflation has dropped well, reaching 4%. No signs of recession have been found, giving the Federal Reserve the courage to raise interest rates.

Powell expressed the possibility of consecutive interest rate hikes in July and September to curb inflation and reach the 2% inflation target. At present, the CPI has dropped well, especially due to the sudden drop in energy prices, but if liquidity is released, inflation will inevitably take off again. Moreover, core inflation is still very stubborn. The only way to bring it down completely is to raise interest rates, or to maintain high interest rates.

Prior to this, the Fed had raised interest rates 10 times in a row. But Powell and most policymakers say more tightening will eventually be needed to keep inflation under control. The latest dot plot of interest rate paths shows that Fed officials expect to raise interest rates twice more this year, by 25 basis points each time.

However, U.S. stocks performed quite well in the first half of this year. The crypto market and U.S. stocks performed at different paces but also performed well.

It is difficult to predict the market situation in the second half of the year. Now $BTC is here, and other currencies have not improved. It seems that an interest rate cut is far away, and liquidity has not been alleviated. It is difficult to say how long it can continue to be bullish.

Fortunately, there is a relatively certain opportunity in the second half of the year, and that is Ethereum’s #坎昆升级 . At the 112th Ethereum Core Developer Consensus Meeting, Ethereum developers discussed the Cancun upgrade.

Parithosh Jayanthi, a member of the DevOps team at the Ethereum Foundation, said that all EL (Ethereum 2.0 client) and CL (Ethereum classic client) teams have passed the relevant Hive tests for Devnet #7. The team plans to launch Devnet#7between June 30th or July 3rd. Devnet#7is a short-lived test network dedicated to testing EIP-4844.

As an important part of the Cancun upgrade, EIP-4844’s testing progress has taken another step forward. Cancun upgrade plans are mainly focused on L2 projects $ARB $OP

The beta of the crypto industry is very large, but how to maintain beta profits through a bear market is difficult, which requires strong investment capabilities and forward-looking judgments on market trends. More than 90% of incompetent people have been eliminated in the bear market, and more than 90% of unreliable projects have also been abandoned by the market. After the big waves wash away the sand, what remains is the essence of this industry.

The market is getting better and more efficient. With the recognition of digital currency and blockchain technology, a large number of professional investment institutions and capable industry builders have continuously entered the digital currency industry in the past few years.

But the process will be painful. 2018 is just the beginning of the bear market, and the most painful stages are actually 2019 and 2020. Similarly, 2022 is the beginning of the bear market, and 2023 and next year may be the most difficult.

hold onto!

Didn't pow dislike polluting the environment before? Now it's like Xiang Beibei. The reasons are all decided by the village. $BTC $BCH $LTC

SEC rejects spot Bitcoin ETF?

As soon as the news came out, $BTC , which had already exceeded $31,000, fell immediately, falling more than 4% and falling below $30,000. Altcoins are bleeding like rivers.

The news is this, the SEC said that the recent application for #现货比特币ETF was insufficient. #SEC Notified Nasdaq and sCboe that the Bitcoin ETF application documents submitted by asset management companies such as BlackRock and Fidelity Investments are not clear and comprehensive enough. The SEC has returned the documents, and Cboe plans to update and refile them.

I think the market has overreacted and the incomplete documentation is just a technical issue, not a rejection of ETFs. BlackRock/Fidelity can reapply simply by updating the documents.

But I can feel how sensitive the market is to the news of Bitcoin spot ETF. A specious news can make the market panic. When it is really rejected, it will be really miserable. Fortunately, the results will not be released so early, allowing the market to rise first.

The Nasdaq is on pace for its best first-half performance ever, with $BTC also up 80% this year.

However, the correlation between Bitcoin and U.S. stocks is declining. Although both stocks and Bitcoin are rising, the upward moves are different. In recent months, while U.S. stocks have been rising, crypto has been falling. In the past few days, while crypto has been rising, U.S. stocks have been correcting.

This year's gains have defied bearish warnings from various analysts. In the fourth quarter of last year, analysts were unanimously not optimistic about the future of encryption due to factors such as high interest rates, inflation, economic recession, and liquidity.

Reality has proven that predictions were pale.

After the market rose, various explanations emerged: economic flexibility, falling inflation, and increased liquidity. Everyone was looking for some reasonable explanation for the continued rising market prices.

It's not that these forces haven't helped the market rise.

But price comes first and explanation comes second. This is always the case. There will also be reasonable explanations when prices fall.

In the past few years, $ETH has been one step at a time. In 2020, the beacon chain will be launched and the POS mechanism will be launched. London will upgrade in 2021, introduce EIP1559, add handling fee destruction, change the token economy, and increase empowerment. The merger in 2022 officially moved towards POS, changing token economics again and reducing inflation. The merger has been running for nearly a year now, and Ethereum has achieved deflation.

This year’s Shanghai upgrade unlocked the pledge and withdrawal function of Ethereum, which improved the POS mechanism and stimulated the #LSD sector.

After the Merge merger, Ethereum has also entered a period of technological acceleration. It is expected to have two steps a year this year. The next Ethereum will be #坎昆升级 , which is expected to be in the fourth quarter of this year. The most important thing is to introduce EIP4844, add new transaction types, store data at a cheaper cost in a called Blob, and greatly reduce the cost of Layer 2. Achieving capacity expansion on L2 also pave the way for major sharding upgrades.

#azuki It’s already 2023, #NFT If this shell is still used to build a carnival gambling game, how can everyone expect the future of NFT? It's time to walk back and leave this shell behind. What we did was not very cool, we just used blockchain technology to store a picture.

This is so well said.

NFT is really like the ICO of 2017. A bunch of project parties came out and raised a lot of Ethereum. They became rich, leaving investors in a mess in the wind, and the project parties no longer care about it. The difference is that originally Ether was exchanged for Token, but now it is exchanged for a bunch of pictures.

Many people say that NFT is finished? Actually no. NFT should not be just a bunch of pictures. Now when NFT is mentioned, it refers to avatar NFT and picture NFT by default. This is just one way to use NFT. It is actually a very subdivided type of NFT. It does not represent everything about NFT. The current NFT is only used for hype and as avatars.

The road has gone astray, it’s time to look back and think about it

The altcoin sector has been changing in the past two days. $COMP $AAVE $UNI etc. The token prices of DeFi 1.0 protocols are rising rapidly. COMP surged nearly 40% but has since fallen back about 13%, as has AAVE. Today, Arb and Blur, two new coins produced this year, have also seen some improvement. Although it is not as fierce as DeFi 1.0, it is still stronger than its previous performance.

No one seems to really know what’s behind the rise, but a pick-up is good for the cryptocurrency industry.

More bullishness on DeFi 1.0 protocols may be a sign of traditional investors entering the space, evaluating protocols based on fundamentals rather than hype and Ponzi economics. Once the basic investment approach becomes more widely adopted, it will incentivize more protocols to start focusing on tangible value creation.

Of course, maybe I am just over-analyzing this. Maybe this is a one-time trend and there will be no follow-up at all. But I prefer to believe in good results.

HSBC became the first bank in Hong Kong to provide ETF trading facilities. This development is expected to expand opportunities for Hong Kong residents to use cryptocurrencies.

Currently, investors in the Hong Kong market have the opportunity to explore cryptocurrency ETFs such as the CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF. HSBC’s recent announcement is a significant move. This is because it is the first bank in Hong Kong to provide ETF trading facilities. This development is expected to broaden Hong Kong residents’ access to information and facilitate ETF trading in Hong Kong. This development is expected to broaden Hong Kong residents’ access to information on ETF trading. This development is expected to broaden Hong Kong residents' access to information to currency.

Recently, the attitude of the East and the West towards #比特币ETF is quite supportive, and the prospect of $BTC is still quite good.

$BTC has been trading almost independently recently, rushing up crazily on its own. But $ETH and its younger brothers both feel like taking two steps forward and taking one and a half steps back. Coupled with the fact that altcoins have been falling for more than two months, Bitcoin has surged so fast, and many altcoins have only climbed ten or twenty points from the low point in November last year.

On the one hand, it’s because liquidity is really tight, and if this goes up, others won’t be able to go up. On the other hand, there is indeed a lack of confidence in encryption. The attractiveness of altcoins is very poor, and we cannot see such a bright future. On the contrary, under the suppression of supervision, Bitcoin is unlikely to be recognized as a security. Spot ETFs are constantly being applied for. Bitcoin The story of coins is the best told.

So we saw that Bitcoin’s market capitalization ratio continued to increase and reached the highest point of the bear market.

I believe that Big Pie will not watch his little brothers fall, and will drink the soup. We must also believe that investors will not be willing to just hold on to the big pie without squandering it.

$BTC and $ETH both experienced gains, with the former surpassing the $31,000 mark it has not held since April.

The market's uptrend comes after spot #比特币ETF continues to apply as well as Powell saying cryptocurrencies appear to have staying power as an asset class and that payments stablecoins are a form of currency.

About 50% of Bitcoin transactions on CEX are buy orders, with a total amount of about $33 billion. It is clear that Bitcoin is the one that the market prefers, while the remaining crypto assets are not that attractive. ETH cannot keep up with Bitcoin, let alone a number of altcoins. Except for a few dying assets that have been sought after by funds and have risen sharply after being launched on the EDX exchange, the altcoins as a whole are very weak.

It is better to remain patient. The structural characteristics of the market will not be maintained forever. The rise of Bitcoin is good for the entire industry. It is a kind of confidence that will be passed on sooner or later.