Let's talk about the short-term market
From the overall environment, the current trend of the big cake is still weak, so we should not be too aggressive in our operations.
From the current technical perspective, there are signs of a stop in the decline. However, we still need to observe whether the big cake can stabilize around 28500. Yesterday, I thought it would go to the range of 28500~28000, but I didn’t expect it to stop falling at 28800, which shows that the current market bottom-fishing funds are still relatively sufficient.
The next important data is the CPI data on the 10th. This data will generally bring about a turning point in the market, either a stage high or a stage low. Therefore, at present, when the pattern is not clear enough, we should still operate conservatively and trade in waves! Reduce the overall holding cost of medium and long-term positions!
Although the current situation of the currency market is not good and the narrative has not changed, this does not mean that the prices of BTC and ETH will definitely collapse. There are two key points here. The first is the consensus of $26,000. Even before April, May and the first half of June, which were full of FUD and negative information, the price of BTC was relatively stable at $26,000, so the probability that this is a stable bottom support is very high.
If the price is to fall below and maintain a lower level, there needs to be a signal that the CFTC and SEC will strengthen supervision of the currency market. In other words, there must be a real large-scale explosion, not just FUD, before the price of BTC and ETH may fall below this support.
In general, whether it is BTC or ETH, although the purchasing power is getting further and further away from the glory, more holders are still starting to use the halving cycle as an investment goal, with less selling pressure and less price fluctuations. This also shows that the current low-distribution position building may be a good long-term investment plan.
Yesterday, several fans chatted with me for a long time. It was a good feeling. Everyone was discussing research projects together. It reminded me of the feeling of forgetting to eat and sleep when I first entered the cryptocurrency circle in order to study and understand the projects. Today, I will organize several currencies that you may be more concerned about.
1.SSV
Technology development is fundamental, except for the slower pace, everything is normal
DVT technology is not a false demand, but there will be more and more decentralized solutions for staking and competing with SSV
The mainnet is not optimistic about breaking the previous high after launch, but LSD is a large track and is optimistic in the long term. If SSV can maintain its leading position, the bull market will definitely reach 200+
2.Velodrome
Although it is the leader in the OP series, there are also some negative factors.
A small portion of the more than 14 million coins released each week will be locked together with Vevelo, and most of them will form selling pressure, which is not conducive to the rise of the coin price.
There may be some selling pressure in the short term after the Aero airdrop snapshot
In the long run, the current market value is still very low. The OP ecosystem is developing rapidly. Those who hold it for a long time can ignore these.
3.Sun
The project has no major investor endorsement and its financial strength is slightly weak
There will be many new lending projects in the OP and base ecosystems. Sonne will face challenges in maintaining its leading position.
4.LSDFi
Pendle's listing on Binance marks the end of this wave of LSDFi hype. It is best to wait and see or lightly invest in projects on the market, and focus on new projects with more solid fundamentals. This track has just begun, and there is a lot of room for follow-up, but who will become the final leader remains to be seen.
5. Cancun upgrades are on the way
However, this wave may only increase the high-quality projects in the OP ecosystem (including Base) by 3-5 times, not the general increase in L2 ecosystem projects.
Arb ecosystem is showing signs of fatigue, and the market has not enough funds to support the high valuation level
There are too many ecological problems in Zks, so there won’t be so many leeks who insist on giving money to Zks; by the time everyone reacts, the Cancun upgrade has come to an end.
6. Elon Musk
X is the future state of infinite interactions – centered around audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services and opportunities
He has always wanted to make Twitter as big as WeChat
It is said that the latest test version of Twitter has embedded X tokens. Musk is definitely going to make a big splash in web3. Perhaps in the future, this X token will have very eye-catching operations.
Today's sharing ends here. Thank you very much for taking the time to read this article in your busy schedule. I hope the article is helpful to you. You can follow me and leave me comments to communicate with me.