Breaking news! The Federal Reserve will release the minutes of the January interest rate meeting at 3 a.m. Beijing time on Thursday (February 20)!
Wall Street is divided and the suspense of the Federal Reserve's interest rate cut has escalated! Investors will then look for clues about future monetary policy trends!
If it is good! There will be a big wave of market pull-ups!
At 21:30 Beijing time on February 20, the initial jobless claims data for the week ending February 15 will also be released in the United States! It may cause market fluctuations at that time, so please pay attention to risk control in advance!
《Data Exposure Truth: Under the Rise of L2, Is ETH Overvalued or Not? The Bull Market's Increase Remains a Mystery!》
In the previous two bull markets, ETH increased by several times, but this bull market has only increased by 3 times, far less than BTC. Besides the rise of SOL, the development of L2 has impacted ETH's market value.
Compared to the peak of the last bull market, key indicators for ETH have declined. The current TVL is 64 billion, about 60% of the previous round; weekly protocol revenue is 30 million, far lower than the last round's 500 million; daily active addresses are 500,000, only one-third of the last round. However, its market value has recovered to 70% of the last peak, indicating potential overvaluation.
L2 has siphoned off 15% of ETH's TVL and 80% of active addresses, reducing protocol revenue by 90%, and also spawned tokens like ARB and OP with a market value of tens of billions, drawing away funds.
Although L2 has reduced GAS fees and stimulated trading, the ETH market value model relies on GAS fee burning to deflate ETH to offset POS staking inflation. If BASE issues tokens or UNI launches L2 UNICHAIN, ETH protocol revenue will further decrease, and market value may be further suppressed.
The concept of L2 is good, but various projects issue tokens to raise money, draining ETH. In the future bull market, ETH will rise, but the increase will be far less than the last round, and it can no longer be simply compared to trading technology in its trajectory; it is now strong on the outside but weak on the inside. $ETH
Another large piece of meat! #FIL short-term buy order entered on the 12th, surged to 3.628 at 3 PM on the 15th, completed TP5, perfect profit! Enjoy it happily! $FIL
🐋💸 Bitcoin's dominance recovers to 57% as BTC approaches $104,000
$BTC has recovered and surpassed USD 100,000 for the first time in history.
A measure of how much of the total cryptocurrency market value belongs to BTC surged when the asset reached a historic six-figure high on December 5, and most altcoins failed to match its gains.
☝️ "Bitcoin is the best-performing asset of the last 12 years, and it is still in its early days."
🔮 Social sentiment has also increased: Google Trends reported that December 5 saw the largest spike in Bitcoin searches in the last week.
We are in a historic year 2024; too many important things have happened in the blockchain world! Remember this year and month in your 📅 calendars.
Last night, a direct appointment by Trump forced Bitcoin, which was already expected to fall, to break through the 100,000 mark 📉📉 However, as I have mentioned, price surges driven by news are often unsustainable. After a significant rise due to news, a violent drop is inevitable; this is basic trading knowledge. When Bitcoin broke 100,000 yesterday, many asked me to provide long positions, but I said I wouldn’t give long positions tonight. We must wait until Bitcoin stabilizes at 10 before considering any long positions tonight. Now you understand my deeper meaning, right? The more the market experiences FOMO, the more we should be cautious ☝️ $BTC
CZ retweeted: BNB's annual increase is as high as 231%, surpassing BTC and ETH Binance CEO CZ retweeted a tweet from Studio Capital partner Dave Craige on the X platform. Dave Craige pointed out in the tweet that a fact that has been overlooked in the cryptocurrency field recently is that Binance Coin (BNB) has outperformed Bitcoin (BTC) and Ethereum (ETH) in the past year. Specifically, BNB has risen by as much as 231% in the past year, while Bitcoin has risen by 139% and Ethereum has risen by 68% in the same period. This data shows that BNB's performance in the cryptocurrency market is particularly outstanding, not only surpassing the two major mainstream digital currencies BTC and ETH, but also showing its strong growth momentum. This CZ's retweet has undoubtedly further attracted the market's attention to BNB, and has also triggered extensive discussions among investors on the future trend of BNB. I also sent a red envelope to congratulate, comment BNB first to receive a BNB lucky red envelope! $BNB #红包