Cryptocurrency news:
1. Coinbase International has launched ATOM, DYDX and OM perpetual contracts
Coinbase International and Coinbase Advanced have launched ATOM-PERP, DYDX-PERP and OM-PERP perpetual contracts, and the relevant markets have entered full trading mode.
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2. Analysis: Ethereum inflation in the past 4 and a half months is 228,000, about 602 million US dollars
According to Ember’s monitoring, Ethereum has recently shown an inflationary trend. Data shows that in the past four and a half months, the total amount of ETH has increased by 228,000, worth about $602 million, with an average daily increase of 1,652.
Since the beginning of April, due to the decrease in on-chain activity, ETH Gas fees have been maintained below 2 Gwei for a long time, resulting in the output of tokens exceeding the amount of destruction. The total amount of ETH has increased from 120,063,605 to 120,291,622. If this trend continues, the annual inflation is expected to reach 600,000, which is about 1.59 billion US dollars at the current price, and the inflation rate is 0.5%. Nevertheless, compared with other assets, the inflation rate of 0.5% is still at a low level.
3. Today's Fear and Greed Index is 39, and the level is Fear
Today's Fear and Greed Index is 39, and the level is fear. Note: The threshold of the Fear Index is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).
4. BlackRock’s on-chain asset value exceeds Grayscale, becoming the world’s largest digital asset management company
According to Arkham Intelligence data, as of August 21, BlackRock's on-chain asset value officially surpassed Grayscale, becoming the world's largest digital asset management company. By the second quarter of 2024, BlackRock's AUM will rise from US$9.43 trillion in 2023 to an all-time high of US$10.65 trillion.
In the digital asset sector, BlackRock holds $21.527 billion in on-chain assets as of August 21, 2024. In comparison, Grayscale's on-chain assets are worth $21.457 billion, $70 million less than BlackRock.
5. The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 64%.
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 64%, and the probability of cutting interest rates by 50 basis points is 36%. The probability of the Fed cutting interest rates by 50 basis points by November is 31.8%, the probability of cutting interest rates by 75 basis points is 50.1%, and the probability of cutting interest rates by 100 basis points is 18.1%.
Bitcoin market analysis:
Yesterday we analyzed that if BTC breaks through and stabilizes at $60,000, bulls will have another chance.
Last night, the opportunity appeared when BTC broke through 60,000 and reached a high of 61,800. However, the breakthrough time was in the early morning, which was not very friendly to us. I believe that many partners did not seize the opportunity.
Then the next opportunity for short-term layout will be after the breakthrough of 61700, and the arc bottom structure will be constructed in 4 hours. As long as the upward channel is not broken, there will be a chance to continue to pull up.
However, the upward layout can only be treated as a short-term strategy. Before the 63.3k resistance exchange line is broken, the risk of falling still needs to be prevented. Therefore, when going long, pay attention to profit-taking. If the wind direction is not right, run away immediately. Break through 63.3k and layout the trend.
