Bitcoin's market capitalization has fallen to 10th place among global assets
Although Bitcoin's decline isn't too big, many small coins have lost too much blood. The market is almost bleak, and there is no cheap money effect. It is expected that this trend will continue. It is expected that this trend will continue. Flatcakes will still outperform most small coins in the short term. If you think coin-based, it is recommended that everyone mainly hold flatcakes. As Andre Cronje (AC), the founder of projects such as YFI and FTM, announced his withdrawal from the coin industry, tokens related to the AC concept plummeted like water, and panic filled the entire market. Among them, the most noteworthy tokens were: FTM, YFI, KP3R, ANY, BOO, CREAM, SOLID. Subsequently, these projects were also frantically explained on social media and the community, indicating that AC had handed over all the code and would continue to maintain various projects.
After AC left his project, these projects had no soul, so this decapitation recommended not to pick up the knife. The inertial decline still existed, just like a Michelin restaurant. If his chef left, it would be difficult to maintain even the best environment and service. Wang Dong, founder of the well-known domestic project Luyin, also said this morning that he is no longer involved in daily work and that the project will be handed over to the new CE. Responsible. In addition, countless projects are announced to run off and close every day. All of these signs indicate that it is already difficult for coin exchange projects to make money, and the energy they consume may not be directly proportional to income. In short, judging from the original historical experience, almost all of the projects handed over by the core developers or founding team did not perform as well as expected in the next few years, so when it comes to this matter, it's fine for everyone to do a probabilistic incident. The bosses are all gone. What are we still struggling with?
Under pressure from US politics, Coinbase finally surrendered. It announced that it had blocked 25,000 addresses associated with Russian individuals or entities that they believed were engaged in illegal activities, and that sanctions were initiated against the sanctioned countries. This war between Russia and Ukraine has shown us the real face of Westerners. It is said that some domestic tycoons have already begun to transfer overseas assets back home, because our country's recovery of TW is also inevitable. Whether Europe and the US will impose another round of sanctions and seize all of China's overseas Fijian assets is difficult for anyone to say. In short, when the whole world sees that centralized assets are not safe enough, I believe this is the real starting point for Bitcoin. I have to say that our perception may be a bit ahead of schedule, but this does not affect the rise of Bitcoin.
Furthermore, after this sanctions incident, the number of investors and the number of depositing coins on exchanges continued to decline. Everyone understood that the essence of true security is to store tokens in their own decentralized wallets, so this will benefit those wallet tokens to a certain extent.
Bitcoin's market capitalization has fallen to 10th place in the world. When did Bitcoin (gold and Apple come in front of it), which was in third place, and now it has once again become an asset that even Tesla's market capitalization cannot match. This is not an opportunity; what else in this world is an opportunity?
According to the data, investors who bought Bitcoin at a high point in November 2021 have basically capitulated. This supply was absorbed by other more believing investors at 29,000 to 40,000. This is a good replacement act, and it is also the foundation for Bitcoin's steady rise.
Panic 23, extreme panic.
Coin news:
Bitcoin: An address that has been dormant for 9 years was first activated. The wallet has 407 bitcoins. Fortunately, it doesn't have much impact. The probability that US stocks will continue to plummet in the evening is not high, so there is some room for a rebound, and 40,000 has become a strong pressure level recently.
Ethereum: The fourth largest whale transferred 11,000 ETH to the exchange. Recently, there has been a lot of on-chain activity of whales selling ETH. Currently, we haven't clearly understood the logic, but judging from market evidence, it should continue to link with Bitcoin and be weaker than Bitcoin.
FTM: The CEO said AC handed over all the code to the team, and the developers will continue to do their best to develop the project later. The foundation said that AC is not a core developer, and there are still more than 40 people working on the team. Despite this, the FTM ecosystem has been rapidly withdrawn by the Olympians, gas fees have risen sharply, and the entire ecosystem has plummeted. However, Ethereum's top 1000 whale addresses still increased their positions in FTM and YFI in the midst of a sharp decline, indicating that there are still opportunities for growth in the future. However, the lunatic still suggests making probabilistic deals without illusions.
The current market trading volume shows that everyone is lying flat. Unless you think this position will drop to 20,000, there is no point in selling coins.
