QKL123 market analysis | The number of coins destroyed in the day, the pot of the hearing? (0730)

Abstract: The USDT hearing was extended for 90 days yesterday. The news was neutral. However, the number of coins destroyed in the BTC chain yesterday was unexpected. The giant whales were extremely active. The supervision hearing will be held today. And know. Recently, the willingness of the BTC to attack is not strong. The possibility of continuing to explore the $9,000 is still there. Yesterday, the BTC's daily destructive number is a historical anomaly. Currently, this value has a greater correlation with the xapo.com related address. However, whether it will adversely affect the short-term and long-term trend and the impact geometry needs further confirmation.

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According to QKL123 statistics, on July 30, 2019, the total market value of the global Token market was 1,831.094 billion yuan, the total market value of 24 hours increased or decreased -1.67%, the total turnover of 24 hours was 308.617 billion yuan, and the total turnover of 24 hours changed – 8.08%, 24-hour market activity continues to decrease. The market value of BTC accounted for 63.98%, which was slightly lower than yesterday (64.20%), but the market risk aversion was still high.

At 1100, the top ten crypto assets in the market value (excluding USDT), BNB fell the most in 24 hours (-4.62%), XRP had the smallest drop in 24 hours (-1.00%); BTC rose by -1.78% in 24 hours, ETH 24 hours Ups and downs -3.28%. The USDT rose by +0.15% for 24 hours, and the 24-hour turnover rate was 1.86%. The 24-hour off-exchange capital inflows increased slightly.

At 12 o'clock, the Babbitt Composite Index 8BTCCI reported 13963.80 points, up 24 hours to -1.77%; alternative.me sentiment index was 22, slightly higher than yesterday (19), but the market performance is still extremely fearful. Today's Bitcoin's Google search trend is slightly lower than yesterday, lower than the average of the past seven days.

Analyst's point of view: The USDT hearing was extended for 90 days, and the USDT trust crisis has not been lifted. This is a bit of a torment for the market that is in a haze; the review of the digital currency and blockchain regulatory framework will be held today. The huge stones in the market are still pending, and yesterday’s daily destruction of the currency is related to the news. It is still unknown that attention should be paid to avoiding risks.

First, the spot BTC market

2 24H highest: ¥65829.12 24H minimum: ¥65307.12

At present, the willingness of the BTC multi-military to continue to attack is not strong. It is possible to continue to explore the $9,000 in the near future. However, the possibility of a turning point in the market still exists and the market uncertainty increases. In view of the number of coins destroyed, it is appropriate to avoid risks in the near future.

Fund face

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As of 14:17, BTC's net capital inflow today was 12,207,780 yuan. Among them, the large outflow (greater than or equal to 1 million yuan) net outflow is 73.568 million yuan, the large single (between 300,000 yuan and 1 million yuan) net inflow is 23,401,700 yuan, and the medium (between 50,000 and 300,000 yuan) net The inflow of 12,290,400 yuan, the small outflow (less than 50,000 yuan) net outflow of 16262.40 million. There are certain differences in the market, but the main ones are mainly built in large singles.

2. Fundamentals 4 Next block reward halved countdown estimate: 273 days

At present, the BTC's total network computing power is 70.38EH/s, which is higher than yesterday (69.38EH/s), close to the historical high point, and the long-term upward trend has not changed. Yesterday, the number of active addresses on the BTC chain was 570,200, a rebound from the previous day (505,100), lower than the average of six months.

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Yesterday, the number of BTC coins destroyed was 262 million (historical maximum). This is the first time since the mine disaster at the end of last year. This shows that the giant whales are extremely frequent, because this time the release is not in the market. Near the peak, so the possibility of concentrated whales selling pressure is reduced, but in recent days, we must guard against the risk of selling. In addition, whether the daily amount of currency destruction is affected by the recent hearings is still unknown. However, according to the data of bitinfocharts, the number of days of currency destruction is related to the address of the bitcoin storage service company xapo.com, and the risk should be appropriately avoided in the near future.

Second, the spot ETH market

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24H highest: ¥1451.69 24H minimum: ¥1433.57

ETH followed the BTC's small downward trend and continued to adjust for shocks for a short time. The ETH/BTC transaction is running around 0.022 BTC. After the BTC stabilizes, ETH is likely to be relatively strong.

Fund face

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As of 14:16, ETH's net outflow of funds today was 92.726 million yuan. Among them, the large outflow (greater than or equal to 1 million yuan) net outflow of 2,357.04 million yuan, the large single (between 300,000 yuan and 1 million yuan) net inflow of 29.741 million yuan, in the middle (between 50,000 and 300,000 yuan) net The inflow was 16.9452 million yuan, and the net outflow of small orders (below 50,000 yuan) was 117.843 million yuan. There are certain differences in the market, mainly based on small orders.

2. Fundamentals

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Observing the Midu statistics, the overall activity of the 24-hour ETH DApp increased slightly. Among them, the 24-hour total flow (3,253 ETH) of the pledge by DAI increased or decreased by +0.00% compared with yesterday, and the 24-hour total flow of the trading platform IDEX (2,153 ETH) increased or decreased by -1.15% compared with yesterday; the 24-hour active user of the game encryption hero The number (2,670) increased or decreased by +2.73% compared with yesterday; the number of 24-hour transactions (1,020) of the stable currency Paxos Standard increased or decreased by +1.39% compared with yesterday.

Third, the spot LTC market

9 24H highest: ¥635.45 24H minimum: ¥617.51

The LTC remained at around $90, and the short-term volume could shrink further, waiting for the BTC to move. The LTC/BTC trading fluctuated slightly around 0.0094 BTC, continuing the fishtail market.

Fund face

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As of 14:12, the net outflow of LTC funds today was 25.3711 million yuan. Among them, the large outflow (greater than or equal to 1 million yuan) net outflow of 1.568 million yuan, the large single (between 300,000 yuan and 1 million yuan) net inflow of 5,759,900 yuan, the middle of the single (between 50,000 and 300,000 yuan) net The inflow of 11.687 million yuan, the small single (less than 50,000 yuan) net outflow of 4,285.39 million yuan. There is a big divergence in the market, and it is still dominated by small orders.

2. Fundamentals

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Next block reward halved countdown estimate: 6 days

At present, LTC's total network computing power is 440.44 TH/s, which is lower than yesterday (501.59 TH/s), close to the historical high point, and the long-term upward trend has not changed. Yesterday, the number of active addresses on the LTC chain was 74,500, an increase from the previous day (66,300), but still below the two-month average. Yesterday, the number of LTC coins destroyed (1173.82, historically small), significantly increased from the previous day (588.72 million), there is no large whale concentrated selling action outside the field, the long-term uptrend has not been damaged, but because LTC linkage BTC Therefore, the number of days of the BTC's daily destruction of the currency may have a greater impact on its long-term trend. This type of risk is worthy of attention.

Fourth, the spot EOS market

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24H highest: ¥29.71 24H minimum: ¥29.14

EOS fluctuated slightly, continuing the fishtail market, and the main direction was BTC. At present, the EOS/BTC trading pair oscillated around 0.00043 and gained support for a short time.

Fund face

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As of 14:12, EOS's net capital inflow today was 5,683,700 yuan. Among them, the large outflow (greater than or equal to 1 million yuan) net outflow of 43.503 million yuan, the large single (between 300,000 yuan and 1 million yuan) net inflow of 112,304,400 yuan, in the middle (between 50,000 and 300,000 yuan) net Outflow of 2942.28, small single (less than 50,000 yuan) net inflow of 17.456 million yuan. The market has little difference, and most of them have large warehouses.

2. Fundamentals

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Looking at the Midu statistics, the overall activity of the 24-hour EOS DApp was slightly reduced. Among them, the number of 24-hour active users of entertainment games Texas Hold'em (1,271) increased or decreased by -0.55% compared with yesterday; the 24-hour total flow of trading platform DEXEOS (115,979 EOS) increased or decreased by -4.27% compared with yesterday.

V. Analyst strategy

1. Long line (1-3 years)

Although overall, BTC is in the short-term partial adjustment stage, the mad cow market may come in the next one to two years, but yesterday's daily volume of currency destruction may cause damage to the long-term trend. Recently, the rallies can be lightened to reduce the position to wait and see. . The smart contract platform ETH 2.0 project is in the process of advancement and is expected to step out of the independent market in the future. The BTC trading pair of the cottage coin LTC and DPoS leader EOS is also at a low level during the year, but at present, the BTC is linked to the market.

2. Midline (1-3 months)

The short-term shock adjustment of the situation may be undermined, and the recent rallies and lighten up, to wait and see.

3. Short-term (1-3 days)

Short-term BTC downside risks increase, can lighten up the bargain-hunting, to wait and see. The BTC resistance is $10,000 and the support is $9,000. The ETH, LTC and EOS amplitudes are relatively large, depending on the direction of the BTC.

15 Note: Encrypted assets are high-risk assets. This document is for decision-making purposes only and does not constitute investment advice.