USDT is thundering, is DeFi spring coming soon?

Interpretation today

The blockchain secondary market was particularly tough in the past. As Tether was suspected of filling the Bitfinex funding gap with USDT, the trust crisis broke out again. BTC experienced a rapid and violently rebounding roller coaster story within a few hours. PAX, USDC and other head-stable certificates have taken the opportunity to increase the number of shares. The USDT off-market price has also dropped from 6.90 yuan to 6.77, and the stable pass market is competing. However, in addition to the stable certification battlefield issued by the centralization organization, the decentralized stability certification is also developing rapidly.

The well-known decentralized stable certification project MakerDao is the central bank of the blockchain. Everyone can generate a DAI pass by creating a mortgage debt bin on the MakerDAO platform and mortgageting certain digital assets (currently primarily ETH). Mortgage Debt is a smart contract that allows users to redeem DAI at a certain rate. The current $1.5 equivalent ETH can be exchanged for $1 DAI, and users can also purchase DAI passes directly on the exchange. It can be seen that DAI has a full amount of digital certificate assets on the chain as a guarantee, and maintains a 1:1 anchor with the US dollar, avoiding the risk that some centralized lending institutions may break out. DeFi (Decentralized Finance) has also become a hot topic in the 2019 blockchain.

The digital assets of the redemption mortgage are also very simple. After repaying the debt (the borrowed DAI) and a certain percentage of the stabilization fee (similar to interest), the collateral can be recovered through the smart contract, and the reimbursed DAI is destroyed. shut down.

Since 2019, MakerDAO's stable rate has reached "six consecutive gains", rising from around 0.5% to 14.5% now, and the Maker community will also vote to raise the stable rate to 16.5%. This is Maker's move to reduce the total supply of DAI and stabilize the price of DAI. It also reflects the current hot market situation.

With the development of the Internet, some financial technology companies have used the Internet to efficiently and conveniently dismantle traditional large-scale financial enterprises and systems that are not technologically advanced. The blockchain can further transform traditional financial products into one chain. Smart contracts meet people's security requirements and can further reduce the friction costs incurred in financial transactions. DeFi applications such as MakerDAO and Augur have opened the door to decentralized financial services for the blockchain. The decentralized exchange of Coin's has also been launched recently, and the blockchain will have more potential for people to explore.

Market research

Overall view

BTC experienced a short-term strike, rebound, and fallback of the roller coaster market, and continued to sideways consolidation. After this out, the price of BTC did not fall much, but the second and third line certificates in the market suffered serious blood loss and fell. A large number of investors choose to sell and exchange currency for safe haven. At present, USDT's off-exchange OTC exchange rate has dropped to 6.77 yuan, and the premium has basically disappeared. Be wary of emotional turning points in the market and short-term trends may change. If the BTC can stabilize above $5,200, then some small currencies may have an oversold rebound.

BTC fluctuated between $5,250 and $5,350 today, and the market may continue its slow upward crawling trend. However, it is worth noting that the BTC's 4-hour MACD has already had a clearer divergence, and it is more difficult to continue the attack in the short term. The BTC pressure is $5,400 and the support is $5,200.

The trend of ETH is weak. From a technical point of view, it has fallen below the more important support platform of 160 US dollars. The rising trend has been destroyed and it will take some time to adjust. The pressure is $160 and the support is $150.

EOS fell more violently, falling below the important support level of 5 US dollars, the rebound is not strong, short-term bearish. The pressure is $5 and the support is $4.35.

risk warning

The price of digital pass is fluctuating violently. Investment digital pass is a high-risk investment behavior. Investors should reasonably assess their investment ability and risk tolerance, use leverage carefully, strictly control risks, and invest carefully. Investors are advised to keep in mind that investments are risky and require caution when entering the market.

Disclaimer

Personal opinions are for reference only. The analysis in the text does not constitute a recommendation for trading, and the profit and loss is self-sufficient. Welcome to reprint, but need to indicate the source.

(Source: full currency)