Market optimism shows, ETH2.0 drives prices up 20%?

QKL123 market shows that yesterday, ETH has continued to rise rapidly, rushing from about 148 US dollars to 176.30 US dollars, an increase of up to 24.71%.

ETH gradually got rid of the downturn and led the digital currency market. The current provisional report is $ 171.69, and the 24-hour turnover is $ 9.741 billion. Today ’s net capital inflow is $ 86.1052 million. In the past week, the net capital inflow was $ 857 million.

The fluctuation of ETH is accompanied by changes in the contract and DeFi market. In terms of contracts, the contract emperor's data shows (as shown in the figure below) that the contract delivery volume of the three major exchanges has slightly increased from the previous few days, and the amount of contract liquidation has also increased. The total amount of liquidation in 24 hours was 27.87 million US dollars.


In terms of DeFi , since the historical peak of $ 1.235 billion on February 15th, as the market continued to slump and the negative impact of bZx continued attacks, the total value of assets locked in the DeFi ecosystem continued to decline. However, the trend seems to have reversed recently. DeFi Pulse data shows that the total value of assets locked in the DeFi ecosystem has begun to gradually recover after reaching a stage low of $ 487 million on March 23. As of the time of publication, the total value was approximately US $ 742 million.


In technical analysis , OKEx Research principal investigator William said in an interview with Babbitt, "Since this year, the encrypted digital currency market has often experienced a major trend reversal in about a month. For this reason, we use 5 days The moving average and the 30-day moving average are used to analyze the market trend. As you can see from the chart below, MA (5) broke through MA (30) upward on April 5th, sending a signal of rising. Of course the MACD line is more sensitive The buy signal was sent out on March 22; the MACD line is still below the zero line, which indicates that the ETH market has not yet entered an overbought state, and there is still some room for increase in the future. "

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On the news , ETH2.0 has been the focus of attention in the market. Looking back at the past week, the important news related to ETH is also related to this.

On March 31, Ethereum co-founder Vitalik Buterin stated that the Ethereum 2.0 team may launch a multi-client testnet in April. In addition, the technology security company Least Authority completed the review of the ETH 2.0 specification. In response to the potential security issues raised in the audit report, Vitalik said that the ETH 2.0 team is working to resolve security vulnerabilities. On the same day, Ethereum 2.0 researcher Danny Ryan stated that the Phase 0 (Phase 0) code specification was updated to the latest version v0.11.1. On April 1, Vitalik Buterin proposed to improve the Ethereum privacy plan, using the Ethereum domain name system to achieve address hiding .

Whether it is technical or news, it is difficult to explain the root cause of ETH's lead. TokenInsight chief analyst Johnson believes, "Today ETH rises is a normal market reaction. Without specific events, the current extreme market for ETH options is also unlikely. The later market needs to be judged according to specific market conditions."

Since the advent of the Black Swan in March this year, the global financial market has been hit hard, the macroeconomic system has experienced a huge liquidity crisis, and the digital currency market has not been spared. Facing the severe epidemic situation and the plunge of the stock price and oil price, the market experienced extreme panic. Investors believed in cash as the king and began to replace the medium- and long-term and high-risk assets they held with short-term and low-risk assets. In this extreme market, digital currency, as a high-risk alternative asset, cannot give investors a sense of security. Naturally, it is not optimistic, and the price plummets immediately.

Although the number of confirmed cases worldwide is still increasing, the growth rate has slowed significantly. During the crisis, the Fed launched an unlimited easing program, which eased the pressure of the market to sell risky assets to obtain liquidity. In addition, the market predicts that Russia, the United States, and Saudi Arabia, the world ’s three largest oil producers, will reach production reduction agreements to mitigate the devastating impact of the epidemic on the oil industry. On Monday, European and American stock markets rose sharply, and the three major US stock indexes rebounded strongly, up 7%. Both the Dow and S & P hit a new high since March 13 and the Nasdaq closed at a new high since March 11.

William said, "Under the above-mentioned series of favorable stimuli, the liquidity crisis gradually resolved, and the market's pessimistic expectations gradually corrected . During the crisis, the prices of risk assets, including stocks and cryptocurrencies, all reached the bottom of the market, so the financial markets are welcoming In the coming strong rebound, we are not only seeing the prices of digital currencies such as Bitcoin and ETH soaring. The major stock markets and commodities markets in the world have all rebounded to a certain extent. "

As for the future market trend of ETH, QKL123 researcher Liu Qing believes, "After the rebound in mid-March, ETH and other smart contract platform projects tended to be weak. The current market is mainly to supplement the market, so the follow-up is mainly linked to Lord. This bitcoin's rise is mainly driven by the global capital market (the global epidemic slowdown is expected to strengthen), and the risk aversion of the crypto asset market has improved. "

In the end, he also pointed out, " The positive expectations of the subsequent superposition of Bitcoin halving in May are likely to continue to go through this wave of rising prices. However, whether this wave of rising can continue until the halving, investors need to pay attention to the recent The dynamic impact of global capital markets. "