In the past day, the encryption market news was relatively dense: Fed interest rate swaps showed that the probability of the Fed raising interest rates by 25 basis points in March was stable at about 80%; the annual rate of CPI in the United States was 6% in February without seasonal adjustment, expected 6.00%, and the previous value was 6.40%. The U.S. CPI, which was not seasonally adjusted in February, has fallen for the eighth consecutive month and is the lowest since September 2021; the U.S. may pass stablecoin legislation within a few days; A cross-border transaction within a bank; Bitcoin short positions of over US$100 million were liquidated yesterday, a two-month high. According to the currency win market, in the past day, mainstream bitcoins such as bitcoin rushed up and fell back, and once stood at the $26,000 mark in the short term.
1. An overview of the broader market—Bitcoin and other mainstreams have risen and fallen in the past day, and the short-term intraday volatility has increased
Market Quotes
According to the currency win market, the mainstream such as Bitcoin has risen and fallen in the past day, breaking through the $26,000 mark at one point. March 2023 has already begun, and the overall market volatility has intensified. The 24-hour increase of BTC is +1.64%, and the 24-hour increase of ETH is +1.73%.
data observation
According to Coinmarketcap data, BTC currently accounts for 43.7% of the market value, and the market value of BTC has increased slightly. According to alternative.me data, today’s panic and greed index is 50, and the market panic has turned neutral. According to Coin data, as of 11 o’clock today, the current funding rate of BTC is +0.010%, and the market contract bulls are slightly stronger. The current off-market price of usdt is 7.00, with a premium rate of 1.71%, and the willingness to enter funds on the market has slightly decreased.
macro news
Fed interest rate swaps show that the probability of the Fed raising interest rates by 25 basis points in March is stable at about 80%;
The annual rate of CPI in the United States in February was not adjusted seasonally at 6%, expected to be 6.00%, and the previous value was 6.40%. The U.S. CPI, which was not seasonally adjusted in February, has fallen for the eighth consecutive month, the lowest since September 2021;
The U.S. could pass stablecoin legislation within days;
National Australia Bank says it has completed the first intra-bank cross-border transaction using its own stablecoin via Ethereum;
Over $100 million in bitcoin short positions were liquidated yesterday, the highest in two months.
2. Sector changes – the LAUNCHPAD and ROLLUPS sectors performed strongly in the past day. Last week, the net outflow of Crypto asset investment products was 254.5 million US dollars, setting a record high in the net outflow of a single week
In the encryption market, the top five sectors with the largest increase are: LAUNCHPAD (13.6%), ROLLUPS (9.4%), PRIVACY (8.2%), BTC ecology (8.1%), HUOBI CAPITAL (8.0%)
Institutional Investment Sector
In the A16Z Portfolio section, the top three currencies with 24 small gains: YGG, LOKA, ROSE;
The top three in the 24-hour increase in the Coinbase Ventures Portfolio sector: HFT, UDT, AXL
In the DCG Portfolio section, the top three currencies with 24-hour gains are: HFT, XDG, MANA;
In the Pantera Capital Portfolio section, the top three currencies with 24-hour gains are: BLT, MIR, ROSE;
In the Animoca Brands sector, the top three currencies with 24-hour gains are: TLM, GAFI, YGG;
Plate news
According to the CoinShares report, the net outflow of Crypto asset investment products last week was 254.5 million US dollars, setting a record high in the net outflow of a single week;
According to L2BEAT data, the current total lock-up volume of Ethereum Layer 2 has fallen to 6.17 billion US dollars, a decrease of 0.31% on the 7th;
Online fraud losses reported to the FBI in 2022 topped $10 billion, the highest annual loss figure in the past five years, according to the FBI’s annual Internet crime report.
3. Changes in major currencies – CFX and RPL surged along with the trend. OP Labs released a roadmap for Optimism technology decentralization. The roadmap includes two parts: Baseline Decentralization and Cannon fault proofs
Among the top 100 currencies in the encryption market, the top five currencies are: AGIX (34.4%), CFX (30.0%), IMX (26.8%), STX (25.9%), T (18.1%)
Currency Changes in Popular Tracks
The top three on the DeFi track: CFX, STX, DODO;
The top three NFT track ranking increases: CFX, STX, IMX;
The top five currencies with the highest daily popularity are: SHIB, USDC, BTC, ETH, AGIX
big currency
OP Labs released the Optimism technology decentralization roadmap, which includes two parts: Baseline Decentralization and Cannon fault proofs;
The L2 expansion program Immutable X tweeted that the largest token utility upgrade in history is coming soon;
The current destruction volume of the Ethereum network has exceeded 3 million ETH.
4. Changes in contract data – BTC long positions dominate, short-term short positions decrease
According to Coin data, as of 12:00, the long and short position of BTC on Bitmex was 1.114 billion, a slight increase compared to the previous day. Judging from the ratio of long and short positions, the ratio of long positions in Bitcoin has increased. On the whole, the long position in the BTC contract market is dominant, the ratio of the number of longs and shorts in Binance is 1.03, and the short-term short position of Bitcoin has been greatly reduced.
5. Big V’s opinion——Coinbase CEO: Cooperating with the US CFTC to launch a derivatives platform as soon as possible
Coinbase CEO Brian Armstrong said in a recent Bankless podcast interview that Coinbase’s staking program is not a security, so it will defend the staking mechanism and defend its rights in court. In addition, Brian Armstrong also revealed that Coinbase is considering several derivatives. The exchange has been cooperating with the U.S. Commodity Futures Trading Commission (CFTC) to promote its derivatives platform to go online as soon as possible. a big event.
Cathie Wood, CEO of Ark Invest, stated on social platforms that when the US banking system was paralyzed due to bank runs threatening regional banks, Bitcoin, Ethereum and other crypto networks continued to operate unaffected. Instability in the banking system threatens stablecoins, the entry point for DeFi, in stark contrast to regulators’ rhetoric. Instead of blocking decentralized, transparent, auditable, well-functioning financial platforms with no central point of failure, regulators should focus on the centralized, opaque points of failure that are emerging in the traditional banking system. They should have been fully aware of the obvious crisis: asset and liability maturity mismatches, short-term interest rates soaring 19-fold in less than a year, and deposits in the banking system falling year-on-year for the first time since the 1920s.