It is difficult to grow strong safely without a big thunder

Content source: Weibo (Kuang Ren Daobi Dao)

Madman said

There is still no latest news about DCG's bomb, but Gemini CEO provided a clue, saying that creditors have commissioned financial advisors to encourage Genesis and DCG to negotiate to solve the liquidity problem. As long as Genesis can give DCG more time and allow DCG to find bridge funds to solve the current difficulties, this bomb may not explode. However, Genesis itself is currently facing huge pressure from creditors, and it is also a question how much time it can give DCG. In short, the longer it drags on, the greater the probability of bankruptcy and liquidation. The sword of Damers is always hanging over its head, and it is difficult for the crypto market to rise safely.

The chairman of the US Senate Banking Industry said that federal agencies may ban cryptocurrencies after the collapse of FTX, but said it would be very difficult because it would go overseas and become more uncontrollable. It is the same as saying nothing. If something that cannot be banned is forcibly banned, the final result will definitely be more loss than gain, and it will become out of control. The only way to deal with the irreversible trend is to embrace it. The domestic ban is a good example. On the surface, all kinds of encryption-related entities are overseas, but they actually serve domestic users, and have lost regulatory authority and become extremely passive. Therefore, the best way is still to embrace it through supervision so that the world can operate within a common and reasonable framework.

Nigeria will recognize Bitcoin as a legal investment asset through the Investment and Securities Act. Another country has completed its embrace of Bitcoin and paved the way for institutional investors to invest.

Binance said that none of the four major accounting firms, including Deloitte, KPMG, PwC, and EY, are willing to conduct reserve audits for private crypto companies. This is normal because such reserve audits are meaningless. Audits cannot tell whether the tokens held by the exchange have been pledged and lent out off-chain. They can only see the "appearance" on the chain, and it is still a matter of minutes to embezzle them.

Kraken's new CEO predicts several major crypto trends in 2023, including ticketing systems and game-based NFTs, cross-border payments on the Bitcoin Lightning Network, decentralized storage, decentralized social media, and crypto custody services. Ticketing and game NFTs are the general trend. In the future, World Cup tickets or concert tickets can be realized through NFTs. Equipment in blockchain games can also be NFTs, which makes it easier to realize the value transfer on the chain. Decentralized storage relies on the rise of NFTs. He mainly mentioned FIL. In addition, cross-border payments are not to be mentioned. Everyone understands their importance. Decentralized social media solves the problem of freedom of speech, and crypto custody solves the problem of secure storage of cryptocurrency. What he said are all pain points. You can pay more attention to new related tokens in the future.

Coinbase's revenue fell 75% in the fourth quarter, and its revenue in 2022 will be less than half of that in 2021. This exchange is getting smaller and smaller, so it's no wonder that its stock price has fallen 10 times. The basis for future warming must be a stronger crypto market, otherwise Coinbase will slowly shake at its ankle.

VanEck predicts that Bitcoin's coldest winter will be in the first quarter of next year, and the logic is that the wave of miner bankruptcies will fuel the decline. This view is completely disagreed by the madman. According to the latest data, in 2022, Bitcoin miners sent a total of 57,000 Bitcoins to exchanges, accounting for less than 0.5% of the total circulation, and the impact on the market is very small. Therefore, it is not scientific to use this to explain the decline in the first quarter of next year, especially since Bitcoin computing power has begun to pick up and some mines have returned to the profit range.

Ranking of public chain daily active users: BNB ranks first with 1.1 million, Polygon ranks second with 390,000, and ETH ranks third with 340,000. The ones behind are much worse, so there is basically no need to look at them. Therefore, it is not difficult to see that the top three public chains have huge potential, and the track is gradually being determined, which is worth investing in.

Panic 29, eased somewhat.

Bitcoin: Whale addresses with more than 1,000 BTC sold a total of 280,000 BTC in the past 30 days. The number of addresses with 0.1 BTC hit a new record high. Smart money is still flowing out, which is not good for the short-term and medium-term trend. This is the key to the market weakness and the main source of selling pressure, not miners. At present, the DCG mine has not exploded, and the risk has not been eliminated. The probability of going up directly is not high, and it is expected to continue to consolidate at the bottom.

Ethereum: The number of addresses with more than 1,000 coins reached 6,596, a 21-month high. Compared with Bitcoin, Ethereum is obviously more favored by big funds and is expected to continue to outperform Bitcoin in the future, driving the market to strengthen.

There is not much to add. The market continues to be sluggish, and there is nothing much to look forward to when the U.S. stock market opens in the evening. After all, the Federal Reserve’s December interest rate meeting did not provide the market with short-term expectations of rising prices.