[Key interpretation] The top ten whales in XRP have significantly reduced their positions, and BTC volume shrinks for the first time

Huobi2022-09-26 tarihinde yayınlandı2022-09-27 tarihinde güncellendi

Özet

BTC investors' money holding cost decreased, and the trading volume shrank for the first time.

1. BTC turnover shows signs of shrinking

In the process of narrowing the price fluctuation space of BTC, although the cumulative decline has not significantly expanded, the market is on the eve of the change. As the trading volume retreats from its highest level in two years, the short-term trading volume shrinks, which means that BTC will change its position during the downward movement of the closing price. From the closing point, BTC's closing price on each trading day has been declining in recent years, apparently effectively falling below the lowest closing price of 18970 US dollars on June 18. At the same time, the focus of BTC investors' currency holdings has obviously retreated, and the current volume and price do not support the rapid rise of BTC.

2. The number of ETH sending addresses rebounds

The number of active addresses of ETH has not changed much. During the period of small rebound, it is mainly due to the growth of the number of sending addresses. From the numerical point of view, the number of sending addresses rose to a short-term high of 321000 on September 24. Although the number rose, it was lower than 425000 on September 17. This shows that the number of ETH sent by investors is gradually decreasing. The gradual decline from 799000 on August 26 means that the market is in the period of adjustment.

3. The number of ETH receiving addresses is abnormally low

The number of receiving addresses of ETH is unusually low, which means that there is less adjustment to participate in the short-term transfer or transaction of ETH. Different from the number of sending addresses, the number of receiving addresses of ETH decreased, and fell back to the lowest of 131000 within one year on September 25, which means that OTC investors continue to reduce their market entry transactions, and the market adjustment expectation remains unchanged. Consistent with the trend of BTC, ETH's recent amplitude is small, but the closing price has been retreating, and the adjustment expectation remains unchanged.

4. XRP price short-term adjustment

In the 4-hour K line chart, during the short-term retreat of XRP price, the price rebounded obviously under the Bollinger line. In terms of trading volume, the trading volume remained stable during the short-term continuous decline, and the selling pressure was effectively released. At present, the short-term pullback is dominated by low suction. Judging from the recent price trend, the support of US $0.45 and US $0.4 during the release of selling pressure can be properly paid attention to. On the message side, XRP

The news shows that the lawsuit between the Swiss currency and the SEC will probably be decided in December. At the same time, the market expectation is generally optimistic about XRP's judgment in the near future, which makes XRP's price fluctuate strongly in the near future.

On September 18, Ripple's defense lawyer James K. Filan said on Twitter that Brad Garlinghouse, CEO of Ripple Labs, had filed a motion for summary judgment in advance.

The next day, Caroline D. Pham, a member of the Commodity Futures Trading Commission, talked with Brad Garlinghouse. It was previously reported that Ripple and the SEC had asked the court to resolve their ongoing legal disputes.

The encryption community is optimistic about the possibility of compromise because Ripple Labs claims that there is no investment contract. Therefore, the summary judgment motion is considered a prudent strategy that may lead to a settlement with the SEC.

5. XRP's main currency holding and distribution

In terms of coin holding, the number of coins held at Whale's address has continued a clear downward trend recently, while XRP prices rose and fell in the same period, indicating that the spread of coin holding does not support the price rise. The number of XRP's top 10, top 20 and top 50 coins held in Xihong Temple decreased from 73%, 75% and 78% on August 28 to 72%, 74% and 77%, and the currency holding divergence trend was clear. Therefore, in terms of trading, in addition to focusing on the overall market strength and XRP litigation results, attention should be paid to adjusting risks in recent low absorption buying.

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