The encryption market rebounded slightly as it continued to recover
With the arrival of the new year, the long silent encryption market rebounded slightly, showing signs of short-term recovery. According to the money winner market, Bitcoin continued to rebound slightly in the past day, but there is no trend direction, and the market outlook is expected to remain narrow.
Market recovery, rising currency prices and the recovery of mainstream Token also seem to drive the copycat sector. Data shows that on January 3, the total transaction volume of the encryption market was US $29.72 billion. 43.6% per day. Yesterday, the Bitcoin Volatility Index rose to 52. Compared with January 2, 2008 (50.14) rose 3.87% on a single day. The index fell to 49 on January 1, 2023. Since April 2019, 67 has hit a new low.
According to CoinmarkETCap data, BTC's market value now accounts for 40.1%, and its market share has declined slightly. The change of the sector is that MASTERNODES and APT have performed well in ecology in the past day. Web 3 raised more than 7.1 billion dollars in this field last year, accounting for more than half of the financing of game start-ups. In the encryption market, the top five sectors are: MASTERNODES (8.19%), APT Ecology (6.89%), TERRA (6.13%), STORAGE (5.90%), and YEARNPARTNERSHIPS (5.38%).
Bitcoin includes SRM. There are many fake Tokens in SOL that have risen sharply. These were all caused by the rise of the Serum (SRM) to US $0.17, with a 24-hour rise of 18.9%; Solana (SOL) rose for two consecutive days, breaking through $14 in the short term and rising nearly 25% in 24 hours. Yesterday, the Bitcoin Volatility Index rebounded to 52 08, a single day increase of 3.87%.
The BitVol (Bitcoin Volatility) index launched by the Bitcoin options trading platform Ledger X rose to 52 yesterday. Compared with January 2, 2008 (50.14) rose 3.87% in a single day. The index fell to 49 on January 1, 2023. Since April 2019, 67 has reached a new low. It is reported that BitVol measures the 30 day expected implied volatility of the index from the tradable bitcoin option price.
The change of large Bitcoin currencies is that LDO has increased a lot in the day. Among the top 100 currencies in the crypto market, OKB has reached a new high in the year. The top five currencies that have increased a lot are LDO (13.9%), SOL (11.5%), BIT (10.78%), LUNC (8.32%) and ZEC (6.81%).
Implied volatility refers to the implied volatility in the actual option price. This is to reverse the introduced volatility by substituting the actual option price and other parameters except volatility into the B-S option pricing formula. The real price of options is formed by the competition of many option traders. Therefore, the implied volatility represents the views and expectations of market participants on the future of the market, so it is considered to be the closest to the real volatility at that time.
Cameron Winklevoss, the co-founder of Gemini Cryptocurrency Exchange, published an open letter claiming that DCG owed Genesis about $1.68 billion. They were all caused by their founder Barry Silbert alone. Barry Silbert responded to social media, saying that DCG did not lend $1.675 billion from Genesis. The maturity date of the next loan was May 2023. DCG did not use the "malicious delaying tactics" to repay the money on December 29, Instead, a proposal has been submitted by a consultant from Genesis and Cameron Winklevoss, but has not been received so far. Any reply from Gemini.
Although the encryption market has shown signs of temporary recovery, the current market panic index is 29, which is still in a "panic" state. The aftereffect of the FTX incident is not over yet. The founder of FTX, SBF, told the FTX US District Court of the Federal Court of New York to set the trial date as October 2, 2023, and pleaded not guilty to the sudden collapse of eight criminal charges. DCG is still deeply involved in the debt crisis, and the issue of borrowing with Gemini has not been resolved.
There are still many uncertainties in the encryption market. In addition, the global economic level has not yet recovered, and it is difficult for the encryption community to regain confidence in a short time. Although the encryption market shows signs of short-term recovery, Bitcoin continues to rebound slightly in the short term, but there is no trend direction, and the market outlook is expected to remain narrow fluctuations.