Bitcoin's massive price rally today is similar to 2017, but there is a very different mechanism behind it.
Chart Source: CryptoQuant
Since Bitcoin from this world, until now , only the trend of Bitcoin ownership, passwords, currency exchange increasesyeotdamyeon, BTC 2020 purchases for inflation hedge + long-term investment ① institutional investors and on such ② raepteu Bitcoin (WBTC) This is because of the number bitcoin on exchanges has completely dried up due to the locking of bitcoins on the chain .
Bitcoin or Ethernet Solarium are both the biggest selling force that is mined. Now you because the miners have so far started dumping orders on the market at the same time for the purpose of revenue realization and exploitation of investment period income, but can not avoid the sharp decline this year, the number is more workable The amount purchased by the institution is much larger , and there is no sign of exit to the exchange, even the amount tied to the on-chain (private wallets) of various public chains including Ethereum and Binance Smart Chain.
A situation where the amount to be sold on the exchange dries up is called a Sell-side Liquidity Crunch. In the case of Bitcoin, the number of holdings on the exchange has dropped 30% compared to February 2020, and it looks like Ethereum is the next turn.
Ether Leeum is a provider of Solarium Defy fair liquidity protocol pool for, and Deepa wallet users to use it , Solarium 2.0 Ethernet key-in appears in all these securities combined Stock exchange fell by 20% compared to May this year and Like Bitcoin, sell-side liquidity crisis deeper.
Ethereum price movements play a role in accelerating the token price of the DeFi project. So, if Ethereum's price goes up sharply, maybe a change of project will next make a name for the Ethereum DeFi ecosystem, so those who are looking at the charts are simply because the current portfolio doesn't contain enough Ethereum. We advise you not to take a look and take a look at some of the DeFi projects that have received attention this year.