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August 28 Market Daily Report
Core Turnover Dynamics
- Staking market sets a record: over 1 million coins (450 million USD) exited staking, with nearly 750,000 waiting to enter, both hitting all-time highs. The intense long and short battles among institutions have become the main reason for the recent high volatility.
- Turnover characteristics: A withdrawal of 1 million tokens will create continuous selling pressure, while the funds queued to enter (such as institutional investors like Ethereum MicroStrategy) are optimistic in the long term, with an average staking cost exceeding $4000.
Price and capital trends
- Price performance: After a drop to 4466 in the morning, it rebounded, reaching a high of 4632 in the afternoon, currently hovering around 4600. The daily bullish trend remains unchanged, and it is in a converging market.
- Capital diversion: ETH dropped by 13%, while SOL and BNB performed stronger (SOL reached $210), indicating initial signs of funds flowing from ETH to mainstream altcoins.
Operation Prompt
- Strategy suggestion: In the short term, maintain a range-bound trading approach, focusing on buying low while paying attention to support levels. It is not recommended to blindly chase highs.
- Investment Principle: Long-term holders can maintain their positions, choose targets based on their own understanding, and avoid blind operations due to anxiety from volatility.