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August 13 Market Daily Report
1. Ethereum Performance
- The price has broken through 4700 US dollars, just 100 US dollars away from the historical high, with listed companies continuously increasing their purchases (such as BMNR planning to issue 20 billion US dollars to buy in).
- The financial situation and sentiment are good; this round of increase is backed by real capital entering the market. Unlike the leveraged speculation in 2021, there is significant room for growth.
- ETH/BTC has rebounded above 0.0387, with institutions optimistic. The inflow of funds into Ethereum ETFs far exceeds that of Bitcoin ETFs, and the growth rate of treasury funds is faster than that of Bitcoin, with a subsequent expectation to rise to high levels.
2. Trends in Altcoins
- The direction is closely related to the consortium, and after Ethereum rises, the consortium may turn to altcoins (such as DOGE, LTC, etc.).
- The market is no longer driven by emotional speculation; projects supported by consortiums and with expectations of ETF applications are more favored.
- The current market is rising with ETH, but most projects are not outperforming ETH, with only some altcoins with backing (such as LTC, DOGE, SOL, etc.) slightly following the trend; OKB's price surged 1.5 times due to the upgrade of its burn mechanism.
3. Future Outlook
- Ethereum may recently break new highs, testing 5000 USD, at which point altcoins will see signals for profit-taking (not that I'm pessimistic, but to protect profits).
- Ethereum fluctuates between 4800-5000 after a surge to 5000, waiting for chip collection before rising again.
- Altcoin Rise Rhythm: Large Market Cap → Medium Market Cap → Small Market Cap, which has developed according to this trend.