1 Market Overview
This week's big news:
The U.S. Securities and Exchange Commission (SEC) has once again postponed the decision on a Bitcoin spot ETF.
BTC：
The monthly line closed with a small positive. After falling back to 26,000 this week, it started to rebound. In the future, it is more optimistic that the daily level of fluctuations will continue.
2 Currency Analysis
This week, we selected OGN, TRB, and LEVER as the research targets of popular currencies (with the largest increase during the week and listed on Binance), hoping to explore the logic behind the rise of strong currencies and better entry signals.
2.1 OGN
Introduction:
Origin Protocol is an Ethereum-based platform that consists of two parts: Origin DeFi and Origin Story.
Origin DeFi: Minting yield stablecoin OUSD and profit-based Ethereum derivative OETH. The ve model is adopted in governance, and the parameters of various aspects of the protocol are managed by OGV (protocol governance token) stakers.
Origin Story：NFT platform.
Official website: https://www.originprotocol.com/zh
Twitter: https://twitter.com/originprotocol
News:
Redeemed:
On August 16, Origin Story launched a redeemable NFT platform
On September 6, OETH was launched on PendleFi
On September 27, Origin and Frax launched a joint incentive pool on Curve
On September 29, a new OETH strategy was implemented on Balancer
Not fulfilled:
On November 3, OGN staking season 4 will begin. The lockup phase starts on October 4 and ends on November 3. You need to stake your OGN before then. (Good news is coming soon, beware of risks)
Funding:
1. The abnormal movement on the chain is delayed, which is manifested as withdrawal after the pull-up. On September 8, it rose sharply, and withdrawals were enabled on September 8. On September 29, it rose sharply, and withdrawals were enabled on September 30.
2. There was a significant increase in contract positions in the early stage of this rally, exceeding 25% in one hour, and continued increases were accompanied by continued increases in positions. In the early stage, retail investors were also long, and the funding rate continued to be positive.
3. The highest OI data was 60.44M at 20:00 on September 30, accounting for 75% of the circulating market value.
summary:
Tokens: The price increases are mainly based on rapid increases in a single day.
News: There were more operations in August and September, which promoted the project construction. The main positive expectation is staking, but the lock-up will start on October 4, which is approaching, so pay attention to the risks.
On-chain: Withdrawal is not obvious. However, the increase in the contract is obvious. During the sideways movement, the contract is still increasing, and the funding rate is also positive, indicating that the market has not ended and there is an opportunity to enter the market.
2.2 TRB
Introduction:
Tellor is an immutable decentralized oracle protocol that incentivizes an open, permissionless network for data reporting and data verification, ensuring data can be provided by anyone and checked by everyone.
Official website: https://tellor.io/
Twitter: https://twitter.com/WeAreTellor
News:
No projects have been advanced recently.
Funding:
1. The abnormal movement on the chain is delayed, which is manifested as withdrawals after the pull-up. The pull-up started on August 25, and the withdrawal abnormality began on the 26th. It was adjusted back on September 16, but the withdrawal was made again on September 17 and then reached a new high. It was pulled up again on September 26, and there was no abnormal movement. Beware of risks. At the same time, the whales on the chain already hold more than 16% of the tokens and are all in a profitable state. You can pay attention to whether there is recharge behavior on the chain.
2. Focusing on the rise this week, the funding rate returned to around -0.12, the long-short ratio was less than 1, and positions had risen rapidly, but did not reach a new high compared to the end of August.
3. In terms of OI data, before the increase, the market value was 138M, and the market value was 58M, which was 2.37 times the market value; after the increase, the market value was 377.4M, and the market value was 87M, which was 4.33 times the market value.
summary:
Token: It has been rising for 1 month, with an increase of more than 500%, and the strong trend is sustainable
News: No good news to pull the market, a game of capital
On-chain: Continuous withdrawals after the increase; contract positions have been higher than the circulating market value since September 8. The funding rate will return to the 0 axis before each increase.
2.3 LEVER
Introduction:
LeverFI is an on-chain leveraged trading platform.
Borrowing
Leveraged Trading
Official website: https://app.leverfi.io/
Twitter: https://twitter.com/LeverFi
News:
Redeemed:
On August 16, it was announced that LeverFi is working with Microsoft to develop the AI DeFi solution Morpheus
August 18, Announcement
On August 23, it was announced that LEVER will be listed on the Korean trading market Bithumb on August 25.
On September 9, it was announced that the LEVER governance pledge plan will be launched in September
September 26, announced that it received $2 million investment from DWF
Not fulfilled:
New token economic model, staking model, new DEFI protocol/new route
Funding:
1. There was outflow every day before the rise on September 28. The outflow of tokens increased due to the rise, indicating that the market trend will continue.
2. What is special is that the funding rate has been positive during the upward trend, and the sentiment has not reached its peak. The positions are increasing, but the rate of increase is slowing down.
3. According to OI data, the highest was 46.63M at 6:30 on October 1, and the circulating market value accounted for 64.7%
summary:
Token: After a strong sideways trend, it continues to rise
News: This week, stimulated by DWF investment, a new round of pull-up began. There are still unfulfilled expectations in the future.
Funds: The withdrawal of funds is very obvious and has been in a state of outflow. The performance of the funding rate is quite special. Although it has risen a lot, it has always been positive, and it may not have reached the level of FOMO.
3 Conclusion
LEVER is expected to continue to rise; TRB needs to pay attention to the movements of whales. If a large amount of it is transferred to the exchange, be alert to the risks. OGN is trading sideways, and there are signs that you can enter the market.