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Market Daily Report for August 13
1. Ethereum Performance
- The price has broken through $4700, just $100 away from the historical high, and listed companies continue to increase their purchases (such as BMNR planning to issue $20 billion for acquisition).
- The liquidity and sentiment are good. This round of increase involves real capital entering the market, which is different from the leveraged speculation in 2021, and there is significant room for growth.
- ETH/BTC has rebounded above 0.0387, with institutions being 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, which is expected to rebound to high levels subsequently.
2. Altcoin Trends
- The trend is closely related to consortiums, which may shift towards altcoins (such as DOGE, LTC, etc.) after Ethereum rises.
- The market is no longer driven by emotional speculation, and projects supported by consortiums and with expectations of ETF applications are more favored.
- The current market is rising along with ETH, but most projects are not outperforming ETH, with only a few well-backed altcoins (LTC, DOGE, SOL, etc.) experiencing slight increases; OKB's price surged 1.5 times due to the upgrade of its burning mechanism.
3. Future Prospects
- Ethereum may reach a new high soon, testing $5000, at which point altcoins will signal a reduction in positions (not because of pessimism, but to protect profits).
- Ethereum fluctuates between 4800-5000 after reaching 5000, waiting for chip accumulation before rising again.
- Altcoin rise rhythm: large market cap → medium market cap → small market cap, which has developed according to this trend.