A. Market Perspective

1. Macro Liquidity

The deterioration of currency liquidity. The US dollar index is approaching a new high record for the year, which has put significant pressure on risk assets. The current strength of the US dollar is not only due to the stickiness of inflation in the United States itself and the corresponding delay in interest rate cuts, but also reflects a reassessment of geopolitical risks in the market. In this election year, the impressive rise of the US stock market is evident. The cryptocurrency market appears more fragile compared to the US stock market.

2. Full Market Quotes

Top 100 market capitalization gainers:

BTC fell below the weekly line this week, with more selling pressure from exchanges such as the United States, Germany, and Mentougou. The ETH/BTC exchange rate is strengthening, and altcoins rebounded first. The market rebounded around the ETH system.

1. BLAST: BLUR, an NFT platform, has developed ETH L2, and the recent airdrop has not been listed on top exchanges. BLAST is the pioneer of this round of airdrop, operated by Paradigm Fund. The L2 narrative is gradually being abandoned by the market.

2. KAS: It is a POW public chain, the first meme project of KRC-20. The mainnet will be launched at the end of June. Recently, large miners in the United States have started mining KAS.

3. LISTA: It is a decentralized algorithm on the Bsc chain, with almost no VC involvement, and BN fully controls the market trend. Recently, new mining activities have been launched.

3. BTC market

1）on-chain data

The market has entered a stage of exhaustion. Since June, the price of BTC has fallen below the average holding cost for three months. If this trapped structure continues, it will historically deteriorate investor confidence and may deepen this adjustment, requiring more time to recover. In previous bull markets, similar major adjustments like this have occurred an average of five times.

Stable Coin market capitalization supply is slowing down, and the market lacks new capital.

Institutional funds have been net outflows for 2 consecutive weeks, but there has been an increase in the inflow of alts.

The long-term trend indicator MVRV-ZScore is based on the total market cost and reflects the overall profitability of the market. When the indicator is greater than 6, it is in the top range; when the indicator is less than 2, it is in the bottom range. When MVRV falls below the critical level of 1, holders are generally in a loss state. The current indicator is 1.8, entering the intermediate stage.

2. Futures Market

Futures funding rate: The rate has slightly decreased this week. The rate is 0.05-0.1%, indicating a higher long leverage, which is a short-term market top; the rate is -0.1-0%, indicating a higher short leverage, which is a short-term market bottom.

Futures open interest: BTC open interest continued to decline this week.

Futures long-short ratio: 2.4, retail investors' bottom-fishing sentiment is high, the market probably has not yet bottomed out. Retail investors' sentiment is mostly a reverse indicator, with panic below 0.7 and greed above 2.0. The fluctuation of the long-short ratio data weakens its reference significance.

3. Spot Market Quote

BTC broke the weekly support line and has been trading sideways since hitting a historical high of $73,000 in March. The overall trading volume on the centralized exchange CEX has dropped to the level of the end of 23, but on-chain DEX remains stable. The ETH/BTC exchange rate continues to be strong, and the future main opportunities will focus on the ETH series.

B. Market Data

1. Total Locked Amount on Public Chain

2. Proportion of TVL on each public chain

This week's TVL is $95.3 billion, a decrease of $5.6 billion, a decrease of 5.6%. The TVL of mainstream public chains this week has almost all declined. ETH chain decreased by 8%, TRON chain decreased by 6%, BSC chain decreased by 5%, ARB chain decreased by 9%, BASE chain decreased by 4%, BLAST chain plummeted by 27%, POLYGON chain decreased by 5%, OP chain decreased by 8%. In addition, except for the TON chain, the TVL of mainstream public chains this month has declined by nearly or more than 10%.

3. Lock-up Amount of Each Chain Protocol

1. ETH lock-up situation

2. BSC lockup amount situation

3. Polygon锁仓量情况

4. Arbitrum lock-up situation

5. Lock-up situation of Optimism

6. Base Lock-up Volume

7. Solana Lock-up Volume

Four, NFT market data changes

1. NFT-500 Index

2）NFT market situation

3. NFT trading market share

4. NFT Buyer Analysis

This week, the floor prices of blue-chip NFT projects have dropped significantly, and the overall market is still in a continuous decline. CryptoPunks fell by 13% this week, BAYC fell by 17%, Pudgy Penguins fell by 28%, Space Doodles fell by 35%, Azuki fell by 23%, The Captainz fell by 16%, MAYC fell by 22%, and LilPudgys fell by 29%. Apart from that, only Milady has risen by 4%. The overall trading volume in the NFT market this week has slightly decreased, and the trading volume of blue-chip items has also declined by about 20% in the past week. The number of first-time buyers and repeat buyers is gradually decreasing. Overall, the NFT market is still very bleak, and the market environment is extremely unfavorable.