CoinEx Daily: Strong performance from Bitcoin, Ethereum layer 2 recovery

Overview

Today’s cryptocurrency market is showing diverse dynamics, including Bitcoin’s strong performance, Ethereum layer 2  recovery, and updates on multiple projects and partnerships.

Daily Macro

Bitcoin Situation:  The price of Bitcoin once again exceeded US$61,000, and Mt. Gox completed a new round of creditor repayments, which enhanced market confidence..

ETF Situation:  Bitcoin ETF had a net inflow of 669.69 BTC yesterday, and Ethereum ETF had a net outflow of 6999.8 ETH yesterday.

Daily Focus

Ethereum Layer 2:

Reason for Focus: Ethereum Layer 2 at the head is constantly iterating and upgrading its technology.

Rise of tokens in related sectors: 

- $ARB: Up 4.4% in 24 hours,Arbitrum’s technology roadmap has been updated. Stylus will be launched soon and supports multiple WASM language development to provide developers with more convenience.

Market Outlook: The leading Ethereum Layer 2 is constantly iterating, and the Matthew Effect in the ecosystem will continue to increase.

AI:

Reason for Focus: Partnerships with industry leading project parties can accelerate project development and bring new vitality to AI projects.

Rise of tokens in related sectors: 

- $IO: Up 4.6% in 7 days,ChainbaseHQ and io.net have reached an in-depth strategic cooperation to accelerate Theia model training and jointly build an encrypted native AI ecosystem.

Market Outlook: The establishment of partnerships facilitates resource sharing and market expansion, and related AI tokens and projects are expected to benefit from these collaborations.

Next Focus

Ethereum Layer 2

Potential Reason: 

Ethereum Layer 2 Expected With Technical Updates and Partnerships Formed for Multiple Projects will become a hot spot in the market.

Related assets:

- $MATIC: Coinbase announced that it will support the conversion of MATIC tokens to POL, which may have a positive impact on the Polygon ecosystem.

- $METIS: Aave supports METIS tokens as collateral, which may increase the market demand and value of METIS.

How to participate:

Pay attention to the price trend of ETH and make corresponding investment decisions. Generally, the strength of ETH will have a certain driving effect on the entire Ethereum Layer 2 asset.