Blockchain Market Analysis on Dec 16, 2020

3 min readDec 16, 2020

【Summary of yesterday 】

Looking at the total TVL of DeFi, it is currently hovering around $14.9 billion. This position has been hovering for a while, and short-term funds have stagnated, which can also be reflected in the entire DeFi market. In the gold market, except for new native dogs or local hot projects, it is difficult to form a full-blown situation. So under such an environment, if there is no good target, we advise you to miss it instead of chasing high, because you will wait for a good opportunity if you keep the bullet.

Bitcoin is about to release DeFi products. Sovryn is a DeFi product based on the rsk sidechain. It is a two-in-one decentralized exchange and derivatives market, which mainly provides on-chain transactions and lending for bitcoin, usdt and rsk. Of course, it can also go long or short bitcoin with 5 times leverage. Those who are interested can experience it.

Marlin announced the launch of the FlowMint program on December 15th. Users with atom, dot, iris, matic, near, and bnb can participate in the Marlin network and obtain their token MPOND. The specific tutorial is available on the official Medium, you can mine referring to the tutorial.

US President Trump is considering pardoning Ross UIbricht, founder of the Silk Road. This message is left for you to discuss. What do you think?

【Blockchain market analysis】

The 4-hour level is still not effectively standing at 19500, so it is still in the range of 19500, 19600 to 18600. There has been no strong breakthrough since the V-shaped structure on November 30, which can be enough to show that the upward momentum has weakened or the stagflation has appeared. Therefore, this position will continue to adjust. The upper resistance is 19500 and 19600, and the lower support is 18500. The upward breakthrough is estimated to be very soon. At present, we should focus on the upper and lower edges of this interval, because once it effectively stands firmly or effectively falls below, it will affect the subsequent market trend.

Reminder: Pay attention to the stop-loss, and reduce the probability of margin call; risk prevention is priority, then focus on yield.

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