比推独家 · 39

[Comparative Interview] Sun Yuchen: The ambassador is “one country's heavy equipment”. Future work may connect with Li Chenggang, the Chinese ambassador to the WTO. The encryption industry has matured to the point where it needs to interact with sovereign countries

The government of the eastern Caribbean island nation “Grenada” officially appointed Sun Yuchen as its permanent representative to the World Trade Organization (WTO) and an extraordinary and plenipotentiary ambassador, and authorized him to represent Grenada at WTO meetings during his term of office. Wang Feng, editor-in-chief of the Chinese website of the Financial Times, commented that this is an important collaboration between the crypto community and a country's government, opening up more opportunities. As a “star” in the blockchain industry, Sun Yuchen is well known for creating Wave Field TRON. According to its official data, Bochang has become one of the top three public chains in the world, with more than 67 million users. The Bochang Agreement processes more than 10 billion US dollars of transfer transactions per day, and the assets on the chain exceed 60 billion US dollars. Regarding the transformation of the new identity, Sun Yuchen issued an open letter stating that the Wave Field Foundation decided to be dissolved on July 25, 2021, that the three supernodes associated with it will be completely withdrawn this month, and that the Wave Field Agreement is now completely decentralized. We have an exclusive conversation with Sun Yuchen, founder of TRON, to unravel the story behind his withdrawal from TRON and becoming a WTO ambassador. The following is a text version of the interview: Comparative: Why did Grenada act as the WTO representative? What's the story behind it? Sun Yuchen: I am personally optimistic about the role that Caribbean countries will play in the future blockchain and digital currency economic development process. First, Caribbean countries are very close to the US; they are more aware of emerging technologies such as blockchain digital currencies. Second, their regulations are not as strict as the US. In fact, I've spent quite a bit of time in the Caribbean since last year. I've been to St. Kitts, Belize, Bahamas, Panama, Dominica, and Barbados before. I probably know more about the Caribbean than the average person. I've also met with local prime ministers, including the Prime Minister of Barbados, Panama, the Bahamas, and the prime ministers of Dominica, not to mention Grenada, so I actually know the entire Caribbean region quite well. I think they are also very passionate about the blockchain and digital currency economy. Grenada has always wanted to find someone with an international perspective who can contribute to Grenada in emerging industries such as the digital economy and blockchain. Then I chatted with the Prime Minister and Foreign Minister. They were all very satisfied with my resume and experience in this area. Comparative note: Then you have to join their nationality. Sun Yuchen: Yes, yes. I'm now a citizen of their country. Comparative: How do you view the shift from a crypto entrepreneur to a country's ambassador? Sun Yuchen: Everyone may think that crossing borders is quite big, but I think this is actually a new stage. I think now the entire crypto industry has reached a time where we need to closely interact with sovereign countries, regulators, and international organizations, because after all, the size of our entire industry is here. Now the entire industry is about 2.2 trillion US dollars, which is a deeply rooted state of affairs. I think we need more countries to fight for sovereignty, and the international organizations/multilateral diplomatic relationships behind them, as well as the recognition of most people at the global level. So I think our diplomatic status is not only for Tron, including the entire blockchain industry and the cryptocurrency industry; I think this is also a very important opportunity for us to show it on the international stage. I hope not only can the WTO play a role in advancing Grenada's national interests, but also push the blockchain and cryptocurrency industry to a different level. I'm probably the first person in our industry to become an ambassador, so I think it's a new thing, but it's also a thing that crosses the ages. Comparative note: If you return home in the future, Foreign Minister Wang Yi will have to meet you. Sun Yuchen: I don't dare say Foreign Minister Wang Yi, but the representative of China should be Li Chenggang (Ambassador Extraordinary and Plenipotentiary of the Chinese Delegation to the WTO); he should be our interlocutor. Comparative note: There will be some people who think this is hype; what would you like to say to them? Sun Yuchen: First, this is definitely impossible. The ambassador is a national heavy equipment, right? In the past, people may have joked that I spent 4.6 million dollars to shoot Buffett's lunch, but after all, China's WTO chief representatives, including special ambassadors, also serve as vice-ministers of commerce and assistant ministers, so this is quite important. Of course, I'm also on thin ice. This time, I'm hoping to get this errand done seriously. Comparative note: This is indeed very different from your previous experience. Do you think it's very challenging? Sun Yuchen: First of all, you're absolutely right. I'm definitely very excited, because after all, it's a new position. Second, it's true that I'm also a bit nervous. Of course, I've also been strengthening my studies recently. I think after all, I represented Grenada at the WTO meeting. W...

1708d agoWendy#WTO #cryptocurrency #blockchain #Sun Yuchen #Comparative interview

Messari's 2022 Crypto Trend Forecast Report: Chapter 6 [NFT & Web 3.0]

This article is the translated version of the sixth chapter [NFT & Web 3.0] of Messari's 2022 Crypto Trend Research Report. The translation team will continue to follow up. For more information, welcome to join: Bitu Discord Community https://discord.gg/QSvv7MZ2tz比推 Telegram https://t.me/bitpush现在在市场上越来越多能听到 “Web3” because of it It is easier to understand than “crypto” and will replace it as synonymous with the decentralized technology movement. Web3 is better at attracting new people, and it also seems less scary for regulators. Mason defined Web3 as “a paradigm shift to a more democratic internet,” where the entire network is managed collectively, and everyone has the right to govern. Chris Dixon said that Web3 gave us “an opportunity to move to the crypto economy. And establish a completely consistent system of incentives for network owners, network participants, and third-party developers”. I love these definitions. Rearchitecting internet services and products to benefit users rather than managers is Web3. 1. NFTs — digital goods on the global ledger let's start with this year's most landmark asset class — NFTs. Yes, they're like this bull run of ICOs: sky-high hype, crazy fluctuations, lots of early players profiting from them, and complete garbage. But as a new asset class, they're going to change the world. NFTs are cool because they represent traceable scarcity, composability, and programmable digital assets. An NFT could be a stock, a virtual weapon in an MMORPG, a personal avatar on social media, a new piece of digital art, a piece of land in a metaspace, or a record of your data on Facebook. The potential of NFTs is limitless, as the blockchain behind them will become a global ledger of transactions for virtual, physical assets. The “real world” version of an NFT might be a contract similar to a house (verifiable scarcity), and if I were to prove ownership to my insurance company, I might only need to sign a transaction using a wallet containing a contract receipt. I can allow Airbnb guests to have access to that home with specific NFTs (programmability), or I can apply for a home equity credit line and use the NFTs as collateral to collateral on a peer-to-peer loan platform. But that's all an afterthought; what we have now is just a toy. I logged in to the VR casino with my virtual identity (verifiability), then sat down in a chair, and the bookmaker recognized my profile picture as TBI (digital representation of assets). Since this is my 10th time playing at this casino, my player cards can flash (programmable) to attract more players to play at my table. The casino definitely likes customers like me, so they decided to send me a virtual “wine voucher” that can be redeemed for a gift on Uber, Eats, Drizzly, or any app that recognizes these NFTs. If you can use your imagination, you'll see a huge potential business opportunity here. The value of the existence of NFTs is so intuitive that even the New York Times has reported it. Here's a column by Ezra Klein: “Think of it this way. We have an internet to easily deliver information. We can effortlessly share news articles, music files, games, gifs, tweets, and more. The internet makes all of this free and within easy reach. But it's also for this reason that it can't add more value to information, and many times we just need that special value. What the internet is particularly lacking is verifying the following: identity, ownership, and authenticity, and it is these things that give creators a way to get paid. If we are likely to live in a global, virtual, and interconnected world (metaverse) in the future, then NFTs will become the most basic and most important module for building everything in that world. Many people don't want to live in a virtual world right now...

1717d agoChen.Zou#Messari #NFTs #Web 3.0

Talking about Polygon — the “Internet” of Ethereum-compatible chains

Polygon Chain was originally a one-tier network launched under the name Matic. At launch, Matic intended to be an “Internet of Blockchains (Internet of Blockchains)” that would allow developers to build products with cross-chain compatibility and interoperability. However, as Ethereum became the dominant smart contract chain, Polygon gradually faded out of people's eyes, but with the development of the entire network and the saturation of Ethereum, the market slowly began to understand the importance of cross-chain. In response, the Polygon team turned to a framework for building and connecting Ethereum-compatible blockchains to help Ethereum scale, and their goal changed from an “internet of blockchains” to an “internet of Ethereum-compatible chains.” Polygon has always focused on the experience of its users and developers. Since reinventing the brand, developers have begun to pour into Polygon, and the slogan “made for developers” seems to have become a reality. Polygon has made great strides in 2021 due to Polygon's dual aura of optimizing the developer experience and mitigating Ethereum's scaling issues. Over the past six months, the number of contracts deployed on Polygon has completely surpassed Ethereum. Since May 2021, the number of daily active addresses began to rise sharply. To continue growing, Polygon must simultaneously attract new developers and retain them. In order to allow developers (and end users) to participate in the construction of its ecosystem, the Polygon team has been focusing on building a light-deployment development environment for blockchain networks, while also focusing on improving its module security (“security as a service”). Ethereum's shortcomings; Polygon's breakthrough point With Ethereum becoming the dominant blockchain, while enjoying an increasingly prosperous ecosystem, gas fees have also become an indelible pain for countless users. Polygon's strategic decision to focus on the Ethereum ecosystem is prescient from now on. In the first half of 2021, gas fees continued to exceed 100 gwei, and during the peak period to over 350 gwei. Due to Ethereum's price fluctuations and the complexity of interaction with the network, a transaction may cost users tens or hundreds of dollars, and transaction processing time will also increase dramatically. These problems are all forcing users and developers to seek suitable alternatives. Polygon aims to solve the dual problems of transaction costs and time costs by providing various scaling solutions while retaining users for Ethereum. Polygon is highly consistent with Ethereum in terms of goals and philosophy. Through EVM compatibility and most importantly, Polygon still maintains the security of Ethereum behind it. Polygon Framework: Overview Independent Chains and Secure Chains Two types of blockchains can be deployed on Polygon: standalone chains and secure chains. A “standalone” chain does not rely on Ethereum's consensus to guarantee a secure blockchain. This solution is for projects that already have their own validation nodes or are looking to implement another scalability solution. These unique chains are usually used by enterprise networks or mature chains looking to integrate with the Polygon-Ethereum ecosystem. A “secure” chain is one that doesn't have its own verification network, but instead relies on Polygon's security layer. Polygon has an extremely high level of security while allowing developers to choose from a variety of security solutions, the most popular of which is the Polygon PoS (Proof-of-Stake) chain. These safety chains are designed to help startups and projects that require reliable security systems. Whether it's an independent chain or a secure chain, it's relatively easy for developers to deploy. This ease of deployment gives developers more options to meet the needs of their users, and this flexibility comes from Polygon's infrastructure. Architecture Whether it's an independent chain or a secure chain, the blockchains deployed on Polygon operate within the same architectural framework. Polygon's architecture has four components: the Ethereum layer, the security layer, the Polygon network layer, and the execution layer. The Ethereum layer Polygon uses Ethereum as its base layer. This layer consists of one on Ethereum...

1719d agoChen.Zou#Polygon #Ethereum

Metaverse Walkthrough Guide: Skyrocketing MANA, Million Dollar Land Auction, What's Happening in Decentraland?

MANA, which has skyrocketed 66 times in a year, is the native token of the metaverse project Decentraland, which is based on Ethereum's decentralized 3D virtual reality platform, or the more common term — metaverse. Users develop and own land plots, art, and NFTs. Members can also participate in community governance by joining the platform's recently launched Decentraland DAO. “Minecraft” (Minecraft) is a game most familiar to the public, and we can roughly think of Decentraland and The SandBox as a “Minecraft” chain game version, but of course, they created a brand new world. Decentraland allows players to create their own 3D worlds and sell goods to others; this production of value and transactions is the underlying architecture of its token economy system. Users can use the game currency MANA to buy land in these worlds and build various buildings on these lands. Any building you can imagine: parks, hotels, even casinos, etc. In addition to selling their creations, users can also experience being a chartered father/wife in a virtual world and rent Land to others to collect rent. MetaVerseCentraland's Land is limited to 90,000 total sales to the public. Public spaces, squares, and roads in Decentraland are owned by developers, and users are not allowed to buy or sell them. One of the main drivers of LAND value in Decentraland is scarcity. Just like in the real world, space in this metaverse is limited, which makes owning real estate within this metaverse potentially valuable. Each plot is exactly 16 x 16 meters (256 square meters) in size, represented by an ERC-721 NFT. Each plot of land can be found at a specific coordinate in the metaverse. Although every plot of land is the same shape and size, the difference in price between parcels can still be thousands of times greater. Governance Decentraland is also one of a growing number of projects using decentralized autonomous organizational structures (DAOs) to complete governance decisions. DAO is an abbreviation for decentralized autonomous organization. It is commonly known as a next-generation organizational structure that can disrupt a company. In theory, DAO is a community of like-minded people working for the common good, and the biggest difference from traditional company types is that DAO does not have a central authority figure (not a person with great authority, but a person with great power) to lead, and every participant in the DAO can make suggestions for the development of the community and vote for new proposals. As a result, MANA token holders are largely involved in the development of the Decentraland world. By proposing policy updates and voting on specific details of upcoming LAND auctions, it directly affects the future development of the metaverse. In addition to providing a content creation platform in the virtual world, many Decentraland users have now realized the process of monetizing through their LAND through leasing, advertising, and payment experiences. Previously, most land-type NFT earnings were limited to turnover, hype, and Ponzi schemes. Similarly, other users earn revenue by creating and selling items on the Decentraland marketplace to earn MANA tokens, or by selling their own NFTs on third-party websites such as OpenSea. Although Decentraland was developed as a 3D virtual world for spending and earning MANA, in actual use, Decentraland breaks down client-side barriers very well. As long as users have an internet connection and a terminal device (desktop, laptop), they can explore this metaverse. And the process is completely free. Decentraland doesn't currently support mobile logins, but given the huge user base Axie has acquired on mobile, it's only a matter of time before Decentraland finally opens up to mobile. Project history and founder Decentraland is composed of two Argentines Ari Meilic...

1719d agoChen.Zou#Decentraland #Gamefi #Mana #metaverse

Where did the high yield of DeFi, which supposes traditional finance, come from?

In recent years, traditional banking services have become increasingly unpopular. The annual interest rate for some bank savings accounts in the US can even be as low as 0.1% (considering that the current US inflation is close to 5%, savings accounts = spending coins); in the same period, the annual interest rate for deposits in Anchor Protocol was 20% (Note: Anchor Protocol was created based on the stable asset protocol Terra Money. It is a new type of savings agreement designed to coordinate blockchains from multiple PoS agreements (Block rewards balance interest rates and ultimately achieve a stable yield storage interest rate) I think anyone knows which one to choose next. Defi's yield seems unrealistically high all the time, which makes one wonder, how are these yields generated? Are they really sustainable, or is it just a Ponzi scheme? Compared to other markets such as traditional finance, cryptocurrencies have a high yield. This is also what many skeptics criticize. Abnormally high yield = Ponzi scheme. There doesn't seem to be anything wrong with this logically. But we still need to do our own research and understand that doing due diligence is more important than anything else. DeFi's high returns aren't just for Degen. DeFi is probably famous for its extremely high yield, even when using relatively safe assets such as USDC, USDT, DAI, and BUSD. You can also get quite good returns: Stablecoin loans on platforms such as Aave and Compound: 6-8% annual yield; 4-20% annual yield; Liquidity mining: 50-200% annual yield; Degen alluvial yield: 200-30M% annual yield is obvious, and risk and benefit are also positively correlated in the crypto market. For example, lend your stablecoins to relatively secure protocols (Aave and Compound), and they can give you at least 4% of revenue per year. The figure below shows Aave's annual return: The yield on the loan comes from the borrower borrowing money from the agreement and paying higher interest. The agreement made interest spreads between loans similar to what banks do today. If demand for borrowing rises, so will the yield on borrowing. And the yield between different stablecoins will also vary. For example, the yield of USDT is often high, because USDT, which is currently fraught with various regulatory and shady issues, has caused many investors to start to avoid it, so it is only natural that one point of risk is exchanged for one point of return. The risk of participating in this type of investment is that the agreement becomes the target of hacking attacks, and the collateral is insufficient, all of which may cause investors to lose their capital. Cream Finance, which has been attacked one after another, is a pretty good example. There have been many reports about the project before, such as [the DeFi protocol Cream Finance was attacked by flash loans again, with losses exceeding US$130 million], [Cream Finance was attacked by flash loans, and the AMP token contract had a reentry vulnerability], and [the DNS of the Cream website was attacked, and the team reminded users not to submit information such as private keys to the website]. Cream Finance's liquidity pool was eventually completely emptied, and users of the product fell victim. Liquidity mining is not the only way to earn Defi dividends as a lender; you can also choose to earn revenue by providing liquidity in a liquidity pool, that is, liquidity mining. This means you can charge transaction fees as a market maker, and sometimes as a reward in the form of governance tokens. But providing liquidity is not a zero-risk thing either. First, as a liquidity provider, you must hold at least two currencies, which means you have at least two cryptocurrency risk exposures. Second, you may face impermanent loss (impermanent loss), in which case holding tokens is a better option. Crypto financial consulting firm Topaz Blue recently released a market analysis report, which mentioned that 49.5% of the liquidity providers on Uniswap V3 have generated negative returns due to impermanent losses (but even so, the transaction fees provided by Uniswap can still make up for unpaid losses in the vast majority of cases, which is why there are still a large number of investors willing to invest and provide liquidity). In fact, unpaid losses are more like an opportunity cost, you...

1725d agoChen.Zou#Aave #Compound #DeFi #Liquidity mining #pledge

[Exclusive] Multicoin Capital: Binance Investment began negotiations at the end of last year

The mainstream crypto exchange Binance has become a limited partner in the Multicoin Capital crypto fund. This is the first time that Binance has invested in an external fund. In an exclusive interview with Bitpush, Multicoin Capital spokesman John Robert Reed revealed that they and Binance have been talking about investing since the end of last year. Reed also stated that this is not the first time Binance and Multicoin have collaborated, “We have a great relationship.” “Over the years, we've worked closely with Binance in many different capacities. We started exploring Binance in 2018, and we published a paper on Binance in February 2019.” The paper Reed mentioned was “Binance Coin ($BNB) Analysis and Evaluation”, written by Tushar Jain. Jain is Multicoin Capital's managing partner, and he leads Multicoin Capital's portfolio building, risk management, and team management. Jain stated in the report: “We believe Binance is leading the race to become the world's leading crypto exchange. We also think Binance's token, BNB, is greatly undervalued because it is a novel asset with many characteristics that investors are not fully aware of.” At the time of publication of the paper, the price of Binance Coin was only around $10; today, Binance Coin has risen to $239. Reed said the investment marks Binance's trust in Multicoin Capital. Regarding Multicoin's future investment strategy after that, Reed emphasized: “We will continue to implement an investment strategy based on theoretical orientation.” The exact amount of Binance's investment in Multicoin this time has not been disclosed. Photo Source: Multicoin Capital; Author Sara Zhang This article is from Bitpush.News. The source is required for reprinting.

1999d agoSaraZhang#Multicoin #Multicoin Capital #Binance #Binance Coin #Comparative interview

Comparative conversation with CME Managing Director Tim McCourt: What is the reason behind the launch of Ethereum futures?

The Chicago Mercantile Exchange (CME) launched an Ethereum futures contract on February 8, with a trading volume of over $33 million on the first day. In 2017, when CME first launched a Bitcoin futures contract, the price of Bitcoin plummeted and entered a long bear market after the launch of the contract product. Will Ethereum follow suit? What is the reason behind CME's launch of Ethereum futures? Let's have an exclusive conversation with CME to find out about this. Here's the full interview transcript: Comparative: What do you think is the reason behind CME's decision to launch Ethereum futures? Tim McCourt: When we looked at CME's product development, we found that it was largely influenced by customer demand, and we entered the cryptocurrency derivatives sector as early as 2017. For the past 3 years, customers have been asking us to introduce the Ethereum Reference Rate (BRR) contract that is cash-settled in US dollars, which was launched in May 2018. As you see people's interest in the ETH network increase, the price of Ethereum has also increased over the past year, and many DeFi projects have gone online. Also, for us, providing futures has greatly benefited our customers and other market participants. Not only does it have the ability to hedge against other Ether positions they may have, but it can also be used as a way to enter the Ethereum market. Comparative: Is this similar to the reason CME launched Bitcoin futures three years ago? Tim McCourt: To some extent, many customers want to use futures contracts to trade on regulated futures exchanges as the primary access tool for cryptocurrencies. The difference was in 2015 and 2016, when we started trading Bitcoin futures. Bitcoin is representative of cryptocurrency, and people want to get involved in this exciting new thing. Now, the Ethereum network and Ethereum have very specific interests and needs, which shows that people want to participate in more specific and specialized financial projects. Analogy: Indeed, because Bitcoin is more of a store of value, ETH is a financial infrastructure. I was wondering when CME decided to launch Ethereum futures? I know this news was released in December of last year, but in internal discussions, when did you first consider launching Ethereum futures? Tim McCourt: We had been communicating with customers for several months before that, and after a rigorous internal decision-making process, we validated this concept in product design with transaction participants, settlement members, and regulators. So it was a months-long process. Comparative: For CME, how do you think the current crypto market environment is different from 3 years ago? CME first launched Bitcoin futures three years ago, opening a new chapter in the cryptocurrency market. How do you think the current market environment is different? Tim McCourt: I think the biggest change in 2021 compared to 2017 or 2018 is probably the entry of institutions into the cryptocurrency sector. Institutions have begun to adopt cryptocurrencies in recent years, and this trend has accelerated in recent months. Most notable, in my opinion, is that the average number of open positions per day in the fourth quarter of 2020 reached a record 11,100, an increase of 230% compared to the fourth quarter of 2019. Furthermore, the number of large open equity holders reached a record high in December, that is, traders holding 25 or more open positions in Bitcoin futures, that is, 125 or more bitcoins, with a multiplier of 5 bitcoins. January of this year was a record month for us in terms of average daily trading volume. Our daily contract volume exceeded 17,500, an increase of more than 60% over January 2020. Here's some data. Institutional adoption is accelerating as companies disclose their investments in Bitcoin or accept payments in Bitcoin or cryptocurrencies. The most common question we received in 2017 was “What is Bitcoin? What is cryptocurrency?” Now, with the introduction of Ethereum futures after 3 years, the question gradually evolves into: “How much of my assets should I allocate to cryptocurrencies? How should I trade cryptocurrencies?” Comparative: So, do you think institutional adoption of cryptocurrencies was one of the reasons CME decided to launch Ethereum futures? Tim McCourt: Yes, of course, we think Bitcoin's success has also encouraged us to expand into a second type of digital asset. About a year ago, we launched Bitcoin Options in January 2020. So I'd like to say that Bitcoin's success has certainly made us more confident in expanding cryptocurrency products driven by customer demand. Current Bitcoin futures traders, market participants, and some more focused on Ether are also hoping to see the future of Ether...

2019d agoamyliu19#CME #Tim McCourt #Ethereum #cryptocurrency #futures

[Weekly review] Ethereum has repeatedly reached new highs, Bitcoin has returned to 40,000, and DeFi coins have ushered in spring; CEOs of tech giants such as Musk and Jack Dorsey are optimistic about the crypto industry; good news comes out of the MicroStrategy summit

Every Sunday, the big and small things you need to know about the past week's blockchain news. At the beginning of this week, we were still affected by the aftermath of last week's WSB retail war against Wall Street bears. The agencies and officials involved were questioned by all parties, and the US regulators and government all took action. In terms of market conditions, the overall crypto market has risen, Ethereum has repeatedly reached new highs, and Bitcoin has once again broken through the 40,000 US dollar mark today. The Defi coin situation is very good. Additionally, MicroStrategy hosted an online World.now summit this week, inviting executives from various major companies. Many of the participants looked forward to the future of the crypto industry. [This week's market: Ethereum has repeatedly reached new highs, Bitcoin has returned to 40,000, and DeFi coins ushered in spring] The crypto market rebounded slightly on Monday. Bitcoin and Ethereum showed mediocre performance, Dogecoin's popularity declined, falling by nearly 10%. XRP rapidly rose by more than 140%, then ushered in a waterfall of more than 15%. The crypto market collectively rallied on Tuesday. Bitcoin, the cryptocurrency with the highest market capitalization, surpassed $35,000, and Ethereum, the second-largest cryptocurrency by market capitalization, rose 12%, breaking through $1,500 in one fell swoop to a new all-time high. DeFi coin UMA rose more than 20%. The crypto market generally rose on Wednesday. Ethereum once again reached a new all-time high, reaching $1,600, driving the overall rise of DeFi tokens. Among them, UMA led the rise by nearly 60%. Bitcoin, the number one cryptocurrency by market capitalization, rebounded to the $37,000 mark. The Aave price increased 76%. It hit a record high of $520. The overall crypto market rose on Thursday. DeFi tokens performed well. UMA was stimulated by the favorable news of the agreement upgrade. The increase was over 50%, and both 0x and Aave increased by nearly 40%. The market value of the platform coin BNB rose to 9th place, and Bitcoin and Ethereum stagnated. The crypto market continued to rise on Friday. Ethereum surpassed 1,700 US dollars, a daily increase of more than 6%, and reached another record high. Defi coins continued to rise, with 0x rising more than 50%, and Cosmos and Road Print all rising by more than 30%. The crypto market continued to rise on Saturday. Bitcoin rose more than 6%, breaking the $40,000 mark, and Ethereum hovering above $1,700. According to reports, the Bitcoin futures market's trading volume in January was 2.9 trillion US dollars, a record high. Among them, Binance has the largest trading volume, accounting for 30%, followed by Huobi (23.8%) and OKEx (16.9%). [Institutional Companies: MicroStrategy Buys 295 Bitcoins Again, Glenn Hutchins Launches New Crypto Venture Capital Fund] Institutional companies are still optimistic about cryptocurrencies this week, either adding crypto assets, or launching new crypto funds, or piloting new technologies. On Tuesday, MicroStrategy once again purchased approximately 295 bitcoins for $10 million in cash, with an average purchase price of around $33,808 each. Glenn Hutchins, co-founder of private equity firm Silver Lake Partners, and his son James Hutchins and partner Travis Scher launched a new $72 million crypto venture capital fund on Thursday. Meanwhile, payment giant Visa announced on Wednesday that it is piloting a set of cryptographic application programming interfaces (APIs) that will allow customers to “easily connect to the infrastructure provided by Visa's partner, Anchorage,” to provide Bitcoin services. [Project financing: Opyn announced the completion of Series A financing of 6.7 million US dollars; 0x Protocol Series A financing received support from IOSG Ventures] Some outstanding DeFi projects also received financing this week. On Wednesday, the DeFi options platform Opyn announced the completion of Series A financing of 6.7 million US dollars, led by the famous venture capital Paradigm. Decentralized exchange protocol 0x Protocol announced on Friday that Series A funding was supported by IOSG Ventures. IOSG Ventures said they believe 0x Labs will inject momentum into the DeFi sector. [Exchange banks: Crypto exchange Coinbase will be directly listed on NASDAQ; Bitfinex announced that it has paid off Tether's $750 million loan] The overall news from crypto exchanges and digital banks this week is positive. Crypto exchange Coinbase said on Monday that it would choose to list directly on NASDAQ. On January 25, the Nasdaq private equity market's secondary market for Coinbase shares allowed shareholders with vested interests to sell shares. Rob...

2022d agoSaraZhang#Weekly review of the comparison

[Comparative to Zaobao] Ethereum's strong rise broke through an all-time high of $1,500; MicroStrategy once again bought Bitcoin with $10 million in cash; Forbes Crypto Rich List: 11 people with assets exceeding $1 billion

Every morning, blockchain news you need to know: [Ethereum's strong rise broke through $1,500 to a new all-time high] According to comparative data, Ethereum, the second-largest cryptocurrency by market capitalization, rose 12% on Tuesday, breaking through $1,500 to a new all-time high. This is another record high for Ethereum after January 19. Currently, the cryptocurrency's market capitalization has reached 172.2 billion US dollars. Since entering 2021, Ethereum has achieved a 100% increase, thanks to the booming development of the decentralized finance sector. According to DeFi Pulse, more than $28 billion of value has now been locked in Ethereum-based DeFi protocols, which is also a record high. [MicroStrategy buys Bitcoin again with $10 million in cash] According to the official announcement, MicroStrategy has purchased approximately 295 bitcoins with $10 million in cash, with an average purchase price of about $33,808 each. As of February 2, 2021, Beijing time, the company had purchased a total of 71,079 bitcoins at a price of US$1,145 billion, with an average holding cost of approximately US$16,109 each. [Forbes Crypto Richest List: 11 people have assets exceeding 1 billion US dollars] The commercial media Forbes updated its list of the crypto industry's richest people on Tuesday. A total of 11 people have assets of more than 1 billion US dollars. Forbes said that in the past year, the stock market gave investors plenty of reasons to laugh, but no one smiled more brightly than cryptocurrency holders. Currently, the total value of all digital coins is over 1 trillion US dollars, a fourfold increase from 250 billion US dollars in January 2020. After calculating the digital currency held by these crypto industry insiders and their shares in related companies and traditional assets, Forbes found that 11 people had assets of more than $1 billion. [Crypto market hits, Ethereum breaks $1,500] Over the past 24 hours, the crypto market has collectively risen. Bitcoin, the cryptocurrency with the highest market capitalization, surpassed $35,000, and Ethereum, the second-largest cryptocurrency by market capitalization, broke through $1,500, reaching a record high. The current total market capitalization of the cryptocurrency market is $1,077,997,137,874, and the 24-hour trading volume is $223,126,809,707. Bitcoin accounts for 61.37% of the market. In the past 24 hours, 16 of the top 20 cryptocurrencies by market capitalization have risen, and 71 of the top 100 cryptocurrencies by market capitalization have risen. The top 3 gainers were UMA (22.95%), Solana (19.68%), and Siacoin (17.54%). The top 3 declines were Dogecoin (-18.00%), Onix (-13.84%), and XRP (-11.30%). [Indian Government clarifies position on cryptocurrency and digital rupee] The upper house of the Indian parliament published a list of questions and written responses on Tuesday, in which it clarified its position on cryptocurrencies and the digital ruble. According to public documents, Indian MP Sri Sanjay Raut asked Finance Minister Anurag Singh Thakur if the Indian government was aware that many commercial companies were using cryptocurrencies to conduct international transactions in the past year? Is the government considering the possibility of introducing India's own cryptocurrency? Thakur answered the first question with “no.” To a question about the digital rupee, he said, “No. In the 2018-19 budget speech, the government did not consider cryptocurrencies legal tender and will do everything possible to use these crypto assets to finance illegal activities or become part of the payment system. The government will actively explore the use of blockchain technology to usher in the development of the digital economy.” [Chen Kaifeng: US GDP is expected to reach 6% this year, and the government will control Bitcoin] Chen Kaifeng, chief economist at Huisheng Finance, a professor at New York University, and CEO of Edoc Acquisition Corp, recently listed on NASDAQ, said in an exclusive interview with “Comparative” that the US economy will recover rapidly in the second half of the year. Regarding the US economy under the pandemic, Chen Kaifeng believes that it is very likely that the 1.9 trillion economic stimulus plan announced by Biden will pass. Although the number of unemployed people in the US is still high, it is mainly due to the slump in the service sector. The current state of manufacturing and the overall economy in the US is actually very good. Driven by stimulus policies, the second half of the year should be overheated. With the COVID-19 pandemic subsided and vaccines spread, the US GDP could achieve a 6% growth rate this year, taking into account currency...

2026d agoamyliu19#Comparing Zaobao

Chen Kaifeng: US GDP growth is expected to reach 6% this year, and the government will control Bitcoin

Chen Kaifeng, chief economist at Huisheng Finance and professor at New York University, and CEO of Edoc Acquisition Corp, recently listed on NASDAQ, said in an exclusive interview with “Comparative” that the US economy will recover rapidly in the second half of the year. Regarding the US economy under the pandemic, Chen Kaifeng believes that it is very likely that the 1.9 trillion economic stimulus plan announced by Biden will pass. Although the number of unemployed people in the US is still high, it is mainly due to the slump in the service sector. The current state of manufacturing and the overall economy in the US is actually very good. Driven by stimulus policies, the second half of the year should be overheated. With the COVID-19 pandemic subsides and the spread of vaccines, the US GDP can achieve a 6% growth rate this year, while the nominal GDP growth rate after considering inflation is likely to reach 8% or more. Chen Kaifeng is also optimistic about the US stock market, which represents the trend of the US economy. He believes that although there may be a correction in the future, there is no problem in the overall direction. This year in particular, many high-quality new companies will enter the US stock market. However, large-scale economic stimulus policies are bound to trigger inflation. Chen Kaifeng believes that, to a certain extent, this is an update of the US economy. Under the new economic situation, retired elderly people will face great pressure, and rent and medical outpatient expenses will become more and more expensive. Although interest rates will rise in the future, it will have little impact on young people. The COVID-19 pandemic will cause the two major countries of China and the US to move on the opposite side of globalization and develop into endogenous economies. Chen Kaifeng told “Comparative” that the share of foreign trade in the two countries' economies will continue to decline, and enterprises will also pay more attention to the development of the local market. From a global perspective, countries will be less and less likely to divide their labor with each other, and each country will focus more on itself in the future. Chen Kaifeng believes that the Biden administration is not fundamentally different from the previous Trump administration in terms of relations with China; however, the new administration is more systematic in formulating policies, and priorities in different fields may differ. China and the US will not completely decouple; they will continue to maintain a state where cooperation and competition coexist. Many listed companies and Wall Street funds are aggressively buying Bitcoin as a “stored value asset” due to concerns about inflation and fiat currency depreciation caused by economic stimulus policies. Chen Kaifeng believes that it is OK to invest some assets in Bitcoin to hedge, but the government may control this field. He said that the recent decline in the price of Bitcoin was influenced by the newly appointed US Treasury Secretary Yellen. According to the “Comparative” report, Yellen has previously stated that Bitcoin is a tool for “money laundering.” Image source: Pixabay Author's Twitter This article is from BitPush.News. The source must be indicated for reprinting...

2027d agoLiang#Bitcoin #custodial #financially #USA #Chen Kaifeng