The US presidential coin, a scam under the banner of the election?
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The presidential coin has earned enough gimmicks, will it be a scam under the banner of the campaign?
Summary
Summary
Topic: On October 10, The Andrew Yang Coin (MATH), the campaign token of Chinese-American presidential candidate Andrew Yang, will be officially released, which means that MATH will become the first presidential campaign token. Andrew Yang is an encryption supporter. Since 2018, he has publicly expressed his friendly attitude towards blockchain and digital tokens many times. At present, the official website of Yang Dividend has not been officially launched, and the white paper has not yet been released. The information about the project party and MATH is relatively limited. We can only have a general understanding of Yang Dividend through official tweets and official blogs. According to Yang Dividend’s official blog, Yang Dividend is an organization that supports Yang Anze’s presidential campaign, helps Yang Anze campaign publicity, and launched the MATH project to promote the popularization of encrypted tokens. The organization has been researching MATH since August 2019, and released the smart contract in September 2019. While attracting widespread attention, MATH has yet to reveal its mystery to the public. Although it describes a beautiful vision and the project party has registered in Wyoming, there are still too many questions to be answered, one of which is Is this yet another blockchain scam? Of course, it’s just the beginning, and it seems too early to talk about it, but too many scams have been staged in the encrypted world, and similar things are happening every day. For investors, when faced with any investment opportunity, they should look at the benefits rationally. Objectively assess risk.
Quotes: After rising and falling, the short-term resistance is strong. This week, the total market capitalization of digital tokens was US$227.7 billion, an increase of 2.1%; the average daily trading volume was US$57.1 billion, an increase of 13.8%; the average daily turnover rate was 25.1%, an increase of 2.6%. The current price of BTC is US$8,322, an increase of 1.4%. The average daily trading volume of BTC this week is US$16.5 billion, and the average daily turnover rate is 11.0%. The current price of ETH is 182.6 US dollars, an increase of 3.4%. This week, the average daily trading volume of ETH is 7.7 billion US dollars, and the average daily turnover rate is 38.6%. This week, the BTC balance on the exchange was 886,400, an increase of 2,900; the ETH balance on the exchange was 9.45 million, an increase of 100,000. In the BICS secondary industry, both the market value of physical assets and the number of tokens have declined.
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Risk warning: regulatory policy risk, market trend risk
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1 Topic: US presidential coin, a scam under the banner of election campaign?
On October 10th, according to Yang Dividend’s official news, The Andrew Yang Coin (MATH), the campaign token of Chinese-American presidential candidate Andrew Yang (Yang Anze), will be officially released soon, which means that MATH will become the first presidential campaign token.
1.1 Presidential Candidates Who Support Crypto
Andrew Yang has gone from being unknown to ranking sixth among the Democratic presidential candidates. Even if he withdraws from the race immediately, he has already broken multiple political election records of Asian Americans and Chinese Americans.
At present, the average number of Anze Yang's RCP polls has risen to the sixth place, and the donations he raised in the third quarter of 2019 have also rapidly increased from US$2.8 million in the previous quarter to US$10 million. Therefore, although Yang Anze's mainstream media coverage is only ranked 11th, the ranking of public opinion surveys and a 257% increase in donations are enough to illustrate Yang Anze's strength and potential.
Andrew Yang is an encryption supporter. Since 2018, he has publicly expressed his friendly attitude towards blockchain and digital tokens many times.
1.2 Who is Yang Dividend?
At present, the official website of Yang Dividend has not been officially launched, and the white paper has not yet been released. The information about the project party and MATH is relatively limited. We can only have a general understanding of Yang Dividend through official tweets and official blogs.
According to Yang Dividend’s official blog, Yang Dividend is an organization that supports Yang Anze’s presidential campaign, helps Yang Anze campaign publicity, and launched the MATH project to promote the popularization of encrypted tokens. The organization has been researching The Andrew Yang Coin since August 2019, and released the smart contract in September 2019.
On September 26, 2019, the Yang Dividend official tweet released the first tweet, according to the official tweet:
On September 28, the project white paper was completed and is undergoing legal review;
On October 4th, the project white paper can be released, and the airdrop has been carried out;
On October 5, the release was postponed;
On October 10, it was officially incorporated in Wyoming, and the project will be launched soon.
1.3 President Coin, a new scam?
According to the smart contract address disclosed by the project party, the total number of MATH is 3,141,592,653. The project party’s article on Medium lists 7 reasons why MATH is worth having:
(1) The clear goal of the MATH token is to identify supporters of Andrew Yang and serve as a "souvenir" in support of Andrew Yang's campaign (as can be seen from the creation time and date of the token);
(2) MATH will distribute 100% instead of being reserved for founders and employees like other projects;
(3) The Yang Dividend project is registered in Wyoming, which is the most friendly state for encrypted tokens in the United States;
(4) Like the "Freedom Dividend", MATH tokens can only be divided to two decimal places;
(5) If Andrew Yang succeeds in running for the presidency, the amount of MATH allocated to each holder will be increased... The longer Anze Yang serves as president, the longer the allocation time will be;
(6) MATH will only be distributed in the manner determined in the white paper. Although other projects may change the distribution qualifications and standards over time, MATH will adopt a fixed distribution ratio and distribution system throughout its life cycle;
(7) After the distribution activity is over, all undistributed MATH will be destroyed, which, combined with the MATH grant method, together contribute to the widespread distribution of tokens.
While attracting widespread attention, MATH has yet to reveal its mystery to the public. Although it describes a beautiful vision and the project party has registered in Wyoming, there are still too many questions to be answered, one of which is Is this yet another blockchain scam? Of course, it’s just the beginning, and it seems too early to talk about it, but too many scams have been staged in the encrypted world, and similar things are happening every day. For investors, when faced with any investment opportunity, they should look at the benefits rationally. Objectively assess risk.
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2 Market: high and low, strong short-term resistance
2.1 Overall market:
Both turnovers increase
The total market value of digital tokens this week was US$227.7 billion, an increase of US$4.7 billion or about 2.1% compared to last week.
The average daily turnover of the digital token market was US$57.1 billion, an increase of 13.8% from last week, and the average daily turnover rate was 25.1%, an increase of 2.6% from last week.
This week, the BTC balance on the exchange was 885,400, an increase of 2,900 from last week. The ETH balance on the exchange was 9.45 million, an increase of 100,000 from last week. The balance of BTC and ETH on the exchange has increased, and the selling pressure on the market has intensified.
The market value of USDT is $4.16 billion, an increase of $14.42 million from last week. The enthusiasm for capital entry has picked up, and the USDT premium has increased significantly.
2.2 Core Tokens: Rise and Fall, Volatility Rise
The current price of BTC is $8,322, with a weekly increase of 1.4% and a monthly decrease of 18.2%. This week, the average daily trading volume of BTC was 16.5 billion US dollars, and the average daily turnover rate was 11.0%. BTC failed to attack this week and fell sharply.
The current price of ETH is 182.6 US dollars, with a weekly increase of 3.2% and a monthly increase of 2.2%. This week, the average daily trading volume of ETH was 7.7 billion US dollars, and the average daily turnover rate was 38.6%. ETH performed weaker than mainstream tokens this week.
The current price of EOS is $3.140, with a weekly increase of 3.8% and a monthly decrease of 16.6%. The average daily trading volume of EOS this week was US$1.5 billion, and the average daily turnover rate was 51.0%.
The current price of XRP is $0.27, with a weekly increase of 6.8% and a monthly increase of 5.9%. The average daily trading volume of XRP this week was $1.37 billion, with an average daily turnover rate of 11.7%.
The monthly volatility of major tokens rose this week. The monthly volatility of BTC was 15.6%, up 1.3% from last week; the monthly volatility of ETH was 25.3%, up 0.4% from last week; the monthly volatility of EOS was 31.6%, up from Last week rose 1.1%; XRP monthly volatility was 23.7%, up 1.0% from last week. This week, the volatility of BTC in the market has decreased, while the volatility of other mainstream tokens has increased.
2.3 BICS industry: the market value of physical assets and the number of certificates have dropped significantly
Among the top five BICS (Blockchain Industry Classification Standard, Blockchain Industry Classification Standard) secondary industries, the market value of the payment and settlement industry has decreased, from 72.6% to 72.1%. From the perspective of the change rate of market capitalization proportion, the market capitalization proportion of the project service industry has a relatively high growth rate, an increase of 23.3% compared with last week; the market capitalization proportion of physical assets has dropped significantly, a decrease of 10.8% from last week.
The BICS secondary industries with a more obvious increase in the number of tokens this week are others, non-bank finance, and token asset management, which increased by 20.0%, 16.7%, and 12.5% respectively compared to last week; the number of tokens decreased significantly this week The BICS secondary industries are physical assets, media content and stable tokens, which have decreased by 20.0%, 9.5% and 6.7% respectively compared to last week.
2.4 Market view: Strong short-term resistance
In the long run, the BTC production cut is approaching, and the recent bad news in the market has been digested. Our judgment that BTC is in the early stage of the bull market has not changed. Investors can make asset allocation according to their own conditions.
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3 Output and popularity: The difficulty and computing power of BTC mining have risen significantly
This week, according to GoogleTrends, the search popularity of the term Bitcoin was 10, unchanged from last week, and the search popularity of Ethereum was 6, unchanged from last week.
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4 Industry News: New Progress in Industry Supervision
4.1 The US Internal Revenue Service updates the taxation guidelines for encrypted tokens
The IRS issued additional guidance on the tax treatment of encrypted tokens, including a new IRS regulation and FAQ, which aims to provide taxpayers and Tax Operators Solve Common Problems
4.2 Many companies withdraw from the Libra Association
Following Paypal's withdrawal from the Libra Association, Visa, Mastercard, Strible, Mercado Pago, and eBay have announced that they have abandoned the project.
4.3 The US Securities and Exchange Commission issued a temporary restraining order against Telegram
The U.S. Securities and Exchange Commission (SEC) announced that it has issued a temporary restraining order on the ongoing digital token issuance activities of TelegramGroup Inc. and its wholly-owned subsidiary TONIssuer Inc.
4.4 The Swiss National Bank and the Bank for International Settlements Innovation Center cooperate to study the central bank's digital pass
