Banning, raiding, arresting, fleeing, who can be the last survivor of the blockchain?
guide
With the sudden wave of regulation and the market on the verge of collapse, the industry entered the cold winter again almost overnight. Investors were panicked and project parties were in turmoil. Everything that is happening now is so similar to the chilling 94.
Summary
Summary
Topic: A new wave of supervision: title bans, raids, arrests, and escapes. In November 2019, China issued intensive blockchain supervision notices; Binance, Tron official Weibo and multiple blockchain media public accounts were blocked; Binance’s Shanghai office was suspected of being raided by the police; most of the BISS staff have been arrested; The digital token market has plummeted, and many exchanges have delisted counterfeit tokens in batches. Under the heavy hammer, who can be the last survivor? Exchanges: Compliance, licensing, and centralization are the general trend. Media: The future is still indispensable. Media that rely on gray industries, have no original ability, and lack user stickiness will eventually be eliminated. Project party: Only the innovation chain, application chain, and value chain that focus on the application of the blockchain industry can become the last survivors.
Market: a sharp decline, building the bottom. This week, the total market value of digital tokens was 201.76 billion US dollars, a decrease of 14.6%. The average daily turnover was US$74.07 billion, an increase of 8.2%, and the average daily turnover rate was 33.4%, an increase of 5.3%. The current price of BTC is US$7,297, with a weekly decline of 14.1%; the average daily trading volume is US$22.2 billion, and the average daily turnover rate is 15.4%. The current price of ETH is US$150.3, with a weekly drop of 16.8%; the average daily trading volume is US$8.2 billion, and the average daily turnover rate is 44.2%. This week, the BTC balance on the exchange was 821,300, an increase of 65,500 from last week. The ETH balance on the exchange was 8.71 million, an increase of 47,000 from last week. In the BICS secondary industry, the market value of media content has increased significantly.
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Risk warning: regulatory policy risk, market trend risk
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1 Topic: Banning, raiding, arresting, fleeing, who can be the last survivor of the blockchain?
With the sudden wave of regulation and the market on the verge of collapse, the industry entered the cold winter again almost overnight. Investors were panicked and practitioners were all in danger. Everything that is happening now is so similar to the chilling 94.
In November 2019, China issued intensive blockchain supervision notices. Since November 2019, the Hong Kong Securities Regulatory Commission has issued the "Position Statement: Supervision of Virtual Asset Trading Platforms" and "Warning on Virtual Asset Futures Contracts". On November 21, the Shenzhen Local Financial Supervision Bureau has identified 39 companies involved in illegal activities involving virtual tokens.
Titles: Binance, TRON official accounts and multiple blockchain media public accounts were banned. On the evening of November 13, 2019, the official Weibo accounts of Binance and TRON were blocked; on the evening of November 20, 2019, multiple blockchain media public accounts were blocked.
Raid: Binance Shanghai office suspected of being raided by police. On November 22, 2019, TheBlock reported that the Shanghai office of Binance was closed after being raided by the police. More details about the closure of the Binance Shanghai office.
Arrest: Most of the BISS personnel have been arrested, and the arrest wave has just begun? According to media reports, on November 5, 2019, the door of an office of BISS in Chaoyang District was closed. People familiar with the matter said that most of the staff of BISS were taken away by the police on October 30 for investigation. Suspected of fraud. According to the Securities Times, industry insiders close to the regulators revealed: "The wave of arrests has just begun." On November 22, according to the Shanghai Securities News, "I learned from people close to the Office of the National Internet Financial Risk Special Rectification Team that the block The chain is not equal to the virtual pass, and the regulatory authorities have not changed their attitude towards the hype of the virtual pass and the trading venues of the virtual pass. At present, the supervisory department has made a comprehensive deployment and requires all parts of the country to comprehensively investigate the territory and use the blockchain to carry out the hype of the virtual pass. In the next stage of work, the regulatory authorities will step up efforts to clean up and rectify virtual tokens and trading venues, and deal with them when they are discovered.”
Run away: The digital token market has plummeted, and many exchanges have delisted counterfeit tokens in batches. Beginning on January 21, 2019, digital tokens plummeted collectively, and at the same time, all exchanges began to remove counterfeit tokens in batches, which was in stark contrast to the previous frenzied listing of tokens.
1.2 Under the hammer, who can be the last survivor?
Under high pressure, "survive" is the kingly way. According to the data from Shanghai Securities News, since 2019, a total of 6 newly discovered virtual token trading platforms in China have been closed, and 203 overseas virtual token trading platforms have been technically disposed of in 7 batches; through 2 large non-bank payment institutions, closed There are nearly 10,000 payment accounts; on the WeChat platform, nearly 300 publicity and marketing mini-programs and official accounts have been closed. Under the new round of regulatory pressure, blockchain exchanges, media, and project parties, who can be the last survivor?
Exchanges: Compliance, licensing, and centralization are the general trend. Compliance is an unavoidable problem for digital asset exchanges and even the entire blockchain industry. After 1994, countless prosperous exchanges disappeared one after another. Today's top three are not the top three of the year, and perhaps they will not be the top three of the future. The traditional securities trading market has been relatively mature after years of development, and its history and lessons have important reference significance for the future development of the digital asset trading industry. Due to the lack of supervision, opaque information and extreme irrationality of the public, the traditional securities market has been full of speculation, manipulation, fraud and insider information for a long period of time. Since then, the relevant legislation and supervision of the securities market have been gradually strengthened, and securities in various countries (regions) There is a tendency for the regulatory regime to converge. At present, the major countries (regions) in the world have two levels of supervision on the securities market: government supervision and self-discipline supervision. The specific supervision models are government-led, market self-discipline and intermediate. In order to overcome the disadvantages of different supervision systems, the supervision model, It is increasingly developing towards the direction of combining market self-discipline and government leadership. At present, the blockchain industry is still in the early stage of development, and the supervision of digital asset transactions is still in the process of exploration. Compliance and licensing are the general trend, and the in-depth development of economic globalization coupled with the cross-regional nature of the blockchain makes the digital asset market supervision have global characteristics from the very beginning. Under such circumstances, how to adapt to the localized regulatory requirements of various countries (regions) and obtain compliance operation qualifications become the key to the future survival of digital asset exchanges. Because of this, major exchanges spare no effort to expand the compliance market in order to Get a head start in the compliance battle. In addition, under the influence of multiple factors such as economic globalization, electronic trading methods, and corporatization of stock exchanges, the traditional exchange industry has experienced a wave of mergers and acquisitions since the end of the 20th century. It can be expected that future digital asset exchanges will also be affected by internal and external factors. Driven towards centralization.
Project party: Only the innovation chain, application chain, and value chain that focus on the application of the blockchain industry can become the last survivors. Recently, the attitude of the relevant regulatory authorities has been quite clear, that is, blockchain is not equal to virtual tokens. Under increasingly stringent supervision, it is difficult for projects that issue tokens to illegally raise funds and carry out fraud to survive for a long time. Only by truly focusing on the blockchain industry Only the innovation chain, application chain, and value chain where the application is implemented can stand out and become the last survivor.
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2 Market: a sharp decline, building the bottom
2.1 The overall market: a sharp decline, building a bottom
This week, the ChaiNext Digital Asset 100 Index closed at 651.70 points, down 15.17%. The ChaiNext Digital Asset 100X (without BTC) Index closed at 1681.49 points, down 17.38%. The trend of mainstream tokens is weaker than that of BTC.
The total market capitalization of digital tokens this week was US$201.76 billion, a decrease of US$34.51 billion or 14.6% compared to last week.
The average daily turnover of the digital token market was US$74.07 billion, an increase of 8.2% from last week, and the average daily turnover rate was 33.4%, an increase of 5.3% from last week.
This week, the BTC balance on the exchange was 821,300, an increase of 65,500 from last week. The ETH balance on the exchange was 8.71 million, an increase of 47,000 from last week. The balance of BTC and ETH on the exchange both increased, and the selling pressure on the market intensified.
The market value of USDT is 4.12 billion U.S. dollars, an increase of 6.89 million U.S. dollars from last week. The sharp drop in the market has promoted the enthusiasm for funds to enter the market, and the USDT premium has increased slightly.
2.2 Core pass: BTC hits a new low recently
The current price of BTC is $7,297, with a weekly decline of 14.1% and a monthly decline of 2.9%. This week, the average daily trading volume of BTC was 22.2 billion US dollars, and the average daily turnover rate was 15.4%. BTC fell sharply this week, hitting new recent lows.
The current price of ETH is 150.3 US dollars, with a weekly decline of 16.8% and a monthly decline of 7.5%. The average daily trading volume of ETH this week was $8.2 billion, with an average daily turnover rate of 44.2%. ETH is weaker this week.
The current price of EOS is $2.63, with a weekly drop of 21.3% and a monthly drop of 3.4%. The average daily trading volume of EOS this week was 2.25 billion US dollars, and the average daily turnover rate was 79.4%. EOS performed weakly and changed hands sufficiently.
The current price of XRP is $0.23, with a weekly decline of 11.5% and a monthly decline of 15.5%. The average daily trading volume of XRP this week was $1.47 billion, with an average daily turnover rate of 13.5%.
This week, BTC’s monthly volatility remained basically unchanged, while ETH rose. BTC monthly volatility is 20.4%, down 0.1% from last week; ETH monthly volatility is 18.6%, up 2.6% from last week; EOS monthly volatility is 24.2%, up 3.1% from last week; XRP monthly volatility is 14.8%, down 1.2% from last week.
2.3 BICS industry: the market value of media content has grown 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 increased from 71.9% to 72.1%. From the perspective of the change rate of market value, media content, stable The growth rate of the market value of the token industry is relatively high, and the decline in the market value of healthcare and physical assets is more obvious.
The BICS secondary industry with a relatively obvious increase in the number of tokens this week is Wallet & Transaction and Performance Optimization, and the most obvious decline is the operating platform.
2.4 Market view: The shock bottoming market may continue
The callback can gradually increase the position. In the long run, high-quality tokens have a lot of room for imagination. It is still in the early stage of the bull market, and callbacks are rare opportunities to increase positions. Investors can make asset allocation according to their own conditions.
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3 Output and Popularity: Declining Computing Power and Attention
This week, according to GoogleTrends, the search popularity of the term Bitcoin is 9, the same as last week, and the search popularity of Ethereum is 5, which is lower than last week.
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4 Industry news: industry regulation is becoming stricter
4.1 Non-Joint Office: Be wary of illegal fundraising in the name of blockchain
The China Banking and Insurance Regulatory Commission’s Inter-Ministerial Joint Meeting Office for Handling Illegal Fund-raising sent a letter to the provincial and municipal non-official offices on November 18, reminding to prevent the risk of illegal fund-raising under the guise of “blockchain”.
4.2 The Shenzhen Mutual Finance Rectification Office reminds the risk of illegal activities of "virtual pass"
On November 21, the Office of the Leading Group for Special Rectification of Internet Financial Risks in Shenzhen City issued a risk warning on preventing illegal activities of "virtual tokens", saying that the hype of virtual tokens has risen recently through the promotion and publicity of blockchain technology. Some illegal activities show signs of resurgence.
4.3 Shanghai Headquarters of the Central Bank: Crackdown on Virtual Token Transactions
The Shanghai headquarters of the People's Bank of China stated that in recent years, hype related to virtual tokens has been refurbished, speculation has prevailed, prices have skyrocketed and plummeted, and risks have rapidly accumulated. Relevant financing entities raise funds from investors or virtual tokens such as BTC and ETH through illegal sales and circulation of tokens, which is essentially an unapproved illegal public financing behavior.
Note:
Note:
Due to some reasons, some nouns in this article are not very accurate, mainly such as: general certificate, digital certificate, digital currency, currency, token, crowdsale, etc. If readers have any questions, they can call or write to discuss together.
Due to some reasons, some nouns in this article are not very accurate, mainly such as: general certificate, digital certificate, digital currency, currency, token, crowdsale, etc. If readers have any questions, they can call or write to discuss together.
