OKEx Intelligence Bureau: Grayscale’s BTC trust volume and ETH addresses hit new highs. What are the major changes in the industry?
cryptocurrency market
Table of contents:
Market overview
cryptocurrency market
Market overview
industry voice
Blockchain Industry Empowerment
industry anecdote
Market overview
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The trend of the total trading volume of currencies on the 7th
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OKEx BTC/USDT spot price candlestick chart
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1. 【Cryptocurrency Market】
1. From February to May, the total number of grayscale bitcoin trust funds has reached 343,954
Interpretation:
Interpretation:18.3 million is the bitcoin circulation generally recognized in the industry, but some analysts believe that the circulation of bitcoin is only 14.3 million. According to the calculation of the former, Grayscale holds 1.85% of the total bitcoin in circulation, while the latter is 2.4%. On May 12, after the third production reduction of Bitcoin, miners produced about 900 new Bitcoins per day. Nearly a month after the production reduction, miners produced a total of about 27,000 Bitcoins. The total amount of bitcoins bought in China far exceeds this data. As miners sell fewer and fewer bitcoins, institutions and retail investors buy more and more bitcoins. When the relationship between supply and demand is broken, it is the time for the next bitcoin super bull market.
2. The number of independent Ethereum addresses exceeds 100 million, and the number of new currency-holding addresses and active users hits a new high since 2018
Interpretation:
Interpretation:In the blockchain world, asset addresses are similar to bank accounts in the legal currency world. One of the criteria to measure the strength of a bank is the number of accounts opened by the bank, and one of the criteria to measure the value of encrypted assets is the number of active addresses and currency holding addresses. The larger the value, the higher the attention and the greater the value, and the larger the daily new number, the greater the room for asset appreciation. For Ethereum, its market value is only 15% of the total market value of Bitcoin, but the number of users and active addresses has surpassed that of Bitcoin, which fully proves the intrinsic value of Ethereum.
3. The total market value of DeFi projects has exceeded 2.4 billion US dollars
Interpretation:
Interpretation:Defi ecology is one of the largest landing applications in the blockchain world. Its forms include Bitcoin Lightning Network, pledged lending, DEX, stable currency issuance, etc. It has been supported by Web3.Capital, Coinbase Venture, Fenbushi Capital, Morgan Creek, etc. Digital and other well-known capital injections in the circle. Currently, the 666 Defi projects included in DeFiMarketCap have a total market value of issued tokens exceeding US$2.4 billion. The rapid growth of the market value in a short period of time reflects the explosive power of the DeFi ecosystem.
4. Data: The weekly transaction volume of peer-to-peer Bitcoin in the United States is nearly 29 million US dollars, setting a new record
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2. [Mining Industry Trends]
1. Report: Bitcoin computing power is shifting from China to the United States
Interpretation:
Interpretation:Although the mining computing power of the United States has increased, the current domestic computing power still occupies an absolute advantage. It is understood that the price of electricity is one of the reasons that led to the transfer of China's mining industry to the United States. For example, Texas in the United States relies on abundant hydropower resources, and the electricity price is stable at 0.04-0.048 cents/kWh, although it is higher than the price of hydropower in the domestic flood season. However, "living in the flood season" will undoubtedly increase the cost of domestic miners. On the other hand, policy uncertainty will also lead to risk-averse miners tending to move to areas with stable policies.
2. Russian State Grid Corporation Rosseti: Illegal crypto miners stole $6.6 million worth of electricity in three years
Interpretation:
Interpretation:The incidents of being caught for stealing electricity and mining happen almost every week, but still the same sentence, which one would you choose between Bitcoin and "personal freedom"?
3. Data: Global bitcoin miners earned $366.4 million in May
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3. 【Industry voice】
1. Willy Woo: Buying bitcoin and gold of the same value ten years ago, the former’s current income is about 7.71 million times that of the latter
Interpretation:
Interpretation:Although Bitcoin has many similarities with gold, such as scarcity, anti-hyperinflation, similar issuance methods, etc., due to the small size of Bitcoin at the beginning of its birth, it has greater room for appreciation. For example, 10 years ago, a The price of a bitcoin is only $0.000025, and it has soared millions of times now, while the price of gold has hardly changed in 10 years. On the other hand, compared with gold, Bitcoin also has more advantages, such as Bitcoin is portable, infinitely divisible, and faster to pay, etc. Therefore, Bitcoin supporters will think that Bitcoin has more advantages than gold Electronic gold.
2. Decred co-founder: Bitcoin scalability is still a problem
Interpretation:
Interpretation:Whenever there is an extreme market situation, the number of unconfirmed transactions in the Bitcoin memory pool will always increase exponentially, and congestion will follow. However, the expansion scheme of Lightning Network + Segregated Witness has not played a significant role, which is the crux of Bitcoin's scalability problem. Therefore, in the foreseeable future, when the crypto bull market comes, the Bitcoin network will inevitably encounter serious congestion problems.
3. Co-founder of Morgan Creek: Bitcoin will break through $20,000 by the end of October this year
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4. [Blockchain Industry Empowerment]
1. The first "Blockchain Standardized Testing Workstation" was established in Shenzhen
According to Nanfang.com, on June 11, the 4th China Blockchain Development Competition and National Blockchain Standards and System Testing Standard Guangdong held by Shenzhen Electric Standard Testing Technology Co., Ltd. and Shenzhen Qianhai Digital Trade Technology Service Co., Ltd. The seminar was held in Qianhai, Shenzhen. At the same time, Shenzhen officially established the first "Blockchain Standardized Testing Workstation". According to reports, the workstation will actively apply for the Shenzhen blockchain standard testing public technology platform, and provide testing-related technical services based on national and international standards for blockchain products across the country.
2. Shenzhen supports blockchain and other digital economy industries, and the maximum funding for a single project is 3 million yuan
According to the Shenzhen Special Zone News, the reporter learned from the relevant application guide notice issued by the Shenzhen Bureau of Industry and Information Technology on June 8 that Shenzhen will organize and implement the 2021 Digital Economy Industry Support Plan from now on, and the maximum amount of funding for a single project can reach 3 million yuan. . The scope of funding mainly includes information technology application innovation, the Internet, big data, cloud computing, information security, blockchain, etc. Among them, in terms of blockchain, it focuses on supporting the construction of the underlying platform of blockchain, as well as its applications in finance, government affairs, education, medical care, transportation and other fields.
3. Beijing will build a list of key blockchain enterprises to develop blockchain applications in cross-border digital trade and other fields
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5. 【Industry Anecdotes】
1. A city in Alabama will pay ransom gangs nearly $300,000 in BTC
Interpretation:
Interpretation:Bitcoin is an electronic cash for peer-to-peer payment. It has strict anonymity technically, so it is used as an important payment tool for illegal transactions on the dark web. tools to mix coins, but there are still a lot of technical means that can be used to track the circulation path of bitcoins, and then lock the "dirty coins". Law. In the past, similar bridges have been staged time and time again.
2. Reddit user retrieves lost computer, which contains 553 bitcoins
Interpretation:
Interpretation:Protecting the private key of Bitcoin is to protect property. If the private key is not lost, Bitcoin will always belong to you.A safe and effective private key protection method is attached: use a second-hand mobile phone to download the decentralized wallet, write down the mnemonic and hide it, transfer to Bitcoin, and the mobile phone is disconnected from the network.
3. Ex-flight attendant faces jail in UAE for investing in cryptocurrencies and failing to repay loans
Interpretation:
Interpretation:Too many people have made fun of their failure to invest in Bitcoin, including the leader of ISIS. It is understood that in 2018, the leader of the ISIS organization was brainwashed by major media reports around the world, thinking that Bitcoin is an excellent investment product, so he invested a lot of terrorist funds into Bitcoin. Unexpectedly, he encountered a sharp drop at the end of 2018. The US$1,000 fell to US$3,000, resulting in a shortage of funds for the ISIS organization and unable to recruit normally, so it failed!
4. The Winklevoss brothers will team up with the production company Stampede Ventures to shoot the movie "Bitcoin Billionaire"
Interpretation:
Interpretation:As the global influence of cryptocurrencies continues to increase, there are more and more related film and television works. We recommend several excellent works: "Bitcoin and His Friends", "CRYPTO", "Life by Bitcoin", " I am Satoshi Nakamoto", "Put Hope on Bitcoin", "Bitcoin: The So-Called End of Money".
[Event Preview: Calendar of Cryptocurrency Industry Events Next Week]
