Industry Weekly | South Korea's "kimchi premium" plunged 60%, and crypto funds inflowed $4.5 billion in the first quarter
Ouyi OKEx Information Bureau Industry Weekly will take you to quickly review industry trends and clarify industry trends.
Table of contents:
Market overview
Institution and company dynamics
cryptocurrency market
Polkadot/DeFi dynamics
industry voice
Market overview
Ouyi OKEx Information Bureau Industry Weekly will take you to quickly review industry trends and clarify industry trends.
Table of contents:
1. Institutional and company dynamics
Market overview
Institution and company dynamics
cryptocurrency market
Polkadot/DeFi dynamics
industry voice
secondary title
Market overview
According to CoinGecko data, as of 15:00 on April 9, 2021, the total market value of the cryptocurrency market was US$2,014.9 billion, an increase of 2.63% in the past 7 days. The market panic and greed index is 74, and the grade is greedy; the USDT premium rate is 2.6%, and the average OTC price is ¥6.73.
According to OKEx data, as of 15:00 on April 9, 2021, BTC was temporarily at $58,038.3, down 2.51% in the past seven days, and OKB was temporarily at $19.149, up 9.84% in the past seven days. The long-short position ratio of the OKEx BTC contract is 1.19, and the multi-party forces have a slight advantage; the total position of the BTC contract is 2.776 billion, a decrease of 5.35% from the same day last week.
1. Institutional and company dynamics
1. Cryptocurrency fund inflows reached $4.5 billion in the first quarter
According to CoinDesk on April 7, a new report from digital asset management company CoinShares showed that investment into cryptocurrency funds rebounded from a five-month low to $106 million last week, a five-fold increase. A rebound in trading volumes last week led to a record $4.5 billion in inflows into cryptocurrency funds in the first quarter of this year, about 11% higher than in the final quarter of 2020.
[Interpretation] The amount of funds flowing into cryptocurrency funds is also closely related to market conditions. According to the data from CoinShares, it can be seen that the weekly capital inflow fluctuates greatly.
2. Meitu: Purchased about US$10 million in Bitcoin again
3. State Street plans to start trading cryptocurrencies by the middle of this year
2. Cryptocurrency market
According to CoinDesk on April 8, State Street Bank announced that State Street’s Currenex trading technology unit is partnering with London-based Pure Digital, an infrastructure provider for the foreign exchange trading community, to create an institution-focused digital currency exchange. platform. After further exploration of the digital asset space, Pure Digital and State Street expect to begin trading cryptocurrencies by mid-2021, the companies said.
[Interpretation] State Street Group, founded in 1792, is the second oldest bank in the United States. It is also one of the largest custodian banks and asset management companies in the world. Start to pay attention to and plan the cryptocurrency layout from around 2019.
4. US real estate giant Caruso Properties accepts Bitcoin as rent
According to CoinDesk on April 8, through cooperation with Gemini Exchange, California real estate giant Caruso Properties will now allow tenants of its retail and commercial properties to pay rent in Bitcoin. This makes Caruso the largest real estate management company in the United States to accept digital assets as a form of payment. Additionally, Caruso has allocated approximately 1% of its fiscal reserves to Bitcoin.
[Interpretation] If you look at the number of companies holding Bitcoin in another 5 or 10 years, it will be a very interesting data.
5. MicroStrategy bought another 253 bitcoins for $15 million
On April 5, MicroStrategy CEO Michael Saylor announced on Twitter that MicroStrategy purchased another 253 bitcoins for $15 million in cash at a unit price of $59,339. As of April 5, 2021, MicroStrategy acquired 91,579 bitcoins for $2.226 billion, at an average price of $24,311 per bitcoin.
[Interpretation] MicroStrategy is still the listed company with the largest number of bitcoins. MicroStrategy founder Michael Saylor has been named to Forbes' 2021 list as one of the cryptocurrency billionaires.
secondary title
2. Cryptocurrency market
1. Survey: 9% of American teenagers are already involved in cryptocurrency trading
According to decrypt news, a new survey data from the investment bank Piper Sandler shows that 9% of American teenagers said they have already conducted cryptocurrency transactions. About 630 of the 7,000 teens surveyed said they had traded cryptocurrencies, and of those who said they traded cryptocurrencies, 81 percent were men.
[Interpretation] From the perspective of the number and scale of retail investors in the United States, after this round of bull market, it may enter the stage where "the crypto market that should participate has already participated".
2. Data: The number of Bitcoin lightning network nodes has tripled in one year, reaching 18,960
[Interpretation] Since the birth of the Lightning Network, it has not only progressed slowly but also is full of loopholes. Although the number of Lightning Network nodes has been increasing recently, it is still a question mark how it can relieve network congestion in this round of bull market.
3. Data: BTC and ETH were the most discussed cryptocurrencies on Twitter in March
According to ICO Analytics statistics, in March 2021, the 20 most discussed cryptocurrencies on Twitter are shown in the figure.
[Interpretation] Judging from the enthusiasm of Twitter discussions, BTC is still the leading brother, while ETH is pressing harder and harder. So, is it possible for ETH to surpass BTC in this round of bull market?
4. South Korea's "kimchi premium rate" plunged 60%, or it was caused by a large amount of BTC selling
On April 7, Larry Cermak, research director of The Block, tweeted that Kimchi Premium dropped from 17% to 9% within 10 minutes, and fell by 60% in one hour. Data from Whale Alert and others show that the dip in the premium rate of kimchi may be caused by a large BTC sell-off.
【Interpretation】The kimchi premium represents the difference between the bitcoin price on Korean exchanges and the spot exchange rate on other global exchanges. The reasons for the discrepancy are complex, but are mostly attributed to trading restrictions and domestic capital controls unique to Korean exchanges.
5. Data: After a long period of selling, miners began to hoard Bitcoin
Glassnode data shows that after a prolonged sell-off, miners have once again turned on the Bitcoin hoarding savings mode.
[Interpretation] On the one hand, miners accumulate bitcoins. On the other hand, the amount of funds injected into the encryption market by institutions is also increasing. These are optimistic factors for the future of the encryption market.
1. Block Dream Fund under OKEx joins the Polkastarter Committee
4. Industry voice
On April 8th, Polkastarter officially announced that the Block Dream Fund of Ouyi OKEx has officially joined the Polkastarter committee. It is reported that members of the Polkastarter committee will participate in the selection of projects on the platform and the development of the platform itself. Its vision is to explore high-quality projects with potential in the Polkadot ecological field with the support of committee members to help the development of Polkadot ecology.
[Interpretation] The Block Dream Fund was launched by Ouyi OKEx in 2021. It is understood that Ouyi OKEx has allocated 100 million US dollars to the Block Dream Fund to reward talented entrepreneurs and outstanding entrepreneurs using blockchain technology for innovation. project.
2. Forbes’ first NFT was sold for $333,300
Forbes has sold its NFT to a bidder called "mondoir" for a high price of 333,333. The magazine’s first NFT title is “Merchants of Virtual Space,” written by Gemini founders Cameron and Tyler Winklevoss.
[Interpretation] It is understood that the proceeds from this NFT auction will be used to support the Committee to Protect Journalists and the International Women's Media Foundation.
3. The Polkadot experimental network Kusama has launched a parachain auction introduction page
According to official news, the Polkadot experimental network Kusama has officially launched the parachain auction webpage on April 7, explaining in detail what Kusama’s parachain auction is, how to participate and more frequently asked questions. Kusama's parachain auction mechanism will be divided into 5 parts: the team first uploads their parachain code and related parameters, bids can be opened during the auction, the precise time of the end of the auction is determined by VRF (Verifiable Random Function), KSM will be locked (later unlockable), and the lease can be extended through another auction when the parachain lease ends.
[Interpretation] The system parachain is about to land on the Kusama network, and the parachain auction will follow.
secondary title
4. Industry voice
1. Vitalik: Sharding is the future of Ethereum scalability
Vitalik said that sharding is the future of Ethereum scalability. It will help the Ethereum ecosystem support thousands of transactions per second and allow most people in the world to regularly use the Ethereum platform at an affordable cost. The essential. In it, he explains the specific properties that sharding provides, how sharding differs from other technologies without sharding, and the sacrifices that must be made to achieve these properties. He stated that the main goal of sharding is to replicate as much as possible the most important security properties of traditional (non-sharded) blockchains, without requiring every node to personally verify every transaction.
[Interpretation] If sharding is the future, then the current popular Leyer 2 can only be regarded as a transitional solution.
2. Ren Zeping responded to "Bitcoin hits new highs": The root cause is the flood of US dollar liquidity
According to news from the Financial Associated Press on April 6, the chief economist of Soochow Securities said at the first macro strategy report meeting of Ren Zeping's return to the capital market that the growth rate of M2 in the United States and the growth rate of broad money in the United States were the highest in 20 years. Surprisingly high. This is why the stock market has risen, the housing market has risen, commodity prices have risen, including gold, and why Bitcoin has hit new highs since last year? The fundamental reason is that we have ushered in the flood of dollar liquidity.
