What about those giant companies that have entered the encryption market with high profile?
According to data from DefiLlama, the total locked positions of DeFi have fallen below the $100 billion mark. The locked positions of top lending projects AAVA and Comp have dropped by nearly 23% within a week. The top decentralized exchange Uniswap is also close to It was down 21% for the week.
According to data from Coinmarketcap, in the past 24 hours, there have been nearly 10,550 cryptocurrencies on the market, and the total market value has decreased by 5.76%. The current global market value of cryptocurrencies is 1.3 trillion US dollars.
In the past 24 hours, the cryptocurrency market has been greatly influenced by the Chinese government. On June 22, relevant departments of the People's Bank of China interviewed ICBC, Agricultural Bank, Construction Bank, Postal Savings Bank, Industrial Bank and Alipay Network Technology Co., Ltd. on the issue of banks and payment institutions providing services for virtual currency transactions and hype. banks and payment institutions.
The relevant departments of the People's Bank of China pointed out that virtual currency transactions and speculation activities disrupt the normal order of the economy and finance, breed risks of illegal and criminal activities such as illegal cross-border transfer of assets and money laundering, and seriously violate the property safety of the people. All banks and payment institutions must strictly implement the "Notice on Preventing Bitcoin Risks" and "Announcement on Preventing Bitcoin Issuance and Financing Risks" and other regulatory regulations, earnestly perform customer identification obligations, and must not provide account opening, registration, Trading, clearing, settlement and other products and services.
That night, the banks and payment institutions participating in the interviews issued official announcements, requiring any institution or individual not to use the bank's accounts, products, services, and channels for token issuance financing and virtual currency transactions.
On the same day, the price of Bitcoin also fell below $32,000, an intraday drop of nearly 11%.
Is the cryptocurrency market only played by Chinese people? Obviously not, but at present, Chinese people still have the majority of cryptocurrency transactions.
When we are struggling to guess the market conditions, it is better to stop and look up at the pillars above our heads.
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MicroStrategy — Diehard Bitcoin Fan
Friends who often read the news may be familiar with this company. In the Chinese community, people often call it"dead long", The more you fall, the more you buy, the more you buy, the more you fall.
MicroStrategy, Chinese name"micro strategy", is a company that provides business intelligence, mobile software and cloud services, and is currently the world's largest independent BI (Business Intelligence, business intelligence) company.
And MicroStrategy's road to hoarding coins has to start from the company's CEO and"Bitcoin Faithful Disseminator"Seiler mentioned. Thaler owns about 24% of MicroStrategy, but controls 72% of the company's voting power through a class of stock that grants him additional voting rights. Beginning in the summer of 2020, his personal obsession with Bitcoin entered his corporate life, and Saylor led MicroStrategy to become the most pro-Bitcoin public company ever.
On August 11 last year, the company completed an initial purchase of 21,454 BTC at a total purchase price of $250 million (about $11,653 per bitcoin on average). This purchase was followed by the purchase of 16,796 BTC in September 2020 for $175 million (at an average price of approximately $10,419 per bitcoin). Next, on December 5, Saylor tweeted that the company had just made its third bitcoin purchase, confirming the purchase of 2,574 BTC with $50 million in cash (the average price per bitcoin was about $19,427).
Thaler announced via tweet on Dec. 21 that MicroStrategy had purchased 29,646 bitcoins, bringing the company's total holdings to 70,470 bitcoins. The acquisition was funded by a sale of convertible notes to accredited investors and raised $650 million in early December. On February 24, the company announced that it had purchased an additional 19,452 bitcoins, worth approximately $1.03 billion. After this major purchase, the company spent another $80 million on bitcoin in a series of smaller purchases.
Just on June 21, during the slump of Bitcoin encircled by the Bank of China, Seiler announced on Twitter again that MicroStrategy had purchased 13,005 Bitcoins again at a price of $489 million.
As of writing statistics, MicroStrategy currently owns 105,085 bitcoins, with a total value of more than $2.7 billion, and an average price of $26,080 per bitcoin.
Over the past year, MicroStrategy has gone from relative obscurity to a well-known force on Wall Street and the crypto market. While MicroStrategy's stock price was not spared on June 21, falling nearly 10%, the company's bitcoin business is driving shareholder returns, and employees and shareholders are happy.
According to Bai Ze, since the current Bitcoin business accounts for 95% of MicroStrategy's services, and based on the volatility of the Bitcoin market price in the second quarter, the company expects that its Bitcoin holdings will generate at least $280 million in the quarter. impairment losses, a figure that exceeds MicroStrategy's cumulative earnings since 2011.
possible"buy more"secondary title
Tesla - holding cryptocurrency
Tesla, a maker of all-electric vehicles focused on software and autonomous driving, is a cross between a car company and a technology company. The company also focuses on solar and other sustainable energy solutions. Notably, tech giants Apple, Alphabet and Amazon have also invested in autonomous driving.
What impresses me the most is not how amazing Tesla's electric car performance is, but that every time a new car is released, its promotional video is highly entertaining and futuristic.
In the first quarter of this year, Tesla announced that it had purchased $1.5 billion worth of bitcoin and included it on its balance sheet. Tesla's entry also pushed Bitcoin to an all-time high of about $65,000, making the value of Bitcoin held by Tesla more than $1.3 billion higher than when it was bought.
And as its CEO Musk declared on Twitter that Bitcoin is excessively polluted and not environmentally friendly, and does not meet Tesla’s ESG (Environmental, Social and Corporate Governance) requirements, the price of Bitcoin plummeted, but Tesla’s book profits are still Not bad, just narrowed profits.
However, neither the financial press nor Wall Street analysts have noticed certain headwinds. Tesla has adopted special accounting treatment for Bitcoin. Although the investment is generally profitable, Tesla will experience "impairment" losses in the second quarter. If the price of Bitcoin remains at its current level of around $38,000, the shock will not be large. But if Tesla wants to offset the impairment, Tesla will have to sell a lot of bitcoins, which may impact the bitcoin market. If bitcoin hit its recent lows, well below $30,000, Tesla would suffer huge losses, wiping out several quarters of profits from making and selling electric vehicles.
Daniel Ives, an analyst at Wedbush Securities, said: "Many investors would rather Musk never touched Bitcoin. The focus should be on delivery, the global wave of electric vehicles and solving the chip shortage problem. However, people are too concerned about Bitcoin now." He added that it is particularly frustrating that Musk's recent reversal of Bitcoin, which he praised a few months ago, has also hit Tesla's stock price.
According to OKlink’s data, Tesla currently holds 38,571 bitcoins, with a market value of approximately US$1.45 billion. Tesla’s official purchase cost is less than US$35,000, and it is likely to be in a floating loss.
But it has to be said that a large company like Tesla has enough influence on Bitcoin. If Tesla will continue to hold bitcoins, it will be easy for traditional capital and traditional technology companies to make money when the market recovers."Fear of Missing OUT"secondary title
Porsche - entering NFT
A Porsche supercar may be the dream of every man when he was young. But in fact, Porsche has been at the forefront of blockchain-related industries.
Porsche uses the blockchain technology to remotely lock and unlock the car, charge the car and park the car; work closely with XAIN to use the blockchain technology to provide a better driving experience. The two parties jointly proposed a business model based on encrypted data records .
Just this month, Porsche came to the crypto market again to do things.
According to data from Nonfungible, the overall sales of NFT this month have experienced a cliff-like decline compared to last month. At present, the daily trading volume has basically returned to the level at the beginning of the year, and it seems that the enthusiasm of NFT investors has gradually calmed down.
Out of the circle"Out of the circle"As well as the hotness of the market some time ago, we all have seen it. The entry of traditional large companies is also one of the reasons for the hot market.
On June 15 this year, the German sports car giant Porsche seized the NFT+IP track and launched Fanzone, an NFT collectibles platform. The platform, which is an NFT-based card trading platform, will not tokenize its luxury cars at this stage, but instead focus on football-themed NFT collectibles and will allow fans to trade cards of their favorite players .
In order to provide fans with anti-counterfeit collectibles, Fanzone has successively cooperated with the German National Football Association, German Women's Football, German Men's Football, U21 Youth Team, and other German teams, and intends to expand its cooperation with other football leagues and other sports events in the future support. At present, we can already collect genuine player cards of German women's football team, men's football team, U21 youth team and Bundesliga players on Fanzone.
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McLaren - Move the luxury car to the chain
First of all, I would like to ask you a question. Should I buy a Porsche, a Lamborghini, or a McLaren for the first car in my life?
Forget it, I still ride my bicycle honestly.
McLaren Group, headquartered in Woking, UK, gathers advanced high-tech companies, each of which contributes to the global reputation and reputation established by McLaren in cutting-edge technology in the field of Formula One World Championship sports.
In fact, when it comes to McLaren, he is no stranger to the field of cryptocurrency and blockchain. In March this year, McLaren announced that it will create official fan tokens through Bitci.
And just two days after Porsche tweeted and announced its NFT platform on June 15, the luxury car brand also announced that it would build an NFT platform. Unlike Porsche, McLaren will issue NFTs based on the history, traditions and famous drivers of McLaren racing, and can trade freely on its platform.
In the next year, I may easily own one of my own"secondary title"up.
Meitu - the first listed company in China to enter the encryption market
Most people are familiar with Meitu Xiuxiu, and many people even have this software in their mobile phones. This is not empty talk. According to online survey data, Meitu was founded in 2008 and has so far been activated on 2.08 billion unique devices worldwide. Even now, Meitu’s monthly active volume remains at 2.95 About 100 million, it can be seen that Meitu has a wide influence.
"Someone has to be the first to eat crabs." After Meitu entered the currency circle with a high profile, Cai Wensheng, the head of the company, publicly released the above sentence in the circle of friends. From this sentence, Cai Wensheng seems to have a very good chance of winning. He feels that he can grasp the cryptocurrency market and has officially become <the first listed company in China to speculate in coins>.
Just this year, Meitu purchased a large amount of cryptocurrencies in three installments. The first time was on March 7, 2021, and 379 bitcoins and 15,000 ether were purchased respectively; the second time was on March 17, 10 days later. Almost, 386 bitcoins and 16,000 bitcoins respectively; and the third time the scale was reduced, and 175 bitcoins were purchased on April 8.
The above three records of purchasing cryptocurrency have cost Meitu a total of 100 million U.S. dollars. It can be seen that Meitu’s investment this time is a little bit desperate, so has Meitu tasted this “crab” as it wished?
After Meitu entered the cryptocurrency market, it just happened to catch up with the busiest time in the market. On April 13 this year, the cryptocurrency market was particularly good, and Bitcoin even rose to $63,000! Meitu also happened to be on this express train, and easily realized its vision of a floating profit of 100 million yuan.
However, as everyone knows, this market is not stable and fluctuates greatly. The ban issued by the State Council of China on May 19 made this day the most extreme in the history of cryptocurrencies."dark"day. Of course, Meitu was not immune either. On the same day, the cryptocurrency held by Meitu suffered a daily loss of 127 million yuan.
It is somewhat difficult for Meitu to swallow this "crab".
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Paypal - Bringing Cryptocurrency to Mainstream Wallets
Founded in 1998, PayPal is an international trade payment tool that is highly sought after by hundreds of millions of users around the world. It offers instant payment, instant transfer, and a full Chinese operation interface. It can easily withdraw cash through local banks in China and solve the problem of foreign trade collection. It is affectionately called American Alipay by domestic people"Paypal"。
In March of this year, the online payment platform PayPal announced that it would acquire Curv, a cryptocurrency security storage technology company, to accelerate and expand its plans for cryptocurrencies and digital assets. And it has also fulfilled the promise at the time of the announcement, and it is now possible to trade, withdraw, and store cryptocurrencies.
PayPal has been ramping up its investments in crypto, and in March, the payments giant agreed to acquire Curv, a startup that helps customers securely store digital tokens, for nearly $200 million. PayPal has established a new business unit focused on blockchain, which Curv will join. As the saying goes, if you don’t have diamonds, don’t do porcelain work. This business launched by Venmo has a high technical threshold. PayPal's move is a milestone and the most critical step in ensuring that customers have an unimpeded path to digital currencies. PayPal Inc. on Tuesday will begin allowing customers using its Venmo app to buy, sell and hold cryptocurrencies, as consumers increasingly look for ways to gain access to digital assets. The company will make the app available to all of its more than 70 million users in the coming weeks. This could be a major step in bringing cryptocurrencies into the mainstream, a milestone. Subsequently, PayPal began to allow users to use their digital cryptocurrencies to pay at millions of online merchants around the world. With more than 70 million users, Venmo is one of the most popular digital payment services in the United States. PayPal's goal is to provide customers with an easy-to-use platform, simplify the process of buying and selling digital cryptocurrencies, and continue to solve some common problems, misunderstandings and problems that consumers may have. After adding the ability to buy, sell and hold cryptocurrencies to its PayPal app, customers using the feature started logging into the app twice as fast as before.
For merchants, the biggest advantage of incorporating cryptocurrencies into the PayPal network is to increase the speed of transaction settlement. While credit card and bank payments typically take 24 hours or more to settle, cryptocurrencies can settle transactions in seconds or minutes, allowing merchants to access funds faster.
PayPal recently stated that it is investing heavily in a business segment dedicated to cryptocurrencies, and they plan to include cryptocurrencies in PayPal's payment system by the end of 2021. There are currently 29 million merchants using PayPal, which means they will be able to accept cryptocurrency payments through the network. In order to make transactions more convenient, PayPal will automatically convert cryptocurrency to legal tender.
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