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Demystifying Circle’s Eight-Year Growth Story: Many Transformations, Finally Seeking Mission USDC (www.blockcast.cc)

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How many people will have exposure to Bitcoin by 2025? (www.blockcast.cc)

With Bitcoin surging to hit a new ATH recently, many have an opinion about how high the world’s largest cryptocurrency might go. Bitcoin is not simply a digital currency. In fact, many argue that Bitcoin can reshape the world economy via a substantial revamp in the existing monetary system.

Willy Woo is one such proponent, with the analyst recently appearing on the Unchained podcast to say, “We all are witnessing the birth of a new monetary system.” He added,

“This destruction of fiat currency as Bitcoin starts to suck in that monetary base. I think what we’re witnessing here is the birth of a new monetary base — which is no longer based on fiat, it’s based on consensus agreement that this has value, and this thing is a value that can be stored online and digitally moved across borders within seconds. “

According to Woo,

“It’s [Bitcoin] a new internet-age monetary standard. And it’s one that is going to keep up with the world’s needs into this digital age.”

Peter Brandt too seconded his view on the same, as seen from his tweet regarding the devaluation of the purchasing power of the U.S Dollar.

Woo went on to say that since the creation of Bitcoin, the adoption of cryptocurrencies by the public has kept growing as we are “currently just barely above the two percent of the world having exposure to Bitcoin… most people are holding it to get exposure.”

This trend has evolved for 11 years, non-stop, doubling every 12 months. Based on his calculations, “that puts us at 4%, then 8%, and so forth. Furthermore, he argued that “we are currently on track for 1 billion people having exposure to Bitcoin as an asset class in the next four years. So by 2025, one-eighth of the world population will have exposure to this monetary base.”

In recent years, many supporters including large institutions have joined the race to adopt Bitcoin as an “alternative asset,” something that has only underlined the cryptocurrency’s credentials.

The interview also shed some light on the ‘most-asked question’ about Bitcoin – What kind of volatility do we see five years from now, ten years from now?

Willy Woo was quick to answer this question. He replied,

“…..following a typical trend,an 80% pullback. $300,000 plus 80% pullback kind of brings us down into the $1 trillion range. And I can see right now the price discovery of Bitcoin is very, very strong in this zone, around $1 trillion.”

In fact, Woo was positive about the volatility drift over the past few bull market runs. He said,

“I think, actually, you know, like we’re due to start to drop down into the lower volatility range that well, I don’t have the charts right off of hands, but I think it will surprise a lot of people how low the volatility can drop. And beyond a certain size of capital base volatility drops to zero because it becomes the new monetary base.”


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[Aim Rich Investment Strategy] Tomorrow Bitcoin Option Expiration… Please note that there are many outstanding items (www.blockcast.cc)

Aim Rich Cryptocurrency Investment Information (2021.2.25)
<Figure 1=Market trend score as of 14:00 on the 25th (100 points, left)/Market rise/fall intensity (right)/Data=Aim Rich Financial Engineering Research Institute>

◆Cryptocurrency market conditions <weak>

The cryptocurrency market, which had been stabilizing at the $50,000 range, is again experiencing increased volatility ahead of the expiration date of the Bitcoin option at the end of the month. Delibit (DRBT), due on the 26th, is expected to liquidate about 58.8K BTC, the second largest volume this year following the liquidation of 75.6K BTC on the end of the quarter, which is scheduled for the end of March. Bitcoin (BTC), the number one cryptocurrency market capitalization, which started strong, has gradually declined after 10:30 a.m. as sales have surged, and are currently trading at around $50,000, and altcoins, which are not strong in the buying trend, have mostly turned down. State.

Last night, the US New York stock market ended higher with expectations of stimulus packages, Powell’s remarks to allow inflation, and the House of Representatives’ policy to deal with economic stimulus on the 26th, despite the weakness in Asia caused by China’s deleveraging issue. On the 24th (local time), the Dow index rose 1.35%, the S&P 500 index rose 1.14%, and the Nasdaq index rose 0.99%.

As of 14:00 on the 25th, the Bitcoin market cap base bitcoin price is $31,745.60, the 24-hour trading volume is about $59.3 billion, and the market cap is about $924.8 billion. The total cryptocurrency market cap is $1.505.9 billion, and the market cap share of Bitcoin is 61.7%.

The total cryptocurrency market cap increased 0.23% compared to the previous day, and the market cap excluding bitcoin decreased by 0.84% ​​compared to the previous day, making Bitcoin stronger than Altcoin, and the market cap of Bitcoin increased 0.88% compared to the previous day. The market share increased by 0.65% compared to the previous day, which means that the number of altcoins declined compared to Bitcoin as a whole.

<Figure 2=Status of Real-Time Cryptocurrency Market/Data=Aim Rich Financial Engineering Research Institute>

On the other hand, according to the Weiss Crypto Index, the market that rose strongly after the opening formed a peak at around 10:30 and declined, and turned downward after 12:30. Selling on mid-sized stocks was strengthening overall. Was analyzed to be relatively strong. W50, a cryptocurrency market index including bitcoin, is -0.65%, W50X, a cryptocurrency market index excluding bitcoin, is -1.21%, WLC, a large stock-oriented index, -0.46%, and WMC, a medium-sized stock-oriented index. WSC, an index centered on -0.79% small stocks, recorded -0.26%.

<Figure 3=Longs/Shorts cumulative trading volume ratio of major exchanges in the past 24 hours/Data=Aim Rich Financial Engineering Research Institute>
<Table 1 = Longs/Shorts trading volume ratio of major exchanges as of 14:00 on the 25th/Data = Aim Rich Financial Engineering Research Institute>

As of 14 o’clock on the 25th, the ratio of buy:sell cumulative transaction volume in the last 24 hours was 52%:48%, which showed a high sell ratio, and as of 14 o’clock, the long/short ratio of each exchange was analyzed to be strong on average. . (Refer to Table 1)

At the same time, the basis of bitcoin futures on the cryptocurrency derivatives exchange BitMEX was around -40.0, and the basis of backwardation and Ethereum futures was maintained at around 2.45. The price of bitcoin futures on the Chicago Merchandise Exchange (CME) is rising. March futures traded at $50,450.0, up $1315.0 (+2.68%) from the previous day.

◆Main cryptocurrency prices <weak>

As of 14:00 on the 25th, the domestic bitcoin (BTC) price rose 1.13% from the previous day to 5,7128,000 won, Ethereum (ETH) fell 0.84% ​​to 1.38 million won, and Polkadot (DOT) fell 1.08% to 39,300 won. Recorded. Ripple (XRP) rose 0.19% from the previous day to 534 won, Bitcoin Cash (BCH) rose 0.07% to 599,000 won, Ada (ADA) fell 1.26% to 1,180 won, Stella Lumen (XLM) rose 0.43% to 464 won. , Chainlink (LINK) is trading at 30,670 won, down 4.13% from the previous day, and Litecoin (LTC) is trading at 205,000 won, down 0.46%.

<Figure 4=Upbit BTC/KRW Daily Chart/Data=Trading View>
<Figure 5=Top 10 Coin Price (As of February 25, 14:00)/Image=Coin Market Cap>

At the same time, the global cryptocurrency market price based on CoinMarket Cap is falling 9 out of the top 10 market caps as of the last 24 hours. The international Bitcoin (BTC) price is $49,698.41, down 2.50% from the same time the day before. Ethereum (ETH) fell 2.51% to $1,599.25, while Binance Coin (BNB) fell 0.90% to $246.36. Cardano (ADA) rose 1.83% to $1.83, Polkadot (DOT) fell 7.91% to $33.08, Ripple (XRP) fell 5.76% to $0.4697, Litecoin (LTC) fell 3.04% to $178.87, Chainlink LINK) fell 4.09% to $27.12, while Bitcoin Cash (BCH) fell 3.81% to $526.30.

◆ Analysis of major media and market experts <strong>

Bitcoin’s volatility has been stagnating at the $50,000 level since its extreme expansion. It is still below the 10-hour and 50-hour moving average lines, so it can be seen that the downward momentum is continuing technically. However, it is positive that it deviated from the existing view of a sharp decline. In addition, many experts are in the mood to accept short-term price adjustments as necessary for further gains, and have shown no negative views. It is also worth referring to the view that we need to look at the OTC tether price in order to confirm the demand for bitcoin in China.

(Positive opinion)

① Tom Lee, founder and chief analyst at Fundstrat Global Advisors, a US investment research firm, said, “Trice adjustment is the history and DNA of assets like Bitcoin. Getting a 40-50% price adjustment is amazing. “It’s not a job,” he said. “This adjustment will not affect the fair value of Bitcoin. Bitcoin will go up to $100,000.” He advised, “At the current price point below the previous high (ATH) of $58,000, now is the ideal time to buy Bitcoin.”

② Blockstream CEO Adam Back said, “The part that investors should be aware of if they want to sell Bitcoin under 50,000 dollars is that Square’s additional purchase price of BTC is between 51,000 and 58,000 dollars.” I advised this.

③Cryptocurrency Media Cointelegraph quoted the analysis of CrossTower, a virtual asset trading platform for institutional investors, and predicted that “the buying trend of institutional investors will not let Bitcoin fall below 50,000 dollars.”

④ ARK Invest’s Chief Executive Officer Cash Wood said he was very positive about Bitcoin, despite its recent sharp price adjustment. In an interview with Bloomberg Asia TV, Wood said he is “very positive about Bitcoin.” He also pointed to the falling bitcoin price as a “healthy correction,” adding that there is no market that continues to rise in a straight line, and that everyone knows this.

⑤ Michael Sailor, CEO of NASDAQ-listed MicroStrategy (MSTR), still expressed his intention to advocate Bitcoin. In a recent interview, he predicted, “BTC is a means of saving rather than a means of consumption. By 2026, BTC will be chosen as a means of saving by about 1 billion people.”

⑥ An anonymous trader known as’Byzantine General’ commented that “current bitcoin is on a short-term decline,” and “this is a healthy trend.” If bitcoin fell due to certain phenomena such as the’Black Swan’ news, it could be considered a worrisome situation, but there is currently a relatively large buy order, so I predicted that there will be no further decline. He also warned, “It is important that BTC defends the $45,000 line and does not enter the’Bear Zone’. If it falls below that, it will undergo a deeper and longer-term adjustment.”

(Neutral opinion)

① Coinnis special analyst’JIn’s Crypto’ said, “Bitcoin rebounded after hitting the bottom of $44,918, but the number of newly introduced investors is not large. There are still several variables as there is a fluctuation of 17% based on the daily chart.” Was diagnosed. He said, “The number of active Bitcoin addresses on the 23rd did not increase significantly to 1.05 million. The number of new addresses increased only 20,000 from 510,000 on the 22nd to 530,000 on the 23rd. Even though BTC fell significantly during this period, investors who started trading It suggests that there were not that many. It was analyzed as “different from the previous courts.” He added, “If you look at the transaction volume, the largest transaction volume ever occurred after the short-term decline in BTC. This means that short-term hand changes frequently occurred, we can predict that the purchase price of new investors is concentrated around $50,000.”

② Analyst Aayush Jindal said, “If the BTC/USD pair fails to cross the bearish trend line ($51,200 line) and the $51,800 resistance, it will go down again, threatening the $48,000 and $45,000 support lines. If it collapses, it could plunge by an additional 8-10% and sink to the $40,000 support line.” However, he analyzed, “If the BTC/USD pair exceeds the strong resistance levels of $51,800 and $52,000, it is likely to rise to $55,000 in the short term.”

◆Comprehensive Analysis of Bitcoin Market Price <Strengthening>

Bitcoin’s daily market price (see Figure 6), which started out strong, is falling behind the previous day without exceeding the high price. While the buying trend for bitcoin has been inflow from time to time and is controlling the rate of decline, altcoins are not, so most of the stocks are already weak.

Looking at the on-chain transaction volume indicator in Figure 14, it can be seen that the total number of sales is higher than the total number of purchases, and the transaction volume (refer to the indicator in Figure 13-1) has also decreased, indicating that the current selling trend is strong. However, if you look at Index 14-2, since the downside volatility index reached a peak for two days in a row, the market price on the day is highly likely to attempt a strong rebound from the low, and before heading to the previous high for the day, it is predicted that a severe selling market will emerge sooner or later. do. Therefore, mid- to long-term investors will need to maintain a buy perspective, while short-term investors will need to make one profit after purchasing the bottom, and wait for another opportunity to buy.

On the other hand, today is also the expiration date of daily options for Bitcoin and Ethereum on the DRBT exchange. As a result of the simulation based on 14 o’clock, the same-day payment price is expected to be about $49,300 and $1,570, respectively. This price is near the important price on the day and near the moving average on the 20th, so if support is confirmed near this price, it can be a good turnaround point, so it would be good to buy aggressively. For reference, the important price for the day of Binance ETHUSDT under the Quant program was calculated at $1,613.

<Figure 6=BTC/USDT (Binance) Daily Price (Based on 14:00 on the 25th)/Chart=Trading View>
<Figure 7=Deribit (DRBT) BTC Option Simulation Results of Expected Water Settlement Price on February 25 (at 14:00)/Data=Aim Rich Financial Engineering Research Institute>

The price of Binance BTC/USDT, which was calculated by the institute’s quant program, is $49,346 (pink line). The current market price is above $46,346 and the market price of the day, but it has not exceeded the high price of the previous day and has been pushed back, so the purchase should be withheld until market support, a breakthrough of the previous day’s high price, or similar significant market changes are observed. First, the buying conditions are: 1) market price support 2) high price breakthrough the previous day 3) USD 49,346, support for the 20th moving average. However, if you break the market price, you’ll have to wait until you see a rebound around at least $49,346. For more detailed analysis based on market data, see ‘7. Please refer to the’Quantitative Analysis’ section.

◆Technical Analysis <Strengthening>

As of 14 o’clock on the 25th, the technical analysis of the daily price movement of Bitcoin on Upbit, a domestic cryptocurrency exchange, and Binance, a foreign exchange, were found to be’Buy’ and’Active Buy’, respectively. Looking at the detailed evaluation items, Upbit came out with five’buy’ and one’sell’ and two’neutral’ opinions and’buy’ opinions among the oscillator indicators, and the moving average indicators were eight’buy’ and four. It was summarized as a’buy’ opinion as a suggestion’sell’.

<Figure 8=Upbit: BTC/KRW (Daily) Technical Analysis Summary Table/Data=Investing.com>

If you look at the detailed items of Binance, among the oscillator indicators,’Buy’ is 6,’Sell’ is 0, and’Neutral’ is 2, signaling’active buy’, and the moving average indicator is’Buy’ is 8, ‘Sell’ was summarized as’Buy’ with four.

<Figure 9=Binance: BTC/USDT (Daily) Technical Analysis Summary Table/Data=Investing.com>

◆Quantitative analysis

◇Crypto Fear & Greed Index <Strengthening>

The’Fear and Greed Index’ provided by the cryptocurrency data provider Alternative.me was 79 points, up 3 points from the previous day, maintaining the’extreme greed level’ as the previous day. This indicates that investor sentiment is still extremely overheated. The index closer to 0 indicates extreme fear in the market, and closer to 100 indicates extreme optimism.

<Figure 10=Crypto Fear and Greed Index/Data=Alternative.Me>

◇Comparison of return by asset compared to the beginning of the year (%) (As of February 25, 14:00) <Weakness>

Bitcoin price has been heavily adjusted. As of 14 o’clock on the 25th, the US CME Bitcoin futures’ return to the beginning of the year fell 15.67% from last Tuesday to 54.60%, but it still maintains the number one valuation asset class. Second place is oil futures, up 3.19%. Despite an increase of 1.29 million barrels of crude oil in the US weekly, oil prices soared 2.5% as concerns over supply and demand increased due to the shutdown of crude oil drilling facilities in Texas. There are also institutions that predict $100 by the end of the year. While US Treasury yields continued to rise, gold ended lower than the previous day.

<Table 2=Status of increase/decrease in return by asset category/Data=Chicago Commercial Exchange, USA>
<Figure 11=Year-to-Year Return by Asset Category/Data=Trading View>

◇Comparison of yield by cryptocurrency compared to the beginning of the year (%) (as of February 25, 14:00) <weak>

As Bitcoin plummeted, most cryptocurrency prices faced a significant decline in returns. However, Binance Coin (BNB), Cardano (ADA), and Polkadot (DOT), which are rapidly rising recently, rebounded immediately after a sharp decline, widening the gap in yield from other coins. Ripple (XRP), which plunged to $0.35 on the news of their propaganda and the SEC’s litigation, and the suspension of partnership with the global remittance company MoneyGram, rose sharply due to the influx of low-priced buying the previous day, but some broke through $0.55. There are also opinions that an additional buying trend will inflow due to the expectation of a dollar increase.

As of 14:00 on the 25th, Binance Coin (BNB) ranked first with 576.39%, Cardano (ADA) ranked second with 492.11%, Polkadot (DOT) ranked third with 315.11%, and Chainlink (LINK) ranked 137.11% And Ethereum (ETH) ranked 5th with 124.22%.

<Figure 12=Ranking of the top 10 cryptocurrencies in market cap compared to the beginning of the year/Data=Trading View>

◇Bitcoin on-chain indicator analysis

① Analysis of Bitcoin transaction volume on the day <Neutral>

Analyzing the transaction volume of BTC/USD’s on-chain data on the same day makes it easy to check the direction of the bitcoin market and respond to it. Index 1 in Figure 13 shows the spot trading volume of BTCUSD, BTCUSD or BTCUSDC on 10 major exchanges (Binance, Bitfinex, PoloniX, Bitex, Coinbase, Bitstamp, Kraken, HitbittyC, Gemini), Indicator 2 shows the trading volume of BTCUSD or XBTUSD indefinite futures on 7 derivatives exchanges (Binance Futures, OKX Futures, OKX Futures, Huobi Futures, FTX Futures, Kraken Futures, Delibit, BitMEX) in real time. Sum up and display.

<Figure 13=Comparison of total BTC spot trading volume and total BTC derivatives trading volume on major exchanges/Data=Aim Rich Financial Engineering Research Institute>

Bitcoin, which surpassed 50,000 dollars the previous day, is not being pushed back much, but is reducing the trading volume at the peak and digesting the sale. In indicator 1 of Figure 13, it can be seen that the spot transaction volume has decreased compared to the previous day, and in the derivatives transaction volume indicator 2, it can be seen that the trend is maintaining a normal decline. This is evidence that the uptrend has not changed.

<Figure 14=Comparison of total daily BTC purchases and total sales of major exchanges/Data=Aim Rich Financial Engineering Research Institute>

In addition, looking at the indicators in Figure 14, it can be seen that the total quantity sold is higher than the total quantity bought. Nevertheless, since the price has not been pushed much from the peak, it can be understood that Bitcoin is currently in the process of digesting the sale. However, if the price volatility of the previous day was in the upward direction, it is expected to turn downward today and sell intraday. Today is also the option expiration date, and the expected settlement price was calculated at around $51,300, below the current price of $52,169 at 14:00. Even if it is not this sharp drop, there may be one drop during the day, so it would be a good idea to use this as a buying opportunity.

② Bitcoin price and Korea premium index trend analysis <Neutral>

Although the kimchi premium index is still above ‘0’, the price of bitcoin and Ethereum has truly entered a phase, so from a mid- to long-term buying point of view, it is not a situation of concern. However, since the interval between each stock and the index is close and the index is more than ‘0’, it seems necessary to observe periodic crossover.

<Figure 15=Bitcoin Price and Bitcoin Kimchi Premium Index Trend Comparison/Data=CryptoQuant>
<Figure 16=Comparison of Ethereum Price and Bitcoin Kimchi Premium Index Trends/Data=Cryptoquant>

<Neutral> On the other hand, coinbase premium index (Coinbase Pro (USD)) minus Binance (USDT) price provided by CryptoQuant, an on-chain data analytics company. (Meaning that this is strong), it can be seen that the index rebounded after hitting the lowest level when the highest price of the previous day was recorded.

As the bitcoin price rebounds, the coinbase premium index is finding stability above ‘0’, and there is a movement to turn to a slight weakness during the intraday. It is difficult to say that the previous trend has been completely recovered, as the index trend must be maintained above ‘0’.

<Figure 17=Bitcoin Price and Coinbase Premium Index Trend Comparison/Data=CryptoQuant>

Figure 18 shows the trend of bitcoin balances held by major exchanges. Just before the plunge, you can see that the balance has increased sharply, which appears to have been deposited to the exchange to dispose of bitcoins held in external wallets. The problem is that at this time, the increased quantity has not yet been used up, and it is possible to reasonably estimate that if this quantity is not digested, it is difficult for Bitcoin to rise. Therefore, it can be seen that the timing of the Bitcoin rise in the future depends on the inflow of the buying tax to receive the selling volume.

<Figure 18=Bitcoin Price and Bitcoin Balance Trends in Major Exchanges/Data=CryptoQuant>

◇Analysis of the share of non-settled bitcoin options on the day <weak>

As a result of analyzing the percentage of outstanding contracts aggregated from the bitcoin options issued by major cryptocurrency exchanges (Deribit, OKEx, Bit.com) (see Figure 18), the percentage of rising positions is 6.76% at 10 o’clock based on the number of contracts. As of 14:00, it slightly increased to 29.68%, but the rising premium portion increased from 65.45% to 28.72% of the falling premium, and it was analyzed that the price of bitcoin will continue to weaken in the afternoon.

<Figure 18=Analysis of non-payment agreements for bitcoin options at major exchanges as of 10:00 (upper) and 14:00 (lower) on the 25th = Data/Data = Aim Rich Financial Engineering Research Institute>

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A Bitcoin meme movement: Why did Musk and many other celebrities change their “laser eyes” portraits? (www.blockcast.cc)

With the evolution of meme, laser eyes have become inseparable from Bitcoin.

Original title: “Why did Musk, SEC congressmen and many other big Vs have changed their “laser eyes” portraits? 》
Author: Block Rhythm

Since Tesla CEO Elon Musk (Elon Musk) supported Bitcoin by his real name, he has had another identity as a Bitcoin evangelist. On February 20th, Elon Musk suddenly turned his avatar into a girl with “laser eyes” with a bitcoin pattern in the background.

This avatar was originally an image used by Musk on Twitter. The focus is not on the Bitcoin logo, but on the red “laser eyes”. If you search for the topic “#LaserRayUntil100K” on Twitter, you will It was found that under the leadership of Musk, Twitter was already a sea of ​​laser eyes.

MicroStrategy CEO Michael Saylor, CoinShares CSO Meltem Demirors, and even US Senator Cynthia Lummis (Cythia Lummis) have all become participants in this event.

A Bitcoin meme movement: Why did Musk and many other celebrities change their "laser eyes" portraits?Tesla CEO Elon Musk Twitter profile

A Bitcoin meme movement: Why did Musk and many other celebrities change their "laser eyes" portraits?U.S. Senator Cythia Lummis’ Twitter profile picture

Laser Eye and Bitcoin

So what does the laser eye express?

Neeraj Agrawal, communications director at Coin Center, a cryptocurrency think tank, said: “Laser eyes are meant to convey activation and increasing power levels.” “Think about when the eyes of the characters in the movie shine.”

According to the introduction of the website Know Your Meme (Rhythm Note: Know Your Meme is a website and video series that uses Wiki software to record and explain various Internet memes and other popular phenomena.) Since the release of the electronic game Mass Effect 2 in 2010, People with glowing eyes are widely used in the form of meme. In the game, when enemies are controlled by another entity, their eyes will glow yellow. Then people used PS technology to add the title “Controlled” to this type of picture, and a meme was born.

A Bitcoin meme movement: Why did Musk and many other celebrities change their "laser eyes" portraits?

If you want to generate your own laser eye, click here .

With the evolution of meme, laser eyes have become inseparable from Bitcoin.

On Twitter, many Bitcoin evangelists persistently promote Bitcoin. As the price of Bitcoin continues to rise, on February 15th, encrypted podcast anchor Greg Zaj launched a “#LaserRayUntil100K” campaign on Twitter, aiming to wait for Bitcoin to break through the $100,000 mark.

The tweets on this topic all use the “laser eye” as the picture. It seems to indicate that he has been “multi-level marketing” and “control”, and I deeply believe that Bitcoin will hit the $100,000 mark.

A Bitcoin meme movement: Why did Musk and many other celebrities change their "laser eyes" portraits?#LaserRayUntil100K Twitter netizens’ posts under the topic

As Bitcoin broke through $56,000, this event also attracted attention from all parties. Rhythm BlockBeats counted some celebrities who participated in this event, including KOLs in the encryption field, financial industry elites, and many politicians.

  • Tesla CEO: Elon Musk
  • MicroStrategy CEO: Michael Saylor
  • CEO of CoinShares: Meltem Demirors
  • CSO of Blockstream: Samson Mow
  • SEC Member: Cythia Lummis
  • Bankless founder: David Hoffman
  • Gemin founder Winklevoss brother
  • Bitcoin Core Developer: Jimmy Song
  • Well-known American economic analyst: PrestonPysh
  • Famous computer scientist, cryptographer, “Bit Gold” inventor: Nick Szabo
  • Well-known derivatives trader and podcast anchor: Tone Vays

When the Quadriga crypto exchange in Canada went bankrupt, Magdalena Gronowska, an inspector who helped establish the 3iQ Bitcoin Fund, said: “#LaserRayUntil100K is a gathering of Bitcoin makers to celebrate the 100,000 in our eyes.” As for whether she will always keep her Twitter profile picture. “Laser Eyes” until the price of Bitcoin rose to $100,000, she said, “It will last for several months.”

So how long is Bitcoin from $100,000?

Since January of this year, Bitcoin has been all the way to a new high, rising from 29,000 USD at the beginning of the year to 56,000 USD, an increase of 93%. The enthusiasm of institutions for Bitcoin investment does not seem to have diminished.

Since February this year, in addition to Tesla founder Musk, more celebrities have expressed their views on Bitcoin. BlackRock CEO Larry Fink, Bridgewater Fund founder Ray Dalio, Meituan founder Wang Xing and other figures who have significant influence on the business world have all expressed new opinions in recent times.

On February 18th, Microsoft co-founder Bill Gates once again talked about his views on Bitcoin and other cryptocurrencies in CNBC’s Squawk Box: “I’m already neutral on Bitcoin.” And in 2018 In 1988, Bill Gates also called Bitcoin “an investment of the “big fool theory” type.”

On the same day, perhaps due to the impact of ARK Investment’s Bitcoin research report, Dan Bin, chairman of Shenzhen Orient Harbor Investment Management Co., Ltd., stated on Weibo, “I have purchased 1% of Bitcoin ETF funds. Although it is a bit late, Practice it if you figure it out! I hope to keep my curiosity about new things!”

On February 19, MicroStrategy once again revealed that it had raised $1.05 billion in funds for Bitcoin investment through the sale of convertible bonds.

Although the industry generally believed that the promoters of this bull market came from institutional investors. However, as the interest in Bitcoin continues to increase from all walks of life, the enthusiasm of retail investors to enter the market has also been continuously pushed up. Bitcoin, which was once a target well known to the geek niche circle, is entering a more mainstream and broad group vision.

The data on the chain shows that Bitcoin miners have been sold successively before, which also means that the influence of miners on the market outlook will gradually decrease. If there is no black swan event, the bull market is expected to continue, and the price increase of mainstream currencies may be achieved in a short time. But as mentioned above, the massive entry of institutions has also brought uncertainty and risk to the crypto market.

You know, because of the high degree of freedom, the crypto market can burst or plummet within a day. After all, the “3.12” incident is a lesson for the past. Once the organization ships, it may bring more serious conditions to the crypto market. Investors must also exercise caution, and do not blindly chase high.

Disclaimer: As a blockchain information platform, the articles published on this site only represent the author’s personal views, and have nothing to do with ChainNews’ position. The information, opinions, etc. in the article are for reference only and are not intended as or regarded as actual investment advice.

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The biggest risk factor for many projects in 2021: the inevitable SEC regulation (www.blockcast.cc)

On December 29, the long-heard news in the market finally settled. Coinbase officially announced that it will suspend XRP trading from January 20, 2021.

So far, under the SEC (Securities and Exchange Commission) wielding a big stick, mainstream trading platforms such as Coinbase, Bitstamp, and Binance US have successively announced that they will delist XRP trading. XRP seems to be entering a difficult time.

01XRP, which was targeted by the SEC, is being removed

The domino effect is still going on. All these storms started on December 22, when the SEC sued Ripple and its executives for violating the securities law-illegally issuing securities.

Since 2013, more than 14.6 billion Ripple coins worth $1.38 billion have been sold in unregistered offerings, but they have not been registered with the SEC. Although it has not yet entered the litigation stage, the SEC’s investigation is definitely negative for the market, and Ripple also reacted strongly to this.

It issued a statement against the U.S. Securities and Exchange Commission (SEC) in its lawsuit, stating that it will respond within a few weeks to resolve the unsubstantiated allegations: it will defend itself in court to ultimately make the U.S. cryptocurrency industry better Clear.

This SEC’s action is not only related to Ripple, but also an attack on the entire encryption industry in the United States. It has affected countless XRP retail holders who have no contact with the company and brought more uncertainties to the market.

Even if the SEC sues Ripple for illegally selling XRP and profiting its first pre-trial meeting will be held on February 22, 2021, the incident is still fermenting, and Coinbase has even been subject to a class action lawsuit by customers for “illegal” sales of XRP.

It is also affected by this that mainstream trading platforms such as Coinbase, Bitstamp, and Binance US have successively announced that they will delist XRP trading. Bitwise Asset Management’s Bitwise 10 Encrypted Index Fund and other encrypted assets management, the company has also Liquidate its XRP position.

In the future, if the “war” between the SEC and Ripple continues, more trading platforms will inevitably delist XRP. Therefore, at the secondary market level, XRP has fallen all the way from its previous high, and once fell below $0.2, a posture that the general trend is gone. .

So, after being targeted by the SEC, is there really no solution?

02 XRP is not the first, and it is destined not to be the last

In fact, among many digital currency projects, XRP is not the first to be targeted by the SEC, and it is destined not to be the last.

The most familiar thing is undoubtedly the EOS incident last year, but it was also targeted by the SEC, but unlike the terrible situation where XRP was eventually delisted by many trading platforms, EOS adopted a very flexible approach to deal with the problem. It was subdued before large-scale fermentation.

On September 23, 2019, the SEC and Block.one reached a settlement. Block.one agreed to pay a civil penalty of US$24 million (the fine accounted for 0.58% of its total Token financing) to settle the unregistered SEC. The accusation of Token financing issuance also granted it important immunity from future business.

This not only means that Block.one and EOS have come to a successful end on the road to compliance, the overhanging policy “Sword of Damocles” has also been temporarily lifted, and it has also been trapped from another perspective. Projects similar to the allegations of dilemma provide ideas-a positive attitude and clear penalties.

Tezos made another confirmation on this. On March 23, 2020, Tezos announced that after a two-year court battle, it chose to settle the litigation issues facing US$20 million.

As the first in history and the largest public Token financing project before EOS, Tezos passed the sensational first Token financing issuance in the fall of 2017, and achieved $232 million in revenue.

“The SEC will be very short of money next year (2020).” EOS and Tezos’s “spending money to buy safety” seems to have also proved the SEC’s law enforcement thinking-the historical financing of the project party, and there are legal regulatory handles. There is a consensus on the market.

As long as you make more shots, you can hit a hit, and once you choose a shot, it must be a well-known (rich) project that can be heavily punished. Therefore, Ripple, which “founder sells Token to become the richest man”, seems to be targeted by logic that makes sense.

From this perspective, it seems that there are not too many projects on the market that satisfy both “problematic + rich” projects. Who will become the next hunting target of the SEC?

Just recently, the SEC issued an asset freeze order to the crypto hedge fund Virgil Capital, accusing Qin, the founder of the fund, of misleading investors by investing their money in an encrypted trading algorithm that benefits from price differences between trading platforms. Advantageously, this trading algorithm is used in RenVM “dark node” network fragmentation to process cross-chain transaction orders.

Under the swing of the SEC stick, more project parties are destined to be targeted in 2021, and it is also destined that many “Zhou Yu hits the yellow cover” scene will be repeated.

03″Supervision” Blockchain

However, Tether is undoubtedly an “old predecessor” with rich experience and “good track record” when it comes to engaging in a “tug-of-war” with supervision.

As “one of the largest gray rhinos in the crypto world,” Tether received a subpoena from the US Commodity Futures Trading Commission (CFTC) in 2017, but it did not stop issuing new USDT.

Later, the New York Attorney General’s Office (NYAG) came up with the actual investigation results, saying that Bitfinex used Tether to provide loans for itself to cover up its $850 million financial loopholes, but USDT is still “additional issuance, additional issuance, and additional issuance.”

Even after encountering the crisis of confidence that “short positions were cut” on October 15, 2018, USDT still survived with the attitude of “large to fail”, and even crazy additional issuance in 2020, further bound to the depth of the market .

On December 30, the CEO of encrypted data website CryptoQuant stated that if the next target of the SEC is Tether, it will deal a serious blow to the current bull market.

The current market relies heavily on USDT. In this context, the recent fire of algorithmic stablecoins seems to provide another way of thinking:

Stablecoins with mortgage-anchored models like USDT still rely on centralized issuers (even the second-generation stablecoin DAI has to sacrifice decentralization to a certain extent and introduce centralized assets into mortgage assets to ensure stability Sex).

This is doomed to its vulnerability in the face of supervision. For the decentralized encrypted market, stablecoins that can be “supervised” to a certain extent have gradually become rigidly needed.

Compared with the traditional USDT, USDC, DAI and other different types of stablecoins, the biggest difference between algorithmic stablecoins is that they completely abandon the mortgage anchoring model, and only establish a monetary system through market supply and demand. There is no specific Centralized issuer.

For this reason, the algorithmic stablecoin may also represent a specific market demand from the perspective of “deregulation”-outside the mainstream market currently occupied by USDT and other mainstream markets, the long tail effect gradually erodes the vacated market share.

However, the current market value of ESD is less than 400 million US dollars. The market value of the overall algorithmic stable currency is very small, and it is only a niche experiment. Whether it can truly challenge the centralized stable currency is still unknown.

04 Summary

As a technological innovation with financial attributes, encrypted digital currency projects benefit from their own permissionless and high liquidity characteristics. From an investment perspective, they themselves are high-risk behaviors.

But up to now, to be honest, the entire market is still in a state of chaos, and the identification and investment of projects is completely a game of “big and small”-not only the project vision is free to play, even the progress of subsequent development is also almost dependent The “personality” of the project party has no effective supervision and restriction.

This is also the root cause of the chaos and chaos in the industry. However, it is understandable in the early stage. After all, many disruptive innovations are on the edge of gray in the early stage.

The encrypted digital currency market and blockchain will further expand in size in the future and gain wider recognition and participation. Sooner or later, a certain degree of supervision and regulation will be a matter of time. “Supervising” the blockchain may become the norm in the future.

As the industry runs off and scams are chaotic, “regulating” the blockchain will become a matter of time. What do you think of this view?

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How many bitcoins are left in retail investors, and who is controlling bitcoin prices through institutions? (www.blockcast.cc)

At present, Bitcoin may be a store of value for a few people, as a means of hedging inflation or a “digital gold” recognized by many people. The institutionalization of assets has made it clear that one thing is that Bitcoin is not suitable for retail investors, and it may mean different things to different people. It may be an asset class, such as a commodity, a legal medium of exchange, or a constant record of the rights and ownership of others.

Bitcoin is not a solution to problems, but a number of practical challenges in the traditional financial and economic fields.

It has become an investable asset class other than gold, and although Bitcoin’s volatility has become an important limitation of assets, it is no longer the focus of attention.

In the case of institutional investment or hedge fund preference, Bitcoin will check all the boxes in the product market suitability. This may be the main reason why SCVentures and Northern Trust reached an agreement to start ZordiaCustody. And why Mass Mutual recently bought $100 million in Bitcoin.

Bitcoin’s double-digit ROI and rapid growth have proved that it is better than other existing technologies, assets, financial products and services.

Due to lack of infrastructure, institutions avoided Bitcoin in 2013, however, they now expect demand to be fluctuating and may eventually stabilize as the market matures. More importantly, compared with traditional assets, cryptocurrency began to appear at the other end, that is, retail transactions first appeared, and then institutionalization. When institutionalization began, we had to start thinking about a problem: retail traders still How many bitcoins are left and what is the bitcoin price controlled by the institution?

This is the timetable for the rapid institutionalization of Bitcoin over the years. It may be a bit imperfect, but compared with the first Bitcoin ETF proposed by the Winklevoss twins, it has actually come a long way, and the exchange is rejected every day Institutions that inject hundreds of millions of dollars in assets.

Institutions such as PayPal and other credit card companies have begun to compete in the remaining limited supply. The price trend since August 2020 is mainly driven by institutions, and this trend can be clearly seen in the daily announcements of cryptocurrency Twitter.

In order to see this in perspective, consider the fact that GrayScale purchased 71,000 bitcoins on behalf of customers and investors, which is almost 8 times the number of bitcoins mined the day before. Such a rapid acquisition of bitcoin has caused retail traders to speculate about the impact of large-scale selling or falling prices.

Although it is not known on which exchange the institutions are selling, the demand they generate has absorbed the miners’ bitcoins. If the demand generation is left to retail traders, under the current volatility and momentum, it will be a daunting challenge for the price of Bitcoin to exceed $20,000.

The main factors that promote the institutionalization and interest of hedge fund managers and family offices are information asymmetry, improper supervision and inefficient transaction execution on most platforms. Information asymmetry gives institutions a huge advantage, because “quiet weekends” get rid of weak hands. In most cases, even a 15% price drop will trigger a sell-off.

Retail traders are sensitive to factors such as Bitcoin’s social class, while financial institutions are looking at future rewards-their accumulated average price is $19,400 per Bitcoin, and in some cases even higher.

One of the several purposes of Bitcoin was to free retail or personnel from centralized entities or third parties, but the current pace of institutionalization suggests that the game may be over before it starts. Various institutions may have seen Bitcoin as the only solution to hyperinflation, the immigration crisis, and the devaluation of the world’s reserve currency, the dollar.

The threat of the global banking crisis and financial depression is engulfing us, and financial institutions continue to change their position on Bitcoin, soften Bitcoin, accumulate Bitcoin, and push retail Bitcoin aside.

The total market value of Bitcoin is almost the same as that of several technology stocks in the S&P 500 Index, which makes it relatively easier for Bitcoin to be acquired, dominate or influence price trends. The halving mechanism designed to protect gold from hoarding may work contrary to our intuition. It makes assets scarce enough to remind financial institutions of the gold fractal in the 1970s and the possibility of price explosions when supply dries up.

The institutionalization of Bitcoin has changed the prospects of the market, but it cannot be concluded that this is also in the best interests of retail traders.

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How many bitcoins are left in retail investors, and who is controlling bitcoin prices through institutions? (www.blockcast.cc)

At present, Bitcoin may be a store of value for a few people, as a means of hedging inflation or a “digital gold” recognized by many people. The institutionalization of assets has made it clear that one thing is that Bitcoin is not suitable for retail investors, and it may mean different things to different people. It may be an asset class, such as a commodity, a legal medium of exchange, or a constant record of the rights and ownership of others.

Bitcoin is not a solution to problems, but a number of practical challenges in the traditional financial and economic fields.

It has become an investable asset class other than gold, and although Bitcoin’s volatility has become an important limitation of assets, it is no longer the focus of attention.

In the case of institutional investment or hedge fund preference, Bitcoin will check all the boxes in the product market suitability. This may be the main reason why SCVentures and Northern Trust reached an agreement to start ZordiaCustody. And why Mass Mutual recently bought $100 million in Bitcoin.

Bitcoin’s double-digit ROI and rapid growth have proved that it is better than other existing technologies, assets, financial products and services.

Due to lack of infrastructure, institutions avoided Bitcoin in 2013, however, they now expect demand to be fluctuating and may eventually stabilize as the market matures. More importantly, compared with traditional assets, cryptocurrency began to appear at the other end, that is, retail transactions first appeared, and then institutionalization. When institutionalization began, we had to start thinking about a problem: retail traders still How many bitcoins are left and what is the bitcoin price controlled by the institution?

This is the timetable for the rapid institutionalization of Bitcoin over the years. It may be a bit imperfect, but compared with the first Bitcoin ETF proposed by the Winklevoss twins, it has actually come a long way, and the exchange is rejected every day Institutions that inject hundreds of millions of dollars in assets.

Institutions such as PayPal and other credit card companies have begun to compete in the remaining limited supply. The price trend since August 2020 is mainly driven by institutions, and this trend can be clearly seen in the daily announcements of cryptocurrency Twitter.

In order to see this in perspective, consider the fact that GrayScale purchased 71,000 bitcoins on behalf of customers and investors, which is almost 8 times the number of bitcoins mined the day before. Such a rapid acquisition of bitcoin has caused retail traders to speculate about the impact of large-scale selling or falling prices.

Although it is not known on which exchange the institutions are selling, the demand they generate has absorbed the miners’ bitcoins. If the demand generation is left to retail traders, under the current volatility and momentum, it will be a daunting challenge for the price of Bitcoin to exceed $20,000.

The main factors that promote the institutionalization and interest of hedge fund managers and family offices are information asymmetry, improper supervision and inefficient transaction execution on most platforms. Information asymmetry gives institutions a huge advantage, because “quiet weekends” get rid of weak hands. In most cases, even a 15% price drop will trigger a sell-off.

Retail traders are sensitive to factors such as Bitcoin’s social class, while financial institutions are looking at future rewards-their accumulated average price is $19,400 per Bitcoin, and in some cases even higher.

One of the several purposes of Bitcoin was to free retail or personnel from centralized entities or third parties, but the current pace of institutionalization suggests that the game may be over before it starts. Various institutions may have seen Bitcoin as the only solution to hyperinflation, the immigration crisis, and the devaluation of the world’s reserve currency, the dollar.

The threat of the global banking crisis and financial depression is engulfing us, and financial institutions continue to change their position on Bitcoin, soften Bitcoin, accumulate Bitcoin, and push retail Bitcoin aside.

The total market value of Bitcoin is almost the same as that of several technology stocks in the S&P 500 Index, which makes it relatively easier for Bitcoin to be acquired, dominate or influence price trends. The halving mechanism designed to protect gold from hoarding may work contrary to our intuition. It makes assets scarce enough to remind financial institutions of the gold fractal in the 1970s and the possibility of price explosions when supply dries up.

The institutionalization of Bitcoin has changed the prospects of the market, but it cannot be concluded that this is also in the best interests of retail traders.

Categories
News

How many bitcoins are left in retail investors, and who is controlling bitcoin prices through institutions? (www.blockcast.cc)

At present, Bitcoin may be a store of value for a few people, as a means of hedging inflation or a “digital gold” recognized by many people. The institutionalization of assets has made it clear that one thing is that Bitcoin is not suitable for retail investors, and it may mean different things to different people. It may be an asset class, such as a commodity, a legal medium of exchange, or a constant record of the rights and ownership of others.

Bitcoin is not a solution to problems, but a number of practical challenges in the traditional financial and economic fields.

It has become an investable asset class in addition to gold, and although Bitcoin’s volatility has become an important limitation of assets, it is no longer the focus of attention.

散户还剩多少比特币,又是谁通过机构在控制比特币价格?

In the case of institutional investment or hedge fund preference, Bitcoin will check all the boxes in the product market suitability. This may be the main reason why SCVentures and Northern Trust reached an agreement to start ZordiaCustody. And why Mass Mutual recently bought $100 million in Bitcoin.

Bitcoin’s double-digit ROI and rapid growth have proved that it is better than other existing technologies, assets, financial products and services.

Due to lack of infrastructure, institutions avoided Bitcoin in 2013, however, they now expect demand to be fluctuating and may eventually stabilize as the market matures. More importantly, compared with traditional assets, cryptocurrency began to appear at the other end, that is, retail transactions first appeared, and then institutionalization. When institutionalization began, we had to start thinking about a problem: retail traders still How many bitcoins are left and what is the bitcoin price controlled by the institution?

This is the timetable for the rapid institutionalization of Bitcoin over the years. It may be a bit imperfect, but compared with the first Bitcoin ETF proposed by the Winklevoss twins, it has actually come a long way, and the exchange is rejected every day Institutions that inject hundreds of millions of dollars in assets.

散户还剩多少比特币,又是谁通过机构在控制比特币价格?

Institutions such as PayPal and other credit card companies have begun to compete in the remaining limited supply. The price trend since August 2020 is mainly driven by institutions, and this trend can be clearly seen in the daily announcements of cryptocurrency Twitter.

In order to see this in perspective, consider the fact that GrayScale purchased 71,000 bitcoins on behalf of customers and investors, which is almost 8 times the number of bitcoins mined the day before. Such a rapid acquisition of bitcoin has caused retail traders to speculate about the impact of large-scale selling or falling prices.

Although it is not known on which exchange the institutions are selling, the demand they generate has absorbed the miners’ bitcoins. If the demand generation is left to retail traders, under the current volatility and momentum, it will be a daunting challenge for the price of Bitcoin to exceed $20,000.

The main factors that promote the institutionalization and interest of hedge fund managers and family offices are information asymmetry, improper supervision and inefficient transaction execution on most platforms. Information asymmetry gives institutions a huge advantage, because “quiet weekends” get rid of weak hands. In most cases, even a 15% price drop will trigger a sell-off.

Retail traders are sensitive to factors such as Bitcoin’s social class, while financial institutions are looking at future rewards- their accumulated average price is $19,400 per Bitcoin, and in some cases even higher.

散户还剩多少比特币,又是谁通过机构在控制比特币价格?

One of the several purposes of Bitcoin was to free retail or personnel from centralized entities or third parties, but the current pace of institutionalization suggests that the game may be over before it starts. Various institutions may have seen Bitcoin as the only solution to hyperinflation, the immigration crisis, and the devaluation of the world’s reserve currency, the dollar.

The threat of the global banking crisis and financial depression is engulfing us, and financial institutions continue to change their position on Bitcoin, soften Bitcoin, accumulate Bitcoin, and push retail Bitcoin aside.

The total market value of Bitcoin is almost the same as that of several technology stocks in the S&P 500 Index, which makes it relatively easier for Bitcoin to be acquired, dominate or influence price trends. The halving mechanism designed to protect gold from hoarding may work contrary to our intuition. It makes assets scarce enough to remind financial institutions of the gold fractal in the 1970s and the possibility of price explosions when supply dries up.

The institutionalization of Bitcoin has changed the prospects of the market, but it cannot be concluded that this is also in the best interests of retail traders.

The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.

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News

In 2020, many indicators of Ethereum hit record highs! These factors deserve attention (www.blockcast.cc)

The price of Ethereum still fell more than 50% from the historical high, but it is worth emphasizing that dozens of Ethereum indicators have reached new highs during the year.

Original title: “Depth丨2020, Ethereum’s 10 indicators have reached a record high! 》
Author: Lucas Campbell

The claim that BTC is the “fastest horse” as a digital gold and an inflation hedging tool has begun to gain investors’ approval . As a result, the asset sparked a new wave of institutional interest, pushing prices to new highs.

Legendary fund managers such as Paul Tudor Jones and Stan Drunkenmiller began to invest in the asset. At the same time, Square, Mass Mutual, and MicroStrategy became the first companies to hold BTC on their balance sheets.

Although the ETH community held DeFi Summer 2020, which is characterized by the explosive investment of interest and capital into decentralized finance and unlocked the new distribution mechanism of the ownership economy, this craze only exists within the community to a large extent .

So far, the price of ETH is still more than 50% lower than its ATH.

However, the Ethereum economy performed well this year. It is worth emphasizing that from the launch of Ethereum 2.0 and the boom in DeFi yield farming, the ecosystem has experienced exponential growth across the board. Dozens of Ethereum indicators reached new highs during the year.

Here are ten Ethereum charts that will reach ATH in 2020:

1. The utilization rate of Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Etherescan

Network utilization can be said to be one of the most basic indicators to measure the health of any public blockchain . Simply put, it can be transformed into a demand for block space. It means that people are actually willing to use (and pay) the ledger as a settlement layer.

The demand for Ethereum block space has reached its limit. The demand for using Ethereum is so large and continuous that the utilization rate of the network has been at the top, and it really cannot be higher.

Whether it is borrowing capital on Aave or Compound, exchanging tokens on Uniswap, trading derivatives on Synthetix, launching DAO, or sending USD stablecoins to anyone in the world, Ethereum has always been the settlement layer of the decentralized economy. There is a lot of demand .

Now, Ethereum needs to scale up. Whether it comes from the second layer of solutions such as the optimistic rollup or the upcoming Ethereum 2.0, the network has reached the point where it requires too much block space, and it needs to increase its capacity to realize its full potential.

2. Ethereum Hashrate hits a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

Despite the imminent transition to PoS, the computing power of Ethereum has climbed to a new high. In other words, the network is more secure than ever . According to The Block’s data, Ethereum’s current computing power has exceeded 271 TH/s, exceeding its historical high in September 2018 by approximately 240 TH/s, which was achieved in a bear market.

With the setting of the difficulty bomb in July 2021, miners swallowed up all the remaining ETH before their mining equipment was “bricked”. But whether the community needs to postpone the difficulty bomb again is another question.

Even if all Ethereum 2.0 phases are working in parallel, which should be much faster than the initial phase 0 launch, it seems unlikely that the network will switch to PoS in the next six months.

3. Open interest in ETH options hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Skew

The public equity of options refers to the total circulating value of unexercised options . This indicator of Ethereum is close to 1 billion U.S. dollars. Although this number is relatively small from a big point of view, it does give us some important enlightenment about the network. Nic described this situation very elegantly in his article:

Just as the emergence of derivatives was originally designed to allow farmers to hedge the risks of crops and lock in the specific price of the harvest (and obtain the liquidity of future crops so that they can buy seeds and fertilizers today), the option is against the producers of Bitcoin – Miners are also useful. Based on their own equipment, miners can roughly estimate how many bitcoins they will mine under reasonable assumptions of computing power. If they want to get the “advance” of expected mining coins, they can sell the call. This means that they promise to deliver the Token at a certain price on a certain date-but they can get paid for this promise today. With this cash advance, they can conduct financing operations more efficiently.

What this picture tells me is that Bitcoin producers now have access to more complex financial products that they can use to hedge risks. In theory, this should mean that the mining industry is more stable and less affected by booms and depressions. This allows miners to focus on operating their business effectively and frees them from the burden of worrying about the unhedged risks of their equipment.

From the same perspective, the development of Ethereum options can make miners’ operations more efficient, because they can hedge the risk of volatility and provide funds for operations by selling call options.

In addition, the options market allows traders to express their prospects more creatively, and market participants have more tools, which can naturally support more capital inflows.

All in all, the $1 billion open equity is a positive signal for the growth of the network and the financial instruments available to all market participants .

4. The number of DeFi users reached the highest level in history

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Dune Analytics

At the beginning of this year, the number of users of DeFi was less than 100,000, but then there was a parabolic trend and the number of users of all protocols exceeded 1 million . It should be noted that the “DeFi users” here are actually only valid addresses, so the actual number is likely to be reported.

In any case, this picture can illustrate all the problems. The number of independent wallets interacting with DeFi has risen completely vertically-we all know why.

The introduction of yield farming triggered a brief period of mania in the Ethereum ecosystem . And it quickly became more fanatical. At its peak, there were new farming, endless mobile mining activities, and wave after wave of degens connecting to Pool 2, but they were destroyed within a few hours. This is reminiscent of the ICO era, when new tokens are launched every day to promote the promise of bringing billions of users into cryptocurrencies.

But this is not all bad. The encryption industry unlocks a valuable distribution mechanism that may have a profound impact on future equity distribution methods. What’s the point? Give ownership to those who provide and create the greatest value: users.

Platforms like Facebook, Youtube, Twitter, Uber, and Airbnb do not really rely on themselves to create value. They rely on personal and network effects. Everyone who uses these platforms will make it more and more valuable. Whether it’s creating video content for the global population or giving strangers a ride across the city, these multi-billion dollar platforms rely solely on individuals to generate value. People don’t go to Facebook to read Facebook content, and they don’t live in Airbnb houses.

It all depends on the individual.

Then why not give them the ownership of the platform? This is the yield farming pioneered by DeFi. Individuals provide valuable services to the network (such as providing funds to Compound) and thus obtain ownership of the agreement.

It is not difficult to imagine that in the future, Uber drivers will get a part of the equity every time they ride a car, or every time an Airbnb host receives a guest, they will get a part of the equity.

5. The total lock value is at the highest point in history

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Debank

With the proliferation of wallets, the total lock-up value (TVL) has also seen a massive increase, which can also be partly attributed to the boom in yield farming.

At the beginning of this year, the value of all agreements held was approximately US$600 million. But it wasn’t until February that the sector reached unicorn status. Fast forward to the end of the year, and the value locked in by DeFi sits far more than $15 billion – a 25-fold increase in any year. As mentioned earlier, the growth of DeFi value lock-in is mainly due to the frenzy of yield farming throughout June and September .

Stimulated by Compound’s COMP Token, as investors received astronomical passive income returns, capital began to flood into the emerging (sometimes unaudited) DeFi protocol.

6. DEX volume hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

The rise of decentralized exchanges (DEX) is one of the notable events this year . Although they have been one of the most popular use cases for Ethereum, its historical performance has been below expectations. The clumsy interface, slow transaction speed and many other problems plagued the first batch of Ethereum DEX. If you have been exposed to this project, you may remember to trade altcoins on EtherDelta.

Since then, the situation has changed dramatically.

As a result of DeFi Summer, the trading volume of DEX soared in 2020 and reached a peak of more than $25 billion in September alone. Even better, these crypto-native exchanges have gained a significant advantage on centralized exchanges (CEX), because the market share of DEX trading volume has reached up to 15% of centralized peers-from <1% in 2019 The average level has risen sharply. Uniswap, Curve and Balancer are all major promoters in this field.

But so far, Uniswap is the dominant player. Constant product AMM accounts for nearly 60% of all DEX trading volume , while other products support the low trading volume of tens of dollars. In the past few years, significant progress has been made in this field, which is a promising sign to see DEXs competing with centralized exchanges.

After all, keeping up with the permissionless, global nature of the Ethereum financial agreement should be difficult . This is especially true for similar projects such as Uniswap when it comes to supporting long-tail assets on Ethereum. Any ERC20 Token can be listed immediately-no jump, no listing fee, no additional operations. This is a level playing field because everyone must abide by the same rules. All you have to do is deposit the initial liquidity, and anyone and anywhere can access the Token-whether it is a transaction or liquidity regulations.

Therefore, GoliATHs like Coinbase and Binance are significantly faster when listing new tokens. This is obvious. Sushiswap’s SUSHI on Binance and Graph’s GRT on Coinbase were both listed on the same day.

And maybe one day we will see CEX begin to use liquidity agreements for trading, instead of building its own infrastructure.

7. The impact of BTC on Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: BTC on Ethereum

The BTC circulating in the Ethereum economy has exceeded 3.3 billion U.S. dollars, accounting for 0.675% of all BTC in existence.

Similar to everything else in DeFi, this number has a crazy parabolic trend due to the boom in yield farming. People can no longer idle their BTC. Instead, they chose to use any of the dozens of high-yield passive income opportunities provided by DeFi. This is too good to be resisted.

Whether it is to become a liquidity provider on Curve or Uniswap, or to deposit it on platforms such as Compound and Aave, the decentralized economy of Ethereum provides BTC holders with multiple ways to earn passively in a non-custodial manner Revenue, which is consistent with the core cypherpunk philosophy . This is in sharp contrast to the choices of BTC holders, in which depositors will have to rely on centralized lenders like BlockFi or Celsius to earn yields.

Even better, there are more Bitcoin packaging forms on Ethereum than ever before. Although wBTC has historically dominated the asset class, the ecosystem now has more choices, including renBTC, tBTC, sBTC, and other options.

I suspect this is a trend that will end soon. Ethereum will only have more ways to use your funds in the future, and BTC holders will have more forms of packaging Bitcoin to choose from.

In other words, it is only a matter of time before we see it slowly rise to 1% or even higher.

8. ETH held by Grayscale hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

Grayscale is becoming a black hole for encrypted assets. Not only did the company hold 2.5% of all BTC, they also increased its ETH position to 2.3% of this year’s supply (approximately $1.7 billion) through its $ETHE investment product . The asset’s daily trading volume has also reached a record high, with an average daily trading volume of more than US$24.6 million in November – much higher than its previous record of US$15.6 million in August 2020.

But here is a little hint. Although the proliferation of Grayscale’s Ethereum products is a good sign, the main interest of institutions (they are a necessary condition for casting “shares”) may be to use the high premium of $ETHE instead of using it for anything meaningful Long-term investment position.

For reference, the current premium rate of $ETHE is 132%-a good rate of return for ETH locked for 6-12 months. In any case, the rise of $ETHE does provide institutional investors and qualified investors with opportunities to get involved in Ethereum.

They have 6 months to wait for the asset flip to earn a premium, so we can only imagine that at least some of these investors will eventually walk into the rabbit hole and start digging their investments to understand what Ethereum is.

9. The stablecoin on Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: CoinMetrics

The Cambrian outbreak of DeFi is only possible with the growth of stablecoins or “dollar stablecoins” on Ethereum . In the past two years, these U.S. dollar-linked assets have flourished in the ecosystem and now represent nearly 20 billion U.S. dollars in value on the web.

But in 2018, stablecoins hardly exist outside of Tether (USDT). Now, there are dozens of different types of USD stablecoins, from currency support to algorithms. And it seems that this trend has not slowed down.

Since these synthetic dollars can be publicly accessed by anyone with an Internet connection, Ethereum has greatly increased the influence of the U.S. dollar on more users around the world. The recent incident in Venezuela is a good example. Circle, the organization behind USDC, cooperates with the Bolivarian Republic of Venezuela and Airtm to provide assistance to Venezuelan frontline medical workers through the use of USDC.

In the cooperation of multiple participants (including the US government), they were able to bypass Maduro’s capital controls on the domestic financial system. As a result, they were able to invest millions of dollars in the hands of people fighting for the health and safety of the Venezuelan people.

This truly shows the power of embracing public blockchains. The United States and other nation-states can bypass the restrictions imposed by foreign jurisdictions and expand their scope and influence by using these permissionless platforms instead of confronting them.

10. ETH in deposit contracts hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Dune Analytics

The last picture is a bit cheating, because now it can only go up. Nevertheless, ETH became the first Internet bond to achieve unicorn status soon after the Ethereum 2.0 deposit contract was launched. The contract currently holds more than 1.5% of the total supply of ETH, representing a value of more than 1.1 billion U.S. dollars, and guarantees the ultimate public chain of Ethereum.

Although it is too early, the signs of capital influx into the contract indicate that the Ethereum community collectively supports the advancement of this new field of decentralized future scalable blockchain .

The best part is that the infrastructure built around Ethereum 2.0 will only increase.

Whether it is major exchanges like Coinbase or Binance that support ETH staking, or the launch of decentralized staking providers like Rocket Pool, or provide individuals with better plug-and-play hardware solutions to participate in Ethereum 2.0 Verification will only become more convenient in the future.

Look to the future

When BTC is celebrating a new high in price, Ethereum also has a lot to celebrate. A series of indicators from fundamentals to narratives are showing the adoption of Ethereum as the global settlement layer of the Internet of Value.

A decentralized economy is being built day by day, and there are many developments to prove this. Considering that the DeFi industry barely existed two years ago. Now, there are more than 15 billion U.S. dollars in funds used to support powerful financial applications, and 20 billion U.S. dollars in tokenized U.S. dollars-anyone can access all of these funds as long as there is an Internet connection.

Although I emphasized these ten items, there are many other indicators in the entire Ethereum economy that are breaking new records . NFT and digital art have reached seven-figure trading volume, and crypto-native financial primitives such as lightning loans have now soared to billions of dollars in trading volume.

There are many entry points: Ethereum is growing .

And there are fundamental catalysts to support this growth. The smooth progress of Ethereum 2.0, CME recently announced that they will support ETH futures in 2021, and Jerome is also warming up the money printing machine for a new round of stimulus policies.

Next ETH will record a new high?

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In 2020, many indicators of Ethereum hit record highs! These factors deserve attention (www.blockcast.cc)

The price of Ethereum still fell more than 50% from the historical high, but it is worth emphasizing that dozens of Ethereum indicators have reached new highs during the year.

Original title: “Depth丨2020, Ethereum’s 10 indicators have reached a record high! 》
Author: Lucas Campbell

The claim that BTC is the “fastest horse” as a digital gold and an inflation hedging tool has begun to gain investors’ approval . As a result, the asset sparked a new wave of institutional interest, pushing prices to new highs.

Legendary fund managers such as Paul Tudor Jones and Stan Drunkenmiller began to invest in the asset. At the same time, Square, Mass Mutual, and MicroStrategy became the first companies to hold BTC on their balance sheets.

Although the ETH community held DeFi Summer 2020, which is characterized by the explosive investment of interest and capital into decentralized finance and unlocked the new distribution mechanism of the ownership economy, this craze only exists within the community to a large extent .

So far, the price of ETH is still more than 50% lower than its ATH.

However, the Ethereum economy performed well this year. It is worth emphasizing that from the launch of Ethereum 2.0 and the boom in DeFi yield farming, the ecosystem has experienced exponential growth across the board. Dozens of Ethereum indicators reached new highs during the year.

Here are ten Ethereum charts that will reach ATH in 2020:

1. The utilization rate of Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Etherescan

Network utilization can be said to be one of the most basic indicators to measure the health of any public blockchain . Simply put, it can be transformed into a demand for block space. It means that people are actually willing to use (and pay) the ledger as a settlement layer.

The demand for Ethereum block space has reached its limit. The demand for using Ethereum is so large and continuous that the utilization rate of the network has been at the top, and it really cannot be higher.

Whether it is borrowing capital on Aave or Compound, exchanging tokens on Uniswap, trading derivatives on Synthetix, launching DAO, or sending USD stablecoins to anyone in the world, Ethereum has always been the settlement layer of the decentralized economy. There is a lot of demand .

Now, Ethereum needs to scale up. Whether it comes from the second layer of solutions such as the optimistic rollup or the upcoming Ethereum 2.0, the network has reached the point where it requires too much block space, and it needs to increase its capacity to realize its full potential.

2. Ethereum Hashrate hits a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

Despite the imminent transition to PoS, the computing power of Ethereum has climbed to a new high. In other words, the network is more secure than ever . According to The Block’s data, Ethereum’s current computing power has exceeded 271 TH/s, exceeding its historical high in September 2018 by approximately 240 TH/s, which was achieved in a bear market.

With the setting of the difficulty bomb in July 2021, miners swallowed up all the remaining ETH before their mining equipment was “bricked”. But whether the community needs to postpone the difficulty bomb again is another question.

Even if all Ethereum 2.0 phases are working in parallel, which should be much faster than the initial phase 0 launch, it seems unlikely that the network will switch to PoS in the next six months.

3. Open interest in ETH options hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Skew

The public equity of options refers to the total circulating value of unexercised options . This indicator of Ethereum is close to 1 billion U.S. dollars. Although this number is relatively small from a big point of view, it does give us some important enlightenment about the network. Nic described this situation very elegantly in his article:

Just as the emergence of derivatives was originally designed to allow farmers to hedge the risks of crops and lock in the specific price of the harvest (and obtain the liquidity of future crops so that they can buy seeds and fertilizers today), the option is against the producers of Bitcoin – Miners are also useful. Based on their own equipment, miners can roughly estimate how many bitcoins they will mine under reasonable assumptions of computing power. If they want to get the “advance” of expected mining coins, they can sell the call. This means that they promise to deliver the Token at a certain price on a certain date-but they can get paid for this promise today. With this cash advance, they can conduct financing operations more efficiently.

What this picture tells me is that Bitcoin producers now have access to more complex financial products that they can use to hedge risks. In theory, this should mean that the mining industry is more stable and less affected by booms and depressions. This allows miners to focus on operating their business effectively and frees them from the burden of worrying about the unhedged risks of their equipment.

From the same perspective, the development of Ethereum options can make miners’ operations more efficient, because they can hedge the risk of volatility and provide funds for operations by selling call options.

In addition, the options market allows traders to express their prospects more creatively, and market participants have more tools, which can naturally support more capital inflows.

All in all, the $1 billion open equity is a positive signal for the growth of the network and the financial instruments available to all market participants .

4. The number of DeFi users reached the highest level in history

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Dune Analytics

At the beginning of this year, the number of users of DeFi was less than 100,000, but then there was a parabolic trend and the number of users of all protocols exceeded 1 million . It should be noted that the “DeFi users” here are actually only valid addresses, so the actual number is likely to be reported.

In any case, this picture can illustrate all the problems. The number of independent wallets interacting with DeFi has risen completely vertically-we all know why.

The introduction of yield farming triggered a brief period of mania in the Ethereum ecosystem . And it quickly became more fanatical. At its peak, there were new farming, endless mobile mining activities, and wave after wave of degens connecting to Pool 2, but they were destroyed within a few hours. This is reminiscent of the ICO era, when new tokens are launched every day to promote the promise of bringing billions of users into cryptocurrencies.

But this is not all bad. The encryption industry unlocks a valuable distribution mechanism that may have a profound impact on future equity distribution methods. What’s the point? Give ownership to those who provide and create the greatest value: users.

Platforms like Facebook, Youtube, Twitter, Uber, and Airbnb do not really rely on themselves to create value. They rely on personal and network effects. Everyone who uses these platforms will make it more and more valuable. Whether it’s creating video content for the global population or giving strangers a ride across the city, these multi-billion dollar platforms rely solely on individuals to generate value. People don’t go to Facebook to read Facebook content, and they don’t live in Airbnb houses.

It all depends on the individual.

Then why not give them the ownership of the platform? This is the yield farming pioneered by DeFi. Individuals provide valuable services to the network (such as providing funds to Compound) and thus obtain ownership of the agreement.

It is not difficult to imagine that in the future, Uber drivers will get a part of the equity every time they ride a car, or every time an Airbnb host receives a guest, they will get a part of the equity.

5. The total lock value is at the highest point in history

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Debank

With the proliferation of wallets, the total lock-up value (TVL) has also seen a massive increase, which can also be partly attributed to the boom in yield farming.

At the beginning of this year, the value of all agreements held was approximately US$600 million. But it wasn’t until February that the sector reached unicorn status. Fast forward to the end of the year, and the value locked in by DeFi sits far more than $15 billion – a 25-fold increase in any year. As mentioned earlier, the growth of DeFi value lock-in is mainly due to the frenzy of yield farming throughout June and September .

Stimulated by Compound’s COMP Token, as investors received astronomical passive income returns, capital began to flood into the emerging (sometimes unaudited) DeFi protocol.

6. DEX volume hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

The rise of decentralized exchanges (DEX) is one of the notable events this year . Although they have been one of the most popular use cases for Ethereum, its historical performance has been below expectations. The clumsy interface, slow transaction speed and many other problems plagued the first batch of Ethereum DEX. If you have been exposed to this project, you may remember to trade altcoins on EtherDelta.

Since then, the situation has changed dramatically.

As a result of DeFi Summer, the trading volume of DEX soared in 2020 and reached a peak of more than $25 billion in September alone. Even better, these crypto-native exchanges have gained a significant advantage on centralized exchanges (CEX), because the market share of DEX trading volume has reached up to 15% of centralized peers-from <1% in 2019 The average level has risen sharply. Uniswap, Curve and Balancer are all major promoters in this field.

But so far, Uniswap is the dominant player. Constant product AMM accounts for nearly 60% of all DEX trading volume , while other products support the low trading volume of tens of dollars. In the past few years, significant progress has been made in this field, which is a promising sign to see DEXs competing with centralized exchanges.

After all, keeping up with the permissionless, global nature of the Ethereum financial agreement should be difficult . This is especially true for similar projects such as Uniswap when it comes to supporting long-tail assets on Ethereum. Any ERC20 Token can be listed immediately-no jump, no listing fee, no additional operations. This is a level playing field because everyone must abide by the same rules. All you have to do is deposit the initial liquidity, and anyone and anywhere can access the Token-whether it is a transaction or liquidity regulations.

Therefore, GoliATHs like Coinbase and Binance are significantly faster when listing new tokens. This is obvious. Sushiswap’s SUSHI on Binance and Graph’s GRT on Coinbase were both listed on the same day.

And maybe one day we will see CEX begin to use liquidity agreements for trading, instead of building its own infrastructure.

7. The impact of BTC on Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: BTC on Ethereum

The BTC circulating in the Ethereum economy has exceeded 3.3 billion U.S. dollars, accounting for 0.675% of all BTC in existence.

Similar to everything else in DeFi, this number has a crazy parabolic trend due to the boom in yield farming. People can no longer idle their BTC. Instead, they chose to use any of the dozens of high-yield passive income opportunities provided by DeFi. This is too good to be resisted.

Whether it is to become a liquidity provider on Curve or Uniswap, or to deposit it on platforms such as Compound and Aave, the decentralized economy of Ethereum provides BTC holders with multiple ways to earn passively in a non-custodial manner Revenue, which is consistent with the core cypherpunk philosophy . This is in sharp contrast to the choices of BTC holders, in which depositors will have to rely on centralized lenders like BlockFi or Celsius to earn yields.

Even better, there are more Bitcoin packaging forms on Ethereum than ever before. Although wBTC has historically dominated the asset class, the ecosystem now has more choices, including renBTC, tBTC, sBTC, and other options.

I suspect this is a trend that will end soon. Ethereum will only have more ways to use your funds in the future, and BTC holders will have more forms of packaging Bitcoin to choose from.

In other words, it is only a matter of time before we see it slowly rise to 1% or even higher.

8. ETH held by Grayscale hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: The Block

Grayscale is becoming a black hole for encrypted assets. Not only did the company hold 2.5% of all BTC, they also increased its ETH position to 2.3% of this year’s supply (approximately $1.7 billion) through its $ETHE investment product . The asset’s daily trading volume has also reached a record high, with an average daily trading volume of more than US$24.6 million in November – much higher than its previous record of US$15.6 million in August 2020.

But here is a little hint. Although the proliferation of Grayscale’s Ethereum products is a good sign, the main interest of institutions (they are a necessary condition for casting “shares”) may be to use the high premium of $ETHE instead of using it for anything meaningful Long-term investment position.

For reference, the current premium rate of $ETHE is 132%-a good rate of return for ETH locked for 6-12 months. In any case, the rise of $ETHE does provide institutional investors and qualified investors with opportunities to get involved in Ethereum.

They have 6 months to wait for the asset flip to earn a premium, so we can only imagine that at least some of these investors will eventually walk into the rabbit hole and start digging their investments to understand what Ethereum is.

9. The stablecoin on Ethereum hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: CoinMetrics

The Cambrian outbreak of DeFi is only possible with the growth of stablecoins or “dollar stablecoins” on Ethereum . In the past two years, these U.S. dollar-linked assets have flourished in the ecosystem and now represent nearly 20 billion U.S. dollars in value on the web.

But in 2018, stablecoins hardly exist outside of Tether (USDT). Now, there are dozens of different types of USD stablecoins, from currency support to algorithms. And it seems that this trend has not slowed down.

Since these synthetic dollars can be publicly accessed by anyone with an Internet connection, Ethereum has greatly increased the influence of the U.S. dollar on more users around the world. The recent incident in Venezuela is a good example. Circle, the organization behind USDC, cooperates with the Bolivarian Republic of Venezuela and Airtm to provide assistance to Venezuelan frontline medical workers through the use of USDC.

In the cooperation of multiple participants (including the US government), they were able to bypass Maduro’s capital controls on the domestic financial system. As a result, they were able to invest millions of dollars in the hands of people fighting for the health and safety of the Venezuelan people.

This truly shows the power of embracing public blockchains. The United States and other nation-states can bypass the restrictions imposed by foreign jurisdictions and expand their scope and influence by using these permissionless platforms instead of confronting them.

10. ETH in deposit contracts hit a record high

In 2020, many indicators of Ethereum hit record highs! These factors deserve attentionData source: Dune Analytics

The last picture is a bit cheating, because now it can only go up. Nevertheless, ETH became the first Internet bond to achieve unicorn status soon after the Ethereum 2.0 deposit contract was launched. The contract currently holds more than 1.5% of the total supply of ETH, representing a value of more than 1.1 billion U.S. dollars, and guarantees the ultimate public chain of Ethereum.

Although it is too early, the signs of capital influx into the contract indicate that the Ethereum community collectively supports the advancement of this new field of decentralized future scalable blockchain .

The best part is that the infrastructure built around Ethereum 2.0 will only increase.

Whether it is major exchanges like Coinbase or Binance that support ETH staking, or the launch of decentralized staking providers like Rocket Pool, or provide individuals with better plug-and-play hardware solutions to participate in Ethereum 2.0 Verification will only become more convenient in the future.

Look to the future

When BTC is celebrating a new high in price, Ethereum also has a lot to celebrate. A series of indicators from fundamentals to narratives are showing the adoption of Ethereum as the global settlement layer of the Internet of Value.

A decentralized economy is being built day by day, and there are many developments to prove this. Considering that the DeFi industry barely existed two years ago. Now, there are more than 15 billion U.S. dollars in funds used to support powerful financial applications, and 20 billion U.S. dollars in tokenized U.S. dollars-anyone can access all of these funds as long as there is an Internet connection.

Although I emphasized these ten items, there are many other indicators in the entire Ethereum economy that are breaking new records . NFT and digital art have reached seven-figure trading volume, and crypto-native financial primitives such as lightning loans have now soared to billions of dollars in trading volume.

There are many entry points: Ethereum is growing .

And there are fundamental catalysts to support this growth. The smooth progress of Ethereum 2.0, CME recently announced that they will support ETH futures in 2021, and Jerome is also warming up the money printing machine for a new round of stimulus policies.

Next ETH will record a new high?