Reprinted from 100, author: block hash chain
Digital currency market after a rapid decline in 2018 November, specifically in the long bear market adjustment period. There are three sources: first, popularity, nearly a year of popularity, the lack of funds. Two, supervision, to their regulatory pressure from all sides, is no longer a free body. Three, block chain entity application root landing, the multi block chain, no money has been achieved, not by the number of encryption can also block the chain of money. Up to now, from the highest point, bitcoin prices fell and Ethernet square over 80% and 90%, most of the digital currency is almost zero.
Ten years, the price of bitcoin can thrive, the biggest push than stable currency. USDT as a stable currency market share the highest. In November 27th, Bitfinex will provide legal tender trading channel Tether, adding USDT/USD and EURT/EUR two group Tether- had been trading on 1:1, access strategy of these two groups of legal tender transactions before will replace the platform. A message, encrypted digital currency market a recent downturn in the market environment, the higher the market appeared for a long time. The highest increase of bitcoin near 8%, Ethernet Fang reached nearly 9% of the increase, the mainstream digital currency rose across the board. Stable currency can wind sways grass, causing the market uproar.
In recent years, stable currency market is also changing. The long, stable currency is Tether (USDT) in the world, most of the USDT will gather in Bitfinex or other encryption exchange, will not have so many chain trading activities. However, recently, Bitfinex implements Tether neutrality, other stable money also continue to enter the market. According to PeckShield data show that as of November 30th, the total issuance of currency stability emerging for $674 million, including TUSD, USDC and PAX respectively accounted for 28%, 25%, 20%, DAI, GUSD and other stable currency EURS, NUSD accounted for 27%. USDT’s market share is shrinking, it still occupies the share of 70%. In addition, the fire coins have begun to enter the stable money market, one is worthy of note, the fire coins and OKEx two exchange hold at least 78% of the GUSD, but as a stable currency of Gemini holdings are far less than the two exchanges, which may be stable currency as a positive signal available trading unit. The second half of this year, stable currency is ushered in explosive growth, within 30 days of 15 agencies announced the launch of currency stability. In essence, stable currency is a relative concept, because the value of real assets and become stable endorsement.
In fact, shrouded in a crypto currency bear, stable currency market has become the protagonist. Still attracted the attention of regulators. In December 6th last year, because there is always over, spamming, circulation and value problems such as opaque endorsement, the Commodity Futures Trading Commission (CFTC) to the largest trading volume was in stable currency USDT team behind the encryption currency exchange and the release of the USDT Bitfinex Tether Ltd. company issued a summons. In September 10th this year, the New York Financial Services Authority (NYDFS) is the first approved by the GUSD and PAX of the stable currency issue, this is a stable currency was first incorporated into the regulatory framework. Recently, according to foreign media The Block quoted informed sources reported that the most stable currency project famous one of Basis met the regulation resistance, decided to stop operations, are returned to investors before the investment funds of $133 million. It is reported that Basis was raised by ICO 1.33 billion dollars, has become one of the largest amount of financing project stable currency. Investors including Google capital, Bain Capital, Andreessen Horowitz and other well-known traditional light investment of venture capital institutions, and former Fed governor Kevin Warsh, Stanley Druckenmiller and hedge fund chiefs, also including MetaStable, Polychain, Pantera, an incubator, a well-known coin encryption assets investment institutions. In the encrypted digital currency market, no matter how powerful endorsement value, regulation has never stopped, whether in favor of stable currency weaken.
However, with the price of bitcoin market collapse, a series of feedback followed, the earliest machine transfer, mine evacuation, causes high electricity tariffs to make ends meet. Now, the currency industry layoffs is coming by encryption, block chain industry salary is also shrinking, many small companies, before taking advantage of encryption currency soaring financing, now also quietly shut down or switch to other projects. However, according to the University of Cambridge’s Emerging Financial Research Center (CCAF) released a study shows that although the bitcoin fell nearly 80% years, the number of users of encryption currency has been verified in the first three quarter nearly doubled, increasing from 18 million to 35 million. Although the encrypted digital money market ten years of gold was no longer as before, but the popularity of digital assets is expanding, the account number is increasing. To see if the stock market bear market opening scene “.
The market is still unknown, 1BTC or 1BTC, both mainstream currency or stable currency, all need a reference, behind the digital asset price is more of a consensus. At present, popularity, supervision, block chain application three form the iron triangle to be tomorrow, bitcoin fell, also can be described with digital assets internal and external balance and game.