Ministry of Science and Technology, 2021 blockchain business briefing session held on the 11th
The Ministry of Science and Technology and Information and Communication, along with the Korea Internet & Security Agency (KISA), the Information and Communication Industry Promotion Agency (NIPA), and the Information and Communication Planning and Evaluation Agency (IITP), will be holding a blockchain business integration briefing session in 2021 for those in the field of blockchain industry, academics, and research. It was announced that it will be held online on the 11th.
‘Whale wallet’ containing 1000 bitcoins, breaking high to 2334
The number of wallet addresses holding more than 1000 bitcoins (BTC, about 45 billion won) reached a high of 2334 as of the 8th. This indicates that the’whale’ (the so-called’big hand’ that holds a large amount of bitcoin) is actively accumulating bitcoin and leading the price increase.
Bitcoin over 40,000 dollars… There is a possibility of decline
Bitcoin faced strong resistance around $42,000, and as of 5 pm on the 10th, it is crossing the $40,000 line. Recent on-chain indicators show that both whale investors and miners who have been in the bitcoin market for a long time are selling bitcoin. In particular, as the kimchi premium of the Korean exchange is increasing, deposits of whales and strong selling are continuing to domestic exchanges such as Bithumb, Corbit, and Upbit. On the other hand, there are no signs that the institutional investors who have boosted the bitcoin price, such as the bulk withdrawal of bitcoin from Coinbase and the coinbase price premium, are still buying. As mentioned several times earlier, if institutional investors do not maintain their buying trend, the possibility of price decline is increasing.
US inflation, rising interest rates, and corrections may come
The stock price is far ahead of the daily average exports. In order to evaluate the degree, we analyzed the stock price as the average daily export amount. According to this, as of December last year, the stock price overestimated exports by 32%. During the analysis period (2005-20 years), in June 2007, the level was 31%, exceeding that level and recording the highest level. It is also possible that the stock price has risen because of abundant liquidity. So, even though the analysis included the broad currency (M2), the stock price was found to be overvalued by 22%.
Bitcoin’s greatest risk is
What is Bitcoin’s biggest weakness? Maybe it’s the founder, Satoshi Nakamoto. The power of money comes from trust in the issuer. The value of the US dollar comes from the US state and the US military power that supports it. A good example is that the fate of the Roman Empire’s silver coins had no choice but to follow the rise and fall of the Empire. Bitcoin replaced this with a non-human blockchain protocol, but if the founder appears, it could affect the reliability of Bitcoin.
Bitcoin, which went to DeFi, is returning to the exchange
As the price of bitcoin rises rapidly, assets that were previously focused on investment such as decentralized finance (De-Fi, De-Fi) are returning to bitcoin. According to the cryptocurrency consignment company Bitgo, in December of last year, the amount of incineration of Rapt Bitcoin (WBTC), a stable coin linked to bitcoin, increased significantly.
EOS founder Dan Larimer leaves EOS
Dan Larimer, the founder of the public blockchain project EOS and the Chief Technology Officer (CTO) of EOS developer Block.one, resigned after dropping all positions. Dan Larimer told the EOS-based social network service (SNS) Voice on the 10th (local time), “I am leaving Block One, which I have been with for the last 4 years,” and “I resigned from all positions as of December 31st of last year.” Revealed.
JPMorgan “If Bitcoin ETF comes out, GBTC price premium will fall”
JPMorgan published a report stating that the Bitcoin Listed Index Fund (ETF) is good in the long term, but could adversely affect the price of Bitcoin in the short term. The report analyzed that bitcoin ETFs could take some of the institutional funds that are concentrated in the Grayscale Bitcoin Trust (GBTC), which is currently the only way institutional investors can access bitcoin.
Bitcoin, which was over 40,000 dollars, where will it go in the future?
Digital asset investors and even Wall Street analysts are forecasting that the price of bitcoins will go from $50,000 each to more than $400,000. According to what CoinDesk has reported so far, the main reasons for the recent surge in Bitcoin price are as follows.
Joe Biden’s $3 trillion stimulus package leads to an additional rise in Bitcoin
The Democrats in the United States managed to win the runoff in Georgia last week, taking control of the US Congress from the Republicans. Accordingly, the House of Representatives, dominated by the Democratic Party, can now more freely implement the party’s economic policies.
Jae-seon Han, CEO of Ground X “The optimal platform for CBDC is Clayton”
Ground X, a blockchain technology affiliate of Kakao, officially launched Clayton’s mainnet, a self-developed public blockchain platform in 2019, followed by Kakasu, a digital asset wallet for web browsers, and KakaoTalk-based wallet clip in 2020, cloud-based service type. Blockchain KAS was introduced. They are all tools that support companies contemplating introducing blockchain technology to make a soft landing in the Clayton ecosystem.
Tether (USDT) refugee day
I am also investing in cryptocurrency through the global exchange Binance. It is one of the cryptocurrency exchanges that use USDT the most. It is ambiguous whether to hold Bitcoin or USDT. After contemplating, I asked industry officials who are trading experts, and one official advised to first change all USDTs in the exchange’s personal account to USDC.
Bitcoin’s path to digital gold
Be patient. Bitcoin is in the process of becoming digital gold, but it is not fully digital gold yet.
Lee Seok-woo, CEO of Upbit, “XRP (Ripple) delisted, judged that the US lawsuit should end”
Lee Seok-woo, CEO of Upbit, emphasized that the’Virtual Commercial Industry Rights Act’, which encompasses the industry, should come out quickly following the Special Regulations Act. Regarding XRP (Ripple), which several exchanges have stopped trading due to a lawsuit against securities law in the United States, he said, “We are closely watching, but we can judge it only after the lawsuit is over,” he said. “There is no plan to delist immediately.”
Short News’Today’
Jangle, business agreement with digital asset consignment company KDAC
The public data-based cryptocurrency information portal Jangle announced on the 11th that it has signed an MOU on virtual asset information and data business with Korea Digital Asset Trust (hereinafter referred to as KDAC), a digital asset trustee. With this business agreement, the two companies plan to cooperate with each other on virtual asset financial service-related information and on-chain data processing technology. KDAC is a consignee company that Shinhan Bank, Kobit, Blocko, and Face Square Lab participated in.
Reports and press releases should be sent to [email protected].