CryptoExplorers says
South Korea's regulation of the crypto industry has really come, and the government intends to list all income generated by cryptocurrency as financial investment income, rather than other income from next year. The subtext of this sentence is that the crypto industry has been listed as a part of the financial industry and is ready to accept the supervision of the Monetary Authority. This is also the reason why hundreds of South Korean exchanges are ready to accept the fate of closing. At the same time, the regulatory authorities also impose restrictions on the deposit and withdrawal of compliant exchanges to circumvent the relevant provisions of the anti-money laundering law. It seems that the collective petitions of the people before this are of no use, and the supervision is still coming as scheduled. It is the South Korean opposition party that decided to set up a task force to study related systems for protecting cryptocurrency investors and victims. However, it is estimated that it will be difficult to achieve great results. Let's go and see. At present, there are about 2.5 million investors in South Korea's encryption industry. The number of people is not that many, and there is still a lot of room for the future. The supervision of South Korea has come to an end. It can be seen that the short-term currency price has been suppressed to a certain extent, but it will not change the long-term trend. As the regulatory system gradually becomes clear, it will attract traditional financial funds to enter the market, which is a long-term benefit.
The fund size of Huobi Technology exceeds 70 million US dollars, and the CFO of Huobi Technology predicts that the fund product scale will reach 1.5 billion US dollars in 2021. This is a good thing. The money drawn in these traditional fields is directly poured into encrypted assets. This is a very good incremental market, which is similar to the principle of Bitcoin ETF.
Bakkt's monthly Bitcoin futures trading volume rose by 18% from the previous week last week, and weekly trading volume is still at a relatively high level. The open interest of Bitcoin futures fell to the level of early March, a slight fall. The market sentiment is still there and there is no big problem.
Coinbase APP downloads and daily active numbers both set a single-day record. Since the IPO, the number of users has soared. This reflects a problem. For most users, distrust of cryptocurrency exchanges is one of the reasons for not participating in currency investment. Therefore, after the future encryption world is compliant, what is waiting for us will be an industry blowout.
The state of Georgia in the United States passed a plan to include cryptocurrency in the education of high school students. Each local education committee must formulate a minimum learning plan. Once these students learn, participating in practice is almost an inevitable event. We look forward to the United States taking the lead in education for all.
Grayscale unlocked GBTC worth 9,869 bitcoins this week, and the discount will continue. With the subsequent unlocking, Grayscale is not far from rights protection, but once Grayscale applies to the SEC for the redemption of GBTC→BTC, it will It was a baptism of the coin circle.
Market analysis
Bitcoin:
Congratulations to those who have picked up Bitcoin chips, because at present, the strength of the rebound is still good, so we continue to focus on bullishness and wait patiently for the end of this wave of rebound. This wave of rise is likely to continue to above 55,000, or even It will be higher. Now what we need to pay attention to is whether we will make a second top below 65,000 or continue to go out of new highs. Madmen tend to the former and keep the view of the callback cycle in the bull market unchanged.
ETH:
The daily level of the 30-day line has been supported for 7 consecutive times. Today, this root has emerged from the decline and is expected to rebound upward with Bitcoin, and has a higher probability of taking the lead in the new high market. Take it first. There is support in data: the number of transactions on the Ethereum network in a single day hit a record high, and the number of active addresses on the Ethereum network is at a historical high.
DOT:
This week, 3.7 million pieces were unlocked and 12.9 million pieces were pledged. The overall data is not bad. On the disk, it has returned to a strong support level and is expected to rebound.
XRP:
The bottoming out and the rebound are dominated by weak rebounds.
LINK:
With 3 needles at $30, there is a high probability that it will be supported, and the linkage will rebound later.
BCH:
Mainly rebound.
LTC:
The pressure near 250 is still not small, and it rebounds weakly.
ADA:
Do you still remember what i said a few days ago, when there is a decline, it is the first choice to participate in the rebound.
XMR:
The rebound after the fall obviously has funds to protect the market, and it will fluctuate to a new high later.
DOGE:
There are 190,000 people petitioning for Dogecoin, calling on Amazon to accept Dogecoin payments. At the same time, there is a data analysis. 80% of Dogecoin’s main buyers are stablecoins (domestic purchases). Smart brains come to calculate this wave. How many retail investors did the call order attract? It's at least 1 million. It's terrible. I don't know who will solve these jailed disks, so I am not optimistic.
UNI:
The shock has returned to the vicinity of the previous high, and there is a chance to hit a new record high.
The rebound is quite healthy. Big cakes set up the stage, small coins sang dramas, bargain-hunting comrades are waiting to lift the sedan, and those who haven't bargained at the bottom are looking for a callback opportunity to get on the train.
That's it for today, see you tomorrow.
