[Mad Men Say Trend]ETH has gone out of the independent market, and it is expected to continue to be strong before the upgrade

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[Mad Men Say Trend]ETH has gone out of the independent market, and it is expected to continue to be strong before the upgrade
Minersgarden



Madman says…

A new UK Prime Minister has been elected, and Foreign Secretary Elizabeth Truss has successfully taken office. She previously tweeted her support for cryptocurrencies in January 2018, calling for a delay to regulations restricting the development of cryptocurrencies, but has since stopped doing so. made remarks. On the whole, it is a good signal. At least the new Prime Minister is optimistic about cryptocurrencies. In the future, he should give some help at the right time. We look forward to the UK becoming a new crypto power.

The Korea Financial Services Commission will designate securities token issuance guidelines in the fourth quarter, which means that South Korea’s ICO will be officially included in the supervision. South Korea has opened a new financing channel for its small and medium-sized enterprises through legal token issuance, which will help the country’s economy. Injecting more vitality, this set of supervision will also become a regulatory reference for various countries in the future, which is a big step in the development of the currency circle.

Singapore’s DBS Bank plans to expand its cryptocurrency business and provide services to its more than 300,000 high-net-worth customers. Despite the fact that Singapore’s policy does not support encryption, the demand is still obvious from the bank’s current wave of operations. More than 300,000 high A wave of conversion of net worth users should also be a big increase.

The Russian Ministry of Finance announced that cryptocurrency cross-border payments will soon be legalized. Cryptocurrencies can help Russia bypass U.S. financial sanctions. This is a very convenient thing. Joining will make the encrypted pool instantly bigger.

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The International Monetary Fund said that countries need a coordinated cryptocurrency regulatory framework, which is now basically understood by the regulators of various countries, but each country’s interests and demands for encryption are inconsistent, and it is still difficult to unify supervision. It is expected that global regulation will still take a long time.

Since El Salvador adopted Bitcoin as legal tender, 60 cryptocurrency and blockchain companies have registered offices in El Salvador. This data is not very strong, mainly in this small country, the space for business is too small, but as a tourism, it will get more convenience.

There are two major events overnight. One is that Binance issued a new announcement, which will automatically convert USDC, USDP, TUSD to BUSD. That is to say, if you recharge these stablecoins to Binance in the future, just follow 1: 1 Give you BUSD, you can choose to withdraw any stable currency when you withdraw. This is actually very reasonable, because the trading volume of USDC, USDP and TUSD on Binance itself is not large, so concentrating scattered stablecoins into one type can increase the depth and liquidity of various trading varieties, and can Interpreted as positive for the market. In addition, Binance also stated that there is no plan to include USDT in automatic conversion in the near future, which means that USDT will not be affected in any way, and its trading pairs are still used normally. On the whole, it gives more circulation to BUSD, which makes the Binance stablecoin have a higher share in the market, and BNB should also indirectly benefit from it.

Another major event is the merger of Ethereum. Buterin said that the merger is still expected to happen from September 13 to September 15. The progress of the merger of Ethereum has been completed 98.86%, and the average computing power of the entire network has dropped to 891TH/S, which is relatively The peak value in May dropped by 15.5%. In the future, these computing power will continue to decline, and the direct beneficiaries of the decline in computing power are those tokens that can be directly switched by mining machines. The madman checked, and the tokens that can be directly mined with GPU are RVN , XMR, ETC, so these tokens will continue to benefit, and will also be hyped for a period of time in the future.

Last week, the inflow of bitcoin short investment products reached a record high of 18 million US dollars. From the data of options, investors are also very bearish, indicating that most investors have lost confidence in bitcoin investment, but the data on the chain shows that, Long-term holders and illiquid supply still continue to rise, indicating that the selling pressure is getting smaller and smaller, and we should not continue to blindly short.

Panic 22, extreme panic.

Coin News:

Bitcoin: Going very weak, it will probably continue to oscillate around 20,000.

ETH: After going out of the independent market, the addresses of more than 1000 ETH have reached a new high in 11 months, indicating that whale accounts still choose to continue to increase their positions. It is expected that it will continue to be strong before the upgrade, and patience is the mainstay.

ETC: The computing power reached 48.19TH/S, a new record high. It will continue to make new highs in the future, with hype logic, and the ambush before can still be held.

ENS: The transaction volume has increased by 67% in the past 24 hours, ranking first in Opensea. Domain names have been traded more frequently recently. The fundamentals of the protocol are still good. There is further room for further holding.

The ETH/BTC exchange rate is close to the previous high, and it is expected to challenge the new high in the past few days, which is worth looking forward to.

Disclaimer: The article only represents the author’s personal views and opinions, and does not represent the objective point and position of the block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the authors and blockers will not be responsible for the direct and indirect losses caused by investors’ transactions.

This article[Mad Men Say Trend]ETH has gone out of the independent market, and it is expected that it will continue to be strong before the upgrade. It first appeared on the blocker.

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