Bloomberg did not weaken across the board after coming out of the draw on June 2nd but entered a modest consolidation above $9400. At the time of writing, the price was stable above $9,700. The market was flat all day today, with prices remaining volatile within the $200 range.
ETH has maintained a strong trend in the near term, with ETH temporarily supported by $240 today. The near-inflection point high of $245 can be used as a resistance level, the next resistance level of 312 before the high. If BTC remains to be blocked at $10,000, there is a chance that the industry’s stock funds will move to a strong currency such as ETH, and BTC holders should be aware of this potential trend.
The contract market continues to be active today. Although the volume of transactions is small, in the course of the cross-cap, the contract premium continues to rise, the premium of the quarterly contract of Fire Coin after the annualized at around 10%, the rate of the perpetual contract also maintained at this level. At the Bloomberg identical time, the major major exchanges contract positions also continue to rise. The view of the entire contract market is still in a state of over-the-top.
USDT’s offer in the GLOBAL Station OTC market of 7.04 yuan, after the weakening of the U.S. dollar today also followed the trend of decline, is still in a small discount state.
Fire Coin Watch
Today, Bloomberg’s June “Bloomberg Crypto Vision” swipes in the currency ring, focusing on the growth value of Bitcoin.
The article cites a large amount of analytical data to prove that, since Bloomberg is a world-renowned media outlet, the article was able to spread fast in the industry. The Bloomberg article is certainly encouraging in the industry’s general interest in Bitcoin’s future, but the logic of some of its core ideas is debatable.
For example, the article mentions that Bitcoin futures will drive bitcoin prices above $10,000, but in the presentation process, it is only in the process of using the development of the futures market to prove that Bitcoin will become Bloomberg a mainstream asset, but the development of the futures market is not a reason to determine that Bitcoin can go up to $10,000. And the article itself also mentions that Bitcoin futures closed contracts recently reached about 50,000 bitcoins, a small proportion of the total supply, so this is a paradox in itself.
Of course, rebutting Bloomberg’s argument is not that the Press Institute is shorting Bitcoin, but that it is hoped that the agency’s output will really point to the heart of the problem, which, if not the point, will delay the development of Bitcoin.
In fact, on the future value of Bitcoin judgment, The CEO of The Global Station of Fire Coin, Mr. Sitosa, said there had been a great discussion.
Earlier, the CEO of The Global Station of Fire Coin said the total number of Bitcoin is 21 million, after the previous output of 1,800 pieces per day, from the perspective of market flows, Bitcoin inflation rate is 3.7% per year. That Bloomberg would be reduced to 1.8 per cent after halving. The dollar is estimated to be 2.4% inflation based on purchasing power. This means that the third time bitcoin has halved, it becomes an asset with a lower inflation rate than the dollar.
Regarding the change in the currency price, Mr. Sisaid said that in the long run, there was a greater consensus on bitcoin’s rise, with the core coming from its deflation model, which is based on a half-cut mechanism. Bloomberg halving itself has led to a reduction in the amount of raw dumping of nearly 1,000 bitcoins a day, so nearly 30,000 bitcoins a month are not thrown into the market, which is the equivalent of buying 1,000 bitcoins on the market at no cost every day, which is the main reason for the bull market after the last round of halving.
Now that Bitcoin is not growing or even decreasing in number, and the growing number of people who recognize bitcoin and hold bitcoins, the consensus is expanding, which will inevitably lead to long-term value bullishness.
The future rise of Bitcoin is a predictable trend, and after bitcoin’s rise, many undervalued assets will follow.
On June 3rd, TokenInsight released the Exchange Platform Coin Valuation Research Report . . . In June 2020, the report rated the Fire Exchange a’ A and the Huobi Token (HT) as undervalued, with a valuation range of $6.28-$6.94.
According to the announcement of the website of Fire Coin, on June 5, The Fire Coin Global Station launched the HT Position User Experience “C2C Lending Earned Money” 5 fold rebate activity, which is also the activity launched for the continued empowerment of HT and feedback HT holding users after the opening of the “C2C Lending Service” at The Global Station on June 4.
So the price will be high after Bitcoin’s rise, and investors can choose high-quality currencies that are undervalued, such as HT.
Fire Coin Highlights
“Fire Coin Global Station 24 hours trading volume of 14.33 billion U.S. dollars, ranking first in the global exchange comprehensive list” According to non-small data, as of June 2, 20:00 (GMT plus 8), The 24-hour trading volume of The Global Station of Fire Coin was 14.33 billion U.S. dollars, ranking first in the global exchange consolidated list of 24h transactions.
Fire Coin launched HT user C2C 5 fold rebate activities, June will land six enabling combination boxing” According to the official website announcement, June 5, The Fire Coin Global Station launched the HT position user experience “C2C lending money” 5 rebate activities, which is also following the June 4 fire coin global station open “C2C lending service”, for the continued empowerment HT and feedback HT holding users and activities. “June’s warm-up (1/6),” said Mr. Sien, CEO of Fire Coin Global Station.
It is reported that the fire coin will land in June six enabling HT favorable measures, this activity is only a good start. During this event (15:00:00 on June 5 – 15:00:00 on 5 July), the minimum HT position on the day is 1000 HT, and the platform service fee generated by the digital asset borrowed on the same day will be refunded by 50%. C2C Currency Service is a digital asset lending and lending matching service provided to users by The Global Station of Fire Coin, which is divided into two sub-services, Which are lending and borrowing.
CryptoCompare report: In May, the world’s highest record value for crypto-asset derivatives traded, Coindesk cited a new report by London-based data aggregator CryptoCompare, which revealed that trading in crypto-asset derivatives rose 32 percent in May from April to $602 billion, surpassing the record of $600 billion set in March and reaching a new all-time high.
The report showed that the main trading in the encrypted asset derivatives in May came from Fire Coin, OKEx, and Binance. The three exchanges accounted for 80 percent of all derivatives traded in May. The largest deal in derivatives was $176bn, up 29 percent from April.
Blockchain Industry Information
The total market value of the tokens locked in DeFi once again exceeded $1 billion. The total market value of the tokens locked in DeFi exceeded $1 billion three months later.
The number of BTCs locked in Defi exceeded 6,000, and as of June 4, the number of Bitcoin tokens on Ethereum had reached 5,271, and since May 13th it has grown significantly, from 2,600 to 5,200, according to bacon there. If you add more than 900 BTCs in the Lightning network, the number of BTCs locked in Defi is already more than 6,000. At present, there are eight types of BTC locked in Defi, namely, Lightning Network BTC, WBTC, HBTC, imBTC, sBTC, pBTC, tBTC and renBTC.
Greyscale Managing Director: The company’s Bitcoin investment fund has surged from $2 billion to $3.5 billion since April. The flow of money into large crypto-asset managers has been strong during the coronavirus pandemic.
Danny Masters, chairman of CoinShares, said: “When we looked at the inflow of money from our products and another asset manager, we saw that for the first time they were buying more than 150 per cent of the new bitcoins produced during the same period.
“CoinShares has $1 billion in encryption assets. Michael Sonnenshein, managing director of Grayscale, which manages $4bn in encrypted assets, said the company’s bitcoin investment fund had surged from $2bn at the end of the first quarter to $3.5bn on June 2 since April. It comes after it emerged that Grey’s Investments’ Bitcoin Trust (GBTC) has increased its holdings of 18,910 bitcoins since half-term, according to data released by crypto researcher Kevin Rooke. Miners have mined only 12,337 bitcoins since May 11. This means that the amount of bitcoin increased by Greyscale Investment after it was halved for the third time was 150 percent of the total amount mined by miners over the same period. (Reuters)
Vitalik: It’s not realistic to increase the Ethereum gas limit to 25 million. The continued congestion on the Ethereum network has led some developers and community members to call for increased gas restrictions. Some Ethereum builders (e.g. 1inch.exchange) have called for a minimum of 2.5 times the gas cap, from the current ceiling of 10 million gas to the maximum.
In response, V God said: “I don’t think 25 million gas is realistic, if you want to lobby for a higher gas limit, it’s best to target 12-15 million gas.” Although many client developers are even concerned about the risks at these levels.
Wu said blockchain: Sichuan Yunnan Power System has stepped up its efforts to crack down on direct power-supply mines in yunnan provinces, and is working to clean up direct power-supply mines. Among them, Sichuan Issuen stressed the protection of compliance mines, the fight against direct power mines, some of the direct power mines have been lost.
Under the influence of the outbreak, the first quarter of the National Grid profit is negative, the impact of traditional direct power mines, is conducive to the elimination of the demonstration area mines and the interests of the national grid, but for small hydropower and direct power mines is a disaster.
Yunnan Power Grid issued an article on April 13, saying that according to the 134 hydropower plants and 11 thermal power plants included in the provincial balance of the initial screening of the combined power consumption rate in 2019, most of the states and cities connected to the grid comprehensive electricity consumption rate is abnormally high.
The document calls for a comprehensive clean-up of the problem of private power supply in violation of the grid power plant. Sichuan miners Bloomberg are mostly informed that the Sichuan State Grid issued a letter on May 28, asking for regulation and control of illegal plant power supply, but to avoid “one-size-fits-all” norms and governance methods.
Those who meet the policy conditions and are willing to access the public power grid shall do their best to serve them well, and the power supply enterprises of power plants and illegal plants that refuse to rectify the acts of unauthorized direct supply shall be dealt with in accordance with the relevant regulations.
Ya’an Tian County directly released the case of rectification. On June 2, Ya’an Guoguo Net Tianquan County Power Supply Company jointly county bureau, public security bureau and mobile, telecommunications companies, ya’an power grid in the county of Ganxipo power station, foot-based Ping power station illegal access to electrical equipment for Bitcoin “excavation” behavior to rectify. (Wu says blockchain)
U.S. nonfarm payrolls rose 2.509 million in May, a sharply stronger-than-expected 2.509 million U.S. nonfarm payrolls in May, an estimated 7.5 million fewer, or 20.537 million. The unemployment rate was 13.3 per cent in May, compared with 14.7 per cent in the previous month. (First Finance)
OPEC and its allies agreed to extend record production cuts, OPEC representatives said on Friday, as OPEC and its allies plan to extend Bloomberg record production cuts until the end of July, as the world’s leading oil exporters move cautiously to rebalance the oil market as the fight against the embargo eases. International oil prices continued to rise after the news, with Brent crude rising more than 3 percent to $41 a barrel and U.S. oil up more than 2 percent.
Thailand has issued a 1 trillion baht loan to revive the economy, Sukhum Kanchanapimai, executive vice president of Thailand’s Ministry of Public Health, said at a press conference on June 5, affected by the outbreak of new crown pneumonia, the central government of Thailand to restore Thailand’s economic and social development of 1 trillion baht (222.2 billion yuan) loan, 45 billion baht (10 billion yuan) budget for improving Thailand’s health system.
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