whitecoin(xwc):Monday, June 22 morning news
Text2020-03-06 11:06:58


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1. BTC breaks through the $9,400 mark, with a daily increase of 0.15%

BTC rose short-term, breaking the 9400 US dollar mark, the current price of 9400.1 US dollars, the intraday increase reached 0.15%,Market volatility is large, investors should pay attention to risks.

2. COMP is about to launch Coinbase, the price has soared more than 100%

According to the latest report of blockchain analysis company Chainalysis, only 3.5 million bitcoins (about 19% of the total supply) are currently used for transactions. According to the report, as of June 2020, nearly 18.6 million bitcoins have been mined, most of which have been held for a long time. 20% of Bitcoins have not moved in at least five years. The rest is mainly used for transactions between exchanges.Chainalysis said that this amount provides the market with momentum and helps determine the price of Bitcoin. The report shows that as bitcoin becomes more scarce, bitcoin held by long-term investments may eventually become an important source of market liquidity.

3. Chainalysis: currently less than 20% of the Bitcoin supply is used for trading

South Korean Finance Minister Hong Nanji said on June 17 that South Korea plans to impose tariffs on cryptocurrencies, and South Korea will announce its decision on taxation of cryptocurrencies in July. Hong Nanji added that we have been working hard to establish a new tax system to adapt to changing conditions. A new tax system for various projects and taxes is currently being developed.

4. Longhash: The explosive growth of the Bitcoin options market may have an impact on the volatility of the Bitcoin market

On June 17, Longhash stated that in the third quarter of 2020, the Bitcoin options market experienced explosive growth. Prior to the beginning of 2019, the Bitcoin market was mainly occupied by spot and futures exchanges. Subsequently, the trading volume and open contracts of investment institutions such as the Grayscale Bitcoin Trust Fund and option exchanges such as Deribit have experienced rapid growth. According to Skew data, as of June 15, the total value of open contracts in the options market hovered above $1.5 billion. Specifically, Deribit has $1.1 billion in open positions in the options market, accounting for about 70% of the market. The volume of CME bitcoin options products also reached a record high in May. According to Skew, CME is expected to continue to break through its all-time highest monthly volume in June. If 2018 and 2019 are dominated by retail investors in the spot and futures markets, professional traders and institutions may account for a large portion of bitcoin trading volume in 2020. Data from major financial institutions such as options and the institutional market and Goldman Sachs indicate that trading activity among professional and institutional investors is increasing. This change in trend may also affect the volatility of the Bitcoin market in the long run.


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