Golden Morning Post | Galaxy Digital submits Bitcoin ETF application in the United States.

Headline

▌Galaxy Digital submits Bitcoin ETF application in the United States

Jinse Finance reported that encryption investment company Galaxy Digital submitted an application for a Bitcoin ETF in the United States today, hoping to obtain approval from the U.S. Securities and Exchange Commission (SEC). The firm is the eighth company to file a bitcoin ETF application in the United States. So far, the SEC has been reluctant to approve the traded product. Seven other companies are also awaiting SEC approval.

Market

As of press time, according to Huobi global data:

The latest transaction price of BTC is 59981.20 US dollars, with an intraday increase and decrease of +0.01%;

The latest transaction price of ETH is 2144.85 US dollars, with an intraday increase and decrease of +1.11%;

The latest transaction price of BCH is 674.35 US dollars, with an intraday increase and decrease of +1.32%;

The latest transaction price of BSV is 260.83 US dollars, with an intraday increase and decrease of +1.71%;

EOS recently traded at $6.49, with an intraday increase and decrease of +1.04%;

The latest transaction price of LTC is 245.52 US dollars, with an intraday increase and decrease of +0.54%;

Jinse Finance mining data broadcast: ETH’s network computing power rose by 3.09% today: Jinse Finance reported that according to the data from the spider mining pool:

The computing power of the BTC network is 133.230 EH/s, the mining difficulty is 19.93T, the current block height is 687765, and the theoretical income is 0.00000660/T/day.

The computing power of the entire ETH network is 594.466 TH/s, the mining difficulty is 7583.03T, the current block height is 12642850, and the theoretical income is 0.00263204/100MH/day.

The BSV network computing power is 0.682EH/s, the mining difficulty is 0.09T, the current block height is 691838, and the theoretical income is 0.00131921/T/day.

The BCH network computing power is 2.036 EH/s, the mining difficulty is 0.29T, the current block height is 692356, and the theoretical income is 0.00044199/T/day. [2021/6/16 23:40:10]

DOT's recent transaction price was US$40.62, with an intraday increase and decrease of +2.15%.

Policies

▌President of the United States seeks to increase FinCEN budget by 50% to combat illicit finance

US President Joe Biden has proposed a 50% budget increase for the Financial Crimes Enforcement Network (FinCEN) to fight illicit finance. Under Biden's discretionary budget request, $191 million would be allocated to FinCEN, $64 million more than its original budget for 2021, allowing FinCEN to close "loopholes in financial reporting requirements" that would allow "illegal conduct to “perpetrators” are able to evade scrutiny and oversight. It is reported that FinCEN has previously proposed rules that will force cryptocurrency exchanges to collect KYC information on private cryptocurrency wallets.

Analysis | Golden disk: BTC/USDT long-short stalemate: Golden disk analysts said: BTC/USDT bulls built a line of defense at the gold level of 7270 yesterday, relying on the 2-hour MACD divergence to launch a wave of counterattack in the night market, but subject to the moving average of 36 , It fell back to consolidation near 7400 again, and there is a stalemate between long and short positions. If the 2-hour MACD diverges and rebounds, if there is not enough space, it may take time to make up for it. [2018/8/4]

Blockchain Application

▌Shengang Securities: The introduction of DLT and other technologies into bank IT systems is expected to promote the expansion of blockchain to all fields

Shenang Securities stated that with the maturity of the People's Bank of China's digital currency technology and the improvement of the payment and circulation environment, the bank's IT system will become a pioneer field for the implementation of various technologies. In terms of payment scenarios, supporting windows such as ATM machines and POS machine upgrades will gradually open; in terms of supply chain finance, the introduction of distributed ledgers based on blockchain technology into bank IT systems is expected to promote the expansion of blockchain technology to all fields.

▌Governor of the Central Bank of Brazil: Brazil will soon have news about digital currencies

Brazil's Central Bank Governor Campos Neto said that there will be news about digital currencies in Brazil soon.

Cryptocurrency

Exclusive | Golden Disk Analyst: Adjustment target around 7400 is not yet in place: Golden Disk analysts said that BTC’s 30-minute K-line has gone out of a clear 5-wave decline, and macd has formed a bottom divergence. At present, many parties are relying on technical support to actively build a bottom line of defense , we predict that the 4-wave adjustment target will be around 7400, which is not yet in place, so it is not recommended to participate here. [2018/8/1]

▌Federal Reserve Bullard: Cryptocurrencies are going in the wrong direction

Fed's Bullard says cryptocurrencies are going in the wrong direction as public favors unified FX.

▌The American "Time Magazine" will accept Bitcoin payment and hold Bitcoin

Jinse Finance reported that according to the statement of Grayscale CEO Michael Sonnenshein, the US "Time Magazine" has cooperated with Grayscale to publish a video series around cryptocurrencies. As part of the agreement, Time Magazine agreed to accept payments in bitcoin and add bitcoin to its balance sheet. Earlier in March, Keith Grossman, president of Time Magazine, said on Twitter that the magazine would start accepting cryptocurrencies as payment for digital subscriptions within the next 30 days.

▌Cryptocurrency Open Patent Alliance filed a lawsuit against Ao Bencong for his copyright claim on the Bitcoin white paper

Jinse Finance live report Chen Qiannan, Chief Operating Officer of Chengyun: Blockchain can solve credit problems: Real-time report by reporters from Jinse Chen Qiannan, the operating officer, gave a speech on "Reshaping the New Travel Pattern" at the meeting, saying that in the field of large travel industries, blockchain can be efficient, transparent, and reduce the price difference between middlemen. In turn, travel costs can be reduced, travel efficiency can be improved, and credit problems can be solved. [2018/4/12]

Jinse Finance reported that the Cryptocurrency Open Patent Alliance (COPA) led by Square filed a lawsuit against Craig Wright for his copyright claim on the Bitcoin white paper. The complaint asks the court to resolve questions about whether Satoshi has copyright ownership of the Bitcoin white paper. It is reported that Satoshi Aomoto's representative issued a cease and desist notice to Square on January 21, asking Square to stop hosting the Bitcoin white paper on its website. At the time, COPA issued a legal response on behalf of Square that boiled down to “prove that you are the creator of the white paper, Satoshi Nakamoto.” Wright does not appear to have provided the required certification before the Feb. 19 deadline.

▌Nvidia's division supporting encryption mining expects first-quarter sales of $150 million

Jinse Finance live report Director of Cloud Computing and Big Data Research Institute of China Academy of Information and Communications Technology: Blockchain cannot subvert the Internet: Jinse Finance live report, at the 2018 Blockchain Technology and Application Summit, China Academy of Information and Communications Technology Cloud Computing and Big Data He Baohong, director of the Big Data Research Institute, believes that the blockchain is another "next-generation Internet" since the emergence of the Internet more than 20 years ago. In fact, the blockchain is another big patch of the Internet. The blockchain cannot subvert the Internet. , cannot subvert the world, the blockchain is just a continuation of the Internet, Mr. He also said: "If you think the blockchain subverts the world, it means your world is too small." [2018/3/30]

Nvidia said on Monday that its first-quarter revenue would exceed its previous forecast of $5.3 billion, bolstered by strong demand for data center and cryptocurrency mining chips. Nvidia said its unit that supports cryptocurrency mining expects sales of $150 million in the current quarter, up from a previous forecast of $50 million. Nvidia Chief Financial Officer Colette Kress said demand is expected to continue to outstrip supply for most of the year.

▌Bloomberg senior commodity strategist: Bitcoin still has a long way to go before reaching the peak or plateau of the cycle

Golden Finance reported that Mike McGlone, senior commodity strategist at Bloomberg, believes that with the declining supply of Bitcoin and the strong demand from new investors, Bitcoin still has a long way to go before it reaches the peak of the cycle or the "stable period". He commented: "Still in price discovery mode, the Bitcoin plateau (post-growth plateau) seems nowhere in sight, Bitcoin supply is falling and demand is rising, leading us to expect prices to continue to rise as the cryptocurrency matures and build higher plateaus."

▌NYSE launches NFT commemorating Spotify and other first transactions

Jinse Finance reported that the New York Stock Exchange (NYSE) announced on Monday that it will launch the "first transaction" NFT to commemorate the real firsts of the six stocks Spotify, Snowflake, Unity, DoorDash, Roblox and Coupang on the public market. transaction.

▌Morgan Creek CEO: Bitcoin will not fall to zero again

Jinse Finance reported that Mark Yusko, CEO of cryptocurrency hedge fund Morgan Creek, said that the idea of Bitcoin falling to zero is no longer possible. Yusko said: "We have reached the tipping point of the network effect, and this technology is here to stay. It has a lot to do beyond the value store use case. Now, we will move towards a truly digital and decentralized world, That’s far superior.” Yusko added that on-chain fundamentals point to Bitcoin’s staying power.

▌On April 12, none of the mainstream currencies of Grayscale Trust increased its holdings

On April 12th, US Eastern Time, the changes in Grayscale Trust’s position data are as follows: Grayscale BTC, ETH, ETC, BCH, and LTC Trust did not increase their holdings on that day, GBTC premium rate -8.77%, ETHE premium rate -4.29%, ETCG premium rate -5.18%, BCHG premium rate 386.44%, LTCN premium rate 1061.14%.

▌William Lee: Whether Bitcoin can break through to a new high depends on the monetary policy tone of the world's major central banks

Li Weilian, chief researcher of OKEx Research Institute, which focuses on digital asset research, believes that since the start of the "bull market" in October last year, Bitcoin has risen nearly five times. Judging from historical experience, for Bitcoin, which has a 4-year "bull-bear" cycle, this round of "bull market" is long enough. According to Li William's analysis, the current price of Bitcoin has entered a stage of sideways adjustment, and the market's expectations for future trends have diverged. The differences are mainly due to two factors: first, whether the loose monetary policies of major central banks around the world can continue, and whether the global economy will still face the problem of rising inflation in the future; There will be breakthroughs brought about by new technologies and business models, which is uncertain. Whether virtual currencies such as Bitcoin can continue to rise in the future, or even break new highs, depends on the monetary policy tone of the world's major central banks in the second half of the year and whether they can open up new applications.

Key Economic Developments

▌U.S. 10-year treasury bond issuance winning bid yield is the highest in more than a year

The U.S. Treasury issued another $38 billion in 10-year Treasury bonds, with a bid yield of 1.680%, the highest since January 2020; the pre-issuance yield was 1.678% when bids closed at 1 p.m. ET. Market reaction was muted, with 10-year yields up about 1.3 basis points on the day. Primary dealers won 24.2%, slightly lower than last time; the proportion of indirect bidders rose to 59.6%, and the proportion of direct bidders fell to 16.2%. The bidding multiple was 2.36 times, and the average of the first six renewals was 2.43 times.

Golden Encyclopedia

NFT: The full name is non-fungible Token, and the Chinese name is translated as non-fungible token (or non-fungible token). It is opposite to homogeneous tokens, so it is generally explained with the help of homogeneous tokens.

Most of what we usually see are homogeneous tokens, such as BTC, ETH and so on. In contrast, non-fungible tokens are different from each other. The most typical one in the cryptocurrency circle is crypto cats. Although they are all virtual cats, different cats have different characteristics such as algebra, fur color, rarity, etc., and the prices for selling are also different. Some are priced at 750,000 (equivalent ETH), and some are worth only a few cents, they are not the same as each other, nor can they be replaced. Many non-virtual items are also non-homogeneous. For example, air tickets on the same flight are divided into economy class, business class, first class, etc. Wait, there are also differences.

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