Encrypted market wealth-making campaigns have emerged one after another, and exchanges have resorted to "three axes"

Anti-cyclical assets such as exchange platform tokens and DeFi tokens have successfully resisted the market downturn in the recent plunge in cryptocurrency prices, and this outstanding performance has also attracted more and more attention. As an important part of the encryption ecosystem, top CEXs and DEXs have played a huge role, so which assets and projects are most worthy of attention? On May 13th, Tesla CEO Elon Musk tweeted a tweet titled "Tesla & Bitcoin", which wrote - "Out of concerns about the impact of Bitcoin on the environment, Tesla Suspend bitcoin payments. Cryptocurrency is a great idea and we believe it has a bright future, but it cannot come at a huge environmental cost. Tesla will not sell bitcoin once it transitions to sustainable mining methods Energy, we will continue to use it for transactions. We are also considering using cryptocurrencies with lower energy consumption (<1% of Bitcoin energy consumption). "The influence of the world's richest man is beyond doubt. Two hours after the tweet was released, Tesla’s official website removed the bitcoin payment option, and then, the price of bitcoin “waterfalled”, falling from a high of nearly $60,000 to a range of $50,000. Even more "scary" is that this decline does not seem to rebound as quickly as the previous few times. On May 17, the price of Bitcoin fell again. According to data from Coingecko, it had fallen to $44,960.40 when this article was written, with a drop of 22.6% on the 7th and 26.7% on the 30th. However, when the cryptocurrency market was severely frustrated, the platform tokens of the leading centralized cryptocurrency exchanges (CEX) including Huobi, Binance and OKEx, and the DeFi tokens of some decentralized exchanges (DEX) It has not been affected too much by this market turmoil. At the same time, in the process of market correction, the correction range of these types of tokens is also in a leading position. IMF report: Encryption market sell-off will not affect global financial stability: News on July 26, the International Monetary Fund (IMF) stated in a report on Tuesday that the collapse of the cryptocurrency market will not affect global financial stability. Still, the report raised serious concerns about the global economy. The IMF said that considering the continued impact of the Russia-Ukraine conflict and the new crown epidemic, the world economy is being hit by high inflation and may experience the second recession in more than two years. However, markets that are separated from traditional banks, such as bitcoin, do not appear to be a cause for concern, the report said. "So far, the spillover effects (of the crypto market) on the wider financial system have been limited," the IMF said, noting that "large-scale sell-offs have resulted in large losses for cryptocurrency investors." (CoinDesk) [2022/7/27 2:39:27] On the whole, compared with the decline of Bitcoin, the "king of cryptocurrencies", the recent performance of exchange platform coins is not bad. Now that the market fluctuates significantly, everyone is worried that the bulls and bears will switch too quickly, so one of the questions they will think about is "what assets have strong anti-cyclicality". The top exchange platform tokens and DeFi tokens can be regarded as obvious anti-cyclical assets. Although they cannot match the surge at the beginning of the year, the current overall performance of these tokens is still better than the market. 1. Looking for signals from the data The table below compares the platform currency market performance of three leading centralized cryptocurrency exchanges (data from Coingecko, data extraction time 22.08, May 17, 2021): BitMEX postponed the launch time of BMEX Token, Waiting for the improvement of the encryption market: On July 12th, according to BitMEX’s official Twitter, BitMEX decided to postpone the launch of BMEX Token in its spot trading market. The reason is that the current market conditions are not ideal, and BitMEX hopes to let BMEX go online in an environment where holders can get rewards. [2022/7/12 2:07:03] We also compared the performance of the DeFi token market of leading decentralized exchanges (data from Coingecko, data extraction time 22.08, May 17, 2021): Generally speaking , the performance of the platform currency can basically be regarded as a "barometer" of the operation and value of the cryptocurrency exchange. Its value depends on the value of the exchange itself and the ecological construction of the platform. The higher the popularity of an exchange, the greater the trading volume. 1. The better the ecological construction, the higher the value of the platform currency will naturally be. On the contrary, if the popularity of the exchange declines, the transaction volume is sluggish, and the ecological construction is poor, the price of the platform currency will definitely decline accordingly. The data will not lie. From the analysis in the table above, it can be seen that Huobi HT is the platform currency with the best performance among the three major exchanges recently, and the 7-day, 14-day and 30-day growth indicators are all positive. In contrast, the 7-day and 14-day gains of Binance BNB are negative, and the 14-day gains of OKB are negative. Although the 30-day rise of HT is slightly lower than that of OKB, it is still rare to maintain a positive trend in the near future. Increased platform currency. Voice | Red Chain Capital Li Yongmin: The encryption market is already in the midst of halving: At 20:00 on February 5, Li Yongmin, the founder of Honglian Capital, was a guest at "See you on Matcha on Wednesday" to share his views on the halving market. Li Yongmin said that the encryption market is already in the midst of a halving market, and it is recommended to invest in Bitcoin regularly and make good use of new investment tools such as leveraged ETFs. Red Chain Capital's business covers various businesses including private equity funds, investment consulting, asset management, blockchain technology investment, wealth management, and corporate industry incubation, and has initiated multiple government industry funds and listed company M&A funds. "See you on Matcha on Wednesday" is a community AMA activity launched by MXC Matcha. Guests are invited to share on Wednesday from time to time. [2020/2/5] It is worth mentioning that Huobi has destroyed a total of 5.615 million HT (approximately 104.269 million USDT) in April. A total of 265.73 million HT were destroyed. Generally speaking, when the market environment is not good, destroying platform tokens and reducing the total amount will bring deflationary expectations to users, which also means that there is potential for value-added. However, in terms of transaction volume and visits, Binance performed better, while Huobi and OKEx were roughly on par (as shown in the chart below). In fact, the recent performance of Binance BNB has also attracted attention. It has basically consolidated its position as the third largest cryptocurrency in market value. , BNB has played an icing on the cake in the Binance Smart Chain ecosystem. From the current point of view, the Binance Smart Chain ecosystem has captured a group of loyal users, who are basically BNB staunch holders and platform supporters, and have recently benefited from the rise in BNB prices. It has to be said that as the most important part of the cryptocurrency and blockchain ecology, exchanges can always bring new directions to the market. This time, the platform coins of some leading exchanges can withstand the decline of the market The impact is largely due to the fact that they have already laid out in advance, and they have also brought many tangible benefits to users. While benefiting users, they have also injected new potential energy into their own development. Voice | Nexyst founder: Encryption market will bring unknown risks to institutional investors: According to bitcoinexchangeguide, in an interview with CNN Crypto Trader, Nexyst founder Dimitri Sogoloff said that Bitcoin and the encryption market are brand new, and now, the market expects Institutions and new investors enter the space and start investing in digital assets. But institutional investors are hesitant to invest in the crypto space due to concerns about the risks associated with cryptocurrency operations and infrastructure. Investment institutions cannot quantify the total risk of asset classes, and users cannot use actual numbers to link any investment risks. He also said the agency would not deploy large sums of money in the area. There could be an investment of 1% to 5% over the next few years, he said. [2019/3/14] 2. Exchanges resorted to the "three tricks" The contrarian performance of the platform currency is actually related to a series of all-round "wealth creation campaigns" they have launched recently. The starting method of the exchange's "wealth creation campaign": Lay a solid foundation for compliance. Frankly speaking, the "rich-making movement" of cryptocurrency exchanges has not been aggressive. The first thing they value most is to lay a good foundation for compliance. Taking Coinbase as an example, since its listing in April, its compliance has been recognized by regulators, because any company listed on Nasdaq needs to be approved by the US Securities and Exchange Commission. In terms of compliance, the overall performance of Huobi, another leading cryptocurrency exchange, is not inferior: On August 3, 2020, Huobi Asset Management (Hong Kong) Co., Ltd., a wholly-owned asset management subsidiary of Huobi Technology, obtained the Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses issued by the Hong Kong Securities Regulatory Commission, which have come into effect on March 3, 2021; Voice | eToro Senior Analyst: The encryption market is related to the stock market in the short term The sex is getting weaker: According to CCN, the US stock market continued to rise before the opening bell on Friday, with the Dow rising by three digits and its sister indexes also bullish. However, with the cryptocurrency market showing a lack of conviction, there was little momentum for Bitcoin to join the day's rally. Mati Greenspan, senior market analyst at eToro, said the stock market rally has not extended to bitcoin or other cryptocurrencies, which are increasingly "indifferent" to what is happening in the broader financial markets. Short-term correlations between Bitcoin and gold, the U.S. dollar and stocks are all close to zero. [2019/1/18] On August 24, 2020, Huobi Wallet Hong Kong Limited, an indirect wholly-owned subsidiary of Huobi Technology, obtained a Hong Kong Operating Trust or Company Service Provider (TCSP) license to operate trust or company services in Hong Kong business; on December 22, 2020, Huobi Trust Company (Huobi Trust), an indirect wholly-owned subsidiary of Huobi Technology, obtained a trust company license from the state of Nevada, and can engage in business operations under Chapter 669 of the Revised Statute of Nevada and its regulations and trust company business as defined in the Regulations. In addition, Binance, another leading cryptocurrency exchange, also attaches great importance to compliance. Although it was reported that it was investigated by the US Internal Revenue Service some time ago, it is also cooperating with regulators and law enforcement agencies around the world to establish A robust compliance program that includes anti-money laundering principles and the tools financial institutions use to detect and address suspicious activity. The exchange's "wealth creation campaign" has two tricks: to accelerate the listing of high-quality coins. On the basis of compliance, the listing speed of mainstream cryptocurrency exchanges has been significantly accelerated. Coinbase has added a number of new tokens to its trading platform since its successful listing, such as TheInternet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR) and Tellor (TRB) in early May. ). Recently, Huobi Global also officially announced the integration and establishment of a new asset center (Listing BU), which is mainly responsible for asset-side work, including listing and listing, asset evaluation and scoring, asset operation, etc. This department aims to serve all Huobi global users Select high-quality digital assets, and carry out full life cycle services and standardized management of listed currency assets, helping the industry to develop in the direction of compliance and standardization. At the same time, the new asset center will also provide more industry resource support for the project, including Huobi Global's market and community resources, technical guidance, contract security and compliance opinions, etc., to fully support the progress of the project and promote the development of industry compliance . On this basis, Huobi has gradually increased the speed of listing new coins recently, and the quality of the listing has also been further improved. For example, the market performance of encryption projects such as O3, XCH, ICP, CSPR, and LAT is not bad. Ciara Sun, Vice President of Huobi Global Business and Head of Asset Center Ciara Sun will say that Huobi Asset Center will focus on promoting more high-quality assets to be listed on Huobi Global, so as to realize the transparency of the currency listing and listing process, and provide information on the process. Control, standardize asset evaluation standards, and eliminate any form of "rat warehouse" behavior, in order to protect the interests of Huobi users and reshape the corporate image. Not only will the project be evaluated in terms of application prospects, technical strength, core team, investment institution background, and compliance risks, but it will also fully consider the community reputation and popularity of the project, fully consider the needs of community users, and conduct multi-dimensional project scoring and screening . The three fires of the "rich creation movement" of the exchange: use the public chain to empower the platform currency. The construction of ecological fundamentals such as compliance and currency listing has become more and more important, but at the same time, leading cryptocurrency exchanges have also begun to view market development with a predictable and overall strategic perspective. In fact, since 2020, the exchange public chain has become the focus of the industry, and has also become a key weapon for exchanges to upgrade their competition. On the basis of high-performance public chain support, cryptocurrency exchange platform currency has begun to show its strength. Taking Huobi as an example, it can be seen from the recent rise of HT against the trend that the platform currency has become an excellent way to empower the public chain. The Heco ecological chain itself is a concentrated expression of the ecological potential of Huobi, and at the same time it is complementary to the platform currency HT , the latter can provide financial, flow and resource support for the Heco ecological chain; the healthy development of the Heco ecological chain and the continuous empowerment of HT can improve the application scope and market demand of HT, and the final siphon effect will Let HT feed back the Huobi ecology. From the current point of view, among the three "HBO" exchanges, Binance and Huobi have become the leaders in the field of exchange public chains-according to the official data of Binance Smart Chain, as of May 16, 2021, the total transaction volume on BSC 475,754,580 transactions, based on 261 days of online trading, the average daily transaction volume is about 1,822,814 transactions; according to the official data of the Huobi Heco ecological chain, as of May 16, 2021, the total transaction volume on Heco is 314,935,875, based on 166 days of online trading, The average daily transaction volume is approximately 1,897,204 transactions. Judging from the above comparative data, although the Huobi Heco ecological chain has not been online for as long as the Binance Smart Chain, the average daily transaction volume has successfully surpassed, and it is currently the largest amount of locked mainstream assets on the chain, the largest number of active-zce users, and the development One of the fastest exchange public chains.

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