71 total views
The BTC market remains above $45,000. Some altcoins like ADA rallied. According to on-chain data, the amount of bitcoins deposited as well as withdrawn is unremarkable. A share from Minkyu Woo shows that, since May when BTC plummeted to $30,000, there has been BTC purchased but no obvious signs from whales. However, long-term investors do not move bitcoins but they continue to trust the market and accumulate BTC.
In the past few days, the amount of BTC deposited and withdrawn is almost the same, so the price has not been reduced due to profit taking. BTC price is up but miners are not selling either. Will Clemater shares on-chain data from Glassnode showing that the amount of BTC pushed to the exchange and withdrawn from the exchange by miners is almost equal. Miners are still accumulating BTC, which is not a good price for them to sell BTC right now.
After a while, the BTC mining speed was reduced by the mining association in China being suppressed by the government of this country and moved to another place. Recently, miners in China moved to a new place where they could settle down and continue mining. Or mining associations in other countries, especially the United States, have stepped up to expand the BTC mining market share. Currently, the mining association with the largest market share is Foundry USA.
The fact that China suppresses miners also makes mining guilds no longer concentrated in this country. At the same time, it helps to remove bad news related to the risk of China acquiring mining clubs. The trend of mining clubs in the US using green energy is increasing. It will help BTC get more accepted.
Currently, major US media channels no longer carry FUD or negative information about the crypto market as before. Other good news to invite about crypto are crypto investors as well as crypto companies. The news is that BTC is gradually being accepted, developed and gradually becoming a part of the financial market.
Shark Tank host and investor Kevin O’Leary has become the official spokesperson for Sam Bankman-Fried’s crypto exchange FTX and will be paid in crypto and receive shares of the company. company as part of the agreement. In his portfolio, crypto has also made up 7%.
Kevin O’Leary also said that the price volatility is not his concern but the legal issue related to crypto needs to be clear. Legal is the main reason why many companies hesitate to invest in crypto.
Currently, more and more banks have invested in the crypto market. A new report from blockchain research firm Blockdata shows that more than half of the world’s largest banks are reaching out to crypto and blockchain companies.
The company said that of the 100 largest banks by assets under management (AUM), 55 of them have investments in crypto or blockchain-related businesses, either directly or through public companies. subsidiary.
Topping the list is British international bank Barclays with investments in 19 blockchain companies, followed by US investment bank Citigroup with nine investments, global investment bank Goldman Sachs with eight, and US investment bank Citigroup with eight. financial services and investment bank JPMorgan Chase with 7 accounts and French international bank group BNP Paribas with 6 people.
Next, 23 of the top 100 banks have been providing direct crypto-related services such as crypto-asset custody, for customers to invest in crypto, etc.
Witness cryptocurrency exchanges with huge profits while the number of employees is only a fraction of banks. This started in early 2018, when Binance, the leading exchange at the time, recorded $54 million more in profit than Deutsche Bank while the exchange only had 200 employees and the bank had only 200 employees. up to 100,000 employees. Or recently, the valuation of Coinbase company is higher than Goldman Sachs while the number of employees is only 4% of this bank.
Mexican billionaire and third-richest person Ricardo Salinas Pliego has confirmed his bank Banco Azteca will soon accept BTC. At the same time, it will be the first Mexican bank to accept BTC. Ricardo himself has also converted 10% of his portfolio to Bitcoin.
The above causes banks to pour into the crypto market. This is inevitable because banks see great profit potential from this market. If a bank does not provide crypto services when customers need it, they will lose customers and become more competitive.
Recently, although the signs of large companies investing in crypto are not clear, their cash flow has invested in a different way. Instead of directly buying crypto like BTC, ETH, etc., big companies are pouring huge cash flow into crypto or blockchain related companies. Or the BitDAO project has also successfully called for capital of 230 million USD.
DAO (decentralized autonomous organization) – decentralized autonomous organization, all operations are based on smart contracts (smart contacts). BitDAO is a new decentralized autonomous organization, launching after a $230 million funding round led by billionaire venture capitalist Peter Thiel. This project is invested by many famous investors such as Thiel, Pantera Capital, Dragonfly Capital and Founders Fund.
BitDAO is operating as an investment fund, when investors invest in this project they will receive BitDAO coins. When a project wants to raise capital through BitDAO, the participants and holders of this token will have the right to vote whether or not to invest in that project.
► Join the support team and the most prestigious Exchanges with exclusive deals with CHK
#Money #Pouring #Crypto #Market