The total supply of stablecoins has increased by nearly 70% in 3 months
In recent months, demand for stablecoins in the cryptocurrency market has seen unprecedented growth. Since February 5 this year, the total supply of stablecoin has increased from US$5.68 billion to US$9.62 billion, an increase of 69.4%. It is not clear whether the new supply comes from new demand or whether users want to convert existing cryptocurrencies into stablecoins. Tether remains the most popular stablecoin so far, currently accounting for more than 84% of the entire stablecoin supply, with USDC and PAX accounting for 7.4% and 2.6% of the shares, respectively.
11 mainstream exchanges monitored in the past 24H, USDT wallet recharged 1.421 billion yuan, withdrew 1.571 billion yuan, with a net withdrawal of 151 million yuan in 24H, with a net withdrawal of 1.1 billion yuan in the past 7 days.
15 million USDTs were transferred from the Tether Treasury wallet, worth 15 million USDTs were transferred from the Tether Treasury wallet to the address starting at 0x7ea9, calculated at the current price, worth about 15 million USDTs, and the transaction hash is: 0xb50d0fdd145690c3682ece4981c35fec183cdfc65bb8f7cba096bf723a522d41.
30.021 million USDTs were transferred to Binance Exchange
According to WhaleAlert data, at 09:56 on May 5, Beijing time, 30.021 million USDTs were transferred to Binance Exchange from the address starting with TNMDwb. According to the current price, the value is about 30.296 million USDTs were transferred to Binance Exchange. According to the current price, the value is about 30.296 million USDTs, and the transaction hash is: 3942b8bbff21763de9692697a9067ef50912a47e80b0c0df6d5ae083443d5453.
The number of addresses of Baidu index and mainstream coin wallets may indicate that Bitcoin is gradually moving towards Volkswagen
When the price of Bitcoin fluctuates greatly, the search index, information index and media index all show signs of rising simultaneously, indicating that Volkswagen has a certain sensitivity to the price of Bitcoin. According to its analysis data, the number of active addresses of Bitcoin and Ether continues to grow this year. As of May 3, the number of valid active addresses of Bitcoin was 771,000, an increase of about 10% from the beginning of this year (January 1). The number of active addresses in Ethereum is 366,000, an increase of about 23% from the beginning of this year (January 1). The number of addresses of Baidu Index and mainstream coin wallets may indicate that Bitcoin is gradually becoming popular this year. With the halving market, the search popularity of digital currency will continue to increase, which will have a positive impact on the development of the industry.
Bitcoin was originally a blue sea, but now it is red because of the lack of new users and regulation. The laws of the jungle are becoming more and more common. If you don't like this cruelty, but trust Bitcoin, hold (HODL) and wait for new breakthroughs that will or will not bring.
As a long-term asset, Bitcoin is better than US dollar, gold, bonds, real estate, insurance, and lottery. It is the best asset to hold for a long time because it is a license-free, plunder-resistant, censor-resistant and reliable asset.
Even if 50% of miners shut down operations "Bitcoin network remains secure"
If the total transaction fee increases, subsidies can be provided to miners, and the value of the fee will be commensurate with the security of the network. In addition, there are concerns that miners will surrender after halving. If many speculate that if profit rates are low, miners may shut down operations, which could seriously damage Bitcoin’s cybersecurity. But even if they stop mining, Bitcoin will have a completely healthy level of security. He said the entire network will remain secure even if half of the miners stop operating.
The profit margin of the old generation of ASIC is being squeezed out by the new generation of miners GPU mining machine revenue will be gradually phased out
Recently, Tokeninsight released the "Cryptocurrency Mining Research Report for the First Quarter of 2020". The report noted that the first quarter of 2020 was a very unstable period for Bitcoin, with a hash rate range of 100 EH/s, briefly touching about 70 EH/s. The profit margins of older generation ASICs, such as the Antminer S9s, are being squeezed out by the new generation of miners. Prior to March, ASICs' profit margin remained at around 35%, but when the market crashed in March, the profit margin quickly turned negative and partially rebounded to an average of 20% in April 2020.
ASIC is dominant in the market, while Bitmain is still in the lead.In the near future, the Bitcoin network will experience a chaotic period in the near future to adjust itself back to equilibrium after halving and ultimately achieve a more efficient blockchain network. Although the new mining machine models released in the first quarter of 2020 decreased by nearly 60% compared with the fourth quarter of 2019, they are still the largest in number compared with the first quarter of the past three years.
At present, the main entities that adopt structured financial products are institutional investors. Western mines are utilizing various strategies to reduce production costs and sell Bitcoin at preferential prices. Affected by the delivery of ASIC mining machine Mars H1 in the second quarter of 2020, revenue from GPU mining machines will continue to decline, and will be phased out after ASIC fully enters the Handshake network in the second quarter of 2020.
