LUNA has been sacrificed, and many people have surrendered.

In a few days, UST and LUNA both returned to zero, which attracted the attention of the US regulators. Treasury Secretary Yellen said at yesterday's meeting that stablecoins should be regulated. The chairman of the SEC reiterated that cryptocurrencies are securities and must be regulated. The cryptocurrencies that were once in the top five in market value collapsed in minutes, which has a huge impact on market confidence. Today it is LUNA and UST, so who will it be tomorrow? After all, crypto assets are illusory. It is difficult for most people to understand what is behind the technology, which will make many people lose faith and surrender to the market in panic. At present, the chairman of the International Organization of Securities Commissions also said that the global crypto joint regulatory agency may be launched next year. At present, only the global joint introduction of a crypto regulatory framework can truly complete the regulation of cryptocurrencies, but for those who exploit legal loopholes, there will still be opportunities. I hope that joint supervision will come soon, which will increase institutional investment quotas, help investors have confidence in the market, and prevent projects like LUNA from bloodbathing people's wealth. At least his failure should give investors some compensation.

LUNA's main ecological tokens have basically been removed from the major exchanges, and its own network has also announced its suspension, and is considering issuing new LUNA tokens. Currently, the asset management company GAM has announced negotiations with LUNA and is expected to invest US$2-3 billion to support UST. Let's wait and see the final negotiation results. This kind of zeroing is likely to be irreversible, and a blockchain network that can be stopped at will has nothing to do with blockchain at all. It is a completely centralized network.

This also caused a number of Defi lending protocols (platforms that support LUNA mortgages and use LINK oracles) to be caught in the crossfire, because the oracle LINK did not continue to feed prices after the blockchain network stopped, resulting in unreal-time price updates, causing borrowers to use extremely low-priced LUNA to borrow other assets at a price of 0.1, causing huge losses to the lending platforms.

USDT was tested by the public for its stability. Although it was decoupled by more than 10% in a short period of time, it quickly returned to the anchor. On-chain data showed that 3 billion USDT were transferred to Tether in one day, which should all be done by arbitrageurs. A large number of runs on Tether were quickly redeemed at $1. The CTO said that their main supporting assets are US Treasury bonds, which are extremely safe and can be redeemed quickly in the short term. In the future, the proportion of commercial bills will be reduced and more US Treasury bonds will be purchased. The stablecoin turmoil has come to an end.

Brazil's largest broker XP will launch a cryptocurrency trading function. It will open its own cryptocurrency exchange at the end of June, allowing its 3.5 million users to buy and sell Bitcoin and Ethereum. This will better help Brazilian investors enter the market.

Japanese financial giant Nomura Holdings has begun to provide Bitcoin derivatives trading to Asian clients. Everyone knows that contract exchanges are the most profitable, and traditional finance has also quickly penetrated into them. In the future, there will be a group of traditional whales on the contract track, and trading difficulty will rise again.

Grayscale Bitcoin and Ethereum Trust discounts hit record highs.

Bitcoin -30.65%, Ethereum -33.71%. Those who bought Grayscale Trust are really unlucky. Now they can’t exchange it back. If they want to sell it, they will lose 30%. I hope that Grayscale’s Bitcoin spot ETF can pass the test, otherwise these investors will defend their rights and Grayscale will be very sad.

Wood Sister believes that emerging technologies such as blockchain are now in the deep value zone. This sister is crazy about emerging technologies. The future of the world depends on technology support. If you don’t buy undervalued technology assets, do you have to buy those sunset traditional industries?

Franklin Templeton, an asset management giant with $1.5 trillion, plans to provide related cryptocurrency ETF products after the regulations are clarified. Another super giant has begun its layout. In the future, as long as the regulatory dust is settled, the bull market will catch you by surprise.

The author of Rich Dad Poor Dad, Kiyosaki, plans to buy Bitcoin at 17,000 and is firmly optimistic about Bitcoin. Legendary investor Bill Miller said that he sold some Bitcoin for liquidity needs, but he is still optimistic about the long-term value of Bitcoin. Many big players have been forced to surrender. It will be very difficult to copy Bitcoin at a lower price in the future. Leaving them behind will make it easier to go into battle.

Panic 10, extreme opportunity area.

Coin News:

Bitcoin: Yesterday's plunge caused old Bitcoin holders like Microstrategy to suffer floating losses, which often means that the decline is coming to an end. The rebound is not over yet, and the upward attack will continue if the hands are changed around 30,000.

Ethereum: Due to the large amount of Defi being liquidated, the selling pressure on ETH will be greater. This is normal in every crash. It will rise again in the future, so there is no need to worry.

MKR: The official statement stated that its DAI is fully overcollateralized. DAI is a very mature stablecoin. As long as there are no code loopholes in the protocol and there are no extreme market conditions, there is basically no risk. It should be able to rise again due to this, after all, it has been verified by time.

WAVES: The inclination of its stable USDN pool on Curve has also reached the warning level, but the model of WAVES is different from that of LUNA, so it will not spiral like LUNA. However, this inclination will also cause selling pressure on WAVES, and it may be hit by another wave of panic trading.

LUNA has been sacrificed, and many people have surrendered. Those who survive will see the rainbow soon.