Bitcoin: This position can strongly stop the decline

The President of Uzbekistan has issued a crypto regulation that defines terms such as crypto assets, exchanges, and mining, identifies the main regulator of the industry, and citizens will be able to buy, sell, and trade cryptocurrencies from 2023. Another new country has supported the crypto world, and we can see that adoption in various countries is entering a state of blossoming.

The trading volume of Bored Cat NFT yesterday surged by more than 100% month-on-month. Among them, Cai Wensheng, Lin Jiapeng§, Zhang Lele and many other old domestic currency circle people participated in the takeover. The current floor price is still above 120ETH. The previous highest has exceeded 160ETH. Due to the launch of Otherside of the Metaverse, many participants have FOMO emotions and hope to get the core plot of the Metaverse. Although the wealth effect of the currency circle is endless, the final result is actually not much different. This monkey picture has risen nearly a thousand times in more than a year. It is hard for madmen to imagine how it can rise, but madmen know one thing. Those who understand NFT and can take out 3 million yuan to take over, at least have tens of millions or hundreds of millions of assets. How many such rich people are there in the world? How long can such a consensus last? Maybe it's time for the bubble to collapse for a while. The result of all this is the same as IC in 2017. It just took away your Ethereum in disguise. Finally, looking back a few years later, it was found that the ever-victorious generals are still Bitcoin and Ethereum.

The capacity of the Bitcoin Lightning Network has exceeded 3,700 bitcoins, setting a new record high. The more nodes and capacity the Lightning Network has, the more beneficial it will be to Bitcoin's future payment system and efficiency. Currently, many exchanges support Bitcoin Lightning Network transactions, such as larger exchanges such as Robinhood, Kraken, Bitfinex, Bitstamp, OKX, etc. In the future, the transaction fees on the Bitcoin chain will be greatly reduced, laying a good foundation for small payments and inclusive finance.

Wikipedia stopped accepting cryptocurrency donations and also stopped Bitpay payments to prevent cryptocurrencies from being used as a means of donation. The logic behind the stop is simple. Cryptocurrency donations in the past year were only $860,000, accounting for 0.08% of its total. The main reason is that the proportion is too small and not very meaningful. In the future, as the adoption rate of cryptocurrencies expands, I believe that Wikipedia will regret this decision and accept cryptocurrencies again.

Opensea's trading volume yesterday was $333 million, up 253%, and Looks Rare's trading volume exceeded $80 million yesterday, setting a new record. If nothing unexpected happens, these two companies will be the future NFT head exchanges. There may be new disruptions in the future, but this time advantage is extremely important.

Dubai businesses accept cryptocurrencies as a future payment method. For businesses in the UAE, under the protection of a policy hotbed, they must be happy to accept encrypted payments. After all, its convenience and adoption rate are increasing, and there is no other loss for the merchants themselves.

Equinox, a luxury fitness club in the United States, will accept cryptocurrencies for payment by cooperating with Bitpay. The higher the adoption rate, the larger Bitpay's pool in the cryptocurrency will be, the smaller the circulating market will be, and the more conducive it will be to rising prices.

Panic 28, eased somewhat.

Coin News:

Bitcoin: The strong ability to stop the decline at this position shows that funds have a certain expectation for the opening of the U.S. stock market today. With the continuous acceleration of the plunge, the short sellers of the U.S. stock market should take a break. Therefore, it is expected that the price will re-attack 40,000 tonight and fluctuate around 40,000 again.

ETH: Still linked to the market, and is expected to be strongly linked again.

ENS: The total number of registered domain names exceeded 1 million, and the daily transaction volume increased by 10.96%. This increase is difficult to support the continued strength of the current currency price. It is expected that it will take some time to see whether the number of domain names can continue to grow effectively before we can judge the possibility of continued strength in the future. It is not advisable to chase high prices at the moment.

XRP: The SEC hopes that the lawsuit with XRP will be completely concluded before Christmas. This advance is good news for XRP. After all, it has been suffering for several years and the price of the currency has been under the shadow of this lawsuit. When the case is concluded, if there is no huge negative impact on XRP, there will undoubtedly be a compensatory rise. In the second half of the year, there will be funds entering in advance in order to speculate on expectations.