Ethereum chartTowards the end of the month, both Altcoin buying and selling volume declined. Traders seemed to perceive that many Altcoins performed comparable to BTC, or even surpassed BTC, so the downward trend in Altcoin sales was stopped. As traders have reservations about Altcoin trading, people began to discuss whether Altcoin's recovery and BTC's decline in dominance heralded a more important trend. Nevertheless, ETH trading volume is still relatively large, mainly occurring during the period when its price is below $170. Will BTC stabilize in February? Can Altcoin continue to fight BTC? We will wait and see.
The most influential result is that Dai abdicated as the king of DeFi stablecoins. Due to the addition of centralized assets, coupled with the practical difficulties encountered in dealing with vacillating anchors, Dai's competitiveness has declined. USDC took advantage of opportunities to develop during this period and is now one of the most liquid stablecoins in DeFi.
Since 2013, most of the top 20 tokens by market capitalization have almost completely disappeared, replaced by new assets. Projects like Namecoin, Peercoin and Feathercoin were replaced by Ethereum, Monero, and EOS. Those once smashing projects have not only disappeared from the memory of the cryptocurrency community, but some have been completely abandoned. Their token prices have fallen repeatedly or have lost liquidity on the exchange.
The company also found itself involved in other controversies this year. In September of last year, in a nationwide protest against police brutality and institutionalized racism, the company’s CEO Armstrong published a blog post stating that the company would not be involved in social or political issues, but would only focus on To produce products. It offered contract buyouts to employees who did not agree with this value; about 60 people have since left the company.
In fact, as early as more than 400 years ago, based on the study of the dual standard system of gold and silver, the famous British financier Mr. Gresham proposed this theory: when the market price of gold and silver is inconsistent with the legal price, the market price is higher than the legal price of metals The currency (good currency) will gradually decrease, and the metal currency (bad currency) whose market price is lower than the legal price will gradually increase, resulting in the phenomenon of good currency being returned and bad currency flooded. This theory is called Gresham's Law by later generations, which is used to describe the phenomenon of bad money driving out good money.
This choice helps the company grow and grow, but it is a double-edged sword: Coinbase fought a year-long battle with the Internal Revenue Service (InternalRevenueService), which required access to every Coinbase user account in 2016. After two Ethereum chartyears of court debate, Coinbase finally provided access to a small number of accounts in 2018.
Liu Xiaochun believes that what impact the central bank's digital currency will have on the existing payment pattern depends on how popular the central bank's digital currency is in reality and in which fields or scenarios are more suitable for use. In fact, digital currency is not generated on the basis of demand, which is different from Alipay. Although Satoshi Nakamoto's original purpose was to provide a cash-like payment method for online transactions, Bitcoin deviated from this original intention from the very beginning. After this, all the assumptions about digital currency are derived from the technology itself.
Time December 29th, after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and its founders, today, the leading digital asset exchange Coinbase in the United States announced that it will suspend XRP trading globally on the 19th of next month , Affected by this news, the market price of XRP has plunged by 15% and is currently temporarily reported at US$0.243.