Marissa

The price of Ethereum Classic skyrocketed

Over the past few days, the cryptocurrency market has been on the rise overall. It was Ethereum (ETH) that led to the overall rise. the skyrocketing price of Ethereum. Ethereum showed a 41% rise in about three days. In the case of futures trading, if leverage is applied, it’s a huge increase.​ The price of Ethereum Classic skyrocketed. The price increase of Ethereum Classic (ETC), which is like one family, was similar. It showed a 54 percent rise in about four days.

So what was the increase in the price of Bitcoin, the leader of cryptocurrency, during the same period?

Bitcoin’s rise is only 1/3 of Ethereum

Bitcoin has also risen over the past three days, but it has only risen by a third compared to Ethereum’s rise over the same period.

Then it certainly means that it was Ethereum and Ethereum Classic that led the rise.

What was the reason?

The reason for Ethereum’s rise is because of the Ethereum 2.0 upgrade

It is speculated that the reason for Ethereum’s rise is due to expectations for the Ethereum 2.0 upgrade.

 

This is because the Ethereum 2.0 upgrade process, which has been going on for a long time, has just come to an end. Most of the upgrades are expected to be completed within this year at the latest.

If you look at the roadmap so far, it is said that a new “difficulty bomb” will be introduced in mid-September. The “difficulty bomb” is an incentive to intentionally increase the difficulty of mining using graphics cards to reduce the existing PoW method and increase the PoS method. 바이낸스 거래소 한국어 One of the Ethereum 2.0 upgrades is the transition from Proof of Work (PoS) to Proof of Equity (PoS). The difficulty bomb plays a key role in facilitating this transition. This is because naturally, the difficulty of proof-of-work mining will be stopped and block generation will eventually be stopped.

If Ethereum is completely transformed into a “proof of ownership” method, it is expected to reduce the many electricity use and environmental problems that have been required in the mining process, as well as high fees and gas costs.

 

If the existing proof of work was a way to reward the problem-solving work using a graphics card, the new “equity proof” is a way to be rewarded the more Ethereum is staked, so there is no reason to have a graphics card for mining. If you just have Ethereum, you get rewarded. As a result, the amount of Ethereum supplied to the market is reduced and the price of Ethereum increases. In addition, Ethereum owners can participate in mining, which can speed up transaction processing and make transaction fees cheaper.

Some analysts say that the reason why Ethereum has not risen so far is that Ethereum-based virtual asset loan platforms such as Celcius Bankruptcy and Three Arrow Capital have had difficulty supplying liquidity one after another.

To some extent, these negative factors have been reflected, and as Ethereum’s good news approaches, it is looking for an upward momentum.

The rise of Ethereum Classic (ETC) is also due to Ethereum 2.0 upgrades

Meanwhile, it is analyzed that the rise of Ethereum Classic (ETC) is also due to the Ethereum 2.0 upgrade. But the reason is completely different.

Originally, Ethereum Classic was a virtual currency that was separated from Ethereum in the wake of the “THE DAO” hacking incident in July 2016.

But if Ethereum is no longer a work proof method, it is likely that the vast amount of mining machines used for Ethereum mining will be used for Ethereum classical mining. This will increase the ‘hash power’ of Ethereum Classic, which will increase the stability of the entire Ethereum Classic network by a factor of several tens of times.

That’s why it was considered a big boon for Ethereum Classic.

Therefore, it is analyzed that the rise of Ethereum is due to the upgrade of Ethereum itself, and the rise of Ethereum Classic is due to the graphics cards of miners who move to Ethereum Classic due to the upgrade of Ethereum.

On the other hand, many people have recently been interested in futures exchanges where they can make profits by betting in the direction of the decline.

The MEXC Exchange, where I am a partner, is a large exchange with a higher exchange rank than Bybit or Bitget, and is still supporting perfect Korean language services, making it the hottest exchange these days.

In addition, new subscribers will be paid 50 USDT as a gift immediately after KYC certification, and up to 70MX coins (equivalent to 150,000 won, you can receive various air drops just by holding them). Among the related events until July 20th, you can see the posting of related information in the comments section below.

In addition, there is a great advantage of being able to send assets without loss of principal as it exempts fees when transferring ripple or trons from Upbit or Bithumb and then switching to USDT/USDC.

If you sign up through my discount link and complete KYC certification, the SVIP rating, which corresponds to the special grade of the exchange, will be applied immediately and you can trade futures with a market price fee of 0.036%, including 10% cashback, so I hope you use it a lot. There are other bloggers who accuse it of fraud without confirming this point.

You can check the exchange commission rate right after KYC certification.

The risk of delisting 90% of coins in circulation in Korea is becoming a reality

About 90% of the numerous virtual assets are classified as “securities-type coins,” which is expected to be delisted on the Korean exchange.

The risk of delisting 90% of coins in circulation in Korea is becoming a reality

According to sources, Korea’s Financial Services Commission is pushing to divide virtual currencies into “securities type” and “non-securities type” and treat them as targets of the Capital Markets Act in the case of “non-securities type.” In this case, these coins will be treated as securities and will no longer be available on domestic cryptocurrency exchanges. https://bybitnote.com/

In fact, if this happens, about 90% of the coins listed on the domestic exchange will be delisted.

In fact, President Yoon Suk Yeol made this pledge as a national agenda when he was a candidate.

Securitization of cryptocurrency is

The tedious legal battle that Ripple (XRP) has been having with the U.S. Securities and Exchange Commission (SEC) for years is also a debate over this.

 

The key issue in the legal battle between the U.S. Securities and Exchange Commission and Ripple’s developer Ripple Labs is the SEC’s claim that senior figures at Ripple issuers have sold unregistered securities to individual investors over the past seven years.

As a result, the SEC asked Riflabs to return its previous unfair gains and not to recruit any more investors. In addition, we have filed a civil liability claim with the court.

The reasons why the U.S. Securities and Exchange Commission (SEC) sees Ripple as a securities are as follows.

First, we cited the fact that the degree of success of investors buying Ripple (XRP) is the same for all investors as evidence that Ripple has securitization. The fact that all investors who own ripple benefit together when the price of ripple rises means that ripple holders have a “common interest” as if they were stockholders.

The second is the success of Ripple’s issuer, Ripple Labs, which has a big impact on investors buying Ripple (XRP). Since recruiting early Ripple investors, Ripple has shown that it will do its best to keep the value of Ripple up and down, allowing investors to think that the success of the various projects Ripple plans and executes determines the price of Ripple (XRP).

Thirdly, the SEC did not accept the claim that Ripple (XRP) can be used in real life, as Ripple Labs claims, and that it functions as a currency. Ripple believes that it is only an object of investment, and that it is difficult to find evidence that it was used in real life, and that it does not apply to currency such as legal currency.

Fourth, the fact that Ripple Labs was already aware that such Ripple’s securities could be a problem also contributed to the SEC’s judgment that Ripple was a securities.

Ripple Labs has already received legal advice 10 years ago that Ripple is equivalent to securities under the Federal Securities Act, but it ignored it and continued to recruit investors. If it is a securities, it can be said that it has ignored all the various information disclosure obligations to receive and has only taken profits.

It is clear that the U.S. Securities and Exchange Commission views Ripple as a securities.

Opinions are still divided on how the results of the ripple lawsuit will come out in the future. The legal community predicts that a conclusion will be reached at least sometime in 2023.

The impact on coins on Korea’s exchange is

It is 100% certain that the U.S. Securities and Exchange Commission’s criteria for judging coin securities will have a significant impact on the Financial Services Commission’s judgment on securities.

This is because most of Korea’s norms, especially in the financial sector, are formed based on those on the Anglo-American side.

However, since the U.S. Federal Securities-related laws and Korean financial-related laws are not the same, there is a possibility that the judgment on securities characteristics may be different.

If domestic virtual asset exchanges classify coins currently in circulation as securities and non-securities as promised by President Yoon Seok-yeol, more than 90% of the above arguments are likely to be classified as securities. In this case, it is subject to regulations under the Securities Act, so it can no longer be handled on the virtual asset exchange and must be handled on the Korea Exchange.

If a coin is classified as a securities type, it will be subject to various regulations such as approval and registration procedures with the Financial Services Commission, investment recommendations will be banned, and the obligation to submit securities reports and keep investment manuals. In addition, conflicts of interest with investors, such as self-transaction bans and bilateral agency bans, will be prohibited.

In the extreme, an expert in the U.S. even said, “Among many coins, only two can be classified as non-securities coins are Bitcoin and Ethereum.”

 

If this becomes a reality, I think that most exchanges will be uncertain about their survival beyond the worsening profitability of most domestic exchanges.

It feels like the typhoon that Korean Kwon Do-hyung recently brought to the global virtual currency market as well as the financial market is returning to a huge paradigm of strengthening regulations on the entire virtual currency.

For the time being, we hope you will be more careful about spot purchases and long positions, and it would be good to think about profits through short positions.

In the comments section below, we have left a link to the discount subscription of the official partners of the Bitget Exchange and the MEXC Exchange, so if you want to use the futures trading, please refer to it. In addition, there are links to the basic concepts of futures trading, how to sign up for the exchange and get KYC certification, and how to deposit money on the exchange in the comments section.

For those who subscribe to my link and trade, I provide a lot of actual trading techniques through my separate trading method-oriented blog.

Please feel free to ask me questions about futures trading through my Kakaotalk open chat and Telegram inquiry channel. If you have any questions about joining the exchange or any opinions on the trading law, we will continue to communicate and respond. You can inquire not only through the banner at the top but also through the link in the comment box.

Today, we looked at the facts that may be the biggest nuclear bomb-like news since the domestic virtual asset market became so huge.

I hope this doesn’t happen.

Many people visit overseas exchanges to trade futures

Hello, many people visit overseas exchanges to trade futures when coins are on the decline like these days, because futures trading can make profits by betting on short shots even when they are on the decline. So today, we’re going to talk about various events at the MEXC 거래소 사용법, one of the overseas exchanges that aggressively knock on the Korean coin market. In particular, you can receive experience money for futures trading through various events, and if you invest this experience money and make a profit, you can also receive full settlement of your profits.

To check the experience fund event, you can click the gift transaction on the top menu of the MEXC exchange and click the event on the top menu again. Another way is to check the banner running in the middle of the home screen.

Let’s take a look at each one.

1. Beginner mission

1. 10 USDT experience fee will be paid when 300 USDT is deposited

2. 20USDT experience fee will be paid when 500USDT is deposited

3. 40USDT experience fee will be paid when depositing 2,000USDT

Most of the above missions are events where you can receive twice the amount of the specified experience money by simply depositing money. In addition, there is an event where you receive 5USDT for the first futures transaction of more than 1,000USDT and 80USDT for the 7 days after the futures account activation exceeds 200,000USDT.

2. Daily mission

In addition to the event in which new users who join KYC as their invitation link and participate in futures trading, there is an event in which they receive 5USDT, and if the cumulative futures transaction exceeds 10,000USDT, they will receive a 1-50USDT experience fee randomly.

3. MEXC Invitation Event (9/11-9/21)

Up to 70MX+50 USDT

 

During the event period, a new subscriber who joined through a referal invitation link will receive up to 70MX (MEXC exchange coin) when participating in the transaction after KYC certification, and a gift experience fee of 50USDT will be paid just by KYC certification. However, the gift experience fee will be paid after the KYC review is passed.

In summary, sign up through the link above and receive 50MX if the spot transaction volume exceeds 2,000USDT, and an additional 20MX if you deposit 6,000USDT during the event period. In addition, if the review is completed after KYC certification, you can receive a 50USDT experience fee.

If you don’t have an ID for the MEXC exchange yet, you can receive SVIP-grade commission benefits and new invitation events by signing up through the link above. Please keep that in mind!

※ Caution: After withdrawing from the membership, new subscribers will be excluded from the event, and payment will be excluded if fraudulent activities such as viewing or multiple accounts are confirmed.

4. Gift feedback and compensation programs

To strengthen communication with users, you can submit meaningful feedback on futures trading on the MEXC exchange as an event held on the MEXC exchange. In particular, it is an event that pays 20 to 1,000 USDT in case of problems or suggestions on ways to improve them in futures trading.


5. For participants in the individual gift trading competition

You will get a chance to win one experience prize every day!

 

First of all, the total capital of the gift account must be at least 1,000 USDT to participate in the competition. Participants with a daily trading volume of 50,000 USDT or more will be given a chance to spin the lucky roulette each day in the newly filled 100,000 USDT prize pool.

6. Weekly Gift Event

An event is underway to pay experience money to new users who trade gifts every Monday from 1:00 to 1:00 on Saturday.

6-1. New users who accumulate more than 2,000 USDT among new MEXC futures trading users for the first 300 people will receive a gift experience fee of 10 USDT.

Even for the above event, you can receive an experience fee in duplicate with the no. 2 beginner mission.

6-2. If you meet the minimum required transaction volume during the event period, you can receive an experience fee. Please refer to the image below for the experience fee paid by the minimum total transaction volume.

7. Experience money is paid to users of futures trading with 21 times more leverage!

If the transaction volume is more than 5,000 USDT among new users who have traded gifts with 21 times more leverage, 5 USDT experience fee will be paid.In addition, users who trade at 21-125x leverage and have accumulated more than 10,000 USDT will receive the following rewards:

How to Use Experience Money

The experience money paid through the above various events is distributed to the gift account, so you can check the wallet balance of the gift account.

What you should be aware of when using the experience fund is that the experience fund can only be used for futures trading and is used for position deposits, fees, and advance deductions in case of loss.Please be careful because if you move the experience money to a spot account without profit, it will disappear immediately. You can literally think of it as a MEXC exchange offering enough money to experience futures trading.

I think it is a good opportunity to practice high-magnification leverage because you can open a gift position using the gift experience money as a deposit and only the experience money disappears even if it is liquidated.

Then, I will finish posting about the event where you can receive the experience money at the mexc exchange and how to use the experience money.