Babbitt weekly election 丨 The crypto market has been hit hard. Can Bitcoin lead the market out of the independent market?

Guide: Blockchain has set off a new industry boom in China. Babbitt's weekly election will review the major events that have changed the industry trend in the past week from the perspectives of policy supervision, editorial, project ecological implementation, technology progress, platform construction, and investment. For all blockchain entrepreneurs, Investors and users can provide a basis for grasping the development trends and opportunities of the blockchain.


Image credit: Pixabay

In the early morning of March 16, the Fed threw another "heavy bomb", the interest rate dropped to zero, and there was 700 billion U.S. dollars in quantitative easing. Just a few days ago, on March 12th, the crypto market experienced the largest "tragedy" in history. The entire crypto market suffered an avalanche and "halved" in advance, but the assets were halved. The new crown pneumonia virus is raging around the world, and Europe and the United States have become the worst-hit areas, which has put greater pressure on the fragile global economy. Even gold is difficult to completely avoid risks at this time, and the crypto market is even more vulnerable. With only more than 50 days left before Bitcoin halved, the market situation will be more severe. Can Bitcoin escape this global crisis and emerge from the independent market? Can Bitcoin correct its safe-haven assets?

In addition, in the field of blockchain and crypto financing, Bakkt completed a USD 300 million round B financing, creating the highest number of blockchain companies in 2020. Previously Microsoft and ICE participated in this round of financing again. On the regulatory front, the Russian central bank has stated or banned the issuance and trading of cryptocurrencies.

I. Policy and supervision

The Russian central bank said that the latest version of the Russian Digital Assets Act will include a ban on the issuance and sale of cryptocurrencies, and that cryptocurrency issuance and trading should not be legalized in Russia. U.S. lawmakers have proposed a new bill that will clearly regulate the relevant agencies responsible for regulating cryptocurrencies, a move that will bring legitimacy to crypto assets.

Russian banks: new digital asset bill will ban cryptocurrency issuance and trading

Illinois, US: Cryptocurrency added to list of what can be considered "abandoned assets"

Japanese financial regulator launches global blockchain governance initiative network

U.S. lawmaker proposes new cryptocurrency bill: clear regulatory body to bring legitimacy to crypto assets

Beijing's "Supervisory Sandbox" first batch of projects finalized, the product involves blockchain and other technical applications

Blockchain and physical applications

In this new crown epidemic that has swept the world, the application of blockchain has been greatly developed, covering epidemic prevention monitoring, charitable donations, remote office work, industrial resumption, credit financing, etc., and the application demand continues to expand. Beijing has recently issued the first blockchain electronic invoice, and Beijing's tax service management has officially entered the blockchain era.

Research Report | Application of Industrial Blockchain in the New Crown Epidemic: Demand continues to expand, and applications are far from being met

Combing 96 Blockchain Government Affairs Applications: Government Departments Like To Do 8 Things With Blockchain

Part of the 700 billion cake, Ali, Huawei, Wanxiang and Midea attack "Industrial Internet + Blockchain"

Beijing progress in blockchain applications: from "directory blockchain" to the first blockchain electronic invoice

Weekly development of industrial blockchain 丨 Epidemic overlays economic crisis, confidence is more important than gold

Third, technical direction

Although Bitcoin is "halved", Bitcoin core developers continue to focus on the latest Bitcoin technology. Core developers have proposed a solution to change the transaction replay logic to make Bitcoin more complete. The Ethereum 2.0 client is also under continuous development, and the multi-client release is further.

Bitcoin development has made new progress. Core developers propose to modify the logic of Bitcoin transaction replay to better transaction privacy.

Anti-51% attack: Harvard MIT scholar proposes new theory of fighting double spend

Vitalik: Ethereum state explosion problem, polynomial promise solution can solve

Free and easy week review | Is blockchain preemptive trading too rogue? Consensus algorithms introduce sequential fairness or can be cracked

Ethereum 2.0 client Prysm interacts with Lighthouse, multi-client testnet release is a step closer

Fourth, investment and financing

The cryptocurrency market is now struggling in a bear market, but Bakkt announced that it has completed $ 300 million in Series B financing. Microsoft, Intercontinental Exchange and many other well-known institutions have once again participated in the investment. This financing set the highest funding for crypto companies in 2020. The investment support of large companies has given industry participants more confidence.

"Damo" former executive team builds, crypto derivatives exchange Phemex completes $ 3.5 million in Series A financing

DeFi Ventures Framework announces $ 900,000 investment in Commonwealth and FutureSwap to complement DeFi's missing link

Bakkt announces completion of US $ 300 million Series B financing, Microsoft, Intercontinental Exchange, etc.

V. Mining

Bitcoin "halved" ahead of time, but the price was halved. The plunge in prices has also caused the upcoming halve to increase more variables. Many mining machines have fallen below the shutdown price, and the mining industry may be in danger. What is the lowest price of Bitcoin? With more than 50 days left until the halving, the mining industry is likely to usher in a major reshuffle.

Bitcoin's last bastion: miners and mining costs

Two days in the mining circle: Bitcoin plummeted 52%, 38 miners fell below shutdown price

Babbitt Original | Futures burst in a row, miners have been circled, 3000 dollars is the last pass?

Is individual mining a thing of the past? Mining these coins in 2020 is still profitable

Ethereum mining shuffle: nearly 40% of the entire network computing power in April or will evaporate

Last miner: Can I continue mining when Bitcoin drops to $ 1,000?

Bitcoin plummeted 22% in 15 minutes. Is the mining disaster coming?

Chainalysis Report: In 2019, mining pools injected 700,000 bitcoins into exchanges, and competition among mining pools has become increasingly fierce


Another victim of the avalanche of the cryptocurrency market is DeFi. MakerDAO conducted its first debt auction due to the slump in ETH prices. However, despite this, DeFi is still one of the areas with the most potential for development. The largest stablecoin Tether (USDT) announced its entry into the DeFi market and the integration of the DeFi protocol, which will bring more liquidity to this field.

Analysis: The market plunges "the scourge" of DeFi, which will be more resistant after the market is perfected

ETH plunge triggers MakerDAO's first debt auction, some people successfully complete settlement with 0 DAI

Interview with Babbitt: Asset Management Wallet DeBank goes live, calculates your DeFi mess

ETH suicide diving panic due to Maker liquidation? This is a misunderstanding

Data: a year-on-year increase of 294%, DeFi finally becomes a killer application for Ethereum

DeFi pattern or big change, Tether announces entry into DeFi, integrates Lightning loan agreement Aave

There are investment bosses who bless and do not resist. Why is the DeFi project Paradigm Labs "dead"?

DeFi Weekly Selection | DEX scale has increased nearly 4 times in 3 months, and the centralized platform is gradually diminishing?

Perspectives | DeFi: Unbreakable, Expected in the Future

Seven, central bank digital currency and Libra

Central bank digital currencies are an inevitable trend in the digital era, and central banks' interest in central bank digital currencies is gradually increasing. The landscape of money and payments will change dramatically. Before Libra was born, competitors were here. Libra's supporters don't seem to intend to bet all hope on the already troubled Libra, and they are starting to support another project, the Celo Alliance.

Central bank digital currency

Bank of England: Interest in central bank digital currencies, big changes in currency and payments

The future financial system-who will benefit from the CBDC?

First Deputy Governor of the Bank of France: What is the financial sovereignty of the digital world?


Five members of the Libra Association join. Why does this startup compete with Facebook?

Babbitt Column | Interpreting Celo's "Prosperity Alliance": Is Libra's Competitor Coming?

Market transactions

3.12 This day will be recorded in the history of cryptocurrencies. This day created the worst record in the cryptocurrency trading market. The market fell completely, the biggest drop in history. The entire market lost nearly 100 billion US dollars in market value, and many currencies Price halved in less than 24 hours.

Forbes: What effect does the Fed's interest rate cut to zero have on cryptocurrencies?

Review: The most thrilling 24 hours in Bitcoin history

After the panic plunge, why can some projects "blood back" quickly?

24 hours in the currency circle, investors, exchanges, DeFi beings

Black Swan Crypto Assets under High Leverage | BlockVC Research

Bitcoin sends out proposition, exchanges, miners, DeFi forced to submit papers

BTC sees historic collapse, contract market smashes $ 2 billion