Viewpoint | The cryptocurrency industry has reached a watershed, IXO to the left, mature public chain to the right

For the cryptocurrency industry, last week was undoubtedly very heavy.

According to Babbitt reports:

  1. The US Senate sent a letter to members of the Libra Association, “threatening” that they left Libra, which eventually forced the six founding members of the Libra Agreement to leave ;
  2. The SEC determined that the Telegram (telegram) $1.7 billion ICO was suspected of being illegal and required it to stop issuing Gram tokens ;
  3. The IRS (US Internal Revenue Service) said that cryptocurrency forks are also subject to tax, which will cause cryptocurrency investors to face more problems ;
  4. Alipay and WeChat reiterate that they do not support cryptocurrency transactions and that they will monitor related transactions and that offenders may face penalties ;

The principle of force and reaction tells us that when one object exerts a force on another, it will produce a force in the opposite direction.

PS: Fortunately, these regulatory events are not aimed at one project at the same time. Otherwise, we may witness the birth of the blockchain industry version "Joker".

34 (Picture Left: When you submit the Bitcoin ETF proposal for the first time, right: After the three-time ETF proposal was rejected)

In addition to the bad news, last week there was good news from UNICEF. The cryptocurrency fund it established can accept BTC and ETH, and will retain them without converting to French currency, which takes advantage of cryptocurrency. Transparency brings new possibilities for philanthropy.


In addition, according to the data provided by , Bitcoin's total network computing power is close to 100 EH/s, setting a record high, and the bitcoin security wall is getting higher and higher. It seems that the miners are still very optimistic about the future of Bitcoin. They are not affected by the above negative news.


At present, the cryptocurrency industry seems to have reached a watershed. The era of huge IXO may never come back. In addition, giant hair coins are obviously subject to huge resistance, while existing more mature projects such as Bitcoin and Ethereum It may be the first choice for investors.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Bitcoin ETF Game Strong Talks in Advanced Stage

The SEC is seeking detailed descriptions from potential issuers for their spot Bitcoin ETF products.


Velar is set to release the world's first PerpDEX on Bitcoin, backed by a $3.5M seed fund.

Exciting news as Vellar, a promising PerpDEX platform built on Stacks, secures a $3.5 million seed investment to deve...


FLOKI: From Meme Coin to Tokenization Titan

In just one week, over $55 million worth of FLOKI has been locked in the blockchain's staking platform since the prog...


BC Technology Group Considers Selling OSL: The Crypto Exchange that Moos Money

Fashionista may be interested to know that BC Technology is in talks with potential buyers regarding a potential sale...


LDO token takes a nosedive as Lido DAO pulls the plug on liquid staking adventures in Solana

Lido DAO has announced the sunset of its Lido on Solana project, after a successful community vote supporting this de...


Huobi Token (HT) soars to new heights as trading volume skyrockets!

Great news for cryptocurrency enthusiasts! The popular exchange HTX's native token, Huobi Token (HT), recently hit a ...