Why has dot coin suspended trading? (Why has dot coin dropped so much?)
Why has dot coin suspended trading? According to official news, dot coin has te
Why has dot coin suspended trading? According to official news, dot coin has temporarily stopped trading due to the current market conditions. However, the inability to use new nodes to maintain the network has caused the node to be unable to operate properly. In order to ensure normal operations, the decision to temporarily suspend trading was made.
Specifically, please refer to: https://github.com/paritytech/polkadot/releases/tag/dot-coin-stop-trader-bitcoin-exchange
In addition, some internet users have asked why DOT token suddenly stopped trading. In the past few weeks, due to the high attention from the community towards this stagnation event, it did not attract much attention until this morning when DOT’s price dropped more than 50% (since March 15th). However, based on yesterday’s market analysis, this impact is not significant. (Note: “Emergency stop loss” refers to keeping some funds in the exchange instead of withdrawing.)
Why has dot coin dropped so much?
Editor’s note: This article is from the Wind and Fire Cycling Community (ID:FHBT18), written by Peipei and authorized for republishing by Odaily Star Daily.
Hello everyone, I’m Peipei. Recently, the market has been quite pessimistic, but there are still some issues that need attention. Personally, I am not surprised by this situation. Firstly, I don’t know who gave such a big suggestion. In fact, I think some people just treat it as a scam, but in reality, many people are not interested in understanding this argument. The second situation is because in November last year, we mentioned a concept called “dot coin”. At that time, many project teams wanted to attract investors to participate by issuing tokens. But today, not everyone thinks this is sufficient, so there are many friends who think this is a reasonable point of view. Many ordinary users may also find this situation embarrassing. In addition, I saw a news yesterday that a well-known investment institution has started transferring 1 million Ethereum to ETH, but they found that this transaction was meaningless and had certain risks. Therefore, some investors began to doubt, “If someone buys other tokens with these tokens, will it collapse?”
According to statistics from Debank, in the past week, the total value of DeFi protocols locked on Ethereum has reached $5.48 billion, which is more than the increase of $7.38 billion at the beginning of this year, indicating that most of the funds are still in holdings.
So what exactly is DOT? Why are there so many doubts and controversies? Mainly because from the current market performance, DOT’s price has not reached its initial issuance price of around $1, and its circulation is more than 10 times? Or in other words, this number is far more than $1 billion. However, this increase is definitely for a reason. For example, last year, some internet users asked, “Why don’t you sell directly?” He replied, “I don’t want to sell, I just want everyone to know when it was released.”
In this regard, let’s take a look at the two figures above:
The image is sourced from debank.co.uk, as shown below:
Although this chart may not look very realistic, it is indeed very large and surprising in real life, especially under the current DeFi boom. Especially for application layers like Uniswap, Curve, etc., they are not entirely supported by users’ held assets, but by dividends obtained through tokens. Therefore, even with some people’s wallet addresses using these tokens, they still cannot cash out. The same situation occurs in the DeFi field during this time. As a result, we can see that the platform coins of some exchanges have also experienced a sharp drop – for example, on September 16th, an address named “btcwhale” sold more than 20 million tokens (equivalent to $30,000) in a short period of time.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22950/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Solana Stable Currency Project “Cashio App” Transferred 3000 ETHs to Tornado Cash
According to reports, according to PeckShield monitoring, the Solana ecological algorithm stable currency project Cashio App has transferred about 3000 ETHs (approximately $5.1 mil
-
Monad Labs Raises $19 Million in Seed Round Financing
It is reported that Monad Labs, an EVM-compatible blockchain project founded by Keone Hon, the former research director of Jump Trading, completed a seed round…
-
When will OKEx resume (Will OKEx be delisted)?
When will OKEx resume? According to official OKEx news, around 11:18 on Septemb
-
Downturn in Silicon Valley Bank Caused by Negative Reviews by Business Incubators
It is reported that the US stock market of Bank of Silicon Valley fell by more than 20%. Previously, Y Combinator, a famous American business incubator, report…
-
ARB Airdrop Tokens: The Figures and Implications
According to reports, according to Nansen data, 816770750 ARB airdrop tokens have been claimed, accounting for approximately 70% of the total amount of airdrops. A total of 625143
-
Ethereum’s Shanghai Upgrade May Result in Lower Selling Pressure for Pledged ETH
On March 2, the online data platform CryptoQuant released a report saying that after the upgrade of Ethereum Shanghai, the pledge withdrawal of ETH may face lo…
-
Creator Royalties and Market Share
On February 27th, Yat Siu, co-founder of Animoca Brands, said that creator royalties provided NFT projects with a continuous source of income that exceeded the…
-
What is the currency of pay and how much is the issuance quantity (Paya currency)
<img src='https://img.doulai.com/pic/enpic.php?k=what currency is pay, and how much is it issued? Imgalt=what currency is pay, and how much is it issued? Images} What currency is pay, and how much is it issued? According to official information, what currency is pay, and how much is it issued? According to official website data, currently Pay is a digital currency that transfers and consumes funds through decentralized wallets. According to statistics, from January 2019 to present, the payment application has created over 1 million accounts, of which more than 4 million users use this payment application to complete daily payments. Pay is an application that can be used to trade, store, and receive payment information, providing a method for real-time transmission of value on the blockchain paycoinAccording to the official news of PAYcoin, Paycoin is a decentralized digital currency wallet based on blockchain technology. Users can create, issue and trade their own digital assets on Ethereum through Paycoin. Paycoin is a version of…
-
Understanding the ARB Token Conflict: Examining the Transfer Data
According to reports, data from chain analysis company Arkham Intelligence shows that only 50.5 million out of the 750 million ARB tokens in conflict between ARB token holders and
-
The Future of Central Bank Digital Currency (CBDC) in the United States
According to reports, Christopher J. Giancarlo, former chairman of the United States Commodity Futures Trading Commission (CFTC), said that the United States Central Bank Digital C
-
Fantom Foundation Transfers 10 Million FTMs to Coin An
It is reported that encrypted Twitter KOL@Bit Rem tweeted that the Fantom Foundation transferred 10 million FTMs of the Fantom chain (worth about $3.66 million…
-
Significant Reduction of USDCs by Circle, Coinbase and Jump Crypto
On March 11, according to PeckShield Alert data, Circle destroyed 2.7 billion USDCs in the past 24 hours, and Coinbase (at least 1.78 billion) and Jump Crypto …
-
Soul Wallet, a Start-Up Company by Former Product Manager of ByteDance Raises $3 Million in Seed Round Financing
It is reported that Soul Wallet, the start-up company of Zeng Jiajun, the former product manager of ByteDance, has just raised $3 million in seed round financing. Soul Wallet is used to provide online self hosted Ethereum wallets based on ERC-4337. According to founder Zeng, Saul Wallet is currently undergoing internal testing and plans to launch in the third or fourth quarter after a series of rigorous reviews. The team currently has over a dozen employees throughout the United States, Japan, Thailand, and China. Saul Wallet Announces Completion of $3 Million Seed Round Financing Analysis based on this information:The start-up company, Soul Wallet, created by Zeng Jiajun, the former product manager of ByteDance, has successfully raised $3 million in seed round financing. Soul Wallet aims to provide online self hosted Ethereum wallets based on ERC-4337. The founder of Soul Wallet, Zeng Jiajun, stated that the company is currently undergoing internal testing and will be launching in the coming quarter after…
-
What does DOT limited time mining mean (dot coin mining)
<img src='https://img.doulai.com/pic/enpic.php?k=DOT limited time mining What does it mean? Imgalt=DOT limited time mining What does it mean? Images} DOT limited time mining What does it mean? According to official information, what does Polkadot (DOT) limited time mining mean? According to the official introduction, the deflation mechanism of DOT is destroyed through forking. 10% of the total supply of DOT will be locked for a year to ensure network security and ensure normal protocol operation until the entire network is fully released. Specifically, each block will be destroyed and a portion of the tokens will be allocated to users in a certain proportion, which can increase or decrease over time Therefore, DOT will generate rewards and unlocks in the form of inflation at the beginning of its launch, and a large number of trading pairs will appear every day after its launch According to official information, DOT mining will officially launch on September 18, 2020 at 4pm. It is reported that…
-
Nori launches public Web3 platform for end-to-end carbon removal market
It is reported that Nori, the end-to-end scalable carbon removal market, today announced the launch of the public Web3 platform. Through this release, Nori\’s c…
-
Why is mining always offline (after mining for a period of time, it drops)
Why is the mining always offline? According to Bitcoin, why is it necessary to carry out Proof of work mining when the mining of Bitcoin is always offline? To solve this problem, we need to have a certain impact on the network and computing power. Because under normal circumstances, if more nodes join the mining process to receive rewards, it will increase the block space. In this way, due to the wide application range and high uncertainty of blockchain technology, it has led to a significant burden on the entire system However, as time goes by, more and more people begin to study mining and discover that these digital currencies can actually operate independently. This indicates that many people are now using it as a new form of asset, so this method is considered very effective After mining for a period of time, the line drops.After mining for a period of time, the line drops. This phenomenon is more common…