Global assets fall while DeFi hits a waterfall
The cryptocurrency market has seen another major correction in recent days.
According to Coingecko, DeFi led to fall, with large market value DeFi tokens such as YFI, UNI and LEND all falling sharply.Mainstream currencies also fell to varying degrees, BTC fell 0.93% and ETH fell 3.7%.
It is worth noting that BTC’s dominance has declined further this month, reaching year-to-date lows, perhaps due to ETH and DeFi heat.However, generally speaking, currencies of medium and small market value are adjusted greater, while mainstream currencies still has a defensive advantage.
Stock markets around the world fell: The Hong Kong hang Seng index fell below 24, 000 points, down more than 2%, for the first time since June 15.European stocks opened lower, with major indexes down more than 2% and Britain’s FTSE 100 down more than 3%.U.S. index futures also fell sharply, with the S&P 500 and Nasdaq futures down nearly 2% and the Dow Jones industrial Average down more than 2%.The Shanghai index fell 0.63%, while the Chinext index fell 1.03%.
Some analysts believe that the global stock market decline is related to the outbreak of the epidemic in European countries.As many as 300,000 new cases of COVID-19 were confirmed in Europe last week, breaking a record since the outbreak began, according to The World Wide Web.On September 20, European governments sounded the alarm, and British Prime Minister Boris Johnson said a second wave of the virus was inevitable in the UK.
A renewed outbreak in Europe weighed on the Euro, the Pound and gold prices.Spot gold was down nearly 1% at $1,931.61 an ounce by 18:50 Beijing time.Stephen Innes, chief market strategist at AxiCorp in New York, said the focus this week should be on Powell and tiger, as more stimulus measures in the United States would weaken the dollar and favor gold.
In addition, geopolitical friction increased, currency market risk aversion rise, which favors dollar index.The dollar index had come under pressure after doubts about the U.S. economic stimulus package and a looming U.S. election.The dollar index quickly recovered as risk aversion mounted and Taiwan tensions flared.The onshore CNY fell against the dollar today, falling 0.21%, or 145 points, from Friday’s official close of 6.7588 CNY, according to data from the China Foreign Exchange Trade System at 16:30 Beijing time.
Be cautious to banking storm of US
As well as macro factors, cryptocurrency investors should also be aware of confidential documents made public yesterday by the US Treasury’s Financial Crimes Enforcement Network (FinCEN), which, according to Bloomberg News, points to a “global banking crackdown” aimed at curbing suspicious fund flows.
According to the report, HSBC helped suspected Ponzi schemers launder $80m of assets from an HSBC account in the US to a Hong Kong account in 2013–14. HSBC was previously fined $1.9 billion by the US government for money laundering. J.p. Morgan Chase, Standard Chartered, Deutsche Bank and Bank of New York Mellon have also been exposed as money-launderers.
HSBC shares fell as much as 4.4% in Intraday Hong Kong trading on the news, to their lowest level since 1995.Standard Chartered fell 3.8% at one point.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea’s Bithi.
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