The market is falling rapidly, and crypto investors are frantically entering the market to grab tokens.

ZB Academy
4 min readSep 22, 2021

On September 22, according to the statistics of ZB Research Institute, the global cryptocurrency market shock caused bitcoin to fall below $45000, the total market value of cryptocurrency exceeded $1.9 trillion, and the mainstream currency fell by more than 10% in 24 hours. ETH took the opportunity to continue to narrow the distance with BTC. At present, 327492.50 ETH have been destroyed by Ethereum network, which is further closer to the value of bitcoin in the market fluctuation. According to the current cryptocurrency transaction data, the rapid decline of the market is attracting more cryptocurrency investors and institutions to rush into the market to grab chips.

According to the statistics of ZB Research Institute on September 22, cryptocurrency investment products and funds saw capital inflows for the fifth consecutive week. Last week, cryptocurrency inflows reached US $41.6 million, of which bitcoin undertook US $15.3 million, accounting for the largest share of inflows so far. Ethereum products received US $6.6 million, accounting for the second share of capital inflow. From January to mid September 2021, the capital inflow of cryptocurrency is about US $6 billion. El Salvador, which takes bitcoin as legal currency, has 1.6 million people involved in trading bitcoin. This means that the people involved in bitcoin trading in the country have accounted for 25% of the total population.

ZB Research Institute believes that the improvement of market confidence is a seasonal phenomenon in the trading field. At present, it has not seen a large number of investment products listed, which indicates that some investors are taking advantage of the recent weak price and the continuous rise of token popularity to invest. According to the latest statistics of ZB Research Institute, the download volume of encryption monitoring applications in the market has increased by more than 63%, and some digital asset payment platform applications have become more and more popular, with the download volume increasing by 60.94%. The trading staff of both centralized and decentralized exchanges are growing steadily.

The reason for the above market performance is the market self-regulation caused by the medium and long-term bull market of cryptocurrency. According to the relevant information obtained by ZB Research Institute from Fox magazine, in addition to the self shock of cryptocurrency and the impact of stocks, commodities and other assets on cryptocurrency, the Federal Reserve’s interest rate meeting in September or the sharp decline of cryptocurrency market are another reason. However, with the influx of institutional investors and the general overlap of market participants, it can be seen that the encryption market and the traditional market are becoming more and more related. When the market participants in the traditional market and the encryption market become more and more homogeneous, their market law and crazy pursuit of the bottom will also become the norm of the performance of the cryptocurrency market. The most important thing is,Further strengthening of the correlation will eventually form a bigger capital bubble after the callback market.

On September 22, Indian Finance Minister Nirmala Sitharaman said that a lot of consultations had been held on India’s cryptocurrency, and the opinions of the Reserve Bank of India had been adopted. We must ensure that things of futurism cannot be turned away. ZB Research Institute believes that this shows that India is actively preparing to accept the entry of cryptocurrency market, and will study issues related to virtual currency and put forward specific actions. Some analysts believe that India’s move will lay a foundation for the opening of cryptocurrency and further opening the South Asian market. At present, Southeast Asian countries have realized the full and conditional acceptance of cryptocurrency transactions.

On September 22, ZB Research Institute learned from a notice issued by the IRS last week that the U.S. tax authorities are working to strengthen their ability to track cross chain transactions. The agency hopes to have a deeper understanding of these processes.

On September 22, Canaan technology announced that its board of directors had authorized the share repurchase plan. According to ZB Research Institute, in the plan, Canaan technology can repurchase issued (I) American Depositary Shares (“ADS”) with a value of up to US $20 million. According to the stock repurchase plan, Canaan technology company can repurchase its American depositary shares from time to time through open market transactions at the current market price, private negotiation transactions, block transactions or any combination thereof.



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