The market is fully upward and the short position of BTC futures fell to the lowest in March.

ZB Academy
2 min readAug 30, 2021

On August 30, according to the relevant data obtained by ZB Research Institute, the total value of ETH destroyed by Ethereum has broken through US $400 million. As of the statistical time, there are about 126000 ETH destroyed in the whole network, with a total value of more than US $400 million.

Affected by market transactions, Ethereum destruction and other events, the global cryptocurrency market is entering a comprehensive upward trend, and the transaction volume and transaction demand are booming. The total market value of global cryptocurrency is back above US $1.9 trillion. Some analysts believe that the total market value of global cryptocurrency is expected to exceed US $2.2 trillion or higher by the end of 2021.

According to the information obtained by ZB Research Institute from the U.S. Commodity Futures Trading Commission (CFTC), the clear head position of bitcoin futures fell to the lowest level since March 2020.

Under the influence of the market, the prices of various public chains and platform currencies and other currencies have also generally increased. In terms of public chain, according to the statistics of ZB Research Institute, the total lock up volume of Polygon public chain is US $5.39 billion, and the net lock up volume is US $4.33 billion.

The market is fully upward, allowing the traditional Internet industry giants to accelerate the layout of cryptocurrency. According to the news on the 30th, the “pending” project plan disclosed by Jack Dorsey, CEO of Twitter and Square in July has a clue. According to Dorsey and Mike Brock, executive officer of CashApp in charge of the program, the project has a clearer roadmap.

On August 30, Austrian finance minister Gernot blumel called for stricter supervision of the country’s encrypted assets. In addition, the minister expressed the hope that tax encryption would be similar to stocks.

ZB Research Institute believes that Austria takes more stringent regulatory measures and imposes tax on cryptocurrency at the same time. Its purpose is by no means to prohibit cryptocurrency. The real reason behind this may be the hope to establish appropriate regulations to guide the use of digital assets in the country.

On August 30, the Central Bank of Singapore, the monetary authority of Singapore (MAS), launched a new project based on blockchain technology to simplify the cross-border payment process using central bank digital currency (CBDC).

Earlier, MAS broke out that it was cooperating with the Bank for International Settlements (BIS) on a project called Dunbar, which was formed by a consortium of other central banks interested in CBDC development. The experiment was also supported by Onyx, the blockchain and payment infrastructure division of JPMorgan Chase.



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