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Huobi Watch: Payment will be the next outlet of DeFi? It is very important to solve the pain points of application scenarios



On September 7, founder Andre Cronje tweeted, "USDC and USDT will soon be available on the second layer (L2). This will allow the transfer of USDC and USDT without congestion. If you pay with USDC and USDT , which is good. From my experience, USDT and USDC are tools of trade. Not currencies. How much will be transferred to L2 anyway?"

DeFi analyst Chris Blec commented, “Payments are a powerful use case. The problem with L2 offering these things is that it gives TetherCentre an easier way to enforce compliance, which is what fast and free L2 wallets need to do. KYC."

Huobi Forum Dialogue Wang Hongbin: From a technical perspective, the blockchain will play a leading role in the financial field: On the afternoon of December 30th, Singapore time, Wang Hongbin, CEO of Euromoney Institutional Investors Group Greater China, visited the Huobi Forum to "Review With the theme of "From Epidemic to Recovery", we discussed with Ciara, Vice President of Huobi Business, how enterprises should carry out digital transformation under the continuous impact of the epidemic.

Wang Hongbin believes that the epidemic has promoted the development of the digital wave. From a technical perspective, the blockchain and cryptocurrency industries will play a leading role in the financial field and will rapidly grow into another industry different from big data, artificial intelligence and the Internet of Things. This new technology is bound to have a lot of room for development in the future. Bitcoin has been a standout in 2020. But if Bitcoin is to grow into a more mature asset class, it must go through a series of cycles, and Bitcoin has not yet completed a complete cycle. Sophisticated institutional investors need to understand this before entering this market.

"According to my personal observation, the asset class of Bitcoin has become more and more clear, which will attract more and more institutions to enter this market, but we still need to look at the development of the overall cycle of Bitcoin from a macro perspective. But from In the long run, I am optimistic about this type of assets." Wang Hongbin finally concluded. [2020/12/31 16:08:51]

Huobi Institute believes that the current development of the DeFi market is still in a very early stage. No matter what innovations have occurred so far, there is still a huge gap between it and the real economy. From the perspective of application scenarios, if digital assets have channels that can be connected with applications in the real economy, then the subsequent DeFi market will have continuous growth in application scenarios and achieve the goal of inclusive finance.

Huobi Global has now resumed the TRC20-HT deposit and withdrawal service: According to official news, Huobi Global has now resumed the TRC20-HT deposit and withdrawal service. The circulation of TRC20-HT in this issue is 10 million (a total of 20 million in total). After the issuance of TRC20-HT, the total amount of HT (Huobi Token) will remain unchanged. Huobi Global will lock an equivalent amount of ERC20 assets on the Ethereum network. The relevant addresses are as follows:

ERC20-HT lockup address: 0xe4818f8fde0c977a01da4fa467365b8bf22b071e

TRC20-HT contract address: TDyvndWuvX5xTBwHPYJi7J3Yq8pq8yh62h[2020/10/6]

ACH (Alchemy Pay) in the payment field in the current DeFi market is a project worthy of attention.

Announcement | Huobi Global will suspend the swap-in and swap-out function of HB10 at 12:00 on the 30th: According to Huobi’s official announcement, Huobi Global will start the HB10 swap in the third quarter of 2019 from 12:00 on September 30 , the swap-in and swap-out function will be suspended at that time. The new lending business of HB10 has been suspended, and the transaction in the USDT area is not restricted. The opening time will be notified in the form of an announcement. [2019/9/29]

Alchemy Pay has developed Asia's first cryptocurrency and fiat currency mixed payment solution, which can provide fast, safe and convenient aggregated digital currency and fiat currency payment technology solutions for over one million online and offline merchants. Alchemy Pay is currently working on launching its second-generation decentralized payment system (ADPS2.0), integrating DeFi aggregation and the powerful Alchemy Trust system, and opening up a trusted authentication channel between centralization and decentralization. ACH is a token issued by Alchemy Pay, which is used to stimulate ecology, system access consumption and governance. The total amount is 10 billion, of which 51% will be dug up through continuous payment and financial ecological behavior after ADPS2.0 goes online.

Huobi Institute believes that the biggest pain point of digital assets in the payment scenario is that the prices of different currencies fluctuate, and the conversion is inconvenient. The advantage that Alchemy Pay can reflect is that when paying through it, merchants receive legal currency, while Alchemy Pay deducts different digital assets that have been converted by users. Such performance is more convenient in practical application and has a good development prospect.

Market Analysis

BTC continued to decline during the day, or fell relay

According to data from the Huobi trading platform, from the hourly line, BTC did not stand firm at the 10,300 level after pulling up last night. USDT. From the perspective of the four-hour line, BTC has gradually stepped out of the downward triangle arrangement since September 4th. It has dropped to 10,000  along the lower line of the triangle several times. Stabilize the 10,000 mark and the support level below 9,500.

According to data from the Huobi trading platform, ETH did not effectively stand firm at 350 within the day, and dropped slightly to the 335 line. Since September 6, the 1-hour-level K-line has gradually formed a 355-level K-line. The upper edge of the triangle sorting situation. The dipping range gradually decreases, and the trading volume continues to shrink, which may lead to a reversal of the market, but the longer the triangle arrangement takes, the more likely it will become invalid. At night, pay attention to the changes in trading volume, the support of 335 below and the resistance of 360 above.

In terms of contracts, big data from Huobi Futures shows that the open interest of BTC contracts is almost unchanged, the contract trading volume has dropped significantly, the market activity is low, the basis of delivery contracts has increased slightly, and the funding rate of perpetual contracts is almost equal to 0. Variety.

The decline rate of ETH contract positions slowed down and remained almost unchanged, and the contract volume decreased sharply. The market activity is low, the basis of the delivery contract has dropped slightly, and the funding rate of the perpetual contract is almost 0, and there is no change.

The price of USDT in the OTC market of Huobi Global is 6.91 yuan.


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