Virtual currency market analysis [June 1]

Cryptocurrency Practical Investment Newsletter

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Ranking of国内 and overseas cryptocurrency exchanges I choose

is here↓↓

http://bitcoin-newstart.com/exchange-japan-bitcoin

【Crypto Market Analysis】

Prices of cryptocurrencies since last week

and their fluctuations (one week) are summarized as follows

Display: Current price (change from one week ago)

Bitcoin

4,000,000 yen(-20%)

Ethereum

277,000 yen(20%）

Ripple109 yen（29％）

Polkadot2,340 yen（18%）

Binance Coin37,000 yen（31％）

Cardano178 yen（23%）

Uniswap2,800 yen（54%）

ICP　11,900 yen（-23％）

Bitcoin has remained at the same level as last week’s4,000万円

4,000万円を維持しています。

Bitcoin Daily Chart

Bitcoin is4,400万円～3,30万円の

price range, moving up and down in a sideways market.

Bitcoin is3 weeks ago−20％、2 weeks ago−20％

and has fallen sharply, now in a short-term range-bound market.

The lower end of this range, around330

appears to be attracting attention from institutional investors as well.

Bitcoin news to watch include

・Regulation of cryptocurrency in China

The Chinese government announced restrictions on cryptocurrency trading and

mining, which negatively impacted Bitcoin.

As Bitcoin’s price rises, so does its influence, which is why China’s regulation

to prevent capital from leaving the country may be inevitable.

Mining is also highly influential for Bitcoin in China, so the future remains a

topic of interest.

In terms of trading and mining, the government sees a good tax revenue affect,

so we are watching how these regulations will affect tax systems and where the settlement

will eventually land.

・Big hedge fund Ray Dalio owns Bitcoin

It has been speculated that Ray Dalio, who previously criticized Bitcoin, has

now stated ownership of Bitcoin, and even suggested it could be chosen over government bonds.

Investors who typically invest in traditional financial assets (stocks and bonds)

are now mentioning Bitcoin; this could be due to its performance (price appreciation) and

the reduced impact of Elon Musk, Tesla, and major payments companies like Mastercard or

Paypal.

Seeing such news makes it hard not to feel the turning of the times.

(Reference) Bitcoin price40 million yen threshold and future directionhttps://bitcoin-newstart.com/btc210529

【Coincheck to Launch Domestic IEO for the First Time】

Domestic firstIEOto commence this summer

Coincheck, Japan’s major exchange, will conduct a domestic first

IEOasan offering.

IEO involves a platform selecting projects and raising funds

through a sale of tokens.

This time, a project called Palette will issue cryptocurrency to raise funds.

This is a domestic first, so Japanese investors are keen to see details.

Three years ago, the Yamsa (fundraising project) was not a good comparison

in the eyes of investors who hope for a better outcome.

Coincheck is one of the exchanges that will move quickly on this type of project,

and we hope for a domestic boost in the upcoming IEO market.

To participate in Coincheck’sIEOyou must have an account with Coincheck.

Although domestic excitement is expected, we hope it will lead to further growth.

(Official site)

https://corporate.coincheck.com/2021/05/31/146.html

Coincheck Highlights

https://bitcoin-newstart.com/coincheck-bitcoin

【Beware of MetaMask Hacking】

Most people trading on decentralized exchanges like Uniswap use MetaMask.

When creating a MetaMask wallet, you must first record the secret recovery phrase, the private key.

If someone else learns this key, they can restore your wallet anywhere and send funds (steal).

Recently, hacks from MetaMask and theft of cryptocurrencies have been increasing.

If you store crypto on a domestic exchange, the exchange holds your assets, but with MetaMask you store privately, so you must protect your private key even more securely.

As you become more accustomed to crypto trading, many people originally stored private keys on paper offline, but

they then store them in online clouds like Google Drive or Evernote for convenience, which leads to hacks and theft.

Public Wi-Fi networks also increase the risk of MetaMask theft.

Always keep the MetaMask private key offline, and when using MetaMask for trading, avoid free public Wi-Fi and use a cellular tether or home network.

If storing in a personal wallet, be sure to follow these basics, because otherwise you may lose all your assets.

Conversely, if you properly secure your private key and network connection, using MetaMask for trading can greatly enhance your security.

(Because you don’t need to store assets on an exchange and can trade directly from your own wallet)

（Reference）【Important】Privacy risks and hacking cases of MetaMask

https://bitcoin-newstart.com/metamask-security