Ethereum rises to $ 1900 level with latest high price update

Macroeconomics and financial markets

In the US NY stock market on the 4th, the Dow fell by $198 (0.59%) from the previous day, falling for the first time in five business hours. The Nasdaq closed softly at $63, or 0.52%.

Selling was preceded by fears of an economic slowdown as the number of JOLTS job openings fell below market expectations. In addition, it seems that the position has been adjusted while the employment statistics are ahead of the weekend.

connection:NY Dow and US stocks fall Tonight is the US March ADP employment statistics | 5th Financial Tankan

connection:Stock investment recommended for cryptocurrency investors, representative cryptocurrency stocks of Japan and the United States “10 selections”

Virtual currency market

In the crypto asset (virtual currency) market, Bitcoin rose 2.77% from the previous day to $28,701.

Ethereum (ETH) surged 6.06%, hitting the $1,900 level for the first time in eight months since last August. It has already moved above the $1,700 level, which is near the bottom of the 2021 bull market, and if it breaks the psychological milestone of $2,000, the momentum for a trend change is likely to increase.

In terms of Bitcoin, ETH/BTC has been in a bearish trend since September last year and has been on a downward trend almost consistently. is flipping forward.

Related: What is the ETH “Shanghai” Upgrade?Summary of each company’s view on staking cancellation and ETH selling pressure

Growing demand for gold

As gold prices rise, tokenized gold is being bought in the crypto asset (virtual currency) market.

The New York gold futures price rose again above the $2,000 level per 1 troy ounce. Due to the deterioration of the situation in Ukraine in August 2020, the price is approaching the all-time high of $2,070 in March 2022.

In the background, the series of failures of Silicon Valley Bank (SVB) in the United States and others caused global credit instability and concerns about persistently high inflation. This is due to the growing demand for flight to gold.

connection:The correlation coefficient between Bitcoin and gold reaches a record high, Dogecoin soars due to the influence of Twitter

Pax Gold (PAXG) is licensed by the New York State Financial Services Authority (NYDFS) and issued on the ERC-20 standard of the Ethereum (ETH) chain and is a physical gold reserve held by New York-based Paxos. Crypto assets backed by assets.

Monthly audits ensure that the total amount of gold held in reserves matches the token supply, pegged to 1 troy ounce of gold at a 1:1 ratio.

In terms of reserve asset backing, Tether Gold works similarly.

“The rougher the seas, the smoother we sail. Ahoy!”
Enjoy a picture featuring part of the 40 gold bars under Tether Gold control!

(We’ve removed the logo of our supplier for confidentiality reasons.) pic.twitter.com/jp5nXBjbLy

— Tether Gold (@tethergold) February 20, 2020

Paxos said in March 2020 about the merits of PAXG, “More than $100 billion is traded in the gold market every day, but it is currently available only to large institutional investors. PAXG is an exchange traded fund (ETF). There are no management fees or storage fees, and it is easy to carry (remittance) and can be traded 24 hours a day.The strength of this is that it can provide diversification to investors’ portfolios.”

In Japan, Mitsui & Co., Ltd. Digital Commodities Co., Ltd. has issued the crypto asset Zipang Coin (ZPG) linked to the value of gold.

The platform technology uses the proprietary blockchain “miyabi” developed by bitFlyer affiliates. It attracted interest, such as issuing 100 million yen worth in three months after launch.

connection:Mitsui Bussan Digital Commodities Issues Zipangu Coin (ZPG) Equivalent to 100 Million Yen

[Recruitment]Recruitment of new personnel due to Web3 business expansion

Japan’s largest cryptocurrency media CoinPost is looking for full-time employees and interns as it expands its Web3 business.

1. Media Business (Editorial Department)
2. Marketing operations
3. Conference management and launch work
4. Open Position (students welcome)

Details https://t.co/UsJp3v8mSH pic.twitter.com/B98JZmoQbW

— CoinPost-virtual currency information site-[app delivery](@coin_post) February 14, 2023

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