The background of the sharp drop in Bitcoin is the 4th domestic IEO “NIDT” that falls sharply below the public offering price

Macroeconomics and financial markets

In the US NY stock market on the 26th, the Dow Jones Industrial Average fell 228 dollars (0.68%) from the previous day, and the Nasdaq Index closed at 55 points (0.47%) higher.

A large-scale outflow of deposits was revealed in the financial results of the US regional bank First Republic Bank, and the stock price plummeted. Financial instability reignited.

connection:NY Dow First Republic continues to fall, significantly higher due to favorable financial results | 27th 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 2.19% from the previous day to $28,965.

BTC/USD daily

Around 4:00 Japan time, the price plummeted by $3,000, and long positions worth $189 million were cut (forced liquidation) in the crypto asset (virtual currency) futures market.

coin glasses

Alerts related to Arkham Intelligence, a blockchain analysis company that tracks the movements of large investors, have resulted in market overages due to notices of large remittances from the U.S. government and Mt.Gox digital wallets. It is believed to have prompted a reaction.

However, according to data analysis firm CryptoQuant, there was no change in the Mt.Gox wallet, such as evidence of remittances.

CryptoQuant

Malfunctioning of the alert was also suspected, but Arkham said, “Bitcoin plummeted between 19:17 UTC and 20:01 UTC (around 4:00 Japan time), but the alert notification was actually sent. It was 20:07 UTC,” denying a causal relationship with the sudden change in the market. He pointed out the mislabeling of “Mt Gox” and “US Gov” by the database Tier10k DB that spread alert information.

We have conducted an investigation of the DB Alert situation, and determined that the Arkham alerts were sent accurately in this case.

DB set two alerts on all Bitcoin transactions above $10k USD, with no counterparties set, then named the alerts “Mt Gox” and “US Gov”.

When we… pic.twitter.com/8OITiygNhL

—Arkham (@ArkhamIntel) April 26, 2023

Bloomberg reported in March this year that Mt.Gox’s largest creditor, the Mt. Regarding the coin, it has indicated a policy of continuing to hold it without choosing to sell it.

As for assets held (as of September 2019), in addition to cash and deposits of approximately 69 billion yen, 141,686 BTC and 142,846 BCH were reported.

connection:Bitcoin continues to fall as risk aversion strengthens, and fears of selling pressure from large Mt. Gox creditors may recede

Bitcoin addresses identified as belonging to the US government are believed to hold 215,000 BTC (worth $1.9 billion) of the hacking funds seized by investigators in the Silk Road incident.

Around 4:00 a.m., when the BTC price plummeted, there was an alert that Jump Trading had transferred $26.6 million worth of BTC to Binance, OKX, and Bybit, which may have been a selling pressure.

In the past hour, Jump Trading deposited a total of $26.6M of BTC to various exchange deposit addresses.

The main exchange deposited to was Binance, with Jump sending $23.7M to their BTC deposit address there.

However, they also sent $2.18M BTC to OKX and $720K BTC to Bybit. pic.twitter.com/AzoSeQMF55

—Arkham (@ArkhamIntel) April 26, 2023

altcoin

“Nippon Idol Token (NIDT)”, which was newly listed on the domestic crypto asset (virtual currency) exchange coinbook and DMM Bitcoin as the fourth IEO (Initial Exchange Offering) in Japan, fell sharply below the public offering price of 5.0 yen, and temporarily fell. It plummeted to 1.2 yen, down 76%.

NIDT/JPY 15 minutes

After that, the price rose from the bottom price and was traded at 2.86 yen as of noon on the 27th. NIDT is a unique token of the Web3.0 version of the idle project “IDOL3.0 PROJECT”, and is highly compatible as it is issued according to the ERC-20 standard of Ethereum.

In this IEO, the total sales amount exceeded 1 billion yen, but it did not reach the total sales amount of 1.5 billion yen (300 million NIDT).

The first domestic IEO pallet token (PLT), which was listed on Coincheck in July 2009, was flooded with purchases and the lottery rate reached 24.11 times, but at this NIDT, there was no lottery and the full amount was sold. was done. The funds procured will be used for the operation of “IDOL3.0 PROJECT”.

Yasushi Akimoto has been appointed as general producer, and the project will be managed by popular idol groups such as King Records Co., Ltd. AKB48, Nogizaka46, Hinatazaka46, Sakurazaka46, IZ*ONE, and =LOVE. It is expected that the staff involved in the training will be involved in a large-scale audition to determine the members of the idols this fall.

After the idol formation, in addition to activities in real places such as overseas expansion, concerts and handshake events, in the Web 3 area, virtual activities such as metaverse (virtual space) space and online.

connection:“Nippon Idol Token (NIDT)” is produced by Yasushi Akimoto for next-generation idols.

[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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