In the past year, the price of virtual assets fluctuated like a "roller coaster". At the beginning of the year, the price was still at a high level. However, under the pressure of inflation, the US Federal Reserve continued to raise interest rates, causing asset prices to continue to fall. In addition, the stable currency UST, its sister Coin LUNA was "cleared" overnight, and the world's second largest cryptocurrency exchange, FTX, exploded and other events, which further affected the value of virtual assets.
Many celebrities also lost their hands, such as Justin Biebe, Jay Chou, and even Adrian Cheng, CEO of New World Development.
In recent years, virtual assets have become the object of pursuit by many investors, and the prices of related assets have reached new highs, especially virtual currencies. Taking Bitcoin and Ethereum as examples, the two mainstream virtual currencies hit nearly 67,000 US dollars last year. And an all-time high near the $4,700 level.
This craze has even reached the art world, and a new "art carrier" - Non-fungible tokens (NFTs) has emerged, and international auction houses such as Christie's and Sotheby's have also provided auction services, making NFT from The "small circle" of the blockchain has gradually expanded to the mainstream field, and celebrities and artists are rushing to launch or purchase "NFT" works.
The Hong Kong government also changed its policy stance and issued the "Policy Declaration on the Development of Virtual Assets in Hong Kong" to enter the virtual asset management business.
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80% of Bitcoin's high
The Hong Kong government also changed its policy stance and issued the "Policy Declaration on the Development of Virtual Assets in Hong Kong" to enter the virtual asset management business, hoping to enhance and consolidate Hong Kong's status as an international financial center.
However, this year global virtual assets almost ushered in a "Lehman moment". Affected by factors such as the Russia-Ukraine war, the US interest rate hike, and the worsening epidemic situation in the Mainland, the demand for capital safe-haven increased, the stock exchange plummeted, and the Hang Seng Index even fell below the 15,000-point mark. , The virtual asset market is also unavoidable. According to coinmarketcap data, Bitcoin once fell to a yearly low of US$15,883, and Ethereum also fell to the level of US$946, falling by more than 76% and nearly 80% from the high respectively.
Sam Bankman-Fried (SBF), known as "Brother Chips" and the founder of the encryption exchange FTX, was earlier indicted by the US Securities and Exchange Commission for a total of 8 counts, including wire fraud and violating federal election laws.
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Professional investors also lose hands
The regulation of virtual assets has also become a concern in the market. FTX, the world's second largest cryptocurrency exchange, exploded; UST, once the third largest US dollar stable currency, and its sister currency Luna were "cleared" overnight, and a large number of investors suffered losses , Even professional investors have accidents!
Japan's SoftBank Group Corp's Vision Fund, Sequoia Capital, and Singapore's state investment company Temasek all stated that they would write off all FTX investments; The founder, Calvin Cai (Calvin), is a celebrity in the currency circle. After the FTX incident, he blew up that as much as 20% of his assets were frozen, which is a great opportunity to end up "losing hands"!
Justin Bieber buys "Boring Ape" and its value drops 90%
The prices of other assets related to cryptocurrencies have also plummeted. For example, Canadian singer Justin Bieber bought Bored Ape Yacht for 500 Ethereum at the beginning of this year, equivalent to a sky-high price of 1.3 million US dollars at the time. Club) NFT.
However, according to OpenSea, the latest market value of a single NFT of the "Boring Ape" series is about 70.7 Ethereum, equivalent to nearly 90,000 US dollars, a sharp depreciation of more than 90%.
Jay Chou's own trendy brand "PHANTACi" and the Ezek platform jointly launched the "Phanta Bear NFT" on New Year's Day this year. The minting price of each is 0.26 ETH.
The first phase of the NFT issuance has been cleared in seconds, and set a record of earning 10 million US dollars in an instant.
At that time, the price of each ether was about 3,769.7 US dollars, so the price of Phanta Bear was about 980 US dollars.
However, according to Opensea data, the current "floor price" of Phanta Bear is 0.2682 ETH, which is only worth about 340 US dollars, a drop of 65%.
Zheng Zhigang's purchase of virtual land-related tokens fell by more than 90%
As for Adrian Cheng, CEO of New World Development (00017), in recent years, he has actively entered into the metaverse and NFT through private investment, such as investing in NFT project Azuki, virtual asset custodian Hex Trust, etc. At the end of 2021, he announced the purchase of The Sandbox for about US$5 million. One of the largest virtual lands, and established a virtual cultural center at the beginning of this year.
The valuation of the "virtual land" in The Sandbox involves different factors, such as who is the "landlord" of the nearby land. It peaked at more than 6.7 US dollars, and now it has depreciated sharply to about 0.5 US dollars, that is, it has fallen by more than 92%.
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