platform dominance
“Yesterday, the daily Bitcoin transaction was $40 billion. It seems like all the money in the world has flowed here.”
Fees for cryptocurrency trading vary widely depending on the exchange, but range from at least 0.1% to as high as 0.5%.
Since a fee is charged on both sides of the transaction, the commission earned on the exchange actually reached up to 1%.
If $40 billion is moved per day, the exchange’s profit will reach from a minimum of $80 million to a maximum of $400 million.
In addition, this amount does not include other cryptocurrencies or coin-based derivatives other than Bitcoin.
And it was Yooseong who held most of those exchanges.
“The commission income is terrifying. How many industries make $100 million a day? As hyung said, exchanges are more terrifying than cryptocurrency profits.”
$100 million is a very conservative estimate of earnings. In fact, the size of the revenue earned by the alliance during the booming period is several times more than that.
“It’s the same in any field. When you dominate the platform, you control virtually all revenue.”
“Of course it’s because the market is overheating right now.”
“It’s not going to be like that. Right now, people are paying the most attention.”
“So if interest decreases, trading volume will decrease.”
Yoojin shakes her head at Yooseong’s words, which seems to be natural.
“The focus is on the number of people participating in the investment. Even if the price of cryptocurrency falls, market entry will increase even more. Unless the cryptocurrency market completely collapses, that trend will continue.”
“I would.”
“So, we need to focus more on security and server expansion.”
“Even so, I’m not wasting any money on that. How many exchanges have already fallen over due to security issues? And recently, there are places where the server can’t handle it and it’s been down for hours.”
Exchanges managed by Yoosung have no problems, but even now, exchanges that are created by leaps and bounds have a lot of problems.
Various cases have appeared, such as being stretched out because they could not handle the surge in traffic, or having their cryptocurrency stolen by being hacked.
Of course, no one knows if it was really hacked.
With the surge of cryptocurrencies, many have started to see the market as a blue ocean where they can make a profit without spending too much money.
Originally, such exchanges would have been able to occupy a large share of the market, but it was not easy to compete with the exchanges that had already prepared Eugene’s perfect blueprint and huge funds three years ago.
The only strategy they could choose was to lower the fee and list a coin that others had not heard of.
Of course, there will be places where you can achieve your own success.
However, compared to the revenue generated by the Alliance, a coalition of coin exchanges dominated by Yuseong, it is not limited to a very small amount.
“By the way, Alexei and Zhang Xiwei are having a lot of fun this time.”
Alexei and Zhang Xiwei continue to invest in cryptocurrency derivatives.
Like stocks and other commodities, cryptocurrency derivatives can also be invested in declines.
And the core of the Russian and Chinese governments, who could directly create events that would shock the market, wanted to make a profit from this information.
Although the cryptocurrency market is independent of other physical and financial products, it cannot be free from administrative regulations of the Russian or Chinese governments.
Of course, it can not be used at any time like the report of the imputation, but it is certain that it can earn a lot of money.
Derivatives that invest in price declines are being traded on exchanges that Eugene knows not a lot, and a significant portion of them are playing a part in making money with Alexei and Zhang Shiwei, among others.
Before announcing a policy that will shock the market like this one, he holds a lot of selling quantity with appropriate leverage, then breaks the market by launching a policy such as a ban on cryptocurrency to take advantage.
Not just this one time. In the future, the two countries will coordinate with each other to adjust the price of cryptocurrencies with these policies at appropriate times.
Of course, I won’t always bring out the bad news. For them, the cryptocurrency market is a means to keep them in their pockets for a very long time.
At times, market-friendly announcements will create good news and grow the cryptocurrency market like fish in a farm.
“I will. There is no one more terrifying than someone with information.”
Eugene, who has accomplished tremendous feats in a short period of time using future information, knows the power of information best.
And Eugene was also fully aware that this wasn’t the first time Alexei or Zhang Xiwei had benefited from special information.
The Russian tsar and the Chinese leaders have below them geniuses who can calculate as closely as possible to the facts how the market will be affected by a particular policy announced by government authorities, and how it will react.
In financial markets and in the spot market, whenever information that can shock the market arises, it instructs the person in charge of the asset to take advantage of it.
In a democratic society, it is clearly an act that deserves punishment as corruption, but to them, it is merely the exercise of a property right.
“Alexei would have made at least three billion dollars, and Jiang Xiewei would have made twice that amount.”
Yoosung, who dominates the exchange alliance that handles the absolute amount of cryptocurrency trading volume, can find out a lot of information through various data.
“They would have done more with the exchange they had in their hands.”
“So.”
It is for this reason that Alexei and Zhang Xiwei each needed a crypto exchange, even an exchange with quite a few members, at a considerable price.
They make profits through derivatives on the exchanges they control and also earn commissions.
Moreover, exchanges that are free from the regulations of each country’s financial authorities can use their profits and expenses at will.
For them, it is a gold market that cannot be missed.
There is nothing particularly bad about the Eugene brothers. Even after handing over some exchanges to Alexei and Zhang Shiwei, they still have a sufficient stake in them.
Thanks to them, if the exchange makes a high profit, as a result, Eugene’s profit goes up.
Of course, as such profits grow, Alexei or Jiang Shiwei will want to take full ownership of the exchange, and if so, then go ahead and get a generous price and wash their hands.
More importantly, as long as the Russian and Chinese rulers continue to profit from cryptocurrencies like this, they don’t have to worry about the profits of the cryptocurrency market.
China and Russia cannot completely destroy the cryptocurrency market, even in order to preserve the profits that are accumulating like cheap money.
“Alexei and Zhang Shiwei will always repay you.”
So far, the two have been able to earn a lot of money thanks to Eugene’s favor.
Of course, that’s not the two’s assets, but in the meantime, each of them will have a lot of junk.
* * *
The market crash was only the beginning.
“Twenty thousand dollars have collapsed. I can’t see the real floor anymore.”
The coin price, which once started to collapse, showed no sign of recovery and fell day by day.
It only took two days for $20,000 to become $15,000 again.
“Ripple is more terrifying. It fell to a quarter in ten days.”
During this period, Ripple has risen so much that it cannot be compared with any other cryptocurrency.
Compared to a year ago, it has risen by a whopping 1,000 times.
This is due to the price of Ripple, which has only been hovering around $0.005 for a long time due to the high issuance volume.
Because the price is so low, it created an optical illusion for investors.
As I climbed so much, the descent was terrifying.
As Bitcoin, the leader, plummeted, Ripple fell in a sharp graph as if it were falling from a high-rise building, and the hearts of investors were also being dragged down into an abyss where there was no bottom.
“Whether it’s Ripple or Ethereum, everyone has a song.”
Contrary to the content of his words, Yooseong was just relaxed.
That’s partly because he’s the leader of the cryptocurrency exchange alliance and can make a profit in any situation, but also because, following Eugene’s instructions, they also made some investments in derivatives.
Of course, considering Eugene’s assets, it’s a small investment, but in reality, it’s an amount that anyone can say out loud.
Already predicting the first collapse of the cryptocurrency market, there is no reason not to invest.
As the market went up and down, Eugene’s pockets got thicker and thicker.
“The market is dying, but the derivatives market is getting bigger.”
“It shows that investors are feeling that much fear. You’ve suffered a lot of losses so far, so to make up for it, you need to invest more capital than before… … .”
“Or maybe you should use leverage.”
Investors who have lost more than half of their investment of 100 million won, rather than continuing their investment with 50 million won, try to make up for it quickly by increasing their investment, even if they are in debt.
And for derivatives provided by the exchange, the process of reaching such debt is too simple.
As always, while participating in the trade, simply increase your leverage ratio lightly.
At first, try lightly with double leverage.
Investors who use leverage for the first time are likely to use leverage on their next investment, whether it makes a profit or a loss on that investment.
As with everything in the world, the first time is difficult, and the next time, the process of worrying will be omitted.
And gradually the size of the leverage increases.
If anyone has benefited from double leverage, why did I only use double? Increase the leverage ratio because of the regret of doing so.
Otherwise, increase your leverage ratio to recover your losses quickly.
“These days, the number of investors using ten or twenty times leverage has increased tremendously. Of course, if you spend ten or twenty times like that, the fee will be ten times as well, twenty badges.”
As a result, the use of leverage is increasing, and the profit of the exchange is also increasing.
“There are many cases where leverage of 100 times is used. To be honest, I don’t understand that.”
If you use 100x leverage, you will lose all your bets even if only 1% of the current value goes in the opposite direction of your investment.
Of course, investors think the exact opposite. It is thought that even if only 1% of the fluctuations match the investment, the invested money will be doubled.
However, it is difficult to solve the world affairs as you think. At first, as you might think, you’ll double your capital with just a 1% change, but there’s no guarantee that that good fortune will last.
If you continue to invest many times, you will inevitably incur losses, and with that one loss, you will blow away all the capital you have earned up to that point.
“It’s the same whether it’s a stock or a coin.”
The leader of the Alliance was stingy at the behavior of such investors and vowed not to invest, let alone buy a single lottery ticket.