HONG KONG, CHINA - Media OutReach - 28 September 2018 - In the middle of August, about 20,000 short positions increased but only 3487 speculative long positions increased for COMEX gold futures, which is the first instance where the net long position for gold has changed into net short position ever since 2001. As a preferred choice for hedging, gold always enjoys an unshakable position. The above data shows that the rising of a new power represented by the digital currency like bitcoin poses a threat to the old power represented by gold.
Even in the bear market in 2018, the transaction volume of bitcoin exceeds that of gold. Digital currency derivatives and financial services bring in an emerging market valued at hundreds of trillions of dollars. Meanwhile, Mars Digital Asset Bank launches diversified digital asset financing products including fixed/variable term financing, private banking, pledge financing, miner financing, digital insurance, and contracts for difference. As a leading player, Mars Digital Asset Bank is expected to have over 300,000 registered users, accumulated business scale of USD 1.5 billion and total profit of USD 18.65 million by the end of 2018. With the upgrade of the blockchain technology, Mars Digital Asset Bank will embrace more new business models and enjoy rapid development.
In response to capital requirements on technical security, global promotion, team building, license applying and provisions for banking turnover, Mars Digital Asset Bank plans to raise USD 9.5 million by releasing 8% of its total shares in the first phase of offering.
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