On March 9th, a black swan broke out in the global market: the negotiations on oil production cuts between OPEC (Organization of the Petroleum Exporting Countries) and Russia broke down, which led to the collapse of the major oil-producing countries’ alliances and triggered a full-scale price war. As soon as the news came out, the oil market collapsed immediately, and the price of oil in the Asian morning session plummeted by nearly 30%, reaching around $ 30.
Faced with such a sudden “black swan”, the global cryptocurrency market cannot stay away. Affected by this news, Bitcoin’s decline continued to expand following the previous day’s downward trend. On March 9, Bitcoin has fallen below $ 8,000, a drop of 10.08%, and Ethereum has fallen to about $ 200, a drop of 11.46%.
At 21:34 pm on March 9th, Beijing time, the three major US stock indexes fell across the board at the opening. The S & P 500 index fell 7% within the day, triggering the first layer of circuit breakers. The Nasdaq index fell 7.2% and droped to its lowest point since October 2019. The U.S. stock market over past more than three decades has only really triggered circuit breakers once: on October 27, 1997, the Dow Jones Industrial Index plummeted 7.18%, falling more than 1900 points, which is the biggest decline since 1915.
European stock markets fell collectively at the opening. The British FTSE 100 index fell 7.69%, the German DAX index fell 7.94%, and the French CAC40 index fell more than 8%. The performance of the Asia Pacific stock market was also not satisfactory. The Nikkei 225 index closed down 5.38%; the Topix TOPIX index closed down 5.61%. The three major A-share indexes fluctuated greatly. The SSE Composite Index fell to below 3000 points and closed down 3%.
On the same day, U.S. technology stocks tumbled, Tesla fell nearly 12%, Apple Corp fell nearly 9%, and Amazon, Facebook and Netflix fell nearly 7%. On Monday, affected by the COVID-19 epidemic and the Middle East oil “black swan”, oil prices once fell more than 30%, which is the largest one-day drop since 1991.
On the afternoon of March 9, gold turned into a decline. London gold now reached a minimum of $16.507.06 per ounce, giving up all the gains during the day. COMEX gold futures also fell below the $ 1670 mark, dropping 0.16%.
Against the background of Global stock market plunge and economic panic, the traffic entrance to the global next-generation value Internet, the construction of the IPSE distributed search ecosystem is running at a high speed. It has performed well in the global secondary market, with an increase of 9.60%, a transaction volume of 142,526,893.535 POST, and a transaction value of 40,724,209.28975 USDT. At 19:00 of March 7, Mr. Wu Shenjun, the founder and founding chairman of GSR Venture Capital and chairman of the board of GoldenSand Capital, announced to the public that the GSR Matrix Fund will invest additional US $ 10 million to IPSE. Immediate attention was drawn to the global capital market, which represented the recognition of the future development of IPSE distributed search by top global investment institutions.
The current global economy is generally weak and is experiencing the painful period of kinetic energy conversion. Blockchain, big data, artificial intelligence, etc. have become new driving forces. The upswing of the IPSE distributed search ecosystem based on IPFS distributed storage is in sharp contrast to the downturn in the oil, real estate, and financial industries.
POST is the IPSE ecological token, carrying the functions of ecological value circulation, user incentives and ecological boundary expansion. From the perspective of value support, the price of POST is the result of a combination of factors such as IPSE ecological development status, future development potential, and market expectations. Therefore, backward from the results, the GSR Matrix Fund ’s additional investment in IPSE represents the optimistic consensus of the global primary and secondary markets on IPSE.
At present, IPSE has obtained investment from several international top capitals. Technically, IPSE has started a comprehensive upgrade of 2.0. It will fully embrace the blockchain operating system Substrate. Ecologically, a closed loop has been formed, including the IPFS technology community, the IPSE community, and the mining hosting agency. The founding team of IPSE has a solid technical background and industry resources. It has worked in the field of blockchain technology, distributed computing, artificial intelligence and big data for many years. The core members have held important positions in Google, Baidu, Microsoft, Yahoo and other companies, and have internationally leading technical background and experience in resource integration.
IPSE is positioned as the next-generation value Internet traffic entrance. As a search engine, as Mr. Wu Shenjun said on the live stream, IPSE will gradually promote IPFS to the application, which will become Google in the era of blockchain and value interconnection and will have high industrial and commercial value. From all aspects, the contrarian growth of IPSE is not accidental. It will achieve considerable development in the future, and its value growth will also be reflected in the secondary market.