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On May 27, the Taiwan Affairs Office of the State Council held a regular press conference. A reporter asked: Regarding Lai Ching-tes speech on the second anniversary of his inauguration, some media outlets in Taiwan have pointed out that the DPPs current strategy has gradually shifted from pursuing "de jure Taiwan independence" to "substantive Taiwan independence in terms of identity and culture." What is your comment on this? Spokesperson Chen Binhua stated that there is only one China in the world, and Taiwan is a part of China. This is an unshakeable historical and legal fact, as well as a universal consensus of the international community. We will never tolerate or condone any form of "Taiwan independence" separatist activities.On May 27, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," introducing the relevant situation of "Promoting the Rule of Law in All Aspects." At the press conference, Huang Wei, Deputy Director of the Legislative Affairs Commission of the Standing Committee of the National Peoples Congress (NPC), introduced the implementation of the 15th Five-Year Plan outline and the legislative plan of the NPC Standing Committee. 2026 is the first year of the 15th Five-Year Plan, with 15 draft laws scheduled for continued deliberation, 19 draft laws scheduled for initial deliberation, and some projects to be reviewed in advance. Regarding accelerating the construction of a high-level socialist market economy system, the government will formulate the Law on Farmland Protection and Quality Improvement and the State-owned Assets Law, and amend the Enterprise Bankruptcy Law, Trademark Law, Certified Public Accountants Law, Enterprise State-owned Assets Law, Bidding and Tendering Law, Government Procurement Law, Price Law, Agriculture Law, and Tax Collection and Administration Law. The government will accelerate legislation in the financial sector, formulating the Financial Law and the Financial Stability Law, amending the Banking Supervision and Management Law and the Peoples Bank of China Law, and focusing on strengthening research and argumentation work on other legislation and amendments in the financial sector.On May 27, Teng Jiguo, Deputy Secretary-General of the Central Political and Legal Affairs Commission, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, strict law enforcement will be further promoted. The government will punish, according to law, illegal and criminal activities that have drawn strong public condemnation, such as telecommunications and internet fraud, gambling, drugs, illegal fundraising, and financial fraud. It will also improve the normalized mechanism for combating organized crime, effectively deterring crime and protecting the people.A Bank of Japan official stated that while rising long-term interest rates have indeed increased corporate borrowing costs, this must be considered in conjunction with the fact that corporate profits remain high.A Bank of Japan official stated that Japans real long-term interest rates remain negative in the short and medium term, which has the greatest impact on economic activity.

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.


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