金曜日
金曜日
On the 15th anniversary of the release of the Bitcoin white paper, Canadian MP Joël Lightbound took the opportunity to speak in the Canadian Parliament to thank the anonymous creator Satoshi Nakamoto and advocate for people to study Bitcoin.When speaking in parliament, Lightbound revealed that he also owns Bitcoin, but will not advocate for people to buy Bitcoin, but will advocate for research into Bitcoin.He added that Bitcoin was born during the financial crisis. Over the years, Bitcoin has helped thousands of families avoid the tragedy of currency devaluation, and it represents the ideal of true progress.
MicroStrategy released its Q3 2023 earnings report, showing the purchase of an additional 155 BTC in October for $5.3 million.As of October 31, 2023, MicroStrategy held a total of 158,400 Bitcoins at a total cost of $4.69 billion, or $29,586 per Bitcoin.The report shows that MicroStrategy’s total revenue in the third quarter reached US$129.5 million, a year-on-year increase of 3%, software licensing revenue was US$45 million, a year-on-year increase of 16%, and subscription service revenue was US$21 million, a year-on-year increase of 28%.
Laevitas.ch data shows that Ethereum futures contango, which measures the difference between the two-month contract and spot prices, has reached its highest level in more than a year.In a healthy market, annualized premiums or basis rates should typically be in the 5% to 10% range. The data points to growing demand for leveraged ETH long positions.The futures contract premium surged from 1% on October 23 to 7.4% on October 30, surpassing the 5% neutral to bullish threshold. The spike in the metric came after ETH prices rose 15.7% in two weeks.
Citing data from IntoTheBlock, the number of large-value transactions on the BTC chain rose in tandem with the currency price last month, reaching a new high for the year.This seems to mean that institutional interest in BTC is increasing , and a similar drama also occurred in June this year .
Jurrien Timmer, global macro director at Fidelity Investments, said that although Bitcoin is often compared to gold, its value is growing faster than gold.He believes: “In my opinion, Bitcoin is a commodity currency that aspires to be a store of value and a hedge against currency devaluation. I view it as exponential gold.”In 2021, Jurrien Timmer said that he expected Bitcoin to gradually gain more market share from gold, and predicted that the price of Bitcoin would reach $100,000 by 2023.
水曜日
After DAI’s USDC reserves came close to falling below $60 million earlier today, MakerDAO moved $250 million from Coinbase to DAI’s Pegged Stability Module for use in maintaining the peg. .It is reported that PSM is a collateral pool that allows users to mint USDC in exchange for DAI at a 1:1 ratio and arbitrage DAI back to the US dollar.If PSM’s reserves are depleted, the price of DAI could go above or below $1.
Bitfinex analysts said that the increase in Bitcoin market liquidity over the past four months is an encouraging sign for the continued price recovery.Analysts said the increased liquidity gave traders confidence they could find buyers for their holdings.Thereby reducing investment risk and signaling increased demand for the asset, it said, adding that this was welcomed by high-priced traders and institutions who preferred an asset class that offered exposure and exit without high spreads.David Lawant, director of research at Flacon X, also believes that increased Bitcoin liquidity is a positive sign for the digital asset.
Ryan Rasmussen, an analyst at asset management company Bitwise, said in an interview that spot Bitcoin ETFs could bring in inflows of up to $50 billion to $100 billion in the next five years and could have a huge impact on Bitcoin prices.He also said that the SEC is expected to approve the ETF application as early as this December holiday, and Bitwise is one of the many applicants.
An executive at Pantera Capital said there will be a shift in the stablecoin space as providers need to offer money market yields to remain competitive.BTC and ETH, while extremely successful, have not lived up to many people’s initial expectations for cryptocurrencies.Fifteen years after the release of the BTC white paper, BTC’s lack of speed and scalability undermines its status as a good alternative to currency.
According to cryptoslam data, NFT sales on the Bitcoin chain reached $16,468,621.69 in October, an increase from August and September .In addition, the NFT transaction volume on the Bitcoin chain reached 51,187 in October, including 12,325 independent buyers and 12,276 independent sellers.
火曜日
Revoke.cash founder Rosco Kalis said that as long as scams and hacking are prevalent in the crypto industry, it will be difficult to attract enough new users to make cryptocurrencies mainstream.This trend will continue until cryptocurrency users fully understand how the industry operates. Addressing this common problem requires educating new crypto users on industry-specific security topics.A better solution is to give users the right tools to protect themselves without spending too much time on education.Tools that can enable pre-trade checks warn users of what their trade will do, making it easier to understand what the user is doing.
Brian Quintenz, director of policy at a16z, posted on social platforms that the UK Treasury has issued a conclusive statement on the regulatory system for crypto assets, and it is exciting.Andrew Griffith MP, Economic Secretary to the UK Treasury, has made the government’s interest in embracing blockchain and crypto innovation very clear, and the government’s ambition to make the UK a global hub for crypto asset technology remains firm.Now, with the future regulatory framework clearly outlined and the Financial Services and Markets Act having been passed, the UK is set to start and expand crypto asset businesses.
According to the picture published by Sir Doge of the Coin on the X platform, a poster at the entrance of a store shows that there is a Bitcoin ATM machine in the store.In response, Dogecoin co-founder Billy Markus commented that this is a lie.Sir Doge of the Coin responded: “ are useless at all, haha,” implying that it cannot use Bitcoin ATMs normally.CoinATM Radar data shows that there are currently approximately 27,032 Bitcoin ATMs in the United States. Furthermore, the number of Bitcoin ATMs is growing at a rate of 3.7 per day.
In testimony, U.S. prosecutors asked SBF: “Did you decide to spend billions of dollars on venture capital decisions in 2021 and 2022?”SBF responded: “I think a few billion dollars of it was my decision.”SBF also acknowledged his decision to spend billions on venture capital even before Alameda was ultimately hedged.Crunchbase data shows that FTX Ventures has invested in nearly 70 startups.
Billionaire Stan Druckenmiller told an investor conference in New York that he does not own any Bitcoin, admitting that this may be a mistake.He said in his speech: Frankly, I don’t own any Bitcoin, but I should. I’m 70 years old and I hold gold and I’m amazed at the growth of Bitcoin, it’s clear that young people see it as a store of value because it’s easier to generate income and for me in 17 years it has become As a brand, I like gold because it is a brand with a history of 5,000 years.
月曜日
According to analysis by global market research company Technavio, the global cryptocurrency market size is expected to grow by $1.81578 billion from 2022 to 2027.The market is expected to grow at a CAGR of 15.81% during the forecast period, with the North American market accounting for 48% of the global market growth.Technavio pointed out that the growing demand for digital payments has driven the growth of the North American cryptocurrency market, with the United States ranking the highest for growth, with approximately 8% of Americans having conducted cryptocurrency transactions.
“Rich Dad Poor Dad” author Robert Kiyosaki shared his portfolio allocation template for 2024 on the official X account. Robert Kiyosaki recommended Bitcoin, gold and silver instead of stocks and bonds.Robert Kiyosaki has been called a leading opponent of existing financial models, slamming financial experts and their seemingly foolproof portfolio allocation templates.Kiyosaki believes that the long-standing 60/40 recommendation model for smart investors is no longer ideal.
According to data from the Brazilian tax service, USDT usage has increased significantly in Brazil, accounting for 80% of all cryptocurrency transactions in the country.As of mid-October, USDT trading volume in Brazil this year reached 271 billion Brazilian reais , almost twice the volume of Bitcoin, which accounted for 151 billion reais . 30 billion U.S. dollars).Brazil’s USDT trading volume has been growing since 2021, surpassing Bitcoin trading volume for the first time in July 2022.At that time, it was at the peak of the storm in the cryptocurrency industry, and Three Arrows Capital and Voyager Capital collapsed.
According to L2BEAT data, the TVL of the Ethereum Layer 2 network is now US$12 billion, with an increase of 9.85% in the past seven days.Among them, Arbitrum One network TVL is US$6.63 billion, an increase of 10.78% in the past seven days; OP Mainnet network TVL is US$3 billion, an increase of 9.44% in the past seven daysThe zkSync Era network TVL is US$463 million, an increase of 15.45% in the past seven days. The Scroll network TVL is US$25.13 million, an increase of 72.42% in the past seven days.
Mintable CEO Zach Burks said the UK government is in danger of regulating NFTs in a way that is inconsistent with the nature of the emerging technology.Burks said he believed a recent UK parliamentary committee report grossly exaggerated the role NFTs play in copyright infringement and failed to recognize that they are more than just unstable digital images.And he believes that NFTs are in a transitional phase, where they are emerging from the speculative craze and are now entering a practical phase of implementing NFTs in a range of different things.
日曜日
Yann Allemann, co-founder of on-chain analytics company Glassnode, disclosed data on social media showing that Bitcoin spot exchange-traded funds are changing the global financial framework.The total assets of companies currently seeking approval for Bitcoin spot ETFs exceed US$15 trillion, and the potential demand is large. Once Bitcoin ETF spot is approved, institutional-level FOMO may trigger a bull market.According to previous news, financial institutions that have applied for spot Bitcoin ETFs in the United States include: BlackRock, WisdomTree, Invesco/Galaxy, Valkyrie, VanEck, etc.
In the past three months, the circulation of stablecoin FDUSD has increased significantly. Since August 4, 2023, the supply has surged 62% from 260 million coins to 423 million coins as of October 28, 2023. The surge in supply has caused FDUSD ranks among the top ten stablecoins by market capitalization.In addition, FDUSD has also seen a surge in global trading volume, with data showing that FDUSD ranked sixth among more than 10,000 existing crypto assets on Saturday.According to data from Coingecko, global FDUSD transaction volume reached US$1.62 billion in the past 24 hours.
According to Ultrasound data, so far, a total of 3,658,513.76 ETH have been destroyed on the Ethereum network.Among them, OpenSea destroyed 230,050.69 ETH, ETH transfers destroyed 306,008.50 ETH, and UniswapV2 destroyed 209,534.13 ETH.Note: Since the EIP-1559 was introduced in the Ethereum London upgrade, the Ethereum network will dynamically adjust the BaseFee of each transaction based on transaction requirements and block size, and this part of the fee will be burned directly.
The BitVol Index launched by financial index company T3 Index in conjunction with Bitcoin options trading platform LedgerX fell to 53.19 yesterday, a daily decrease of 2.44%.Note: The BitVol Index measures 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by the actual option price. It uses the B-S option pricing formula to derive the volatility by substituting the actual price of the option and other parameters except the volatility σ into the formula.The actual price of options is formed by competition among many option traders. Therefore, implied volatility represents market participants’ views and expectations for the future of the market, and is thus considered to be closest to the true volatility at that time.
土曜日
Sam Bankman-Fried told the court in testimony on Friday that when FTX was in its infancy, he planned to sell the company to Binance, in part because he was worried that he would not be able to recruit customers.SBF believes that FTX can be built as a place specifically to provide services for margin traders, and there are basically no companies in the industry doing this business at the time, so he expects exchanges like Binance may be interested in buying FTX.SBF told jurors he was ultimately convinced he could grow FTX well, even though he believed the exchange had only a 20% chance of success.“Considering that the largest exchanges at the time were multi-billion dollar companies, even a 20% chance was a huge opportunity,” he said.
According to data from DefiLlama, the market value of stablecoins has remained relatively stable at $124 billion during the recent Bitcoin rally, failing to break through levels last seen in early September.Analysts say stablecoin supply is a lagging indicator.But the lack of signs of recovery for stablecoins could be a sign that Bitcoin’s rally isn’t bringing new liquidity to crypto markets.
Senior Federal Reserve official Barr said stablecoins need to be regulated when an asset is pegged to a government-issued currency and used as a means of payment and store of value.It borrows the credit of the Federal Reserve, which therefore is very interested in ensuring that any stablecoin product operates within the appropriate federal prudential regulatory framework.This way they do not threaten financial stability or the integrity of the payments system.
Charlie Morris, founder of investment consulting firm ByteTree, said in his report that BTC rose by more than 14% in a week.The tech-heavy Nasdaq plunged amid gains in Bitcoin and gold, signaling a shift in the investment landscape away from the growing number of large U.S. tech giants.He said Big Tech stocks are expensive and the sector is no longer growing fast enough to justify the premium after poor results this week. Sure, they have plenty of room to lower costs, but real growth comes from sales rather than costs, which represents the end of an era for tech stocks and tech investors should get out of their positions as soon as possible.
Bitwise research analyst Ryan Rasmussen said advisors interested in cryptocurrencies typically consider allocating 1% to 5% of their portfolio to Bitcoin.Historically, BTC weighting has been at the lower end of the range as stocks and bonds offer attractive opportunities.But as professional asset allocators seek to hedge against the risks of rising inflation, economic uncertainty and geopolitical conflict, more are considering increasing the weight of Bitcoin in their portfolios.Rasmussen revealed that two-thirds of several asset allocators he spoke to are considering increasing their current allocations to 5% or more, with some starting from People not involved in crypto are also considering entering the market for the first time.
木曜日
The third quarter stablecoin report shows that the top 5 stablecoins by market share are: 1. USDT share is 69%, 2. USDC share is 21%, 3. DAI share is 3.2%, 4. TUSD share is 2.8 %, 5.BUSD share is 1.9%.In addition, the report shows that the market value of the top 15 stablecoins fell by 3.8%, or $4.8 billion, in the third quarter of 2023, and the current market value of stablecoins is $121.3 billion.USDT market capitalization remained stable in the third quarter of 2023, however, other stablecoin market shares increased by 2.6%.USDC’s market cap lost $2.26 billion in the third quarter, ranking first among stablecoins, while BUSD had the largest percentage decline, falling 45.3%.TUSD was the only one in the top five to gain, with a market capitalization increase of $390 million .
Crypto analyst Phyrex posted on the X platform that although the U.S. stock market has been cold recently, the price of BTC is still very strong.Judging from the current data transferred to exchanges, more than 70% of BTC are in profit almost every day.In the game between small-scale investors and high-net-worth investors, almost all of them have been increasing their holdings in the past 24 hours.
British lawmakers on Thursday passed a bill that would help law enforcement agencies seize and freeze cryptocurrencies used in crimes.The Economic Crime and Corporate Transparency Bill, which covers a range of crimes from drug trafficking to cybercrime, is expected to be approved by the king and come into force on Thursday.Provisions in the bill give local police broader powers and allow them to seize cryptocurrency in connection with a crime without a conviction.The bill was introduced last September and has since been amended to ensure the measures are expanded to cover terrorism.Separate provisions have also been added to help authorities seize other assets that could help identify cryptocurrencies linked to crimes.
火曜日
According to official news, Blockchain Life 2023 officially opened in Dubai today. TRON founder Justin Sun attended the conference online and introduced topics such as TRON and stUSDT.Justin Sun said that TRON has always provided users with powerful and comprehensive stablecoin services. The continued growth in usage and transaction volume drives TRON to become a deflationary network.He pointed out that TRON will continue to strengthen the DeFi ecosystem, and stUSDT TVL is expected to exceed US$3 billion this year.It is reported that stUSDT is the first rebase-based RWA protocol and is now running through the decentralized platform JustLend DAO.The stUSDT platform is committed to building a bridge between individual and institutional investors, the crypto world and the real world through smart contracts.
According to data from on-chain analysis application Watchers, Frog Nation’s former chief financial officer 0xSifu holds a short position of approximately US$21 million in Ethereum on the Synthetix perpetual contract.The current contract market price of Ethereum is US$1,833, while the average position price of 0xSifu is US$1,643, resulting in a floating loss of nearly US$2.22 million.Currently, 0xSifu still has a margin of approximately US$1.64 million to maintain the position. If the market price continues to rise to US$1,926, its position will face the risk of being liquidated.
Greeks.live said on social media that with Bitcoin hitting $35,000 today and ETH rising to $1,800, market sentiment has been completely dominated by bulls.The main term IV has rallied sharply and is trading near near six-month highs, continuing to rise even during the brief pullback.BTC Dvol has surged to 63%, more than half its value compared to less than 40% a week ago, and ETH Dvol has also grown significantly to 53%.
Arthur Cheong, founder and CEO of DeFiance Capital, said on his social platform that if the Bitcoin spot ETF succeeds.If BlackRock applies for an ETH spot ETF, Ethereum’s ESG friendliness and native staking yield will attract institutional investors.But this does not mean that the ETH/BTC exchange rate has bottomed, as all short-term focus will be on BTC and the Bitcoin halving is due in April next year.After the halving, the ETH/BTC exchange rate may bottom out.
Asset management giant BlackRock’s iShares Spot Bitcoin ETF has been listed on the Depository Trust and Clearing Corporation under the ticker IBTC and may be listed on the Nasdaq stock exchange.ETF analyst Eric Balchunas speculated on the X platform: They either got the green light from the SEC to list ETFs, or they just want to prepare everything.We still believe that multiple publishers will be approved and launched at the same time, and we will revise this view if we hear anything to the contrary.
月曜日
According to Thomas Braziel, a partner at 117Partners who specializes in FTX claims, the valuation of some FTX claims over-the-counter transactions has exceeded 50%, indicating that the market currently expects that about half of user assets will be recovered.On Friday, a bond worth more than $20 million sold at auction for about 52% of the price, but only the largest and cleanest bonds fetched that price.Enthusiasm surrounding the value of FTX’s claims has grown since artificial intelligence company Anthropic recently announced a number of large investments.FTX holds a large stake because it invested US$500 million in Anthropic, and Anthropic’s valuation gradually increased during the year. Creditors hope that the sale of Anthropic shares will help return funds to creditors, making full recovery possible.In a social media poll in January, a majority of respondents said they expected to recover only 25% of their funds.FTX debtors, led by current FTX CEO John Ray III, have since attempted to recover their funds, beginning to sell tokens and liquidate other assets.
MicroStrategy acquired approximately 5,445 Bitcoins for approximately $147.3 million between August 1, 2023, and September 24, 2023.MicroStrategy owned approximately 158,245 Bitcoins as of September 24, 2023, at a purchase price of approximately $4.68 billion, according to the company’s purchase documents.Amid the backdrop of market turmoil, the profitability of MicroStrategy’s Bitcoin holdings has taken a turn for the better.Given that the total price of MicroStrategy’s Bitcoin holdings averages $29,582 per coin, at a Bitcoin price of $30,000, the company has now achieved a total profit of approximately $67.4 million.
According to a CoinShares report, the inflow of digital asset investment products reached US$65.6 million for the fourth consecutive week, and the inflow in the past four weeks reached US$179 million.Following recent price gains, total assets under management have risen 15% since the lows in early September and now total nearly $33 billion, the highest since mid-August. 84% of inflows went into Bitcoin investment products, bringing year-to-date inflows to $315 million.In addition, Ethereum investment products saw a net outflow of US$7.4 million, and short-selling Bitcoin investment products saw a net inflow of US$1.6 million.Solana investment products saw another inflow of $15.5 million, bringing the inflow to $74 million so far this year.
Binance researchers said September was the worst month on record for NFT sales declines since January 2021.The base prices of major series such as Azuki, Bored Ape Yacht Club, and Mutant Ape Yacht Club have dropped by more than 25% month-on-month. NFT collections related to games and the metaverse experienced the largest decline last quarter, plunging more than 40%The average sales price in September was $38.17, down significantly from the August 2021 peak of $791.84.The number of daily independent NFT buyers also dropped 14% month-on-month to approximately 53,000. Analysts attributed this to challenging market conditions and low liquidity.
If history is any guide, Bitcoin’s rally fueled by optimism about new demand from exchange-traded funds is likely to continue.Data shows that over the past five years, when Bitcoin’s weekly gains reached the current level, it predicted that Bitcoin would rise by an average of 10% in the following month.Tony Sycamore, market analyst at IG Australia Pty, said there appear to be growing calls for a Bitcoin ETF to be approved before the end of the year, which would support Bitcoin in the medium term as it could bring more institutional players into the space.Sycamore said Bitcoin also received support from a change in tone from a Fed spokesperson.
日曜日
According to CoinGecko data, Bitcoin’s market share rose to a new high since April 2021, tentatively reported at 49.85%. Ethereum’s market share was tentatively reported at 16.6%.USDT’s market share is temporarily reported at 7.22%.The current total market value of cryptocurrency on the entire network is approximately US$1.1695 trillion, with a single-day increase of 0.55%.
Michael Saylor, founder and chairman of business intelligence firm MicroStrategy Incorporated, said betting on BTC is a good investment.SMicro Strategy remains the most firmly bullish Wall Street firm on Bitcoin. The company has not let up on its Bitcoin acquisitions since August 2020, and recently, it acquired an additional 5,445 Bitcoin units.This latest acquisition is worth $147.3 million, which brings the company’s total holdings to 158,245 BTC, with a purchase price of approximately $4.68 billion.While MicroStrategy’s overall holdings may not be profitable at the moment due to the asset’s average price, Bitcoin’s performance outperforms other underlying assets justifies its overall investment.
Data from The Block’s data dashboard suggests that cryptocurrency trading volumes have picked up as Bitcoin remains close to the $30,000 price threshold.The seven-day moving average of daily trading volumes across industry-wide spot platforms has been trending higher, increasing from $9.38 billion on September 26 to over $15 billion on October 20.To be sure, spot trading volumes for the asset class are currently at historically low levels.According to The Block’s data dashboard, trading volume on cryptocurrency exchanges last month was just $311 billion, the lowest level since 2020.
According to cryptoslam.io data, after weekly sales continued to decline in the past two months, NFT sales rebounded this week, with NFT sales soaring 12.62% from last week.Nearly two dozen blockchains have recorded NFT transactions worth approximately $70.51 million. Ethereum topped the list of NFT trading volume this week with a trading volume of $36.96 million, an increase of 16.09% from the previous week.Ethereum NFT sales this week were US$36.96 million, accounting for 52.41% of the week’s total.
Ethereum core developer smartprogrammer.eth submitted a new EIP request.The purpose of this EIP is to introduce a new version of the Ethereum peer-to-peer network handshake protocol , allowing Ethereum nodes to communicate their available block ranges.So that nodes can make more optimal decisions when choosing who to connect to, this can also be regarded as a step towards EIP-4444 .It is understood that this EIP belongs to Networking EIPs, which are specific to optimizing the Ethereum point-to-point network.
土曜日
U.S. Congressman Byron Donalds, who supports Bitcoin, has announced his candidacy for Speaker of the House of Representatives.U.S. Congressmen Byron Donalds, Warren Davidson, Young Kim, David Schweikert, and Tom Emmer jointly submitted the new bill “The House Companion of the Financial Freedom Act of 2022”.Designed to protect U.S. investors’ ability to add cryptocurrencies such as Bitcoin to 401 retirement plans.
According to data from ultrasound.money, the circulation of Ethereum has rebounded to over 40,000 since the merger when it was at its lowest.Previously, the circulating supply of Ethereum decreased by more than 300,000 coins compared with before the merger. Later, due to the reduction in network activities and the reduction of gas fees, the amount of additional issuance began to exceed the amount of destruction.The current circulating supply has dropped to approximately 257,000 coins compared to before the merger.