Justin Sun bids $6.24 million for 'A Banana' (BAN)
The famous banana artwork by Maurizio Cattelan (Comedian) was sold for $6.24 million at Sotheby's in New York. What makes this piece unique is that it is a real banana taped to the wall, destined to rot over time. In this auction, there were six bidders competing, and the intense bidding lasted for five minutes. Finally won by Tron founder Justin Sun. After winning the bid, Justin Sun stated that this is not just an artwork, but a cultural phenomenon that connects the art, meme, and cryptocurrency communities.
The Crazy Trading of a 12-Year-Old: The Fraud Case of the QUANT Token
The QUANT token was created through the popular Solana token launch platform Pump.fun. According to a report from the blockchain analysis platform Lookonchain, this teenager performed a rug pull during a live stream, quickly selling all tokens and earning 128 SOL (approximately $30,000). Specifically, he purchased 18.89 million QUANT tokens with an initial investment of only 2 SOL (about $460), and within just three hours sold 3.71 million of those tokens for 116 SOL (about $27,000), while the remaining 15.18 million tokens reached a market value of $962,000.
The Warning from the DEXX Incident: How to Protect Your Assets?
Recently, a shocking 'explosion' event occurred in the crypto circle. The decentralized trading platform DEXX claimed that user assets are 100% secure, and all operations are transparent on-chain. However, just last week, tens of millions of dollars in user assets were stolen overnight, leaving countless users confused and angry. This incident revealed the centralized risks lurking behind decentralized platforms. The truth behind the DEXX incident The technical architecture of DEXX superficially claims to be a decentralized exchange, but in reality, it adopted a centralized private key custody scheme to improve transaction speed and simplify user operations. While users' assets are verifiable on-chain, the private keys are controlled by the DEXX platform. This is akin to a bank keeping the keys to users' vaults in its own pocket, with the security of users' assets entirely reliant on DEXX's internal security measures.
Are Institutions Frenziedly Purchasing Bitcoin? — MicroStrategy
MicroStrategy announced on Monday evening that it plans to raise $1.75 billion through convertible notes to purchase more Bitcoin and for "general corporate purposes." These zero-coupon senior notes will mature in 2029 and are primarily aimed at qualified institutional buyers. If all goes well, the company expects to acquire up to 19,000 additional Bitcoins. Prior to this, MicroStrategy had swiftly put its recent Bitcoin purchases to use. According to the latest news, the company purchased an additional $4.6 billion worth of Bitcoin on Monday, bringing its total holdings to 331,200 BTC, with a total value now exceeding $30 billion at current prices.
Bitcoin and Ethereum ETFs hit new highs! Breaking records for crypto products
According to the latest report from European asset management company CoinShares, the managed assets of global crypto investment tools have reached a historic high of $138 billion. Behind this new high is the investment of $2.2 billion by investors into these funds last week. Background of fund inflows A report by CoinShares pointed out that the surge in this investment activity is mainly driven by two factors: first, the easing of monetary policy, and second, the comprehensive victory of the Republican Party in the recent U.S. elections. Investors have shown strong interest in spot ETFs (exchange-traded funds) listed in the United States, which provide a convenient Bitcoin investment channel for both institutional and retail investors.
Figure 1: JPMorgan Chase’s analysis shows that the z-score of the sentiment score reaches 3.4 and above, which means that market demand has increased significantly compared with the average level and has now reached a new high.
Figure 2: The options market for Bitcoin-related MicroStrategy (MSTR) stock also shows extreme bullish sentiment #市场回调,观望还是上车? $BTC
Ethereum ETF inflows remain strong, will the future target exceed $10,000?
Market Overview As the price of Ethereum (ETH) soars, the inflow of funds into the US spot Ethereum ETF is also increasing rapidly, with total inflows exceeding $800 million in the past week. This growth was mainly affected by the recent election of Donald Trump, and the net inflow of ETFs turned positive for the first time, ending the previous trend of fund outflows. Background of capital inflows According to the prediction of Matt Hougan, Chief Investment Officer of Bitwise, Ethereum ETF is expected to attract more and more attention from institutional investors by 2025. The realization of this trend is closely related to the price of Ethereum breaking through the new high of $5,000. Recent data shows that the US spot Ethereum ETF has achieved capital inflows for six consecutive days, with a total inflow of $146 million on Wednesday, of which Fidelity's FETH alone attracted more than $100 million.
Be prepared, the next few months will be the most critical moments of your life.
The bull market has arrived, and more people are preparing to make a big move into the crypto industry. This is the key moment for you to seize the opportunity and fight for a better future for yourself and your family. Over the past two years of the bear market, you have worked hard, overcome numerous challenges and setbacks, faced the tests of project failures, worthless coins, and exchange closures. The next 3 to 6 months will be a crucial moment that determines success or failure. Give it your all.