🚫Singapore bans Polymarket, crypto prediction platform in turmoil again!

As global regulators continue to investigate Polymarket's handling of millions of dollars in political bets, the platform is facing increasing scrutiny and regulatory pressure!

Recently, Singapore's gambling regulator blocked the crypto prediction platform Polymarket, which was identified as an "illegal gambling website" for handling gambling activities related to the US election.

The incident was first exposed on Sunday night, and Alex Zuo, vice president of Cobo Investment and Custody, posted a screenshot of the official notice on X.

Currently, users in Singapore who want to access Polymarket will receive a warning from the Gambling Regulatory Authority of Singapore (GRA). Although neither the GRA nor Polymarket has issued an official statement or responded to requests for comment.

However, internal tests have shown that the front end of Polymarket can still be accessed through VPN routing to the Singapore server. There are still sources who say that they can still access the website, and the analysis may be because they have not cooperated with major telecommunications operators in Singapore.

The Singapore GRA's warning is based on its 2022 Gambling Control Act, which stipulates that those who participate in unlicensed gambling services will face heavy fines and even possible imprisonment.

Singapore's move is closely related to Polymarket's complicated regulatory history.

Polymarket was previously blocked and withdrew from the French user market because a trader placed a large bet on Trump winning the election. In the United States, regulatory scrutiny of Polymarket is no longer limited to the regulation of gambling.

Polymarket once reached a settlement with the CFTC, resulting in the blocking of US users. In November last year, the FBI raided the apartment of Polymarket's CEO, but its spokesman attributed it to "political retaliation", which caused great controversy in the market.

Last Friday, the Commodity Futures Trading Commission issued a subpoena to Coinbase for customer information related to Polymarket transactions.

It is worth noting that despite the constant regulatory challenges, Polymarket's users are still growing, with the number of monthly active users in December alone increasing significantly compared to November.

In summary, Polymarket’s development journey has been full of ups and downs. What do you think of the impact of various countries on decentralized markets and applications?

#Polymarket #新加坡封禁 #加密预测平台

📨 Meta shareholder proposes: convert part of the company's cash into Bitcoin to increase shareholder value and resist inflation

Meta, the parent company of Facebook, recently had a shareholder make a bold suggestion. The shareholder, named Ethan Peck, suggested that Meta's CEO Mark Zuckerberg convert part of the company's $72 billion in cash into cryptocurrencies, especially Bitcoin. Peck believes that this move can both increase shareholder value and effectively resist inflation.

Cryptocurrency analyst Tim Kotzman revealed in the X post that Peck works at a research institute in Washington, DC, and he submitted this proposal on behalf of his family's shares. Peck pointed out that 28% of Meta's assets are gradually depreciating on the balance sheet due to shrinking cash and bond yields not keeping up with the inflation rate.

Peck believes that the company should consider replacing some assets with assets that have the potential to appreciate more than bonds, such as cryptocurrencies, even if they are more volatile in the short term. Peck sees Bitcoin as the best anti-inflation option and claims that Meta's shareholders should enjoy the same responsible corporate asset allocation strategy as implemented by the company's directors and executives.

Peck also proposed a reference case that Meta could learn from BlackRock's approach and allocate 2% of its assets to Bitcoin. He pointed out that Bitcoin has risen by 1,265% in the past five years, outperforming bonds by an average of 1,262%, and soared 124% in the past year alone. At present, many listed companies have included Bitcoin in their asset pools, which has become a common phenomenon in the corporate world, and they said it is a financial strategy that is beneficial to the company.

Peck said that as a leader in technology trends, Meta has a chance to become a pioneer in institutional Bitcoin adoption if it can seize this opportunity. Finally, he concluded that Meta needs to seriously evaluate the potential benefits of converting a small portion of cash and bonds into Bitcoin.

In summary, if Meta adopts its shareholders' bold proposal to convert part of its cash into Bitcoin, it is expected that Meta will promote the integration of technology and finance under institutional Bitcoin adoption. However, given the high volatility of the cryptocurrency market, Meta needs to carefully weigh the risks and benefits.

💬 Do you think Meta will adopt this suggestion? If adopted and implemented, do you think it is a bold innovation or a risky move?

#Meta #比特币 #加密货币投资 $BTC

🎨 After Trump's victory, financial advisors are increasingly focusing on cryptocurrency

A recent survey by Bitwise shows that many financial advisors have been considering investing in the cryptocurrency market since Trump's election.

22% of investment advisors reported that they allocated cryptocurrency in their clients' accounts in 2024. This is double the rate of 2023 (11%) and higher than in any previous year.

During the period from November 14 to December 20 last year, 430 financial advisors who participated in the survey generally expressed a more optimistic view than ever before. Bitwise Chief Investment Officer Matt Hougan believes that the survey results will dispel doubts about whether 2024 will be a turning point for cryptocurrency, and professionals are increasingly optimistic about the potential of cryptocurrencies, with allocation levels reaching new heights.

In the past year, client interest in cryptocurrency has surged, with 96% of wealth managers receiving inquiries from clients about cryptocurrencies. Among clients who already have cryptocurrency allocations, 99% plan to continue holding or even increase their holdings in 2025.

Additionally, 19% of financial advisors plan to make their clients' first cryptocurrency purchases in 2025, compared to only 8% last year. Furthermore, 71% of advisors reported that their clients have independently included cryptocurrencies in their personal investment portfolios.

Despite clients' strong interest in cryptocurrencies, only 35% of financial advisors are actually able to make purchases, with most still not entering the space. However, Hougan believes that as the cryptocurrency industry moves towards the mainstream, this percentage will increase in 2025. Meanwhile, although regulatory uncertainty remains an issue, its impact has diminished, with only 50% viewing it as the main barrier to future growth, a significant decrease from the previous 60% to 65%.

Bitwise has announced plans to establish a new fund focused on investing in companies holding over 1,000 BTC. They are extremely optimistic about 2025, declaring that the “golden age of cryptocurrency” is approaching.

With the increase in market activity, the cryptocurrency market may usher in a prosperous scene that is worth our collective attention.

💬 Do you think the cryptocurrency market will enter a “golden age” in 2025? If you were a financial advisor, would you recommend your friends and family invest in cryptocurrency?

#加密货币投资 #理财顾问 #特朗普效应 #2025加密货币展望

💰 The US BTC spot ETF saw a net inflow of $307 million last week, while the ETH spot ETF experienced a net outflow of nearly $186 million.

According to the latest data from SoSoValue, the Bitcoin spot ETF had a total net inflow of nearly $307 million last week, marking two consecutive weeks of net inflows.

Among them, the BlackRock Bitcoin ETF (IBIT) had a net inflow of nearly $498 million, ranking first in single-week net inflows, bringing its historical total net inflow to $37.67 billion; the Grayscale Bitcoin Trust (BTC) had a weekly net inflow of $75.23 million, with a historical total net inflow of nearly $924 million. The ETF with the highest net outflow was Ark & 21 Shares ETF (ARKB), which saw a single-week net outflow of $202 million, with a historical total net inflow of $2.49 billion.

Currently, the total net asset value of Bitcoin spot ETFs has reached $107.64 billion, accounting for 5.74% of Bitcoin's total market value, with a cumulative total net inflow of $36.22 billion.

Meanwhile, Ethereum's spot ETF recorded a total net outflow of $186 million this week, marking two consecutive weeks of net outflows.

Among them, the Fidelity Ethereum ETF (FETH) had the highest net outflow, with a single-week outflow of $276 million, bringing its historical total net inflow to $1.33 billion. Grayscale's Ethereum Mini ETF (ETH) had a weekly net outflow of $14.6 million, with a historical total net inflow of nearly $592 million. However, the BlackRock Ethereum ETF (ETHA) achieved a single-week net inflow of $124 million, bringing its historical total net inflow to $3.68 billion.

Currently, the total net asset value of Ethereum spot ETFs is $11.61 billion, accounting for 2.96% of Ethereum's total market value, with a historical cumulative total net inflow of $2.45 billion.

In summary, this week the US BTC spot ETF continued to outperform the ETH spot ETF, possibly reflecting increased market interest and confidence in Bitcoin. This change may hint at potential shifts in market dynamics and investor preferences ahead!

💬 What do you think about this trend of capital flow? Will it affect the market's upcoming trends?

#比特币ETF #以太坊ETF #市场趋势 #资金流动

🤷‍♂️Cardano founder Hoskinson speaks out on controversy, ADA price falls!

Cardano founder Charles Hoskinson recently defended Input Output Global (IOG) on the X platform, refuting criticisms about ADA holdings and network adoption, but Cardano (ADA) prices continued to fall on Sunday.

Hoskinson pointed out that IOG's ADA is the profit earned through its own efforts to build Cardano, not unwarranted. He also emphasized that IOG and the Cardano Foundation (CF) hold different ADA. CF's ADA comes from donations and has the responsibility to promote the development of the ecosystem.

As for the outside world's speculation whether IOG will use ADA to support Circle's USDC stablecoin integration, Hoskinson does not seem to agree. He even accused a former CF employee of attempting to "tamper" with the historical record of blockchain integration of stablecoins.

The employee had criticized the Cardano network for its slow progress in this area, and Hoskinson countered that CF had missed the opportunity to integrate USDC for $3 million in 2021, when its assets were worth nearly $2 billion.

Hoskinson also accused: "It was their employees who rejected the deal, but now they are tampering with history, evading responsibility, and distorting it into a power struggle. I am glad that you are no longer working at IOG. We do not tolerate dishonesty."

Hoskinson's remarks also exposed the tension within the Cardano ecosystem, and all parties are working hard to influence the key decisions that will affect the future development of the blockchain.

According to TradingVeiw data, the price of Cardano is currently around $0.95.

Since its launch in September 2017, Cardano is now preparing to integrate with BitcoinOS, which is expected to release more than $1.4 trillion in liquidity. At the same time, the development team is also actively promoting the ecosystem expansion project Midnight.

In addition, with the election of Donald Trump as president, the more relaxed regulatory policies on cryptocurrencies that he may adopt may bring benefits to Cardano.

As for the launch of the ADA spot ETF, it may take some time at present, but many cryptocurrency commentators are generally optimistic about its prospects.

💬Are you optimistic about the ecological development of Cardano? What impact do you think this controversy will have on the future development of Cardano? Leave a message in the comment section to discuss!

#Cardano #加密货币 #区块链 #ADA

📉 Musk's cost-cutting plan is frustrated, and the "government efficiency" theme meme coin has fallen in value

The decline in the standards of Musk's cost-cutting plan has led to a drop in the value of the meme coin named "Government Efficiency". The meme coin, named after the new Department of Government Efficiency in the upcoming Trump administration, aims to implement cost-saving measures, and its price plunged sharply on Sunday.

The DOGE token, launched in 2024 as a satire on government fiscal spending and bureaucracy, has fallen 18% in value in the past 24 hours. Another token with a dog logo with a MAGA hat pattern fell 20% on Sunday.

The real DOGE is a community of top business leaders dedicated to fighting bureaucratic waste, led by Elon Musk and Vivek Ramaswamy, with an initial goal of cutting $2 trillion from the federal budget.

This week, Musk updated his forecast, believing that achieving a $1 trillion cut would be a significant achievement. In an interview on X, Musk said: "We are striving for $2 trillion, and there is a good chance that we will achieve the $1 trillion goal, which will unleash economic vitality and reduce inflation, and it will be an epic achievement."

After Musk's comments, the value of the token DOGE inspired by the agency fell sharply. He mentioned: "People tend not to care much about costs and benefits when using money that does not belong to them." He also emphasized that federal regulations often put large projects at legal risk or cost increases.

In fact, DOGE is not a formal part of the government and has no actual power to cut spending or implement policies. It mainly makes suggestions to the White House to cut spending.

Technology reporter Kara Swisher once interviewed Musk and was not surprised that Musk lowered his expectations for DOGE. She said on social media X: "Musk often talks big, but the results are not as expected." She also mentioned Musk's hyperloop, robot taxi and self-driving car projects as examples, and added: "Interestingly, when he is silent, he can make excellent products."

Do you think the sharp drop in the meme coin market this time is closely related to Musk's remarks? Will you use your own funds to bet on the future value of meme coins due to market sentiment? Leave a message in the comment section to discuss!

#DOGE #马斯克 #政府效率

🎉Bitcoin spot ETFs celebrate their first anniversary: ​​4 funds rank among the top 20 US stock ETFs in terms of AUM!

Bitcoin spot ETFs celebrate their first anniversary, and 4 of them have successfully ranked among the top 20 ETFs with the largest AUM, performing quite well!

Among the many Bitcoin spot ETFs, BlackRock's IBIT has performed the best, standing out among nearly 4,000 ETFs with an AUM of over $37.6 billion. BlackRock's AUM also exceeds $52 billion.

Following closely behind is Fidelity's FBTC, which has an AUM of nearly $20 billion. In addition, ARKB, jointly managed by 21shares and ARK Invest, and BITB, managed by Bitwise, also performed well, reaching AUMs of nearly $4.4 billion and $4 billion, respectively, ranking 16th and 18th, respectively.

These four ETFs were the best among the top 20 ETFs listed last year. If we expand the list to the top 100, VanEck's Bitcoin ETF HODL also made the list, with $1.3 billion in AUM, ranking 99th.

In terms of net flows, the two largest spot Bitcoin ETFs, IBIT and FBTC, accounted for more than 4% of the global $1.14 trillion in flows, both ranking in the top 20, with IBIT following closely behind iShares Core S&P 500 ETF (IVV) and Vanguard S&P 500 ETF (VOO).

Another important milestone is that Bitcoin ETFs surpassed gold ETFs in terms of inflows in their first year. According to the Bitwise report, gold ETFs attracted only about $2.5 billion in inflows in their first year, while US-traded Bitcoin ETFs attracted more than $37 billion in their first year, significantly higher than the nearly $30 billion inflows of gold ETFs in their best year.

More significantly, as of mid-December, the cumulative AUM of all Bitcoin ETFs (covering spot, derivatives and leveraged products) has surpassed the total AUM of gold ETFs. Despite a large outflow of nearly $570 million on January 8 this year, as of the close of January 10, the spot Bitcoin ETF in the US market still achieved a net inflow of $307 million this week.

What do you think of the performance of the Bitcoin spot ETF on this anniversary? Are you optimistic about Bitcoin's market performance this year? Leave a message in the comment area to discuss!

#比特币ETF #资产管理规模 $BTC

💼Standard Chartered Bank establishes a physical presence in Luxembourg, entering the EU cryptocurrency custody sector

Standard Chartered Bank has recently set up a new entity in Luxembourg, specifically responsible for cryptocurrency custody services in the EU, marking a key step in their provision of custody services for crypto and digital assets to EU clients.

The initial focus of this entity will be on Bitcoin (BTC) and Ethereum (ETH), with plans to expand services to other assets later in 2025.

Why choose Luxembourg? The main reason is that Luxembourg's regulatory and financial environment is well-balanced, adequately meeting the needs of EU clients for Bitcoin custody services.

Before starting operations in Luxembourg, Standard Chartered Bank launched Bitcoin and Ethereum custody services in the United Arab Emirates (UAE) and collaborated with Brevan Howard Digital. These actions are part of its global strategy aimed at expanding digital asset products following the implementation of the MiCA regulation.

According to the MiCA regulation, cryptocurrency exchanges recognized as Crypto Asset Service Providers (CASP) must adhere to a very strict framework to operate in the EU. They must first obtain authorization from national regulatory authorities, meet financial stability benchmarks, and ensure operational transparency.

Simultaneously, these exchanges are required to implement robust consumer protection measures, including clear service terms, transparent fee disclosures, and strong security systems to safeguard user funds and data. They also need to maintain operational transparency by reporting trading volumes, disclosing conflicts of interest, and keeping detailed trading records.

Additionally, the anti-money laundering (AML) provisions of MiCA require exchanges to execute “know your customer (KYC)” processes and monitor suspicious transactions, retaining data to assist relevant authorities in investigations.

However, meeting these standards can be challenging, necessitating advanced compliance technology and significant resource investment. Smaller exchanges, in particular, face immense pressure in meeting financial stability requirements and navigating complex compliance infrastructures.

💬 What do you think of Standard Chartered Bank's move? Does it mean that cryptocurrency custody services will become increasingly regulated and widespread in the EU? Feel free to leave your thoughts in the comments section!

#渣打银行 #加密货币托管 #欧盟 #数字资产

🔍Bitcoin will not suffer a supply shock in 2025!

I recently saw an interesting study about whether Bitcoin will experience a supply shock in 2025. Experts have always said that the halving of Bitcoin, the increasing interest of institutions, and the possible launch of a spot BTC ETF in the United States will limit the supply of Bitcoin, which may break the 4-year cycle theory and keep the price rising. But CEX.IO's new report says that this is unlikely to happen in 2025.

The report analyzes the changes in LTH supply after the halving event. Historical data shows that halving will cause a large number of tokens to transfer from LTH to short-term holders (STH), thereby increasing market liquidity. In 2024 alone, LTH's supply dominance fell by 9%, releasing 1.58 million BTC to the market. It is expected that 1.4 million BTC will be transferred from LTH to STH in 2025, which is enough to cope with the increase in institutional or government demand.

As for the impact of ETFs on market supply shocks, the report believes that its actual effect is very limited. US spot Bitcoin ETFs have accumulated more than 1.13 million BTC in 2024, but these are mainly achieved through spot trading, which puts less pressure on market supply. In addition, ETFs account for less than 4% of total Bitcoin trading volume, indicating that their ability to drive systemic supply imbalances is limited.

The report also mentioned that market liquidity and foreign exchange reserves are key factors. Although the Bitcoin reserves held by exchanges fell to a record low in 2024, this was mainly due to transfers to cold storage rather than liquidation, reflecting the market's long-term confidence in Bitcoin.

At the same time, the increase in holdings on OTC trading platforms indicates that liquidity is being redistributed rather than exhausted. Coupled with the stable daily transfer volume, it shows that the market is balanced and active. The market depth indicator also shows that liquidity conditions are gradually improving.

Overall, these factors indicate that the supply of Bitcoin is still strong, so there is little possibility of a major supply shock in the next year. Instead, the report believes that the market will achieve moderate growth within the established 4-year cycle framework. Do you agree with this view? Leave a message in the comment area to discuss!

#比特币 #供应冲击 #市场分析

🎉The UK regulates the scope of cryptocurrency pledge regulation to empower the development of blockchain

The UK Treasury recently updated the Financial Services and Markets Act 2000 and confirmed that cryptocurrency pledges are not regulated by collective investment schemes.

What is cryptocurrency pledge? Simply put, it means that blockchain users lock their native tokens in the blockchain network to participate in the transaction verification process of proof-of-stake blockchain networks such as Ethereum, so that users can receive additional tokens as rewards.

The UK Treasury's amendment clearly states that this pledge behavior does not count as a collective investment scheme. Collective investment schemes generally refer to people putting money together to share profits or returns, such as investing in exchange-traded funds or mutual funds. Such institutions are regulated by the UK Financial Conduct Authority.

At the same time, the newly revised law emphasizes that "qualified crypto asset pledge arrangements" are not considered "collective investment schemes", thus clearly drawing a line between asset pledges and traditional investment models. In addition, the amendment is scheduled to take effect on January 31 and will apply to the four constituent countries throughout the United Kingdom.

Bill Hughes, a lawyer at Consensys, praised the development by the UK Treasury, which he considered a positive move. He pointed out that "the way blockchain works is not essentially an investment plan," but should be seen as a form of "cybersecurity." This statement is also in line with the broader efforts of British officials to focus on regulating crypto assets and staking services in innovative ways while working to reduce legal uncertainty.

As early as November, the UK Treasury announced plans to introduce legislation specifically for cryptocurrencies, which will focus on stablecoins and staking exemptions, with the aim of increasing the UK's attractiveness to blockchain companies.

Prior to this, in October, the UK Parliament also proposed a proposal to classify digital assets as personal property, which was also a response to the Legal Commission's consultation document recommending that digital assets be included in property law.

The above measures show that the UK's regulation in the field of cryptocurrency is gradually becoming clearer and more detailed, and also provides a clearer legal framework for the development of blockchain technology.

#英国财政部 #加密货币质押 #监管

🎤SEC Chairman speaks out before leaving office: Crypto market is full of bad actors

SEC Chairman Gary Gensler is about to leave office. In an interview with Bloomberg TV on January 8, he made eye-catching and negative remarks about the cryptocurrency market, which aroused dissatisfaction among many cryptocurrency users.

In the interview, Gensler reviewed the cryptocurrency regulation work during his tenure, saying that he had supervised 100 cryptocurrency-related enforcement actions since taking office, more than the 80 cases of former Chairman Jay Clayton, mainly targeting fraud, scams and non-compliance with securities laws.

Gensler pointed out that most digital currencies meet securities standards and should be regulated, but many crypto projects do not follow the rules and "play the edge" on the edge of the law, putting investors at risk. He also emphasized that the cryptocurrency market is "full of bad actors" and that in the past few years, intermediaries claiming to be exchanges, brokers or custodians have not complied with securities laws, putting the public at risk.

The former MIT professor expressed doubts about the viability of most cryptocurrencies in the market and believed that many projects would be difficult to sustain. He also pointed out that the cryptocurrency industry is more influenced by emotions than fundamentals, which is the main reason for its volatility.

However, Gensler's words and actions have been criticized by cryptocurrency supporters. Some people, such as Minnesota Congressman Tom Emmer, have previously described his tenure as "the most destructive and lawless in history." Ripple CEO Brad Garlinghouse even described it as a "reign of terror."

Gensler's move also affected the November campaign polls, making candidates who support cryptocurrencies more popular, helping Trump return to the presidency, and promoting the most cryptocurrency-supportive Congress in American history.

In response, he was calm, saying "If you don't want to be criticized, don't participate in policy discussions," and denied that he was anti-cryptocurrency. He mentioned his background in blockchain learning and teaching at MIT to show his interest in this field.

Gensler also made clear his position, saying that as the chairman of the SEC, he is committed to protecting investors and market integrity, focusing on ensuring compliance rather than targeting cryptocurrencies.

What do you think of Gensler's remarks?Is the cryptocurrency market really as bad as he says?

#加密货币 #GaryGensler #SEC

📊Bitcoin financing rate has dropped sharply, is market activity cooling down?

Bitcoin's financing rate has plummeted recently, which is a bit panicking! Once the price drops, those important on-chain indicators also slump, which is annoying to watch. If this situation continues, the price of Bitcoin is estimated to go down all the way.

We all know that the upward trend of financing rates indicates that the demand in the futures market is strong and the price is likely to rise. But now the financing rate has dropped sharply, which means that everyone is not so confident in Bitcoin. At the same time, those traders have become cautious, and the demand in the derivatives market has also weakened. If there is no such momentum to push up, the upward trend of Bitcoin will be suspended.

When Bitcoin rose before, the financing rate rose quite sharply, but now it has begun to retreat from the $108,000 position, and the financing rate has also fallen. This means that traders' enthusiasm for the market has waned, capital is not so actively flowing in, and the bullish momentum is weak. It will be difficult for Bitcoin to continue to go up.

Moreover, the current financing rate situation reflects the market's hesitation. The key is that the key point of $108,000 has not been broken. If Bitcoin is unable to hold $90,000, the situation is worrying. After investors' confidence is frustrated, the selling pressure will increase sharply, and the price will most likely continue to fall to test the lower Fibonacci level and psychological threshold. On the contrary, if the financing rate can rebound with the increase in purchasing power, Bitcoin is expected to stabilize and resume its upward trend, and the market's bullish sentiment is also expected to rekindle.

In addition to the financing rate, the unrealized profit rate of Bitcoin chain traders is also declining, which is not good. Julio Moreno, head of research at CryptoQuant, said that Bitcoin prices rose so sharply before, and it is normal to fall now. However, traders believe that the actual support price is $88,000, and the price at that time was $93,000. If it continues to adjust, the profit space in this round will become smaller and smaller.

What do you think of the recent sharp decline in the financing rate in the Bitcoin market? Do you think the Bitcoin market is about to change, or is it just a temporary fluctuation? Leave your opinions and views in the comment area!

#比特币 #市场分析 #融资利率 #链上指标 #心理支撑位

💰The U.S. Department of Justice has been approved to sell Silk Road's Bitcoin reserves, is a market sell-off coming?

Recently, there is a topic that has attracted a lot of attention in the cryptocurrency circle, that is, the fate of Silk Road's Bitcoin reserves. The U.S. Department of Justice was approved on January 8 to sell $6.5 billion worth of Bitcoin it confiscated in the Silk Road investigation. Many people began to worry that such a large amount of Bitcoin flowing into the market would cause market turmoil.

However, CryptoQuant's analysis brought us some comfort. They believe that if these Bitcoins are gradually sold through over-the-counter (OTC) counters, the impact on the market should be controllable. In other words, this method of sale is unlikely to have an adverse impact on the market.

In addition, the total market value of Bitcoin has increased by $381.7 billion in the past year, which is far more than the $6.5 billion that is about to be sold. So, although there may be some impact in the short term, the impact of these reserves does not seem to be that great in the context of the growth of the entire market.

Although the gradual sale of Bitcoin through over-the-counter (OTC) counters can help maintain market stability in the short term, if a large amount of Bitcoin is sold directly on the spot market, it may cause significant price fluctuations.

CryptoQuant also mentioned an important case: Looking back at July 2024, the German government sold 50,000 BTC, which undoubtedly brought a significant impact on the price of Bitcoin. Therefore, how the US Department of Justice handles the sale of this batch of Bitcoin will greatly affect whether the market will experience negative fluctuations in the short term.

However, there is also a view that even if the US Department of Justice chooses to sell a large number of Bitcoins through cryptocurrency exchanges, the current indicators on the chain still show that the market fundamentals are solid.

According to CryptoQuant CEO Ki Young Ju on January 7, the obvious demand for Bitcoin remains high. As long as capital continues to flow into the market, Bitcoin will maintain an upward trend, indicating that the actual market value of Bitcoin is currently at its highest level.

In summary, the sale of Silk Road Bitcoin reserves has indeed attracted widespread attention, but from a long-term perspective, the stability of the Bitcoin market is unlikely to be significantly impacted.What do you think?

#比特币 #丝绸之路 #市场分析

🚨Musk: If the DOGE Office plan succeeds, Bitcoin prices may be frustrated rather than boost financial markets

Elon Musk recently warned that the new Department of Government Efficiency (DOGE) he is involved in may slow down the price growth of Bitcoin. As an adviser to the new President Donald Trump, Musk leads the White House Counsel Office DOGE (an acronym for his love for Dogecoin and "Department of Government Efficiency"), with the goal of curbing inflation.

Faced with the US national debt dilemma, Musk said "We either solve this problem or we are actually bankrupt." He also affirmed some proposed plans, such as establishing a Department of Government Efficiency (DOGE) to improve government efficiency, reduce excessive spending, and slow the growth of the federal budget deficit to curb inflation.

We know that high deficits usually lead to inflation because increased government spending speeds up the circulation of money, thereby pushing up prices. In addition, the Federal Reserve will also lead to inflation of the dollar and rising prices by creating new dollars and lending them to banks to buy government debt.

In addition, in response to the optimistic bullish sentiment of X users, Musk said that if the dollar inflation is resolved, the price of buying cryptocurrencies with dollars will fall under other conditions being the same. The key now lies in the ratio of dollars to cryptocurrencies.

This effect is particularly significant in the cryptocurrency market and is clearly reflected in the prices of Bitcoin and other major token pools such as ETH, XRP, SOL and DOGE.

Although not all experts believe that Bitcoin can hedge against dollar inflation, the purchasing power of funds held in the form of BTC will increase significantly over any four-year period, while the inflated dollar will lose its purchasing power parity.

In summary, Musk believes that if the DOGE office plan is successfully implemented, it will have an adverse impact on the price of Bitcoin rather than promote the growth of the financial industry. The reason is that lower deficits and inflation rates will slow down the price increases in traditional financial markets (such as stocks) and cryptocurrency markets (such as Bitcoin).

At the same time, the price of Bitcoin has been falling back all the way to the current level of around $93,000 after falling below the $100,000 mark on Tuesday.

#埃隆马斯克 #比特币 #加密货币

⚖️Do Kwon case enters pre-trial stage, Terra ecosystem allegations attract attention

There is new progress in the case of Do Kwon, co-founder of Terraform Labs. The pre-trial meeting is scheduled for March 6, 2025, and the latest progress will be announced before February 27.

The US court plans to hold a jury trial on January 26, 2026. Although the judge encouraged him to plead guilty in exchange for a reduced sentence, it now seems likely that the case will go to trial.

Federal prosecutors accuse the Terraform ecosystem of being built on deceptive practices and claim that Do Kwon misrepresented the stability of the algorithmic stablecoin TerraUSD. And the indictment lists his multiple fraud and securities violations.

Do Kwon's defense team believes that Terraform's products were legal and functionally consistent with the description before market sentiment changed. The trial is expected to last four to six weeks, during which basic issues of cryptocurrency classification under US law will also be resolved.

In addition, prosecutors claim that LUNA, the native token of the Terra ecosystem, is a security, a view that, if adopted, could have a significant impact on the entire cryptocurrency industry. However, defense attorneys have a different view.

The case involves 6TB of massive evidence from many sources, including audio recorded without Do Kwon's knowledge, which may raise some procedural issues. Despite the large amount of review materials, the judge still emphasized the need to ensure transparency and fairness in the industry.

Do Kwon is currently being held in Essex County Jail in New Jersey. His legal team also has to deal with the investigation and potential prosecution in South Korea, which is quite complicated. He was previously arrested in Montenegro for using a fake passport and was detained for nearly two years.

The United States and South Korea have been fighting over the extradition of Do Kwon. But at the end of December last year, the Minister of Justice of Montenegro finally decided to extradite him to the United States. In a court appearance on January 2 this year, Do Kwon pleaded not guilty to the charges of the collapse of the Terra ecosystem.

In short, this case not only concerns Do Kwon's personal fate, but will also have a profound impact on the legal status of cryptocurrency and the development of the industry, which deserves our continued attention.

What do you think of the latest developments in the Do Kwon case? Do you think this trial will affect the development of the cryptocurrency industry?

#DoKwon #加密货币 #TerraUSD #LUNA

💰The total net outflow of US BTC spot ETF yesterday was 583 million US dollars, and the total net outflow of Ethereum ETF in a single day was 159 million US dollars

According to the latest data from SoSoValue, the total net outflow of Bitcoin spot ETF in a single day yesterday reached 583 million US dollars, ranking second in the history of total net outflow in a single day.

In terms of capital outflow, Fidelity's Bitcoin spot ETF FBTC, Ark&21shares' ETF ARKB, BlackRock's ETF IBIT, Valkyrie's ETF BRRR and Bitwise's ETF BITB ranked in the top five, with a single-day net outflow of nearly 259 million US dollars, 148 million US dollars, 124 million US dollars, 14.1 million US dollars and 11.26 million US dollars respectively. And among the 12 Bitcoin ETFs, there was no net inflow of funds on that day.

At present, the total net asset value of Bitcoin spot ETF is 106.82 billion US dollars, accounting for 5.74% of the total market value of Bitcoin, and the cumulative total net inflow is 36.37 billion US dollars.

On the same day, the total net outflow of Ethereum spot ETF was 159 million US dollars, which also ranked second in the history of total net outflow in a single day.

In terms of capital outflow, Fidelity's Ethereum spot ETF FETH, Grayscale's Ethereum Trust ETF ETHE and its mini trust ETF ETH had a single-day net outflow of nearly 1.48 US dollars, 8.26 million US dollars and 3.4 million US dollars respectively. And among the 9 Ethereum ETFs, there was no net inflow of funds on that day.

At present, the total net asset value of Ethereum spot ETF is 11.74 billion US dollars, accounting for 2.97% of the total market value of Ethereum, and the total net inflow in history is 2.52 billion US dollars.

The above phenomenon reflects that the market's investment sentiment for cryptocurrencies has cooled down, and investors may be cautious about the current market environment. Investors need to pay close attention to market dynamics and rationally analyze the potential changes in the market conditions of various assets.

#比特币ETF  #以太坊ETF #资金流入

🤔 On-chain indicators show signs of accumulation by long-term holders, but analysts have differing views on market trends

Recently, Bitcoin prices have shown a moderate upward trend, and the group of long-term holders has gradually increased their holdings. On-chain analysis expert Axel Adler Jr. pointed out that despite continuous market volatility, the supply of Bitcoin by long-term holders is indeed on the rise. This phenomenon may indicate that Bitcoin prices are about to experience a new round of significant increases, reminiscent of historical bullish markets.

Currently, over 90% of the total Bitcoin supply is in profit, and market sentiment is generally positive. In the absence of obvious adverse factors, the market is expected to welcome a bullish trend similar to that of 2017.

Although Bitcoin prices have recently retraced, raising doubts about the bullish outlook, there is no need to worry excessively. Many investors remain optimistic, and Bitcoin's trading volume has even increased by nearly 31% in the past 24 hours, indicating that market activity is still strong.

However, according to cryptocurrency analyst Ali Martinez, this recent drop in Bitcoin prices might lead to a bearish head and shoulders pattern. He pointed out that Bitcoin has broken below the previously established support line between $95,400 and $98,400, where approximately 1.8 million addresses purchased over 1.5 million Bitcoins.

Therefore, he believes that $92,000 is a very important support level moving forward, and if it breaks below this price, Bitcoin could further decline to $74,000, as there has been rapid price increases since the U.S. elections, with relatively few support levels before the $74,000 mark.

💬 What are everyone's views on the upcoming trends for Bitcoin? If it were you, would you choose to increase, decrease, or hold your position at this stage?

#比特币 #加密货币 #投资趋势 #市场分析 #长期持有者