Asset management giant VanEck's latest report reaffirms the continued maintenance of Bitcoin's price target for this cycle at $180,000.
Author: Shenchao TechFlow
Yesterday's market dynamics
Data: Last week, cryptocurrency exchanges saw an outflow of 35,000 Bitcoins, with balances reaching a historic low
On November 25, according to Coinglass, over the past week, various cryptocurrency exchanges have seen a total outflow of 35,538 Bitcoins, with Binance seeing an outflow of 20,398, Coinbase 2,273, and ProBitfinex 6,503.
Currently, the cumulative balance of Bitcoin on cryptocurrency exchanges is 2,299,200, a historic low.
Hong Kong's Zhong An Bank today launched virtual currency trading services on its App
According to Ming Pao, digital bank Zhong An Bank (ZA Bank) announced that it has become the first bank in Asia to provide cryptocurrency trading services for retail users, now offering the ability to buy and sell Bitcoin and Ethereum in HKD and USD on the App.
After Hong Kong residents open an investment account with Zhong An Bank, they need to complete processes such as risk assessment to buy and sell two types of currencies in the application, with entry fees of 70 USD or 600 HKD, and a transaction commission of 1.99 USD or 15 HKD, with a platform fee of 1.5% of the transaction amount (with a minimum fee of 1.99 USD or 15 HKD per transaction). The bank will waive commissions and reduce the platform fee to 0.8% of the transaction amount until the end of June next year.
Crypto KOL Murad: High-quality Meme project communities should have six characteristics including multiple resilience against downturns and diamond hands
Crypto KOL Murad expressed his views on social platform X, emphasizing that investing in Meme projects is essentially investing in ‘people’. He pointed out that high-quality Meme project communities should possess the following characteristics:
Community members remain actively engaged daily;
Operating for more than 6 months;
Have undergone multiple significant downturns;
The number of holders shows monthly growth;
Target market value exceeds $20 billion;
Possesses good token distribution and diamond hands holders.
VanEck: Reiterates maintaining the Bitcoin price target of $180,000
Asset management giant VanEck's latest report reaffirms the continued maintenance of Bitcoin's price target for this cycle at $180,000, stating that from key indicators, this rally seems to have just begun. It is reported that VanEck analyzed three key indicators: funding rates, relative unrealized profits (RUP), and retail interest trends, pointing out that:
1. Since November 12, the perpetual futures funding rate has remained above 10%, indicating a strengthening bullish momentum;
2. Additionally, the current 30-day moving average relative unrealized profit level is about 0.54, usually indicating that the market will peak over a longer time cycle;
3. The search term popularity is only 34% of its peak in May 2021, indicating that speculative frenzy has not yet spread, and the re-engagement of retail investors will allow Bitcoin to have further upside potential.
ZKasino officially misappropriated 'funds prepared to be returned to users' to start leveraging long ETH on-chain
According to on-chain data analyst Yu Jin's monitoring, the ZKasino address started misappropriating 'funds prepared to be returned to users' to leverage long ETH on-chain 7 hours ago, depositing 5,270 ETH into Aave as collateral to borrow 11.589 million DAI, and then increased their position by 3,500 ETH.
Data: Tokens such as IMX, ADA, APEX will face significant unlocks next week, with IMX unlock valued at approximately 40.5 million USD
Token Unlocks data shows that tokens such as IMX, ADA, APEX will face significant unlocks next week, including:
Immutable (IMX) will unlock approximately 24.52 million tokens at 8 AM Beijing time on November 29, accounting for 1.47% of the current circulation, valued at approximately 40.5 million USD;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on November 26, accounting for 0.05% of the current circulation, valued at approximately 18.9 million USD;
ApeX (APEX) will unlock approximately 9.24 million tokens at 8 AM Beijing time on November 27, accounting for 19.09% of the current circulation, valued at approximately 17.8 million USD;
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10 PM Beijing time on November 27, accounting for 3.65% of the current circulation, valued at approximately 8.6 million USD.
Arthur Hayes: Bitcoin could reach $250,000 by the end of 2025, while Dogecoin could reach $1
Arthur Hayes predicts in a recent podcast that Bitcoin will reach $100,000 by the end of this year and could reach $250,000 by the end of 2025, while Dogecoin may reach $1. He also advises those experiencing a bull market for the first time to stay rational and cash out at appropriate times, warning that clinging to the mindset of 'I can earn more' may ultimately lead to losing the wealth already possessed.
Kraken plans to add support for 19 tokens including BNB, DYDX, AR, COW, DOGS, etc.
The roadmap for listing new tokens on the cryptocurrency exchange Kraken shows plans to add 19 emerging popular tokens, including BNB, DYDX, AR, COW, DOGS, FWOG, GOAT, PNUT, NOT, Neiro, etc. Currently, Kraken has listed over 300 tokens.
ai16z announces complete separation from AI Combinator, focusing on AI trader development and token business
ai16z announced on social platform X that its DAO partners have decided to completely separate from AI Combinator to focus all efforts on the development of $ai16z and $degenai tokens and AI trader products, while wishing Ryze Labs success in the field of AI agents. ai16z emphasized that its technology will remain open-source, available for free use by anyone, and promised that this policy will be maintained permanently.
Fundstrat's strategy director: The Korean 'kimchi premium' is currently about 0%, indicating that Bitcoin still has room for growth
Fundstrat's digital asset strategy director Sean Farrell noted in a recent client report that although Bitcoin's price is approaching $99,000, the current market does not exhibit bubble characteristics similar to those seen at the end of 2021 or March of this year.
According to its analysis, the 'kimchi premium' indicator in the Korean market is currently about 0%, indicating that Korean traders are not exhibiting excessive excitement. Typically, this indicator soars above 10% when the market peaks. Farrell believes that the recent upswing is not purely speculative, and the inquiries from friends and family about cryptocurrency investments indicate that there is still room for Bitcoin market growth.
Market dynamics
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