Author: TechFlow
Yesterday's market dynamics
Data: 35,000 Bitcoins flowed out of crypto exchanges last week, and the balance hit a record low
On November 25, according to Coinglass, a total of 35,538 bitcoins flowed out of major cryptocurrency exchanges in the past week, of which 20,398 bitcoins flowed out of Binance, 2,273 bitcoins flowed out of Coinbase, and 6,503 bitcoins flowed out of ProBitfinex.
Currently, the cumulative balance of Bitcoin on crypto exchanges is 2.2992 million, a record low.
Hong Kong ZhongAn Bank launched a virtual currency trading service on its app today
Digital bank ZA Bank announced that it has become the first bank in Asia to provide cryptocurrency trading services to retail users. Starting today, it will provide two virtual currencies, Bitcoin and Ethereum, for trading in Hong Kong dollars and US dollars on its App.
After Hong Kong residents open an investment account at ZhongAn Bank, they need to complete risk assessment and other processes before they can buy and sell two currencies on the app. The entry fee is US$70 or HK$600, the commission for each transaction is US$1.99 or HK$15, and the platform fee is 1.5% of the transaction amount (the minimum fee for each transaction is US$1.99 or HK$15). The bank will waive the commission and reduce the platform fee to 0.8% of the transaction amount by the end of June next year.
Crypto KOL Murad: High-quality Meme project communities should have 6 characteristics such as multiple resistance to falls and diamond hands
Crypto KOL Murad expressed his views on the social platform X, emphasizing that investing in Meme projects is actually investing in "people". He pointed out that a high-quality Meme project community should have the following characteristics:
Community members remain active on a daily basis;
Operational period of more than 6 months;
It has experienced many sharp declines;
The number of holders continues to grow monthly;
The target market value is more than $20 billion;
With good token distribution and diamond lot holders.
VanEck: Reiterates Bitcoin's $180,000 target price remains unchanged
The latest report from asset management giant VanEck reiterates that it will continue to maintain the target price of Bitcoin at $180,000 in this cycle, and says that judging from key indicators, this round of rebound seems to have just begun. It is reported that VanEck analyzed three key indicators: funding rate, relative unrealized profit (RUP) and retail interest trend, and pointed out:
1. Perpetual futures funding rates have been above 10% since November 12, indicating a strengthening bullish momentum;
2. In addition, the current 30-day moving average relative unrealized profit level is about 0.54, which usually indicates that the market will reach a peak in a longer period of time;
3. The search term popularity is only 34% of the high point in May 2021, indicating that the speculative frenzy has not yet spread, and the re-participation of retail investors will give Bitcoin room for further growth.
ZKasino officials embezzled "funds to be returned to users" and started to go long on ETH on the chain
According to monitoring by on-chain data analyst Ember, the ZKasino address began to embezzle "funds prepared to be returned to users" to leverage long ETH on the chain 7 hours ago. They deposited 5,270 ETH into Aave as collateral to borrow 11.589 million DAI, and then added 3,500 ETH.
Data: IMX, ADA, APEX and other tokens will unlock large amounts next week, of which IMX unlocks about $40.5 million
Token Unlocks data shows that IMX, ADA, APEX and other tokens will have large amounts unlocked next week, including:
Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 a.m. Beijing time on November 29, accounting for 1.47% of the current circulation and worth approximately US$40.5 million;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 am Beijing time on November 26, accounting for 0.05% of the current circulation, with a value of approximately US$18.9 million;
ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 am Beijing time on November 27, accounting for 19.09% of the current circulation and worth approximately US$17.8 million;
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 pm Beijing time on November 27, accounting for 3.65% of the current circulation and worth approximately US$8.6 million.
Arthur Hayes: Bitcoin could reach $250,000 by the end of 2025, and Dogecoin could reach $1
Arthur Hayes predicted in his latest podcast that Bitcoin will reach $100,000 by the end of this year, and may reach $250,000 by the end of 2025, and Dogecoin may reach $1. In addition, he suggested that people who are experiencing the bull market for the first time should remain rational and cash out in time. If they always hold the emotion of "you can make more", they may eventually lose the wealth they already have.
Kraken plans to add support for 19 new tokens including BNB, DYDX, AR, COW, DOGS, etc.
The cryptocurrency exchange Kraken's listing roadmap shows plans to add 19 emerging popular tokens, including BNB, DYDX, AR, COW, DOGS, FWOG, GOAT, PNUT, NOT, Neiro, etc. Currently, Kraken has listed more than 300 tokens.
ai16z announces complete separation from AI Combinator to focus on AI trader development and token business
ai16z announced on the social platform X that its DAO partners have decided to completely separate from AI Combinator in order to focus all their 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 and anyone can use it for free, and promised that this policy will be maintained forever.
Fundstrat Strategy Director: South Korea's "Kimchi Premium" is currently about 0%, and Bitcoin still has room to rise
Sean Farrell, head of digital asset strategy at Fundstrat, noted in his latest client report that although the price of Bitcoin is close to $99,000, the current market does not show bubble characteristics similar to those in late 2021 or March of this year.
According to his analysis, the "Kimchi Premium" indicator in the Korean market is currently around 0%, indicating that Korean traders are not overly excited. Usually when the market reaches its peak, this indicator will soar to more than 10%. Farrell believes that the recent rise is not a simple speculative boom, and the fact that friends and relatives have begun to ask about cryptocurrency investments is a sign that the Bitcoin market still has room to rise.
Market dynamics
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