● BTC briefly approached the $99,000 mark, setting a new record
Binance market data showed that BTC rose briefly above 98,500 USDT, reaching 98,988 USDT, setting a new historical high.
According to Odaily Planet Daily, CryptoQuant CEO Ki Young Ju said that the Bitcoin bull market is starting and the current data is similar to that in 2020. On-chain data shows that whales have continued to accumulate Bitcoin in the past few months.
Ki Young Ju analyzed that after the halving, the mining cost doubled, and the price needs to rise to maintain the profitability of miners. In addition, many traders are shorting Bitcoin, which may promote the bull market through short squeeze. According to the performance of the previous halving cycle, the Bitcoin bull market usually starts in the fourth quarter.
● Marathon Digital raises $1 billion to buy Bitcoin
According to TechFlow, on November 21, Watcher.Guru posted on the X platform that Bitcoin mining company Marathon Digital raised $1 billion to buy more Bitcoin.
According to Odaily Planet Daily, Edaily pointed out that South Korea's two major game companies, Nexon and Wemade, have confirmed that they currently have no plans to profit from their Bitcoin holdings.
Nexon has only 1,717 bitcoins, and the average purchase price is $58,226 per coin. The company emphasizes that Bitcoin is considered an asset equivalent to cash and has no intention of short-term trading based on market fluctuations. Wemade holds 223 bitcoins, but did not disclose its average purchase price. A representative of the company clarified that the purchase of Bitcoin is purely for investment purposes and there are no plans to liquidate it at present.
Both companies said they intend to hold Bitcoin as a long-term investment.
● US SEC Chairman Gensler will resign on January 20
According to BlockBeats, on November 22, official news came out that SEC Chairman Gensler will step down on January 20.
It’s worth noting that Trump has promised to fire Gensler if he wins the election, and Trump’s presidency begins on January 20.
● Citron announces short position in MicroStrategy
According to Odaily Planet Daily, AggrNews monitoring showed that after the well-known short-selling institution Citron announced its short-selling of MicroStrategy, MicroStrategy fell 22% in a short period of time.
● Multiple cryptocurrency spot ETF applications are underway, DOGE ETF may be submitted on December 31
According to Odaily Planet Daily, Nate Geraci, president of The ETF Store, said in a post on X that in addition to the listing of Grayscale and Bitwise's crypto index funds, there are currently spot ETF applications for SOL, XRP, and HBAR. He speculated that at least one issuer has also tried Cardano or AVAX ETFs.
In this regard, Bloomberg ETF analyst Eric Balchunas said that December 31 seems to be the best date to submit a DOGE ETF application.
Richard Teng, CEO of Binance, said in the Binance Square (Celebrating the First Anniversary of Binance CEO) AMA that in terms of company achievements, Binance has achieved amazing growth this year. As of now, the number of global users has reached nearly 242 million, and the number of new users in the past year has reached 62 million. In terms of user assets in particular, Binance has attracted more than $9 billion in net inflows in the past month, which is 9 times that of its competitors, and the total user assets are close to $150 billion, a significant increase from the beginning of the year.
In addition, Richard Teng said that Binance's regulatory compliance has been continuously improved around the world, and it has now obtained regulatory approval in 20 countries or regions. Recently, the company has obtained new regulatory licenses in countries such as Argentina and India, further enhancing its legitimacy and trust in the global market.
● Data: Binance’s total trading volume ranks first in the market
According to data, in the past 30 trading days (October 7 to November 15, 2024), Binance's total trading volume (spot + derivatives) significantly surpassed the data of major global stock markets:
- Binance’s trading volume is 10% higher than Nasdaq’s;
- Binance’s trading volume is 2x that of the New York Stock Exchange (NYSE);
- Binance’s Bitcoin trading volume is 4.5 times the total trading volume of all Bitcoin ETFs;
- Binance accounts for approximately 50% of the global centralized exchange (CEX) trading volume;
- During the US election week, the total amount of USDT inflows to major exchanges exceeded $20 billion, with Binance leading with $7.7 billion in inflows.
