Mini Program: Daily Summary of Digital Currency Trends
1. Economic Daily: Bitcoin prices rise, risks increase
The article states that recently, Bitcoin prices have continued to rise, once exceeding $99,000 each, setting a new historical record. Yu Jianing, co-chairman of the Blockchain Committee of the China Communications Industry Association and honorary chairman of the Hong Kong Blockchain Association, stated that in the short term, Bitcoin may seek new support or resistance levels amid volatility, while in the medium to long term, its price direction will depend on multiple factors such as global liquidity, economic prospects, and regulatory attitudes. Yu Jianing analyzed that due to the decentralized nature of cryptocurrency funds, the market is easily manipulated by large capital, leading to 'dumping' or 'pumping' behaviors, which may trigger irrational actions by retail investors. The article mentions that the regulatory authorities in our country have consistently maintained a clear stance, deeming cryptocurrency-related business activities as illegal financial activities, maintaining a strict regulatory stance on cryptocurrencies from multiple dimensions, including cracking down on Bitcoin mining and cutting off the funding chain for cryptocurrency speculation. 'Overall, as the enthusiasm for Bitcoin and the cryptocurrency market increases, new risks and uncertainties also rise. Investors should respond to the current market with a rational and prudent attitude, closely monitor regulatory dynamics and market changes, and avoid blindly following trends,' warned Zhao Wei, a senior researcher at the OKX Research Institute.
2. Michael Saylor claims he can persuade Buffett to buy Bitcoin through Berkshire Hathaway
Michael Saylor stated that Berkshire Hathaway's cash reserves of $325 billion lose $32 billion each year and claimed he could persuade Warren Buffett to accept Bitcoin.
3. Bitcoin halving return trends: Significant price increases in December 2012, 2016, and 2020; performance in September 2024 reached a historical high
Data shows that Bitcoin experienced significant price increases in December after halving in 2012, 2016, and 2020. In December 2012, the price rose from $12.57 to $13.45, yielding a return of 7%; December 2016 yielded a return of 30.8%; December 2020 yielded a return of 46.92%; the returns for this month remain promising. It is worth noting that Bitcoin recorded a 7.35% increase in September this year, achieving its best historical performance. Historically, every time Bitcoin has closed positively in September, it has risen until the end of the year.
4. (Wall Street Journal): If Trump returns to the White House, the U.S. SEC may relax legal actions against cryptocurrency exchanges
Bitcoin.com News stated on platform X that a Wall Street Journal article pointed out that if Donald Trump returns to the White House, the U.S. Securities and Exchange Commission may relax legal actions against cryptocurrency exchanges.
5. The relative unrealized profit margin of long-term BTC holders is 0.74, lower than previous peaks
According to data from glassnode co-founder Rafael, the relative unrealized profit margin of long-term Bitcoin holders is currently 0.74, significantly lower than the overheating levels observed in previous cycles. This indicates that there is still room for market growth, and market participants are closely monitoring whether this indicator will break through 0.9 and higher levels.
6. In November, new registrations for Ethereum Domain Service (ENS) domain names were less than 10,000, marking a new low for monthly registrations this year
Dune data shows that in November, new registrations for Ethereum Domain Service (ENS) domain names were less than 10,000, totaling only 8,664, marking a new low for monthly registrations this year. Additionally, the current total number of active domain names is 1,811,983, with 875,047 unique ENS participants and a names set totaling 899,849.
7. In November, Bitcoin on-chain NFT sales exceeded $185 million, reaching a new high since June of this year
According to CryptoSlam data, in November, Bitcoin on-chain NFT sales exceeded $185 million, reaching $185,311,772.98, setting the highest record since June this year. Additionally, last month, the trading volume of Bitcoin on-chain NFTs reached 219,727 transactions, with approximately 68,189 unique buyer addresses and about 44,634 unique seller addresses.
8. Industry insiders: BTC has become a mainstream investment tool, but if the new leadership of the SEC adopts a conservative stance, it may lead to a decline in market confidence
Rafael, the executive director of the Hong Kong International New Economy Research Institute, pointed out that Bitcoin, as an important component of the digital economy, has gradually transformed from a speculative asset to a mainstream investment tool. Although long-term trends are positive, short-term market sentiment and speculative capital flows may lead to price corrections, and investors should be wary of the market risks brought by overly optimistic sentiment. The Trump administration's friendly policies towards the cryptocurrency industry will continue to provide strong support for Bitcoin. However, it is important to be vigilant about potential uncertainties in the specific implementation of policies. For instance, if the new leadership of the SEC adopts a conservative stance towards Bitcoin, it may lead to a decline in market confidence.
9. XRP's market value surpasses USDT and Solana, ranking third in cryptocurrency market capitalization
XRP's market capitalization has exceeded $130 billion, reaching a new high of $137 billion, ranked third in cryptocurrency market capitalization. USDT's current market capitalization is $134.2 billion, ranking fourth, while Solana's current market capitalization is $111.9 billion, ranking fifth. XRP is currently priced at $2.41, with a 24-hour increase of 28.5%.
10. Basel Data: The customer cryptocurrency exposure of U.S. banking institutions in 2023 is approximately $201 billion
The Basel Committee on Banking Supervision released the December 2023 Basel III monitoring statistics, which include cryptocurrency asset exposure. Although the data was released later (before the launch of the Bitcoin ETF in the U.S.), it already shows a significant increase in the scale of U.S. banking institutions providing cryptocurrency services to clients, with the customer cryptocurrency exposure of U.S. banking institutions in 2023 approximately $201 billion.
11. In November, the U.S. spot Bitcoin ETF purchased approximately 71,570 BTC, while mining output during the same period was only about 13,500 BTC
According to data disclosed by Cointelegraph on platform X, in November, the U.S. spot Bitcoin ETF purchased approximately 71,570 BTC, while mining output during the same period was only about 13,500 BTC.
12. South Korea delays the implementation of cryptocurrency capital gains tax to 2027, ruling party suggests extending it to 2028
At a press conference on December 1, Park Chan-dae, the floor leader of South Korea's largest opposition party, the Democratic Party of Korea, announced the abandonment of plans to implement a cryptocurrency capital gains tax in 2025, agreeing to delay it for another two years until 2027. The proposal to 'postpone cryptocurrency capital gains tax' was put forward by the South Korean government and the ruling People Power Party. The Democratic Party of Korea previously stated that delaying the taxation is a political maneuver by the ruling party. Originally, South Korea planned to impose a 20% tax on cryptocurrency gains (22% for local taxes), scheduled to take effect on January 1, 2022. Due to strong opposition from investors and the industry, the plan has been postponed twice to January 1, 2025. Following today's press conference, the tax collection has been postponed again to 2027. The ruling People Power Party also proposed that 'a 2-year grace period for the cryptocurrency capital gains tax is still insufficient and should be extended to 2028; rapid taxation on cryptocurrencies is undesirable as investors may leave the market. The People Power Party hopes to delay implementation until 2028 to fulfill its commitments made during the election.'
Article reposted from: Jinshi Data
