Daily Quotes (January 9, 2025 20:00)
ChainDD's market data on January 9 shows that the combined DD index and CoinMarketCap quotes are:
BTC was at $93,407.38, down about 1.81% in 24 hours;
ETH was at $3,296.47, down about 1.60% in 24 hours;
BNB was at $699.85, up about 0.56% in 24 hours;
DOGE was at $0.33, down about 4.80% in 24 hours;
DOT was trading at $6.67, down about 2.76% in 24 hours.
Chain Circle Dynamics
BOC Hong Kong: Will improve tokenized deposit products through distributed ledger technology regulatory incubator
The Hong Kong Monetary Authority has launched a Distributed Ledger Technology Regulatory Incubator to help banks responsibly explore the potential of distributed ledger technology (DLT). Chen Guang, deputy general manager of the Digital Currency Task Force of Bank of China (Hong Kong), said that he hopes to communicate closely with regulators through the incubator to further improve blockchain infrastructure and tokenized deposit products to support the development of tokenized asset transactions in Hong Kong.
Cryptocurrency News
Source: Trump will issue at least one encryption executive order on his first day in office
Crypto industry bigwigs backed Trump’s 2024 presidential bid and now have high hopes for crypto-friendly policies.
The cryptocurrency industry has been lobbying Trump to issue an executive order within his first 100 days to establish a U.S. Bitcoin reserve, ensure the industry has access to banking services and create a cryptocurrency advisory committee, Reuters reported, citing unnamed sources. The industry expects at least one order to come out on Jan. 20, the report said.
Bitcoin could rise to a new all-time high of more than $125,000 in the first quarter of this year, or it could fall to $77,000 — depending on whether Trump follows through on his promises to the cryptocurrency industry soon after taking office, one analyst said. Those promises include making the U.S. the “crypto capital of the internet” and the “bitcoin superpower of the world.”
IMF recommends Kenya to develop clear cryptocurrency regulatory framework
The IMF (International Monetary Fund) recommends that Kenya create a clear and predictable regulatory environment for the cryptocurrency market to protect consumers and address risks related to anti-money laundering (AML) and countering the financing of terrorism (CFT). The IMF pointed out that Kenya currently relies on outdated regulations in traditional markets and lacks legally binding regulation of the crypto market, leading to an increase in crypto-related fraud and criminal activities. The IMF recommends that Kenya develop a crypto regulatory environment that is consistent with international frameworks and standards, while taking into account the unique challenges and opportunities of the local market, to ensure that the regulatory framework can protect consumers, maintain financial stability, and promote innovation.
Fidelity Spot Bitcoin and Ethereum ETFs both recorded their largest daily net outflows
1The Block cited SoSoValue data to say that Fidelity's spot Bitcoin and Ethereum ETFs recorded the largest single-day net outflows on Wednesday. The total net outflow of spot Bitcoin ETFs reached $582 million, of which Fidelity's FBTC recorded a net outflow of $259 million. At the same time, the Ethereum spot ETF had a total net outflow of $159 million, of which Fidelity's FETH accounted for $148 million. Other funds such as BlackRock's IBIT, Ark, and 21Shares' ARKB also recorded net outflows of more than $124 million and $148 million, respectively. Despite the historic outflows, Fidelity's ETF still maintains the second largest cumulative net inflow among spot Bitcoin and Ethereum funds.
Zhou Xiaochuan: We need to be vigilant about the impact of digital encrypted assets on global financial stability and financial security
At the "Boao Forum for Asia New Year Outlook 2025" event, Zhou Xiaochuan, former governor of the People's Bank of China, said that the world will face profound changes and challenges in 2025: the international environment will continue to be full of uncertainty, competition among major powers will intensify, and economic globalization will be frustrated; the recovery of the world economy is unpredictable, and the industrial chain will be forced to reshape due to "decoupling and disconnection" in trade and technology; the rapid development of general artificial intelligence will bring opportunities and risks; the climate change crisis will intensify, and sustainable development will face huge tests.
At the same time, he emphasized that there are several things that will remain unchanged in 2025: the trend of accelerated growth of the global South will not change, the direction of Asian countries to promote inclusive economic globalization will not change, and China's determination to reform and open up will not change. Zhou Xiaochuan pointed out in his speech that the global public debt is about to exceed 100 trillion US dollars, which will increase the external financing costs and exchange rate depreciation pressure of emerging markets and developing countries, and the debt will bring challenges to the fiscal sustainability of developed countries. The impact of digital encrypted assets on global financial stability and financial security needs to be vigilant.
