Content source: Weibo (Kuang Ren Daobi Dao)
Madman said
The Wall Street Journal stated that Binance's financial situation remains a mystery, which is due to the fact that the audit report given by Mzars did not answer the question about the full collateralization of funds, and there was no information about the total assets and total liabilities of the exchange. Regardless of whether this news has an impact on Binance, at least in the short term, Binance will not experience a run, but we can see that Wall Street has extended its black hand to the last clean land of cryptocurrency. After Binance has a monopoly position in the crypto exchange, it will also become the target of public criticism. For those interest groups, they only need to bring down Binance, and traditional funds can begin to control the fat meat of cryptocurrency through financial institutions. Therefore, Binance's future should be subject to a series of tests. This is also the biggest test faced by Binance after the bankruptcy of FTX. As long as it can do its best and avoid being found with loopholes, there will be no systemic risks.
Members of the U.S. Congress called on the SEC Chairman to speak in front of Congress to explain the FTX regulatory failure. The chairman has been targeted by more and more politicians in the U.S. political circles recently. His future will not be easy. He may be implicated by the bankruptcy of FTX. After all, the instant collapse of FTX must be directly related to poor regulation, and it has also become a favorable tool for politicians to fight against each other.
American pension insurance provider ForUSAll will continue to provide cryptocurrency investment exposure, which means that the collapse of the crypto industry has not affected pension funds' continued purchase of cryptocurrencies. At least the American company still maintains its previous attitude. At the same time, the demand and interest in 401K has not decreased, which shows that American investors still have sufficient confidence in the long-term future of cryptocurrencies.
Dragonfly Capital partner said that Genesis liquidation may force DCG into bankruptcy, because Genesis may be required to redeem the 10-year notes worth $1.1 billion in DCG. This is the most likely case that FTX bankruptcy can trigger a series of bankruptcies, but even so, DCG bankruptcy is unlikely to affect the liquidation of GBTC. After all, Grayscale itself operates legally and in compliance with regulations, and its financial situation is also completely good. Therefore, apart from the bad luck of creditors, the impact on the price of the currency will not be too great.
Since November, the ARK Fund has purchased a total of 1.3 million shares of Coinbase and 1.09 million shares of GBTC, which can be regarded as a continuous increase in crypto-related investments. It is also one of the few funds that are firmly optimistic about the future of crypto, and it is also in line with Wood's investment pace in the technology industry.
USDC’s on-chain transaction volume accounts for 41.5%, which is higher than USDT and BUSD. This means that USDC, which represents institutional funds, has begun to wake up. This may be a signal that institutions continue to build positions at the bottom. In the medium and long term, it is an absolute opportunity area.
The number of active USDT addresses hit an 18-month high, which means that short-term funds are beginning to become active, which is a signal before a change in the market.
Panic 27, not much changed.
Bitcoin: Still fluctuating around 17,000. This week, the CPI and interest rate hike data will be announced. If the two data are compared this week, the former should have a greater impact on the currency price. In other words, everyone should keep a close eye on the data at 21:00 on Tuesday night. As long as it is better than expected, Bitcoin will start a sustained upward trend, otherwise it may fall sharply.
ETH: Linked, waiting for the data to fluctuate together.
LTC: Addresses holding more than 1 million LTC have increased their holdings by 2.95 million LTC in the past five weeks, which means that there are still whales using real money to push up prices. The expectation of halving speculation still exists, and there is still an opportunity for a trend market in the first half of next year.
Let's wait for the data. The volatility will increase after the U.S. stock market opens in the evening because the data release will be anticipated in advance. It is expected that there will be a large fluctuation of 800-1000 points from tonight to tomorrow night.
