BTC breaks through $99,000 Quantum computing may crack lost Bitcoins
Reprinted from jinse
12/26/2024·4Mheadlines
▌ BTC breaks through $99,000
The market situation shows that BTC exceeded 99,000 US dollars and is now trading at 99,004 US dollars, with a 24-hour increase of 0.43%. The market fluctuates greatly, so please control risks.
▌Opinion : Quantum computing may crack lost Bitcoins and challenge the scarcity narrative
Advances in quantum computing technology may redefine the traditional notion that Bitcoin’s “lost coins” cannot be recovered. The article points out that some early-generation and long-abandoned wallets (such as Satoshi Nakamoto's wallet) may be at risk due to quantum computing breaking through old encryption technologies because their owners are unable to migrate their keys to more secure encryption algorithms. This may put some Bitcoins thought to be permanently lost back into circulation, changing the scarcity narrative. Although Bitcoin developers are able to protect active wallets through protocol upgrades and the network is adaptable enough to meet the challenges of the quantum era, old wallets may be more likely to become targets of future attacks, posing a new test for Bitcoin network security.
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$99,827.48, with an intraday increase or decrease of +1.3% ;
ETH’s recent transaction price was US$3,510.85, with an intraday increase or decrease of +0.7% ;
BNB’s recent transaction price was US$704.62, with an intraday increase or decrease of +0.1 % ;
SOL’s recent transaction price was US$198.70, with an intraday increase or decrease of +1.0 % ;
DOGE’s recent transaction price was 0.3375 yuan, with an intraday increase or decrease of +0.4% ;
XPR’s recent transaction price was $2.31, with an intraday increase or decrease of -0.1% .
policy
▌Opinion : Trump’s Bitcoin reserve plan may become a watershed moment for the cryptocurrency market
Trump publicly supports the Bitcoin reserve plan and promotes the US government to hoard Bitcoin as a strategic asset. The plan has received support from politicians including Porter and Loomis and has attracted bipartisan attention. Trump’s support gave the once-marginal concept a political momentum and became a watershed moment for the cryptocurrency market. Democratic congressmen from California and Republican senators from Wyoming have proposed including Bitcoin as a U.S. reserve asset, relying in part on U.S. gold reserves. However, critics believe this could strengthen U.S. financial dominance and pose a challenge to Bitcoin’s decentralized philosophy. Still, supporters believe the move could help combat the debt crisis and drive global financial innovation.
▌ Hashgraph Group obtained a fund management license in Abu Dhabi and will launch a US$100 million Web3 fund
Switzerland-based Hashgraph Group has obtained a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. Hashgraph Ventures Manager, a unit of Hashgraph Group, has obtained a license allowing it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).
Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. The fund will prioritize strategic investments in companies in the Web3 and deep technology fields (developing artificial intelligence (AI), blockchain, robotics and quantum computing solutions). Qualifying projects will have the opportunity to participate in the Hashgraph Association’s Entrepreneurship Studio program.
Blockchain application
▌Agridex completed the first coffee transaction on the Solana chain, which may promote the tokenization of agricultural assets
The Agridex platform on the Solana chain completed the first coffee transaction. The British brand Tiki Tonga exported coffee to South Africa. The payment was settled in South African rand and into pounds. The transaction fee was only 0.5%, which is lower than the traditional 5% to 7%. Cross-border fees. Agridex also supports instant settlement of a variety of agricultural products, including livestock, wine and olive oil.
cryptocurrency
▌ Pump Science: Token Economics Design Completed
Pump Science issued a document on the coins (RIF, URO), and new tokens can be obtained in the future; this will continue (forever) as long as new products are launched.
In addition, Pump Science stated that BIO Protocol will airdrop BIO to holders of URO and RIF, pending governance approval to connect BIO to Solana, and more airdrops are under consideration.
▌Analysis : Bitcoin derivatives data suggests price could breach $105,000
According to analysis by Cointelegraph, Bitcoin recently rose 6.5% to exceed $98,000, but failed to break through key resistance levels. Derivatives market data showed that Bitcoin maintained a neutral to bullish stance, indicating that price fluctuations did not significantly affect market sentiment. This supports the possibility of a sustained Bitcoin rally above $105,000.
▌Report : Cryptocurrency OTC trading volume has grown rapidly in recent months, and the election results have become an important driving force
Several crypto trading firms have recently reported that over-the-counter (OTC) trading volume has grown rapidly in recent months, with the election results serving as an important driver. Tim Ogilvie, head of institutional business at Kraken exchange, said: “OTC trading is currently extremely active, and trading volume has surged with price increases.” He revealed that Kraken’s OTC trading volume has increased significantly by 220% year-on-year, and other trading companies have also reported Similar growth.
Jake Ostrovskis, an OTC trader at market maker Wintermute, pointed out that the market was relatively calm in the middle of the year, but as the election approached, prices rose and market participants began to actively prepare for the election results. Likewise, trader Embert Lin of market maker GSR said the company’s trading volume has increased significantly since the election. As Bitcoin, Ethereum, and altcoin prices rise, projects and investors are significantly more motivated to manage capital and risk at these price points, while also looking for new opportunities to gain exposure to other cryptoassets beyond BTC and ETH.
Traders at an over-the-counter trading firm revealed privately that recent trading volumes have easily reached levels seen at the peak of the cryptocurrency market’s popularity in 2021. In addition, Brett Reeves, head of Go Network at cryptocurrency custody company BitGo, noted that the election results were the main driver of the recent surge in transaction volume, with two-thirds of the transaction volume occurring within three months of the election results.
▌An Ethereum ICO whale deposited 4160 ETH to Kraken 3 hours ago, equivalent to approximately US$14.5 million.
According to Spot On Chain monitoring, an Ethereum ICO whale deposited 4,160 ETH (approximately $14.5 million) into Kraken 3 hours ago. It is worth noting that the whale obtained 20,000 ETH (worth $6,200 at the time) in the genesis block in July 2015, used it as a pledge to obtain rewards, and often sold it at the peak, and still holds it. Approximately 7,043 ETH ($24.6 million).
Important economic developments
▌US media: Democrats don’t like Trump, but they are looking forward to Biden leaving office
According to the US Capitol Hill, US President Biden is preparing to leave the White House in a low-key manner. His public appearances after the election attracted little media attention. Trump, by contrast, has captured much of the public's attention even before his second inauguration. Republicans said Biden's absence from major moments was to be expected. Democrats, however, have done little to support their party leader, instead voicing their anticipation for Biden to leave office even if they don't like whoever takes office next. Some Democrats said they didn't mind Trump stealing the spotlight in the final month, noting that he didn't behave inappropriately and appeared to be more measured than he was eight years ago. Some sources said Biden's move to pardon his son left Democrats "disgusted" and "utterly" annoyed with "the whole Biden world." This is how many Democrats already feel about Biden, who believe he should choose not to run for re-election or should drop out of the 2024 race early. Ivan Zappian, a former official at the Democratic National Committee, said: "Losing is not fun... I wouldn't say it's Biden fatigue, it's more of a 'well, too bad, prepare for the next (election)' Be prepared' feeling."
▌The probability that the Fed will keep interest rates unchanged in January next year is 91.4%
According to CME's "Fed Watch", the probability that the Federal Reserve will keep interest rates unchanged in January next year is 91.4%, and the probability of cutting interest rates by 25 basis points is 8.6%. The probability of keeping current interest rates unchanged by March next year is 52.1%, the probability of a cumulative 25 basis point interest rate cut is 44.2%, and the probability of a cumulative 50 basis point interest rate cut is 3.7%.
Golden Encyclopedia
▌ What is Ripple Labs’ RLUSD stablecoin?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and trading. As a stablecoin pegged to the U.S. dollar, 1 RLUSD is equal to 1 U.S. dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either U.S. dollar deposits or cash equivalents.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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