Over 80,000 BTC flowed out of the exchange, and a whale transferred 3,370 ETH to Kraken.

Reprinted from jinse

12/29/2024·4M

headlines

▌Over 80,000 BTC have flowed out of exchange wallets in the past 30 days

According to the latest data, 9335.34 BTC have flowed out of exchange wallets in the past 24 hours, 3335.07 BTC have flowed into exchange wallets in the past 7 days, and 80989.21 BTC have flowed out of exchange wallets in the past 30 days. As of press time, the total exchange wallet balance is 2,243,869.39 BTC.

▌An ETH whale transferred 3,370 ETH to Kraken 9 hours ago

According to on-chain analyst Ember Monitoring, a whale that received 200,000 ETH from the Ethereum genesis block in 2015 transferred 3,370 ETH ($11.37 million) to Kraken 9 hours ago. He transferred 48,687 ETH (US$171.78 million) into Kraken this year, with an average transfer price of US$3,528. However, after eight years of continuous sales, his ETH has now been almost sold out. There are currently 7,594 ETH (25.72 million U.S. dollars) left, which will be cleared in 1-2 more sales.

Quotes

As of press time, according to Coingecko data:

BTC’s recent transaction price was US$94,836.25, with an intraday increase or decrease of +0.5 % ;

ETH’s recent transaction price was US$3,377.90, with an intraday increase or decrease of +1.4% ;

BNB’s recent transaction price was US$715.35, with an intraday increase or decrease of +2.9 % ;

SOL’s recent transaction price was US$192.49, with an intraday increase or decrease of +4.0 % ;

DOGE’s recent transaction price was 0.3218 yuan, with an intraday increase or decrease of +2.5% ;

XPR’s recent transaction price was $2.17, with an intraday increase or decrease of +1.3% .

policy

▌Galaxy Digital Research Director: If the IRS finally identifies the DeFi front-end as a broker, the industry will face difficult choices

Alex Thorn, director of research at Galaxy Digital, said that if the U.S. Internal Revenue Service’s (IRS) regulations identifying DeFi front-ends as brokers are not withdrawn, the DeFi industry will face three options: comply with the IRS’s reporting requirements and accept the broker designation, and try to prevent Users from the United States give up smart contract upgrades and revenue generation. It was reported yesterday that the U.S. Internal Revenue Service (IRS) issued final regulations requiring brokers to report digital asset transactions and bring DeFi platforms into the existing tax framework. The rule, which takes effect in 2027, will force brokers to disclose transaction details, including gross proceeds and taxpayer information. Brokers must start collecting and reporting data in 2026. The IRS estimates that 650 to 875 DeFi brokers will be affected, potentially affecting as many as 2.6 million taxpayers. These regulations mainly target transaction front-end service providers, such as DEXs that facilitate digital asset trading. According to the IRS, these platforms act as intermediaries, and classifying them as brokers will help ensure tax compliance.

▌CryptoQuant founder: Trump’s Bitcoin policy depends on the economic status of the United States

Ki Young Ju, CEO and founder of CryptoQuant, said President-elect Donald Trump’s Bitcoin policy may depend on the global investment community’s view of the U.S. economy and the strength of the U.S. dollar. Ju believes that when investors believe that U.S. economic hegemony is threatened, the prices of store-of-value assets such as gold and BTC surge. However, investors continue to express confidence in the U.S. economy and view the dollar as a safe haven currency. This advantageous position makes it unlikely that the Trump administration will adopt a strategic reserve of Bitcoin to protect the dollar’s dominance, and could lead to the president-elect backtracking on pro-Bitcoin policies.

▌Magic Eden General Counsel: David Sacks only has 2 years to push pro- cryptocurrency policies

Magic Eden general counsel Joe Doll recently stated that David Sacks only has 2 years to promote policies that support cryptocurrency before the 2026 U.S. midterm elections. The threat of government gridlock could stifle regulation, and the current administration must push for pro-cryptocurrency policies while still controlling both houses of Congress. "The majority in the House is very slim and is likely to flip because the House almost always flips. So you could have a divided government that has things settled in 2 years. So we have 24 months to Push for something important.”

Blockchain application

▌Sophon completes mining migration and opens mainnet mining

Sophon, a modular blockchain based on ZKsync, announced that it has completed its mining migration and started the second phase. Mainnet mining is now open. According to previous news, Sophon announced the mining migration timeline: the L1 mining withdrawal window will be closed at 7:59 on December 27; all remaining assets will automatically cross-chain to the Sophon main network on December 27, and the first phase of SP point accumulation will end; 12 Mainnet mining will be opened on March 28th.

▌Ethena’s Berachain incentivized pre-deposit vault is now live

Ethena Labs announced that Ethena’s Berachain incentivized deposit vault is now online, accepting USDe, sUSDe, and USDC/USDT deposits. Concrete has launched 2 Ethena pre-deposit vaults for the Berachain launch deposit program, and they are the first places where users can retain USD exposure but receive Berachain rewards and participate in its ecosystem. After the Berachain mainnet goes live, the pre-deposited vault will deploy liquidity across whitelisted protocols in the Berachain ecosystem. Deposits of USDe and sUSDe will be eligible for Ethena rewards, Concrete Points, BERA and native ecosystem rewards.

cryptocurrency

▌A dormant address containing 357 BTC was activated after 11.0 years, equivalent to approximately US$34 million.

According to on-chain data tracking service Whale Alert, a dormant address containing 357 BTC ($34,070,177) has just been activated after 11.0 years.

▌Polymarket predicts that the probability of spot Solana ETF being approved before July 31 next year will rise to 71%

Polymarket predicts that the probability that the U.S. SEC will approve the spot Solana ETF application before July 31, 2025 has risen to 71%. Yesterday's news, The ETF Store President Nate Geraci disclosed that VolatilityShares has submitted an application to the US regulatory agency to launch a leveraged ETF based on Solana futures. In response, Bloomberg senior ETF analyst Eric Balchunas posted on the X platform that if the Solana futures ETF is approved, The launch may promote the listing of spot Solana ETF.

▌The U.S. Spot Bitcoin ETF bought 511,314 Bitcoins this year and currently holds 1.13 million Bitcoins

According to HODL15Capital monitoring, the US spot Bitcoin ETF purchased 511,314 Bitcoins this year and currently holds 1.13 million Bitcoins, accounting for 5.4% of all Bitcoins.

▌El Salvador currently has 6,000 Bitcoins

According to an article published by Bitcoin Magazine on the X platform, El Salvador currently has 6,000 Bitcoins worth more than $569 million.

Important economic developments

▌Analysis: The positive correlation between the Korean stock index and BTC price was broken, and funds shifted from the stock market to the crypto market

Asian stock markets have been mixed this year against the backdrop of a strong US dollar. Some have achieved a bull market in local currency-denominated stocks at the expense of exchange rate depreciation, while others have sacrificed part of their stock market gains at the expense of relatively stable exchange rates. South Korea is the only exception. In terms of Korean won, the KSOPI has fallen by 10.0% this year. After taking into account the fall of the Korean won, the KSOPI in US dollar terms has fallen by 18.9%, both of which are the weakest in Asia. From the perspective of capital flows, since the second half of this year, only institutions in South Korea have maintained net purchases in the stock market, while the residential sector has continued to reduce purchases. Analysts believe that most of the money Korean residents took out of the stock market was used for "currency speculation." Data from the Bank of Korea (BOK) show that as of November, the number of domestic cryptocurrency investors in South Korea has reached 15.59 million, an increase of 610,000 from the previous month. Currently, 30% of the 51 million Korean citizens are speculating in currencies. The average daily trading volume of South Korea’s five major cryptocurrency exchanges—UPbit, Bithumb, Coinone, Korbit, and GOPAX—jumped from 3.4 trillion won in October to 14.9 trillion won in November, an increase of more than four times. Koreans have always been keen on investing in cryptocurrencies. In the first wave of the cryptocurrency bull market in 2017, about 5% of the population participated; in the second bull market in 2021, 10% of the population participated; now this proportion has expanded to 30%. However, historically, the Korean stock index and the price of Bitcoin have been positively correlated as a whole. Until October this year, this positive correlation was completely broken. (Wall Street News)

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.