PA Daily | Arthur Hayes bets BTC rise to $110,000 before falling; CZ goes long on APX Finance mubarak
Reprinted from panewslab
03/24/2025·1MToday's news tips:
White House Officials: U.S. may use its gold reserves to buy more Bitcoin
Arthur Hayes bets Bitcoin will rise to $110,000 first
WLFI purchases another $3 million in MNT, and its portfolio has lost more than $100 million
CZ opens contracts on APX Finance to go long mubarak
Metaplanet purchased another 150 bitcoins, with a total holding of 3,350
Regulatory/Macro
White House Officials: U.S. may use its gold reserves to buy more Bitcoin
Bo Hines, executive director of the President's Digital Assets Advisory Committee, said in an interview that the United States can use the proceeds from its gold reserves to buy more bitcoins. According to Hines, the move could be a budget neutral way to increase the country's bitcoin reserves. Hines cites the 2025 Bitcoin bill proposed by Senator Cynthia Lummis, which advocates that the United States receives 1 million Bitcoins in five years, accounting for about 5% of the total Bitcoin supply. Buying Bitcoin will raise funds by selling the Fed’s gold certificate.
Metaplanet purchased another 150 bitcoins, with a total holding of 3,350
According to Metaplanet's announcement, as part of its Bitcoin vault strategy, the company purchased 150 Bitcoins again, with an average price of 12,570,173 yen per coin, totaling about 1.886 billion yen. As of now, the company has held a total of 3,350 Bitcoins, with a total purchase of approximately 42.216 billion yen.
Viewpoint
Matrixport: Bitcoin benefits from Fed's turn to easing and arbitrage selling pressure relief
According to Matrixport analysis, Bitcoin is currently trying to break through the downward trend, benefiting from the Fed's slightly dovish attitude and Trump's suggestion of adopting a more targeted tariff strategy. These changes provide a more constructive environment for the market. Additionally, selling pressure on arbitrage funds may be easing as the end of the quarter approaches. Funding rates continue to be sluggish, and most of the sell-offs are coming to an end. Although current catalytic factors are not enough to support Bitcoin’s record highs, the market outlook has improved significantly.
Arthur Hayes bets Bitcoin will rise to $110,000 first
According to an article posted on X platform, Arthur Hayes said he was optimistic that Bitcoin will rise to $110,000 first, rather than pullback to $76,500. The reason is that the Fed is shifting from quantitative tightening (QT) to quantitative easing (QE) on U.S. bonds, and inflation is seen as "temporary" and tariff impact is limited. He said he will elaborate on his views in detail in the next article, and now he will provide a summary of the "TikTok Brain Capacity Edition".
Kaito AI founder Yu Hu posted on the X platform that this round of Kaito airdrop has adopted an unprecedented approach, and has not required users to perform specific tasks for Kaito, but has used AI on a large scale for the first time as a neutral evaluator to identify users who have long recognized Kaito's value. Data shows that accounts that have obtained high weighted points have a ratio of about 20% higher holdings to pledges. The three key indicators are long-term awareness, value recognition and ecological participation in Kaito (including Kaito Pro and Yaps). At the regional level, the coin holding rate of South Korean users is 50% higher than the average. Yu Hu said that although the method is imperfect, it effectively protects the network and inspires long-term supporters.
Solana: There is no need to build L2, L1 can be faster and safer
Solana co-founder Anatoly Yakovenko responded to the argument on the X platform, saying that "there is no need to build L2" because L1 itself can achieve faster, cheaper and safer performance. He noted that L1 does not need to be limited by a slow data availability stack, nor does it need to rely on complex fraud proof or multi-sign mechanisms to avoid security compromises.
Project News
WLFI purchases another $3 million in MNT, and its portfolio has lost more than $100 million
According to on-chain analyst Ember Monitor, WLFI, a DeFi project supported by the Trump family, purchased 3.539 million MNTs for $3 million 15 minutes ago, with an average transaction price of about $0.84. Up to now, WLFI has invested about US$343 million to deploy 11 tokens including ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE, ONDO, SEI, AVAX, MNT, etc., with an overall book loss of about US$109 million, with a loss rate of one-third. Some tokens and WLFI have mutual "carrying" behavior.
According to the official announcement of Lnfi Network, the project party decided to postpone the original token generation event (TGE) and did not announce a new schedule. The official said that the extension is based on the current market environment and the decision made by the hope of providing a stronger and far-reaching online experience to the community and stakeholders, and the progress will continue to be updated in the future.
According to Binance Alpha market data, AGON rose to a maximum of US$0.015253, a short-term increase of 51.36%, and is now quoted at US$0.0127. Previous news, Binance Alpha added BUBB and AGON.
SHELL repurchase progress reached 81.2%, and token price rose by more than 4% since repurchase
According to monitoring by Ai, an analyst on-chain, SHELL repurchase address proposed 1 million tokens from Binance two minutes ago, with a total repurchase of 21.95 million, and the completion progress increased to 81.2%. Since the start of the repo on March 14, the price of SHELL tokens has risen 4.56%, from $0.2565 to $0.2682.
CZ opens contracts on APX Finance to go long mubarak
According to CZ's article on X platform, at 01:17 Beijing time on March 24, he conducted the first on-chain perpetual contract test on APX Finance, longing token mubarak, the current price is about US$0.149 and the take-profit is set to US$0.165. CZ said this move is to experience the on-chain transaction process and to test whether MEVs (miners can extract value). He also revealed that he had never traded futures on Binance platform and had only seen product demonstrations. He also said that the overall experience on the chain was not as good as CEX, and said that he did not intend to become a trader.
Important data
Bitcoin spot ETF net inflows of $744 million last week, BlackRock IBIT ranked first
According to SoSoValue data, Bitcoin spot ETFs recorded a total of US$744 million in net inflows last week. BlackRock IBIT ranked first with US$538 million in weekly net inflows, with cumulative net inflows reaching US$39.77 billion; Fidelity FBTC ranked second with US$136 million. In terms of outflows, Grayscale GBTC had the largest net outflow of US$24.47 million, with its cumulative net outflow of US$22.53 billion. The current net asset value of Bitcoin spot ETFs is US$94.35 billion, accounting for 5.65% of BTC's market value, and the cumulative net inflow has reached US$36.05 billion.
Bitcoin mining difficulty increased by 1.43% to 113.76 T last night, close to an all-time high
Cloverpool data shows that the difficulty of Bitcoin mining is at 889,056 (03-23 19:15:42 Beijing time), with the difficulty increased by 1.43% to 113.76 T, close to the historical high (114.17).
USDC Treasury adds 250 million USDC to Solana Chain
According to Whale Alert monitoring, at 04:00 Beijing time on March 24, USDC issuer USDC Treasury cast 250 million USDCs (approximately US$249,973,750) on the Solana chain.
According to the report "State of Crypto Perpetuals: 2024" recently released by CoinGecko, as of 2024, the total annual trading volume of the top ten centralized perpetual contract exchanges reached US$58.5 trillion, doubled from 2023. The total decentralized perpetual exchange reached US$1.5 trillion, and Hyperliquid occupied more than 55% of the market share in Q4. Bitcoin accounts for about 45% of open contracts on centralized platforms throughout the year. The total open position exceeded $100 billion for the first time since November 2024, mainly boosted by market sentiment after Trump's victory. The trading volume of Solana-related contracts has soared many times this year, which is closely related to the meme coin boom and the launch time of celebrity tokens.
Financing
DWF Labs announced the launch of the $250 million liquidity fund, the Liquid Fund, aims to accelerate the expansion and adoption of medium and large crypto projects. Recently, DWF Labs has invested more than US$11 million in blockchain projects and plans to sign two major investment agreements with a total amount of US$35 million through the fund, with a single project investment scale ranging from US$10 million to US$50 million. The fund will provide strategic capital and ecological support, focusing on promoting the expansion of stablecoin TVL, lending market development, brand promotion and community participation, etc., to help the project achieve sustainable growth.
jinse
