PA Daily | At least 10 companies are considering adopting MicroStrategy’s Bitcoin strategy; the number of NFT buyers this week increased by 92.39% month-on-month, and the transaction volume increased by 32.93% month-on-month to US$302.2 million
Reprinted from panewslab
12/22/2024·5MToday’s news tips:
1. Hong Kong Stock Exchange releases review of 2024: Listing Asia’s first batch of virtual asset spot ETFs and launching virtual asset index series
2. Asset management company GraniteShares applied for a cryptocurrency-related leveraged ETF to track companies such as MicroStrategy and Robinhood.
3. Analysis: The community is concerned that Bitcoin may have a “God candle” trend near Trump’s inauguration day.
4.Microstrategy adds 3 new board members, including former Binance.US CEO
5. The President of El Salvador has increased his daily Bitcoin purchases, with a mid-term goal of purchasing an additional 20,000 coins.
6. Decentralized liquidity protocol THORChain releases V3 version
7. Wormhole DAO will be launched in the first quarter of next year
8. At least 10 companies are currently considering adopting MicroStrategy’s Bitcoin strategy
9. This week’s NFT transaction volume increased by 32.93% month-on-month to US$302.2 million, and the number of buyers increased by 92.39% month-on-month.
regulatory news
The Hong Kong Stock Exchange released a review of 2024. In terms of virtual assets, the market for exchange-traded products (ETPs, including ETFs and leveraged and inverse products) is growing day by day. As of the end of November, the average daily trading volume reached 18.7 billion yuan, which is 18.7 billion yuan compared with 2023. Growth over the same period was approximately 34%. During the year, the first batch of covered call options ETFs in Hong Kong and the first batch of virtual asset spot ETFs in Asia were listed on the Hong Kong Stock Exchange, further enriching the product diversity of the ETP market and improving market liquidity, leading to the listing of 36 new ETFs. In addition, Hong Kong Exchanges and Clearing announced plans to digitize and automate the physical subscription and redemption mechanisms of ETPs to enhance the efficiency of the ETP market and promote the continued growth of its secondary market activities.
In addition, HKEx launched the HKEX Virtual Asset Index Series to provide reliable benchmark prices for virtual assets, a rapidly emerging asset class, and support Hong Kong's development into a leading digital asset center.
Reuters: The United States plans to blacklist Sophgo, an AI company associated with Bitmain
According to Reuters, citing people familiar with the matter, the Biden administration plans to add Bitmain-affiliated artificial intelligence company Sophgo to the U.S. Department of Commerce's restricted trade list because the company's TSMC-made chips were illegally incorporated into Huawei's artificial intelligence processors.
According to previous news , Sophgo, an artificial intelligence company associated with Bitmain, stated in a statement that it has never had any direct or indirect business dealings with Huawei. Sophgo has provided a detailed investigation report to Taiwan Semiconductor Manufacturing Company (TSMC) to prove that Sophgo has no direct or indirect business dealings with Huawei. irrelevant to the investigation.
A recent study by ApeX listed the top ten leading countries in blockchain and cryptocurrency technology, with Singapore topping the list. The study evaluated countries using a composite index that reflects blockchain development and adoption through three core indicators: blockchain patents, blockchain technology jobs, and the number of cryptocurrency exchanges.
- Singapore tops the list. The country is home to more than 2,400 jobs related to blockchain technology, in addition to having one of the highest concentrations of cryptocurrency exchanges in the world, with a total of 81 platforms.
- Hong Kong ranks second in blockchain and cryptocurrency technology. Its financial infrastructure seamlessly integrates blockchain and is supported by more than 1,100 jobs in blockchain technology and cryptocurrency exchanges.
- Estonia ranks third. It has 95 blockchain patents, 149 blockchain-related jobs, and 52 cryptocurrency exchanges.
- Switzerland ranks fourth. The country’s leadership in decentralized finance is driven by 440 blockchain-related jobs and 32 cryptocurrency exchanges.
- The United States ranks fifth. The United States has 32,000 blockchain patents and more than 17,000 blockchain-related jobs, in addition to 166 cryptocurrency exchanges.
- Canada ranks sixth. The country offers more than 1,200 blockchain-related jobs, 1,200 blockchain patents, and 32 cryptocurrency exchanges.
- Australia ranks seventh. The country has developed 1,400 blockchain patents, has 573 blockchain-related jobs, and 31 cryptocurrency exchanges.
- South Korea ranks eighth. The country holds 18,000 blockchain patents, ranking second among all countries studied. Its workforce is slightly smaller, with 121 blockchain-related jobs, and it owns 29 cryptocurrency exchanges.
- The UK ranks ninth. With 95 cryptocurrency exchanges, the country also provides 2,673 blockchain-related jobs and generated 2,800 blockchain patents.
- The United Arab Emirates ranks tenth. The country has 340 blockchain patents, 414 blockchain-related jobs, and 9 cryptocurrency exchanges.
GraniteShares, a New York-based asset management company with over $10 billion in AUM, applied for a new leveraged ETF to track companies such as Riot Platforms, Marathon Digital, MicroStrategy and Robinhood. These funds will be both long and short. A 2x long ETF will generate twice the daily return of the corresponding stock.
Other companies have launched other types of cryptocurrency-focused ETFs. In addition to leveraged funds, YieldMax has also launched covered call ETFs on a number of cryptocurrency companies. The company launched Coin Option Income, MARA Option Income and MSTR Option Income ETFs. These ETFs use a covered call strategy to provide investors with monthly income. In a covered call, the fund invests in a stock, sells the call option, and collects a premium, which is distributed to investors each month.
Project news
According to the British "Financial Times" report, due to the strong rebound of Bitcoin driven by Trump's victory, some cryptocurrency hedge funds "made a fortune." According to data disclosed by data provider Hedge Fund Research, the number of companies that adopted encryption strategies in November The fund increased by 46%, and the annual return rate reached 76%. The return rate of these fund companies far exceeded the industry average (10% in November).
Among them, Brevan Howard Asset Management and Galaxy Digital, a cryptocurrency investment management company founded by billionaire Mike Novogratz, are the biggest winners in the recent crypto boom. Brevan Howard’s crypto fund, with $35 billion in assets, has risen 51% so far in 2024; Galaxy It rose 90%, and assets more than doubled to $4.8 billion. However, Brevan Howard Asset Management and Galaxy have so far declined to comment on the performance of their crypto funds.
The Swiss Bitcoin platform and self-hosted application Relai announced on the In addition, Relai also mentioned Microsoft in this message, seemingly calling on it to also adopt a Bitcoin strategy.
Yuga Labs: Sold some Fartcoin, but still top 10 holders
Yuga Labs co-creates Wylie Arnow (Gordon Goner) posted on the , this reaction is exactly It shows that Fartcoin still has market dominance, and on BAYC, every time it falls, there will be comments like "I told you so", and when BAYC rises again, people will feel incredible that Fartcoin can. in bullish or bearish conditions Attracting attention, this shows that it is still the focus of the larger narrative of financial nihilism, and that narrative is not going away (in my opinion). I sold some to cover my entry when Fartcoin hit a market cap of $1 billion. losses, other than that, I'm still holding, still Top 10 holders. Maybe I'm wrong? Quite often. Sorry if you're tired of me posting about Fartcoin, trading is just something I can do when I'm sick. It’s very interesting to me now.”
According to previous news, Binance announced the launch of FARTCOINUSDT, KMNOUSDT and CGPTUSDT 1-75 times USDT perpetual contracts .
This week, the Federal Reserve finally confirmed the long-anticipated "turn" that markets had expected, with the central bank's statements and updates to its economic forecasts this week having a huge impact on markets. Market participants currently expect the Federal Reserve to cut interest rates by about 40 basis points by December 2025, and U.S. Treasury yields have risen in response. Earlier this week, Bitcoin fell from its all-time high. On Friday, Bitcoin continued its decline in the European market and once approached US$95,000. Earlier, Bitcoin just hit a new all-time high of more than US$108,000. This round of decline in the currency circle is against Altcoins such as Ethereum and Dogecoin have been hit harder. In addition, U.S. exchange-traded funds (ETFs) that invest directly in Bitcoin also ended 15 consecutive days of capital inflows this week, setting a record outflow of $680 million, highlighting the shift in market sentiment.
With Christmas approaching, the market will be relatively calm next week, but there are still some relatively influential data, but due to thin liquidity, market volatility may become large. Here are the key points that the market will focus on in the new week:
- At 23:00 on Monday, the U.S. Conference Board Consumer Confidence Index in December;
- At 21:30 on Thursday, the number of initial jobless claims in the United States for the week to December 21.
For the U.S. dollar, with the overall hawkish bias within the Fed, the U.S. dollar is not expected to easily lose the throne it gained this year, although low trading volumes during the holidays may trigger some unnecessary volatility. Overall, any market turmoil during the holidays is more likely to hit U.S. stocks and U.S. Treasuries. The Fed's hawkish stance has not been welcomed by Wall Street, and the sell-off is likely to intensify as Treasury yields continue to climb.
According to News.bitcoin, the cryptocurrency market has been as unpredictable as the U.S. government agency shutdown in recent days. There is news that the U.S. government is about to shut down due to stalled spending negotiations. This situation has historically affected in various ways. market. As market participants become disillusioned with short-term expectations, Arthur Hayes believes that the cryptocurrency market will see a "dismal decline" near Trump's inauguration day, but the crypto community is watching with bated breath that Trump's inauguration may trigger a legendary "God Candle" trend (Note: God Candle refers to Prices rose sharply in one day, making the weekly trend on the price action chart (eclipsed by side activity), meaning the current market downturn is just a temporary lull, a bear phase in a larger bull cycle, if the U.S. resolves its 2025 budget issues and Trump implements multiple Bitcoin-focused strategies To encourage the market, Bitcoin could see a huge recovery.
Of course, the immediate price trend of Bitcoin remains unclear at this time. Whether Trump’s inauguration as U.S. president will usher in the expected boom in the crypto market is uncertain.
Vitalik: In favor of building intelligence-enhancing tools for humans, not super-intelligent life
Vitalik Buterin, the founder of Ethereum, posted on the , it will be able to continue civilization independently. Obviously, this is a very difficult definition to measure, but I think this is the core of the intuitive difference between "AI we are accustomed to" and "AGI" in many people's minds. It marks the transition from a tool constantly dependent on human input to a self-sufficient life form. ASI (Super Artificial Intelligence) is another thing entirely - my definition is when humans no longer add value to productivity in the loop (like in board games, which we actually only got to in the past decade) That's the point. ) Yes, ASI scares me - even AGI as I define it scares me because it poses a clear risk of loss of control. I support focusing our efforts on building intelligence-enhancing tools for humans rather than building superintelligent life forms. "
Microstrategy adds 3 new board members, including former Binance.US CEO
Shortly before being added to the Nasdaq 100 stock index, Microstrategy added three members to its board of directors, bringing the total to nine, according to the latest filing. Documents show that the new board members include Brian Brooks, Jane Dietze and Gregg Winiarski, all of whom have experience working at large companies dealing with digital assets. Each board member will receive $2 million worth of equity, half of which will be options and the other half will be RSUs that will vest over four years.
Brian Brooks served as CEO of Binance.US, the U.S. arm of the global Binance exchange, from May 2021 to August 2021. Brooks also served as Coinbase's chief legal officer from September 2018 to March 2020.
Jane Dietze has served as Brown University's chief investment officer since July 2018, overseeing the Ivy League school's $7.2 billion endowment. Since February 2022, Dietz has also served as a board member of Galaxy Digital, a digital asset company founded by Mike Novogratz.
Gregg Winiarski has served as chief legal officer of sportswear and collectibles company Fanatics since February 2023. Winiarski has served as senior counsel to Fanatics since August 2021 until February 2023, when she assumed the top legal position.
Max Keizer, senior Bitcoin adviser to the President of El Salvador, said that President Bukele has increased his daily Bitcoin purchases, with a mid-term goal of purchasing an additional 20,000 Bitcoins.
On-chain analyst Ember monitors that about 30 minutes ago, Arthur Hayes withdrew the address 7.85 million USDC from Binance. It is estimated that the 7 million ENA transferred to Binance last night has been sold at an average price of US$1.12.
Decentralized liquidity protocol THORChain releases V3 version
Decentralized liquidity protocol THORChain releases V3 version. This update provides advanced interoperability and smart contract functions, including upgrading to Cosmos SDK v0.50, switching from Tendermint to CometBFT, introducing Cosmos ecosystem compatibility, and joining the Rujira application layer etc.
Wormhole DAO will be launched in the first quarter of next year
Cross-chain protocol Wormhole stated that Wormhole DAO will be launched in the first quarter of 2025. To participate in the first vote, W holders need to make a governance stake. The Wormhole Staking Reward Program (SRP) is ongoing in all chains (EVM + Solana), and the first phase of the reward pool will allocate at least 50 million W tokens.
According to previous news , Wormhole launched a W token pledge plan with a minimum reward of 50 million tokens.
important data
Over 4.5 million ETH has been destroyed since EIP-1559 was activated
Since the activation of EIP-1559, 4,523,479.74 ETH have been permanently destroyed, worth over $15.3 billion. On-chain transfers accounted for approximately 8.17% of the total amount of ether burned, while Opensea NFTs accounted for approximately 5.08% of the total amount of ether burned. The decentralized exchange (dex) platform Uniswap destroyed 225,723.78 ETH, accounting for 4.99% of the total amount of ETH destroyed. At the same time, Tether (USDT) transactions on the Ethereum network resulted in the destruction of 205,458.95 ETH, accounting for 4.54% of the total amount of ETH destroyed. Currently, the network's inflation rate is at a modest 0.820%, with 3,245,017.99 more ETH in circulation since the hard fork.
CryptoSlam data shows that the total NFT transaction volume this week reached US$302.2 million, a month-on-month increase of 32.93% compared with US$224 million last week. The number of NFT buyers increased by 92.39% to 349,972; the number of NFT sellers increased significantly by 77.18% to 207,672.
The volume of NFT transactions on the Ethereum network soared to $199.9 million. It has increased by 73.56% in the past seven days. Bitcoin network NFT ranked second, with transaction volume falling 23% to $39.7 million. However, user engagement on the network has grown well, with the number of buyers reaching 38,987. The Solana network consolidated its third position with a transaction volume of $29.9 million, a month-on-month increase of 5.14%, and a total of 104,958 buyers, a month-on-month increase of 108.45%.
Transaction volume at Pudgy Penguins nearly doubled to $53.9 million, an increase of 90%. LilPudgys ranked second with a transaction volume of $19.4 million and a growth rate of 53.57%. Azuki ranked third with a transaction volume of $16.9 million and a growth rate of 108.19%. Doodles rounded out the top five with a trading volume of $13.4 million, a growth rate of 226.08%, while BRC-20 NFT rounded out the top five with a trading volume of $9.2 million.
Notable deals this week include:
- Pudgy Penguins #4611 sold for $493,925 (125 ETH)
- CryptoPunks #6036 sold for $444,019 (110 ETH)
- Pudgy Penguins #7891 sold for $395,140 (100 ETH)
- Azuki #6872 sold for $380,659 (108 ETH)
- Azuki #6536 sold for $372,866 (95.4774 ETH)
On-chain analyst Ember monitors that in October whales/institutions spent 32.45 million USDC through 21 addresses to purchase 8.917 million EIGEN at an average price of $3.64. Since last night, they have begun to redeem EIGEN and sell it on the chain.
Since 7 o'clock last night, they have had 4 addresses redeem 1,270,507 EIGEN (USD 5.02 million) from the EigenLayer pledge contract and are selling them on the chain for ETH or USDC. EIGEN has been redeemed and sold to 4 addresses. A few days ago, when EIGEN reached a maximum of $5.6, their 8.917 million EIGEN made a profit of $17.65 million. But now it has fallen back to near the cost line.
According to monitoring by on-chain analyst @ai_9684xtpa, "smart money that has made a profit of US$4.92 million through the PEPE band in the past six months" opened another 475.3 billion PEPE positions four hours ago, worth US$8.2 million, with an average price of US$0.00001724. It has now floated Profit of US$142,000. In December, 5 giant whales "placed big bets" on PEPE. The other 4 whales are:
- The whale who bought low and sold $PEPE high and made a profit of US$6.24 million on 12.21 re-established a position of 250 billion PEPE at a cost of US$0.00001697
- Address 0x53A...63F4A opened a position for the first time on 12.16 with 230.1 billion PEPE at a cost of US$0.00002455.
- Smart money with a winning rate of 85% in the ETH band opened a position of 788.2 billion PEPE on 12.15, with an average price of $0.00002394.
- "PEPE band winning rate 100% whale" once again added 3.68 million US dollars in PEPE positions. The current PEPE position is 1.129 trillion US dollars, and the average cost is 0.00001647 US dollars.
At least 10 companies are currently considering MicroStrategy’s Bitcoin strategy
At least 10 companies are currently pursuing or considering adopting MicroStrategy's Bitcoin strategy, including:
- Artificial intelligence company Genius Group: At the beginning of this month, the company bought 194 Bitcoins at an average price of $92,728 and currently holds 294 BTC;
- Worksport, a provider of pickup solutions: The company’s board of directors previously passed a resolution approving an initial purchase of $5 million worth of BTC and XRP. The company stated in its announcement that it will invest 10% of its remaining operating cash into this company transformation.
- Amazon: Shareholders propose company board evaluate potential benefits of adding Bitcoin to financial strategy;
- MicroStrategy: currently holds 439,000 BTC;
- MARA Holdings: currently holds 44,394 BTC;
- Tesla: currently holds 9,720 BTC;
- Coinbase: Currently holds 9,480 BTC as part of its reserves;
- Hut 8 Mining Corp: currently holds 10,096 BTC;
- Block Inc.: Currently holds 8,027 BTC;
- OneMedNet: Currently holds 34 BTC.
