PA Daily | Spot gold hits $3,500 per ounce; Upbit will launch DEEP in the Korean won market
Reprinted from panewslab
04/22/2025·28DToday's news tips:
Paradigm transfers 5500 ETH to Anchorage, or as a precursor to the sale
Ouyi will launch spot trading pairs of five currencies including KISHU and MAX on April 29
Metaplanet currently holds 4855 BTC and plans to hold 10,000 BTC at the end of the year
Spot gold hit $3,500 per ounce
Upbit will launch DEEP in the Korean won market
Hyperlane: HYPER token application will be open tonight at 20:00
Regulatory/Macro
Metaplanet currently holds 4855 BTC and plans to hold 10,000 BTC at the end of the year
Metaplanet CEO Simon Gerovich said that although some shareholders have concerns about the share price, the company focuses on creating long-term corporate value. Metaplanet currently holds 4,855 bitcoins, with a target of 10,000 by the end of the year. The company's Bitcoin holdings grew by 119.3%, far exceeding its quarterly target.
Spot gold hit $3,500 per ounce
TradingView data shows that London spot gold prices have just hit $3,500 per ounce. It rose more than 2% intraday, and has accumulated a cumulative increase of more than $870 so far this year.
According to the prosecution documents and @EleanorTerrett, the Oregon Attorney General sued Coinbase, accusing it of violating the state securities laws and illegally providing and selling assets identified as "crypto securities" to Oregon residents, with a total of 31 tokens, which are far more than the number mentioned in the SEC's previous cases, covering AAVE, UNI, LINK, MKR, FLOW, XRP, etc. The document states that Coinbase has long evaded regulatory obligations and assisted in the sale of unregistered securities. The current litigation is based on state laws rather than federal laws, representing the new trend of pressure on crypto platforms at each state level.
All three major U.S. stock indexes fell by more than 2%, gold hitting a record high
TradingView market shows that US stocks closed sharply this morning. As of the close, the S&P 500 fell 2.36% to 5158.2 points; the Nasdaq Composite fell 2.55% to 15870.9 points; and the Dow Jones Industrial Average fell 2.48% to 38170.41 points. Gold hit a new record high this morning, with London spot gold hitting $3,440/ounce this morning, and the New York Mercantile Exchange (COMEX) gold futures contract hitting $3,442/ounce.
Viewpoint
Matrixport analysis pointed out that Bitcoin has broken through the previous downward channel, outperformed the U.S. stock market and bonds, and strengthened its role as an asset hedge against the value of the dollar. Especially for U.S. investors, Bitcoin’s hedging role is particularly important, similar to its performance during the debt crisis in Argentina, Türkiye and southern Europe. With the increase in macroeconomic and geopolitical pressures, the importance of Bitcoin in asset allocation has been continuously verified. After this breakthrough, it became possible for Bitcoin to break through the key resistance level of $90,000.
CryptoQuant analyst Darkfost pointed out that the current market has seen the largest 24-hour open contract volume growth in recent times. Historically, derivatives-driven ups have often lacked sustainability. During the strong bull market stages in November and December 2024, open contract volume increased by 16% and 15%, respectively, when the positive momentum of the spot market was strongly supported by the derivatives market. However, this time the price rose only 4.2%, while similar past events have caused prices to rise by 10% and 7% respectively. This difference shows that the current market selling pressure is still strong.
Project News
Bithumb to launch PUMP in its Korean won market
According to Bithumb's announcement, PUMP tokens will be launched on its Korean won trading market at 18:00 on April 22, 2025, supporting BNB Smart Chain online recharge and transactions. The 5-minute trading restrictions and price range restrictions will be implemented in the early stage of online launch. PUMP is also called "PumpBTC" on some overseas platforms. Users must confirm the network and naming information before recharge.
Binance Contract launches DEEPUSDT perpetual contract, up to 50 times leverage
According to Binance announcement, Binance Futures will officially launch the DEEPUSDT perpetual contract at 16:30 on April 22, 2025 (UTC+8), supporting up to 50 times of leverage.
Ouyi will launch spot trading pairs of five currencies including KISHU and MAX on April 29
According to Ouyi OKX announcement, KISHU, MAX, MILO, MXC, SSWP and its USDT trading pairs will be officially offline from 16:00 to 18:00 Beijing time on April 29. The coin recharge function has been closed on April 22, and withdrawal will be terminated on July 29.
Aave launches Ripple stablecoin RLUSD lending support on Ethereum main network
According to Aave's announcement, RLUSD has now been launched in the Ethereum main network Aave V3 market. The platform sets a supply limit of 50 million for this stablecoin and a loan limit of 5 million. Users can participate in RLUSD-related lending operations through Aave's official website.
According to The Block, South Korean crypto exchange Bithumb announced that it will complete the company structure restructuring on July 31, 2025, divest its non-transaction-related business to form a new entity "Bithumb A" to isolate potential risks and improve operational efficiency. The restructuring is intended to prepare for the planned IPO in the second half of this year, with potential listing locations including the local market in South Korea and the Nasdaq. Bithumb's net profit reached US$110 million last year, a year-on-year increase of 560%.
Upbit will launch DEEP in the Korean won market
PANews reported on April 22 that according to the official announcement, South Korean crypto exchange Upbit will launch DEEP (Sui Network) in the Korean won market, and trading will start at 14:30 (UTC+9) (expected).
Hyperlane: HYPER token application will be open tonight at 20:00
According to Hyperlane's announcement, the application for HYPER tokens will be officially opened at 20:00 Beijing time on April 22.
Coinbase will support RSR token trading on the Base network
Coinbase announced that it will support transactions of Reserve Rights (RSR) tokens on the Base network, and users must not transfer money through other networks to avoid loss of assets. If the liquidity conditions are met, the RSR-USD trading pair will be launched in stages after 0:00 am on April 23, 2025 Beijing time, and there may be trading restrictions in some areas.
Important data
According to Ember Monitoring, a whale or institution that pledged 991,000 SOL four years ago had just redeemed 100,000 SOL (worth $13.9 million) from the pledge and transferred it to Binance. The address has earned a total of $153.5 million in revenue over the past four years, including $111.4 million in appreciation of SOL (the SOL priced at $27.57 four years ago was $140 now), and the 300,000 SOL interest obtained through pledge, worth $42.08 million. At present, there are still 1.191 million SOLs (worth $167 million) in pledge at the address.
According to CoinShares' latest weekly report, last week, digital asset investment products had a net inflow of $6 million, and Bitcoin ended with a slight outflow of $6 million. Investment products that short Bitcoin also saw an outflow of US$1.2 million, outflowing for the seventh consecutive week, with a total amount of US$36 million, accounting for 40% of the total managed assets. Ethereum continued to perform poorly, with $26.7 million outflows last week and a cumulative outflow of $772 million in the past eight weeks. Despite this, Ethereum's net inflow from the beginning of the year to date is $215 million, ranking second. XRP performed well, with $37.7 million inflows last week, making it the third most successful asset this year, with a net inflow of $214 million year-to-date.
According to SoSoValue data, the total net inflow of Bitcoin spot ETFs reached US$381 million on April 21, Eastern Time, and all twelve products recorded net inflows. Among them, ARKB's net inflow was US$116 million, with a total of US$2.601 billion; FBTC's net inflow was US$87.61 million, with a total of US$11.369 billion. As of now, the total net asset value of Bitcoin spot ETFs is US$97.611 billion, accounting for 5.63% of the total market value of Bitcoin, and the historical cumulative net inflows reached US$35.756 billion.
Galaxy Digital is suspected of selling ETH to exchange for SOL
According to Lookonchain monitoring, Galaxy Digital transferred 65,600 ETH (about $105 million) to Binance in the past two weeks, and extracted 752,240 SOLs (about $98.37 million) from Binance, which is suspected of undergoing ETH-for-SOL operation.
Paradigm transfers 5500 ETH to Anchorage, or as a precursor to the sale
According to Embers, Paradigm transferred 5,500 ETHs (about $8.66 million) to Anchorage, an institutional brokerage platform, about three hours ago. In the past year, Paradigm has transferred a total of 96,955 ETHs to Anchorage, with a total value of about $302 million and an average price of about $3,110. Previous similar operations were usually followed by subsequent transfers to exchanges such as Coinbase and Binance, which were suspected to be prepared for sale.
Galaxy Digital transferred 5,000 ETH to Binance 8 hours ago
According to The Data Nerd monitoring, Galaxy Digital once again transferred 5,000 ETH to Binance 8 hours ago, which is about $8.11 million. In the past week, it has transferred a total of 65,280 ETH to various exchanges, about US$105 million. It still holds about 55,760 ETH, worth about $87.86 million.
Financing
Bitdeer raises $179 million to drive Bitcoin ASIC manufacturing business
Bitdeer raised $179 million through loan and equity financing to accelerate its Bitcoin ASIC manufacturing business. The company reached a loan agreement with Matrixport for up to $200 million and received a $17 million unsecured loan in January. Additionally, Bitdeer raised $118.8 million through the issuance of shares. Funds will be used to expand ASIC manufacturing and in-house chip development to challenge companies such as Bitmain and MicroBT. In 2024, Bitdeer received approximately US$147 million in gross profit from its mining and custody business and invested a lot of money in the production of the SEALMINER series of chips.
jinse