Daily Market Brief 2024/08/15 12:00 UTC+8
Analyst Views
“ Global liquidity trends and loose financial policies will further benefit the crypto market . Despite occasional sell-offs, continued support from long-term holders continues to support Bitcoin’s stability amid market volatility.” - Cryptocrunch
“The U.S. government on Wednesday transferred 10,000 Silk Road-linked seized Bitcoin (BTC) to institutional platform Coinbase Prime. In this case, the transfer was likely for custody reasons , as the U.S. Marshals Service, an agency under the U.S. Department of Justice, announced a partnership with Coinbase Prime last month to “safeguard and trade” large digital assets.” - Coindesk
“More than 45% of Bitcoin’s total supply has not moved in the past six months. Long-term holders (LTHs) have held onto assets for at least 155 days, demonstrating a strong willingness to hold on even after Bitcoin reached its all-time high .” - Glassnode
Market Hotspots
On August 14, the US Bitcoin ETF had a net inflow of 1,190 BTC.
On August 14, the US Ethereum ETF had a net inflow of 18,726 ETH.
The Wisconsin State Investment Committee increased its holdings of BlackRock’s Bitcoin ETF.
Traders see a 56.5% chance that the Fed will cut rates by 25 basis points at its September meeting and a 43.5% chance of a 50 basis point cut.
The largest Bitcoin option today was purchased by an investor who bought a $65,000 call option at the end of the year and sold a $85,000 call option at the end of March next year , totaling 380 BTC and earning a premium of $1.975 million.
Investment and Financing Information
Stablecoin payment application Sling Money completed a US$15 million Series A financing round, led by USV and others.
Ethereum Layer 2 development company Parfin has completed a $10 million Series A financing round led by ParaFi Capital.
Smart account development company Rhinestone has completed a $5 million seed round of financing, led by 1kx.
Regulatory developments
Fireblocks announced that it has obtained a New York State cryptocurrency custody license to custody cryptocurrencies for US customers.
Binance will pay 9.6 million reais (about $1.76 million) to the Brazilian Securities and Exchange Commission (CVM) to end the CVM's investigation into its failure to obtain the necessary licenses to provide derivatives trading services in Brazil.
