Long-term Bitcoin holders continue to reduce their holdings, with the total value of their holdings falling from $19 billion to $12 billion

CryptoQuant analysis shows that the value of Bitcoin long-term holders (holding for more than 155 days) has decreased from $19 billion to $12 billion. In contrast, short-term holders have seen a significant increase in their holdings, which has increased by $6 billion recently, indicating a clear change in market dynamics.

After the Ethereum Dencun upgrade, the mainnet transaction fee dropped to the lowest level in history

On October 6, after the Dencun upgrade, Ethereum mainnet fees hit a record low, mainly because the implementation of the EIP-4844 proposal reduced the transaction costs of the L2 network by 10 times. But this also led to a reduction in the amount of Ethereum destroyed, prompting ETH to shift from a deflationary state to an inflationary state.

Tether releases USDT documentary to celebrate 10th anniversary

On its tenth anniversary, Tether released a documentary focusing on USDT’s role in fighting inflation. The trailer shows interviews with users from high-inflation countries such as Turkey, Brazil, and Argentina, detailing how USDT has benefited them. One interviewee mentioned that 90% of transactions in Brazil are conducted using USDT, highlighting its significant impact in the trading space.

UAE amends VAT regulations to exempt crypto asset transfers and conversions from VAT

On October 2, the UAE Federal Tax Authority issued amendments to the VAT regulations. According to Cabinet Decision No. (100) of 2024, the new regulations will be retroactive to January 1, 2018, and implement a VAT exemption policy for the transfer and conversion of virtual assets (including cryptocurrencies).

Gold advocate Peter Schiff: The collapse of the "false economy" will allow the real economy to recover

Economist and gold advocate Peter Schiff warned that restoring the real economy requires the collapse of the "false economy," which would lead to significant financial losses for many people. He also stressed that the alternative is worse because it would lead to currency devaluation.

Musk updates his personal X profile to support Trump's presidential campaign

On October 6, Musk updated the profile of his X account to "Read @America to understand why I'm supporting Trump for President" and updated the profile link to the "American Political Action Committee" website.

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