Headline
▌BTC Breaks $98,000
The market shows that BTC has broken through $98,000, currently trading at $98,015.81, with a 24-hour increase of 0.41%. The market fluctuates greatly, please manage the risks.
▌Tether Mints Additional $3 Billion USDT Stablecoin
Data from Arkham Intelligence shows that $2 billion USDT was minted on the Ethereum blockchain, and an additional $1 billion USDT was minted on the TRON network through consecutive transactions. Since November 8, 2024, Tether has minted approximately $13 billion.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $97,985.14, with a daily change of +0.0%;
ETH's latest trading price is $3,362.29, with a daily change of -1.3%;
BNB's latest trading price is $659.55, with a daily change of +1.1%;
SOL's latest trading price is $259.17, with a daily change of +1.1%;
Doge's latest trading price is $0.4273, with a daily change of +9.2%;
XPR's latest trading price is $1.42, with a daily change of -1.2%.
Policy
▌Coin Center Research Director: Investor Protection and Regulatory Transparency May Promote the Development of the Cryptocurrency Industry
Coin Center Research Director Peter Van Valkenburgh expects that a clearer regulatory framework may emerge for centralized markets and stablecoin issuers. This optimism stems from the new government's potential focus on fostering innovation in traditional financial applications of cryptocurrencies.
At the same time, simplified investor protection and regulatory transparency may promote the development of the cryptocurrency industry. However, he stressed the need to remain vigilant to ensure that these measures do not inadvertently stifle the rights of developers and users in decentralized systems.
▌French Users Banned from Accessing Polymarket Prediction Market
Polymarket has blocked French users and warned against attempting to circumvent the block. According to a social media post, Polymarket has now added French users to its restricted user list. There are reports that French users can no longer access Polymarket, following an announcement by the country's gambling regulator that prediction markets would be banned. However, some French Polymarket users on the social media platform X claim they are still accessing the prediction market through virtual private network (VPN) applications.
Blockchain Applications
▌The Times Discusses Whether Pensions Should Invest in Bit
According to Bit News, a plan in the UK will allocate 3% of pension funds to Bit, but many argue that Bit's volatility is too high for pension funds, while others believe Bit is "digital gold" worth investing in.
Based on the above reasons, The Times has published an article discussing whether pensions should invest in Bit.
Cryptocurrencies
▌Bit ETF Sets New Record in Brazil
As the Bit price approaches $100,000, the demand and price of Bit exchange-traded fund (ETF) stocks on the Brazilian stock exchange have surged. The first cryptocurrency ETF launched on B3, Hashdex, has reached a new all-time high, with a net asset value close to $689 million. BITH11, the ETF provided by Hashdex, offers 100% Bit exposure and has reached a new high, with a net asset value close to $259 million. Every ETF containing Bit has set a new record high, except for seven that focus on ETH and other areas of cryptocurrencies, such as decentralized finance, Non-Fungible Tokens (NFTs), and Web3.
▌Analyst: Long-Term BTC Holders Show Increasing Greed
According to crypto analyst Ali (@ali_charts), long-term BTC holders are showing increasing signs of greed, which historically indicates that BTC may take 8-11 months to reach a market peak. If the trend continues, a potential peak may be seen between June and September 2025.
▌WBTC Supply on Ethereum Reduced by 5,844 in a Week
On November 16, the WBTC supply on Ethereum was 146,734. By November 24, this number had decreased to 140,890 WBTC, a reduction of 5,844. More interestingly, the Ethereum transaction monitor btcparser.com flagged a 5,182.34 WBTC burn transaction. The operator of btcparser.com stated, "Such a large amount of WBTC flowing on the Ethereum chain is very rare. Interestingly, this time they seem to have been burned."
▌SAND Breaks $0.8, 24-Hour Increase of 81.2%
The market shows that SAND has broken through $0.8, currently trading at $0.7898, with a 24-hour increase of 81.2%. The market fluctuates greatly, please manage the risks.
▌$317 Million in Liquidations Across the Network in the Past 12 Hours, Mainly Long Positions
Data shows that $317 million in liquidations occurred across the network in the past 12 hours, with $227 million in long position liquidations and $89.52 million in short position liquidations. BTC had $65.56 million in liquidations, and ETH had $21.48 million in liquidations.
Important Economic Dynamics
▌Real Vision Founder: Incoming Treasury Secretary Scott Bessent Favors Using a Weak Dollar and Low Oil Prices to Drive US and Global Economic Growth
Raoul Pal, former Goldman Sachs executive and founder of the macroeconomic research firm Real Vision, posted on a social media platform that "incoming Treasury Secretary Scott Bessent favors using a weak dollar and low oil prices to drive US and global economic growth. That's all you need to know. It will drive financial conditions. Scott has your back. I've known him for over a decade, and he gets it."
▌52.7% Probability of a 25-Basis-Point Rate Cut by the Fed in December
According to the CME "Fed Watch": the probability of the Fed maintaining the current rate in December is 47.3%, the probability of a cumulative 25-basis-point rate cut is 52.7%. The probability of maintaining the current rate in January 2023 is 37.2%, the probability of a cumulative 25-basis-point rate cut is 51.6%, and the probability of a cumulative 50-basis-point rate cut is 11.3%.
Jinse Encyclopedia
An airdrop is like a surprise gift of cryptocurrencies. Imagine opening a box and finding coins inside! This is similar to receiving a notification from a new blockchain project about free tokens or coins. Crypto airdrops involve the free distribution of digital assets to users' wallets or as an exchange for completing simple tasks, such as following the project on social media or joining their online community.
Airdrops play a crucial role in the crypto ecosystem. New projects use airdrops as a marketing strategy to increase awareness and build a user base. They are like free samples in a supermarket, attracting users to try new products. From the user's perspective, airdrops provide an opportunity to obtain new cryptocurrencies with minimal effort, potentially leading to significant gains. These tokens are not just freebies, but a way to participate in the evolving digital economy.
Disclaimer: Jinse Finance, as a Bit and Block information platform, the content of the articles published is for reference only and does not constitute actual investment advice. Please everyone establish the correct investment concept, and must improve risk awareness.
