Headline

▌Source: Trump Plans to Issue Executive Order to Make Cryptocurrency a National Policy Priority

Sources reveal that U.S. President-elect Trump plans to issue an executive order to elevate cryptocurrency as a national policy priority. The executive order is expected to position cryptocurrency as a "matter of national importance," aiming to guide government agencies and the industry to collaborate, and establish a cryptocurrency advisory council to advocate for industry policies.

▌Litecoin ETF May Become the First Altcoin ETF in 2025

Bloomberg senior ETF analyst Eric Balchunas posted on social media that "the Litecoin ETF has met all the requirements, and the countdown to the first Altcoin ETF in 2025 has begun. I don't see any reason for the application to be withdrawn, especially with the SEC having commented on the S-1 filing, Litecoin being viewed as a commodity, and the SEC having new leadership."

Previously reported, Nasdaq has filed a 19B-4 application for the Canary Litecoin ETF, initiating the regulatory review process.

Market

As of the time of writing, according to Coingecko data:

BTC last traded at $100,306, with a daily change of +0.0%;

ETH last traded at $100,306, with a daily change of -3.5%;

BNB last traded at $710.64, with a daily change of -0.2%;

SOL last traded at $211.23, with a daily change of +3.3%;

Doge last traded at $0.3777, with a daily change of -0.8%;

XRP last traded at $3.28, with a daily change of +6.8%.

Policy

▌The U.S. Supreme Court May Rule on the TikTok Case on Friday

The U.S. Supreme Court has hinted that it may rule on the "sell or ban" TikTok ban order on Friday (January 17). On January 16, local time, the Supreme Court posted a notice on its website stating that the court "may issue opinions" at 10 a.m. Eastern Time (11 p.m. Beijing time) on Friday, but did not specify which cases it would rule on. The TikTok ban was originally scheduled to take effect on Sunday (January 19). (Jinse Finance)

Blockchain Applications

▌Multicoin Submits "Smart Issuance" Proposal for Solana, Proposing to Adjust the SOL Issuance Rate to a Market-Based Solution

Multicoin Capital is one of the early investors in Solana, and now it is trying to change the inflation mechanism of the Solana network. Multicoin Capital partners Tushar Jain and Vishal Kankani have submitted a "Smart Issuance" proposal for Solana, proposing to adjust the issuance of SOL from the current fixed schedule to a market-based solution.

Multicoin's proposal may reduce the inflation of SOL. In Solana terminology, inflation refers to the network issuing SOL to the validators running the Solana software and helping to build the blockchain. The validators then pass on these issued SOL as well as some MEV (Miner Extractable Value) rewards to the stakers who have delegated SOL to them.

Cryptocurrencies

▌TRM Labs: Illicit On-Chain Transactions to Decline 24% to $45 Billion by 2024, TRON Remains a Major Blockchain for Illicit Activities

Blockchain intelligence firm TRM Labs found that illicit on-chain cryptocurrency transactions will decline 24% to $45 billion by 2024, accounting for only 0.4% of total crypto transactions. Although the total transaction volume grew 56% to $106 trillion last year, law enforcement and industry collaboration efforts have effectively curbed illicit activities. TRON saw a significant decline in illicit transactions, with a $6 billion reduction in illicit transaction volume, nearly halving its share, thanks to its collaboration with Tether and TRM Labs to establish the T3 Financial Crime Unit. However, TRON remains a major blockchain for illicit activities, accounting for 58% of total illicit transaction volume, attracting bad actors with low transaction fees and popular stablecoins. The report also shows that sanctions violations account for a third of illicit transactions, fraud and scams account for a quarter, with fraud-related inflows down 40% year-over-year. Meanwhile, ransomware attacks and terrorist financing have increased, particularly those carried out by hackers from North Korea and Russia.

▌Opinion: The Idea of the U.S. Purchasing Altcoins as a Strategic Reserve is Absurd and Will Never Happen

Lekker Capital founder Quinn Thompson said the idea of the U.S. purchasing Altcoins as a strategic reserve is absurd and will never happen. Previously, the New York Post reported that Trump "embraced" the idea of creating a token reserve including SOL, XRP, and Circle's USDC as part of an "America First" strategic reserve.

Quinn Thompson explained, "The government has no authority to gamble venture capital on Altcoins. The rumor about setting up strategic reserves for non-BTC currencies is another example of people turning a bad idea into a fact."

▌Bloomberg Analyst: SEC Approval of Solana or XRP ETF is Just a "Matter of Time"

Bloomberg analyst James Seyffart posted on X platform that "I think SEC approval of a Solana or XRP ETF is just a matter of time, not a matter of 'if,' but the Litecoin ETF may be the first to get approved - mainly because the SEC hasn't accused Litecoin of being a security."

▌Arkham: Current Coverage of MicroStrategy's Bitcoin Holdings Addresses Reaches 96%

Blockchain intelligence platform Arkham posted on X platform that it has identified an additional $2.5 billion in Bitcoin addresses held by MicroStrategy, bringing the coverage of the company's Bitcoin holdings to 96%, becoming the first institution to publicly disclose these on-chain holdings. The identified addresses include over 118,000 BTC received from Anchorage Digital and over 130,000 BTC received from Coinbase Prime.

Arkham has now tagged 4.377 million BTC held by MicroStrategy, accounting for 96% of its total BTC holdings (including assets custodied at Fidelity Digital).

▌Bloomberg Analyst: Solana ETF May Not Be Approved in the U.S. Until 2026

Bloomberg industry research analyst James Seyffart said in an interview that even with a crypto-friendly White House, a Solana ETF may not be launched in the U.S. until 2026.

He stated that after President-elect Donald Trump takes office on January 20, issuers "may see" an improvement in the backlog of Solana ETF applications. However, with the SEC previously taking 240-260 days to review filings, this timeline may be extended to 2026.

Additionally, the SEC is currently suing crypto exchanges, alleging that SOL constitutes an unregistered security, which complicates the review process. Seyffart said, "The SEC Enforcement Division calling Solana a security makes it harder for other parts of the SEC to review it as a commodity ETF."

▌Arkham: A Whale Deposited Over $100 Million in Bitcoin to Coinbase Prime

According to Arkham monitoring data, about 8 hours ago, an address holding over $2.7 billion in Bitcoin (bc1qe....j6tzuy) deposited $105 million in Bitcoin to Coinbase Prime. The address received most of its Bitcoin between September 9-11, 2024, when the Bitcoin price was between $54,000 and $57,000.

Key Economic Dynamics

▌97.3% Probability of Fed Keeping Rates Unchanged in January

According to the CME "Fed Watch", the probability of the Fed keeping rates unchanged in January is 97.3%, and the probability of a 25 basis point rate cut is 2.7%. By March, the probability of maintaining the current rate is 70.1%, the probability of a cumulative 25 basis point rate cut is 29.2%, and the probability of a cumulative 50 basis point rate cut is 0.7%.

▌UBS: The Slow and Steady Bond Selloff May Continue

Bhanu Baweja, a strategist at UBS Group, and others said that the US bond selloff since September has had a "slow and steady" characteristic, which "should worry bond bulls." "Volatility remains low, and while there are concerns, there is no panic," they wrote in the report. They warned that the "slow oscillation characteristic of the selloff may mean it could continue."

▌The market expects a 90% probability of a rate hike by the Bank of Japan in January, which could disrupt the upward trend of cryptocurrencies

Investors are focusing on Trump's inauguration on January 20, which could be a key catalyst for Bitcoin and cryptocurrency prices. However, on January 24, the Bank of Japan is likely to raise interest rates. According to an analysis shared by analyst Michael Kramer on the X platform, the market currently expects a 90% probability of a rate hike on January 24. Previously, the Bank of Japan's rate hike caused turmoil in traditional assets and digital asset markets. This was a key catalyst for the reversal of the yen carry trade in early August, leading to Bitcoin plunging to $49,000. Traders may be preparing for another selloff.

▌The US dollar index fell 0.12% on the 16th

The US dollar index, which measures the dollar against six major currencies, fell 0.12% that day, closing at 108.955 in the foreign exchange market. As of the close of the New York foreign exchange market, 1 euro was exchanged for $1.0302, higher than the previous trading day's $1.0293; 1 pound was exchanged for $1.2235, higher than the previous trading day's $1.2231. 1 dollar was exchanged for 155.29 yen, lower than the previous trading day's 156.46 yen; 1 dollar was exchanged for 0.9109 Swiss francs, lower than the previous trading day's 0.9127 Swiss francs; 1 dollar was exchanged for 1.4396 Canadian dollars, higher than the previous trading day's 1.4329 Canadian dollars; 1 dollar was exchanged for 11.1466 Swedish kronor, lower than the previous trading day's 11.1543 Swedish kronor.

Jinse Finance

▌What is a Sybil attack in crypto?

In the Altcoin environment, Sybil attacks often target the decentralized nature of blockchain platforms. Even if they do not target the cryptographic algorithms of Altcoins, disrupting the underlying peer-to-peer network infrastructure that Altcoins rely on can lead to service interruptions, fund losses, and a decline in user trust. Attackers can focus on specific nodes or servers to interfere with the consensus process, transaction verification, or node-to-node communication. This can lead to network fragmentation, processing delays, or even a complete shutdown.

Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for information reference only and do not constitute actual investment advice. Please everyone establish the correct investment concept and improve risk awareness.