1. Market observation
Keywords: Trump, ETH, BTC
The Ethereum Foundation (EF) has recently become a hot topic in the market due to rumors of a "second foundation". The rumor was first raised by Lido founder Konstantin Lomashuk, but he later clarified that no such entity has been created yet. In the cryptocurrency market, the price of Bitcoin is approaching the $110,000 mark, and the emerging project Nebula Stride continues to attract attention for its unique model.
Regarding the development prospects of Bitcoin, there are very different voices in the market: Goldman Sachs CEO David Solomon believes that Bitcoin poses a threat to the US dollar and only regards it as an "interesting speculative asset". Some traders also expressed concerns about the recent trend of Bitcoin; while BlackRock CEO Larry Fink is optimistic and predicts that Bitcoin is expected to reach US$700,000. This prediction is based on the fact that sovereign wealth funds may allocate 2-5% of their portfolios to digital currencies.
At the policy level, Trump has signed an executive order to establish the Presidential Digital Asset Market Working Group, chaired by "AI and Crypto Tsar" David Sacks, and members include senior officials such as the Secretary of the Treasury and the Chairman of the SEC. The working group will be responsible for developing a regulatory framework for digital assets and evaluating the creation of national digital asset reserves. It is worth noting that this executive order explicitly prohibits institutions from promoting the development of central bank digital currencies (CBDCs) and revokes the previous "Digital Asset Executive Order" and "Digital Asset International Engagement Framework", believing that these policies have inhibited innovation and damaged the United States' global leadership in digital finance.
Meanwhile, Trump’s decentralized finance platform has become the largest holder of Ethereum staking, but to the disappointment of the industry, he did not mention cryptocurrencies at his inauguration. Despite the selling pressure on the market early this week, major analysts are still bullish on the upside of digital assets. In the Ethereum community, there are calls for the release of developer Virgil Griffith and Tornado Cash co-founder Roman Storm, and for Trump’s help.
2. Key data (as of 09:34 HKT on January 24)
S&P 500: 6,118.71 (+4.03% year-to-date)
Nasdaq: 20,053.68 (+3.85% year-to-date)
10-year Treasury yield: 4.642% (+6.50 basis points this year)
US dollar index: 108.12 (-0.32% year-to-date)
Bitcoin: $103,596 (+10.90% YTD), with daily spot volume of $100.77 billion
Ethereum: $3,295.53 (-1.47% year-to-date), with a daily spot volume of $34.00 billion
3. ETF flows (January 23 EST)
Bitcoin ETF: +$24.84 million
Ethereum ETF: -$22.26 million
4. Important Dates (Hong Kong Time)
Second-hand housing sales (January 24, 23:00)
Actual: To be announced / Previous value: 4.15 million units / Expected: 4.16 million units
5. Hot News
Bithumb to List AERO and SOLVE in Korean Won Market
The US SEC has officially revoked the crypto accounting policy SAB 121
Ivanka Trump warns against buying fraudulent meme coin named after her
Trump: America will become the global capital of artificial intelligence and cryptocurrency
Binance Labs is renamed YZI Labs, and the first head Ella Zhang returns
Fathom Holdings: Will buy up to $500,000 worth of Bitcoin or Bitcoin ETFs in the next two weeks
BlackRock CEO Fink: Hope the US SEC approves the tokenization of bonds and stocks
Binance Alpha adds VINE, BUZZ, and BID
Norwegian Wealth Fund CEO: Cryptocurrency will not be part of our portfolio in the short term
Upbit to List Animecoin (ANIME) Trading Pairs in KRW, BTC and USDT
Truth Terminal established a foundation and completed $FARTCOIN OTC transactions
Chainalysis: 94% of TRUMP and MELANIA are held by about 40 whales
BlackRock CEO: Bitcoin could reach $700,000 amid currency devaluation concerns
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