According to Odaily Planet Daily, Galaxy Digital's Head of Research, Alex Thorn, stated in an interview with CNBC that while there was strong optimism surrounding Bitcoin at the beginning of the year, attention has been somewhat diverted as investors have shifted their focus to areas such as AI, nuclear energy, quantum technology, and gold. He emphasized that "attention will come back to Bitcoin, it always does," and believes Bitcoin is entering a more mature era. Thorn remains bullish on Bitcoin in the long term but has lowered Galaxy Digital's year-end price target from $185,000 to $120,000. He also mentioned that recent analysis from JPMorgan analysts suggests that increased volatility in gold makes Bitcoin relatively more attractive. (Cointelegraph)
Odaily Planet Daily reports that Rails, the on-chain perpetual contract platform, announced on the X platform that the second phase of its points program is now live, with 300,000 Rails points awarded to users every week.
Previously, Rails announced in early June that it had completed a $14 million funding round, led by Slow Ventures.
1. The "top ZEC long" reduced his holdings by over 10,000 ZEC tokens;
2. Re7 Labs releases report on xUSD de-pegging incident: They are communicating with external partners and legal counsel to develop a response strategy;
3. The "whale" that held onto losing positions suffered a loss of nearly $39.75 million in a single week, and its win rate has dropped to 69.57%.
4. Analysis: OG Bitcoin whales are accelerating their BTC sell-off.
According to data from Hyperbot, as reported by Odaily Planet Daily, the "Whale with a 100% win rate" closed all its Bitcoin long positions six hours ago, resulting in a weekly loss of approximately $39.749 million. Simultaneously, its win rate also dropped significantly, with 7 out of 23 trades resulting in losses (all this week), bringing its overall win rate down to 69.57%.
Odaily Planet Daily reports that SOON today launched its first prediction experiment product based on the x402 protocol. Players can use USDC to predict market trends for 10 seconds, and those who make correct predictions will receive SOON rewards.
Within just 3 hours of its launch, SOON achieved a cumulative transaction volume exceeding 100,000 transactions, immediately becoming the No. 1 project on the x402 platform, with all initial quotas fully subscribed.
SOON stated that it will continue to launch more predictive experiments and interactive activities based on x402 in the future.
Odaily Planet Daily reports that Re7 Labs stated on its X platform that it has taken measures to resolve and mitigate issues in multiple markets, including xUSD, deUSD, sdeUSD, sUSDX, and USDX. A recap of the events was also provided.
1. Stream (xUSD): In early October, Re7 Labs discovered that Stream was using its xUSD token as collateral to borrow USDT0. Despite assurances from Stream's CEO that the position was stable, the outstanding position subsequently began generating high borrowing rates. On October 29th, Re7 Labs contacted Stream again, and Stream subsequently repaid a portion of the loan. To prevent further risk, Re7 Labs has removed all funds from the xUSD market and halted new deposits in that market.
2. Elixir (deUSD and sdeUSD): On October 21, Elixir requested an allocation of $6 million to $7 million in the Re7 Labs Euler Earn USDT0 vault. The funds were subsequently lent out, resulting in 100% market utilization for both sdeUSD and deUSD. On October 27, Re7 Labs discovered the borrower's connection to Stream and began reducing its exposure to Stream and Elixir. By November 6, all borrowed positions on Plume using sdeUSD as collateral had been fully repaid. The total impact of Elixir was approximately $13.974 million.
3. Stable Labs (USDx and SUSDx): On November 4th, Re7 Labs detected transfers from accounts associated with the largest holders of sUSDX and USDX to Binance, while lending rates surged. After unsuccessful communication with Stable Labs CEO Flex, Re7 Labs implemented protective measures such as lowering the supply cap and adjusting risk parameters. On November 6th, Lista proposed liquidating the malicious positions through a DAO, preventing approximately $3 million to $4 million in bad debt. The total impact caused by Stable Labs was approximately $13.114 million.
Re7 Labs stated that it is currently communicating with external partners and legal counsel, and seeking detailed legal advice to develop a response strategy.
According to data from Hyperbot, Odaily Planet Daily reports that the "top ZEC long" holder has reduced his holdings by 3,500 ZEC tokens, bringing his total holdings down to 41,500 tokens. ZEC is currently trading at 539 USDT.
As previously reported by Odaily, one hour ago, the "top ZEC bull" reduced his ZEC holdings for the first time today, reducing his holdings by a total of 10,000 ZEC.
Odaily Planet Daily reports that the crypto lending protocol Euler announced on the X platform that the Euler DAO Treasury will be migrating to a new multi-signature address. This is because the current Treasury multi-signature address plays a dual role in holding DAO funds and executing protocol governance, and there are operational risks if it is not separated. The new multi-signature address has reportedly been created, and assets in the existing Treasury multi-signature address will be transferred to the new address, excluding protocol revenue, which will be temporarily retained for easier tracking during the transition. The new Treasury multi-signature address will be dedicated to asset management and allocation.
According to data from Polymarket, as reported by Odaily Planet Daily, the trading volume for the League of Legends T1 vs KT finals exceeded $4.4 million at 3 PM today, with T1 having a 65% chance of winning in the best-of-five series.
According to data from Hyperbot, as reported by Odaily Planet Daily, the "top ZEC bull" has begun reducing his ZEC holdings again. As of the time of writing, he holds 49,000 ZEC tokens, worth $26 million, with a floating profit of approximately $1 million.
Previously, this "whale" held a maximum of 55,000 ZEC tokens, and its unprofitable peak was as high as $12 million.
According to Odaily Planet Daily, Charles Edwards, founder of Capriole Investments, posted on the X platform that OG Bitcoin holders who have held BTC for over 7 years are cashing out. The chart for 2025 is heavily colored, with orange lines representing $100 million in sell-offs and red lines representing $500 million, indicating that OG whales are cashing out and leaving the market on a large scale.
1. Hourglass: KYC verification is now open for Phase 2 of the Stable Pre-Deposit Program;
2. A whale accurately bought 20,800 ZEC tokens at the bottom, and is currently making a profit of $1.51 million.
3. The fraud case involving "profiting $25 million in 12 seconds using a MEV attack" ended in a mistrial due to disputes over the applicability of the law;
4. Italian Banking Association: Supports the digital euro plan, but demands that the initial investment costs be shared;
5. Pakistan is considering issuing a rupee-backed stablecoin;
6. The University of Michigan Consumer Sentiment Index fell to 50.3 in November, the second lowest on record.
According to Odaily Planet Daily, based on monitoring by on-chain analyst Yu Jin, a whale (0x6ef9a...3abf) bought 20,800 ZEC tokens at $509.50 each eight hours ago, worth $12.12 million, and is currently showing a floating profit of $1.51 million. The price of ZEC briefly surged above $750 before pulling back to $488, and is currently trading at $600.
According to Odaily Planet Daily, Hourglass posted on the X platform that the second phase of the Stable pre-deposit program has now opened for KYC verification, and more than 24,000 wallets (with a total deposit of approximately $1.74 billion) have successfully passed the initial wallet screening.
According to Odaily Planet Daily, two brothers, Anton Peraire-Bueno and James Peraire-Bueno, both graduates of MIT, are accused of orchestrating a $25 million "scam" on Ethereum, profiting $25 million in 12 seconds using a MEV-Boost attack.
The four-week trial ended in a mistrial in Manhattan federal court due to a deadlock among the jury. The jury stated that they could not agree on how to apply existing laws in the case.
Peter Van Valkenburgh, executive director of the cryptocurrency advocacy group Coin Center, submitted an amicus brief in support of the defendants and called the prosecutor's indictment a "massive overreach" after the trial. Although the trial ended in a mistrial, the two brothers still face three charges: conspiracy to commit wire fraud, wire fraud, and conspiracy to launder money. The prosecutor has the option to dismiss the case or order a retrial. (The Block)
Odaily Planet Daily reports that Marco Elio Rottigni, General Manager of the Italian Banking Association (ABI), stated at a press conference that Italian banks support the European Central Bank's (ECB) plan to introduce a digital euro (CBDC), believing it "embodies the concept of digital sovereignty." The ECB currently anticipates the project's launch in 2029. However, the ABI is requesting that the banks' required upfront capital expenditures be spread over a longer period to address the high costs. Rottigni also stated that to avoid Europe falling behind in this area, they favor a "dual approach" of central bank digital currencies and commercial bank digital currencies operating in parallel. (The Block)
