- Both MicroStrategy and El Salvador have begun to make profits; Bitcoin has national strategic importance (December 5)
headlines
The total market value of cryptocurrency exceeded US$1.6 trillion, with BTC accounting for 50.4%
According to Coingecko data, the current total cryptocurrency market capitalization is $1.61 trillion, up 3.7% in the past 24 hours. As of now, the total market value of BTC is US$811.4 billion, accounting for 50.4% of all cryptocurrencies.
Market changes
Bitcoin perpetual futures open interest reaches yearly high on Deribit exchange
Open interest in Bitcoin perpetual futures on the Deribit derivatives exchange has reached a yearly high of $740 million, a level not seen since Bitcoin reached an all-time high of over $68,000 in November 2021 Pass.
An increase in open interest indicates that new money is entering the market, indicating growth in market participation and underlying liquidity. (The Block)
BIGTIME broke through 0.9 USDT this morning and then fell back, with a 24 H increase of 71.20%
Ouyi OKX market shows that BIGTIME broke through 0.9 USDT early this morning and then fell back, reaching a maximum of 0.9459 USDT; it is now trading at 0.8103 USDT, with a 24 H increase of 71.20%.
IOTX broke through 0.048 USDT in the short term and then fell back, with a 24 H increase of 54.13%
Bitget market data shows that IOTX broke through 0.048 USDT in the short term and then fell back, now trading at 0.044084 USDT, with a 24 H increase of 54.13%.
STX broke through 1.2 USDT in the short term and then fell back, with an increase of 34.67% in 24 H.
Ouyi OKX market shows that STX broke through 1.2 USDT in the short term and then fell back. It is now trading at 1.1650 USDT, with a 24 H increase of 34.67%.
OKX current loan product USDT annual interest rate reaches 30%
Industry News
U.S. Space Force official: Bitcoin has “national strategic importance”
U.S. Space Force official Jason Lowery said Bitcoin has national strategic importance. He stressed that the United States needs to formally investigate the use of proof-of-work networks such as Bitcoin to protect the country from the threat of cyber warfare.
In a letter to the Defense Innovation Board, Lowery noted that Bitcoin is not only a monetary system that protects funds, but also protects all forms of data and command signals. He noted that proof-of-work systems mirror physical security and deterrence strategies in the digital realm and could play a key role in the United States maintaining its status as a global superpower. Lowery also mentioned that Bitcoin has the potential to start a revolution in cybersecurity and transform the country’s national defense security.
MicroStrategy’s BTC holdings have floating profit exceeding US$1.8 billion
MicroStrategy’s Bitcoin holdings have exceeded $1.8 billion in floating profit.
Historical data shows that MicroStrategy currently holds 174,530 Bitcoins at an average purchase price of $30,252 per coin.
El Salvador President Nayib Bukele posted on the
Bukele stated that it has no intention to sell BTC and is fully aware that prices will continue to fluctuate in the future, but this does not affect its long-term holding strategy.
Ordinal-related transactions generated approximately $38.7 million for BTC miners in November
Data released by Blockworks Research shows that a record 8.34 million Ordinal-related transactions occurred in November, generating approximately $38.7 million in revenue for BTC miners.
BlackRock Chief Investment Officer Rick Rieder: The Fed’s rate hike cycle is over
According to CNBC: BlackRock Chief Investment Officer Rick Rieder said the Fed’s rate hike cycle is over.
ETF Progress
Bloomberg ETF analyst James Seyffart posted on the X platform that BlackRock has submitted the second revised S-1 document (prospectus) for its Bitcoin Spot ETF (iShares Bitcoin Trust) application to the US SEC. Bitwise has previously submitted a second revised S-1 filing.
James Seyffart said the SEC apparently issued the same or very similar instructions to multiple issuers. Both the SEC and these issuers are working to resolve the issues. These documents are likely the result of many conversations and a lot of work on both sides.
It is reported that BlackRock added content in its latest submission that the trust manager will take measures to monitor abnormal price changes, also added wording on anti-money laundering compliance, and included an audit report from PricewaterhouseCoopers. (The Block)
Eric Balchunas, a senior ETF analyst at Bloomberg, posted on the X platform that the most important thing everyone is discussing is whether the SEC will allow physical subscription mechanisms. There are rumors that the first group will only allow cash subscription mechanisms. Many issuers are ready for both (if BlackRock wins the SECs backing, many will do so in-kind as well. If not, they will use a cash subscription mechanism). Additionally, another big unknown is whether Grayscale GBTC will be allowed to be among the first to be converted into ETFs, no one really knows anything or has any information about that.
Project News
Argus Labs founder: Dark Forest reboot has nothing to do with original Dark Forest
Argus Labs founder Scott Sunarto said that the Dark Forest (X platform ID is @PlayDarkForest) launched by Argus Labs is an independent restart project and has nothing to do with the 0x PARC team’s Dark Forest (X platform ID is @darkforest_eth).
ZachXBT: MEV Engineer PokerBrat Suspected of Fraudulent Fundraising of At least $1.2 Million
On-chain detective ZachXBT posted on the will be put into use. But after initially agreeing to return funds due to numerous launch delays, PokerBrat came up with various excuses, including coronavirus infection, health issues, exchange issues, extortion and family issues.
According to ZachXBT, PokerBrat pleaded guilty in 2002 after defrauding investors of $4 million, which was used to buy cars and gamble, and was sentenced to 3 years for fraud in 2007 after stealing funds from more than 10 victims in Colorado. imprisonment.
Taiko launches second phase of $30M Grants program
Taiko, the second-layer Ethereum network based on zkRollup, announced the launch of Taiko Grants Cycle 2, with a total grant pool of US$30 million. Taiko Grants Cycle 2 includes three major tracks: community, partners, and request for proposals (RFP).
The community track is for early-stage projects that plan to build on Taiko, are doing so, or have already deployed. Applications are open from now until January 15, 2024.
The Partner Track is for mature projects or service providers that are already online and want to integrate, support, or deploy on Taiko, and will be an ongoing direction, and applications will remain open after the Cycle 2 program ends.
Binance’s new CEO Richard Teng recently held an AMA on the X platform. Regarding the recent fines, Teng said that Binance’s financial position is sound and these fines will not affect the company’s development. Binance will continue to maintain high standards for the listing of new projects, focusing on compliance and community participation. He also proposed three priorities that he will focus on: First, continue to drive the development of the business and ecosystem as a user-centric organization. Second, as the crypto space will face more regulation, he promised to push for regulatory clarity to promote the development of the entire industry. Third, work with partners to promote the application and popularity of cryptocurrency. He also talked about how cryptocurrencies are changing people’s lives globally, especially in developing and frontier economies, by providing low-cost financial services.
Investment and Financing
UAE fintech startup Flow 48 has announced a $25 million Series A funding round with participation from Blockchain Founders Fund, Speedinvest, Daphni, 212, Unpopular Ventures, Endeavor Catalyst, TLG and a number of angel investors. Flow 48 provides data-driven real-time financial technology solutions and helps small and medium-sized enterprises pay attention to ESG principles. Investors may provide support in the advanced financial technology ecosystem. Blockchain Founders Funds investment portfolio includes Web3 API platform Uniblock, Web3 Domain name and TLD provider Freename, privacy protection protocol zkPas, etc. (Fintech futures)
Endless Clouds, the developer of blockchain game Treeverse, completed US$2.5 million in strategic financing, with founders and executives from Animoca Brands, Sky Mavis, YGG, Faze Clan, Immutable, Pudgy Penguins, Pixelmon, Pixels Online, Pixel Vault and other companies participating in the investment.
Endless Clouds will use this round of financing to continue developing the MMORPG games Treeverse and Capsule Heroes and build game IP-related content.
Fantom Foundation launches Sonic Labs startup accelerator program
The Fantom Foundation announced the launch of the Sonic Labs startup accelerator program, designed to promote innovation within Fantoms new Sonic technology stack and provide resources and support for the next generation of Web3 entrepreneurs.
The program will select up to five projects and provide financial support of 1 million FTM (approximately $294, 000) per project, as well as technical support, co-marketing and mentorship.
