6,500 BTC Transfer... Anonymous → Kraken
According to Whale Alert, 6,500 BTC was transferred from an anonymous address to a Kraken address. The amount is worth $680 million.
ETH Spot ETF Sees $126.5 Billion Net Inflow
According to Perseid Investor, on the 29th (local time), $91.9 million ($126.5 billion) was net inflows into the US Ethereum (ETH) spot ETF. This marks the 9th consecutive day of net inflows. BlackRock ETHA received $50.4 million, Fidelity FETH received $38.3 million, and Bitwise ETHW received $4.6 million. Grayscale ETHE saw $4.6 million in net outflows.
Analysis: "Daily Average New Fund Inflow Close to Previous Bull Market Peak"
An analysis suggests that Bitcoin demand is approaching the peak of the previous bull market. Crypto Quant analyst Axel Adler Junior said on X, "Currently, about $1.8 billion of new funds are entering the market daily. This is similar to the level when BTC price reached $64,000 in November 2021. The largest fund inflows in this cycle occurred in the $73,000 (3.6 billion) and $92,000 (4.5 billion) ranges. This means investors are still willing to inject massive funds into the market even after BTC sets new highs."
People Power Party: "We'll Also Challenge Stablecoin, Like the US"
According to IT Chosun, the People Power Party again emphasized dismantling the '1 Exchange 1 Bank' principle applied to cryptocurrency exchanges. They also stressed a shift in perception, saying virtual assets should be accepted as part of economic activity, including allowing spot ETFs, experimenting with stablecoins, and legalizing token securities (STO). Regarding taxation, they stated, "Virtual assets should follow free market economic principles, and income generated should be subject to an appropriate tax system. Currently, in the early stages of the industry, we should focus on nurturing, and as it matures, move towards a system that contributes to society through adjusted taxation."
Court Rejects WEMIX Delisting Suspension Request
The 50th Civil Division of the Seoul Central District Court rejected WEMIX's request to suspend the delisting decision by domestic exchanges. Upbit, Bithumb, Coinone, Korbit, and Gopax had delisted WEMIX on the 2nd. WEMIX had filed a provisional injunction to suspend the delisting.
WEMIX Team: "Disappointed but Respecting Court's Decision"
The WEMIX team stated, "We deeply regret the result of this provisional injunction but respect the court's decision." They added, "We will proceed with our scheduled business and share plans for the rapid growth of the WEMIX ecosystem as soon as possible."
US Treasury Freezes USDT for Philippine Company
According to cryptocurrency tracking platform MistTrack, Tether and Circle froze 19,800 USDT from two addresses related to Philippine tech company Funnel Technology. Previously, the US Treasury's Office of Foreign Assets Control (OFAC) had sanctioned Funnel Technology for providing infrastructure services to thousands of cryptocurrency scam websites.
MemeCore Pursues KOSDAQ-Listed Company Acquisition for Korean Market Entry
Global meme coin-focused Layer 1 project MemeCore announced on the 29th (local time) that it is pursuing the acquisition of a KOSDAQ-listed company to fully enter the Korean market. By acquiring a KOSDAQ-listed company, they plan to proceed with VASP registration and obtain ISMS certification while establishing a strategic foothold for creating a domestic decentralized application (dApp) ecosystem based on their mainnet. The target company is expected to change its business sector to pursue Web3 and digital asset-related businesses. MemeCore is currently conducting due diligence and negotiations with multiple listed companies and plans to sequentially introduce community-based dApps and MRC20 token services in Korea after the acquisition.
Analysis: "BTC Adjusting, but No Panic Selling"
Although Bitcoin dropped from $109,000 to $104,700 after facing resistance, cryptocurrency data analysis firm Swissblock analyzed that there is no significant profit-taking movement. Swissblock explained, "Overall, selling pressure is controlled, with no panic selling or large-scale selling. The absence of selling pressure means reduced downside risk."
Analysis: "Current BTC Bull Market More Robust Than Previous Ones"
CoinDesk analyst Omkar Godbole analyzed that the current BTC bull market is more robust compared to previous ones. He stated, "According to Glassnode data, BTC's 3-month realized volatility is below 50%, significantly lower than the 80-100% in previous bull markets. 30-day implied volatility is also declining. This is due to sufficient liquidity as market cap exceeds $2 trillion and increased institutional investor inflows." He added, "In previous bull markets, prices would spike and then often drop over 30%, but this upward market shows a step-like price increase. Most declines are under 25%."
Analysis: "ETH Spot ETF Investors Average 21% Loss"
On-chain analysis firm Glassnode reported that BlackRock and Fidelity Ethereum (ETH) spot ETF investors are currently averaging a 21% loss. Glassnode's recent report noted, "BlackRock ETHA's average ETH purchase price is estimated at $3,300, and Fidelity FETH's at $3,500, indicating investors entered at the peak since the spot ETF listing in July last year. ETF fund outflows tend to accelerate when ETH falls below these average purchase prices. While recent net inflows continue, the spot ETF's impact on ETH price remains limited."
ETH Falls Below $105,000
According to Coinness market monitoring, BTC has fallen below $105,000. Based on the Binance USDT market, BTC is trading at $104,936.63.
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