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Bitcoin (BTC) Surpasses $110,000 with a 4.10% Increase in 24 Hours
Bitcoin (BTC) crossed the $110,000 benchmark and is now trading at $111,196, with a 4.11% increase in 24 hours.
Ethereum(ETH) Surpasses $4,000 with a 4.65% Increase in 24 Hours
Ethereum has crossed the $4,000 benchmark and is now trading at $4,073, with a 4.65% increase in 24 hours.
Chinese Tech Giants Pause Stablecoin Plans After Beijing Steps in, FT Reports
Chinese tech giants, including Alibaba-backed Ant Group and e-commerce group JD.com, have paused plans to issue stablecoins in Hong Kong after the government raised concerns about the rise of currencies controlled by the private sector, the Financial Times reported on Saturday.
Companies have put their stablecoin ambitions on hold after receiving instructions from Chinese regulators, including the People’s Bank of China and Cyberspace Administration of China, not to move ahead with the plans, the FT reported, citing people familiar with the matter.
A Certain Whale Has Increased Their Long Position to $250 Million, with Overall Unrealized Losses Narrowing to $3.12 Million
BlockBeats News, October 19, according to AI Aunt's monitoring, a certain whale has increased its long positions to $250 million. This round of additional positions is mainly in BTC, while the ETH position remains unchanged. The overall unrealized loss has narrowed to $3.12 million:
BTC 15x long position: holding 1,610.93 coins ($173 million), opening price $108,043.9;
ETH 3x long position: holding 19,894.21 coins ($77.42 million), opening price $4,037.43.
Retail Buyers Lost $17 Billion on Bitcoin Hype After Stock Crash
Retail investors have lost an estimated $17 billion in an attempt to gain Bitcoin exposure through digital asset treasury firms such as Metaplanet and Michael Saylor’s Strategy, according to a new research report. These losses came from an overpricing of share premiums that allowed these companies to sell stock for far above the value of their actual crypto holdings.
Those share prices have now collapsed, leaving a multitude of individual investors holding the bag. 「The age of financial magic is ending for Bitcoin treasury companies,」 analysts at Singapore-based 10X Research wrote in a report released Friday.
Huobi Founder Li Lin Set To Launch $1 Billion Ether Accumulator
Li Lin, the founder of crypto exchange Huobi and chairman of investment firm Avenir Capital, is joining forces with some of Asia’s earliest Ethereum backers to launch a new digital-asset trust that will buy Ether tokens, according to people familiar with the matter.
The group includes Shen Bo, a veteran blockchain investor and co-founder of Fenbushi Capital and Xiao Feng, chairman and Chief Executive Officer of HashKey Group, said the people, who were not authorized to speak publicly. The cohort also includes Meitu Inc. founder Cai Wensheng, who is one China’s most prominent cryptocurrency investors, the people added.
Michael Saylor Hints at Potential Bitcoin Acquisition Update
Michael Saylor recently shared information on the X platform, suggesting that a significant update regarding Bitcoin acquisitions might be forthcoming. He stated, "The most important orange dot is often the next one," implying that Strategy may reveal new data on Bitcoin holdings next week.
BitMine Increases Ethereum Holdings Following Market Downturn
Blockchain monitoring data reveals that BitMine, the Ethereum treasury company led by Tom Lee, has acquired an additional 379,271 ETH, valued at approximately $1.5 billion, since the '10.11 crash' last weekend. Tom Lee, who has previously stated that 'Ethereum will become the backbone of the digital economy,' commented in an interview with CNBC after the close of trading on Friday. He noted that crypto investors are still 'licking their wounds' from the unprecedented leverage impact, but emphasized that the current phase is not the peak of the cycle. Instead, it represents a short-term bottom with efforts underway for recovery.
Tether and Circle Mint Billions in Stablecoins Amid Market Fluctuations
Onchain Lens reports that Tether has minted $1 billion worth of USDT on the Ethereum network. Since the recent market downturn, Tether has created a total of $4 billion in USDT. Concurrently, Circle has minted $2 billion worth of USDC on the Solana network.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF last Friday was $366.59 million. The total net asset value of Bitcoin spot ETFs is $143.93 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.75%.
The Bitcoin spot ETF with the highest net outflow on Oct. 17 was iShares Bitcoin Trust ETF, with a net outflow of $268.61 million. Followed by Fidelity Wise Origin Bitcoin Fund, with a net outflow of 67.37 million, according to SoSoValue.
SoSoValue