Crypto Guides, Knowledge & Insights

CoinShares: Digital Asset Investment Products Saw Inflows of $176 Million Last Week

According to a report from CoinShares, the total inflow of funds into digital asset investment products last week amounted to $176 million, marking the eighth consecutive week of inflows and bringing the total inflow for the year to $1.32 billion.　　Among these products, the proportion of Exchange Traded Products (ETPs) in cryptocurrency investment products is on the rise, averaging 11%, significantly higher than the long-term historical average of 3.4%, and far surpassing the average during the bull market of 2020/21.　　Bitcoin continues to dominate, with an inflow of $155 million, representing 3.4% of the Assets Under Management (AUM) over the past eight weeks.　　Additionally, various altcoins saw inflows, with Solana, Ethereum, and Avalanche receiving $13.6 million, $3.3 million, and $1.8 million, respectively. On the other hand, Uniswap and Polygon experienced minor outflows of $0.55 million and $0.86 million, respectively.　　

2023-11-21Deep Dive

Bernstein: Bitcoin Expected to Become a Global Macro Political Asset, Valued at Over $3 Trillion

Brokerage firm Bernstein stated in a research report on Monday that Bitcoin is expected to become a global macro-political asset, with a market capitalization exceeding $30 trillion, doubling by the mid-2025. Bernstein pointed out that the fundamentals of Bitcoin have never been better, with 70% of the outstanding supply not being traded in the past year. Analysts led by Gautam Chhugani wrote, “This is the highest level in Bitcoins history.”　　

2023-11-21Deep Dive

The Philippines Issues its First $270 Million Tokenized Bonds Targeting Institutional Investors

The Philippines made history on Monday by conducting its inaugural sale of tokenized government bonds, signaling a potential widespread adoption of blockchain technology in the countrys government debt market. According to a statement, the Department of Finance sold 15 billion pesos (approximately $270 million) in debt that will mature in November 2024. These bonds were issued to institutional investors with an annual interest rate of 6.5%.　　The bonds were issued in the form of digital tokens and will be recorded in the Distributed Ledger Technology Registry, a blockchain-based registry under the Department of Finance. The agency will implement a dual registration structure, with the DLT Registry operating in parallel with the National Registry of Scripless Securities (NRoSS).　　

2023-11-21Deep Dive

OKX Web3 Wallet Launches Cryptopedia Event Series 10

According to an official announcement, the OKX Web3 wallet has recently launched the 10th edition of Cryptopedia. Users who engage in social media attention tasks and NFT minting tasks, and successfully complete and verify them, stand a chance to share a total reward pool of up to $1 million worth of KAS tokens. Users can immediately participate by accessing the Cryptopedia event section through the OKX Web3 wallet.　　Cryptopedia is a comprehensive DApp exploration and reward interaction platform. The platform regularly introduces activities themed around different blockchain networks and collaborates with relevant partners to jointly design DApp interaction tasks. Cryptopedia aims to discover and aggregate potential projects, reduce entry barriers to Web3, minimize user search costs, and enable precise interaction even during fragmented time periods.　　

2023-11-21Deep Dive

Grayscale GBTC Negative Premium Narrows to 10.11%

According to Coinglass data, the grayscale GBTC premium rate has narrowed to 10.11%, reaching its lowest level since August 12, 2021.　　GBTC stands for Grayscale Bitcoin Trust, which is an investment vehicle offered by Grayscale. The trust allows investors to indirectly invest in Bitcoin by purchasing its shares. The shares of GBTC represent ownership of the held Bitcoin. Grayscale holds the Bitcoin and enables investors to indirectly hold the value of Bitcoin by issuing GBTC shares.　　This structure allows investors who do not wish to directly buy and hold Bitcoin to participate in Bitcoin investment. However, the price of GBTC may differ from the price of Bitcoin itself as GBTC currently does not support redemption.　　

2023-11-20Deep Dive

Bitcoin (30%) and Ethereum (39%) Active Supply Hit Historic Lows

In the past year, both Bitcoin and Ethereum have reached historic lows in their active supply turnover. Compared to previous periods, the current turnover rate for Bitcoin is only 30.12%, whereas it was 59% between March 2017 and 2018. As for Ethereum, the current supply turnover is only 39.15%, while it was 86% between July 2016 and 2017.　　For Bitcoin, reaching a historic low in active supply turnover typically occurs before a block reward halving. The next anticipated Bitcoin halving is expected to take place on April 24, next year, which is 155 days away from now.　　

2023-11-20Deep Dive

Web3 Foundation CEO: Polkadot to Abandon Slot Auctions for Parallel Chains, Adopt New Mechanism

The newly appointed CEO of the Polkadot development organization, Web3 Foundation, Fabian Gompf, stated in an interview that Polkadot is undergoing a significant transformation. Polkadot is set to abandon the slot auctions for parachains and instead adopt a new mechanism that allows application developers to rent block space as needed.　　In previous announcements, the Web3 Foundation launched the “Decentralized Futures” program, a $20 million and 5 million DOT funding initiative for Polkadot ecosystem projects. The program is designed for profit-driven organizations centered around Polkadot, as well as non-profit entities with strategies to ensure ongoing funding through Polkadots on-chain funding system after 2024. The review process will commence in November, decision-making will start in December, and the application period will conclude in June 2024.　　

2023-11-20Deep Dive

Latin America's Web3 and crypto startup investments drop 83% YoY to $1.1 billion.

In 2023, Web3 and crypto startups in Latin America are facing funding challenges, with the funding for startups in the region decreasing by 83% compared to the previous year, totaling only $1.1 billion. Similarly, global venture capital funding for cryptocurrency companies saw a significant decline in the first quarter of 2023, plummeting by 80% compared to the previous year, dropping from $12.3 billion in 2022 to $2.4 billion in 2023.　　According to a survey by Goldman Sachs, only 12% of family offices expressed potential interest in cryptocurrencies for the future, a decrease from 45%. The extreme volatility in the cryptocurrency market over the past year seems to have cooled their interest, with 62% stating that they have neither invested nor are interested in future cryptocurrency investments, a higher percentage than the previous 39%.　　

2023-11-20Deep Dive

SEC Delays Decision on Global X and Franklin Templeton's Spot Bitcoin ETF

The SEC has postponed the decision date for the spot Bitcoin ETFs from Global X and Franklin Templeton.　　The SEC stated that it will wait until at least December 22nd before granting approval to Global Xs spot Bitcoin ETF on the Cboe exchange.　　For Global X Bitcoin Trust, which partnered with Cboe BZX Exchange for submission, the SEC has established a comment period lasting until the end of December. According to a press release from the SEC on Friday afternoon, it aims to receive public comments on the proposal in the next 35 days, setting the new deadline for December 22nd.　　Additionally, the SEC has extended the decision date for Franklin Templetons spot Bitcoin ETF, prolonging the original 45-day period and thereby delaying the decision until next year.　　

2023-11-20Deep Dive

This Week's Token Unlocking

Token Unlocks data indicates that this week, tokens such as AVAX, ID, LOOKS, and others will be unlocked. Here are the details:　　Avalanche (AVAX) is scheduled to unlock approximately 9.54 million tokens, valued at around $232 million, on November 24th at 8:00 AM.　　SPACE ID (ID) is set to unlock around 18.49 million tokens, valued at about $4.8 million, on November 22nd at 8:00 AM.　　LooksRare (LOOKS) is expected to unlock approximately 37.5 million tokens, valued at around $2.94 million, on November 27th at 7:01 AM.　　Euler (EUL) is planned to unlock about 13.5 thousand tokens, valued at approximately $46.7 thousand, on November 23rd at 12:00 PM.　　Acala (ACA) is slated to unlock around 4.66 million tokens, valued at about $268 thousand, on November 25th at 8:00 AM.　　

2023-11-20Deep Dive

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