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Rhythm Evening News｜Binance’s newly launched currencies have seen general gains; JPMorgan Chase said that the approval of spot Bitcoin ETF may not lead to a large influx of new capital

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An overview of important information in the encryption industry on November 13, GN!

Selected News:

1. The Hong Kong government is considering listing virtual assets such as Bitcoin as investment immigration assets.

2. Ordinals: The cumulative revenue of inscription fees has exceeded 90 million US dollars, and the total amount of coins minted has exceeded 40 million.

3. Binance has recently listed new cryptocurrencies, resulting in a general uptrend in the market. MEME has seen a 24.6% increase in the past 24 hours.

4. JPMorgan: The rebound in the cryptocurrency market is somewhat excessive, and the approval of a spot Bitcoin ETF may not lead to a large influx of new capital;

5. Last week, the total network transaction fees for Bitcoin were approximately 923 BTC, reaching the highest point since mid-May.

Price Observation

ORDI short-term breakthrough $24, 24-hour increase of 21.7%

According to OKX market data, ORDI has broken through $24 in the short term and is currently priced at $23.1, with a 24-hour increase of 21.7%.

TIA surged above $5, with a 115% increase in the past 4 days

According to OKX market data, TIA has risen above $5 and is currently priced at $5.1, with a 24-hour increase of 22.14% and a 4-day increase of 115%.

KLAY rose above $0.19, with a 24-hour increase of 32.3%.

According to OKX market data, KLAY has risen above $0.19 and is currently trading at $0.1933, with a 24-hour increase of 32.3%.

BNT short-term breakthrough $1.95 and then fell back, with a 251% increase in the past 7 days.

According to OKX market data, BNT briefly broke through $1.95 and then fell back, currently trading at $1.56. Its price has increased by 251% in the past 7 days and 42.46% in the past 24 hours.

According to Santiment data, in the past two weeks, the number of addresses holding over 10,000 BNT coins has reached a new high in nearly 8 months.

BRC-20 token sats up nearly 24% in 24 hours, now priced at $0.00000018

According to the market data from geniidata, the BRC-20 token sats has risen to 0.00000018 USD, with a 24-hour increase of 23.40%.

The price of memetic coin GROK has increased by over 85.4% in the past 24 hours, now trading at $0.0178 USD.

According to Bitget market data, the meme coin GROK, named after the AI model Grok system previously released by Musk, has seen a 24-hour increase of 86.71%, with a current price of 0.0178 USD.

BNT dropped more than 55% in 8 hours after breaking through $2 this morning.

According to OKX market data, BNT experienced a sharp decline after breaking through $2 this morning, and is now trading at $0.87, down more than 55% in the past 8 hours.

According to Coinglass data, BNT liquidations reached $4.4713 million in the past 12 hours, with long positions liquidated at $2.38 million and short positions liquidated at $2.08 million.

OP surged above $1.9, with a 24-hour increase of 10.83%.

BlockBeats News, on November 16th, according to OKX market data, OP rose and broke through $1.9, with a current price of $1.904, a 24-hour increase of 10.83%.

SEI surged above $0.15, with a 24-hour increase of 17%

Binance will support the network upgrade and hard fork of AirDAO (AMB) and BitShares (BTS). The specific schedule is as follows:

AirDAO (AMB) project team will conduct a network upgrade at block height 27,690,000 (expected to be on November 16, 2023, Eastern Time); Binance is expected to suspend token deposit and withdrawal services for the above network at 04:00 on November 16, 2023, Eastern Time.

BitShares (BTS) project team is expected to conduct a network upgrade and hard fork at 22:00 on November 16, 2023, Beijing time; Binance is expected to suspend token deposit and withdrawal services for the above network at 21:00 on November 16, 2023, Beijing time.

OKX launches spot copy tradingAccording to official sources, OKX has officially launched spot follow-up trading, aiming to help users avoid the trouble of watching the market and easily grasp the best timing. OKX spot follow-up trading is a new type of social investment method. The platform selects top spot traders, and follow-up users can automatically copy the spot trading positions of the traders.

BC Technology Group, the parent company of OSL trading platform, has been temporarily suspended since November 13th, awaiting the publication of a major announcement.

According to official sources, BC Technology Group (00863) will be temporarily suspended from trading starting from November 13, 2023, awaiting the announcement of a transaction that must be disclosed to the public (which constitutes insider information).

It is reported that OSL, a digital asset trading platform under BC Technology Group, is a licensed and compliant platform for trading digital assets in Hong Kong. Previously, Bloomberg reported that BC Technology Group planned to sell its digital asset platform OSL for a valuation of HKD 1 billion. However, OSL clarified that the report was not true.

BitgetX.hk withdraws its application for a Virtual Asset Service Provider (VASP) license in Hong Kong

BitgetX.hk announced that, due to business reasons, it has decided to withdraw its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong and will cease all cryptocurrency-related services in Hong Kong in accordance with regulatory requirements. The BitgetX.hk website will be taken offline and existing users will be refunded in an orderly manner.

Previously, BitgetX.hk had considered applying for a Hong Kong license, but has not yet formally submitted an application.

Viewpoint Data

Data: Ordinals Inscription cumulative revenue exceeds 90 million US dollars, total coinage exceeds 40 million coins

According to the latest data from Dune, the cumulative fee income generated by the Bitcoin NFT protocol Ordinals' inscription casting has reached 2433.5 BTC, equivalent to approximately 90,286,981 USD. The current total number of inscriptions cast is 40,089,490.

Last week, Bitcoin's total network transaction fees were about 923 BTC, reaching the highest point since mid-May.

According to data from BTC.com, the total accumulated transaction fees for Bitcoin across the entire network last week were approximately 923 BTC, marking the highest point since mid-May of this year.

Bitcoin mining difficulty increased by 3.55% to 64.68 TAccording to BTC.com data, the Bitcoin mining difficulty has undergone a mining difficulty adjustment at block height 816480, with the mining difficulty increasing by 3.55% to 64.68 T, reaching a new historical high. Currently, the average network hashrate is 458.13 EH/s.

Grayscale's FIL, SOL, LINK and other encrypted trusts have seen significant premiums.

According to the latest data from Coinglass, several cryptocurrency trust products under Grayscale have shown significant premium phenomena. Among them, the premium rate of FIL (Filecoin) trust is as high as 901.67%, the premium rate of SOL (Solana) trust is 869.29%, and the premium rate of LINK (Chainlink) trust has also reached 250.50%.

The number of Bitcoin millionaire addresses has reached 88,600, an increase of 215% since the beginning of the year.

According to data retrieved by Finbold, the number of millionaire Bitcoin addresses has significantly increased since the beginning of the year, as the price of Bitcoin has risen to a new high for the year. As of November 12th, the number of millionaire Bitcoin addresses has reached 88,628, which is a significant increase of 60,544 addresses from the 28,084 recorded on January 5th, representing a growth rate of 215%.

Among them, there are 81,962 addresses holding at least $1 million worth of Bitcoin, while there are 6,666 addresses holding at least $10 million worth of Bitcoin assets.

Matrixport: BTC may rebound due to US CPI data, with a potential year-end target of $45,000

According to the latest report from Matrixport, several important events in the first half of 2024 may have a significant impact on the trend of Bitcoin. This includes the possible approval of Bitcoin ETF by the US Securities and Exchange Commission (SEC), the potential listing of Circle on the stock market, and FTX's efforts to regain its position as one of the top three trading platforms.

In addition, the Bitcoin halving cycle and the Ethereum upgrade in the first quarter of 2024 have brought optimistic expectations to the market. At the same time, the possibility of a mid-2024 cut in the US Federal Reserve interest rate is in line with market expectations. Driven by US CPI data, Bitcoin may experience a wave of growth, with a target breakthrough of $36,000 and even looking towards $40,000, and may even reach $45,000 by the end of the year. The stable buying activity in the US and the possibility of a Santa Claus Rally further enhance the market's positive sentiment.

JPMorgan: The rebound in the cryptocurrency market is somewhat excessive, and the approval of a spot Bitcoin ETF may not lead to a large influx of new capital.

According to a report by CoinDesk, JPMorgan Chase stated in a research report last week that the excitement over the possibility of a spot Bitcoin ETF approval has driven a strong rebound in digital assets over the past month, but the increase seems to have gone too far.

Analysts say that "the approval of a Bitcoin ETF in the spot market will help the cryptocurrency market attract new capital, as the newly approved ETF will see inflows of funds." And "the approval will consolidate the victory of the cryptocurrency industry, but it is a setback for the US Securities and Exchange Commission (SEC)," so the SEC is more likely to soften its attitude towards the cryptocurrency industry.