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Rhythmic Morning Post | SatoshiVM (SAVM) rose more than 2,300% from the opening price; Bitcoin surpassed silver to become the second largest ETF commodity category in the United States

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GM! A list of important information about the encryption industry last night and this morning on January 19th

Selected News:

1. SatoshiVM(SAVM) is currently trading at $3.17, with an increase of over 2300% from the opening price.

2. The grayscale trust address transferred 9,840 BTC to Coinbase Prime again 20 minutes ago;

3. Manta responds to network outage: experiencing a well-planned DDoS attack, funds are safe;

4. Bitcoin surpasses silver to become the second largest ETF commodity category in the United States;

5. The US SEC has postponed making a decision on Fidelity's Ethereum spot ETF application.

Price Observation

Bitcoin NFT project Pizza Ninjas floor price is now reported at 0.0965 BTC, with trading volume exceeding 14 BTC within 2 hours

On January 19th, according to MAGIC EDEN market data, the Bitcoin NFT project Pizza Ninjas' floor price is currently at 0.0965 BTC, with trading volume exceeding 14 BTC within 2 hours.

SatoshiVM(SAVM) is now trading at $3.17, up more than 2300% from the opening price.

On January 19th, according to market data, SatoshiVM (SAVM) is currently trading at $3.17, an increase of over 2300% from the opening price.

Bitcoin fell below $41,000 briefly this morning, with a 24-hour decline of 3.14%.

On January 19th, according to OKX market data, Bitcoin briefly fell below $41,000 to $40,683 in the early morning and has since rebounded to $41,330, with a 24-hour decline of 3.14%.

Ethereum falls below $2500, down 1.82% in 24 hours

On January 19th, according to OKX market data, Ethereum fell below $2500 and is currently priced at $2489, with a 24-hour decline of 1.82%.

HT drops below $2.2, falls more than 15% in one hour

On January 18th, according to market data, HT fell below $2.2 and dropped more than 15% within an hour. It is currently priced at $2.12.

CFX short-term breakthrough $0.23, short-term increase expanded to 21%

On January 18th, according to OKX market data, influenced by the news of "Conflux announcing the launch of Bitcoin Layer 2", CFX's short-term increase expanded to 21%, and it is currently priced at $0.229.

MANTA short-term breakthrough $2.8, up more than 20% in the past hour

On January 18th, according to market data, MANTA rose sharply to break through $2.8 in a short period of time, and is now priced at $2.67, with a growth rate of over 20% in the past hour.

SS20 liquidity pool launched on Orca, currently priced at $0.0049

On January 18th, according to market data, the BRC20 cross-chain protocol Shell Trade (SS20) liquidity pool based on the Solana network has been launched on Orca, with a temporary price of 0.0049 USD at the time of publication.

Transaction Tracking

Grayscale Trust transferred another 9,840 BTC to Coinbase Prime 20 minutes ago.

On January 18th, according to blockchain data analyst Yu Jin's monitoring, the Gray Trust address transferred 9,840 BTC to Coinbase Prime 20 minutes ago.

Since the BTC spot ETF was approved, Grayscale Trust has transferred a total of 41,478 BTC (worth approximately $1.784 billion) to Coinbase Prime during the opening hours of the US stock market for four consecutive trading days starting from January 12th.

Project Updates

SatoshiVM releases SAVM token economics

On January 19th, SatoshiVM released the basic information and distribution details of its token, SAVM. The total supply of SAVM tokens is 21 million, with distribution ratios including: ecosystem 36.5%, liquidity 30%, contributors 15%, startup capital 15%, Bounce Finance IDO 2%, APE Terminal IDO 1%, MUBI pool 0.4%, and BSSB pool 0.1%.

Viewpoint Data

JPMorgan analyst predicts GBTC profit-taking may cause further downward pressure on Bitcoin price

On January 19th, according to The Block, JPMorgan analysts pointed out that if GBTC investors continue to sell profits, the price of Bitcoin may face further downward pressure in the coming weeks. After GBTC converted to a physical Bitcoin ETF last week, more than $1.5 billion in funds have flowed out. JPMorgan estimated last week that GBTC's fund outflow could reach as high as $3 billion, mainly due to speculative investors potentially taking profits.

JPMorgan analyst Nikolaos Panigirtzoglou's team wrote in a report on Thursday: "If the previous estimate of $3 billion is correct, and given that $1.5 billion has already exited, there may be an additional $1.5 billion in profit-taking through GBTC exiting the Bitcoin market, putting further pressure on Bitcoin prices in the coming weeks."

Analysts also pointed out that GBTC investors have bought shares of the fund at a significant discount to net asset value over the past year, in anticipation of the eventual ETF conversion, and have realized full profits by completely exiting the Bitcoin market after the ETF conversion. These outflows of funds have also put pressure on the GBTC fund to lower its fees. Analysts reiterated their view that the current 1.5% fee is "too high" compared to other spot Bitcoin ETFs.

In addition, JPMorgan analysts also mentioned that although fees are not the only reason for some institutional investors to switch to cheaper spot Bitcoin ETFs, GBTC still "faces the risk of further fund outflows." They added that if other spot Bitcoin ETFs can reach critical mass in terms of scale and liquidity, GBTC may lose its liquidity advantage, and an additional $5 billion to $10 billion in funds is expected to flow out.

Valkyrie Ventures: At least 20 billion US dollars will flow into the first-year spot Bitcoin ETF

On January 19th, Steven McClurg, co-founder of Valkyrie Investments, predicted that the first year of the spot Bitcoin ETF would attract at least $20 billion in funds.

Bloomberg analyst: Nine spot Bitcoin ETFs saw a 34% increase in daily trading volume

On January 19th, Eric Balchunas, an ETF analyst at Bloomberg, pointed out that unlike the usual trend of daily trading volume decreasing after the launch of new products, nine newly listed physical Bitcoin ETFs saw a 34% increase in trading volume from the 4th to the 5th day after listing, which is relatively rare in the market.

Balchunas further analyzed that this abnormal increase in trading volume was not caused by market fluctuations, as all other products except GBTC experienced an increase in trading volume. In addition, he also mentioned that the discount problem currently faced by GBTC is worsening, with its discount rate rising to 96 basis points, which may be due to selling pressure, but the exact reason still needs to be observed from fund flows.

Bitcoin surpasses silver to become the second largest ETF commodity category in the United States.

On January 18th, according to The Block, Jag Kooner, the derivatives director of Bitfinex, stated that just one week after trading began, the management assets of the US Bitcoin ETF had surpassed that of the Silver ETF, becoming the second largest ETF commodity category in the United States.

According to data from CC15Capital, the spot Bitcoin ETF fund (including the conversion of Grayscale's GBTC trust) currently holds approximately 647,651 Bitcoins, with assets under management totaling $27.5 billion.

Polkadot 2023 Developer Report: Full-time developers second only to Ethereum, with a total of 22.23 million lines of raw code submitted by developers throughout the year.

On January 18th, Polkadot announced on social media that according to the 2023 Developer Report released by Electric Capital, Polkadot developers submitted a total of 22,232,604 lines of original code throughout 2023, accounting for 10.5% of all submitted code in the Web3 field. They also had the second highest number of full-time developers, with 792, second only to Ethereum.

BitMEX Research: GBTC saw outflows of $458 million on the fourth day, with total outflows reaching $1.6 billion

On January 18th, BitMEX Research released the fourth day data of GBTC on social media platforms. GBTC had a net outflow of 458 million US dollars on the fourth day, and the total outflow of GBTC has reached 1.6 billion US dollars.

Financing Express

Web3 analysis platform Safary completes $2.4 million Pre-Seed round of financing

On January 19th, Web3 analytics platform Safary announced the completion of a $2.4 million Pre-Seed round of financing, led by Lemniscap, with participation from Arca, SevenX, Big Brain Holdings, Saison Capital, Diaspora Ventures, and 20 Web3 angel investors (14 of whom are members of the Safary community).

This funding will be used to expand the Safary team and accelerate the development of the Safary marketing analytics platform. Safary aims to be the Web3 alternative to Google Analytics, allowing users to track visitors, wallets, and other content in an intuitive no-code dashboard.

French cryptocurrency market maker Flowdesk completes $50 million Series B financing, led by Cathay Innovation

On January 18th, according to The Block, French cryptocurrency market maker Flowdesk completed a $50 million Series B financing round. The round was led by Cathay Innovation, with participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Ripple, and Bpifrance (the French state investment bank).

Flowdesk co-founder and CEO Guilhem Chaumont said in an interview that this is a round of pure equity financing. According to insiders, the new round of financing will increase Flowdesk's valuation from $100 million in Series A financing to over $250 million.

The Ethereum staking platform Kiln has completed a $17 million financing round, led by 1kx.

On January 18th, according to Coindesk, Ethereum staking platform Kiln completed a $17 million financing round, led by 1kx, with participation from IOSG, Crypto.com, Wintermute Ventures, KXVC, and LBank. This new round of financing is an extension of Kiln's $17.6 million Series A financing announced in November 2022.

It is reported that Kiln has raised a total of $35 million from investors since its launch, with investors including Illuminate Financial, Kraken Ventures, Avon Ventures, Consensys, and GSR.