Today’s market hot spots
1. USDC circulation decreased by US$300 million in the past week;
2 BlackRock has become the second largest shareholder of four Bitcoin mining companies;
3. Paul Chan Mo-po: Hong Kong will step up efforts to promote the development of digital entertainment and Web3.0 industries;
4. Data: OnlyFans should hold 9,000 ETH, and the buying price is approximately $2,210;
5. The current third largest Bitcoin holder is the Robinhood custody address controlled by Jump;
6. Report: The total value settled through stablecoins in 2022 is close to Visa’s $11.6 trillion:
7. OnlyFans released its financial report: as of the end of November last year, it held approximately US$11.43 million worth of ETH;
8. Yuga Labs CEO: Will not give up the NFT project Meebits, and will have new plans in the next few months;
9. A certain whale may be selling UNI, MATIC, LINK through OTC, and buying LDO and DYDX.
New Bull Market: New Story, Same Mechanics
But I think the money-making opportunities in the bull market will start before new money enters the system, through innovative leverage and recycling of existing crypto capital
A classic example is the DeFi craze: DeFi tokens were already gaining momentum before the price of Ethereum and Bitcoin skyrocketed. Crypto natives deposited Ethereum and stablecoins to get brand new tokens that were telling a story about a new financial system. Some people were selling these tokens, but many believed in the story and held on to DeFi tokens.
The DeFi preheated bull bubble and the wealth generated from it was enough to attract newcomers to the crypto system and buy Ethereum and Bitcoin. Of course, the low interest rate environment has a much greater impact than our relatively mild money printing, but we will talk about this later.
What interests me most is that before the DeFi craze, the infrastructure of DeFi was actually built, but before liquidity mining became a hot topic, few people cared about DeFi.
We are currently in a similar pre-DeFi bull season, laying the foundation for innovative money printing and compelling narratives, with some of the top opportunities having the potential to generate larger echo bubbles than some of the short-term narratives we have seen during this bear market
Approval of a spot Bitcoin ETF would “inject vitality into the market”
In addition, the market is also paying special attention to whether the "Bitcoin spot ETF" will successfully pass the SEC's review. Earlier this month, Eric Balchunas, a senior ETF analyst at Bloomberg, revealed: "The approval of the Bitcoin spot ETF may be within four to six months, rather than a question of 'whether', which greatly strengthened the market's expectations.
If the BlackRock Bitcoin spot ETF is approved, it is expected to bring "incremental funds" to the crypto market, thereby driving the price of the currency to break through the $32,000 barrier that has been unable to break through so far.
Who is BlackRock?
Let's take a simple example. The total currency of all countries in the world is 360 trillion, and the assets managed by BlackRock Group are 8.6 trillion. This is still announced by the media, which does not include gold, real estate, stocks and other types of assets. Another example is that Apple, Microsoft, Goldman Sachs, Google, and even Musk's Tesla have shares. Now there is no need to explain who BlackRock Group is, right? Now you know how important it is for BlackRock's Bitcoin ETF application to be approved? This may be a signal for the start of a bull market