Daily Report | Galaxy Digital Research Director: $25,000 is an important technical support level for Bitcoin, long-term investors continue to increase their holdings; open-source tool Anytype completes $13.4 million financing, led by Balderton Capital
A certain whale has accumulated 42,800 ETH since May, worth approximately 72 million dollars; on-chain analysts: more than 113 bot contracts have earned over 2 million dollars on friend.tech.整理：西柚，ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. FTX Plans to Sell Over $3 Billion in Crypto Assets Through Galaxy to Repay Creditors in Fiat Currency Instead of Bitcoin or Ethereum
According to ChainCatcher and reported by CoinDesk, the bankrupt crypto exchange FTX aims to start selling, staking, and hedging its large crypto assets to repay creditors in fiat currency rather than Bitcoin or Ethereum.
FTX seeks to trade cautiously to avoid devaluing its over $3 billion in crypto assets and is looking to hire Galaxy Digital CEO Mike Novogratz as an advisor for assistance. These requests still require approval from the Delaware bankruptcy court. (Source link)
2. Galaxy Digital Research Director: $25,000 is an Important Technical Support Level for Bitcoin, Long-term Investors Continue to Accumulate
According to ChainCatcher, Alex Thorn, the research director at crypto financial services company Galaxy Digital, analyzed the impact of Bitcoin's more than 10% drop in just a few hours on August 17, which was influenced by deleveraging and breaking Bitcoin's long-standing low volatility.
Key points include:
The Bitcoin futures market saw its largest drop in open interest since FTX's collapse in November 2022, evaporating over $2.75 billion.
Short-term holders are facing significant unrealized losses, which may lead to further declines in the short term.
Long-term holders continue to accumulate, with over 40% of Bitcoin supply held for more than three years, reaching a record high.
Small holders (<=10 BTC) have not yet increased their holdings to the levels seen during other downturns in 2023.
$25,000 is an important technical support level.
He stated that this rapid decline cleared a significant amount of leverage, resulting in the most thorough reset of the Bitcoin market since FTX's collapse. In the absence of strong positive catalysts, the recent trend remains downward, with $24,000 and $25,000 seen as key support levels. In fact, if a quick rebound does not occur in the short term, nearly 90% of short-term holders are in a loss position, which will create further downward pressure. Both long-term holders and small holders are continuing to accumulate. (Source link)
3. A Whale Has Accumulated 42,800 ETH Since May, Worth Approximately $72 Million
According to ChainCatcher, monitoring by Lookonchain shows that a whale address bought 2,000 ETH (approximately $3.36 million) from Binance just 2 hours ago. Since May 8, this whale has accumulated a total of 42,800 ETH (approximately $72 million) from Binance. (Source link)
4. On-chain Analyst: Over 113 Bot Contracts Have Earned Over $2 Million on friend.tech
According to ChainCatcher, Tom Wan, an on-chain data analyst at 21co, tweeted that over 113 bot contracts have gained more than 20,000 keys on friend.tech, earning over $2 million. The method to identify bots is whether traders can purchase them in the same block as the key subject.
The bot with the highest earnings is 0xcc218bbd21e14944fcc121d161c9b9ae71b9cc85, with an income of $569,000.
Earlier, friend.tech tweeted that it renamed "Shares" to "Keys." The original name was just a placeholder during the development process, and friend.tech believes "Keys" more accurately describes their function in unlocking friend chat and other in-app features. (Source link)
5. Open-source Tool Anytype Completes $13.4 Million Financing, Led by Balderton Capital
According to ChainCatcher, the open-source tool Anytype officially announced the completion of a new round of financing totaling $13.4 million, led by Balderton Capital, with participation from Inflection, Square One, Script Capital, Protocol Labs, Connect Ventures, New Forge, Foreword VC, and several well-known angel investors in the Web3 field. Colin Hanna from Balderton will also join its board.
Anytype is a locally-focused peer-to-peer open-source tool that provides users with the initially expected freedom of the web while protecting privacy, data autonomy, and control. By combining no-code tools with decentralized architecture, it allows creators and communities to build the web in their own way. (Source link)
6. Citibank: 74% of Surveyed Companies Are Exploring Distributed Ledger Technology and Digital Assets
According to ChainCatcher, Citibank believes that investments in the digital asset space over the past few years "are now beginning to bear fruit," but the technology is still in its growth stage. An increasing number of companies are exploring DLT (distributed ledger technology) and digital assets, with this proportion rising from 47% in 2022 to 74% in 2023.
A survey found that despite the collapse of crypto companies, interest and participation in distributed ledger technology and digital assets are growing. More companies are exploring this field.
Citibank noted that billions of dollars are now managed through DLT. The issue lies in the personnel and processes implementing DLT, rather than the technology itself.
The survey found that regulatory uncertainty could hinder future development, especially in North America and Europe. The digital currency sector, including central bank digital currencies (CBDCs), is rapidly growing. 87% of market participants believe the industry will be "viable" before 2026, up from 72% last year.
Overall, the DLT sector is growing faster than the cryptocurrency sector. About 87% of custodial service providers are working on DLT and digital assets, but only 25% of asset owners have active projects.
Citibank believes that DLT and digital assets require changes in processes and a reshaping of systems, and companies must be prepared to invest significantly in this area. (Source link)
"What Are Some Great Articles to Read in the Last 24 Hours"
1. "Web3 Version of ChatGPT Product Review: Basic Understanding is Adequate, but Overall Unsatisfactory"
While the current hot topic of "AI + Web3" still revolves around identity networks like Worldcoin, Telegram Bot narratives like Unibot and Lootbot, as well as zkML technologies that may further interact with scaling solutions in the future, AI-driven chatbots such as MinMax, QnA3, and Web3 Analytics have emerged in the community, proving that teams have noticed the gap in knowledge transmission in Web3 and want to create a chatGPT for specialized fields in Web3. This article will evaluate the aforementioned three Web3 chatbots from multiple perspectives, including understanding, generation, learning, and optimization, to comprehensively assess the user experience and intelligence level.
2. "Pantera Open Letter: BTC to Rise to $35,000 Before Next Halving, and to $148,000 After Halving"
The next halving is expected to occur on April 20, 2024. Since most Bitcoin is already in circulation, each halving nearly halves the new supply. If history repeats itself, Bitcoin will rise to $35,000 before the next halving and to $148,000 after the halving.
Roman Storm and Roman Semenov have been charged with conspiracy to operate an unlicensed money transfer business. So far, not all relevant facts have been fully disclosed, but at first glance, the limited factual allegations in the indictment do not show any clear violations of relevant laws. Regarding other allegations related to this new case, we may follow up later, but it is currently necessary to discuss what constitutes money transfer and what is "pure" software development or communication service. This is a key issue in this case and at the core of American citizens' rights to build and publish software.
