Daily Report | Turkey issues anti-money laundering regulations for cryptocurrencies; 30 new wallets withdraw 1.37 million LINK from Binance; Russia is using Bitcoin in foreign trade
December 25 News OverviewOrganizer: Fairy, ChainCatcher
Important News:
- Turkey introduces stricter anti-money laundering regulations for cryptocurrencies
- Deribit data: Nominal value of approximately $18.447 billion in BTC and ETH options will expire on Friday
- Data: Sun Yuchen transferred 70,182 ETH to HTX on Christmas Eve, worth about $245 million
- Data: 30 newly created wallets withdrew 1.37 million LINK from Binance, approximately $34.1 million
- South Korea's average daily cryptocurrency trading volume in November matches that of the stock market, total investor count exceeds 15 million
- Six mutual funds tracking Bitcoin prices will be listed in Israel on December 31
- Russian Finance Minister: Russia is using Bitcoin in foreign trade
"What important events happened in the last 24 hours"
Russian Finance Minister: Russia is using Bitcoin in foreign trade
According to Jinshi reports, the Russian Finance Minister stated that Russia is using Bitcoin in foreign trade.
Six mutual funds tracking Bitcoin prices will be listed in Israel on December 31
After receiving approval from the Israel Securities Authority (ISA), six mutual funds tracking Bitcoin (BTC) prices will be listed in Israel next week.
These six companies will start operations on the same day, December 31, as required by the regulators. Executives from the investment companies stated, "The investment companies have been pleading for ETF approval for over a year and began sending out prospectuses for Bitcoin funds mid-year. However, the regulators have been unyielding. They need to check the details."
Turkey introduces stricter anti-money laundering regulations for cryptocurrencies
Turkey launched new cryptocurrency regulatory legislation in the last week of 2024, inspired by the proactive regulatory developments in major jurisdictions around the world, including Europe.
According to the released documents, the new regulations require users conducting transactions exceeding 15,000 Turkish Lira (approximately $425) to provide their identity information to cryptocurrency service providers in the country.
This new anti-money laundering (AML) regulation aims to prevent money laundering and the financing of terrorism through cryptocurrency transactions, and it will take effect on February 25, 2025.
Deribit data: Nominal value of approximately $18.447 billion in BTC and ETH options will expire on Friday
Deribit data shows that nominal values of approximately $14.515 billion in BTC options and $3.932 billion in ETH options will expire on Friday (December 27); the maximum pain price for BTC is $84,000, and for ETH, it is $3,000.
Data: Sun Yuchen transferred 70,182 ETH to HTX on Christmas Eve, worth about $245 million
According to Spot On Chain monitoring, Sun Yuchen transferred 70,182 ETH to HTX on Christmas Eve, with a total value of approximately $245 million. This includes 42,905 ETH unstaked from Lido Finance and 27,277 ETH transferred from Etherfi.
Since November 10, Sun Yuchen has deposited a total of 179,101 ETH (approximately $645 million) into HTX, at an average price of $3,601, with most transfers occurring near price peaks.
Currently, Sun Yuchen still holds 106,905 stETH (approximately $372 million) and 56,277 eETH (approximately $196 million), with 25,000 ETH (approximately $87 million) currently being unstaked from Etherfi.
Data: 30 newly created wallets withdrew 1.37 million LINK from Binance, approximately $34.1 million
According to Lookonchain monitoring, in the past 5 days, 30 newly created wallets have withdrawn 1.37 million LINK (approximately $34.1 million) from Binance.
Mocaverse operating expenses and liquidity wallet transferred 24.5 million MOCA to CEX, suspected for market making
According to Lookonchain monitoring, in the past two hours, Mocaverse operating expenses and liquidity wallets transferred a total of 24.5 million MOCA (approximately $10 million) to four major exchanges: Gate.io, KuCoin, Bybit, and Bitget, suspected for market making.
South Korea's average daily cryptocurrency trading volume in November matches that of the stock market, total investor count exceeds 15 million
Data from the Bank of Korea shows that by the end of November, the number of cryptocurrency investors in South Korea reached 15.59 million, an increase of 610,000 from October. This number accounts for over 30% of the country's total population, reflecting increased market activity following the election of Donald Trump as President of the United States, who promised to support the cryptocurrency industry. The rise in Bitcoin prices has also fueled this trend.
By the end of November, the total cryptocurrency holdings of South Korean investors amounted to 102.6 trillion Korean Won (approximately $7.08 billion), compared to 58 trillion Korean Won (approximately $4 billion) in October. The average daily trading volume in November reached 14.9 trillion Korean Won (approximately $10.288 billion), equivalent to the combined average daily trading volumes of the KOSPI and KOSDAQ markets in South Korea for the same month.
Glassnode: The severity of market pullbacks during Bitcoin bull market rallies is gradually decreasing
On-chain analytics firm Glassnode disclosed data showing that although significant price increases during Bitcoin bull markets are typically accompanied by extreme selling pressure, as the market expands, the severity of market pullbacks during each bull market rally is gradually decreasing.
The deepest pullback in this cycle occurred on August 5, 2024, with a decline of 32%. During most pullbacks, Bitcoin prices only fell below local highs by 25%, indicating that the volatility in this cycle is among the lowest to date.
This may reflect that the launch of spot ETFs has opened a huge demand window, while institutional investor interest is also continuously growing. The vast majority of short-term holders' supply (in terms of coin count) is operating "underwater" compared to their cost price, but they have not endured extreme unrealized losses associated with market deterioration.
"What are the must-read articles from the last 24 hours"
Gavin Wood: Polkadot 2024 Annual Review
It's that time again… I've temporarily set aside the text editor I've been writing in for a whole year and opened Medium. The nights are getting colder, the days are getting shorter, and the fire is lit; it's the perfect time to reflect on our ecosystem. How are we doing? What achievements have we made in the past 12 months? What will happen next? Buckle up, this year's content will be long because we've been busy and eager to make more progress.
2024 Bitcoin Year-End Review: Price up 131% not as good as last year, TVL surges 21 times to over $6.7 billion
In 2024, Bitcoin broke through the $100,000 mark in an upward trend, establishing a new milestone for the development of digital assets. The keywords "ETF approval," "halving," and "U.S. elections" drove market changes throughout the year. Behind this overall picture, what specific changes in trading markets, on-chain fundamentals, and application layers of Bitcoin are worth noting? What potential impacts do these changes have on the development of 2025?
A look at the seven major DeFi staking platforms in 2025: How to maximize returns?
As the cryptocurrency industry has developed, staking has become an indispensable cornerstone, playing a crucial role in network security and investor participation. By participating in staking, individuals can not only contribute to the stable operation of blockchain networks but also unlock opportunities for passive income. Specifically, the benefits of participating in staking include:
1. Strengthening the security of the crypto economy: Essentially, staking involves locking a certain amount of cryptocurrency to support the operation of the blockchain network. This process is particularly critical for proof-of-stake (PoS) blockchains, where validators confirm transactions based on the amount of cryptocurrency they have staked. This mechanism ensures the security of the network and aligns the interests of participants with the healthy development of the blockchain.
2. Earning passive income: In addition to enhancing network security, staking also provides attractive economic incentives. By staking assets, investors can earn rewards, typically distributed in the form of additional cryptocurrency tokens. This method of income generation meets the needs of both novice and experienced investors seeking to maximize returns without engaging in active trading. In some projects, staking may also involve airdrop activities, providing stakers with additional asset appreciation opportunities.
3. Launching new projects through restaking: A recent innovation in the staking space is "restaking," which allows staked assets to be reused across multiple protocols. This method enables new projects to leverage the security and capital of existing networks, effectively guiding their development. For example, platforms like EigenLayer promote restaking by allowing users to stake their ETH or liquid staking tokens, extending the security of the crypto economy to other applications on the network, thereby bringing further returns to investors.
Meme Hot List
According to the meme token tracking and analysis platform GMGN market data, as of December 25, 19:50:
In the past 24 hours, the top five popular Ethereum tokens are: MYSTERY, PEPU, HOODRAT, STARS, TOKI
In the past 24 hours, the top five popular Solana tokens are: GUZUTA, MEOWMAS, LPENGU, DINO, $VITA
In the past 24 hours, the top five popular Base tokens are: VIRTUAL, INNIT, CLOD, OGA, KEVIN
