Economically Unspendable Bitcoin UTXOs
UTXO management guidance for avoiding footguns that can cause problems during times of high transaction fees.
Yesterday, the transaction fee of the entire Bitcoin network exceeded 560 BTC, rising by more than 33% in 24 hours.
According to BTC.com data, yesterday's total network transaction fee for Bitcoin reached 560.3 BTC, an increase of over 33% compared to the single-day total network transaction fee of 421.2 BTC on December 15th.
Bitcoin at Risk of Snapping Historic Winning Streak, but 'Perfect Storm' Brews for a Strong 2024
Market participants expect interest rates to fall "aggressively" in the U.S., U.K. and Europe for the next couple of years, which is more beneficial for risky assets, OANDA's Craig Erlam said in an interview with CoinDesk TV.
BTC falls below $42,000
OKX-BTC/USDT is currently trading at $41933.80, with a 24-hour decrease of 0.47%.
5159.96 BTC left exchange wallets in the past 24 hours
According to data from coinglass, 5159.96 BTC have flowed out of exchange wallets in the past 24 hours, 11624.72 BTC have flowed into exchange wallets in the past 7 days, and 8559.44 BTC have flowed out of exchange wallets in the past 30 days. As of the time of writing, the total balance of exchange wallets is 1,826,277.70 BTC.
Bitcoin hits all-time highs against local currencies in six countries: Egypt, Nigeria, Lebanon, Pakistan, Turkey and Argentina
The price of Bitcoin has risen by about 80% within 2023, reaching the highest level of the year. Although it has not yet reached the historical high of $69,000, it has reached a historical high when calculated in currencies such as the Egyptian pound, Nigerian naira, Lebanese pound, Pakistani rupee, Turkish lira, and Argentine peso. Analysis believes that the significant rise in Bitcoin prices in these countries is due to the high inflation rates currently plaguing these countries, as well as the decline in the exchange rate of these currencies against the US dollar. For example, Lebanon's inflation rate is currently 208%, Argentina's is 135%, Egypt's is 35.7%, Nigeria's is 30.6%, Turkey's is 64%, and Pakistan's is 29.4%.
Tap Protocol, based on the Bitcoin ecosystem, received $4.2 million in financing
Tap Protocol has completed a $4.2 million financing led by Sora Ventures to enhance its presence in the Bitcoin ecosystem. This investment has received contributions from numerous venture capital firms and angel investors, enabling Trac Systems, the German company behind Tap Protocol, to achieve significant growth.
Bitcoin surpasses Polygon to become fourth largest blockchain by total NFT sales
According to the latest data from Cryptoslam, the total sales of NFTs on the Bitcoin blockchain have surpassed $1.3 billion, reaching $1,322,868,814 at the time of writing, making it the fourth largest blockchain for NFT sales, surpassing Polygon (which had a total on-chain NFT sales of $1,319,980,485 at the time of writing) and second only to Ethereum (approximately $41.874 billion), Solana (approximately $4.443 billion), and Ronin (approximately $4.255 billion).
Volume 161: Digital Asset Fund Flows Weekly Report
Continued inflows at US$43m, Blockchain equities see largest inflows on record
Matrixport: Bitcoin could rise in 2024 even if spot ETFs aren’t approved
According to a report by financial services company Matrixport, even if the spot ETF is not approved, Bitcoin could still rise in 2024. Analyst Markus Thielen predicts that with increased liquidity, the Bitcoin halving event and the possibility of Donald Trump being re-elected as US president provide further catalysts.<br>The analyst wrote in the company's latest report that since the outbreak of the COVID-19 pandemic, the size of the US money market fund has increased from $3 trillion to $6.1 trillion. This growth means that now about $370 billion in interest is paid annually, equivalent to about $1 billion per day - this money can "easily" enter riskier investments such as stocks and cryptocurrencies. In addition, he believes that the $6.1 trillion in principal could also be used to push up asset prices.
Why we invest in BitSmiley?
BitSmiley is the MakerDAO+Compound of the Bitcoin ecosystem, providing a comprehensive solution for Bitcoin DeFi by addressing the most significant gaps in the current Bitcoin ecosystem — stability coins and lending infrastructure.
Major Repricing in Front-End Skew
Bitcoin and other cryptocurrencies finally experienced a meaningful correction, triggered by the latest proposed ‘anti-crypto’ bill from US Senator Warren, which was amplified by an overleveraged perpetual futures market, particularly in Bitcoin. Before this downturn, open interest in all Bitcoin exchanges had reached about $12 billion, a level at which historical patterns suggest a likelihood of increased volatility, especially when the market is imbalanced, as it was recently the case.
Bitcoin briefly exceeded $43,000 this morning, rising 3.33% in 24 hours
OKX market data on December 14th, Bitcoin briefly rose above $43,000 in the early morning and is now back down to $42,896, with a 24-hour increase of 3.33%.
BTC breaks through $43,000
According to market data, BTC has broken through $43,000 and is currently trading at $43,008.6 with a daily increase of 4.67%. The market is volatile, so please be prepared for risk control.
Michael Saylor: The upgrade of US accounting standards will promote global companies to adopt BTC as a reserve asset
According to Jinse Finance, MicroStrategy founder Michael Saylor stated on X platform that the Financial Accounting Standards Board (FASB) will officially adopt Bitcoin fair value accounting starting in the fiscal year after December 15, 2024. The upgrade of accounting standards will promote global enterprises to adopt Bitcoin as a reserve asset.
Bitcoin breaks through $42,000, up 1.96% in 24 hours
According to OKX market data on December 13th, Bitcoin has risen above $42,000 and is currently priced at $42,041, with a 24-hour increase of 1.96%.
500 BTC transferred from unknown wallet to Binance
According to Whale Alert monitoring, at 19:13:01 Beijing time, 500 BTC (worth $20,586,126) were transferred from an unknown wallet to Binance.
Glassnode: Short-term BTC holders have deposited more than $4 billion in BTC into CEX in the past two days
On December 13th, Glassnode data showed that short-term BTC holders (entities holding BTC for no more than 155 days, referred to as STH) sent $1.93 billion worth of BTC to trading platforms on December 11th, and $2.08 billion worth of BTC on the following day. The last time the daily inflow of BTC into CEX exceeded $2 billion was in June 2022, and analysts believe that this data was a market reaction to the imminent collapse of the CeFi platform Celsius at that time.<br>In addition, the daily trading volume on December 12th also reached the highest level since early July this year. Glassnode also marked several on-chain indicators, indicating that STH may have temporarily reached the limit of the bull market.
Glassnode: Yesterday, short-term BTC holders deposited more than $2 billion worth of BTC into CEX
According to Glassnode data on December 13th, short-term BTC holders (entities that have held BTC for no more than 155 days) sent $1.93 billion worth of BTC to trading platforms on December 11th, and $2.08 billion worth of BTC on the following day. The last time the value of BTC transferred to CEX in a single day was over $2 billion was in June 2022, and it was believed that this data was a market reaction to the impending collapse of CeFi platform Celsius.<br>In addition, the daily trading volume on December 12th also reached the highest level since early July this year.<br>
A Year Of Progress
The interlocking dominos seem to have fully played out. The reason to be very bullish is that the vast majority of significant events in 2023 were good news and the blockchain industry made meaningful, necessary progress.
