Cryptocurrency intelligence company Glassnode has announced that it will abandon projects related to cryptocurrency taxation and instead focus on new solutions for institutional investors and DeFi. On November 6th, Glassnode announced the sale of its cryptocurrency tax platform, Accointing, to European cryptocurrency compliance provider Blockpit. A spokesperson stated that Glassnode will exit the cryptocurrency taxation field by selling Accointing to Blockpit, allowing the company to focus on providing new intelligent solutions for institutional clients in the digital asset space.

According to Whale Alert monitoring, at 13:19:07 Beijing time, 1,250 BTC ($43,605,596) was transferred from an unknown wallet to Binance.

Core Scientific announced an update on its operations in October 2023. The company produced 910 Bitcoins through its own mining machines in October. As of the end of the month, the company operated about 145,000 of its own Bitcoin mining machines, accounting for about 73% of the total number of machines, with a total computing power of 15.1 EH/s. In addition to self-mining, Core Scientific also provides data center hosting services, technical and operational support for about 53,000 customer-owned hosted Bitcoin mining machines. As of October 31, they accounted for about 27% of the Bitcoin mining machines operating in the company's data centers. Customer-owned machines produced about 417 Bitcoins in October, including Bitcoin rewards paid to the company based on profit-sharing agreements. 

According to a report released by CoinGecko, as of November 1, 2023, the top 14 listed Bitcoin mining companies held a total of 38,903 BTC, which accounted for 0.18% of the BTC supply, much lower than MicroStrategy's 152,333 BTC holdings. Currently, the top 14 Bitcoin mining companies hold a total of 38,903 BTC. However, this only accounts for 0.18% of the maximum Bitcoin supply (21 million), far lower than MicroStrategy's 152,333 BTC holdings. Marathon Digital, Hut 8 Mining Corp, and Riot Platforms are the top three listed Bitcoin mining companies with the most Bitcoin holdings. These three companies collectively hold 30,401 BTC, accounting for 78% of the total BTC holdings of leading mining companies. The top three Bitcoin mining companies each hold more than 3,000 BTC. In contrast, the remaining 11 companies each hold less than 3,000 BTC, with a total of 8,502 BTC.

According to data disclosed by Ordinals Wallet, the 24-hour trading volume of the Bitmap land in the Metaverse has exceeded 1 BTC. It is reported that the developer of the Bitmap protocol is blockamoto. After the protocol was launched, Ordinalswallet officially developed a map based on Bitmap for duplication checking and engraving.

Investors are continuing to pour money into the cryptocurrency market, with crypto funds experiencing their best run of inflows since the 2021 bull market, according to a report by CoinShares. Investment vehicles holding cryptocurrencies saw $261 million of net inflows last week, marking six consecutive weeks of positive influx totaling $767 million. Bitcoin funds remain dominant, bringing in most of the inflows, while Ether funds saw their largest inflows since August 2022. The recent stretch of inflows signals rising demand for crypto assets among institutional investors.

According to a report released by CoinGecko, as of November 1, 2023, the top 14 listed Bitcoin mining companies hold a total of 38,903 Bitcoins, which is 0.18% of the maximum supply of 21 million Bitcoins. This is much lower than MicroStrategy's holdings of 152,333 Bitcoins. Marathon Digital, Hut 8 Mining Corp, and Riot Platforms are the top three listed Bitcoin mining companies with the most Bitcoins, holding a total of 30,401 BTC, which is 78% of the total Bitcoin holdings of leading mining companies. The top three Bitcoin mining companies hold over 3,000 Bitcoins each, while the remaining 11 companies hold less than 3,000 Bitcoins each, totaling 8,502 BTC.

According to Blockware Solutions and Glassnode data, the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (equivalent to 0.028 BTC at the current price of $35,115) has increased to a historical high of 8 million. Blockware claims that this number may exponentially increase as Bitcoin continues to monetize, which is a long-term bullish development for cryptocurrencies. Monetization theoretically refers to the process of creating income potential from non-revenue generating assets.

Animoca Brands co-founder Yat Siu said that the market's enthusiasm for the expected launch of a Bitcoin spot ETF has not only pushed up the price of Bitcoin, but also reignited people's enthusiasm for blockchain games. Yat Siu said: "Token value is a way to build confidence in users and utility. This is not just about making money, but also about feeling confident about what you own." Yat Siu explained that measuring the growth and confidence of the GameFi sector can be done by closely monitoring on-chain activities. In addition, Yat Siu believes that if a spot Bitcoin ETF product is approved, it will have incredible benefits for the entire industry, increase the legitimacy of the industry, and attract a large amount of new investment from traditional financial institutions.

Bitcoin mining service company Luxor said that its upcoming Bitcoin hash rate support product should not be compared to the failed products of BlockFi or Celsius because Luxor's product returns come from proof of work (PoW) and not from a "Ponzi scheme". Luxor's product allows investors to provide Bitcoin as collateral to Luxor to obtain a portion of the loan repayment, and then Luxor lends it to other miners for their operations; returns are generated when hash rate is "locked" by purchasing it at a discounted price from Bitcoin miners and selling it at a higher price. The Bitcoin rewards from mining come from that hash rate. Luxor expects investor returns to be between 10% and 13%. This process will be managed through Luxor's upcoming hash rate market. (Cointelegraph)

Robert Kiyosaki has predicted that Bitcoin's price is going to reach $100,000. Michael Saylor is aiming for $1 million. Is it a good time to start buying?

According to data from the Hong Kong Stock Exchange, as of November 2, 2023, the asset management scale of Southern Dongying Bitcoin Futures ETF (HK:3066) has risen above $50 million and is currently $50.79 million. In addition, the asset management scale of Southern Dongying's Ethereum Futures ETF (HK:3068) is $8.63 million.

According to BTC.com, there are currently 123,330 unconfirmed transactions on the Bitcoin network, with a total network hash rate of 472.96 EH/s and a 24-hour transaction rate of 8.30 transactions/s.

Data shows that 161.74 BTC have flowed into exchange wallets in the past 24 hours, 7523.60 BTC have flowed into exchange wallets in the past 7 days, and 4145.07 BTC have flowed into exchange wallets in the past 30 days. As of the time of publication, the total balance of exchange wallets is 1,834,433.38 BTC.

Dan Morehead, founder of Pantera Capital, said that the performance of Bitcoin will outperform stocks, real estate, and bonds. (Bitcoin News)

According to OKX market data on November 5th, Bitcoin fell below $35,000 and is now priced at $34,972.97, with a 24-hour decrease of 0.80%.

MicroStrategy CEO Michael Saylor stated that Bitcoin provides an innovative strategy for enterprises to preserve capital and create shareholder value. He pointed out that companies can use Bitcoin to leverage their balance sheets and break free from the destructive cycle of expensive acquisitions, buybacks, dividends, and debt to achieve this goal. Michael Saylor stated that a major dilemma in today's market is the existence of the "Big Seven." According to him, these seven companies are creating all shareholder returns, while the other seven thousand companies are struggling to create shareholder value. MicroStrategy's secret is that they are leveraging their balance sheet and profit and loss (PnL). He pointed out that his company has over $5 billion in assets on its balance sheet, and Bitcoin is growing at three to four times the cost of capital.

On November 5th, according to market data, the ETH/BTC exchange rate briefly rebounded above 0.054 and is currently trading at 0.05396, with a 24-hour increase of 2.00% and a 7-day increase of 3.04%.

According to Glassnode's latest on-chain weekly report, the digital asset market has achieved impressive returns in 2023, with the performance of BTC and ETH significantly outperforming traditional assets. Their performance has exceeded that of gold by 93% and 39%, respectively, at their highest points. The market correction of these two major digital assets is significantly smaller than in previous cycles, indicating investor support and positive capital inflows. The Altseason indicator shows the first significant increase against the US dollar since the high point of this cycle. However, it is worth noting that this occurred against the backdrop of Bitcoin's continued dominance, which has risen from a cyclical low of 38% at the end of 2022. Bitcoin's market value has grown 110% so far this year, while the market value of altcoins has grown 37%.

Tim Buckley, Chairman and CEO of asset management company Vanguard Group, stated that the company will not join the competition for Bitcoin ETFs, as Vanguard claims to focus on asset classes with intrinsic value and the ability to generate cash flow, such as stocks and bonds.