Matrixport Report: Bitcoin holders’ wealth to increase by $500 billion in 2023
According to a Matrixport report, Bitcoin holders' wealth is expected to increase by approximately $500 billion by 2023. The report attributes this growth to a decrease in US inflation, which has dropped from 8% to 3.1%, and is expected to further drop to 2% by 2024. Additionally, Bitcoin miners limit the supply of new Bitcoin during halving cycles, resulting in a new high for Bitcoin six months after each halving, which is expected to occur again in April of next year.The report also notes that despite the Federal Reserve's guidance to cut rates by 75 basis points in 2024, the gap between the federal funds rate and the consumer price index remains significant at 220 basis points. With the support of the macroeconomic environment, it is expected that the price of Bitcoin will increase in 2024. The report also analyzes the high Bitcoin funding rate, indicating traders' expectations of future price increases, and the potential impact of the approval of a Bitcoin spot ETF on the market. Although Bitcoin has been in a consolidation range since December 8, it is expected that its support level ($40,000) will remain stable with the approval of a Bitcoin spot ETF in early 2024.The report also focuses on the development of decentralized finance (DeFi), which underperformed in 2023 overall, but saw significant growth in Lido's total locked value (TVL), which increased from $6 billion to $20 billion. In addition, the discount of Grayscale Bitcoin Trust (GBTC) narrowed from -47% to -8%, and its price increased by 326%, making it a highlight of the year's trading.
Phantom Wallet releases promotional video and will integrate Bitcoin network
Phantom wallet released a 12-second promotional video on X, indicating that it will integrate the Bitcoin network.
Human Rights Foundation donates $500,000 to 18 Bitcoin development projects around the world
Human Rights Foundation will donate $500,000 to support 18 global Bitcoin development projects.
The Economist Acknowledges Bitcoin as a "Useful Diversifier" for Investment Portfolios
The Economist has changed its stance on Bitcoin, now referring to it as a "useful diversifier" for investment portfolios. This marks a significant turning point as the publication previously claimed that digital assets were too volatile and associated with illegal activities. Despite facing challenges such as regulatory crackdowns and the impact of higher interest rates in 2022, the cryptocurrency industry, particularly Bitcoin, has proven to be resilient due to its technology and independence from traditional investments. Leading fund managers are now submitting applications to introduce Bitcoin Spot exchange-traded funds, which could lead to a surge of funds flowing into BTC.
Matrixport Report Shows Bitcoin's 150% YTD Gain, But Coinbase and BTC Miners Outperform
According to a recent report by Matrixport, Bitcoin has seen a YTD increase of over 150%, outperforming the Nasdaq by over 53%. However, other crypto firms such as Coinbase and Bitcoin miners have seen even bigger gains, with Coinbase climbing over 333% and Bitfarms Ltd experiencing a jump of 601% in the past 12 months. Matrixport suggests that a diversified portfolio including these companies could see potential gains of up to 572% if Bitcoin hits $70,000. The report also highlights the surge in Bitcoin transaction fees due to renewed interest in non-fungible tokens (NFTs). Matrixport remains bullish on Bitcoin, predicting a price of $125,000 by the end of 2024.
The number of Bitcoin Lightning Network nodes reaches 14,639
The number of Bitcoin Lightning Network nodes has reached 14,639, a decrease of 0.05% compared to 30 days ago. The Lightning Network capacity is 5,020.87 BTC.
ARK trims holdings of Grayscale Bitcoin Trust as discount narrows and BTC approaches $43K
ARK, led by Cathie Wood, has sold 809,441 shares of Grayscale Bitcoin Trust (GBTC) for around $28 million as bitcoin approaches $43,000. This brings the investment firm's remaining GBTC shares to 3.4 million ($117.4 million), down from a peak of 9 million shares in July 2021. ARK purchased the GBTC shares at an average cost of $24.08, making a profit on this sale as GBTC currently trades at $34.54. Bitcoin is currently trading above $42,900, up 17% in the last 30 days.
Currently, 1.87 million addresses have accumulated approximately 730,000 BTC in the range of $41,200-42,400.
According to on-chain analyst Ali, data shows that within the current price range of $41,200-$42,400 for Bitcoin (excluding the key supply area), 1.87 million addresses hold a total of 730,000 BTC. If the market continues to decline, these holders may choose to sell to reduce losses, and the next demand area could be in the range of $37,500-$38,700, where approximately 1.28 million addresses hold around 553,000 BTC.
Bitcoin network fees fall back to 160 sats/byte
Mempool data shows that Bitcoin network fees have dropped to 160 sats/byte, with the lowest transfer fee being about $8.
716 BTC transferred from Binance to unknown wallet
According to WhaleAlert monitoring data, at 17:17 Beijing time, 716 BTC (29,408,534 US dollars) were transferred from Binance to an unknown wallet.
BTC drops below $41,000
The market shows BTC has fallen below $41,000 and is currently trading at $40,994.9, with a daily decline of 2.19%. The market is volatile, please manage your risks.
A History of Bitcoin Transaction Dust & Spam Storms
A historical analysis of spam attacks conducted on the Bitcoin network. A well known feature of Bitcoin is that if you want to send money, no one can stop you from creating a valid transaction and broadcasting it onto the network. The flip side of this feature is that you can't stop anyone from sending money to you.
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 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%.
Volume 161: Digital Asset Fund Flows Weekly Report
Continued inflows at US$43m, Blockchain equities see largest inflows on record
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.
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.
