Chen Peiquan, the executive director of Victory Securities, revealed that since the company launched virtual asset trading services, the monthly average turnover has reached 10 million US dollars, and its virtual asset business has been profitable. He believes that the relevant customers will maintain a multiple growth rate next year. Chen Peiquan said that currently, investors mainly invest in Bitcoin, accounting for 80% of the company's overall virtual asset investment. Chen Peiquan also revealed that Victory Securities will integrate its stock and virtual asset platforms next year to achieve a one-stop platform for investors to buy and sell virtual assets. Next year, Bitcoin will experience a halving once every four years, and with the possibility of the Federal Reserve launching an interest rate cut cycle, it is believed that virtual assets will usher in another bull market.

According to market data, BTC has broken through $43,000 and is currently trading at $43,005.4, with a daily increase of 0.59%. The market is volatile, so please be cautious and manage your risks.

Citing Glassnode data, Bitcoin miners have been continuously selling BTC since mid-October. As of December 28th, the balance of Bitcoin in miner wallets decreased by 700 BTC in 24 hours. Compared with the short-term high point on October 22nd, the balance of miners has decreased by 12,700 BTC.

OKX-BTC/USDT is currently trading at $43000.10, with a 24-hour increase of 0.13%.

According to Whale Alert monitoring, more than 483 BTC (approximately $20,794,713) was transferred from an unknown wallet to Kraken.

Raoul Pal, a former Goldman Sachs executive, predicts that the current crypto bull market cycle has just begun and could last for years. He believes that Bitcoin could potentially reach a high of $1 million by 2025. Pal compares the current cycle to the 2016-2017 cycle, which saw a huge influx of liquidity and resulted in a significant rise in digital assets. Despite strong rallies at the end of 2023, Pal suggests that the current bull market cycle is in its infancy and there is still a lot of potential for growth.

Bitcoin rebounded above $43,000 and is currently priced at $43,020.59, with a 24-hour increase of 1.08%.

In this special edition of the State of the Network, we reflect on a year full of riveting data and crucial events through the lens of the research team’s favorite issues from 2023. In the upcoming year, our commitment remains steadfast: to deliver meticulous, actionable insights that empower your decisions in an ever-evolving digital asset world.

According to blockchain data tracking service Whale Alert, at around 21:24 on December 26th Beijing time, a total of 6,999 BTC were transferred to the cryptocurrency exchange Coinbase via 9 transactions from an address starting with "1PWQw", with a total value of approximately $299,158,354.

Whale Alert monitored the transfer of 30,000 BTC (worth $1,276,294,312) from an unknown wallet to Binance.