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Interview with Loren Chai, Founder of IOTEX (Enter here) Launch of ioID, a new identity verification technology for DeFi (Enter here) "Actively supporting developers... Expanding the ecosystem" - Without mentioning World "Korea, a promising market... Expecting future cooperation" I started writing to create a title! I started writing to create a title! I started writing to create a title! I started writing to create a title! And after writing the usual plain text Reintroducing the title And the main text Last subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitleLast subtitle
The Iranian government expressed its welcome regarding the agreement to suspend the attack by Israel and Hezbollah before the ceasefire. According to foreign reports such as AFP and Reuters on the 27th (local time), Esmail Baghaei, Iran's foreign ministry spokesperson, expressed welcome for the news that Israel decided to suspend its 'attack' on Lebanon after the ceasefire took effect, stating, "We welcome it," and "We strongly support the resistance of the Lebanese government and people." The temporary ceasefire agreement between Israel and Hezbollah was reached the day before. The 60-day conflict is suspended, and both sides are urged to come to the table in southern Lebanon. Iran has been supporting Hezbollah with weapons and money during its long-standing confrontation with Israel. Reporter Shin Yong-hyun
The Federal Reserve (Fed) discussed a plan to cut the Reverse Repo rate by 0.05 percentage points at this month's monetary policy meeting. According to the minutes of the Federal Open Market Committee (FOMC) released on the 26th (local time), some members stated that "if the Reverse Repo rate is cut by 0.05 percentage points, the rate will be aligned with the lower end of the target rate range," adding that "this measure could slightly reduce the downward pressure on short-term money market rates." The current Reverse Repo rate is 4.55%%, which is 0.05 percentage points higher than the lower end of the target rate range of 4.5%%. The Reverse Repo is a financial transaction where the Fed borrows money from financial institutions to control short-term funds, providing government securities in return at a fixed rate. From the perspective of financial institutions, it is a way to safely lend money to the Fed and earn interest. As the Fed continues its quantitative tightening for the second year, the funds invested in the Reverse Repo facility have decreased from a peak of $2.6 trillion at the end of 2022 to about $1.5 trillion currently. However, the pace of decline has been slowing recently. Lorie Logan, President of the Federal Reserve Bank of Dallas, stated, "Even if the Reverse Repo balance does not decrease in a situation where the rate is close to the target rate, lowering the rate may be appropriate." This is to maintain stability in the short-term money market. Citigroup analysts predicted that this discussion could lead to actual adjustments in the next month or January next year. If the Reverse Repo rate rises, financial institutions are more likely to turn funds into the market instead of depositing them with the Fed. This is soon linked to corporate loans, bond investments, etc., increasing market volatility. Kenneth Goldberger, a strategist at TD Securities, analyzed that "the Fed is preparing to adjust the Reverse Repo rate if there is pressure on the short-term money market rate at the end of the month or year." However, he added, "The possibility of rapid changes is low when considering the recent decline in Reverse Repo balances." On this day, the amount of funds invested in the Reverse Repo facility by 51 institutions was recorded at $148.8 billion (approximately 207.7 trillion won), the lowest since the 5th. Reporter Im Dae-yeon
Over $4 billion in funds were reportedly inflowed into the Ethereum (ETH) spot ETF in the United States before its launch. According to Farside Investor on the 27th (local time), the day before, the Ethereum spot ETF in the U.S. recorded an inflow of approximately $4.06 billion (about 567 billion KRW). This marks the third consecutive day of inflows since the 22nd. On this day, approximately $5.01 billion was inflowed into BlackRock Ethereum Trust (ETHA), and about $1.63 billion was inflowed into Grayscale Ethereum Trust (ETH). Conversely, Grayscale ETHE recorded an outflow of approximately $2.01 billion, and Fidelity FETH also showed an outflow of about $170 million. Additionally, 21Shares CETH and Invesco QETH recorded outflows of 280 million and 120 million, respectively. Other products had no inflows.
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According to the Token Mindshare (a chart quantifying the influence of specific tokens in the virtual asset market) by the AI-based search platform Kaito, the top five keywords related to virtual assets that people are most interested in on the 26th are Bitcoin (BTC), Dogdog (DOG), Moodeng (MOODENG), Gigachad (GIGA), and OKB. On this day, Bitcoin is being traded at 67,000 dollars, down 1%% compared to the previous day in the Binance Tether (USDT) market. A few days ago, Bitcoin, which had surpassed 69,000 dollars and was heading towards 70,000 dollars, has recently turned downward again. Especially today, as Israel carried out a retaliatory attack on Iran, geopolitical risks arose, and Bitcoin's price fell to as low as 66,000 dollars. The Bitcoin-based altcoin 'Dogdog (DOG)' also attracted a lot of interest from investors. DOG is a project created during the Bitcoin boom last April. At one time, Bitcoin-based alt projects received great attention, and DOG also surged about 200%% in June. However, it is currently struggling in terms of price. DOG is being traded at 0.004 dollars, down 6%% compared to the previous day based on the CoinMarketCap standard. Another altcoin, Moodeng, is also receiving significant attention. Moodeng, an altcoin launched with the motif of the Korean animal 'Moodeng', surged greatly as it was listed on the Binance gift market on the 25th. At that time, Moodeng soared over 100%% along with the news. Currently, Moodeng has risen 200%% in the last 24 hours, reaching 0.22 dollars. Besides this, investors are also showing interest in Gigachad, OKB, TRON (TRX), Binance Dollar (BUSD), Aptos (APT), and Fantom (FTM).
Ripple (XRP) announced on the 26th that it has introduced abrdn's money market fund (MMF) to the XRP Ledger through a collaboration with the UK digital asset exchange Archax. The MMF, which is part of abrdn's liquidity fund (Lux) with a size of approximately 3.8 billion dollars (about 5 trillion 300 billion won), is the first MMF introduced to the XRP Ledger. Through this, Ripple aims to make its XRP Ledger a hub for real-world asset (RWA) tokenization and decentralized finance (DeFi). Initially, Ripple plans to allocate 500 million dollars (approximately 70 billion won) to abrdn's Lux fund as tokens. Markus Infanger, Vice President of RippleX, stated, “The introduction of abrdn's MMF to the XRP Ledger shows the process of RWA tokenization for operational efficiency. Through collaboration with Archax, financial institutions like abrdn can utilize blockchain and digital asset technology effectively.”
The sharp decline of Bitcoin (BTC) has intensified, with analysis indicating that Bitcoin's price is moving completely contrary to market expectations. On the 25th (local time), the asset analysis company Santiment stated via X (Twitter) that "Bitcoin's price is moving contrary to the belief of many investors." Specifically, Santiment explained, "When Bitcoin hit a peak of $92,000 on the 13th, a large amount of selling pressure emerged, and skepticism was prevalent in the market. However, after this, Bitcoin recorded a rapid rise to $99,000. Conversely, when Bitcoin hit $99,500, most expected it to reach $100,000, but it then declined." Furthermore, Santiment urged, "Traders should actively counter their opinions in social media and invest accordingly." As of 7:59 AM on the 26th (Korean time), Bitcoin is trading at $94,332, down 3.78%% compared to the previous day, based on CoinMarketCap.
Elon Musk, the CEO of Tesla, posted on his X (formerly Twitter) on the 25th (local time) a picture of a Shiba Inu dog wearing a mask along with the phrase "Dogecoin (DOGE) is inevitable." Meanwhile, DOGE was trading at 0.40065 dollars, down 2.78%% compared to the previous day, based on the Binance Tether (USDT) market on the 26th at 02:50.
Bitcoin (BTC) temporarily rebounded to 95,000 dollars. At one point, BTC was trading at 94,969 dollars, down 1.05%% from the previous day based on Binance Tether (USDT) market as of 02:23 on the 26th.
Justin Sun, the founder of TRON (TRX), announced on the 25th (local time) via X (formerly Twitter) that "TRON founder is pleased to invest $30 million in World Liberty Financial (WLFI), a decentralized finance protocol led by Dipai Protokol." He also stated, "The United States is holding its position with Blackchain Hub, and Bitcoin (BTC) is benefiting from the Donald Trump effect."
The scale of Dogecoin (DOGE) gift settlement surged to 4.6 billion dollars as of November 23 (local time), with some traders suggesting the possibility of DOGE receiving a price adjustment. According to the cryptocurrency media outlet Cointelegraph on the 25th (local time), traders explained that "from March 20 to 28, DOGE's gift settlement reached 2.3 billion dollars, with DOGE's price soaring by 82%%, but then a forced liquidation occurred due to excessive leverage, dropping by 40%%." Furthermore, they added, "From the 3rd to the 23rd of this month, DOGE's record 224%% surge could lift the price movements of March to April," indicating that "there is a possibility of approaching the cycle peak."
Eric Balchunas, a Bloomberg ETF analyst, announced on the 25th (local time) via X (formerly Twitter) that "First Trust, a U.S. ETF operator, has submitted an application for a Bitcoin (BTC) spot ETF, making a significant entry into the Bitcoin spot ETF competition." The Bitcoin spot ETF is structured to use options to achieve its target returns while limiting both downward and upward volatility as an exposure product. Eric Balchunas predicted, "In the next 6 to 12 months, dozens of similar products could be launched in the market." He added, "About 90%% of these products are expected to be based on the Elinoyju Hinton model."
Pumppump, a platform generating Valkoin based on Solana (SOL), has suspended its live streaming feature. Issues arose with the misuse by some users and the resulting complications in management. According to a report from the crypto media outlet Gopax on the 25th (local time), Pumppump announced on its official homepage, "Since the launch of live streaming, we have been striving to monitor inappropriate content, but recently, as the number of live streams surged, it became difficult to manage, and we could not completely block inappropriate content. Therefore, we have decided to suspend live streaming." According to the information shared with the community, it was conveyed that if a Valkoin generated by oneself could not be traded at a specific market price, drastic measures would be taken. Influencers also voiced criticism regarding this. View Security stated via X (Twitter), "Live streaming should be immediately terminated. This is uncontrollable," they said.
Journalist Eleanor Terrett reported on the 25th (local time) via X (formerly Twitter) that "US asset management company WisdomTree has applied for a Ripple (XRP) ETF registration with the US Securities and Exchange Commission (SEC)," and stated that "WisdomTree's assets under management exceed $100 billion."
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On the 21st (local time), Reuters reported that "companies like Ripple (XRP), Klaytn, and Seoul are competing for a seat on the 'Trump Pseudo-Assets Committee,' one of the pledges of Donald Trump's presidential campaign." The media stated, "Currently, the composition and personnel placement of the committee are being discussed, with expectations that Paradigm and Andreessen Horowitz (a16z) will secure a seat." It further explained, "Coinbase is also interested in participating in the committee," adding that "the Pseudo-Assets Committee is likely to be launched under the National Economic Council." It added that "it is expected to play a role in areas such as digital asset policy, Bitcoin (BTC) strategy preparation, and cooperation on pseudo-asset legislation."
Matt Gaetz, who was once classified as a friendly asset, has ultimately withdrawn his nomination for the U.S. Attorney General. He failed to dispel suspicions of sexual relations with minors. On the 21st (local time), Matt Gaetz announced through his X that "I will not consider taking the position of Attorney General. My standards are causing significant harm to the personnel tasks of the administration." On the other hand, Matt Gaetz has shown a friendly stance towards virtual assets, such as proposing a bill to allow tax payments using Bitcoin (BTC) in June this year.
Charles Schwab, the largest brokerage in the United States, stated that if appropriate regulations arise, they plan to offer virtual asset (cryptocurrency) trading. On the 21st (local time), Rick Wurster, CEO of Charles Schwab, mentioned in an interview with Bloomberg, "If U.S. regulations make virtual asset trading easier, we will offer it," adding, "We are preparing for a change in the regulatory environment." He continued, "Virtual assets have attracted a lot of interest and money from many people. It feels strange not to buy virtual assets," while emphasizing, "Charles Schwab currently has no plans to invest in virtual assets, but supports customers who want to invest."
The price of Bitcoin (BTC) has surged, leading to increased trading activity, and the hashrate has reached an all-time high. On the 22nd, the online data analysis platform CryptoQuant reported that 'CryptoDan' stated, "Currently, Bitcoin traders are more active than ever, turning the trading machine. Since July, the hashrate has been on an upward trend." Furthermore, it was noted that "recently, due to the influence of Donald Trump's election as the U.S. president, trading activity within the U.S. has become more active." On the other hand, Bitcoin was traded at 98,200 dollars on the Binance market, a 3.6%% increase compared to the previous day.