This week in the crypto space is bustling with activity, from celebrity predictions to project dynamics, and global regulation and investment trends. Every piece of news could be key to a market turning point. Let's review the important information that cannot be missed.
Bitcoin: A 'casino' for the big players, with price predictions flying everywhere.
NBA legend Scottie Pippen made a cross-industry statement, suggesting that Bitcoin will rise to $133,000. Although he did not elaborate on the reasons, the celebrity effect immediately sparked heated discussions in the market. Coincidentally, Matrixport also predicts that Bitcoin may test the $112,000 support level again. The intense clash of bullish and bearish views raises curiosity about whether Bitcoin is set to soar or faces correction pressure.
From the perspective of institutional movements, Strategy Company has spent $2.46 billion, purchasing 21,000 Bitcoins between July 28 and August 3, at an average price of $117,200. In addition, Dutch cryptocurrency service provider Amdax plans to establish a listed company AMBTS, with a long-term goal of buying 210,000 BTC; Japanese real estate company Lib Work announced it will purchase $3.4 million worth of Bitcoin by 2025; even Capital B has completed a $2.6 million funding round just to accumulate more Bitcoin. The substantial investments by institutions seem to express a strong optimism for the long-term value of Bitcoin.
Project progress: Bless mainnet gaining momentum, BTCS introducing new gameplay.
The Bless project in the Solana ecosystem has made new moves, with the official reservation of 10% of BLESS tokens for its mainnet launch. In Phase 0, 100 million TIME tokens will be issued, accounting for 8.5% of the total BLESS supply, with an additional 1.5% allocated for exchange listing budget. Bless adopts a dual-token model of TIME and BLESS, and its unique value capture mechanism is also eye-catching, with 90% of revenue used to repurchase and destroy BLESS, enhancing its scarcity. The token distribution structure of BLESS has also been clarified, with reasonable proportions for investors and community incentives, aiming to build a prosperous ecosystem, undoubtedly painting a picture full of imaginative space for investors.
On the other hand, BTCS announced that it will pay dividends and loyalty rewards in ETH, with a reward of $0.05 worth of ETH per share. This method of paying returns using cryptocurrency is quite unique in the crypto space, providing investors with a new profit model and injecting fresh blood into the market.
Regulation and market: Frequent actions in Asia, new breakthroughs in Hong Kong finance.
The South Korean Financial Services Commission plans to submit a stablecoin regulation bill in October, marking another significant step in cryptocurrency regulation in South Korea. The clarity of policies may bring new order and development opportunities to the South Korean crypto market. Thailand is also not idle, launching a pilot project for cryptocurrency exchange to Thai Baht, which is expected to promote the compliant circulation of cryptocurrency in Thailand and accelerate the integration of cryptocurrency with traditional finance.
It is worth mentioning that CMB International Securities has officially launched virtual asset trading services, which means that traditional financial institutions are further deepening their layout in the crypto field, providing investors with more formal channels to participate in the crypto market, and reflecting the trend of the crypto market gradually being recognized by mainstream finance.
In summary, the current crypto space is intertwined with both bullish and bearish news, presenting both opportunities and risks. Whether it’s the price game of Bitcoin, the potential exploration of new projects, or the market changes brought about by regulatory policies, all provide investors with rich operational space. However, in this ever-changing market, maintaining rationality, closely following the news, and making decisions based on one's own risk tolerance is key to maintaining a long-term foothold in the crypto space. Fellow crypto enthusiasts, which piece of news are you most interested in? How do you plan to position yourself?
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