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Honest Merchant
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Ethereum’s Bullish Signal as Institutions Accumulate Heavily
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China Renaissance Holdings invests $100 million in BNB.
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ChainCatcher reports, citing CoinTelegraph, that Preston Pysh, co-founder of the Bitcoin venture fund Ego Death Capital, stated in a recent podcast interview that early Bitcoin adopters’ skepticism toward institutionalization is unlikely to fade anytime soon. In a conversation with Natalie Brunell of the Coin Stories podcast, Pysh pointed out that institutional involvement in “institutionalized behaviors” related to Bitcoin, such as Bitcoin derivatives trading, has sparked concerns within the Bitcoin community about its long-term impact, with some questioning whether Bitcoin can still serve as a safe-haven asset as it did in the past. Pysh emphasized that the core of Bitcoin culture is to doubt and question everything, and that the way institutions participate will be fundamentally different from individuals, making it difficult for the Bitcoin community to accept. $KAITO #BuyKaitoNow
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According to a report by Jinse Finance, Arkham monitoring data shows that about 10 hours ago, Grayscale increased its holdings by a total of 2,909 ETH through its Ethereum ETF and Mini Trust Fund, with a value of approximately $14.05 million. In addition, Grayscale's Chainlink Trust added 5,542 LINK, and the Bitcoin Mini Trust Fund increased its holdings by 44.277 BTC, valued at $5.17 million. $WBETH #BuyLinkNow
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According to Jinse Finance, OnchainLens monitoring shows that a certain whale address opened a 3x leveraged long position on XPL yesterday, currently with an unrealized profit of approximately $900,000. However, this address still needs to gain $1.9 million more to reach overall break-even. $XPL #BuynHoldNow
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