Table of contents:
1. Data on large token unlocking this week;
2. An overview of the crypto market, quickly read the rise and fall of popular currencies/capital flows of sectors in the week;
3.#比特币现货ETF Capital inflow and outflow;
4. #sol ana daily transaction fees hit a record high;
5. Forecast of key macro events and financial data this week.
1. This week’s large token unlocking data;
FTN, MRS, #IMX , ALT, APEX, MURA and other tokens will be unlocked in large amounts this week, including:
Fasttoken (FTN) will unlock 20 million tokens at 8:00 on January 21, worth $76.2 million, accounting for 4.67% of the circulation;
Metars Genesis (MRS) will unlock 10 million tokens at 8:00 on January 22, worth $31.4 million, accounting for 11.87% of the circulation;
Immutable (IMX) will unlock 24.52 million tokens at 8:00 on January 24, worth $29.9 million, accounting for 1.43% of the circulation;
AltLayer (ALT) will unlock 240 million tokens at 18:00 on January 25, worth $21.8 million, accounting for 10.39% of the circulation;
ApeX (APEX) will unlock 10 million tokens at 8:00 on January 20, worth $15.9 million, accounting for 18.71% of the circulation;
Murasaki (MURA) will unlock 20 million tokens at 8:00 on January 23, worth $13 million, accounting for 34.84% of the circulation;
Ethena (#ENA ) will unlock 12.86 million tokens at 15:00 on January 22, worth US$10.8 million, accounting for 0.42% of the circulation.
The above time is UTC+8. This week, pay attention to the negative effects of these tokens due to unlocking, avoid spot, and seek short-selling opportunities in contracts. Among them, MRS, ALT, APEX, MURA, etc. have a large proportion and scale of unlocked circulation, so pay more attention.
2. Overview of the crypto market, quick reading of the rise and fall of popular currencies/capital flows in the sector in the past week
CoinAnk data shows that in the past week, the top three net inflows and smaller net outflows of the crypto market were concentrated in the Solana ecosystem, Avalanche ecosystem, #币安智能链 , fan tokens and Layer 2 sectors. In the past week, many currencies have also seen a rotation increase. The top 500 by market value are as follows. TRUMP, XCN, NEW, TOSHI and ELON are relatively high in terms of growth, so we can continue to give priority to trading opportunities in strong currencies.
3. Inflow and outflow of spot ETF funds.
According to CoinAnk data, the U.S. Bitcoin spot ETF had a net inflow of $1.8629 billion last week. The total holdings of the U.S. spot Bitcoin ETF on the chain have exceeded 1.14 million BTC, and now reach about 1.146 million BTC, accounting for 5.78% of the current BTC supply, and the value of the on-chain holdings reached about $120.1 billion. The BTC price also hit a new record high today.
We believe that the cumulative net inflow of US Bitcoin spot ETFs last week was US$1.8629 billion, which shows that the market demand for Bitcoin remains strong. This inflow of funds may reflect investors' confidence in Bitcoin as an asset class and their interest in spot ETF products. The total on-chain holdings data further shows the importance of Bitcoin in the asset allocation of institutional investors.
Some large institutional investors are turning their attention from artificial intelligence chip maker Nvidia to the top cryptocurrency ETFs, a shift that may be related to the market's growing recognition and acceptance of cryptocurrencies. Data shows that Israel Englander of Millennium Management reduced its holdings in Nvidia by 12.5% in the third quarter of 2024, while Yan Huo of Capula Managment reduced it by 27.7% in the third quarter. At the same time, the two high-profile billionaire investors increased their holdings of Bitcoin through BlackRock IBIT, with Englander increasing his IBIT holdings by 12.6 million shares in the third quarter and Yan Huo increasing his holdings by 1.1 million shares. This suggests that some institutional investors may be re-evaluating their portfolios and shifting funds from traditional technology stocks to the cryptocurrency sector, which may be related to their expectations for the long-term growth potential of cryptocurrencies.
4. Driven by the Trump family meme coin, Solana's daily transaction fees reached US$33.3 million, a record high.
Solana network daily transaction fees hit a record high. Data shows that Solana network fees climbed to $33.2 million. This surge was mainly caused by a large number of on-chain transactions triggered by the launch of Trump family-related meme coins TRUMP and MELANIA. Since the launch of these tokens, the average daily on-chain transaction volume of Solana decentralized exchange has continued to remain above $27 billion, ranking first among all first-layer public chains.
We believe that the Solana network’s daily transaction fees have reached an all-time high, reflecting a significant increase in its network activity. Solana surpassed Ethereum to become the dominant chain for DEX trading, with its market share exceeding 30% in the fourth quarter of 2024. This growth was mainly due to the launch of Trump family-related meme coins TRUMP and MELANIA, which triggered a large number of on-chain transactions. The average daily on-chain transaction volume of Solana decentralized exchange continues to rank first among all first-tier public chains. This shows that the Solana network is attracting more users and transaction activity, and the activity and attractiveness of its ecosystem are increasing.
5. Forecast of key macroeconomic events and financial data this week.
Focus on Trump's official move into the White House and the issuance of a series of executive orders; the holding of the Davos World Forum; and whether the Bank of Japan will raise interest rates as scheduled on Friday.
January 20 (Monday): Trump is sworn in as the new US President; US stocks are closed for one day due to Martin Luther King Day; the annual meeting of the World Economic Forum in Davos is held.
January 21 (Tuesday): German Chancellor Scholz speaks at the World Economic Forum; ECB board member Centeno speaks.
January 22 (Wednesday): ECB board member Villeroy de Villeroy delivers a speech; the U.S. Conference Board leading indicator for December changes month-on-month; ECB President Lagarde delivers a speech.
January 23 (Thursday): Bank of England Financial Policy Committee Member Wilkins speaks at Fitch Ratings; the number of first-time unemployment claims in the United States for the week ended January 18.
January 24 (Friday): Bank of Japan Governor Kazuo Ueda holds a monetary policy press conference; European Central Bank President Christine Lagarde delivers a speech; US Markit manufacturing PMI preliminary value for January; US December existing home sales total annualized. The Bank of Japan announces interest rate decision and economic outlook report.
