陈剑Jason

Last night at 12 AM, the official WeChat account of the Shanghai State-owned Assets Supervision and Administration Commission published an article on learning about cryptocurrencies and stablecoins, immediately followed by a sharp rise in Bitcoin breaking new highs, the mysterious Chinese power 🤔

Recently, many people have opened short positions due to the simultaneous emergence of three negative news: the 8 billion original giant whale, PumpFun issuing tokens, and WLFI issuing tokens. However, the market has gone against expectations and continuously reached new highs, and now it is in a stage of self-isolation and torment.

Yesterday I saw a Douyin blogger say that China's real estate in the first 10 years was a reservoir, and in the next 10 years, stablecoins are a reservoir. Then this morning Greenland jumped into the crypto circle and hit the limit up; it really seems to be the case🤣 I can't take it anymore, the imitation season has really come, I need to open an account for US stocks and Hong Kong stocks to try it out.

The voting results on Polymarket have been manipulated many times. This time, they directly turned a $2.4 bet upside down, causing all the winning bets to lose their stake. There were over $200 million in bets regarding whether Zelensky would wear a suit before July. Just four days before the results were announced, on June 26, Zelensky actually wore a suit during a meeting with Trump in The Hague. Surprisingly, the final result was 'No'. This was due to the fact that the UMA whales, who are the oracle for Polymarket, refused to accept defeat and manipulated the voting results. As a POS mechanism, UMA's results are determined solely based on the choices of the highest stakers, allowing large holders to completely manipulate the outcome. Furthermore, because of the POS reduction mechanism, smaller holders are also forced to go along with the large holders' whims and lie along with them during voting. Otherwise, if the voting results from smaller holders do not 'align with reality', they will be fined.

Currently, UMA's market cap is only $130 million, which means that all the bets on Polymarket, amounting to tens or even hundreds of billions of dollars, rely solely on this $130 million in POS. As long as you can control UMA, it is equivalent to controlling Polymarket, and the large holders of UMA hold as much as 95% of the tokens.

Recently, Bitget has launched a new feature called GetAgent that can analyze the news and technical aspects of a certain cryptocurrency using AI. It provides favorable and unfavorable news in the market, as well as clear resistance and support levels. Additionally, it directly gives take-profit and stop-loss points based on styles like aggressive or conservative, without being vague or ambiguous. After following this a few times, the short-term success rate has been quite high compared to trading based on intuition 😂. In fact, exchanges have a significant advantage in doing this since the data is more comprehensive. This feature is not open yet, but I have received 5 invitation codes. If you like and share this tweet, and comment 'I want it,' I will privately message 5 friends to give it away 🧐.

Ah?

Trump's TruthSocial has submitted a combined cryptocurrency ETF to the SEC, which includes SOL, CRO, and XRP in addition to BTC and ETH. Moreover, there are two other questions: who exactly is CRO, that its holding ratio is even higher than that of XRP?

I haven't had any meat in this market for a long time, and finally I got a bite! 😭

This news is somewhat explosive.. According to the official report from the Russian state news agency, it is estimated that due to sanctions, the export of arms has been hindered, and Russia's largest arms dealer, Rostec, plans to issue a stablecoin on Tron. The renowned MiG fighter jets, AK rifles, and others belong to this arms dealer, @justinsuntron is really benefiting from both sides🤣 with one hand serving as a consultant to the US President and the other hand securing the Russian arms dealer.

"What is a stablecoin" has topped the Douyin hot list at number one. Indeed, those traditional finance bloggers I follow on Douyin have almost all recently released videos about stablecoins. Although from our cryptocurrency perspective, their content seems relatively superficial and rough, it has successfully broken through the barrier.

In the past month, Ethereum's chain has seen a net inflow of 6.3 billion USD, while Base has experienced a net outflow of 5.1 billion USD. As the leader of L2, it seems that funds from Base are being withdrawn on a large scale back to the mainnet.

Recently, the first so-called Solana ETF with built-in staking has been launched. However, perhaps because the issuer is not a well-known institution like BlackRock or Grayscale, there has been little discussion in the market. Many people saw that the price of the token remained unchanged after approval, thinking it was over. Today, I took some time to look into the situation. First of all, this fund is called REX-Osprey Solana Staking ETF, where REX-Osprey is a series of ETF funds launched in collaboration by REX Shares and Osprey Funds, specifically targeting cryptocurrencies, so it has a small management scale and low recognition.

Secondly, what everyone is most curious about is why everyone has been continuously tracking the approval progress of institutions like Grayscale and BlackRock, while this REX-Osprey just suddenly appeared and was approved for launch. This is mainly because they did not adopt the standard ETF process that requires SEC approval (19b-4) like BlackRock and Grayscale, but rather the 1940 Investment Company Act, which has lower thresholds and faster approval speeds. As long as the SEC does not oppose it, it can be completed within 75 days from submission to approval. However, the downside is that because it has not gone through very strict approval, the subsequent disclosure requirements will be much stricter than the regular disclosures of 19b-4, requiring daily disclosures, which will increase management costs. Additionally, it will be subject to double taxation. When the token price rises, it will be regarded as corporate profit, resulting in a 21% corporate income tax being levied. Investors will also be subject to dividend tax and capital gains tax.

Therefore, 19b-4 is more suitable for mature large assets like BTC, while the 1940 Investment Company Act is applicable to Solana and a series of other altcoins.

In short, let's wait for BlackRock and Grayscale to take action.

There is another significant bill, the 'U.S. Blockchain Deployment Act,' worth paying attention to. It has already passed in the House of Representatives and has been submitted to the Senate. Unlike other developments and compliance regulations surrounding blockchain technology, this bill focuses on promoting the application of blockchain, covering federal agencies, the public sector, and private companies. It promotes the implementation of blockchain in various scenarios, including identity, AI, e-commerce, and healthcare. If this bill passes, it could mobilize national resources to address the most criticized issue in the cryptocurrency space: the lack of applications. Currently, various U.S. public chains should be making every effort to qualify for the bidding opportunities that will arise after this bill is implemented. However, with such a large and attractive opportunity, it is not entirely out of the question that the U.S. government might someday directly create a dedicated American blockchain.

Just now, the trading volume of DEX surpassed that of CEX, reaching a historical high of 30%. This is mainly attributed to Binance Alpha, with PancakeSwap alone accounting for 64% of the market share.

Tomorrow, June 30th, BSC will undergo a hard fork upgrade to the Maxwell mainnet. The block time will be reduced from 1.5 seconds to 0.75 seconds, marking BSC's entry into the sub-second public chain club. In addition to improving user experience and making interactions smoother, the difficulty of the clips will also increase significantly.

Tomorrow, on June 30th, BSC will undergo the Maxwell mainnet hard fork upgrade, reducing the block time from 1.5 seconds to 0.75 seconds. From now on, BSC will also join the sub-second public chain club. The shorter block time will not only improve user experience and make interactions smoother, but it will also significantly increase the difficulty of the clips.

According to the historical volatility of Bitcoin, there is basically a big rise or fall every four months, and it's time for the market to show direction again🤔 Teachers, how should we bet this time?

Upbit particularly enjoys the act of throwing a feint, Sahara has postponed for another half hour to 9 PM Beijing time, this kind of operation has occurred several times before. On one hand, it allows other exchanges to clean out the airdrop selling pressure, and on the other hand, it washes out the chips that secondary buyers of spot wanted the Koreans to take over. For example, initially notifying that the market opens at 8:30, many people bought at 8:20, and when the time came, they found that it didn't rise, so they sold again. Then Upbit seizes the opportunity to counterattack with a surprise move.

In my impression of HSK, it has experienced two consecutive occurrences where, whenever a widely circulated 'black report' appears, there is first a panic sell-off, followed by a wave of price increase. The first time was when Seventh Master left with a large amount of unvested options, and the second time was when Hashkey fell into a compliance dilemma and struggled to operate 🤔

Everyone is waiting for the US stock market to rise enough to spill over to the crypto world, but now it turns out that the US stock market has risen enough to spill over to the Hong Kong stock market instead. 🤣 Those trading cryptocurrencies now have a feeling of being like village guardians. Hello, Tree Brother, how are you?