普京表示准备在新政府领导下进行美俄对话，这可能会改变紧张的关系。

Putin signals readiness for US-Russia dialogue under new administration, potentially transforming strained relations.

在BTC一度创出新高后山寨币齐齐下跌的奇特市场背景下，Defi板块，尤其是其中的头部项目可能迎来了其诞生以来最佳的布局时刻。

批评人士认为，政府的这种大规模清算可能会对Crypto资产市场的稳定性产生长期负面影响。

比特币市场正处于一个有趣的境地，比特币平均价格仍上涨 2 倍，而大多数短期持有者却处于水下。许多波动性指标也被严重压缩，表明即将出现更大的波动。

Tron founder Justin Sun wants to buy Bitcoin held in Germany on the OTC market to prevent market chaos.

Tron 创始人孙宇晨希望在场外购买德国持有的比特币，以防止市场混乱。

ORDI和后面所有那些铭文、符文等代币的关系就好像比特币与后面那些加密货币的关系。

​在 BTC 一度创出新高后山寨币齐齐下跌的奇特市场背景下，DeFi 板块，尤其是其中的头部项目可能迎来了其诞生以来最佳的布局时刻。

在过去一年中，$TON 的价格上涨了 5 倍多，市值跻身前十。生态繁荣的 TON 已然向用户敞开大门。

According to PANews, hedge fund Kerrisdale Capital has disclosed a subtle investment thesis: going long on Bitcoin (BTC) while shorting MicroStrategy stock. The premise is that MicroStrategy, positioning itself as a BTC investment tool, has an unreasonable premium compared to the underlying crypto asset that mainly constitutes its value. Kerrisdale Capital's analysis states, "MicroStrategy's stock price has soared with the recent rise in BTC prices, but as is often the case with crypto assets, things have gotten out of control." Kerrisdale also highlighted a key difference, pointing out that MicroStrategy's stock price implies a BTC value of "over $177,000, or 2.5 times the spot price of BTC." In discussing the reasons behind MicroStrategy's stock price premium, Kerrisdale refuted some views supporting the company's market valuation. The report bluntly states, "The reasons for giving a premium to MicroStrategy's stock are not enough to justify paying more than double the price for the same coin." This statement emphasizes Kerrisdale's stance on MicroStrategy's overvaluation in terms of direct BTC exposure. Since 1989, under the leadership of CEO Michael Saylor, MicroStrategy has been actively accumulating BTC and making it a core pillar of its investment strategy. From August 2020 to 2023, the company conducted significant financial operations to increase its holdings, currently exceeding 214,000 BTC. Kerrisdale's valuation method considers MicroStrategy's enterprise software business and its BTC reserves. The conclusion drawn from the analysis is that although the software business is still in operation, it "no longer contributes meaningful value to the entire enterprise," highlighting the overwhelming impact of BTC on the company's valuation. A key criticism from Kerrisdale is the high premium of MicroStrategy's stock relative to its net asset value (NAV). The report notes, "MicroStrategy's stock premium is 2.6 times, which is exceptionally high." Kerrisdale believes that if MicroStrategy's stock premium rate is adjusted to a more historically consistent level, the stock will experience a significant decline relative to BTC's performance. The report delves into the potential impact of MicroStrategy's financial strategy, including its reliance on leverage and the dilutive effect of its financing mechanisms. Kerrisdale's analysis indicates that while MicroStrategy has successfully increased its BTC holdings through aggressive capital market activities, the dilutive effects of debt financing and stock issuance have caused the number of BTC per share to stagnate. Finally, Kerrisdale Capital estimates, "If the current 2.6 times premium contract is adjusted to a more historically consistent 1.3 times, MSTR's decline relative to BTC will be 50%." This conclusion is drawn after studying the interactions between MicroStrategy's stock premium, BTC holdings, and broader market dynamics.

Grayscale Solana Trust (GSOL) experienced a remarkable market surge, with its share price soaring to $540, far outpacing the Net Asset Value (NAV) per share of $55.48. Despite a slight 0.05% daily uptick in NAV, the trust’s market valuation indicated a robust investor interest, with Assets Under Management (AUM) totaling nearly $49.5 million. This significant […] source: https://coinedition.com/grayscale-solana-trust-in-the-spotlight-as-share-price-surges-to-540/

According to BlockBeats, recent data from Coinglass reveals that Grayscale's Ethereum Trust (ETHE) and Ethereum Classic Trust (ETC) are currently experiencing negative premium rates. The ETHE trust has a negative premium rate of 8.17%, while the ETC trust has a significantly higher negative premium rate of 44.3%. Negative premium rates indicate that the market price of the trust's shares is lower than the net asset value (NAV) of the underlying assets. This situation can occur when there is a decrease in demand for the trust's shares or an increase in the supply of the underlying assets. Grayscale's trusts are popular investment vehicles for institutional investors looking to gain exposure to cryptocurrencies without directly owning the assets. The trusts hold the respective cryptocurrencies and issue shares that represent a portion of the underlying assets. Investors can buy and sell these shares on the secondary market, which can lead to fluctuations in the premium rates. The negative premium rates for Grayscale's ETHE and ETC trusts may be a cause for concern for some investors, as it could signal a lack of demand for the shares or an oversupply of the underlying assets. However, it is important to note that premium rates can be volatile and may not necessarily indicate a long-term trend.

According to BlockBeats, recent data from Coinglass reveals that Grayscale's Ethereum Trust (ETHE) and Ethereum Classic Trust (ETC) are currently experiencing negative premium rates. The ETHE has a negative premium rate of 8.72%, while the ETC Trust has a significantly higher negative premium rate of 40.87%. These negative premium rates indicate that the market price of the shares in these trusts is lower than the net asset value (NAV) of the underlying assets. This situation can be attributed to various factors, including market sentiment, investor demand, and the overall performance of the cryptocurrency market. It is essential for investors to be aware of these negative premium rates as they can impact the potential returns on their investments. Investors should closely monitor the performance of these trusts and the cryptocurrency market to make informed decisions about their investments.

According to BlockBeats, recent data from Coinglass reveals that the Grayscale Ethereum Trust (ETHE) and Ethereum Classic Trust (ETC) are currently experiencing negative premium rates. The ETHE has a negative premium rate of 9.67%, while the ETC Trust's negative premium rate stands at 43.18%. These negative premium rates indicate that the market price of the shares in these trusts is lower than the net asset value (NAV) of the underlying assets. This situation can occur when the demand for the shares decreases or when the value of the underlying assets increases at a faster rate than the shares. Investors should be cautious when considering investments in trusts with negative premium rates, as this could potentially lead to losses if the market price does not recover to match the NAV. However, it is also worth noting that negative premium rates can present opportunities for investors who believe that the market price will eventually align with the NAV, allowing them to potentially profit from the price difference.

据官方公告，基于最新审查，币安将于 2024 年 4 月 3 日 14:00（东八区时间）停止支持杠杆代币服务。 币安将于 2024 年 2 月 28 日 14:00（东八区时间）停止杠杆代币交易对的交易和申购服务，随后终止赎回服务并下架杠杆代币（具体时间线如图所示）。 注意： -币安将于 2024 年 02 月 28 日 14:00（东八区时间）停止交易后，自动移除上述杠杆代币的所有交易挂单，用户将无法再下单； -建议用户提前将持有的上述杠杆代币兑换为其它代币。若用户在 2024 年 02 月 28 日 14:00（东八区时间）停止交易后，仍持有上述杠杆代币，请在下架时间前通过钱包页面或杠杆代币页面进行赎回； -如果用户在对应的下架时间后仍持有上述杠杆代币，币安将根据杠杆代币下架时对应的资产净值（NAV），将其兑换为等值 USDT，并于 24 小时内将 USDT 代币分发至用户账户。分发完成后，将从钱包中移除上述杠杆代币资产。

According to BlockBeats, recent data from Coinglass reveals that the Grayscale Ethereum Trust (ETHE) currently has a negative premium rate of 11.84%. Meanwhile, the Grayscale Ethereum Classic Trust (ETC) has a negative premium rate of 43.08%, and the Grayscale Livepeer Trust (LPT) has a positive premium rate of 176.34%. These varying premium rates indicate the differences in demand and market sentiment for each trust. The negative premium rates for ETHE and ETC suggest that the market price for these trusts is lower than their net asset value (NAV), while the positive premium rate for LPT indicates that its market price is higher than its NAV. The Grayscale Ethereum Trust, Ethereum Classic Trust, and Livepeer Trust are investment products that allow investors to gain exposure to the respective cryptocurrencies without directly owning them. The trusts' performance is tied to the underlying assets, and the premium rates can serve as an indicator of investor sentiment towards these assets.

According to Foresight News, Grayscale has opened private placement subscriptions for some of its cryptocurrency trusts to accredited investors. The trusts include Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust, and Grayscale Stellar Lumens Trust. Subscriptions will be based on the net asset value (NAV) of the trusts. Grayscale's official website shows that the product lifecycle of its trusts currently consists of four stages: private placement, public offering, US Securities and Exchange Commission (SEC) offering, and ETF type.

According to CryptoPotato, BlackRock and Fidelity's spot Bitcoin exchange-traded funds (ETFs) have set a new record by amassing more assets in their first month of trading than any other ETF launched in the U.S. in the past 30 years. The development comes amid a new report from earlier this week that showed IBIT was among the top five of the largest ETFs by inflows this year. Bloomberg Intelligence data shows BlackRock's IBIT and Fidelity's FBTC have each managed to gain over $3 billion in assets within the first 17 trading days of their launch, a feat unmatched by any of over 5,500 ETFs listed. A Bloomberg ETF analyst, Eric Balchunas, highlighted this in a February 8 post, stating that IBIT and FBTC are in a “league of their own.” Previously, the record for the highest assets under management (AUM) in the debut month was held by BlackRock’s iShares Climate Conscious & Transition MSCI USA ETF, which launched on June 8, 2023, and gathered $2.2 billion. According to Balchunas, the BlackRock and Fidelity ETF results are even more remarkable since most other such products on the list were “Bring Your Own Assets” (BYOA) ETFs, implying that one investor was responsible for all the ETF’s AUM. In contrast, BlackRock and Fidelity’s ETFs experienced inflows every trading day since their launch, a phenomenon Balchunas described as “literally unprecedented.” Balchunas also noted that the data excluded ETFs that underwent conversions, like Grayscale’s GBTC, and around 100 mutual funds that converted to exchange-traded funds. He also noted the mass outflows from Grayscale’s Bitcoin ETF, which have been a factor for the spot Bitcoin ETF performance. The Bloomberg ETF analyst noted competition since ten spot Bitcoin ETFs launched on the same day. The ARK 21Shares’s spot Bitcoin ETF (ARKB) and Bitwise (BITB) ETFs ranked 20th and 22nd, respectively. IBIT and FBTC have gained an advantage over the Grayscale Bitcoin Trust (GBTC), the largest fund by assets under management, in at least two liquidity metrics, according to JPMorgan. The Hui-Heubel ratio, a proxy for market breadth, is approximately four times lower for BlackRock and Fidelity ETFs than GBTC, indicating greater market breadth for the former, JPMorgan says. Additionally, the deviation of ETF closing prices from their net asset value (NAV) has approached that of the SPDR Gold Shares ETF for BlackRock and Fidelity’s ETFs, implying improved liquidity. In contrast, GBTC’s deviations remain higher, suggesting lower liquidity than BlackRock and Fidelity’s ETFs.

According to CoinDesk, JPMorgan's recent research report indicates that Blackrock and Fidelity spot bitcoin exchange-traded funds (ETFs) already have an advantage over Grayscale in terms of certain liquidity metrics linked to market breadth. Despite outflows from Grayscale's GBTC slowing down in the fourth week following approval by the U.S. Securities and Exchange Commission (SEC), the fund is expected to lose more funds to the newly created ETFs, particularly Blackrock and Fidelity products, if it doesn't significantly reduce its fees. Grayscale charges the highest fees among spot bitcoin ETF issuers. Although it lowered its 2% management fee to 1.5% during its conversion to a spot bitcoin ETF, it remains more expensive than its competitors. JPMorgan analysts, led by Nikolaos Panigirtzoglou, noted that Blackrock and Fidelity ETFs already have an advantage over GBTC in terms of two liquidity metrics. The first is the bank's proxy for market breadth based on the Hui-Heubel ratio, which is about four times higher for GBTC than for Blackrock and Fidelity ETFs. The second metric is based on the average absolute deviation of ETF closing prices from net asset value (NAV). In the last week, this metric showed that the ETF price deviation from NAV for Fidelity and Blackrock spot bitcoin ETFs approached that of the GLD Gold ETF, implying a significant improvement in liquidity, while the deviations for the GBTC ETF remained high, implying lower liquidity.