Bitcoin rose 7.35% in September; 41 BTC addresses were activated after being dormant for 10.7 years

Headlines

▌Bitcoin rose 7.35% in September, the best September in history

Bitcoin rose 7.35% in September, the best September in history.

▌An address holding 41 BTC was activated after 10.7 years of dormancy

According to the on-chain data tracking service WhaleAlert, at around 07:03 Beijing time today, a dormant address containing 41 BTC (US$2,611,481) was activated after 10.7 years.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $63,450.65, with a daily increase or decrease of -2.7%;

ETH's latest transaction price is $2,621.65, with a daily increase or decrease of -0.6%;

BNB's latest transaction price is $571.99, with a daily increase or decrease of -2.3%；

SOL's latest transaction price is 154.16 US dollars, and its intraday increase or decrease is -2.7%；

DOGE's latest transaction price is 0.1163 yuan, and its intraday increase or decrease is -5.8%；

XPR's latest transaction price is 0.6189 US dollars, and its intraday increase or decrease is -4.0%。

Policy

▌TD Cowen: US cryptocurrency legislation is unlikely to pass before the end of the year

Jaret Seiberg of TD Cowen's Washington research group said in a report on Monday that there is little chance of progress in cryptocurrency legislation before 2024. U.S. Congress members are currently in recess and will not reconvene until after the election, leaving only the transition period after the election to pass the bill. Although the possibility of passing the stablecoin bill is high, Congress still needs to prioritize the government funding bill and the National Defense Authorization Act. In addition, the election of Sherrod Brown, chairman of the Senate Banking Committee, has also added uncertainty to crypto legislation.

▌FTX releases the latest progress of the proposed settlement plan for preferred shareholders

FTX Official disclosed on the X platform that FTX creditors are providing the latest progress of the proposed settlement with preferred shareholders. FTX will return 100% of the assets under its control to creditors under the Chapter 11 plan. The Department of Justice is responsible for controlling the distribution of assets seized through criminal cases and has made it clear that preferred shareholders are victims just like creditors under criminal law. FTX and preferred shareholders have competing claims for the proceeds of confiscation. Although the Department of Justice will decide how to reconcile these competing claims, if the Department of Justice accepts the settlement, FTX believes that the plan is fair to both parties and avoids a protracted dispute. In this settlement, FTX requires the Department of Justice to agree to a centralized distribution process through the FTX Ch. 11 plan to speed up distribution to creditors and avoid a lot of redundant expenses.

Blockchain Applications

▌Coinbase will add proof of reserves for cbBTC

According to Cointelegraph, Coinbase will add proof of reserves for the wrapped Bitcoin (wrapped BTC) token cbBTC, aiming to eliminate concerns about Coinbase's lack of transparency.

▌Base protocol leader will also lead Coinbase Wallet

Base protocol leader Jesse Pollak posted on the X platform that in addition to leading the Base team, he will also lead Coinbase Wallet and join the Coinbase executive team. Base will continue to adhere to its core values ​​of serving everyone, being a bridge rather than an island, decentralization and open source. Coinbase Wallet will continue to play a role in the entire on-chain economy and will begin to reflect other Base values ​​in more ways.

Cryptocurrency

▌Sun Yuchen has received 5,374,267 EIGEN through 6 addresses 14 hours ago

According to the on-chain analyst Yu Jin, the leader of the re-staking track EigenLayer (EIGEN) will be listed on major CEXs at 1 pm today, and ETH deposit whales such as Sun Yuchen will also have a harvest time. Sun Yuchen has received 5,374,267 EIGEN through 6 addresses last night (14 hours ago), which is worth up to 21.49 million USDT at the current over-the-counter price of 4 USDT.

▌SUI worth about $120 million will be unlocked today, accounting for 0.642% of the total supply

Today, 4 crypto projects unlocked tokens: SUI unlocked about 64.19 million (about $120 million), accounting for about 0.642% of the total supply, the current circulation is 2.75 billion, and the total is 10.0 billion; ZETA unlocked about 53.88 million (about $36.52 million), accounting for about 2.566% of the total supply, the current circulation is 450 million, and the total is 2.1 billion; MAV unlocked about 36.4 million (about $7.94 million), accounting for about 1.82% of the total supply, the current circulation is 450 million, and the total is 2.0 billion; GAL unlocked about 2 million (about $4.5 million), accounting for about 1.0% of the total supply, the current circulation is 130 million, and the total is 200 million; If the unlocked tokens flow into the market, or there is a tendency to sell, please pay attention to the market changes after the tokens are unlocked.

▌BlackRock executives: Ethereum ETF's performance so far is "disappointing" compared with Bitcoin ETF

According to Fortune, BlackRock's recently launched Ethereum ETF has much lower trading volume and capital inflows than Bitcoin ETF, and the company's digital asset director Robert Mitchnick does not expect this situation to change soon. At the Messari Mainnet Conference in New York, Mitchnick admitted that BlackRock's Ethereum exchange-traded fund (ETHA) has performed "disappointing" so far compared with its Bitcoin ETF. But he urged the audience to compare ETHA to an ETF: "It's very rare for an ETF to reach $1 billion in AUM in seven weeks, as ETHA has. In most cases, it takes years for a new ETF to reach $1 billion."

▌CleanSpark restores 200MW of mining power

Bitcoin mining company CleanSpark has restored 200MW of its 365MW facility in Georgia after Hurricane Helene shut down the facility, and is expected to be fully restored on October 4. The company said the hash rate has reached 22 EH/s and will reach 28 EH/s after full recovery. The hurricane has killed 128 people and left more than 2 million without power. CleanSpark expressed condolences to the affected communities.

Important Economic Dynamics

▌The US dollar index DXY rose and now rose to an intraday high of 100.91

The US dollar index DXY continued to rise in the short term and now rose to an intraday high of 100.91.

▌The three major U.S. stock indexes closed up collectively

The three major U.S. stock indexes closed up collectively, with the Dow up 0.04%, the Nasdaq up 0.38%, and the S&P 500 up 0.42%, and most of the popular technology stocks rose.

▌The probability of the Fed cutting interest rates by 25BP in November has risen to 62.9%

According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in November is 62.9%, and the probability of cutting interest rates by 50 basis points is 37.1%. The probability of a cumulative interest rate cut of 50 basis points by December is 36.7%, the probability of a cumulative interest rate cut of 75 basis points is 47.9%; the probability of a cumulative interest rate cut of 100 basis points is 15.5%.

▌UBS expects the US dollar to fall further and recommends that investors reduce their US dollar holdings

According to News.bitcoin, UBS expects the US dollar to continue to depreciate and recommends that investors reassess their investment portfolios. The bank expects the US dollar to fall in the medium term due to a narrowing interest rate advantage and an increase in fiscal deficits. The dollar has fallen 5% since June, and UBS recommends that investors adopt strategies such as currency hedging and diversification into other currencies and assets such as gold to reduce risk. 10x Research: Speculative traders may have turned from Bitcoin to A-shares 10x Research said in its latest report that the crypto market is undergoing some major shifts. While short-term concerns are obvious, the larger trends may soon overshadow these concerns. Last night's market correction may have stemmed from weak Chinese economic data, which indicated the need for additional stimulus measures. Therefore, speculative traders may have turned from Bitcoin to Chinese stocks for higher beta exposure. There are also concerns about weakness at the beginning of the month. In addition, Bitcoin's short-term technical indicators appear overbought.

Golden Encyclopedia

▌What is Algorithm of Thought (AoT)?

Algorithm of Thought (AoT) is a breakthrough approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for large language models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced and intuitive understanding of the human thought process with a structured and systematic algorithmic approach.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.