BTC breaks through $98,000, Tether mints $3 billion USDT stablecoin

Headline

▌BTC breaks through $98,000

The market shows that BTC breaks through $98,000 and is now at $98,015.81, with a 24-hour increase of 0.41%. The market fluctuates greatly, so please do a good job of risk control.

▌Tether mints an additional $3 billion in USDT stablecoins

According to data from Arkham Intelligence, $2 billion in USDT was minted on the Ethereum blockchain, and another $1 billion in USDT was minted through continuous transactions on the Tron network.

Since November 8, 2024, Tether has minted about $13 billion.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $97,985.14, with a daily increase or decrease of +0.0%;

ETH's latest transaction price is $3,362.29, with a daily increase or decrease of -1.3%;

BNB's latest transaction price is $659.55, with a daily increase or decrease of +1.1%；

SOL's latest transaction price is 259.17 US dollars, with a daily increase or decrease of +1.1%；

DOGE's latest transaction price is 0.4273 yuan, with a daily increase or decrease of +9.2%；

XPR's latest transaction price is 1.42 US dollars, with a daily increase or decrease of -1.2%.

Policy

▌Coin Center Research Director: Investor Protection and Regulatory Clarity Could Boost Crypto Industry

Coin Center Research Director Peter Van Valkenburgh expects a clearer regulatory framework for centralized markets and stablecoin issuers to emerge. The optimism stems from the new government’s likely focus on fostering innovation in traditional financial applications of cryptocurrencies.  

Meanwhile, streamlined investor protection and regulatory clarity could boost the cryptocurrency industry. However, he stressed the need to remain vigilant to ensure that such measures do not inadvertently stifle the rights of developers and users in decentralized systems.

▌French Users Banned from Polymarket Prediction Market

Polymarket has blocked French users and warned against attempts to circumvent the block. According to a social media post, Polymarket now has French users on its restricted user list. Weeks after the country’s gambling regulator allegedly said it would ban prediction markets, news has emerged that French users are now unable to access Polymarket. However, some French Polymarket users on the social media platform X said they were still accessing the prediction market through a virtual private network (VPN) application.

Blockchain Applications

▌The Times discusses whether pension funds should invest in Bitcoin

According to Bitcoin News, a British plan will allocate 3% of pension funds to Bitcoin, but many people say that Bitcoin is too volatile and not suitable for pension funds, but many people also believe that Bitcoin is "digital gold" and worth investing.  

For the above reasons, The Times published an article discussing whether pension funds should invest in Bitcoin for discussion.

Cryptocurrency

▌Bitcoin ETF sets new record in Brazil

As the price of Bitcoin approaches $100,000, the demand and price of Bitcoin exchange-traded fund (ETF) shares on the Brazilian Stock Exchange have soared. Hashdex, the first cryptocurrency ETF launched on B3, hit an all-time high with a net asset value of nearly $689 million. BITH11, an ETF offered by Hashdex that provides 100% exposure to Bitcoin, hit an all-time high with a net asset value of nearly $259 million. Every cryptocurrency ETF that includes Bitcoin has hit a new all-time high. Only seven ETFs failed to do so, instead focusing on ETH and other areas of cryptocurrency, such as decentralized finance, non-fungible tokens (NFTs), and Web3.

▌Analyst: Long-term BTC holders show signs of growing greed

According to crypto analyst Ali (@ali_charts) who posted on the X platform, long-term BTC holders show signs of growing greed, and historically, this behavior suggests that BTC may take 8-11 months to reach a market top. If the trend continues, a potential peak may be seen between June and September 2025.

▌WBTC supply on Ethereum decreased by 5,844 in one week

On November 16, the supply of WBTC on Ethereum was 146,734. By November 24, this number had dropped to 140,890 WBTC, a decrease of 5,844. More interestingly, the Ethereum transaction monitor on btcparser.com marked a destruction transaction of 5,182.34 WBTC. The operator of btcparser.com said: "It is very rare for such a large amount of WBTC to flow on the Ethereum chain. Interestingly, this time they seem to have been burned."

▌SAND broke through $0.8, with a 24-hour increase of 81.2%

The market shows that SAND broke through $0.8 and is now quoted at $0.7898, with a 24-hour increase of 81.2%. The market fluctuates greatly, so please do a good job of risk control.

▌The entire network has exploded $317 million in the past 12 hours, mainly in long positions

Data shows that the entire network has exploded $317 million in the past 12 hours, of which long positions exploded $227 million and short positions exploded $89.5236 million. BTC exploded $65.5598 million and ETH exploded $21.4753 million.

Important Economic Dynamics

▌Founder of Real Vision: New Treasury Secretary Scott Bessent favors using a weak dollar and low oil prices to boost U.S. and global economic growth

Raoul Pal, former Goldman Sachs executive and founder of macro research firm Real Vision, posted on social media, "New Treasury Secretary Scott Bessent favors using a weak dollar and low oil prices to boost U.S. and global economic growth. That's all you need to know. It will boost financial conditions. Scott is good for your bags. I've known him for more than ten years and he understands it."

▌The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 52.7%

According to CME's "Fed Watch": The probability that the Federal Reserve will maintain the current interest rate unchanged by December is 47.3%, and the probability of a cumulative interest rate cut of 25 basis points is 52.7%. The probability of maintaining the current interest rate unchanged by January next year is 37.2%, the probability of a cumulative interest rate cut of 25 basis points is 51.6%, and the probability of a cumulative interest rate cut of 50 basis points is 11.3%.

Golden Encyclopedia

▌What is an airdrop?

An airdrop is the cryptocurrency equivalent of a surprise gift. Imagine opening a box and discovering coins inside! This is similar to receiving an announcement about free coins or tokens from a new blockchain project. Crypto airdrops involve distributing digital assets to users' wallets for free, or in exchange for completing simple tasks, such as following a project on social media or joining their online community.

In the crypto ecosystem, airdrops play a vital role. New projects use airdrops as a marketing strategy to increase awareness and build a user base. They are like free samples in a supermarket, enticing users to try new products. From a user's perspective, airdrops offer an opportunity to gain new cryptocurrencies with minimal effort, and potentially huge gains. These tokens are not just freebies, they are a way to participate in the growing digital economy.

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