Son Min

It has been revealed that Bitwise's Bitcoin (BTC) and Ethereum (ETH) Exchange Traded Products (ETPs) have been listed on the London Stock Exchange (LSE) in the UK. According to Globe Newswire on the 16th (local time), Bitwise announced that four types of virtual asset (cryptocurrency) ETPs have been listed on the London Stock Exchange since the 9th (local time). The listed products include two Bitcoin ETPs, an Ethereum ETP, and an Ethereum Staking ETP. Bradley Duke, Head of Bitwise Europe, said, "Virtual asset investment is rapidly becoming popular among both the public and institutions," and added, "We are proud to list our virtual asset ETPs on the London Stock Exchange."

Cryptocurrency market maker DWF Labs has announced its acquisition of World Liberty Financial (WLFI), signaling its intention to expand into the US market. On the 16th (local time), DWF Labs announced on its official X (formerly Twitter) that it had strategically acquired WLFI worth $25 million (approximately 35.5 billion KRW) and would actively pursue entry into the US market. They further stated, "We support World Liberty Financial's vision for decentralized finance (DeFi) and will actively work on building financial infrastructure," adding, "To this end, we have established a new office in New York, USA." Through this entry into the US market, DWF Labs plans to actively support strengthening partnerships with banks and fintech companies in the US, expanding recruitment of talent in the cryptocurrency field, increasing interaction with policy institutions, and expanding liquidity supply for USD1. Meanwhile, USD1 is a dollar-based stablecoin launched by World Liberty Financial, a cryptocurrency project of the Trump family.

An analysis has emerged suggesting that the possibility of a Bitcoin (BTC) adjustment has increased, considering traders' sentiment index. On the 16th (local time), CryptoQuant reported, "Although Bitcoin prices remain high, the perpetual futures sentiment index is continuously declining," stating, "This is a strong signal that Bitcoin may undergo an adjustment." According to CryptoQuant data, the Bitcoin perpetual futures sentiment index reached 0.9 last December and has been continuously declining, currently remaining at the 0.4 level. The report stated, "This indicates that fear is spreading in the futures market due to economic uncertainty, regulatory risks, and concerns about a sharp price drop," adding, "If the sentiment index remains low, downward pressure may become stronger." As of 8:13 PM, Bitcoin is trading at $83,988 on the Binance USDT market, down 1.72% from 24 hours ago.

An analysis has emerged that whale investors have sold more than 29,000 Bitcoins (BTC) over the past week. On the 16th (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "Whale investors are realizing profits," and "More than 29,000 Bitcoins have been sold since the 9th (local time)." As of 7:30 PM, Bitcoin is trading at $83,914 on the Binance USDT market, down 2.15% from 24 hours ago.

In the United States, the 'Bitcoin (BTC) Strategic Reserve Bill (HB1203)' proposed in Oklahoma has been rejected by the Senate committee. According to Decrypt on the 16th (local time), the Oklahoma Senate Finance and Taxation Committee voted to reject the Bitcoin Strategic Reserve Bill. The rejection was by a narrow margin of 5 votes in favor and 6 against, resulting in the failure to reserve Bitcoin. The media noted that the bill had passed with an overwhelming vote of 12 to 2 in February, raising expectations, but ultimately resulted in a disappointing outcome. Meanwhile, the HB1203 bill, proposed in January, aimed to allow the Oklahoma government to invest in virtual assets (cryptocurrencies) with a market capitalization of over $500 billion (annually). Previously, similar bills were also rejected in Montana, North Dakota, Pennsylvania, and Wyoming.

Claims have emerged that local governments in China are selling some of their Bitcoin (BTC) holdings. On the 16th (local time), SolidIntel reported on X (formerly Twitter) that "according to sources, Chinese local governments are selling about 15,000 BTC through overseas private companies," and "it is interpreted as an effort to secure cash funds amid financial difficulties." Meanwhile, it is reported that the Chinese government holds a total of 194,000 BTC.

It has been revealed that whale investors have sold a large amount of XRP over the past two weeks. On the 16th (local time), virtual asset analyst Ali Martinez stated via X (formerly Twitter) that "according to Santiment data, whales have sold over 370 million XRP since early April." This amounts to $765.9 million (approximately 1.0892 trillion won) based on the current XRP price. As of 6:01 PM, XRP is trading at $2.07 on the Binance USDT market, down 3.90% from 24 hours ago.

There has been an evaluation that Bitcoin (BTC) and related stocks are showing unexpectedly positive trends, suggesting growth in the virtual asset (cryptocurrency) market. On the 16th (local time), Eric Balchunas, a Bloomberg ETF analyst, stated on X (formerly Twitter), "The U.S. tech stock ETF QQQ has fallen by 10% year-to-date, but Strategy has risen by 7%. This was completely unexpected," and added, "It's also surprising that Bitcoin is still at $85,000." He continued, "Both are very positive signals. It indicates that the virtual asset market is becoming increasingly robust," and evaluated, "In the future, it will also be possible to refute the claim that Bitcoin is merely a high beta product of tech stocks." Meanwhile, high beta assets refer to assets whose prices move more significantly compared to the overall market volatility.

The global virtual asset (cryptocurrency) exchange Binance is listing Aergo (AERGO) perpetual futures. On the 16th (local time), Binance announced on its official website, "We plan to list AERGO/USDT perpetual futures today at 20:00 (KST)." It supports up to 15x leverage. Following this news, Aergo listed on domestic virtual asset exchanges also surged. As of 5:04 PM, Aergo is trading at 706 KRW on Upbit, up 12.12% from the previous session. Previously, Aergo was designated as a cautionary item on Upbit and Bithumb.

Japan's Metaplanet, regarded as a strategist, has issued bonds to purchase additional Bitcoin (BTC). On the 16th (local time), Metaplanet announced via X (formerly Twitter) that "it has issued zero-coupon ordinary bonds worth 10 million USD (approximately 14.2 billion KRW) to purchase additional Bitcoin." Previously, on the 14th (local time), Metaplanet also purchased an additional 319 BTC. Currently, Metaplanet's total Bitcoin holdings amount to 4,525.

An analysis has emerged that the demand for U.S. Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) is concentrated among institutional investors. On the 16th (local time), Matrixport reported through a report that "most of the demand for Bitcoin spot ETFs is generated by institutional investors rather than individual investors." This is because most of the total net inflow of Bitcoin spot ETFs ($35.5 billion) has occurred in products from BlackRock ($39.6 billion) and Fidelity ($11.4 billion). The report explained, "If the ETF fund inflow was centered on individual investors, funds would have been evenly distributed across all issuers," adding, "As the inflow is concentrated in two major asset management companies, the Bitcoin spot ETF inflow trend is centered on institutional investors."

An analysis has emerged suggesting that considering Bitcoin (BTC)'s on-chain indicators, a prolonged sideways movement is expected. According to Cointelegraph on the 16th (local time), 10X Research stated in a report, "The current Bitcoin on-chain indicators suggest a bearish market rather than a bullish one," and "Bitcoin is likely to move sideways for a long time." 10X Research focused on the Bitcoin Stochastic Oscillator indicator. The Stochastic Oscillator is an indicator that shows where a specific asset's recent closing price is located between its high and low points. According to this indicator, Bitcoin is currently exhibiting a typical pattern seen in the late stages of a bull market. The change in the main buyers of the Bitcoin market is also noted. In the past, speculative buying by individual investors drove price increases, but recently, investors with a long-term holding tendency are forming a stable buying trend. Therefore, it is explained that rather than a rapid increase as in the past, a more gradual and steady upward trend is likely to develop. As of 3:55 PM, based on the Binance USDT market, Bitcoin is trading at $83,579, down 2.20% from 24 hours ago.

The CEO of the Real World Asset (RWA) project MANTRA (OM) has announced his intention to burn all of his allocated team tokens to restore community trust. Previously, on the 13th (local time), MANTRA had plummeted by up to 95% on Binance. On the 16th (local time), John Mullin, CEO of MANTRA, stated via X (formerly Twitter), "According to MANTRA's tokenomics, team allocations are distributed starting from 2027," and "to restore (community) trust, I will burn all team tokens allocated to me." This is interpreted as a measure to resolve the community's distrust following the recent sharp decline in MANTRA tokens and to enhance project trust. He further expressed a strong determination to overcome the current situation through active efforts, saying, "If we overcome this crisis and prove the project's performance, I will allow the community to decide through a vote whether I am eligible to reclaim the rights to those tokens." MANTRA also showed a sharp rise due to the CEO's efforts to restore trust. As of 3:33 PM, MANTRA is trading at $0.7886 on the Binance USDT market, up 27.94% from 24 hours ago. However, it remains significantly lower compared to the pre-crash price of $6.3.

CleanSpark, a Bitcoin (BTC) mining company listed on Nasdaq, announced plans to sell some of its mined Bitcoin in the future. On the 15th (local time), Zach Bradford, CEO of CleanSpark, stated on the official website, "We will change the 100% Bitcoin holding strategy that we have maintained since mid-2023," and "We plan to sell some of the mined Bitcoin each month to cover operating expenses." He added, "This is a different strategy from competitors who use leverage to increase their Bitcoin holdings," and "By selling some of the mined Bitcoin and holding the rest long-term, we can further enhance shareholder value." Currently, CleanSpark holds over 12,000 BTC. The sale of mined Bitcoin will be conducted through the Bitcoin financial management desk. On the same day, CleanSpark officially launched the Bitcoin financial management desk by increasing the credit line with Coinbase Prime to $200 million.

Reports have emerged that U.S. President Donald Trump plans to launch a real estate-themed virtual asset (cryptocurrency) game. On the 15th (local time), Fortune Crypto cited sources familiar with the matter, stating this. It continued, "The game will involve building structures in a digital city to earn money, similar to Monopoly," and added, "Trump has previously launched a board game themed on real estate called 'Trump: The Game'." Bill Zanker, who supported the launch of OfficialTrump (TRUMP) and Trump Non-Fungible Token (NFT), is also participating in the project. Meanwhile, President Trump previously mentioned in an interview with the New York Post that "Monopoly is an amazing game." As of 11:33 PM, OfficialTrump is trading at $7.84, down 6.44% from 24 hours ago, based on the Binance USDT market.

An official statement has been released that the sharp decline in ZKSync (ZK) was due to a manager account hacking. On the 15th (local time), ZKSync announced via its official X that "the security team has confirmed that the hacked manager account stole ZK worth $5 million," stating that "the tokens were unclaimed leftovers from an airdrop." They continued, "User funds are safe and not exposed to any risk," and "all necessary security measures are currently underway." They particularly emphasized that this incident is not related to a technical issue. The team stated, "The ZKSync protocol and token contract are not problematic. This decline is an independent situation caused by a private key leak." They added, "We will provide further guidance on related matters after additional investigation." Previously, there were suspicions spreading within the virtual asset community that the ZKSync team issued 110 million ZK on-chain and sold 66 million ZK. As of 11:10 PM, ZKSync is trading at $0.044 on the Binance USDT market, down 14.40% compared to 24 hours ago.

ZKSync (ZK) has plummeted, with allegations spreading in the cryptocurrency community that the ZKSync team sold 66 million ZK. On the 15th (local time), ZKSync experienced a sudden drop of about 20% on the global cryptocurrency exchange Binance. Consequently, allegations have spread within the community that the ZKSync team sold 66 million ZK. One X (formerly Twitter) user stated, "The ZK holdings of the team and investors are still locked. The team is secretly issuing additional tokens and dumping them on the market," adding, "ZKSync issued 110 million ZK on-chain, of which 66 million ZK have already been sold on the market." Famous cryptocurrency influencer Artualist also reported, "110 million ZK were issued, and 66 million of them were sold on-chain," adding, "According to tokenomics information, the tokens of the team and investors are still locked." ZKSync announced through its official Discord, "The allocations for the team and investors remain locked," and "We have started an investigation into this incident." As of 10:47, ZKSync is trading at $0.0439 on the Binance USDT market, down 14.42% from 24 hours ago.

The number of addresses holding UXLINK has reached an all-time high. On the 15th (local time), Satoshi Club announced via X that "the number of UXLINK holding addresses has reached a record high of 1.4 million," stating "this is an increase of 180% compared to early February." As of 10:27 PM, according to CoinMarketCap, UXLINK is trading at $0.4871, down 0.80% from the previous day.

Over 368,000 Ethereum (ETH) have been transferred to exchanges in the past two weeks. On the 15th (local time), virtual asset (cryptocurrency) analyst Ali Martinez stated via X that "since early April, more than 368,000 Ethereum have entered exchanges." This amounts to approximately $600 million (about 857 billion KRW) based on the current Ethereum price. Typically, large deposits to exchanges can lead to increased selling pressure, which can cause short-term volatility. As of 9:45 PM, Ethereum is trading at $1,633 on the Binance USDT market, down 2.35% from 24 hours ago.

Amid changes in the cryptocurrency policy stance of the U.S. Securities and Exchange Commission (SEC), there is an opinion that XRP is the most likely asset for the next virtual asset spot Exchange-Traded Fund (ETF) launch. According to The Block on the 15th (local time), Kaito stated in a report that "XRP is in the most advantageous position for approval of a virtual asset spot ETF," and "it will be the third virtual asset spot ETF to be launched following Bitcoin (BTC) and Ethereum (ETH)." Analysts focused on the liquidity and ETF interest of XRP. The report stated, "XRP has the largest market depth (total amount of buy and sell orders within 1% of the market price on the order book) on major exchanges," and "currently, there are as many as 10 applications for XRP spot ETFs, recording the highest number of applications." The leveraged ETF launched on the 8th (local time) is also a positive factor. The report stated, "If the SEC claims that the XRP spot ETF is risky, it is not convincing," and "the launch of Teucrium's leveraged XRP ETF is a factor that can refute this." Since a leveraged ETF, which is riskier than a spot ETF, has already been launched, it is explained that the SEC is unlikely to reject the approval of the XRP spot ETF based on its risk. Meanwhile, the SEC must submit a response to the Grayscale XRP spot ETF application by May 22 (local time). As of 9:38 PM, XRP is trading at $2.16, up 0.31% from 24 hours ago, based on the Binance USDT market.

Japanese listed company Value Creation announced that it will purchase additional Bitcoin (BTC) worth 1 billion yen. According to the Bitcoin-related X account 'The Bitcoin Historian' on the 15th (local time), Value Creation stated that it plans to purchase additional Bitcoin worth 1 billion yen (approximately 1 billion KRW). It further stated, "Bitcoin is not just a speculative target but a technological asset like 'digital gold', and considering the continuous market growth, we decided to invest part of our funds in Bitcoin." Previously, Value Creation also purchased Bitcoin worth 1 billion yen on March 17 and 31.

An analysis has emerged that buying pressure on Solana (SOL) has formed a support line at $129. On the 15th (local time), Glassnode stated via X that "according to the UTXO Realized Price Distribution (URPD) indicator, Solana has formed a support line at $129.79," and "32 million SOL (5% of the total supply) was purchased at this price level." As of 8:54 PM, Solana is trading at $132 on the Binance USDT market, down 1.02% from 24 hours ago.

It was found that the trading volume of the Solana (SOL)-based decentralized exchange (DEX) ranked first for four consecutive days. On the 15th (local time), Cointelegraph announced via X (formerly Twitter) that "Solana DEX trading volume ranked first for four consecutive days," stating that it is a figure that greatly surpasses all other chains. According to the cited data, the trading volume of Solana DEX recorded $2.509 billion over the past 24 hours. During the same period, Ethereum (ETH)-based DEX recorded $1.895 billion, ranking second.

Due to the tariff war, the U.S. Bitcoin (BTC) spot exchange-traded fund (ETF) recorded the second-largest monthly net outflow. On the 15th (local time), CoinDesk reported, "Since April, Bitcoin spot ETFs have experienced a net outflow of over $800 million," stating that "this is the second-largest monthly outflow since its launch." The media evaluated, "As volatility increased due to the tariff war, institutional investors chose U.S. Treasury investments over Bitcoin," adding, "Many financial institutions still prefer U.S. Treasuries as a risk-hedge asset." As of 8:05 PM, Bitcoin is trading at $85,638 on the Binance USDT market, up 1.16% from 24 hours ago.

Global virtual asset (cryptocurrency) exchange Binance is listing WalletConnect (WCT) perpetual futures. On the 15th (local time), Binance announced on its official website, "We plan to list WalletConnect perpetual futures," adding, "We support up to 75x leverage." The listing will take place at 11:00 (UTC) today, which is 8:00 PM Korean time.

Bitcoin (BTC) is showing different price movements than before, and there is an opinion that it could surge if the macro environment improves. On the 15th (local time), Matt Hougan, Chief Investment Officer (CIO) of Bitwise, stated in a memo to clients, "Currently, Bitcoin is showing a surprisingly solid performance," and "it could surge significantly if the macroeconomic environment improves." He noted that despite the uncertain macroeconomic environment, Bitcoin's price remains stable. Hougan said, "Bitcoin's price has barely moved over the past month," and "Bitcoin's return over the past 30 days is about 0.07%." He continued, "This is a stark contrast to when adjustments occurred in the risk asset market in the past," and evaluated that "Bitcoin is behaving like an asset that wants to rise higher." Additionally, he predicted that Bitcoin could outperform stocks for the first time in a bear market. In previous bear markets in 2018, 2020, and 2022, while the S&P 500 fell by 19%, 34%, and 25% respectively, Bitcoin plummeted by 37%, 38%, and 58%, but currently, the difference in decline between the S&P 500 and Bitcoin is only 0.4 percentage points. Hougan added, "This is because the narrative that Bitcoin is a 'risk hedge asset' similar to gold is gaining traction in the market," and "there is a high possibility that Bitcoin's bullish trend will continue."