Son Min

There is speculation that the 194,000 Bitcoin (BTC) seized by the Chinese government from the PlusToken pyramid scheme may have already been sold. On the 22nd (local time), Ju Ki-young, CEO of CryptoQuant, stated on X, "The Chinese government has likely already sold the 194,000 BTC," adding, "It is unlikely that a regime favoring censorship would hold Bitcoin, which aims for decentralization." He noted, "The Bitcoin seized from PlusToken was transferred to cryptocurrency exchanges within China," and "The Chinese Communist Party announced that the assets were transferred to the national treasury, but did not specifically mention whether they were sold." Meanwhile, PlusToken is a Chinese cryptocurrency pyramid scheme that victimized over 2.6 million people. In 2019, China seized Bitcoin, Ethereum (ETH), and other assets worth $14 billion from PlusToken.

There are claims that the family of former U.S. President Donald Trump is planning to build a large-scale cryptocurrency business based on Ethereum (ETH). On the 21st (local time), Joseph Lubin, CEO of ConsenSys, stated on X, "As far as I know, Trump plans to build one or more large-scale cryptocurrency businesses based on Ethereum," adding, "Furthermore, they will also be active and contribute in Bitcoin (BTC) and Solana (SOL)." He continued, "Ethereum has the largest decentralized protocol ecosystem," and "just as the internet is used in government activities today, Ethereum technology can be used in government activities." Meanwhile, according to Arkham Intelligence, the Trump family's DeFi project, World Liberty Financial (WLFI), currently holds 55,341 ETH.

Justin Sun, the founder of TRON (TRX), claimed that if he had managed Ethereum (ETH) and the Ethereum Foundation (EF), it would have reached $10,000. On the 21st (local time), Justin Sun, the founder of TRON, stated on X that "Through decisive measures, Ethereum could surpass $4,500 within the first week of implementation and continue to rise in the long term." He highlighted plans for Ethereum's rise, including △ halting EF's ETH sales and optimizing revenue △ imposing taxes on Layer 2 (L2) solutions △ streamlining EF operations △ reducing node rewards and expanding the fee-burning mechanism. Justin Sun emphasized, "EF should halt Ethereum sales for at least three years, and operational funds should be covered through staking and stablecoin borrowing," adding, "Significant taxes should be imposed on Ethereum-based L2, and the revenue should be used to repurchase and burn Ethereum." He further elaborated, "By reducing node rewards and strengthening the fee-burning mechanism, we will solidify Ethereum's position as a store of value," and "We must establish and maintain Ethereum deflation." This plan aims to solve the chronic issue of inflation, which has been cited as a reason for Ethereum's price decline, and to strengthen market trust. Furthermore, he added that by significantly reducing EF's workforce, operational efficiency would be increased, and a culture focused solely on the development of the Ethereum blockchain would be established. Meanwhile, on the 13th (local time), Ki Young Ju, CEO of CryptoQuant, pointed out that "Ethereum is practically a stablecoin," noting that Ethereum has maintained a similar price for five years. In reality, Ethereum has risen about 38% over the past year, showing a weaker performance compared to other major altcoins. As of 10:21 PM, Ethereum is trading at $3,308.74 on the Binance USDT market, up 0.01% from 24 hours ago.

The previous day, it was reported that the Bitcoin (BTC) options trading call-put skew (the difference in implied volatility between call options and put options) at the Chicago Mercantile Exchange (CME) reached its highest level since the election. As a result, there are claims that traders' bullish sentiment will act as upward pressure on Bitcoin. On the 21st (local time), Thomas Erdős, head of products at CF Benchmarks, stated in an interview with CoinDesk, "The 30-day upper skew in the Bitcoin options market has reached its highest level since the U.S. election," and "This reflects a strong bullish sentiment among options traders." He added, "Traders have shown aggressive bullish sentiment in both short-term and long-term Bitcoin options." According to CF Benchmarks data, the previous day's Bitcoin call-put skew reached 4.4%, marking the highest level since the election. A positive skew value means that call options are dominant over put options, indicating that a higher proportion of traders in the options market predicted a rise in Bitcoin. Furthermore, Erdős stated, "Unless there are unexpected policy changes, the upper skew is likely to remain," and "This will act as sustained upward pressure on Bitcoin." Meanwhile, a call option is the right to buy a specific underlying asset at a predetermined strike price. If the market price of the underlying asset is higher than the predetermined strike price on the expiration date, the call option buyer can exercise the option and profit from the difference.

The trading volume of the Base-based decentralized exchange (DEX) has reached an all-time high. On the 21st (local time), Dan Smith, a Blockworks Research analyst, stated on X, "The previous day, the Base-based DEX recorded a daily trading volume of $2.9 billion," adding, "This is an all-time high." He continued, "This was driven by $1.3 billion worth of ETH-USD trading," and noted, "ETH-cbBTC and BTC-USD trading also approached all-time highs."

The market capitalization of Solana (SOL)-based stablecoins and the Total Value Locked (TVL) in decentralized finance (DeFi) on Solana have reached all-time highs. On the 21st (local time), SolanaFloor announced on X that "the market cap of Solana-based stablecoins has surpassed $10 billion for the first time," and "Solana DeFi TVL has also reached $11.8 billion, setting a new record." Meanwhile, the market cap of Solana-based stablecoins has surged by 69.46% over the past seven days. As of 7:51 PM, Solana is trading at $254.40 on the Binance USDT market, up 6.31% from 24 hours ago.

There is a claim that the possibility of a Bitcoin (BTC) price increase is growing due to the surge in Bitcoin buying activity by retail investors (holding less than 10 BTC). On the 21st (local time), BeInCrypto stated, "Retail investors' Bitcoin buying activity has surged," and "this will serve as a foundation for future Bitcoin increases." According to Glassnode data, retail investors recently purchased 25,600 BTC. This is approximately 2.71 billion dollars (about 3.882 trillion won). The media explained, "Retail investors are a support base for Bitcoin prices," and "they act as a buffer zone during corrections and as a strengthening factor for price increases during bull markets." Furthermore, the decline in the CDD indicator is noticeable. Bitcoin CDD, which signifies the amount of Bitcoin deposited in exchanges, generally helps to understand the selling sentiment of long-term holders. The media stated, "The CDD significantly decreased in January, reducing the selling pressure of long-term investors," and "as a result, the holding sentiment of long-term investors has grown." They continued, "This change has created a favorable environment for Bitcoin price increases," and "the challenge for Bitcoin to reach 110,000 dollars will continue."

An analysis has emerged suggesting that Bitcoin will reach $122,000 before entering a correction phase. On the 21st (local time), Markus Thielen, an analyst at 10X Research, stated this in a report. $122,000 is approximately a 16% increase from Bitcoin's current price. He mentioned, "After the approval of the Bitcoin spot ETF, Bitcoin tends to surge in increments of $16,000 to $18,000," and added, "Considering this pattern, it is highly likely to reach $122,000 by February." However, he also noted that after reaching $122,000, it will enter a correction phase. Furthermore, he said, "Bitcoin has risen from $98,937 to $107,000, successfully testing the wedge breakout," and emphasized, "The breakout signal shown on the chart provides a low-risk, high-reward entry opportunity." A wedge breakout is a phenomenon where significant price movement occurs after breaking through a contracting triangular pattern (wedge). As of 6:41 PM, Bitcoin is trading at $104,995 on the Binance USDT market, up 2.52% from 24 hours ago.

LINE NEXT announced on the 22nd that it has launched the LINE messenger-based Mini Dapp and Dapp Portal platform globally, operated through the KAIA blockchain. The Mini Dapp is a decentralized application (Dapp) based on the KAIA ecosystem, built to allow users to experience Web3 directly within the LINE messenger without installing a separate app. Users can explore various Mini Dapps such as games, social, and content through the Dapp Portal provided in the LINE messenger's home tab or LINE official account, and can use the services immediately by adding each Mini Dapp's LINE official account. Users can receive rewards from Dapps or conveniently exchange and trade various virtual assets and Non-Fungible Tokens (NFTs) through the wallet embedded in the LINE app. LINE NEXT plans to add a Dapp Portal service section to the LINE messenger home tab and will also launch a web version of the Dapp Portal that does not require the use of a mobile messenger in the future. The total of 32 Mini Dapps introduced through this launch were selected through 'Kaia Wave,' a program jointly supporting Web3 developers based on the KAIA ecosystem by LINE NEXT and the KAIA DLT Foundation, and were developed using the Software Development Kit (SDK) provided by LINE NEXT. The Mini Dapps being unveiled include new games Bombie and Cattea by Pluto Studio, the casual game Captain Tsubasa-RIVALS-on LINE based on the popular soccer manga Captain Tsubasa, and 'Superz' from the health reward app SuperWalk, among various games, social, and content apps from leading global developers. LINE NEXT plans to introduce over 1,000 diverse projects sequentially within the year. Ko Young-soo, CEO of LINE NEXT, stated, "The true popularization of Web3 services depends on accessibility and usability. The LINE messenger-based Mini Dapp will be Asia's first large-scale Web3 user adoption case." Seo Sang-min, Chairman of the KAIA DLT Foundation, said, "We are pleased to be able to provide various Web3 services in a convenient way through the launch of Mini Dapps and the Dapp Portal. We will continue to provide stable and scalable blockchain solutions." Hankyung.com Newsroom

Cryptocurrency exchange HashKey Global announced on the 22nd that it will support the expansion of the KAIA blockchain. To this end, it plans to collaborate with LINE NEXT to launch a LINE mini DApp. Additionally, HashKey expressed its intention to actively support the KAIA ecosystem. HashKey stated, "We plan to support the KAIA ecosystem through investments, ecosystem collaboration, and partnerships with projects," adding, "We will also introduce KAIA's official wallet to provide a more user-friendly blockchain service." KAIA also supports HashKey Global. By recommending outstanding projects within the ecosystem, it will promote priority listing on HashKey Global. Furthermore, it plans to promote these projects through HashKey's Launchpool and Launchpad services and encourage community participation. Ben El-Baz, Executive Director of HashKey Global, stated, "HashKey Global aims to lead Web3 innovation by supporting groundbreaking projects like KAIA," adding, "We will build a better blockchain ecosystem together with KAIA." Sangmin Seo, Chairman of the KAIA Foundation, said, "The launch of mini DApps within LINE will serve as a gateway to provide DApps to 196 million LINE users," adding, "We will offer user-centric Web3 services to provide an easier blockchain technology experience."

Global cryptocurrency exchange Binance has announced the listing of VeThor (VTHO) perpetual futures. On the 21st (local time), Binance announced on its official website that it would list VeThor perpetual futures. The listing will take place today at 18:30 (KST). It supports up to 75x leverage.

A claim has emerged that gold cannot beat Bitcoin. On the 21st (local time), Joo Ki-young, CEO of CryptoQuant, stated on X that "gold cannot beat Bitcoin" because "Bitcoin is the perfect internet currency." He pointed out that in the 1990s, when the internet penetration rate was only around 1%, gold was considered the true currency. However, now 63% of the world's population uses the internet. He explained that the internet penetration rate will continue to increase, and consequently, the growth of Bitcoin, an internet-based currency, will accelerate. As of 4:47 PM, Bitcoin is trading at $105,195 on the Binance USDT market, up 2.95% from 24 hours ago.

Justin Sun, founder of TRON (TRX), revealed World Liberty Financial's (WLFI) purchase of TRON, expressing his expectations for WLFI. WLFI is a decentralized finance (DeFi) protocol led by the Trump family. On the 21st (local time), Justin Sun, founder of TRON, announced on X, "WLFI has additionally purchased TRON," stating, "TRON is the third largest cryptocurrency held by WLFI." Previously, WLFI had additionally purchased 10,809,000 TRX. WLFI currently holds 30,110,000 TRX, which is approximately $7.35 million (about 1.08 billion KRW). Furthermore, he stated, "If I make money with cryptocurrency, all credit goes to President Trump," predicting that both Official Trump (TRUMP) and WLFI will yield very good results. He added that President Trump officially pardoned Ross Ulbricht, founder of Silk Road, saying, "Trump is the best president in fulfilling election promises." Meanwhile, Justin Sun is an advisor and investor in WLFI. On the 20th, he announced that TRON DAO had additionally invested $45 million in WLFI.

It was revealed that whales purchased a large amount of Dogecoin (DOGE) the previous day. On the 21st (local time), virtual asset analyst Ali Martinez announced on X, "Whales have purchased 590 million DOGE in the last 24 hours." This amounts to approximately 217 million dollars (about 311.7 billion won). Meanwhile, the Dogecoin logo appeared on the main page of the official website of the U.S. Department of Government Efficiency (D.O.G.E) the previous day. As of 3:33 PM, Dogecoin is trading at $0.36680, up 7.30% from 24 hours ago, based on the Binance USDT market.

The CEO of the global cryptocurrency exchange Binance has predicted that Bitcoin will reach a new all-time high. Richard Teng, CEO of Binance, stated in an interview with CNBC on the 20th (local time) that "Bitcoin will reach a new all-time high this year," and "more clear pro-cryptocurrency regulations are expected to emerge under the Trump administration." CEO Teng mentioned, "Currently, the U.S. Congress is also showing a pro-cryptocurrency stance," and "positive legislation in various areas such as token issuance, trading, and asset management is expected to pass in the cryptocurrency market." He also added that there is a high possibility that pro-cryptocurrency figures will be appointed to key positions in the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). He emphasized, "Recently, I have heard positive views on cryptocurrencies from politicians and business leaders," and "I hope that through the Trump administration, cryptocurrencies will be more widely recognized, and Trump's pledge of strategic Bitcoin reserves will be realized."

KULR Technology Group, a space technology company listed on the New York Stock Exchange (NYSE), has purchased an additional $8 million worth of Bitcoin (BTC). According to CoinDesk on the 20th (local time), KULR Technology Group announced that it has purchased $8 million worth of BTC. This amounts to approximately 79 BTC, with an average purchase price of $101,695. Previously, KULR had announced a plan to purchase Bitcoin as part of its financial strategy. The core of this plan is to add Bitcoin to its balance sheet and invest 90% of its surplus cash in Bitcoin. Currently, KULR holds 510 BTC (approximately $50 million).

Nasdaq-listed AI-based education company Genius Group has purchased an additional $5 million worth of Bitcoin (BTC). According to GlobeNewswire on the 20th (local time), Genius Group announced that it had purchased Bitcoin worth $5 million on this day. Previously, Genius Group had also purchased $10 million worth of Bitcoin on December 30th last year. Currently, Genius Group holds 420 BTC (approximately $40 million). The average purchase price is $95,912. Genius Group, which announced its Bitcoin reserve plan last November, aims to hold more than 90% of its current or future reserves in Bitcoin. The short-term goal is to hold BTC worth $120 million. On the 15th, it was announced that they are planning a rights offering of up to $50 million to fund Bitcoin purchases.

MicroStrategy has purchased an additional 11,000 Bitcoin (BTC). On the 20th (local time), Michael Saylor, founder of MicroStrategy, announced on X, "MicroStrategy has purchased 11,000 BTC," stating that "the purchase price per BTC is approximately $101,191, totaling $1.1 billion." He added that this amount has currently achieved a 1.69% profit. As of the 20th, MicroStrategy holds 461,000 BTC. This amounts to approximately $29.3 billion, with an average purchase price of about $63,610. As of 10:19 PM, Bitcoin is trading at $104,909 on the Binance USDT market, down 1.94% from 24 hours ago.

There is a claim that MicroStrategy's stock is undervalued considering the amount of Bitcoin (BTC) it holds. On the 10th (local time), Joo Ki-young, CEO of CryptoQuant, stated on X, "MicroStrategy is undervalued compared to the Bitcoin it holds." In the chart, the green line represents the MicroStrategy Bitcoin holdings premium. Considering the decline of the green line, it is explained that MicroStrategy's market capitalization is relatively low compared to the market value of the Bitcoin the company holds. Meanwhile, MicroStrategy currently holds about 450,000 BTC. The average purchase price is $62,691.

A large amount of Official Trump (TRUMP) has been transferred to Binance. On the 20th (local time), Whale Alert announced on X that "2,819,426 TRUMP has been transferred from an anonymous address to Binance," stating "This is approximately worth 10.39 million USD (about 156.3 billion KRW)." Typically, large deposits to exchanges can lead to increased selling pressure, which can cause short-term volatility. As of 9:01 PM, TRUMP is trading at 37.87 USD on the Binance USDT market, down 29.35% from 24 hours ago.

The 24-hour trading volume of the decentralized exchange (DEX) Hyperliquid (HYPE) has reached an all-time high. It surpassed the previous record of $21 billion set just a day earlier. On the 20th (local time), Hyperliquid announced via its official X account that "the 24-hour trading volume of Hyperliquid has exceeded $22 billion," adding that "this is an all-time high." They also mentioned that "the open interest (OI) is $4.7 billion, and the protocol revenue is $9.5 million." The surge in Hyperliquid's trading volume is attributed to the listing of meme coins Official Trump (TRUMP) and Melania (MELANIA). Previously, Hyperliquid had listed perpetual futures for these two coins, supporting up to 3x leverage.

A large amount of Dogecoin (DOGE) has been transferred from an anonymous wallet to Binance. On the 20th (local time), Whale Alert announced on X that "400 million DOGE has been transferred from an anonymous wallet to Binance," stating it was "approximately 137.79 million dollars (about 198.7 billion won) in scale." Typically, large deposits to exchanges can lead to an increase in selling pressure, potentially causing short-term volatility. As of 7:27 PM, Dogecoin is trading at $0.34682 on the Binance USDT market, down 8.76% from 24 hours ago.

Cryptocurrency exchange Coinbase has been accused of staking customer cryptocurrencies without authorization. On the 20th (local time), BeInCrypto reported, "There are allegations that Coinbase is staking Solana (SOL) without user consent," stating, "This is because Solana transactions are delayed on Coinbase." They further mentioned, "The transaction delay may have occurred during the Solana unstaking process," and "some users are demanding immediate Proof of Reserves." According to BeInCrypto, some Coinbase users experienced delays of over 9 hours during Solana transfers. Furthermore, there were cases where transactions were canceled or held for more than 14 hours. Crypto angel investor CryptoCurve stated, "There is a very high possibility that Coinbase was staking SOL without customer consent," and demanded an immediate Proof of Reserves audit. Proof of Reserves is an act of verifying that a cryptocurrency exchange holds sufficient assets to cover customer deposits. Additionally, the media added, "Large Solana transactions moving from anonymous wallets to Coinbase are spreading the allegations." According to Whale Alert, a total of 1,074,984 SOL was transferred to Coinbase in four transactions today. Meanwhile, Coinbase explained the allegations as "delays due to technical issues."

Over the past two days, whales have purchased more than 100 million Ripple. On the 20th (local time), virtual asset analyst Ali Martinez stated on X, "According to Santiment data, whales have purchased more than 100 million Ripple in the past 48 hours." As of 5:38 PM, Ripple is trading at $3.0738 on the Binance USDT market, down 6.18% from 24 hours ago.

It has been revealed that a strategic Bitcoin reserve bill has been proposed in Utah, USA. On the 20th (local time), Dennis Porter, co-founder of the Satoshi Action Fund, announced on X that "Utah has proposed a strategic Bitcoin reserve bill," stating that it is "the 11th state to propose such a bill." The bill was proposed by Utah State Representative Jordan D. Tushar. So far, strategic Bitcoin reserve bills have been proposed in 10 states, including Pennsylvania, Texas, New Hampshire, and Massachusetts.