Suehyeon Lee

The U.S. Ethereum (ETH) spot ETF recorded record-breaking net inflows and trading volume last week. According to Trader T on the 18th (local time), last week’s net inflow into the U.S. Ethereum spot ETF reached $2,829,000,000 (about ₩3,913,600,000,000), and trading volume hit $18,000,000,000 (about ₩24,000,000,000,000), both reaching all-time highs. As a result, there has been more than $10,000,000,000 in cumulative inflows for 13 consecutive weeks. In particular, BlackRock logged a record weekly net inflow of $2,294,000,000, while Fidelity also recorded a net inflow of $361,000,000 this week.

The U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) recorded a net inflow of more than $500 million last week. According to Trader T on the 18th (local time), the U.S. Bitcoin spot ETFs saw a net inflow of $548 million (about ₩759.1 billion) over the past week. The weekly trading volume reached $21 billion (about ₩29 trillion). Specifically, BlackRock posted a weekly net inflow of $888 million, marking its 18th consecutive week of net inflows. In contrast, Fidelity recorded five straight weeks of net outflows, with a $74 million net outflow last week and a cumulative $655 million net outflow over the five weeks.

An analysis has indicated that demand for Ethereum (ETH) remains strong. On the 18th (local time), David Duong, Head of Research at Coinbase, stated, "Since early August, leading Ethereum Digital Asset Trusts (DATs) have purchased a total of 795,000 ETH (worth approximately $3.6 billion), securing over 2% of the total supply." Duong added, "In particular, BMNR raised an additional $2 billion, bringing its total ETH purchasing capacity to $24.5 billion," highlighting that such companies could continue making large-scale additional acquisitions going forward.

Bitcoin (BTC) volatility has been found to be approaching a record low. On the 18th (local time), Bitcoin Archive reported via X that "Bitcoin’s volatility is nearing its lowest-ever levels and is showing a more stable trend than gold." They further analyzed, "The continued inflow of institutional funds is the key factor calming the market and reducing price volatility."

With Bitcoin’s (BTC) downtrend continuing, it has also broken below the $117,000 mark. As of 10:33 a.m. on the 18th, according to CoinMarketCap, Bitcoin is trading at $116,895.48, down 0.51% from the previous day. Elsewhere, Ethereum (ETH) is trading at $4,422.73, up 0.15% from the previous day, while XRP is trading at $3.05, down 1.1%. Solana (SOL) is currently recording $188.51, up 0.16% from the previous day.

Pump.fun has claimed an overwhelming top spot in the Solana (SOL) meme coin issuance platform market. According to Jupiter data on the 18th (local time), in the past 24 hours, Pump.fun secured the number one position with a 79.4% share of the Solana-based meme coin issuance platform market. Although it was once pushed down to second place due to the popularity of LetsBONK, it has now recovered its market share. LetsBONK holds second place with 12.9%, while Bags (BAGS) lags behind in third place with just 3.08%.

A recent analysis indicates that it is crucial for Bitcoin (BTC), which has seen a slight recent decline, to maintain the $118,000 level in order to avoid further drops. On the 17th (local time), CryptoQuant author Crazzyblockk said, "$118,000 is the average purchase price (realized price) for new investors who have held their assets for less than one month, and the amount they hold is about 1.69 million BTC," adding, "New investors are a key group supplying market liquidity in every cycle and represent short-term sentiment. This price range is a core area for interpreting short-term market trends." The author further stated, "Currently, Bitcoin is defending this critical area. If the $118,000 level holds, the uptrend is likely to continue; if it is lost, the risk of a short-term correction could increase." Meanwhile, on CoinMarketCap, Bitcoin is currently trading at $117,324.31, down 0.03% from the previous day.

It has been revealed that two newly created wallets received more than 20,000 Ethereum (ETH) from FalconX. On the 18th (local time), Onchain Lens reported on X, "Two newly created wallets received 25,684 ETH (about $115.11 million) from FalconX. There is a high possibility that the two new wallets belong to the same entity." As a large amount has moved to new addresses, there are suggestions that this may indicate long-term holding or strategic accumulation by institutional or whale investors.

The supply shortage of Ethereum (ETH) is deepening, and according to analysis, the likelihood of a bull market increases as the year-end approaches. On the 18th (local time), CryptoQuant author XWIN Research Japan reported, "A large amount of ETH is being withdrawn from exchanges, while ETF and corporate buying pressure are rising significantly. As a result, the current exchange balance is only about 18.4 million." They further stated, "In conclusion, due to the decreasing exchange supply and increasing institutional demand, Ethereum's supply is becoming increasingly tight. If this trend continues, there is a high likelihood that a robust bull market driven by supply shortages will unfold toward the end of the year."

An analysis suggests that XRP must recover $3.3 to avoid falling into the $2 range. On the 18th (local time), crypto asset (cryptocurrency) analyst Ali Martinez said on X, "If XRP fails to reclaim the $3.30 resistance level, it could drop to $2.6 or even $2." Meanwhile, XRP is currently trading at $3.10 on CoinMarketCap, down 0.12% from the previous day.

An analysis has emerged stating that the key support level for Solana (SOL) is $171. On the 18th (local time), cryptocurrency analyst Ali Martinez stated on X that "Solana's main support level is at $171 (around ₩230,000), with approximately 12.4 million SOL accumulated at this price range." Meanwhile, Solana is currently trading at $193.15 on CoinMarketCap, up 2.06% from the previous day.

Michael Saylor, Executive Chairman of MicroStrategy, has hinted at additional Bitcoin (BTC) purchases. On the 18th (local time), Saylor posted the Saylor Tracker chart on his X, stating that "there's not enough orange (buying)." In the past, Saylor has posted the Saylor Tracker chart before MicroStrategy's additional Bitcoin acquisitions.

According to an analysis, if the price of Bitcoin (BTC) reaches $1 million next year, it would not be a positive outcome but rather a sign that the U.S. economy is facing a severe crisis. On the 18th (local time), according to Cointelegraph, Mike Novogratz, CEO of Galaxy Digital, stated on a podcast, "The only way Bitcoin reaches $1 million next year is if the U.S. economy is in its worst state," and emphasized, "It is much better to have a lower Bitcoin price in a stable United States." He also commented, "A serious decline in currency value often comes at the sacrifice of social order," pointing out that when a national currency collapses, investors tend to move to alternative safe assets in order to protect their wealth. In this process, he explained that Bitcoin, which is often referred to as 'digital gold', could become such an alternative safe asset.

According to the Token Mindshare indicator of the AI-based Web3 search platform Kaito, which quantifies the influence of specific tokens in the virtual asset (cryptocurrency) market, as of the 14th, the top five most popular virtual asset-related keywords are OKB, Binance Coin (BNB), Polygon (POL), X Layer (XLAYER), and Bitcoin (BTC). OKB drew investor attention right after OKX announced the burning of 65,250,000 OKB the previous day, causing OKB’s price to soar 150% within an hour. Currently, OKB is trading at $106.25 on CoinMarketCap, up 127.54% from the previous day. Binance Coin was highlighted when U.S. Nasdaq-listed 707 Cayman Holdings announced plans to pursue an investment strategy involving Binance Coin alongside Bitcoin and Ethereum (ETH). Currently, Binance Coin is trading at $854.74 on CoinMarketCap, up 2.03% from the previous day. Polygon attracted attention after announcing that it would offer boost rewards to participants actively promoting 'Polygon Alpha Version x.' Currently, Polygon is trading at $0.2570 on CoinMarketCap, up 3.77% from the previous day. X Layer increased its online mentions after announcing its integration with the OKX ecosystem, aiming to evolve into a next-generation public chain focused on DeFi, payments, and real-world assets. Bitcoin set a new all-time high this morning, surpassing $124,000 at one point. Currently, it is trading at $122,800.61 on CoinMarketCap, having slightly retreated from its peak. In addition, investors have shown interest in Infinex, Solana (SOL), Dogecoin (DOGE), OKT Chain (OKT), and AnimeCoin (ANIME).

A whale investor has deposited 130,000 Solana (SOL) into multiple exchanges. According to Lookonchain on the 14th (local time), whale investor 'CMJiHu' deposited 130,000 SOL (worth approximately $26.45 million) into Binance, OKX, Bybit, and Gate.io. Typically, the movement of such a large amount of cryptocurrency to exchanges can be interpreted as a signal indicating the possibility of short-term selling, attracting market attention. Meanwhile, Solana is currently on an upward trend, trading at $208.5 on CoinMarketCap, up 4.89% from the previous day.

The virtual asset (cryptocurrency) exchange Bullish secured $1.1 billion in its listing (IPO) on the New York Stock Exchange (NYSE). According to SolanaFloor on the 14th (local time), Bullish raised $1.1 billion (about ₩1.5219 trillion) in its New York Stock Exchange IPO. The company plans to use these funds to migrate core infrastructure such as custody, settlement, trading, and clearing to a Solana (SOL)-based stablecoin.

Both Bitcoin (BTC) and Ethereum (ETH) have recorded substantial price increases following the launch of spot ETFs. On the 14th (local time), Nate Geraci, CEO of Novadius Wealth Management, said on X (formerly Twitter), "The criticism that cryptocurrency spot ETFs would serve as 'exit liquidity' has proven to be unfounded." He further explained, "When the Bitcoin spot ETF launched in January 2024, Bitcoin was priced at $47,000, but it now stands around $123,000, a rise of approximately 2.6 times. For Ethereum, when its spot ETF was launched in July last year, it was $3,500, and it is now up to $4,700."

The US Bitcoin (BTC) spot Exchange-Traded Fund (ETF) continued its net capital inflow trend the previous day. According to Trader T on the 14th (local time), the US Bitcoin spot ETF posted a net capital inflow of $86.92 million (approximately ₩120.3 billion) the previous day. This marks the sixth consecutive trading day of net inflows. Specifically, Fidelity FBTC saw a net inflow of $26.7 million, ARK Invest ARKB recorded $36.58 million, Grayscale Mini BTC received $11.42 million, Invesco BTCO had $4.9 million, and Bitwise BITB showed a net inflow of $7.32 million.

U.S. Ethereum (ETH) spot Exchange-Traded Funds (ETFs) saw a net inflow of over $700 million yesterday. According to TraderT on the 14th (local time), U.S. Ethereum spot ETFs recorded a net inflow of $704.32 million (about ₩975 billion) the previous day. This marks seven consecutive trading days of net inflows. On this day, BlackRock ETHA led the inflows with a net inflow of $476.02 million. In addition, Fidelity FETH recorded $154.69 million, Grayscale Mini ETH $51.34 million, Bitwise ETHW $10.85 million, Grayscale ETHE $7.83 million, and Franklin Templeton EZET $3.59 million in net inflows respectively.

Elon Musk's private aerospace company SpaceX now holds Bitcoin (BTC) worth over $1 billion. According to Arkham data cited by WuBlockchain on the 14th (local time), SpaceX holds a total of 8,285 BTC, which at current value exceeds $1 billion. It is reported that SpaceX has continued to hold its Bitcoin since purchasing it for the first time on December 31, 2020 and most recently accumulating more on June 10, 2022, with no sales reported to date.

Bitcoin (BTC) surpassed the $124,000 mark today, setting a new all-time high. There is analysis suggesting that the upward trend will continue through the end of the year. According to The Block on the 14th (local time), Rachel Lucas, an analyst at Bitcoin Market, stated, "Bitcoin prices are rising due to the expansion of spot ETFs and institutional demand," and forecasted that "a continuous upward trend will be seen for the remainder of the year." Lucas added, "A combination of supply shortages and strong structural demand will support further increases by year-end." Meanwhile, Bitcoin is currently trading at $123,487.09 on CoinMarketCap, showing a 3.49% increase compared to the previous day.

An address associated with Galaxy Digital has reportedly deposited over 100 million dollars into the decentralized futures exchange HyperLiquid (HYPE). According to Lookonchain on the 14th (local time), the Galaxy Digital-related address '0xcaC1' deposited 125 million USDC into HyperLiquid over the past two days. This wallet subsequently purchased Bitcoin (BTC), Ethereum (ETH), HyperLiquid (HYPE), Pump.fun (PUMP), and PartCoin (FARTCOIN) on the spot market. At the same time, it also established a hedging strategy by taking short positions on Bitcoin, Ethereum, Dogecoin (DOGE), Pump.fun, PartCoin, and Sonic (S).

An anonymous whale has reportedly accumulated over $150 million worth of Ethereum (ETH) in the past 3 hours. According to Lookonchain on the 14th (local time), the whale opened 2 new wallets in the past 3 hours and accumulated an additional total of 33,402 ETH (about $158 million). Additionally, over the last 10 days, this whale secured a total of 379,317 ETH (about $1.8 billion) through FalconX, Galaxy Digital, and BitGo. The whale’s Ethereum holdings are known to be distributed across 12 different wallets.

The United States Solana (SOL) staking exchange-traded fund (ETF) closed yesterday without any notable net capital inflow or outflow. According to Farside Investor on the 14th (local time), Rex Shares-Osprey's 'SSK', the first Solana staking ETF in the United States, recorded a net inflow/outflow of '0' on the previous day. Previously, on both the 7th and 11th, SSK also closed without any net capital inflow or outflow.

Bitcoin (BTC) has surged with unstoppable momentum, breaking through the $123,800 level. As of 9:14 a.m. on the 13th, according to CoinMarketCap, Bitcoin is trading at $123,851.68, up 3.18% from the previous day. On the Upbit KRW market, it is being traded at ₩169,279,000, drawing close to the ₩170,000,000 mark.