Uk Jin

The 'Bitcoin (BTC) OG whale,' who gained fame for reportedly accurately predicting the October 10 liquidation event, deposited Bitcoin to an exchange. On the 26th (Korean time), according to OnChain Lens, the insider whale deposited 200 Bitcoin to the Kraken exchange about 3 hours ago. Over the past two weeks, 5603 Bitcoin have been deposited to that address.

An opinion emerged that the Bitcoin cycle could be longer than expected when considering the relationship between the Institute for Supply Management (ISM)'s manufacturing Purchasing Managers Index (PMI), a major macroeconomic indicator, and Bitcoin (BTC). On the 26th (Korean time), according to crypto-focused outlet Cointelegraph, analyst Collin Talks said, "The peaks of the last three Bitcoin cycles all coincided with the cyclical peaks of this index," and "If this relationship continues, the Bitcoin cycle could be much longer than is generally expected." The ISM manufacturing PMI is an indicator that measures U.S. industrial activity. The indicator has recorded values at or below 50 for seven consecutive months, indicating that the economy remains in contraction. Analysts say that when the PMI exceeds 50, signaling economic recovery, Bitcoin's price can also rise. Collin Talks explained, "Even while Bitcoin and S&P500 were hitting record highs, the PMI was still at low levels," and "If the PMI rises, Bitcoin's price could rise further."

According to the token Mindshare top gainers of Kaito, an AI-based Web3 search platform (Token Mindshare·an indicator that quantifies the influence of a specific token in the cryptocurrency market), as of the 26th the top five cryptocurrency-related keywords drawing the most attention are Vultisig (VULT), Zcash (ZEC), Bitget Token (BWB), Coinbase, and Bitcoin (BTC). Vultisig, which ranked first in attention, recently announced a token sale, raising investors' expectations. Vultisig is an MPC (multi-party computation) cryptocurrency wallet that supports multiple chains without seed phrases. It is currently operating a leaderboard as well, and mentions by investors have increased significantly. Zcash took second place. Zcash recorded a solid gain of 7.37% in one day, attracting investors' attention. As of that day, Zcash's price was $287.92, which represents a 428.45% surge compared with the previous month. Third was Bitget Token. Interest among investors gathered as Bitget held a large event. Bitget allocated a total of $14,350 in event rewards for new customers. The event period is October 16–November 16. In addition, Bitget recently drew investors' attention by announcing support for U.S. stock trading. Meanwhile, Coinbase drew investors' attention on expectations for token issuance for its blockchain Base (BASE). Jesse Pollak, the founder of Base, said at last month's 'BaseCamp' event, "Token issuance can accelerate the network's decentralization and expand builder participation." J.P. Morgan's equity research team assessed in a report that "if Coinbase launches a Base token, considering current network activity and the token economic model, the token's market capitalization could reach $12 billion to $34 billion." Finally, the top cryptocurrency Bitcoin ranked fifth. This week, major macroeconomic events such as a meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the APEC summit and the Malaysian ASEAN summit are scheduled, which is interpreted as investors showing great interest in Bitcoin's direction. In this regard, Jeff Kendrick, head of research at Standard Chartered, forecasted that "if U.S.-China tensions escalate, Bitcoin could fall below $100,000." Investors also showed interest in BlueWhale (BLUEWHALE), DigiByte (DGB), VOOI (VOOI), BNATR (BNATR), and SUI (SUI).

Hyperliquid (HYPE) is showing an intraday surge. As of 11:32 a.m. on the 26th (Korea Standard Time), Hyperliquid is trading at 44 dollars, up 10.75% from the previous day. With today's rise, Hyperliquid has fully recovered the losses from the liquidation event on October 10.

Fuzzy Penguin (PENGU) teased a collaboration with the animated 'Kung Fu Panda'. On the 26th (Korean time), Fuzzy Penguin said on X (formerly Twitter), "Fuzzy Penguin will enter the world of Po, Master Shifu, and Grand Master Oogway." It added, "More information will be provided later."

Limitless (LMTS) is surging intraday. On the 26th (Korean time), according to CoinMarketCap, a virtual asset (cryptocurrency) market status provider website, Limitless is trading at 0.4174 dollars, having surged 111.55% compared with the previous day.

Interest from traditional finance in XRP appears to be continuing. The United States' first spot XRP exchange-traded fund (ETF), 'Rex Osprey XRP exchange-traded fund (XRPR)', has surpassed $100 million in assets under management. On the 26th (Korean time), Rex Shares said via X (formerly Twitter) that XRPR recorded assets under management of $100,891,000 one month after its launch. XRPR is the first ETF in the United States to offer investors exposure to spot XRP assets. However, the ETF does not hold XRP as a single asset and is managed as a portfolio composed of XRP and related products. Rex Shares stated, "The fund will invest at least 80% of its assets in XRP and XRP-related products."

Trump Grants Surprise Pardon to Changpeng Zhao Will Binance Coin Lead the Rally? "Expectations for Binance's U.S. Operations to Ramp Up" "Domestic GOPAX Acquisition Also Gains Traction" U.S. President Donald Trump granted a surprise pardon to Changpeng Zhao (CZ), the founder of Binance, the world's largest virtual asset (cryptocurrency) exchange. The virtual asset industry is closely watching the potential impact of the move on the market. The White House said in a statement on the 23rd (local time) that "President Trump used his constitutional authority to pardon Changpeng Zhao." White House spokeswoman Caroline Leavitt said, "CZ was a figure prosecuted amid the Biden administration's war on virtual assets," adding, "The Biden administration pursued him out of a desire to punish the virtual asset industry despite there being no fraud charges or specific victims." Changpeng Zhao said on X, "I thank President Trump," and "I will do my best to make the United States the capital of virtual assets." The market reacted immediately. Binance's utility token, Binance Coin (BNB), jumped from 1085 dollars to 1150 dollars—about a 6% surge—immediately after the pardon announcement. Virtual assets based on the BNB Chain or associated with the BNB Chain also saw significant gains. Representative examples include World Liberty Financial (14%), MemeCore (4.5%), Aster (13.4%), and MYX Finance (9.2%). It is interpreted that investor sentiment strengthened amid expectations that Binance's U.S. operations could be fully revived. Binance's U.S. operations had been effectively suspended after a 2023 guilty verdict in the United States for violating anti-money laundering (AML) laws. The Wall Street Journal (WSJ) reported, "(With this pardon) there is a high possibility that a path for Binance to return to the U.S. could open up." Will Binance Coin Lead an 'Altcoin Bull Market'? There are also views that Binance Coin could lead an upcoming 'altcoin bull market.' Prior to the news of Changpeng Zhao's pardon, Binance Coin had shown notable gains among major altcoins, supported by solid on-chain trading volume and the emergence of popular projects. This is why the market had evaluated that "Binance Coin has become the protagonist of an 'Uptober.'" Demand could also increase significantly. Binance Coin is used for various purposes, such as fee discount benefits on the Binance exchange, participation in Binance Launchpad initial coin offerings (ICOs), DeFi activities, and everyday payments. Jung Seok-moon, director of the Prestori Research Center, said, "Currently, Binance US, Binance's U.S. subsidiary, offers only limited services for Binance Coin, which is restrictive from a supply-demand perspective," adding, "However, as Binance US expands its operations, the use cases for Binance Coin in the U.S. could expand." There is also analysis that if Binance were to re-pursue an initial public offering (IPO), Binance Coin could serve as a kind of equity proxy. Binance US had originally been preparing for an IPO since 2021. However, the 2022 crypto market crash and the subsequent emergence of anti-money laundering legal risks the following year led to the IPO's collapse. As virtual asset companies such as Circle and Bullish have successfully completed IPOs this year, Binance US may also reattempt an IPO. Director Jung said, "Because Binance is a privately held company, investors who want to invest in Binance have limited options," and analyzed, "Binance Coin could be regarded as an alternative investment to Binance shares." Possibility of Accelerated Entry into South Korea Attention is also focused on the impact Changpeng Zhao's pardon may have domestically. Because Binance may have shaken off legal risks as a result of this pardon, it is likely to speed up its domestic business entry. Binance recently completed the acquisition process of the domestic virtual asset exchange GOPAX. An industry official said, "It is uncertain whether Changpeng Zhao's pardon will completely resolve Binance's legal risks," but added, "(The pardon) is highly likely to have a positive impact on Binance's GOPAX acquisition."

Web3 project PEAQ said on the 22nd that it has signed a memorandum of understanding (MOU) with the Dubai Virtual Assets Regulatory Authority (VARA) to establish regulations for the machine economy. The machine economy is an economic system in which machines such as robots, vehicles, and drones provide services and exchange value on a blockchain-based network. The agreement was signed on the occasion of 'GITEX Global 2025', held in Dubai from the 13th to the 17th of this month. The MOU included regulatory guidelines for PEAQ-based projects, talent training, and data reporting. PEAQ said the MOU is part of a strategy to expand the 'Machine Economy Free Zone (MEFZ)' currently operating in the United Arab Emirates (UAE). MEFZ is a regulatory sandbox for on-chain robotics and decentralized physical infrastructure (DePIN) projects. VARA plans to officially recognize MEFZ through this agreement and to strengthen related policy discussions and support. In addition, PEAQ and VARA will cooperate in areas such as VARA license application guidance, professional talent development, and sharing economic data. Max Take, PEAQ co-founder, said, "The UAE is the optimal place to set the global standard for machine tokenization as a hub of Web3 and robotics innovation," adding, "This agreement is an important milestone for realizing a machine economy that complies with regulations."

The whale, who was previously identified as an insider for precisely timing the last sharp decline, appears to have again made large profits in the futures market. On the 21st (Korean time), BlockBeats reported that the whale has currently made about $1.8 million (about 2.57 billion won) in profits from Bitcoin (BTC) short bets. This came as Bitcoin widened its losses. As of 1:26 PM that day, Bitcoin was trading at $108,266, down 1.62% from the previous day.

According to Kaito's Token Mindshare top gainer (Token Mindshare, a metric that quantifies the influence of a specific token in the virtual asset (cryptocurrency) market), as of the 21st the top 5 virtual asset-related keywords that people are most interested in are Coinbase, Ethereum (ETH), Solana (SOL), Polygon (POL), Zcash (ZEC), etc. Coinbase took first place. Recently, due to a large-scale service outage at Amazon Web Services (AWS), Coinbase and other major cloud-based platforms experienced temporary access disruptions, raising investors' concerns. Second and fourth places were taken by Ethereum and Polygon. Investor attention focused as Polygon's founder publicly voiced grievances against Ethereum. Sandeep Nailwal, CEO of the Polygon Foundation, criticized, "The Ethereum community is ignoring Layer 2 projects," and said, "If Polygon had emerged as a Layer 1 rather than an Ethereum Layer 2, it could have grown much more." In response, Ethereum founder Vitalik Buterin immediately replied, "Polygon has greatly contributed to the Ethereum ecosystem." Third place was Solana. Investor interest gathered after it was confirmed via GitHub that Solana founder Anatoly Yakovenko is developing a derivatives DEX called 'Percolator' (Perp DEX) on its own network. Finally, fifth place was Zcash. As of 1 p.m. that day, Zcash was at 259.73 dollars, up 6.45% from the previous day. With the continuous upward trend, investor attention is focused. In addition, Floki (FLOKI), Melee (MELEE), Tether (USDT), Kalsi, Chainlink (LINK) also ranked high in interest.

Binance's Bitcoin (BTC) net inflow indicator has shown a marked decline over the past few weeks. On the 21st (Korean time), CryptoQuant contributor Bukkakesumeshi said in a report, "Binance's Bitcoin net inflow 30-day moving average (SMA30) remains in negative (-) territory," adding, "This means that outflows from the exchange exceed inflows, suggesting that Bitcoin is gradually being accumulated in the market." The contributor went on to say, "It is difficult to judge the overall trend based solely on daily inflows and outflows, but based on long-term averages, investors have become more inclined to hold rather than sell," and analyzed, "This trend generally aligns with a market 'accumulation phase'." The conclusion is that, in this situation, Bitcoin may find price stability. The contributor added, "Some in the market believe that a decrease in net inflows could reduce trading liquidity in the short term, but in the long term it could alleviate supply pressure and contribute to Bitcoin price stability."

Eric Trump said that his brothers are all deeply interested in virtual assets (cryptocurrencies). On the 21st (local time), in an interview with CoinDesk, Eric Trump said, "I was the first in our family to discover virtual assets," while also saying, "Barron Trump (the Trump family's youngest son) enjoys meme coins and various fun projects and likes virtual assets very much." He added, "Virtual assets make up a large part of our relationship, and he derives a lot of enjoyment from them." Eric Trump also said, "His brother Donald Trump Jr. is also enjoying himself a lot, working on the global stage after starting World Liberty Financial (WLFI)." He emphasized, "We approach it for fun but are very serious at the same time."

Ethereum (ETH) spot exchange-traded fund (ETF) experienced a net outflow. On the 20th (local time), according to TraderT, the Ethereum spot ETF recorded a net outflow of $146,000,000. BlackRock ETHA and Fidelity FETH had net outflows of $118,200,000 and $27,800,000, respectively.

Bitcoin (BTC) spot exchange-traded funds (ETFs) recorded a net outflow. On the 20th (local time), according to TraderT, Bitcoin spot ETFs had a net outflow of 40.4 million dollars. Fidelity FBTC (+9.7 million dollars), Bitwise BITB (+12.1 million dollars), Invesco BTCO (+9.9 million dollars), VanEck HODL (+21.2 million dollars), Grayscale BTC (+7.4 million dollars) recorded net inflows, but only BlackRock IBIT saw a net outflow of 100.6 million dollars, failing to record a net inflow.

The stock of Solana Company (formerly Helius Medical Technologies), which designated Solana (SOL) as a reserve asset, has been falling sharply since last week. On the 20th (local time), according to Nasdaq, Solana Company closed at 6.87 dollars, down 11.47% from the previous day. This is about a 57% decline compared with the closing price on the 15th (15.92 dollars). This followed the decision to allow early sales of stakes by PIPE participants. Solana Company allowed the PIPE shares issued in September at 6.881 dollars per share to be sold earlier than originally scheduled. This is interpreted as creating downward pressure amid concerns that short-term selling could pour in. Solana Company said, "We will filter out investors who are weak against short-term selling pressure, but we will solidify a base centered on long-term investors."