Uk Jin

There was an opinion that EVM sidechains will play a decisive role in the expansion of the XRP Ledger (XRPL) ecosystem. EVM sidechains are sidechains that introduce Ethereum (ETH) smart contract functionality to the XRP Ledger, providing a space where developers can easily build applications equipped with interoperability between various blockchains. GM Dragonfly Partner explained at 'APEX 2025' held in Singapore on the 11th (local time), “(Personally) the part I’m most looking forward to in the XRP Ledger is the EVM sidechain,” adding, “EVM sidechains can serve as a gateway to attract Solidity (Ethereum’s development language) developers and capital into the XRPL ecosystem.” GM also shared insights into how venture capitalists (VCs) have recently been viewing the virtual asset market. He said, “From a VC’s perspective, now is the best time to start a virtual asset business,” and added, “The regulatory environment is much clearer now than it was a few years ago, and even outside of the United States, countries like Singapore and some other Asian nations now offer environments where founders can actually build products.” However, GM emphasized that ‘execution’ of projects will be the key to success, differing from the past. He said, “In the old days, just having a good idea could attract a large amount of investment,” but stressed, “Now, a real revenue model and clear product-market fit are necessary.” He continued, “For example, Hyperliquid (HYPE) is a simple exchange, but generates annual revenues of millions of dollars and uses most of the profits for token buybacks and burns,” adding, “A clearly defined business structure is necessary to attract investors.” Singapore=Jinwook, Bloomingbit reporter wook9629@bloomingbit.io

David Schwartz, CTO of Ripple, asserted that the XRP Ledger (XRPL) is a blockchain well-suited as a solution for Web3 finance. On the 11th (local time), at Ripple's 'APEX 2025' event in Singapore, Schwartz emphasized, "The most frequently asked question in the industry is 'How is the XRP Ledger different from Bitcoin (BTC) and Ethereum (ETH)?' Bitcoin is designed as a store of value, Ethereum is application-centric, whereas the XRP Ledger is built as a platform for financial applications." He further added, "Because of this focus, since its mainnet launched in 2012, we have concentrated on speed, reliability, and low fees." Schwartz CTO explained that the recent acceleration of institutional entry into Web3 can also have a positive impact on the XRP Ledger. He stated, "In the past, institutions perceived using public blockchains as very risky, but now, a perception is spreading that not using public chains is even riskier." He emphasized, "Institutions are already launching many products on public blockchains, including the XRP Ledger." Ripple also stated that the products on the XRP Ledger go beyond simple design and are being used in practice, which has attracted institutional interest. Joining Schwartz on the session, Jazzy Cooper, Product Lead at RippleX, commented, "What attracts institutions most to the XRP Ledger is that stablecoin-based payments have moved beyond ideas to actual transactions." He added, "Compared to fees over 6% on a $200 remittance in traditional finance, stablecoin-based remittances significantly reduce fees." Additionally, Cooper cited the strengths of the XRP Ledger as: ▲increased collateral liquidity through tokenization, ▲the digitization of trade via smart escrow, among others. He stated, "The XRP Ledger is infrastructure that is operational right now," noting "The XRP Ledger is already solving infrastructure issues that existed in traditional finance." Singapore—Jinwook Bloomingbit

On the 9th (KST), on-chain data analyst ai_9684xtpa reported via X (formerly Twitter) that a whale who had accumulated 10,900 Ethereum (ETH) on Binance in 2021 recently transferred 4,732 Ethereum to an exchange over the past 8 hours. As of 3:02 PM that day, according to CoinMarketCap, the price of Ethereum was $2,483, down 1.17% from the previous day, and the amount the whale deposited onto the exchange totals around $11.75 million.

The leading cryptocurrency (virtual asset) Bitcoin (BTC) is holding at $105,000, but concerns are being raised that the current price level is structurally vulnerable. According to the crypto-specialized media The Block on the 9th (Korean time), Dominic John, an analyst at Kronos Research, said, "The fact that Bitcoin is trading above $105,000 signals strength, but the structure remains fragile," and added, "With the Fear & Greed Index at 55, market sentiment is showing a wait-and-see attitude." Some believe that a market that has entered a wait-and-see mode could reel even from minor shocks. Keiru Hashiki, CEO of Ecolabs, pointed out, "Bitcoin is trading near a major support range, and tense investors could move to panic sell at the onset of a single adverse event." Meanwhile, The Block explained that macroeconomic factors could serve as a major variable for the future route of Bitcoin. Minjeong, an analyst at Presto Research, said, "This week, inflation data such as the United States May Consumer Price Index (CPI) and Producer Price Index (PPI) will be released," adding, "Should the actual figures deviate from expectations, the market could be significantly affected."

Famous Hyperliquid (HYPE) whale James Wan closed his long position (bullish bet) just about 5 hours after opening it. According to Onchain Lens on the 9th (KST), James Wan closed his 40x leverage Bitcoin (BTC) long position after incurring a loss of $85.92. Subsequently, he opened a Bitcoin short position (bearish bet) with 40x leverage.

Last week, a large amount of funds flowed into Ethereum (ETH) spot exchange-traded funds (ETFs). According to Odaily on the 9th (KST), Ethereum spot ETFs saw a total net inflow of $281 million last week. The product with the largest net inflow was BlackRock ETHA, which recorded a total weekly net inflow of $249 million.

Last week, a significant amount of funds exited Bitcoin (BTC) spot exchange-traded funds (ETF). According to Odaily on the 9th (KST), a total net outflow of $129 million was recorded across nine Bitcoin spot ETFs last week. The product with the largest net inflow was BlackRock IBIT, which saw a total net inflow of $81 million. The product with the largest net outflow was Fidelity FBTC, recording a net outflow of $168 million.

According to the Token Mindshare Top Gainer metric of the AI-based Web3 search platform Kaito, as of the 9th, the top 5 keywords related to virtual assets attracting the most attention are Arbitrum (ARB), Kaito (KAITO), Bancor Coin (BNKR), Solana (SOL), and Hyperliquid (HYPE). Arbitrum and Kaito have taken the first and second spots, respectively. As the major cryptocurrency Arbitrum has joined the Kaito reward, it has garnered the interest of investors. By mentioning Arbitrum on Twitter, you can receive Kaito points. The reward pool is 400,000 Arbitrum and will run for three months. Bancor Coin, which has continued its upward trend for two consecutive days, claimed the third spot, drawing in investors. As of 1:20 p.m. today, Bancor Coin is trading at $0.0004014 on CoinGecko, up 14.6% from the previous day. Solana ranks fourth. Attention was drawn to Solana as Cathy Wood, CEO of a major asset management firm dubbed the 'Money Tree Sister,' gave a positive evaluation of Solana. In an interview, Cathy Wood stated, "You only need to own Bitcoin (BTC), Ethereum (ETH), and Solana." Hyperliquid is in fifth place. The moves of Hyperliquid whale James Wynn have attracted investor interest. Earlier this morning, James Wynn closed his short position and switched to a long position during the session. Other coins such as Pepe (PEPE), Vader (VADER), Avalanche (AVAX), Debt Relief Bot (DRB), and Audius (LOUD) also ranked high this time.

MetaPlanet, often referred to as the 'Japan's Strategy (formerly MicroStrategy)', is surging sharply during intraday trading. This is attributed to a surge in investors following the announcement of a large-scale fundraising plan last week. According to the Tokyo Stock Exchange (TSE) on the afternoon of the 9th (Korea time), MetaPlanet was trading at ¥1,567 intraday, up 16.85% from the previous trading day. The reason behind MetaPlanet’s stock price increase is believed to be its capital increase plan announced last week. According to Bloomberg, last Friday, MetaPlanet announced a dedicated Bitcoin (BTC) capital increase plan worth about ₩7,270,000,000,000 (¥770,900,000,000). Simon Gerovich, CEO of MetaPlanet, said, "We plan to raise funds by issuing convertible warrants for 550 million new shares at a premium price, leveraging our unique stock price volatility and liquidity." Along with the capital-raising plan, MetaPlanet also announced its intention to increase its Bitcoin holdings to 210,000 units by 2027. On this, Richard Galvin, co-founder of DACM, explained, "Treasury companies, including MetaPlanet, are providing a new source of purchase demand for virtual assets and tokens."

John Deaton, a lawyer who rose to fame for supporting Ripple, has urged the purchase of Bitcoin (BTC). On the 8th (local time), Deaton said on his X (formerly Twitter), "Even 15 years ago, I didn't tell people to buy Bitcoin through a mortgage loan," adding, "However, I am actually selling real estate, and my average purchase price for Bitcoin is below $25,000." Deaton argued that despite Bitcoin's substantial price increase, now is actually a better time to buy Bitcoin. He said, "Even I didn't know if I would buy Bitcoin at prices above $100,000," adding, "Right now is actually a better time to purchase Bitcoin." He went on to emphasize, "Currently, there is a possibility that the Genius Act (the U.S. stablecoin bill) could pass in the United States." In addition, Deaton cited the following reasons to buy Bitcoin: ▲ the depreciation of fiat currency due to increasing debt, and ▲ the adoption of Bitcoin by various countries.

Recently, as the number of companies incorporating Bitcoin Treasury as a strategic financial asset increases worldwide, there have been opinions suggesting that concerns about these companies are excessive. On the 9th (KST), Alex Thorn, Head of Research at Galaxy Digital, stated via X (formerly Twitter), "I'm aware that the industry is concerned about the debt issues of Bitcoin Treasury companies," but added, "I think these fears are exaggerated." He continued, "In reality, the debt is not that significant, and most of it matures after more than two years." According to the chart shared by Thorn, $650 million of debt scheduled to mature in July 2024, $500 million due in September 2024, and $1.05 billion due in February 2025 have all been successfully repaid. Currently, the period with the largest amount of upcoming debt maturities is June 2028, with $3.65 billion scheduled for repayment.

Virtual assets (cryptocurrency) and token securities (STO) related stocks are showing a sharp surge during intraday trading. As of 10:39 a.m. (Korean time) on the 9th, according to the Korea Exchange, Danal is trading at ₩4,445, soaring 26.46% from the previous trading day. Danal is a company operating in the virtual asset and fintech business, issuing the virtual asset Paycoin (PCI). Danal is not the only one. Galaxia Moneytree, which is engaged in the STO business, has already reached the upper limit during intraday trading. Korea Information Certificate Authority (21.16%↑) and Finger (15.07%↑) have also shown strong upward momentum. It is interpreted that expectations for President Lee's virtual asset and STO-friendly policies are being reflected in stock prices. Recently, President Lee appointed Kim Yong-beom, CEO of Hashed Open Research, to the position of policy chief. Based on his experience at Hashed Open Research, there is a consensus in the industry that Chief Kim has a good understanding of virtual assets and will pursue friendly policies.

Attention is focused on whether altcoins such as XRP will be included in Nasdaq’s crypto asset (cryptocurrency) benchmark index. According to Bitcoin.com News on the 8th (local time), Nasdaq submitted a rule change application to the Securities and Exchange Commission (SEC) on the 6th, outlining plans to include altcoins such as XRP, Solana (SOL), ADA, and Stellar Lumens (XLM) in its crypto asset benchmark index. In particular, if this rule change is ultimately approved, those altcoins could be included in the Hashdex Nasdaq Crypto Index ETF (NCIQ), following Bitcoin (BTC) and Ethereum (ETH). Meanwhile, the SEC’s final decision date on the proposed rule change is scheduled for November 2. The media outlet assessed that “If the proposal is approved, institutional investor trust in and market exposure to altcoins such as XRP could increase.”

A large amount of Ethereum (ETH) was deposited into Binance. On the 9th (KST), on-chain data analyst AmberCN reported on X (formerly Twitter) that “a whale, who recently earned a profit of $6,860,000 from a PEPE investment, deposited 6,200 Ethereum (ETH) into Binance over the past 3 days.” As of 9:39 a.m. today, the price of Ethereum stands at $2,507, giving the transferred amount a total value of $15,549,600. This whale is currently holding about 36,700 Ethereum across various decentralized finance protocols.

While Bitcoin (BTC) held the $105,000 level over the weekend, futures betting appears to have surged regarding the cryptocurrency's next direction. As of 9:28 AM KST on the 9th, CoinGlass data shows that if Bitcoin surpasses $107,000, approximately $532 million in short positions (bearish bets) on centralized exchanges (CEX) are expected to be liquidated. Conversely, if Bitcoin falls below $104,000, $976 million in bullish bets are expected to be liquidated. Meanwhile, according to CoinMarketCap, Bitcoin is currently trading at $105,830, up 0.24% from the previous day.

The notable Hyperliquid (HYPE) whale, James Win, has switched from a short position (bearish bet) to a long position (bullish bet). According to Onchain Lens on the 9th (KST), James Win closed his 40x leveraged Bitcoin (BTC) short position after recording a loss of $174.18. Following the closing of this position, Win opened a long position using 40x leverage. Onchain Lens reported, "Each time Win opens a position, the market is moving in the opposite direction."

According to Alternative, a virtual asset (cryptocurrency) data provider, on the 9th (KST), the Fear and Greed Index for virtual assets recorded 62 points, unchanged from the previous day. As of 9:04 AM, Bitcoin (BTC) is trading at $105,794 on CoinMarketCap, up 0.14% from the previous day. Altcoins showed mixed trends. At the same time, Ethereum (ETH) fell by 0.56%, whereas XRP rose by 4.08%. Additionally, Binance Coin (+0.23%), Solana (+1.71%), and ADA (+0.90%) increased, while Dogecoin (-0.26%) and TRON (-1.75%) declined. The Fear and Greed Index is an indicator representing market sentiment: the closer to 0, the more extreme the fear; the closer to 100, the more extreme the greed. This index is calculated based on factors such as volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap share (10%), and Google search volume (10%).

While investors continue to anticipate the arrival of the altcoin (virtual assets other than Bitcoin) season, some suggest that Bitcoin (BTC) dominance could be a key indicator for identifying the onset of altseason. According to the cryptocurrency-focused media outlet Coindoo on the 9th (KST), crypto analyst Miles Deutscher unveiled the AI-powered model 'Altcoin Rally Score (ARS)' on X (formerly Twitter) to forecast the arrival of altseason. The first variable in Deutscher's ARS model was 'Bitcoin dominance.' He explained that, to predict the arrival of altseason, one must assess capital rotation, and that tracking Bitcoin dominance falling below 60% is crucial. In addition, Deutscher said he set ▲Ethereum's all-time highs against Bitcoin, ▲a sharp rise in the altseason index, and ▲retail and trend indicators as parameters of ARS.

The decentralized identity verification project Worldcoin (WLD) is expanding to the United Kingdom. According to CNBC on the 8th (local time), Worldcoin plans to install Orbs in major UK cities, starting with London this Thursday, and continuing to Manchester, Birmingham, Cardiff, Belfast, and Glasgow. Meanwhile, as of 8:28 a.m. on the 9th (KST), Worldcoin is trading at $1.10, down 1.80% from the previous day.

Recently, as the issuer of the stablecoin (a virtual asset pegged to fiat currency) USDC, Circle, achieved great success with its Initial Public Offering (IPO) on the US stock market, attention has also turned to whether Tether (USDT), which holds the largest stablecoin market share, might pursue an IPO. However, Tether has maintained a firm stance that an IPO is unnecessary. According to CoinQ, a leading cryptocurrency media outlet, on the 9th (KST), Paolo Ardoino, CEO of Tether, recently stated in a community, "There is no need for us to go public." Circle’s recent successful large-scale IPO in the United States naturally sparked market curiosity about the possibility of a Tether IPO, hence Ardoino’s remark. On the 6th, Circle closed at $107.7 on the New York Stock Exchange, up 29.4% from the previous day. On its listing day, it even recorded an impressive 168.48% rise. There has also been a virtual valuation estimate for Tether. John Ma, founder of Artemis, said, "If Tether goes public, the corporate value could reach $515 billion," adding, "This surpasses the levels of Coca-Cola and Costco." Paolo Ardoino, CEO of Tether, responded to John Ma’s valuation by calling it "a beautiful number" and said, "Considering the Bitcoin (BTC) and gold reserves we hold, it's actually a somewhat conservative estimate."