Headlines
▌BTC falls below $93,000
The market shows that BTC fell below $93,000 and is now at $92,964.97, with a 24-hour drop of 8.24%. The market is volatile, so please do a good job of risk control.
▌BNB falls below $540
The market shows that BNB fell below $540 and is now at $539.48, with a 24-hour drop of 18.45%. The market is volatile, so please do a good job of risk control.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $93,332.93, with a daily increase or decrease of -7.6%;
ETH's latest transaction price is $2,523.81, with a daily increase or decrease of -19.9%;
BNB's latest transaction price is $561.41, with a daily increase or decrease of -15.1%;
SOL's latest transaction price is 185.93 US dollars, and its intraday increase and decrease is -14.5%;
DOGE's latest transaction price is 0.2302 US dollars, and its intraday increase and decrease is -26.5%;
XPR's latest transaction price is 2.11 US dollars, and its intraday increase and decrease is -28.2%.
Policy
▌Bitwise CEO: Regulators may approve five spot ETFs this year
Bitwise CEO Matt Hougan said regulators may approve up to five spot ETFs for different digital assets this year. However, to achieve this goal, he said the SEC needs to cross the regulatory "Rubicon".
▌Reuters: India re-examines cryptocurrency stance due to global policy changes
According to Reuters, Indian Economic Affairs Minister Ajay Seth said in an interview that India is re-examining its stance on cryptocurrencies due to changes in other countries' attitudes toward crypto assets. The review comes after U.S. President Trump announced a cryptocurrency-friendly policy and may further delay the release of a cryptocurrency discussion paper originally scheduled for September 2024.
Ajay Seth said: "More than one or two jurisdictions have changed their stance on cryptocurrencies in terms of usage, acceptance and how to view the importance of crypto assets. In the process, we are re-examining this discussion paper." He said that because such assets are "not limited by national borders", India's stance cannot be unilateral, but did not specifically mention the United States.
▌US President Trump: New tariffs will be imposed on the European Union soon
On February 2, local time, US President Trump said he would "definitely" impose new tariffs on the European Union. He once again complained about the US trade deficit with the European Union and believed that the EU's imports of US cars and agricultural products were insufficient. Trump did not specify the level of tariffs or timetable. "I won't say there is a timetable, but there will be one soon," he told the media.
▌U.S. Marshals Service Failed to Submit Report on Handling of Dark Web Silk Road Seized Bitcoin to Senator Lummis in Time
The U.S. Marshals Service (USMS) failed to provide Senator Cynthia Lummis with detailed information on its handling of the dark web Silk Road case by last Friday's deadline, according to people familiar with the matter.
Lummis wrote to the USMS last month, expressing concerns about the agency's plan to sell approximately 69,370 seized bitcoins, which are worth more than $6.6 billion at current market prices. She noted that this could result in financial losses to taxpayers and conflict with the policy directives of the Trump administration. The letter called on the USMS to increase transparency in the management of bitcoin assets, including public disclosure of holdings. The letter also sought to hold the agency accountable for past losses and ensure better decisions in the future.
▌Satoshi Action Fund: Utah may become the first state in the United States to establish a Bitcoin reserve
Utah may become the first state in the United States to establish a Bitcoin reserve due to its short legislative window and "political momentum."
Dennis Porter, CEO of Satoshi Action Fund, said in an interview with U.S. Senator Cynthia Lummis on February 2 that Utah has a great chance of becoming the first state in the United States to establish a Bitcoin reserve because they only have 45 days to make a decision.
Dennis Porte said in an interview on January 21: "Either succeed or fail within 45 days. No other state has a shorter legislative time, and no other state has more political motivation and determination to get it done."
Blockchain Applications
▌Phantom Wallet Beta supports Sui ecology, adding new transaction and DApp interaction functions
According to the official announcement of Phantom, the Beta version of Phantom Wallet now supports Sui ecology. Users can send, receive and trade assets such as SUI, USDC in the wallet, and explore Sui ecological applications such as Suilend and Cetus. Users can enable Sui in the settings. Officials said that NFT support, cross-chain exchange and other functions will be launched in succession.
Cryptocurrency
▌The total on-chain holdings of the U.S. spot Bitcoin ETF have exceeded 1.2 million BTC
According to Dune data, the total on-chain holdings of the U.S. spot Bitcoin ETF have exceeded 1.2 million BTC, and now reach about 1.204 million BTC, accounting for 6.08% of the current BTC supply, and the on-chain holdings are worth about US$123 billion.
▌Analysts: Crypto markets hit by risk aversion after Trump announces tariff policy
According to Bloomberg, BTC Markets CEO Caroline Bowler said: "Trump's tariff policy is affecting the entire market, and concerns about trade wars and stagflation-induced recessions are spreading to altcoins and Bitcoin markets." BTC fell to around $97,000, the lowest level in more than two weeks.
Specifically, BTC fell 4.3% in trading last Sunday, ETH fell 8%, and the selling of altcoins was more intense. Including DOGE, which fell about 14% during the trading session, it has fallen 45% from the highs reached after Trump's victory on December 8 last year stimulated a rebound in digital assets. Altcoins such as XRP, ADA, AVAX and LINK all fell by more than 10%.
▌The total market value of cryptocurrency fell below $3.3 trillion, with a 24-hour drop of more than 8%
According to CoinGecko data, the total market value of cryptocurrency fell below $3.3 trillion, now at $3.279 trillion, with a 24-hour drop of 8.4%.
Important economic dynamics
▌The Canadian dollar fell to a 20-year low, and the US dollar strengthened against most G-10 currencies
Affected by Trump's tariff news, the US dollar opened higher against most G-10 currencies in the Sydney market, and the Canadian dollar fell to a 20-year low. The euro/dollar fell 0.6% to $1.0300; the Australian dollar/dollar fell 0.4% to $0.6192.
Golden Encyclopedia
▌What is chain abstraction?
Chain abstraction in blockchain works by providing a single interface that enables users and developers to interact with multiple blockchains without having to manage the complexity of each individual chain. Chain abstraction solutions are still under development, and many companies are working to solve the problem. At present, how this all works is not an exact science, but multi-chain solutions may allow users to seamlessly use Web3 from a single account.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.