Bitget Daily Morning Report: $167 million liquidated across crypto markets in 24H, UK adopts DeFi "no gain, no loss" tax treatment
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Bitget Daily Morning Report: $167 million liquidated across crypto markets in 24H, UK adopts DeFi "no gain, no loss" tax treatment
Solana ETF had a net inflow of 238,037 SOL yesterday.
Navigating Web3 tides with focused insightsAuthor: Bitget
Today's Outlook
1. Onchain Lens monitoring: Arthur Hayes has again increased his holdings by 2 million ENA, worth approximately $556,000; and 364,987 ETHFI, worth approximately $287,000.
2. The UK tax authority adopts a DeFi "no profit, no loss" tax treatment approach, which Aave's founder calls a major win for users.
3. The Bhutanese government has staked 320 ETH, worth about $970,000.
Macro & Highlights
1. Luca Paolini, strategist at Pictet Asset Management: As slowing economic growth paves the way for further Fed rate cuts, the dollar will face renewed weakness next year. The dollar's interest rate differential is narrowing significantly.
2. U.S.-listed company DDC Enterprise has added 100 BTC, increasing its total holdings to 1,183 BTC.
3. Andrei Grachev, co-founder of DWF Labs: Today’s DAT craze closely resembles the ICO (Initial Coin Offering) boom at the end of 2017.
Market Trends
1. Over the past 24 hours, the cryptocurrency market saw $167 million in total liquidations across all positions, with $99 million from short liquidations. BTC liquidation totaled $72 million, while ETH liquidation reached $26 million.
2. U.S. stocks: Dow rose 0.67%, S&P 500 rose 0.69%, Nasdaq Composite rose 0.82%.
3. Bitget BTC/USDT liquidation map shows: current price around $90,982. Below, long leveraged positions are densely concentrated between $89,300–$90,500; a break below could trigger consecutive long liquidations. Above, short positions are mainly clustered between $92,000–$93,000; a breakout above this range would trigger large-scale short liquidations, pushing prices higher.
4. In the past 24 hours, BTC spot inflows were $85 million, outflows $111 million, resulting in a net outflow of $26 million.
News Updates
1. Russian households have invested 3.7 billion rubles (~$47.3 million) in crypto derivatives.
2. Co-founder of Alliance DAO: L1 tokens lack moats; betting on the application layer may be the way forward.
3. The UK Financial Conduct Authority opens a sandbox environment for stablecoin firms; the UK government proposes introducing a "no profit, no loss" tax rule for DeFi.
Project Updates
1. Bitwise updates its filing for a spot Avalanche ETF, planning to include staking functionality.
2. VanEck staked another 12,600 ETH yesterday, worth $37.9 million.
3. Wormhole Foundation: Has purchased $5 million worth of W tokens and added them to its institutional balance sheet.
4. Balancer security incident update: The DAO has begun discussing an $8 million recovery plan.
5. Uniswap’s “UNIfication” proposal passes preliminary vote; fee switch contract enters $15.5 million bounty phase.
6. Data: Solana ETF saw net inflows of 238,037 SOL yesterday.
7. Infinex will launch token pre-sale on Sonar, distributing 5% of INX tokens before January TGE to raise $15 million.
8. USDC Treasury mints 750 million new USDC on the Solana blockchain.
9. superfortune will offer 5% of total tokens as mining rewards to MANTA token stakers.
10. On-chain analyst @ai_9684xtpa: An early 2016 ETH whale疑似sold 1,300 ETH via Wintermute again, worth $3.94 million.
Disclaimer: This report is AI-generated; humans only verified the information. No investment advice is provided.
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