Overview of Key Overnight Developments on January 5

1. The total market value of stablecoins increased by 0.45% over the past week;

2. BlackRock's IBIT experienced net outflows for the first time for two consecutive weeks;

3. The US spot Ethereum ETF saw a net outflow of $38.1 million this week;

4. Chilean lawmakers are considering legislation on strategic Bitcoin reserves;

5. USDC Treasury minted an additional 50 million USDC on the Ethereum chain;

6. A swing trader who shorted 21,613 ETH currently has an expanded unrealized loss of $3.76 million;

7. JPMorgan: "Devaluation trades" will persist as the structural importance of Bitcoin and gold increases.