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Understanding Bitcoin's Volatility: The Role of Short-term Holders and the Importance of Stabilizing Above Crucial Levels
Quick Take High-leverage crypto trader James Wynn lost another $25 million in a liquidation event on Wednesday, according to LooksOnChain. Wynn took out a second leveraged $100 million Bitcoin position just days after a high-profile liquidation on a billion-dollar bet. The trader still has an open long position of $82 million on Bitcoin at 40x leverage, with a liquidation price of $103,930.
Quick Take The hearing was focused on a bill called the Digital Asset Market Clarity Act, known as CLARITY. Some Democrats at a House Financial Services Committee hearing raised issues with Trump’s involvement in crypto.
Quick Take JPMorgan & Chase intends to let its clients use cryptocurrency assets as loan collateral for certain cryptocurrency exchange-traded funds (ETFs) including BlackRock’s iShares Bitcoin Trust. The bank will include a wealth-management client’s crypto holdings when assessing their total net worth and liquid assets when determining the amount a client can borrow against their assets, Bloomberg reports.
- 12:42Vitalik shares post on "10 Years of Zero Maintenance for Ethereum"According to Jinse Finance, Vitalik Buterin reposted on X: Ethereum has been running continuously for ten years with zero downtime and zero maintenance. Meanwhile, Facebook experienced a 14-hour outage, Cloudflare abandoned 19 data centers, and other Layer 1 networks have faced multiple issues. Ethereum will never stop—whether it's forks, crashes, bubbles, lawsuits, hacks, or any dramatic events the internet might trigger. Even as banks collapse and servers require patching, Ethereum continues to operate.
- 12:12Everbright Securities: Stablecoins Will Drive the Rise of RMB Global Payment ActivityAccording to a report by Jinse Finance, Everbright Securities has released a research paper stating that the global retail cross-border payments market will reach $39.9 trillion in 2024. FXC Intelligence forecasts that this figure will rise to $64.5 trillion by 2032, with a compound annual growth rate of 6.2% from 2024 to 2032. In business areas such as RMB cross-border clearing and multi-currency settlement, third-party payment institutions have become deeply integrated into the full-chain payment service ecosystem, playing a vital role. It is expected that stablecoins will drive the global expansion of RMB cross-border payment infrastructure and diversify application scenarios, thereby creating significant revenue growth opportunities for third-party payment companies. (Daily Economic News)
- 12:12Yonhap News: South Korean Finance Minister may hold tariff talks with the United States on July 31According to Jinse Finance, Yonhap News Agency reports that South Korea's Finance Minister may hold tariff negotiations with the United States on July 31.