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VIPBitget VIP Weekly Research InsightsIt's been nearly two months since the trend of celebrities and politicians launching memecoins began. During this period, liquidity in the Solana ecosystem almost dried up. Pump.fun, which once saw over 2000 successful launches landing on DEXs daily, hit a low of just slightly over 50 new projects per day, marking a drop of nearly 97%. During the two months, Pump.fun also rolled out its own DEX, Pump Swap, while major centralized exchanges (CEXs) accelerated their transition and put toward products combining spot and on-chain transactions. These offerings help bridge the liquidity gap between CEXs and on-chain trading, in order to capture opportunities in early-stage tokens' hype and drive a faster recovery in Solana's on-chain liquidity.
VIPBitget VIP Weekly Research InsightsThe unique value of Proof-of-Work (PoW) tokens lies in their mining mechanism and regulatory positioning. Research shows that mining costs are a defining feature of PoW tokens, involving significant investment in hardware and electricity. When market prices approach miners' breakeven points, miners tend to hold onto their coins in anticipation of future appreciation. This behavior reduces circulating supply, shifts the supply-demand balance, and may contribute to price increases. Regulatory clarity is also critical to the investment appeal of PoW tokens. Both BTC and LTC are classified as commodities by the U.S. SEC rather than securities, which simplifies the ETF approval process. In January 2024, the approval of the BTC spot ETF triggered significant institutional inflows. LTC is currently undergoing the ETF application process. While DOGE and KAS have not yet received formal classification, their PoW nature may position them for similar treatment. Together, these factors enhance market liquidity and attract more institutional investors.
- 03:03$184 Million Liquidated Across the Network in the Past 24 HoursAccording to Coinglass data, the total liquidation across the network in the past 24 hours amounted to $184 million, with long positions liquidated at $87.3677 million and short positions at $96.6286 million. Among them, Bitcoin long positions were liquidated at $20.1032 million, Bitcoin short positions at $41.4106 million, Ethereum long positions at $16.8351 million, and Ethereum short positions at $10.9584 million.
- 03:02Former Trump Aide David Bailey in Talks to Establish a Bitcoin Investment FirmAccording to CoinDesk, former Trump aide David Bailey is in talks to establish a Bitcoin investment company.
- 03:02Spokesperson of the Chinese Embassy in the United States Answers Questions from Reporters on China-U.S. High-Level Economic and Trade TalksAccording to a report by Jinse Finance, a spokesperson for the Chinese Embassy in the United States responded to questions from reporters regarding the high-level China-U.S. economic and trade talks, stating that both the Chinese Ministry of Foreign Affairs and the Ministry of Commerce have made statements on the matter. I would like to emphasize the following three points: First, the U.S. side has recently conveyed information to China through various channels, expressing a desire to discuss issues such as tariffs. China decided to engage with the U.S. after carefully evaluating the information. The talks were held at the request of the U.S. Second, China's firm opposition to the U.S.'s arbitrary imposition of tariffs is consistent, and it will resolutely safeguard its legitimate rights and interests, international fairness and justice, and uphold WTO rules and the multilateral trading system. Third, this tariff war was initiated by the U.S. If the U.S. truly wants to resolve issues through dialogue and negotiation, it should stop threats and pressure, and engage in dialogue with China on the basis of equality, respect, and reciprocity. China will never accept the U.S. saying one thing and doing another, nor will it sacrifice its principled stance or international fairness and justice to seek any agreement. (Chinese Embassy in the United States)