News & Research

Cryptocurrency asset manager Bitwise predicts that Bitcoin could reach $1.3 million by 2035, forecasting an annualized return of 28.3%. The firm's analysis includes a bull case scenario where Bitcoin could reach $2.97 million by 2035, and a bear case scenario with a target of $88,005.

The U.S. Securities and Exchange Commission (SEC) has extended its deadline to review a proposal from Grayscale to include staking in its spot ETH exchange-traded fund (ETF), Crypto Briefing reported.

A record number of Bitcoin holders are currently in profit, with more than 55 million wallets now in the black, BitcoinNews reported. The average holding period for these wallets is 4.4 years.

JPMorgan has assessed that Bitcoin is trading at a significant discount to gold, driven by a sharp decline in its volatility, CoinDesk reported. The bank noted that Bitcoin's six-month rolling volatility has fallen from around 60% at the start of the year to a record low of approximately 30%, making the asset more appealing to institutional investors. JPMorgan stated that when adjusting for volatility, Bitcoin's market capitalization should be 13% higher, implying a price of around $126,000. The bank calculates that Bitcoin is currently undervalued by approximately $16,000 relative to gold, indicating potential for appreciation. JPMorgan also explained that passive capital inflows are being generated as publicly traded companies holding Bitcoin are added to stock indices.

According to Glassnode, Bitcoin's Cumulative Volume Delta (CVD) on major exchanges has returned to a neutral level. The firm stated this suggests that the conviction of spot investors is weakening around the $111,000 mark.

Chainalysis, Tether, Binance, and OKX have frozen 49.6 million USDT linked to a pig-butchering scam in cooperation with law enforcement agencies in the Asia-Pacific region, The Block reported. The assets were frozen in June 2024. Pig butchering is a type of financial fraud where scammers build trust with victims over an extended period before stealing a large sum of money at once.

The U.S. Department of Commerce and Chainlink (LINK) have announced the launch of an on-chain data feed that brings macroeconomic indicators from the U.S. Bureau of Economic Analysis (BEA) directly to the blockchain. The feed includes six key economic indicators, such as real GDP, the Personal Consumption Expenditures (PCE) Price Index, and final sales to private domestic purchasers. It will initially be available on 10 blockchains, including Arbitrum, Ethereum, Avalanche, Optimism, and Base, with data updated on a quarterly and monthly basis. According to Chainlink, making this data available on-chain will enable new financial innovations, including automated trading strategies, the issuance of tokenized assets, real-time prediction markets, and DeFi risk management.

The U.S. Department of Commerce began distributing Gross Domestic Product (GDP) data on public blockchains for the first time on August 28, Bloomberg reported. The move is part of the Trump administration's pro-cryptocurrency policies. During this pilot phase, GDP data will be recorded on nine blockchains, including Bitcoin, Ethereum, and Solana. The initiative was reportedly led by U.S. Secretary of Commerce Howard Lutnick, with exchanges Coinbase, Kraken, and Gemini participating to cover gas fees. President Trump also reportedly welcomed the idea of placing national statistics on the blockchain.

The three major U.S. stock indices opened higher. The S&P 500 is up 0.04%, the Nasdaq Composite has gained 0.07%, and the Dow Jones Industrial Average has risen 0.03%.

aPriori, an on-chain trading infrastructure startup founded by former employees of crypto market maker Jump Trading, has raised $20 million, CoinDesk reported. The funding round included participation from Pantera Capital, HashKey Capital, Primitive Ventures, IMC Trading, GEM, Gate Labs, Ambush Capital, and Big Brain Collective. aPriori is developing a solution that applies algorithmic high-frequency trading (HFT) techniques to decentralized finance. The company also operates a liquid staking platform and an AI-based decentralized exchange, Swapr. The new capital will be used for product expansion, hiring, and strengthening partnerships.