AICoin Focus: Daily Hot Picks (September 9th)

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4 months ago

1. The cumulative net inflow of Bitcoin spot ETFs in the United States is $16.897 billion, with BlackRock's IBIT seeing an inflow of $20.917 billion.

2. Lobbying expenditures in the U.S. cryptocurrency industry have surged since 2017, with significant increases in lobbying expenditures by companies such as Coinbase and Binance.US.

According to a study by Social Capital Markets, lobbying expenditures in the U.S. cryptocurrency industry have surged, growing by 1386% over the past seven years, with nearly 60% of the expenditures (approximately $79 million out of $132 million) occurring in the past two years. Coinbase's lobbying expenditures for U.S. government lobbying and specific policy actions in its favor have increased by 3475%, from $80,000 in 2017 to $2.9 million in 2023. Approximately 74% of Coinbase's lobbying expenditures occurred in the last two years (2022 and 2023). Binance.US's cryptocurrency lobbying expenditures increased by 656.3%, from $160,000 in 2021 to $1.2 million in 2023, while Ripple's expenditures increased by 1780% from 2017 to 2023, from $50,000 to $940,000. The increase in lobbying expenditures comes as the U.S. Securities and Exchange Commission (SEC) has taken multiple enforcement actions against several industry companies, including Coinbase and Ripple. The report notes that BlackRock is the most well-known U.S. company lobbying for Bitcoin ETFs. As the world's largest asset management company, BlackRock has used its enormous influence and resources to push for the approval of the spot Bitcoin ETF in January 2024, particularly through its lobbying activities for the iShares Bitcoin Trust (IBIT). -Source

3. Key Cipher: Next Wednesday night, the U.S. CPI data will be released, with BTC's main trading volume exceeding $600 million betting on future trends.

Major large orders can be combined with the open interest difference index to judge the opening and closing of major positions. Opening a PRO membership allows for timely tracking of major buying and selling operations. -Source

4. Musk is expected to become the world's first trillionaire in 2027, with wealth growth mainly coming from Tesla, SpaceX, and the X platform.

According to a new report from a wealth tracking agency, Musk is expected to become the world's first trillionaire in 2027. The report from Informa Connect Academy indicates that Musk's wealth from the electric car manufacturer Tesla, the private rocket company SpaceX, and the social media platform X (formerly Twitter) has continued to grow at an average annual rate of 110%. According to the Bloomberg Billionaires Index, Musk is currently the world's richest person, with $251 billion. The report began circulating on Friday. The analysis also suggests that Indian business tycoon Gautam Adani is poised to become the second trillionaire. If his wealth continues to grow at a rate of 123% per year, he is expected to achieve this milestone in 2028. In addition, technology company Nvidia's CEO Huang Renxun and Indonesian energy and mining tycoon Prajogo Pangestu also have the potential to become trillionaires in 2028, provided that their wealth growth trajectory remains unchanged. Meanwhile, Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton (the world's third richest person with approximately $200 billion), is expected to surpass the trillion-dollar mark in 2030, along with Meta CEO Mark Zuckerberg. -Source

5. Fractal Bitcoin has announced its token economic model, with 50% allocated to PoW mining and 5% of tokens used for presale.

The Bitcoin scaling solution Fractal Bitcoin has announced its token economic model. Its mainnet will be launched in approximately 11 hours, with 80% of the tokens allocated to the community and 20% allocated to the team and contributors (with a lock-up period). The total token supply is 210 million: half (50%) of the total supply is allocated to Proof of Work (PoW) mining; 15% of the tokens are reserved for the ecosystem treasury; 10% of the tokens are allocated for community grants, with the allocation cap for the ecosystem treasury and community grants set at 10% of the total annual allocation, continuing for 10 years; 5% of the tokens are used for presale; 15% of the tokens are allocated to core contributors, and the unlocking schedule for presale and team tokens has been defined from the beginning, with these tokens set to start unlocking at the end of the 7th month and released linearly until the end of the 12th month; an additional 5% of the tokens are currently reserved for present and future advisors, with an allocation cap for advisors of 20% of the total annual allocation, distributed over 5 years. -Source

6. BTC perpetual main force has made a move, with a super large order of $6.72 million already executed.

Real-time monitoring of large market orders, with reports generated and pushed automatically. Opening a PRO membership allows for viewing the complete main force data report. -Source

7. Placeholder partner Chris Burniske says that despite BTC and ETH being in a period of consolidation, he remains optimistic about their prospects.

Chris Burniske, former head of crypto at Ark Invest and current partner at Placeholder VC, stated on social media, "Despite BTC and ETH being in a period of consolidation, the market sentiment makes it feel as if Satoshi Nakamoto has passed away, but the long tail market is showing signs of strength. At the same time, blockchain technology is gradually integrating into various aspects of society, although for those who are impatient, the progress is not fast enough. But I have no doubt that the future is bright. Mainstream coins are still in the same range as the first quarter of 2024, infrastructure is maturing, and application experiments are expanding (both in terms of variety and geography), but the market sentiment is completely opposite to that of the first quarter—wonderful. What's not to like about this? Don't be scared." -Source

8. Next week, the focus will be on the U.S. release of the August CPI data, as well as the debate between Trump and Harris.

The key events to focus on next week are as follows: September 10th, debate between Trump and Harris; September 11th, unlocking of IO worth $3.32 million, accounting for 0.263% of the total supply; September 11th, unlocking of APT worth $65.82 million, accounting for 1.131% of the total supply; September 11th, U.S. release of August CPI data; September 12th, U.S. initial jobless claims for the week ending September 7th; for more forward-looking events, please visit the AICoin "PC End-Flash-Event Calendar" module for details. -Source

9. APT worth approximately $67.97 million will unlock next week, accounting for 1.131% of the total supply.

10. Startale Labs CEO reveals that the Sony L2 network Soneium Spark incubation program has received over 300 applications.

Startale Labs CEO Sota Watanabe posted on social media, "The Sony L2 network Soneium Spark incubation program has received over 300 applications in just two days, which is a great response. This makes me happy, but if this pace continues until the end of the month, there may be 3000 applications. In that case, Startale and Sony responsible for the review might not be able to handle it." -Source

11. Ethereum gas fees surge by 114.45% in 10 minutes, indicating increased on-chain activity for ETH.

Current Ethereum gas fees have risen to 2.91 Gwei, surging by 114.45% in 10 minutes, indicating increased on-chain activity for ETH. Please pay attention to market changes. -Source

12. Barclays adjusts target price, Block Inc. surpasses Coinbase in market value.

This week, Coinbase's stock price has been weak, with a total market value lower than Block, the company behind Square. Barclays Bank adjusted its rating for Coinbase on Friday, lowering the target price from $206 to $169, but upgrading the company's rating from "underweight" to "equal weight." -Source

13. Large orders in BTC perpetual contracts, with a super large order of $9.12 million already executed.

Major large orders can be combined with the open interest difference index to judge the opening and closing of major positions. Opening a PRO membership allows for timely tracking of major buying and selling operations. -Source

14. SUI price fluctuates, with a 13.01% increase in the past 24 hours, currently trading at $0.9805.

The above are selected hotspots from the past 24 hours. For faster news, please download AICoin (aicoin.com)

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