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  • 18:11
    CryptoQuant: If demand continues to grow, bitcoin price could reach $160,000–$200,000 in Q4
    Jinse Finance reported that CryptoQuant stated that since July, spot demand for bitcoin has continued to rise, with apparent demand increasing by more than 62,000 bitcoins per month. The company also pointed out that this sustained demand also appeared before the Q4 bull runs in 2020, 2021, and 2024. CryptoQuant noted that both bitcoin whale and ETF demand are showing strong momentum. The annual growth rate of whale holdings is 331,000 BTC, compared to 255,000 in Q4 2024, 238,000 at the beginning of Q4 2020, and a decrease of 197,000 in 2021. On the other hand, US-listed bitcoin ETFs purchased 213,000 BTC in Q4 2024, a quarter-on-quarter increase of 71%. CryptoQuant's Head of Research, Julio Moreno, stated that similar growth could occur this quarter. From a price perspective, CryptoQuant said that bitcoin needs to break through the "traders' on-chain realized price" of $116,000 to return to its cyclical "bull market" phase. This threshold has now been surpassed, with bitcoin trading at around $117,300, and the company expects the price this quarter to be in the range of $160,000 to $200,000.
  • 17:53
    Aleo partners with Paxos Labs to launch stablecoin USAD
    Jinse Finance reported that the Aleo Network Foundation has partnered with Paxos Labs to launch the privacy-focused USAD stablecoin. Aleo is a Layer1 permissionless blockchain that utilizes zero-knowledge proofs to enable private and compliant payments. Paxos Labs, a subsidiary of Paxos, is the issuer of PayPal’s PYUSD and the Global Dollar stablecoin. Aleo is supported by a16z, Softbank, and a certain exchange, and is also participating in the Global Dollar Network collaboration.
  • 17:42
    Abu Dhabi agricultural regulator bans cryptocurrency mining on farmland
    Jinse Finance reported that the agricultural regulatory authority of Abu Dhabi, United Arab Emirates (UAE)—the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA)—has announced a ban on cryptocurrency mining on farmland. According to Tuesday's announcement, violators will face a fine of 100,000 dirhams (approximately $27,229). ADAFSA will also suspend municipal services, confiscate mining equipment, and disconnect the farmland from the power grid. ADAFSA stated that conducting crypto mining activities on farmland conflicts with the region's "sustainable development" policies and also violates existing land use regulations. "Such activities exceed the permitted economic uses stipulated by the Authority, and such activities are not allowed on farmland."
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