Trump may prioritize crypto, Litecoin may become the first altcoin ETF this year

Reprinted from jinse

01/17/2025·16days ago

headlines

▌Informed sources: Trump plans to issue an executive order to make cryptocurrency a national policy priority

According to people familiar with the matter, U.S. President-elect Trump plans to issue an executive order to elevate cryptocurrency to a national policy priority. The executive order is expected to position cryptocurrency as a "national priority", aim to guide government agencies to cooperate with the industry, and will establish a cryptocurrency advisory committee to speak out for industry policies.

▌Litecoin ETF may become the first altcoin ETF in 2025

Eric Balchunas, a senior ETF analyst at Bloomberg, posted on social media, “The Litecoin ETF now meets all the conditions, and the countdown to the first altcoin ETF in 2025 is about to begin. I don’t see any reason to withdraw the application, especially after The SEC has commented on the S-1 filing, now that Litecoin is considered a commodity and the SEC has new leadership.”

As previously reported, Nasdaq submitted a 19B-4 filing application for the Canary Litecoin ETF to initiate the regulatory review process.

Quotes

As of press time, according to Coingecko data:

The recent transaction price of BTC was US$100,306, with an intraday increase or decrease of +0.0 % ;

ETH’s recent transaction price was US$100,306, with an intraday increase or decrease of -3.5 % ;

BNB’s recent transaction price was US$710.64, with an intraday increase or decrease of -0.2 % ;

SOL’s recent transaction price was US$211.23, with an intraday increase or decrease of +3.3 % ;

The recent transaction price of DOGE was 0.3777 yuan, with an intraday increase or decrease of -0.8% ;

XPR’s recent transaction price was $3.28, with an intraday increase or decrease of +6.8% .

policy

▌The U.S. Supreme Court may rule on the TikTok case on Friday

The U.S. Supreme Court hinted that it may rule on the "sell or ban" TikTok ban on Friday (January 17). On January 16, local time, the U.S. Supreme Court issued an announcement on its website stating that the court "may issue an opinion at 10 a.m. ET on Friday (11 p.m. Beijing time)", but did not specify which cases it would decide. . The TikTok ban was originally scheduled to take effect on Sunday (January 19). (Golden Ten)

Blockchain application

▌ Multicoin submits a “smart issuance” proposal for Solana, proposing to adjust the SOL issuance rate to a market-based solution

Multicoin Capital, one of Solana’s early investors, is now trying to change the inflation mechanism of the Solana network. Two Multicoin Capital partners, Tushar Jain and Vishal Kankani, submitted a “smart issuance” proposal for Solana, proposing to adjust the issuance of SOL from the current fixed schedule to a market-based solution.

Multicoin’s proposal may reduce SOL inflation. In Solana terminology, inflation refers to the network issuing SOL to validators who run Solana software and help build the blockchain. Validators then pass these issued SOL along with some MEV (Miner Extractable Value) rewards to the stakers who delegated the SOL to them.

cryptocurrency

▌ TRM Labs: The volume of illegal transactions on the chain will drop by 24% to US$45 billion in 2024, and TRON will still be the main blockchain for illegal activities

Blockchain intelligence company TRM Labs found that illegal transaction volume on the cryptocurrency chain fell by 24% to $45 billion in 2024, accounting for only 0.4% of the overall crypto transaction volume. Although total transaction volume grew 56% last year to $10.6 trillion, collaborative efforts by law enforcement agencies and industry have effectively curbed illegal activity. TRON’s illegal transactions dropped significantly, with illegal transaction volume reduced by $6 billion and the ratio almost halved, thanks to its T3 financial crime unit established in partnership with Tether and TRM Labs. However, TRON remains the main blockchain for illegal activity, accounting for 58% of total illegal transaction volume, attracting criminals with its low transaction fees and popular stablecoin. The report also showed that sanctions violations accounted for one-third of illicit transaction volume, and scams and fraud accounted for one-quarter, with fraud-related inflows falling by 40% compared with last year. At the same time, there has been an increase in ransomware attacks and terrorism financing, particularly those carried out by North Korean and Russian hackers.

▌Opinion : The United States buying altcoins as strategic reserves is a ridiculous idea that will never happen

Quinn Thompson, founder of hedge fund Lekker Capital, said that the United States buying altcoins as strategic reserves is a ridiculous idea that will never happen. Previously, the New York Post reported that Trump “accepted” the idea of creating tokens including SOL, XRP and Circle’s USDC stablecoin as “America’s priority strategic reserves.”

Quinn Thompson explained: “Governments do not have the authority to place venture capital bets on altcoins. Rumors about the establishment of strategic reserves for other non-BTC currencies are another example of people treating an otherwise bad idea as fact.”

▌Bloomberg analyst: It’s only a matter of “time” before the SEC approves Solana or XRP ETF

Bloomberg analyst James Seyffart posted on the There is no allegation that Litecoin is a security.”

▌ Arkham: The current coverage of MicroStrategy’s Bitcoin holding addresses reaches 96%

Arkham, an on-chain intelligence platform, posted on the Becoming the first institution to publicly disclose these on-chain positions. The addresses marked this time include more than 118,000 BTC received by MicroStrategy from Anchorage Digital and more than 130,000 BTC received from Coinbase Prime.

Arkham has currently tagged MicroStrategy 4.377 million BTC, accounting for 96% of its total BTC holdings (including assets hosted at Fidelity Digital).

▌Bloomberg analyst: Solana ETF may wait until 2026 to be approved for listing in the United States

Bloomberg Intelligence analyst James Seyffart said in an interview that even if the White House takes a friendly attitude towards cryptocurrencies, the Solana ETF may not be launched in the United States until 2026.

He said issuers "may see" the lag in applications for the Solana ETF improve after President-elect Donald Trump takes office on Jan. 20. However, since the SEC once took 240-260 days to review documents, this timeline may be extended to 2026.

In addition, the U.S. Securities and Exchange Commission is filing a lawsuit against the cryptocurrency exchange, alleging that SOL constitutes an unregistered security, which further complicates the review process. “SEC Enforcement’s designation of Solana as a security makes it difficult for other SEC divisions to review it as a commodity ETF,” Seyffart said.

▌ Arkham: A whale deposited more than $1 billion in Bitcoin to Coinbase Prime

According to Arkham monitoring data, about 8 hours ago, an address (bc1qe....j6tzuy) holding more than $2.7 billion in Bitcoin deposited $1.05 billion in Bitcoin to Coinbase Prime. This address received the majority of the Bitcoin between September 9 and 11, 2024, when the price of Bitcoin was between $54,000 and $57,000.

Important economic developments

▌The probability that the Fed will keep interest rates unchanged in January is 97.3%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in January is 97.3%, and the probability of cutting interest rates by 25 basis points is 2.7%. The probability of keeping current interest rates unchanged by March is 70.1%, the probability of a cumulative 25 basis point interest rate cut is 29.2%, and the probability of a cumulative 50 basis point interest rate cut is 0.7%.

▌UBS : The slow and steady sell-off in U.S. bonds may continue

Bhanu Baweja, a strategist at UBS Group, and others said that the sell-off in U.S. bonds since September has clearly been "slow and steady" and this feature "should cause concern to bond bulls." "Volatility remains low and while there are concerns, there is no panic," they wrote in a note. "The slow-moving nature of the sell-off may mean this may continue," they warned.

▌The market expects the Bank of Japan to raise interest rates in January with a 90% probability, which may undermine the rising momentum of cryptocurrency

Investors are eyeing Trump's inauguration on January 20, which could become a key catalyst for Bitcoin and cryptocurrency prices. However, on January 24, the Bank of Japan may raise interest rates. According to a chart shared by analyst Michael Kramer on the X platform, the market currently predicts a 90% probability of raising interest rates on January 24. Previously, the Bank of Japan’s interest rate hike caused chaos in the traditional asset and digital asset markets. This was a key catalyst in the reversal of the yen carry trade in early August, causing Bitcoin to plummet to $49,000. Traders may be preparing for another sell-off this time around.

▌The U.S. dollar index fell 0.12% on the 16th

The U.S. dollar index, which measures the U.S. dollar against six major currencies, fell 0.12% on the day and closed at 108.955 in late foreign exchange trading. As of late trading in New York, 1 euro was worth $1.0302, up from $1.0293 on the previous trading day; 1 pound was worth $1.2235, up from $1.2231 on the previous day. 1 U.S. dollar was exchanged for 155.29 yen, lower than 156.46 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9109 Swiss francs, lower than 0.9127 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4396 Canadian dollars, higher than the previous trading day 1.4329 Canadian dollars; 1 U.S. dollar exchanged for 11.1466 Swedish krona, down from 11.1543 Swedish kronor in the previous trading day.

Golden Encyclopedia

▌What is a teardrop attack in encryption?

In the cryptocurrency environment, teardrop attacks often target the decentralized nature of blockchain platforms. Even if they don’t target the blockchain’s cryptographic algorithms, disrupting the underlying peer-to-peer network infrastructure that cryptocurrencies rely on could lead to service disruptions, loss of funds, and loss of user trust. Attackers can interfere with the consensus process, transaction validation, or node-to-node communications by focusing on specific nodes or servers. This can lead to network fragmentation, processing delays or even complete outages.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.