The cryptocurrency landscape is witnessing notable developments. In the Chinese stock market, the digital currency sector is on the rise, highlighted by Dongxin Peace reaching its daily trading limit and Zhongke Jincai experiencing a 5% increase. Meanwhile, CryptoQuant’s CEO Ki Young Ju has declared the Bitcoin cycle theory obsolete, noting a shift in market dynamics where whales are now selling to long-term holders rather than retail investors. This change reflects a broader trend of institutional investment outpacing trading activities. Additionally, Elon Musk’s xAI is set to enhance the Kalshi prediction market by integrating its Grok model, enabling users to leverage on-chain data and news for better predictions. In another development, Ripple co-founder Chris Larsen has transferred 50 million XRP, raising concerns amid ongoing scrutiny from the SEC regarding previous token sales. Lastly, Bitcoin has dipped below 118,000 USDT, indicating a 0.79% decrease in the last 24 hours, reflecting the current volatility in the market.
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