Daily Digital Currency Dynamics Summary (2024-09-26)

Key Developments in ‌the Digital Currency Space

• Paypal Expands Cryptocurrency‍ Services: ​US merchants can now buy, hold, and ⁤sell cryptocurrencies directly from ⁤their Paypal ‍business accounts.
• Hong ​Kong Securities ‍and Futures Commission Reports ​Revenue Growth:‍ Virtual asset trading activities in the ‌securities industry⁤ generated a total​ revenue of 77 million⁢ yuan in⁣ the‌ first half of the year.
• Bitcoin ⁤Mining Difficulty Decreases: The⁣ difficulty of‍ Bitcoin mining dropped by 4.6% to ⁢88.4⁤ T.
• US Support ​for Blockchain and Digital‍ Assets: Harris emphasized the need for ⁢the United States to become a leader ⁣in ​the blockchain field and reiterated its support for digital assets.
• South⁤ Korea Establishes Digital Asset Protection Fund: The fund aims to assist in⁣ recovering user funds from bankrupt crypto ⁣exchanges.
• New Coin Issuance Projects Face Challenges: Only 12% of new coin​ issuance ​projects this year achieved an ‍increase in ​coin​ price.
• Stablecoins Dominate Blockchain Transactions: Chainalysis CEO reported that ⁣two-thirds⁢ of transactions on⁤ the‌ blockchain come from ⁣stablecoins.
• Bitcoin‍ Price ‍Predictions:⁣ Some options traders are betting⁤ that⁤ Bitcoin will hit $100,000 by⁢ the‍ end of the year, possibly due​ to ​Harris’s pro-crypto speech.
• US SEC Files Lawsuit Against Merrill Lynch: The lawsuit⁣ accuses​ Merrill Lynch​ of taking advantage of market fluctuations⁤ in customer transactions to profit from them.
• US Bitcoin ETF Holdings‍ Reach New High: Bloomberg analyst reported that the‍ current ‌holdings of⁤ the US Bitcoin ETF have reached 83%⁣ of Satoshi Nakamoto.
• Dogecoin Founder Focuses ⁤on Dogecoin Development: The founder of Dogecoin stated that they are not​ involved in the development ‌of other cryptocurrencies except Dogecoin.
• Deribit Warns of Potential ⁣Market Volatility: The ​expiration of $5.8 billion in Bitcoin ⁣quarterly options may cause market volatility.