Whale Alert: 10,301,346 USDT Held by a Certain Address Frozen

On October 17th, the US-listed media company Newsmax announced that it will establish a digital asset reserve with Bitcoin and the Trump meme token (TRUMP) as its core. The company's board of directors has given the green light to a plan to allocate up to a maximum of $5 million within the next year to these two asset classes.

On October 17th, based on market data, the price of the gold-pegged token PAX Gold (PAXG) on mainstream cryptocurrency exchange platforms witnessed a significant upward spike this morning. The price on some platforms briefly exceeded $4800 and is currently trading at $4436. Community analysis holds the view that this upward spike might have been triggered by the liquidation of short contract traders on Binance. On this platform, the inverse perpetual contract trading pair experienced a maximum upward spike of 15.8%, reaching $5106. Binance has not provided a response to this incident yet. According to Coinglass data, in the past 4 hours, a total of $6.82 million in PAXG liquidations occurred across the network, with $1.279 million from long liquidations and $5.5453 million from short liquidations.

On October 17th, the Bitcoin Layer2 network Merlin Chain officially tweeted that its BTCFi ecosystem has been continuously generating stable and sustainable revenue across multiple chains. The revenue sources include staking, liquidity, and yield protocols. According to the official plan, more than 50% of the revenue will be used for the ongoing buybacks of the MERL token. The related buyback mechanism is already in place and will be carried out in the long term. The official emphasized that Merlin Chain's construction of the BTCFi is not only about ecosystem expansion but also about giving back tangible value from ecosystem growth to the community.

On October 17th, the recent weak performance of Bitcoin appears to have dampened market enthusiasm, and Google search interest has dropped to a multi-month low. The latest market sentiment index reflects the typical characteristics of a bear market phase, with cautious sentiment prevailing in the entire crypto market. The Crypto Fear and Greed Index has dropped to 24, which is in the "Fear" level and the lowest point in the past year, a sharp decline from 71 last week. This decline is similar to the sentiment when Bitcoin briefly dropped below $74,000 in April this year, echoing the market fatigue cycles of 2018 and 2022. Although sentiment has dropped sharply, Bitwise analysts believe that the current situation is more suitable for "buying the dip" rather than withdrawing. The company's research director André Dragosch, senior researcher Max Shannon, and research analyst Ayush Tripathi stated that the recent correction is mainly driven by external factors, including a renewed escalat

On October 17th, based on Coinglass data, during the past 24 hours, there have been liquidations amounting to $710 million throughout the entire network. A total of 217,395 people have been liquidated globally. The long liquidations reached $508 million and the short liquidations were $202 million. The largest single liquidation took place on Hyperliquid - BTC-USD, totaling $20.4274 million.

On October 17th, according to The Information, XAI is set to make a $20 billion chip leasing deal with NVIDIA (NVDA.O). (Golden Ten)