Welcome to the hottest cryptocurrency market news for September 23rd! A volatile day with shocks in the crypto market, but also witnessing strong movements from large investment funds. Let’s review the most important information so you don’t miss any opportunities or risks.
Overall Market Trends: A Contrast Between Traditional and Crypto
- While gold and US stocks continued to soar, setting new highs, the cryptocurrency market was deep in the red. Bitcoin (BTC) and other altcoins are still struggling to recover after a sharp crash with over 1 billion USD in liquidations just yesterday afternoon.
- Today’s focus is on FED Chairman Powell, who will deliver an important speech at 11:35 PM tonight (Vietnam time). This speech promises to bring new signals, potentially significantly impacting global investor sentiment.
Spot ETF Data (September 22nd Session): Where Is the Capital Flowing?
The Spot ETF trading session on September 22nd continued to show selling pressure from several large funds:
- Bitcoin (BTC): Recorded a significant net outflow of 363.2 million USD. Notably, Fidelity sold off 276.7 million USD, while BlackRock maintained a stable position.
- Ethereum (ETH): Also followed the downward trend, with 76 million USD in net outflows. BlackRock, along with three other funds, contributed to this selling pressure with 15.2 million USD.
- Solana (SOL): No specific information is currently available regarding SOL’s Spot ETF flows.
Prominent Crypto News Highlights
- Policy and Regulation: Nine US congressmen jointly urged the SEC to accelerate the implementation of former President Trump’s executive order, which aims to allow the integration of cryptocurrencies into 401(k) retirement plans. This is a positive move, opening a new door for large investment flows into the market.
- UXLINK Incident: The UXLINK token price evaporated by approximately 70% of its value after the project suffered losses of over 11 million USD due to a cyberattack.
- Tether and Uruguay: Tether has denied rumors of withdrawing from Uruguay due to debt. They affirmed that they are still in discussions with the government to resolve an energy dispute.
- LayerZero Repurchases ZRO: The LayerZero Foundation made a notable move by repurchasing 50 million ZRO tokens, equivalent to approximately 5% of the total supply, from early investors.
- Synthetix to Launch Perp DEX: Synthetix is preparing to launch a perpetual derivatives exchange (Perp DEX) on Ethereum and will host a trading competition with a total prize pool of 1 million USD to test the system before official operation.
- Coinbase New Listings: The Coinbase exchange has announced its listing roadmap for two projects, Centrifuge (CFG) and TROLL (TROLL), promising new trading opportunities for users.
Institutional Capital Flows: “Whales” Are Still Diligently Accumulating
Despite the volatility, large institutions continue to show strong confidence in the crypto market through massive accumulation efforts:
- Strategy: Acquired an additional 850 BTC, equivalent to approximately 100 million USD, bringing its total Bitcoin holdings to a massive 639,835 BTC (about 72.2 billion USD).
- Strive: Acquired Semler Scientific through an all-stock deal, thereby increasing its Bitcoin treasury to over 10,900 BTC (approximately 1.25 billion USD).
- BitMine: Over the past week, BitMine accumulated an additional 264,378 ETH, valued at approximately 1.19 billion USD, bringing its total Ethereum holdings to 2.4 million ETH, accounting for 2% of the token’s total supply.
- Helius Medical: Following a 500 million USD capital raise led by Pantera, Helius Medical purchased over 760,000 SOL (approximately 160 million USD) to add to its treasury.
Exciting Airdrop Opportunities Not To Be Missed
Don’t forget to take advantage of these airdrop opportunities to receive free tokens:
- XPL Launchpad on MEXC: Exclusively for new users.
- Youmio Airdrop Update: Testnet updates are available.
- Bitlight Airdrop: A promising project that successfully raised 9.6 million USD from Amber.
- Check 0G Labs Airdrop: Opportunities still available for those who participated.
Conclusion
Tuesday, September 23rd, concluded with a mix of emotions in the crypto market. Although Bitcoin and altcoins underwent a strong correction phase, capital from large institutions continued to flow in, indicating no decrease in long-term confidence. Keep a close eye on upcoming developments, especially FED Chairman Powell’s speech, to make the smartest investment decisions!
