Makro Trendler

Hedge funds are rapidly entering the crypto market, with 47% of traditional funds now holding digital assets, up from 29% in 2022. Following the SEC’s approval of the Bitcoin spot ETF, trading volumes have surged past $350 billion, boosting market activity. Leading firms like Pantera Capital are using strategies such as arbitrage and quantitative trading, driving market transformation and signalling a new growth phase for the industry.

This article provides an in-depth analysis of the development of Hong Kong's cryptocurrency policies in 2024, reviewing the evolution of regulation since 2014. It explores the roles and responsibilities of regulatory bodies such as the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), as well as key policy measures like the licensing regime for Virtual Asset Service Providers (VASP). The article serves as a comprehensive policy guide by examining Hong Kong's regulatory framework, legal requirements, and market positioning in the cryptocurrency space. Additionally, it discusses Hong Kong's strategic role as an international financial center in the global cryptocurrency market and the opportunities and challenges under the regulatory environment. Whether you're a market participant, investor, or policy researcher, this article helps you understand Hong Kong's cryptocurrency policies' current state and future direction.

Gate Research Daily Report: On January 7, Bitcoin and Ethereum prices increased by 2.86% and 0.38%, respectively. Pump.fun now accounts for 70% of the token issuance on the Solana network. The total value locked (TVL) in SUI has surpassed $2 billion, reaching a new all-time high. Zksync Era's TVL surged to $172 million. Dutch regulators have issued EU MiCA licenses to four companies. Bedrock launched the uniBTC Berachain Vault, supporting a cross-chain reward mechanism.

This analysis explores the latest developments in EU cryptocurrency policies, focusing on the MiCA regulation and its major regulatory initiatives for 2024. The study examines how the EU's framework impacts digital finance through technological innovation support, market regulation improvements, investor protection mechanisms, and cross-border financial cooperation. Through comparisons with US and Russian policies, it investigates how the EU's regulatory approach influences the global cryptocurrency landscape, providing comprehensive insights into this evolving sector.

Gate Research Daily Report: On January 6, BTC price increased by 0.73% in the past 24 hours, reaching $98,824.8. The S&P 500 index rose by 1.26%, the Dow Jones index increased by 0.80%, and the Nasdaq index climbed by 1.67%. USD0's market cap surpassed $1.81 billion, securing a spot in the top five of the stablecoin market. Raydium's trading volume surpassed Uniswap, showcasing the strong momentum of the Solana ecosystem. Swellchain's TVL exceeded $334 million, with significant user growth. Solana launched the quantum-resistant Vault, enhancing security protection. Pump Science is about to release a new experimental compound token, driving decentralized anti-aging research.

As the global digital economy rapidly advances, Africa stands at a crossroads where digital transformation is key to driving economic change and sustainable development. Financial inclusion, which aims to use digital technology to broadly address the issue of access to financial services, presents one of the biggest opportunities within Africa’s digital sector.

This year was marked by two major uplifts: the launch of spot-based Bitcoin ETPs in the United States, and the election of Donald Trump for a second, non-consecutive presidential term. Between those events, the market ranged in volatile, indecisive sideways chop for 237 days. While these events served as both catalyst and backdrop for the market in 2024, 2025 will see an expansion of market breadth and narratives. Without further ado, below are some of Galaxy Research’s predictions for 2025.

Gate Research Daily Report: On January 3, BTC is currently trending within an upward channel, with a 24-hour price increase of 2.51%. ETH has broken through the significant resistance level of $3,430, with a 24-hour price increase of 2.66%. Ethereum and Solana jointly host 58% of the relevant projects in the DeSci field. The number of daily active addresses on the Base network has reached 3 million, marking a new historical high. Uniswap Labs announced that the v4 version is about to be launched, which will introduce significant architectural changes. The re-staking protocol Solayer has announced the establishment of a foundation and the release of its governance token, LAYER. Blockchain game publisher Xterio revealed its tokenomics model, with a total supply of 1 billion for the core token XTER.

This report reviews the key events surrounding enforcing the EU MiCA regulation and releasing U.S. economic data. MiCA provides a unified regulatory framework for the crypto asset market, enhancing market confidence and compliance. The U.S. PMI shows a rebound in manufacturing activity, while the decline in initial unemployment claims reflects improvements in the labor market. These dynamics have an impact on the global economy and investment decisions.

This article provides an in-depth analysis of major public companies holding Bitcoin globally. As of December 2024, approximately 50 public companies worldwide hold Bitcoin, spanning sectors including technology, finance, and more. The article highlights four major Bitcoin-holding companies: MicroStrategy with 439,000 bitcoins, Marathon Digital Holdings with 44,394 bitcoins, and Riot Platforms with 17,429 bitcoins. These companies demonstrate their confidence in and strategic positioning towards digital currency through their various approaches to participating in the Bitcoin market.

This article compiles insights and predictions from major institutions such as a16z and Coinbase on the stablecoin market, alongside an analysis of the article How Stablecoins Will Eat Payments, and What Happens Next. It addresses key questions such as how stablecoins can enhance and transform traditional payment systems, create more practical applications, improve corporate balance sheets and profitability, and drive the mass adoption of stablecoins. Finally, it examines the future trajectory of the stablecoin market from a broader Web2 cross-border payment perspective, offering valuable insights for professionals in stablecoins, Web3 payments, and cross-border payment sectors.

Gate Research Weekly Report: This week, BTC found strong support around $92,500, with the market in a wait-and-see phase. ETH traded in a narrow range between $3,300 and $3,400, with overall trading volume declining. The AI Agent sector showed impressive performance over the New Year, with AI16Z gaining approximately 136.5% in the past 7 days. Elon Musk briefly changed his X platform account name to "Kekius Maximus" before reverting it within 48 hours. Shiba Inu plans to launch the TREAT token in early 2025. Base chain reached a new daily transaction volume record, exceeding 13.3 million on January 1st. Unichain mainnet plans to go live with permissionless fault proofs on January 6th, 2025.

This article examines potential policy changes for stablecoins and cryptocurrencies in the coming year, focusing on key regulatory developments, industry trends, and their potential impact on the stablecoin ecosystem. It analyzes shifting attitudes among policymakers worldwide, highlighting challenges and opportunities posed by regulatory uncertainty. The piece also explores strategies for businesses to adapt to the evolving regulatory landscape, offering valuable insights into the future of stablecoins and the cryptocurrency industry.

This article analyzes the concept of Bitcoin Strategic Reserves (SBR) and explores its potential impact on the U.S. economy and monetary policy. It provides a detailed discussion on the political feasibility of an SBR policy, its effects on the status of the U.S. dollar, and public acceptance, offering a multi-faceted analysis of the SBR policy.

While Japan has quickly embraced Web3 technologies and rolled out supportive policies, the deeply ingrained conservative culture and complex bureaucratic systems have made the pace of innovation unusually slow.