Bitcoin remains below $25,800 and appears headed for further decline. It is reported that Ethereum whales purchased approximately 260,000 Ethereum in the past 24 hours, worth nearly $425 million. The large increase in whale holdings in a short period of time is good news and will help boost the market's interest in Ethereum. Singapore’s new president has a more negative attitude towards cryptocurrencies, and Singapore has shown a trend of strengthening supervision. The Monetary Authority of Singapore announced new investor protection measures that will force more supervision of encryption service providers.