Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$171,146 moving -1.72% at the time of writing. Meanwhile, Ethereum ends at AU$6,598 moving +1.72% week-on-week. On the Altcoin side, Solana +6.52%, Dogecoin +11.54%, and XRP +6.88% change.\ \
🗞 What’s happening in the news?
📊 Nasdaq Seeks SEC Approval to Tokenise Stocks
Nasdaq has asked the SEC for approval to launch tokenised stock trading, allowing customers to choose between traditional equities or on-chain tokenised shares. Buyers would gain full rights, including voting and liquidation rights. Nasdaq said its proposal aims to “provide meaningful benefits to markets by integrating new capabilities into the fabric of our financial system and further advancing the world’s most efficient and trusted markets.” The exchange emphasised that tokenised trades would clear and settle through the Depository Trust Co. and be logged via digital ledger to record securities ownership and transactions.
🏙️ Kazakhstan to Create National Crypto Reserve and ‘CryptoCity’
Kazakhstan’s president Kassym-Jomart Tokayev has called for legislation to build a “full-fledged ecosystem of digital assets” by 2026. He proposed creating a State Fund of Digital Assets under the National Bank’s Investment Corporation, which would accumulate a strategic reserve of promising digital assets. Tokayev also confirmed that Alatau, a city of 52,000 in southeastern Kazakhstan, will be developed into “the first fully digitalised city in the region,” where crypto can be used for everyday payments.
🎰 Solo Bitcoin Miner Earns US$348K Block Reward Against 1-in-100-Year Odds
A solo Bitcoin miner using CKpool, a service that allows individuals to mine independently instead of sharing rewards in a group, solved block 913,593 and was awarded 3.129 BTC. The reward, valued at US$347,980 (AU$527,242), was achieved with just 200 terahash of computing power. CKpool developer Con Kolivas noted this gave the miner only about a one in 36,000 chance per day, or roughly once every 100 years. Their computing power was tiny compared to the overall Bitcoin network, making the outcome highly unlikely.
📖 What we’ve been reading
Grayscale Files for What Could Be First-Ever U.S. Chainlink ETF
The asset manager's proposed GLNK ETF would convert its existing LINK trust and could include staking if approved.
US regulators release joint statement teasing 24/7 capital markets
A 24/7 trading cycle would create new opportunities and risks for traditional financial markets that do not operate on nights and weekends.
Strategy Buys $217 Million More In Bitcoin After S&P 500 Snub
QCP Capital points to Bitcoin's ability to maintain levels over $110,000 levels as proof of market resilience amid Strategy’s S&P 500 setback.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
