Bitget Daily Briefing (November 28) | $167 million in liquidations across the crypto market in 24 hours; UK adopts "no gain, no loss" tax treatment for DeFi; Solana ETF saw a net inflow of 238,037 SOL yesterday

Today's Outlook

1. Onchain Lens Monitoring: Arthur Hayes has increased his holdings by 2 million ENA, worth approximately $556,000; 364,987 ETHFI, worth approximately $287,000.
2. The UK tax authority adopts "no gain, no loss" tax treatment for DeFi, with Aave's founder calling it a significant victory for users.
3. The Bhutanese government has staked 320 ETH, worth about $970,000.

Macro & Hot Topics

1. Pictet Asset Management strategist Luca Paolini: As economic growth slows, paving the way for further rate cuts by the Federal Reserve, the dollar will face a new round of weakness next year. The interest rate differential for the dollar is significantly narrowing.
2. US-listed company DDC Enterprise has increased its holdings by 100 BTC, bringing its total to 1,183 BTC.
3. DWF Labs co-founder Andrei Grachev: The current DAT craze is very similar to the ICO (Initial Coin Offering) boom at the end of 2017.

Market Trends

1. In the past 24 hours, the cryptocurrency market has seen a total liquidation of $167 million, with $99 million from short positions. The total liquidation amount for BTC is $72 million, and for ETH, it is $26 million.
2. US stocks: The Dow Jones rose by 0.67%, the S&P 500 rose by 0.69%, and the Nasdaq Composite rose by 0.82%.
   
3. Bitget BTC/USDT liquidation map shows: Current price around $90,982, with a concentrated area of high leverage long positions between $89,300 and $90,500. A drop below this range could trigger a series of long liquidations. The main concentration of short positions is between $92,000 and $93,000. If this range is broken, it will trigger large-scale short liquidations, pushing the price further up.
   
4. In the past 24 hours, BTC spot inflow was $85 million, outflow was $111 million, resulting in a net outflow of $26 million.
   

News Updates

1. Russian households have invested 3.7 billion rubles in the crypto derivatives market, approximately $47.3 million.
2. Alliance DAO co-founder: L1 tokens lack a moat, betting on the application layer may be a way out.
3. The UK's Financial Conduct Authority has opened a sandbox environment for stablecoin companies; the UK government has proposed introducing "no gain, no loss, no tax burden" tax rules for DeFi.

Project Progress

1. Bitwise has updated its application documents for the spot Avalanche ETF, intending to add staking functionality.
2. VanEck has staked 12,600 ETH again yesterday, worth $37.9 million.
3. The Wormhole Foundation: has purchased $5 million worth of W tokens and included them in its institutional balance sheet.
4. Balancer security incident progress: The DAO has begun discussions on an $8 million recovery plan.
5. Uniswap's "UNIfication" proposal has been preliminarily approved, with the fee switch contract entering a $15.5 million bounty period.
6. Data: Solana ETF saw a net inflow of 238,037 SOL yesterday.
7. Infinex will launch a token presale on Sonar, distributing 5% of INX tokens to raise $15 million before the January TGE.
8. USDC Treasury has minted an additional 750 million USDC on the Solana chain.
9. superfortune will provide a total of 5% of tokens as mining rewards for MANTA token stakers.
10. On-chain analyst @ai_9684xtpa: An ancient ETH whale from 2016 is suspected of selling 1,300 ETH again through Wintermute, worth $3.94 million.
    **Disclaimer: This report is generated by AI, with human verification for information only, and does not constitute any investment advice.