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The Gate Flash Exchange Advanced Season has begun, and the top individual trader can receive a reward of 1,000 USDT

According to official news, Gate will launch the "Flash Exchange Advanced Season" event from September 7 at 18:00 to September 14 at 18:00 (UTC+8). During the event, users who complete at least 100 USDT of valid flash exchange transactions daily and check in for 3 days or more will be able to share a prize pool of 20,000 USDT based on the number of accumulated check-in days; if the cumulative valid flash exchange transaction volume reaches 3,000 USDT, they can also participate in the transaction volume ranking to share another prize pool of 20,000 USDT. Among them, the user ranked first with a transaction volume of 150,000 USDT can receive a maximum reward of 1,000 USDT.In addition, the Gate flash exchange exclusive gift for newcomers is ongoing. From September 3 at 16:00 to September 10 at 16:00 (UTC+8), eligible newcomers who complete their first flash exchange and reach a transaction volume of 100 USDT will receive a 20 USDT dual-currency financial experience gift, limited to the first 1,000 participants; if the cumulative valid flash exchange transaction volume reaches 300 USDT, they can receive an additional 3 USDT cash reward, limited to the first 300 participants, and the two benefits can be stacked. Currently, Gate flash exchange supports one-click conversion of over 2,400 types of crypto assets without any transaction fees.

first_img Bitcoin's correlation with gold has risen to a six-year high, Bitwise states that depreciation hedging trades are making a comeback

Bitwise's latest report shows that the correlation between Bitcoin and gold has risen to a six-year high. Bitwise's Head of Research for Europe, André Dragosch, stated that the last time the correlation reached this level was in 2020, during the period of multiple fiscal and monetary stimulus following the COVID-19 pandemic; meanwhile, the correlation between Bitcoin and the stock market has dropped to a one-year low, suggesting a decoupling between hard assets and the stock market.The report believes that the simultaneous rise of Bitcoin and gold is due to the "substantial intervention in the macro picture" by the U.S. government. Last month, the U.S. Treasury announced it would more than double the scale of government debt buybacks, leading to a weakening of the dollar, and investors flocked back to gold and Bitcoin; in the same week, U.S. public debt surpassed $40 trillion for the first time, further undermining market confidence in the dollar. Bitwise stated that investors are no longer entangled in whether to hedge against currency depreciation with gold or Bitcoin, but are holding both simultaneously, and pointed out that "Bitcoin has been priced as a risk asset for its first fifteen years, and if this correlation trend continues, the next fifteen years could be very different."Driven by this, Bitcoin rose again this week, increasing nearly 6% within 24 hours, with the price briefly approaching $81,438.

first_img Thailand's SEC proposes allowing retail investors to trade regulated overseas crypto derivatives

The Securities and Exchange Commission of Thailand (SEC) has proposed allowing intermediaries to provide certain digital asset derivatives traded overseas to retail investors. According to the proposal, eligible products must be similar to crypto derivatives traded domestically in Thailand, including aspects such as underlying assets, duration, leverage, and settlement methods. At the same time, these products must be traded on exchanges that adopt central counterparty clearing and are supervised by regulatory bodies belonging to specific international regulatory or exchange organizations.Crypto derivatives that do not meet the above conditions will only be available to institutional investors. The Thai SEC stated that institutional investors are better equipped to assess and manage complex and high-risk products. Current rules only allow intermediaries to provide relevant investment services to retail and high-net-worth clients when overseas derivatives are similar to domestic trading products, while overseas crypto derivatives, due to their varying structures and risk levels, require targeted regulations.This consultation is the latest initiative by Thailand to incorporate crypto-related products into the regulated capital market. The Thai SEC officially designated cryptocurrencies and digital tokens as permissible derivative underlying assets in a notice issued on March 5 and is discussing potential contract specifications with the Thailand Futures Exchange. The consultation will continue until September 30, and the Thai SEC has not yet announced the proposed implementation date for the revisions.

The risk of "exit difficulty" in the South Korean cryptocurrency market emerges: nearly 30% of assets among the five major exchanges can only be traded on one

According to South Korean media Daum, an analysis of the five major Korean won exchanges Upbit, Bithumb, Coinone, Korbit, and GOPAX, as well as the public API of CoinGecko, found that after excluding duplicate assets, the five exchanges collectively support approximately 606 types of crypto assets. Among them, 164 types (27.1%) are only available for trading on one exchange, and another 324 types (53.5%) are traded on two or fewer exchanges.Among the assets supported by a single exchange, Coinone has the most, with 55 types; Bithumb has 54 types, GOPAX has 25 types, Upbit has 16 types, and Korbit has 14 types. In terms of liquidity, the median trading volume of these 164 assets in nearly 24 hours is only about 1.37 million won, with 79 types having a trading volume of less than 1 million won, and 38 types even having zero transactions.The analysis suggests that listing on a single exchange does not inherently mean that the asset carries risk. If the relevant assets are actively traded on overseas exchanges or support smooth withdrawals, investors still have other exit channels. However, for assets with low overseas trading volume and restricted deposit and withdrawal networks, once support is terminated, investors may face difficulties in both selling and transferring.
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