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first_img The UK plans to give the central bank a new goal for stablecoin innovation

The UK plans to give the Bank of England a new statutory objective to support innovation in stablecoins and other forms of digital currency, while maintaining financial stability as a primary responsibility. This objective will be incorporated through amendments to the Financial Services and Markets Bill, requiring the central bank to report annually to Parliament on its progress in payment systems and digital currency innovation. Lucy Rigby, the UK's Economic Secretary to the Treasury, stated that this objective will support the central bank in continuing to promote payment and digital financial innovation, ensuring that the UK maintains its leading position in global financial services.The UK is committed to establishing a unified regulatory framework covering both traditional and tokenized payments. The Bank of England abandoned its previously proposed temporary cap on the holdings of stablecoins by individuals and businesses in June this year, instead setting a £40 billion (approximately $54 billion) issuance cap for each systemic stablecoin; issuers can allocate up to 70% of their reserve assets to UK short-term government bonds, with the remainder held at the central bank. The UK's Financial Conduct Authority (FCA) has also finalized rules for crypto firms and stablecoin issuers, including simplified capital requirements, allowing businesses to apply for authorization starting September 30, with the new rules taking effect on October 25, 2027.According to DeFiLlama data, the current stablecoin market size is approximately $303 billion, up from about $200 billion at the beginning of last year, with most being dollar-pegged stablecoins. Visa data shows that the trading volume of retail-level stablecoins below $250 has increased from $500 million in 2019 to nearly $70 billion last year, reflecting the growth in consumer usage.

The giant whale "sets 10 major goals first": after making a profit of 100 million dollars in the last round, it faced a pullback, and this round's long positions exited early due to fear

"Whale" Sets 10 Major GoalsJason Leo posted a review of recent trading experiences this morning, stating that he is rethinking discipline and risk control in trading.Jason mentioned that during the last cycle, he achieved a profit of about 100 million dollars, but due to a long-term adherence to trend judgment, he failed to stop losses in time after the market reversed, resulting in a significant profit drawdown. This experience led him to summarize two core principles: "discipline" and "risk." He stated that at the beginning of this market cycle, he maintained a trend trading mindset, believing that the target price of Bitcoin would reach 74,000 dollars and that the fluctuations during this period were just part of the upward process. However, as the price gradually approached the target, the risk awareness from past losses began to affect his judgment, leading him to choose to exit early.Jason stated that although Bitcoin eventually reached 74,000 dollars, he was unable to hold on. He believes that the mistake in the last cycle was overconfidence in the trend, while this cycle was marked by the fear of repeating past mistakes, causing him to abandon the trend too early. He concluded that the biggest challenge in trading is not to conquer the market, but to break free from the inherent perceptions formed by past experiences. "If experience cannot change with the environment, it is essentially prejudice; if discipline loses judgment, it is essentially mechanical."

The giant whale "sets 10 major goals": BTC is expected to fluctuate upwards this round, possibly rising to $100,000 by March next year

The whale "Set 10 Big Goals First" posted on the X platform, stating that it has opened a short position again at $76,000. The logic is quite simple: "When I established a long position around $63,000, the target was originally $74,000. I believe the bull market has returned, and this judgment has not changed until now. However, I have always believed that this round should be a volatile upward trend. At least currently, from a macro and market structure perspective, I have not seen enough signals to support this trend."Currently, most of the short positions have been reduced. "Not because I have changed my judgment, but to control risk first. If there is a continued extreme upward pull here, $82,000 and $84,000 are both possible, so there is no need to take a full position to bet that my judgment is definitely correct.If the daily line effectively closes above $80,500, then I will admit my mistake on this trade, close everything, and take a break for a while. If it ultimately cannot hold here and weakens again, I will consider adding back the reduced short positions."The whale "Set 10 Big Goals First" reiterates its medium-term view as follows: "In the medium to long term, I still hold a bullish view on BTC, but being bullish in the medium to long term does not conflict with shorting locally. I am taking this short position to profit from the pullback during the upward process, not to view it as a bear market again. If I am wrong, I will admit my mistake above $80,500. I still believe that we will see $100,000 BTC by March next year."
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