PA Daily | Arthur Hayes bets BTC will rise to $110,000 before falling; CZ goes long on mubarak on APX Finance

Today's news tips:

DWF Labs launches $250 million liquidity fund, focusing on promoting stablecoin TVL expansion, lending market development, etc.

White House official: US could potentially use its gold reserves to buy more Bitcoin

Arthur Hayes Bet Bitcoin Will Rise to $110,000 First

WLFI purchased another $3 million of MNT, and the portfolio has lost more than $100 million

AGON rose 51.36% in a short period of time, possibly due to the addition of BUBB and AGON to Binance Alpha

CZ opens a contract on APX Finance to go long on mubarak

Kaito founder: Airdrop uses AI to screen long-term supporters, and South Korea’s holding rate is 50% higher

Metaplanet purchased another 150 bitcoins, bringing its total holdings to 3,350 bitcoins

Regulatory/Macro

White House official: US could potentially use its gold reserves to buy more Bitcoin

Bo Hines, executive director of President Trump's Digital Asset Advisory Council, said in an interview that the United States could use the proceeds from its gold reserves to buy more Bitcoin. According to Hines, this move could be a budget-neutral way to increase the country's Bitcoin reserves. Hines cited the Bitcoin Act of 2025 proposed by Senator Cynthia Lummis, which advocates that the United States obtain 1 million Bitcoins within five years, which is about 5% of the total Bitcoin supply. The purchase of Bitcoin will be funded by selling gold certificates from the Federal Reserve.

Metaplanet purchased another 150 bitcoins, bringing its total holdings to 3,350 bitcoins

According to Metaplanet's announcement, as part of its Bitcoin treasury strategy, the company purchased another 150 Bitcoins at an average price of 12,570,173 yen per Bitcoin, totaling approximately 1.886 billion yen. As of now, the company holds a total of 3,350 Bitcoins, with a total purchase amount of approximately 42.216 billion yen.

Viewpoint

Matrixport: Bitcoin benefits from the Fed's shift to easing and easing arbitrage selling pressure

According to Matrixport analysis, Bitcoin is currently trying to break out of the downward trend, benefiting from the Fed's slightly dovish attitude and Trump's hint of a more targeted tariff strategy. These changes provide a more constructive environment for the market. In addition, as the end of the quarter approaches, the selling pressure of arbitrage funds may be easing. Funding rates remain low, and most of the selling is nearing its end. Although the current catalysts are not enough to support Bitcoin to set a new record high, the market outlook has improved significantly.

Arthur Hayes Bet Bitcoin Will Rise to $110,000 First

According to Arthur Hayes' post on the X platform, he is optimistic that Bitcoin will rise to $110,000 first, rather than pull back to $76,500. The reason is that the Federal Reserve is shifting from quantitative tightening (QT) to quantitative easing (QE) on US debt, while inflation is considered "temporary" and the impact of tariffs is limited. He said he will elaborate on his views in the next article, and currently provides a summary of the "TikTok Brain Capacity Edition".

Kaito founder: Airdrop uses AI to screen long-term supporters, and South Korea’s holding rate is 50% higher

Yu Hu, founder of Kaito AI, posted on the X platform that this round of Kaito airdrops took an unprecedented approach. Instead of requiring users to perform specific tasks for Kaito, it used AI as a neutral evaluator on a large scale for the first time to identify users who have long recognized the value of Kaito. Data shows that accounts with high weighted scores have a 20% higher ratio of holdings to pledges. The three key indicators are long-term awareness of Kaito, value recognition, and ecological participation (including Kaito Pro and Yaps). At the regional level, the holding rate of Korean users is 50% higher than the average. Yu Hu said that although this method is not perfect, it effectively protects the network and motivates long-term supporters.

Solana Co-founder: There is no need to build L2, L1 can be faster and more secure

Solana co-founder Anatoly Yakovenko responded to the debate on the X platform, saying that "there is no need to build L2" because L1 itself can achieve faster, cheaper and more secure performance. He pointed out that L1 does not need to be limited by a slow data availability stack, nor does it need to rely on complex fraud proofs or multi-signature mechanisms to avoid security compromises.

Project News

WLFI purchased another $3 million of MNT, and the portfolio has lost more than $100 million

According to the monitoring of on-chain analyst Yu Jin, WLFI, a DeFi project supported by the Trump family, purchased 3.539 million MNT for $3 million 15 minutes ago, with an average transaction price of about $0.84. So far, WLFI has invested about $343 million in 11 tokens including ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE, ONDO, SEI, AVAX, and MNT, with an overall book loss of about $109 million, a loss rate of one-third. Some tokens and WLFI have "carried" each other.

Lnfi Network announces postponement of TGE, saying more preparations are needed to cope with market conditions

According to the official announcement of Lnfi Network, the project has decided to postpone the originally scheduled Token Generation Event (TGE) and has not announced a new schedule. The official said that the postponement was based on the current market environment and the desire to provide the community and stakeholders with a more powerful and far-reaching online experience. The progress will be updated in the future.

AGON rose 51.36% in a short period of time, possibly due to the addition of BUBB and AGON to Binance Alpha

According to Binance Alpha market data, AGON rose to a high of $0.015253, a short-term increase of 51.36%, and is currently quoted at $0.0127. Earlier news, Binance Alpha added BUBB and AGON.

SHELL repurchase progress reached 81.2%, and the token price has risen by more than 4% since the repurchase

According to Ai Yi, an on-chain analyst, the SHELL repurchase address withdrew 1 million tokens from Binance two minutes ago, bringing the total repurchased to 21.95 million tokens, and the completion rate has increased to 81.2%. Since the repurchase started on March 14, the price of SHELL tokens has risen by 4.56%, from $0.2565 to $0.2682.

CZ opens a contract on APX Finance to go long on mubarak

According to CZ’s post on the X platform, at 01:17 Beijing time on March 24, he conducted his first on-chain perpetual contract test on APX Finance, going long on the token mubarak, which is currently priced at about $0.149, with a stop-profit of $0.165. CZ said that this move was to experience the on-chain transaction process and test whether MEV (miner extractable value) still exists. He also revealed that he had never traded futures on the Binance platform and had only seen product demonstrations. He also said that the overall on-chain experience was not as good as CEX and that he did not intend to become a trader.

Important data

Bitcoin spot ETFs saw a net inflow of $744 million last week, with BlackRock IBIT leading the way

According to SoSoValue data, Bitcoin spot ETFs recorded a total net inflow of $744 million last week. BlackRock IBIT ranked first with a weekly net inflow of $538 million, with a cumulative net inflow of $39.77 billion; Fidelity FBTC ranked second with $136 million. In terms of outflow, Grayscale GBTC had the largest net outflow of $24.47 million, with a historical cumulative net outflow of $22.53 billion. The current total net asset value of Bitcoin spot ETFs is $94.35 billion, accounting for 5.65% of the BTC market value, and the cumulative net inflow has reached $36.05 billion.

The difficulty of Bitcoin mining increased by 1.43% to 113.76 T last night, close to the historical high

Cloverpool data shows that the difficulty of Bitcoin mining has been adjusted at block height 889,056 (Beijing time 03-23 19:15:42), with the difficulty increased by 1.43% to 113.76 T, close to the historical high (114.17).

USDC Treasury mints 250 million new USDC on Solana chain

According to Whale Alert monitoring, at 04:00 Beijing time on March 24, USDC issuer USDC Treasury minted 250 million USDC (approximately US$249,973,750) on the Solana chain.

CoinGecko Crypto Perpetual Contract Report: DEX total trading volume reached 1.5 trillion US dollars, Hyperliquid market share in Q4 exceeded 55%

According to the recent report "State of Crypto Perpetuals: 2024" released by Coingecko, by 2024, the total annual trading volume of the top ten centralized perpetual contract exchanges will reach 58.5 trillion US dollars, doubling from 2023. The total volume of decentralized perpetual exchanges reached 1.5 trillion US dollars, and Hyperliquid occupied more than 55% of the market share in Q4. Bitcoin accounted for about 45% of the open contracts on centralized platforms throughout the year. Since November 2024, the total open interest has exceeded 100 billion US dollars for the first time, mainly boosted by market sentiment after Trump's victory. The trading volume of Solana-related contracts has soared several times this year, which is closely related to the meme coin craze and the launch time of celebrity tokens.

Financing

DWF Labs launches $250 million liquidity fund, focusing on promoting stablecoin TVL expansion, lending market development, etc.

DWF Labs announced the launch of Liquid Fund, a $250 million liquidity fund, aimed at accelerating the expansion and adoption of medium and large crypto projects. Recently, DWF Labs has invested more than $11 million in blockchain projects and plans to sign two major investment agreements totaling $35 million through the fund, with a single project investment scale of between $10 million and $50 million. The fund will provide strategic capital and ecological support, focusing on promoting the expansion of stablecoin TVL, the development of the lending market, brand promotion, and community participation, to help projects achieve sustainable growth.