Lookonchain APP

App Store

China's Urumqi in Xinjiang Region Cracks Down on Illegal Crypto Mining Rig Maintenance Site, Seizes 310 Devices on the Spot

2 hours ago

March 30 — The Urumqi Public Security Bureau’s High-tech Zone (Xinshi District) Sub-bureau reported on March 26 that during a patrol in Ergong Township, officers uncovered a site suspected of illegally repairing cryptocurrency mining rigs. The team identified an unusual warehouse on Yuhang Road in Xinshi District, where large quantities of disassembled and pending-repair mining equipment were stacked — in violation of China’s ban on the production, sale, repair, lease, or hosting of mining rigs. During enforcement actions, police also found serious safety hazards at the site: illegal electrical connections, fire protection facilities that failed required annual inspections, and no fire management system. These posed significant risks of fire and electric shock. A total of 310 mining rigs awaiting repair were lawfully seized on the spot. Relevant evidence has been collected, and the parties involved have been ordered to immediately cease their illegal activities. The case has been transferred to relevant departments for further processing.
Relevant content

「Stock Market Guru」 Trump Malfunction: Verbal Boost Ignored by Market, US Stocks Fall for Five Consecutive Weeks Amid Wall Street Backlash

[NEW YORK, March 30] — Middle East tensions continue to escalate, policy uncertainty is mounting, and U.S. equities are under pressure. The S&P 500 notched a fifth straight weekly drop, its longest weekly losing streak since 2022. While U.S. President Trump has repeatedly signaled de-escalation to calm market sentiment, investor reaction has grown noticeably muted. Market analysis notes that as the conflict drags on unresolved and policies fluctuate, the “Trump Put” effect is fading. Investors are no longer trading solely on policy statements—they’re even taking contrarian positions when no tangible progress emerges. Meanwhile, oil prices stay elevated—WTI crude topped $100—exacerbating global stagflation fears. Coupled with Middle East uncertainty, market risk aversion is rising. The VIX (volatility index) has climbed above 31, well above its historical average. Institutions broadly agree that without tangible de-escalation in the Middle East—especially stabilization of the S

3 minutes ago

QCP: Bitcoin Maintains Range-Bound Trading, Yet to Form Clear Breakout Momentum

March 30: The latest QCP market update notes Bitcoin briefly dropped to $65,000 during Asian trading hours before rebounding quickly. It’s now trading steady between $66,000 and $67,000, continuing the typical weekend softness followed by early-week stabilization. Despite facing selling pressure post-options expiration and uncertainty around the Middle East, BTC is still holding in the $65,000–$70,000 range overall. However, the monthly chart could mark a sixth consecutive monthly decline, reflecting lingering market fragility. The report also highlights Bitcoin’s relative performance remains resilient, outperforming gold and U.S. stocks since the Iran conflict escalation—signaling a partial return to its safe-haven characteristics. With the 10-day “buffer period” Trump set for potential military action against Iran expiring April 6, markets remain wary of an escalation. BTC’s short-term trend will stay largely news-driven. On the macro front, elevated oil prices and risks to

3 minutes ago

This Week in Crypto Markets: FTX to Distribute $2.2 Billion in Reimbursements, US Non-Farm Payrolls Data Key Variable

March 30th — The cryptocurrency market could face high volatility in the final week of March, as the FTX Recovery Trust is scheduled to distribute roughly $2.2 billion to creditors on March 31st — a move that may directly impact market liquidity. On the macro front, the U.S. will release March non-farm payrolls data this Friday, alongside key metrics including the unemployment rate, initial jobless claims, and ISM readings. Amid ongoing Middle East tensions and rising inflation expectations, uncertainty lingers over the market’s view of the Federal Reserve’s policy path. Additionally, BNP Paribas will launch six new crypto ETN products this week. Several DAO governance votes, token unlocks, and new project launches are also on tap — including unlocks for protocols like SUI, Ethena, and Hyperliquid. Analysts note this week could be a critical window to watch for the crypto market’s short-term trend, driven by geopolitics, macro data, and on-chain fund flows.

3 minutes ago

Binance Alpha has listed Based (BASED)

March 30 — Binance Alpha has integrated Based (BASED) at 4:00 PM ET today, per an official announcement.

3 minutes ago

A certain whale reopened a ten million dollar ETH short position after a stop-loss, with the average entry price moving up to $2060.

On March 30th, Hyperinsight monitoring data shows a whale with an address starting with 0xe60 fully closed its prior ETH short position—opened at an average price of $2,035—incurring a loss of roughly $61,000. Immediately after being stopped out, the whale opened a new ETH short position at an average price of $2,060. This new position has a larger size than the previous trade, totaling $10.3 million, with a liquidation price set at $2,166.

3 minutes ago

A Whale Deposits 1,102 BTC to a CEX, Potential Loss Up to $55.6 Million

On March 30, blockchain analytics firm Lookonchain reported that a whale address has deposited 1,102 BTC to Binance, with the tokens valued at approximately $74.21 million. The BTC was acquired by this address 8 months ago at a price of $117,770 per BTC, and the address currently faces an unrealized loss of roughly $55.60 million—equivalent to a 43% decline.

3 minutes ago