Willy Woo: Bitcoin Liquidity Showing Signs of Recovery, Price to be Validated in Two Weeks if Trend Continues

On November 6th, based on on-chain data, after Stable launched the second phase of its pre-deposit activity, it has currently accumulated more than $230 million. Earlier reports showed that Stable stated that the second phase of the pre-deposit activity was able to accept up to $500 million in eligible deposits. Participants are required to deposit using USDC and complete Know Your Customer (KYC). Each verified user is limited to one wallet.

On November 6th, a Deutsche Bank analyst pointed out that Bitcoin had recently stabilized after initially falling below $100,000 for the first time since June. This was because the U.S. stock market had rebounded overnight and risk appetite had improved. They stated that the main driving factors were better-than-expected economic data and the increasing speculation in the market that the U.S. government shutdown might be coming to an end. This had boosted investors' optimistic outlook on the short-term outlook, and risk assets had performed well overall, including Bitcoin. The ADP National Employment Report and ISM Non-Manufacturing PMI, which were released on Wednesday, also exceeded expectations. (FXStreet)

On November 6th, the founder of Ark Invest, Cathie Wood, has adjusted her highest price prediction for Bitcoin by 2030 from $1.5 million to $1.2 million. This adjustment is due to the rapid growth of stablecoins. Cathie Wood stated that stablecoins are assuming the role that she originally believed Bitcoin would play, particularly in emerging markets and payment contexts. Nevertheless, Cathie Wood remains positive about Bitcoin's long-term prospects and believes that it will continue to play a central role in institutional adoption and the transformation of the global monetary system.

On November 6th, the hardware and software company Arx Research announced the completion of a $6.1 million seed round of financing. This round was led by Castle Island Ventures and involved institutions such as Inflection, Placeholder, Seed Club Ventures, and 1kx. Cameron Robertson, the co-founder and CEO of Arx Research, stated that this funding round utilized a SAFE (Simple Agreement for Future Equity) structure but did not disclose the timing of the financing or the post-money valuation. This round of financing will be used to launch the "Burner Terminal," a handheld sales terminal device that integrates digital assets with traditional payments. The terminal is capable of simultaneously accepting stablecoins, contactless payments (such as NFC), and chip + PIN cards. It has received EMV certification to ensure that it meets international standards in terms of security, compliance, and compatibility with existing payment systems.

November 6th. As per TechCrunch, the cryptocurrency trading app Fomo has successfully completed a Series A funding round of $17 million, with Benchmark taking the lead. This brings the total funding to $19 million. The participating investors comprise Marc Boiron, the CEO of Polygon Labs, Raj Gokal, the co-founder of Solana, and Balaji Srinivasan, the former CTO of Coinbase and an angel investor. The Fomo app was launched in May this year, enabling users to conduct quick account opening transactions through the integration of Apple Pay. The platform supports cross-chain transactions for millions of crypto assets, charges a transaction fee of 0.5%, waives Gas fees, and incorporates built-in social features that allow users to track others' trading strategies.

On November 6th, Stablecoin Public Chain Stable announced that the second phase of the deposit event has commenced. Previously, it was reported that Stable stated that the second phase of the deposit event would be able to accept up to 500 million US dollars in eligible deposits. Participants are required to use USDC for deposits and complete Know Your Customer (KYC). Each verified user is limited to one wallet. All USDC deposits will be converted into brand new USDT on the Stable network, which will enhance on-chain liquidity, bridge institutional funds with the on-chain market, and strengthen the overall ecosystem's stablecoin liquidity.