Wu's Daily Selected Crypto News - Bitcoin's market value surpasses that of silver, reaching 1.75 trillion USD.

1. Bitcoin's market value surpasses that of silver, reaching $1.75 trillion

Data shows that as Bitcoin approaches $90,000, its market value has reached $1.75 trillion, surpassing silver's $1.73 trillion, ranking eighth in asset market capitalization. Bitcoin is referred to as digital gold, and its current market value is about one-tenth that of gold.

2. BlackRock's spot Bitcoin ETF sets a new record with a daily trading volume of $4.50 billion

Bloomberg senior ETF analyst Eric Balchunas stated that with Bitcoin's price breaking $88,000 for the first time, BlackRock's spot Bitcoin ETF has set a new record with a daily trading volume of $4.50 billion. Following Trump's election victory, the stock prices of Bitcoin and cryptocurrency-related companies have risen, and BlackRock's Bitcoin ETF saw a net inflow of over $1.10 billion last week, setting a new high for single-day inflows.

3. Trump seeks candidates supporting cryptocurrency for financial institutions

Initial discussions focused on a range of financial regulatory agencies, including the U.S. Securities and Exchange Commission. According to five insiders, Trump's advisors are considering appointing current regulators, former federal officials, and high-level executives from the financial industry to key leadership positions, many of whom have publicly expressed support for cryptocurrency. The discussions are still in the early stages, and the candidate list is still changing. Insiders noted that candidates being considered for the SEC and other positions include Daniel Gallagher, a former SEC official who currently works at the fintech company Robinhood, as well as two Republican commissioners of the agency, Hester Peirce and Mark Uyeda.

4. QCP: If 1% of gold funds flow into Bitcoin, its price could rise to $97,000

QCP's latest report indicates that since the election, Bitcoin's price has increased by 30%, with a market capitalization of $1.73 trillion, exceeding that of silver but still far below gold's $17.50 trillion. If just 1% of the capital in the gold market flows into Bitcoin, its price could rise to $97,000. Currently, the futures basis for the end of November has exceeded 18%, and demand for out-of-the-money call options (with strike prices of $110,000 and $120,000) is strong. This trend suggests that investors' demand for leverage and margin tools is rising, preparing for a potential further breakout.

5. Ethereum Foundation researcher proposes new consensus layer upgrade "Beam Chain"

Ethereum Foundation researcher Justin Drake proposed a new consensus layer upgrade proposal called "Beam Chain" at the Devcon conference, referred to by the community as "Ethereum 3.0". The proposal aims to achieve faster block times, lower validator staking requirements, "chain-based snarkifaction", and quantum-safe improvements. Doug Colkitt, founder of Ambient Finance, pointed out that localizing zkEVM could completely eliminate gas limits, allowing nodes to only verify the snark, theoretically achieving infinite scalability for L1. However, this proposal may lead to further centralization in block construction. Beam Chain is expected to establish specifications in 2025, begin construction in 2026, and enter full testing in 2027.