Up Only Outlook
Arthur Hayes, co-founder of the BitMEX exchange, forecast that the crypto market will enter an “up only” phase once the U.S. Treasury’s General Account (TGA) balance reaches $850 billion. Hayes argues that Treasury deposits sequester liquidity, reducing private market flows; when the balance stabilizes, he expects pent-up capital to reenter crypto markets.
Ethereum Staking Exit Queue
In the weekly Hodler’s Digest, Ethereum co-founder Vitalik Buterin addressed concerns over a 45-day exit queue for staked Ether. Buterin noted that while the delay can be frustrating, it reflects protocol security trade-offs and does not indicate systemic instability. Observers caution that prolonged exit periods may deter new institutional staking entrants.
DeFi Poll Results
A survey by the DeFi Education Fund, conducted with Ipsos, found that 42% of U.S. adults would be “extremely, very or somewhat likely” to use DeFi protocols if comprehensive legislation were enacted. Respondents cited distrust in traditional financial institutions and interest in self-custody as primary motivators.
Grayscale Prepares to Stake
Onchain data from Arkham Intelligence indicated that Grayscale transferred over 40,000 ETH to addresses associated with staking services. Industry analysts interpret this as positioning ahead of potential SEC approvals for ETH staking within exchange-traded products.
Regulatory Pressure on Tron
Two U.S. lawmakers sent a letter to SEC Chair Paul Atkins and acting corporation finance director Cicely LaMothe, questioning the timing of enforcement actions against Tron founder Justin Sun. The inquiry could influence how future crypto firms pursue public market listings.
Gensler Reflects on SEC Tenure
Former SEC Chair Gary Gensler, in a CNBC interview, defended his regulatory approach, emphasizing investor protection amid digital asset fraud. Gensler expressed pride in enforcement actions against entities like FTX while acknowledging industry calls for clearer guidelines.
Market Snapshot
The week closed with Bitcoin near $116 000, Ether around $4 420 and XRP at $2.98. Top gainers included Aster (+1 286%) and Immutable (+23%), while select altcoins saw declines amid broader market consolidation.
Looking Ahead
Investors will monitor U.S. Treasury inflows, staking exit queue developments and regulatory signals as key catalysts for crypto price action in the coming weeks.
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