News

PANews reported on December 23 that, according to Wintermute's latest market update, as of December 23, the crypto market remains volatile. BTC briefly fell below $85,000 last Monday before gradually rebounding to $90,000, while ETH dropped below $3,000. The total liquidation in the market last week exceeded $2 billion, with leveraged funds being quickly squeezed out. Bitcoin's dominance continues to rise, with mainstream coins BTC and ETH receiving more buying support, while altcoins have underperformed due to supply pressure and unlocking schedules. Data shows that institutional funds have continued to flow in since the summer, and retail funds are gradually shifting from altcoins to mainstream coins. Despite sharp short-term fluctuations, overall market liquidity is stabilizing. With the year-end holidays approaching, market activity is expected to decrease and prices may continue to fluctuate within a range. In the medium to long term, the continued entry of traditional financial institutions may provide stronger support for the market.

BlockBeats News, December 23, On-chain smart contract transaction platform TurboFlow announced the official launch of a Points Incentive Program as a key indicator of user community participation, directly linked to future platform coin airdrop allocation. TurboFlow stated that the launch of the Points Program is designed to reward genuine participation and active contribution from community members. Through points, users will not only be able to receive future platform coin airdrops, but will also enjoy multiple benefits including exclusive services and community governance rights. In terms of the points calculation mechanism, TurboFlow adopts a dynamic weighting model covering two main dimensions: transactions and growth. In this model, inviting new users and driving community growth carry higher weights to encourage more community participation in platform development. The platform also emphasizes that the specific weightings and parameters of the points calculation will remain undisclosed to prevent malicious behavior and ensure fairness. As part of the community reward plan, TurboFlow will provide retroactive points rewards to historical users who have previously engaged in transactions on the platform as well as current active users. Starting today, all eligible users must visit the TurboFlow official Points page to proactively claim their initial points as a reward for their early contributions to ecosystem development. Users can unlock point distribution by achieving a valid trading volume greater than $10,000. Points in locked accounts will expire after 1 month. TurboFlow is built on an independent Layer1 architecture, boasting excellent liquidity depth, outstanding user trading experience, and an innovative "0 Fee" profit-sharing model. Founder Tony He is a co-founder of Nasdaq-listed company Amber Group and has extensive experience in financial derivatives and the blockchain industry. Tony stated that TurboFlow's goal is "to make transparency the underlying logic of the system, providing retail investors with a professional, seamless, and fair trading experience."

BlockBeats News, December 23, according to Bloomberg, Russian banks are drafting new cryptocurrency regulatory plans, which may allow previously ineligible investors to purchase crypto assets. Previously, on November 26, Russian Deputy Finance Minister Ivan Chebeskov revealed that the Ministry of Finance and the Central Bank are planning to lift the current strict regulations that only allow "highly qualified" investors to participate in the cryptocurrency market, and intend to establish a tiered access mechanism to expand the range of legal investors. The current regulations require individual investors to have at least 100 millions rubles in bank deposits and securities, and to have verifiable income of more than 50 millions rubles in the past year to obtain "highly qualified" certification.