Bitget Daily Digest（September 22）｜KBW 2025 opens today in Seoul; BTC may break above $120,000 in October; Regional competition accelerates between China and South Korea on stablecoins.

Bitget2025/09/22 03:54

By:Bitget

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Today's Preview

1.Korea Blockchain Week 2025 (KBW 2025) officially opens today in Seoul, gathering the global Web3 community to explore industry trends and cooperation opportunities.

2.MBG by Multibank Group will unlock approximately 15.84 million tokens tonight at 20:00.

3.Delysium will officially announce its community governance plan, focusing on new mechanisms for decentralized autonomy.

Macro & Hot Topics

1.Ethereum co-founder Vitalik Buterin published an article stating that low-risk DeFi (such as payments and synthetic assets) could become the core applications of the Ethereum network in the future.

2.The UK’s FCA has significantly increased its cryptocurrency registration approval rate, with the latest rate reaching 45% and the average registration period shortened to 5 months.

3.China and South Korea have respectively launched stablecoins pegged to the RMB (AxCNH) and Korean Won (KRW1), accelerating regional stablecoin competition.

Market Updates

1.BTC and ETH are experiencing short-term fluctuations, with market sentiment remaining neutral. Estimated liquidations in the past one hour reached $452million, mainly long positions.

2.All three major US stock indices closed higher last Friday, with the Dow, S&P 500, and Nasdaq all hitting historic highs. The market was boosted by Fed rate cut expectations and tech stock gains.

Bitget Daily Digest（September 22）｜KBW 2025 opens today in Seoul; BTC may break above $120,000 in October; Regional competition accelerates between China and South Korea on stablecoins. image 0

3.According to Bitget’s liquidation map, BTC/USDT is hovering around $114,000. There is a large short liquidation zone above $115,000, and a breakout could signal a short-term bullish opportunity.

4.In the past 24 hours, BTC spot inflows totaled $23.5 billion, outflows $3.91 billion, resulting in net inflows of of 19.59 billion.

5.In the last 24 hours, contract trading net outflows were led by BTC, ETH, and XPR,BNB implying possible trading opportunities in these tokens.

News Updates

1.The number of Suspicious Transaction Reports (STR) filed by South Korean Virtual Asset Service Providers in the first eight months of this year has already surpassed the total of the previous two years combined.

2.Industry analysts predict that BTC could break through $120,000 by October, with continued bullish ETF net inflows from institutions.

3.ETH is holding above the $4,465 support level today, facing resistance at $4,510; there may be short-term correction potential.

4.The start of Fed rate cuts is improving liquidity, driving a new rotation between major and altcoins.

Project Developments

Optimism (OP): Completed the unlock of 116 million tokens on September 21.
Mantle Network: Completed upgrade to ZK Rollup, now fully utilizing OP Succinct technology.
GRVT: Announced the completion of a $19 million Series A funding round, co-led by ZKsync.
Wormhole: Released the W 2.0 tokenomics, including the establishment of a strategic reserve.
Sky Protocol: Initiated a governance vote on the “delayed upgrade penalty” setting, effective from September 22.
PayPal: Its PYUSD stablecoin has expanded to a multi-chain ecosystem via LayerZero technology.
Nakamoto Games: Launched the NAKA Boom tournament, with a total prize pool of $1,000.
Kaia: Hosting the “Kaia Stable Gathering” event, focusing on cooperation prospects with LINE NEXT.
Delysium: About to announce its community governance plan, advancing to a new stage of decentralization.

Disclaimer: This report was generated by AI and human-verified for accuracy. It is not intended as investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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