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BTC $65,499.42 -1.44%
ETH $1,920.04 -1.66%
BNB $613.96 -0.14%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $434.34 -4.54%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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Wells Fargo: A massive tax refund is expected to boost Bitcoin prices, with $150 billion flowing into the market by the end of March

According to CNBC, Wells Fargo stated that some taxpayers may receive larger refunds this year compared to previous years, which could drive funds into risk assets such as stocks and Bitcoin. This is due to provisions in the Inflation Reduction Act passed last summer that are favorable to taxpayers in 2025.Additionally, the IRS did not update its withholding tax tables last year, so wage earners are less likely to face surprises from adjustments to taxes already withheld.Wells Fargo noted in its latest analyst report that these factors could lead to as much as $150 billion flowing into the market by the end of March, as over 60% of refunds are issued.The bank's analysts added that the expected liquidity injection could boost Bitcoin as well as stocks favored by retail investors, such as Boeing and Robinhood. Wells Fargo analyst Ohsung Kwon stated in a report on Sunday, "We believe the additional savings from tax refunds—especially for high-income consumers—will flow back into the stock market.""Increased savings will drive speculative sentiment... We expect the 'YOLO' mentality to return." The analysts pointed out that Bitcoin could serve as a proxy indicator for liquidity, signaling a shift in investment patterns. According to Wells Fargo data, domestic liquidity has decreased by $105 billion over the past four weeks, while Bitcoin has retraced about 29% in the past month.

Gate officially launches Gate Booster to promote the construction of an incentive ecosystem

The cryptocurrency asset trading platform Gate has officially launched a new promoter task and incentive platform called Gate Booster. This platform is aimed at KOLs in the crypto industry, content creators, community builders, and various promotional partners. Through a standardized task mechanism and a transparent incentive system, it connects high-quality promotional resources with Gate ecosystem projects, driving user growth and long-term community development.It is reported that Gate Booster is positioned as a collaboration and task platform for promoters, supporting various types of tasks such as invitations, recommendations, and content dissemination. Promoters can obtain corresponding incentives through compliant original content output and user guidance, achieving a dual enhancement of influence and revenue. The platform includes posting tasks related to official events, new coin listings, and product features, as well as recommendation tasks that guide new users to register and complete specified actions through exclusive links or invitation codes. Rewards will be based on actual data statistics and settled according to the rules.From a long-term perspective, Gate Booster will provide promoters with priority participation opportunities in platform-level projects and will continuously invest in incentive budgets to ensure transparency in mechanisms and stability in settlements, further assisting individual and institutional promoters in enhancing their influence and commercial value in the Web3 field.
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