Headlines
▌Trump demands BRICS countries 'commit' to use the dollar
US President-elect Trump: demands BRICS countries commit to neither creating a new BRICS currency nor supporting any other currency to replace the strong dollar, otherwise they will face 100% tariffs.
▌XRP's market value surpasses Intel
According to the latest data from Infinite Market Cap, as XRP's market value surpasses 100 billion USD to reach a new high, it has surpassed traditional tech giant Intel and well-known automaker BYD in the global asset market value ranking, rising to 189th place. Data shows that XRP's current market value is approximately 104.69 billion USD, while Intel's market value is approximately 103.72 billion USD.
Market trends
As of the time of writing, according to Coingecko data:
BTC's recent transaction price is 96,483.14 USD, with a daily fluctuation of -0.2%;
ETH's recent transaction price is 3,692.74 USD, with a daily fluctuation of +2.8%;
BNB's recent transaction price is 652.44 USD, with a daily fluctuation of +0.3%;
SOL's recent transaction price is 238.30 USD, with a daily fluctuation of -1.0%;
DOGE's recent transaction price is 0.4318 yuan, with a daily fluctuation of +2.6%;
XPR's recent transaction price is 1.89 USD, with a daily fluctuation of +3.6%.
Policy
▌The government is 'addicted to indirect regulation'
Ripple's Chief Technology Officer David Schwartz recently joined the list of tech founders opposing Operation Chokepoint 2.0 - a government-operated de-banking initiative targeting the crypto industry. Schwartz stated that the government is 'addicted to indirect regulation' and listed four reasons why de-banking undermines the rule of law. Schwartz believes that de-banked entities will switch service providers or move funds underground, thereby completely evading surveillance and sanctions. The CTO also stated that abolishing banking would undermine due process, freedom of speech, and the right to oppose illegal searches and seizures.
▌Spain's securities regulator approves the first tokenization license
Spain's securities regulator CNMV has approved the country's first tokenization license, opening the door for the tokenization of real-world assets (RWA). Ursus-3 Capital, in collaboration with Onyze, is the first consortium able to provide services to Spanish companies seeking to enter this field. 'We firmly believe that RWA tokenization opens up limitless possibilities for entrepreneurs, and ensuring legal safety for investors is very important,' said Juan Jurado, General Manager of Ursus-3 Capital. Third parties are already able to sign contracts for their tokenization services.
Blockchain applications
▌DeFi liquidity restart protocol Tren Finance completes seed round financing, with participation from Maven Capital and others
DeFi liquidity restart protocol Tren Finance has announced the completion of seed round financing, with investments from Contango Digital Assets, Maven Capital, Moonrock Capital, OIG Capital, Spyre Capital, and others. Specific financing amounts and valuation information have not yet been disclosed. Tren Finance is currently mainly providing liquidity proofs and linking to support re-mortgaging LP, currency market deposits, and other DeFi services.
▌General Office of the CPC Central Committee and General Office of the State Council: Accelerate the development of foreign trade in areas like blockchain and artificial intelligence
According to Xinhua News Agency, the Opinions of the General Office of the CPC Central Committee and the General Office of the State Council on the Reform and Innovation Development of Digital Trade point out that there should be vigorous development of digital technology trade, strengthening innovation in key core technologies, and accelerating the development of foreign trade in fields such as communication, the Internet of Things, cloud computing, artificial intelligence, blockchain, and satellite navigation.
Cryptocurrency
▌Pump.fun's total fee income has reached 368 million USD since its launch, with a total number of deployed tokens reaching 4,038,775
According to on-chain analyst @ai_9684xtpa's monitoring, Pump.fun was launched on April 5 this year and has only been active for 239 days. The data for Pump.fun shows that total fee income has reached 1,527,143 SOL (approximately 368 million USD), with daily revenue of 1.54 million USD; the total number of deployed tokens is 4,038,775, with an average of 16,898 new tokens per day; monthly transaction volume is 388 million, nearly double that of all other DEXs combined; currently, all TOP 10 tokens have market values exceeding 200 million USD, with TOP1 Pnut even exceeding 1 billion USD; of the 14 Meme tokens launched by Binance so far (including spot and futures), 42.85% belong to the Pump.fun family, while this proportion is 85.71% within the SOL network.
▌The White House's promotion of Bitcoin may shake people's trust in the dollar as the global reserve currency
CF40 Research Institute published an article (the 'politicization' of cryptocurrencies) which reveals that with the conclusion of the 2024 US presidential election and Trump's victory, the cryptocurrency industry continues to advance into 'money politics,' attracting widespread attention. American scholar Vitaliy Katsenelson suggested that as market sentiment towards the US dollar has been disturbed, the White House's promotion of Bitcoin may shake people's trust in the dollar as the global reserve currency, thereby weakening the dollar's status. As for the current fiscal challenges, 'what can truly keep America great is not Bitcoin, but controlling debt and deficits.'
▌Grayscale's cryptocurrency portfolio market value increased by over 85% in the past month
According to data from Cryptorank, Grayscale Trust Investment's cryptocurrency holdings have increased by over 85% in market value over the past month, with Stellar and XRP experiencing triple-digit growth, confirming analysts' predictions of an upcoming altcoin season. Data shows that Stellar's monthly chart indicates an increase of over 469%, while XRP has risen by over 262% in the past month. The metaverse project Decentraland is the third largest token in the Grayscale portfolio, with an increase of over 105% in the past month.
▌300 million USDT transferred from Tether Treasury to Kraken
According to on-chain data tracking service Whale Alert, at around 7:42 AM Beijing time, 300,000,000 USDT (300,232,678 USD) was transferred from Tether Treasury to Kraken.
Important economic dynamics
▌Today's Fear and Greed Index has dropped to 81, still categorized as extreme greed
Today's Fear and Greed Index has dropped to 81 (yesterday it was 84), still categorized as extreme greed. Note: The fear index threshold is 0-100, and includes indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market surveys (15%) + Bitcoin's proportion in the overall market (10%) + Google trend analysis (10%).
▌Institutions: The probability of the Federal Reserve pausing interest rate cuts in mid-next year is rising
Minsheng Securities stated that the probability of the Federal Reserve pausing interest rate cuts in mid-next year is rising. The unemployment rate remains low, and inflation is hindered from declining; the Federal Reserve may have 2 to 3 more rate cuts next year, with a pause in the second half of the year. In a low-probability scenario, excessive tariffs and immigration policies may lead to a decline in US stocks and a significant downturn in the US economy, which could lead to more rate cuts next year.
Jinse Encyclopedia
▌What is an airdrop?
Airdrops are like surprise gifts in cryptocurrency. Imagine opening a box to find coins inside! This is similar to receiving announcements about free tokens or coins from new blockchain projects. Crypto airdrops involve the free distribution of digital assets to users' wallets, or as an exchange for completing simple tasks, such as following the project on social media or joining their online community.
In the cryptocurrency ecosystem, airdrops play a crucial role. New projects use airdrops as a marketing strategy to increase visibility and build user bases. They are like free samples in a supermarket, enticing users to try new products. From the user's perspective, airdrops provide an opportunity to acquire new cryptocurrencies with minimal effort, potentially yielding significant returns. These tokens are not just free giveaways; they are a way to participate in the evolving digital economy.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Everyone should establish a correct investment concept and raise risk awareness.
