Headlines

▌The US SEC has again postponed its decision on spot Ethereum ETF options

According to a document dated October 11, the U.S. SEC has once again postponed its decision on spot Ethereum ETF options. The document stated that the U.S. SEC postponed its decision on the proposed rule change that would allow the Cboe exchange to list options related to several popular spot Ethereum ETFs, and the deadline for the agency's ruling has been postponed from October 19 to December 3. Bloomberg Industry Research analyst James Seyffart said that BTC ETF options are likely to be launched in the United States in the first quarter of 2025.

Scroll airdrop distribution caused dissatisfaction among users

Golden Finance reported that Scroll announced that 15% of the total token supply will be used for future airdrops, of which 7% will be distributed on October 22. However, users expressed disappointment with the decision to allocate 5.5% to Binance Launchpool, believing that this allocation was unfair. Although Scroll stated that Binance could help it achieve global distribution, many users questioned this strategy, believing that it would be more beneficial to large investors. The total supply of SCR is 1 billion tokens, and users hope for a fairer distribution mechanism to reflect their contributions and efforts.

Quotes

As of press time, according to Coingecko data:

BTC's latest transaction price is $60,590.47, with a daily change of -2.5%;

ETH's most recent trading price is $2,367.40, with a daily change of -2.9%;

BNB's latest transaction price is $570.31, with a daily change of -1.7%;

SOL's latest trading price is $139.30, with a daily change of -2.8%;

DOGE's latest transaction price is 0.1079 yuan, with a daily increase or decrease of +0.8%;

XPR recently traded at $0.524, with a daily change of -1.3%.

policy

▌Biden: Authorized to provide Trump with everything he needs

When asked about Trump's security requirements, US President Biden said he had authorized Trump to be provided with everything he needed, Golden Finance reported. Earlier, according to the Washington Post, in the face of Iran's threats, Trump made security requirements for the use of military aircraft and vehicles.

Blockchain Applications

▌Shenyu: Call on dApp and plug-in wallets to add Permit signature switch

On October 11, Cobo co-founder and CEO Shenyu posted on social media, calling on dApps and plug-in wallets to add a Permit signature switch.

Cryptocurrency

▌Trump Family Project WLFI: Public sales will be open to whitelisted users on October 15

World Liberty Financial (WLFI), a Trump family project, posted on the X platform that "public sales will begin on October 15 and are open to all those who qualify through the whitelist."

▌Analysis: Macro factors affecting cryptocurrency performance are shifting from monetary policy to the US election

Golden Finance reported that Coinbase analysts David Duong and David Han said, "Despite Bitcoin's sluggish price trend this week, market sentiment has remained basically unchanged, as evidenced by the stability of perpetual contract funding rates and the number of open contracts over the past week." Coinbase analysts pointed out that the macro factors affecting the performance of cryptocurrencies are shifting from monetary policy to the results of the US election. Despite the recent increase in CPI and core PPI, market expectations for interest rate cuts remain roughly stable.

▌FOX reporter: Ripple founder donates $1 million in XRP to Harris Political Action Committee

Golden Finance reported that FOX reporter Eleanor Terrett posted on social media that "Ripple founder Chris Larsen has made the first recorded cryptocurrency donation to Kamala Harris. According to new US Federal Election Commission (FEC) filings, Larsen donated $1 million in XRP to Future Forward USA, one of the main super political action committees supporting Harris."

GSR analyst: Bitcoin price fluctuations are mainly driven by emotions, not fundamentals

Golden Finance reported that GSR analysts said that Bitcoin's unpredictable price fluctuations are mainly driven by emotions rather than fundamentals. Market observers are now focusing on four key factors that may affect Bitcoin prices: the US election, the monetary policies of central banks, the US economy and the sales of Bitcoins confiscated by the US government in the Silk Road case.

Important economic developments

▌The three major U.S. stock indexes closed higher

According to Golden Finance, the three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.97%, the Nasdaq up 0.33%, and the S&P 500 up 0.61%. Large technology stocks had mixed gains and losses, with Tesla falling more than 8%.

▌The one-year U.S. credit default swap rose to 48 basis points, the highest level since November 2023

Golden Finance reported that S&P Global Market Intelligence data showed that the U.S. one-year credit default swap rose to 48 basis points, the highest level since November 2023.

▌Fed's Logan: U.S. economy remains strong and stable

Golden Finance reported that Fed's Logan said that recent inflation data is "very welcome"; reducing policy restrictiveness can also cool inflation; the US economy remains strong and stable; gradually adjusting policies towards a neutral interest rate is of great significance; the banking industry must continue to diversify its financing channels; the Fed's discount window is one of the important sources of bank financing.

▌The three major U.S. stock indices all turned positive, with the Dow Jones Industrial Average increasing by 0.57%

Golden Finance reported that the market showed that the three major U.S. stock indexes all turned positive, with the Dow Jones Industrial Average expanding its gain to 0.57%. Bank stocks generally rose, with Wells Fargo (WFC.N) up 5.7%, Bank of America (BAC.N) and JPMorgan Chase (JPM.N) up more than 5%, Citigroup (C.N) up more than 3%, and Bank of New York Mellon (BK.N) up more than 2%.

▌Fed meeting minutes: There are risks in cutting interest rates too late or too early

Some participants emphasized that reducing the restrictiveness of policy too late or too little could risk unduly weakening economic activity and employment. Some participants particularly emphasized the costs and challenges of addressing such weakening once it has fully set in. However, several participants said that reducing the restrictiveness of policy too early or too much could cause progress in fighting inflation to stall or reverse. Some participants noted that uncertainty about the longer-run neutral level of the interest rate complicated assessments of the extent of policy restrictiveness and viewed a gradual reduction in policy restrictions as appropriate.

▌The probability of the Fed cutting interest rates by 25BP in November is 95.6%, and the probability of not cutting interest rates is 4.4%.

Golden Finance reported that according to CME's "Fed Watch": the probability of the Fed cutting interest rates by 25 basis points by November is 95.6%, and the probability of maintaining the current interest rate is 4.4%. The probability of a cumulative interest rate cut of 50 basis points by December is 84.1%, the probability of a cumulative interest rate cut of 75 basis points is 0%, and the probability of a cumulative interest rate cut of 100 basis points is 0%.

Golden Encyclopedia

What are Rollups?

Rollup is a way to process transactions on a Layer 2 protocol, freeing up valuable space on the base layer. Rollup folds transactions one by one on the second layer, sometimes dozens of times, and then rolls them together before sending the data back to Layer 1. There are two main types of Rollup, optimistic and zero-knowledge (ZK) proofs.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.