📰 Blockchain Morning Report - November 22, 2024 📷 Exclusive insights into the latest developments in the crypto world, not to be missed!
1. Market Dynamics 🧐
🎯 Bitcoin ($BTC): Bitcoin surged to $98,668 this morning, creating a new historical high, just a step away from the $100,000 mark, with its market dominance rising to 59.68%. Glassnode's report shows that retail investors have sold a significant amount of Bitcoin in the past 30 days, impacting the supply-demand dynamics of the Bitcoin market.
💫 Ethereum ($ETH): Ethereum has started a rebound, gradually boosting market confidence in the arrival of 'altcoin season', which has positively influenced market sentiment.
🌈 Solana ($SOL): Solana surged after news of ETF applications in the early morning, nearing its all-time high, just a step away from $259.9. Both 21Shares and VanEck have submitted Solana ETF applications to the CBOE, attracting significant attention.
🎗 Binance Coin ($BNB): Binance Coin has been relatively quiet, but the market is expecting significant movements in the future, leading to speculation about its future trends.
2. Industry Hotspots 🎯
💡 #memecoins Index: The #memecoins index surged, reflecting strong market interest in newly listed projects and showcasing market hotspots.
💫 Daily Trading Volume: Daily trading volume reached a new high in 12 months, indicating a significant increase in market activity and a vibrant trading atmosphere.
💥 FTX Plan: FTX plans to start user compensation in March 2025, with the restructuring plan expected to take effect in early January 2025. The market is paying close attention to the follow-up processes related to FTX. 💫 FTX Plan #User Compensation #Restructuring Plan
💡 Kraken Situation: On Kraken, the trading volume of Dogecoin perpetual futures reached a record high due to the rise in Bitcoin, reflecting the interrelated impact of different cryptocurrencies.
💎 Sui Network: The Sui Network experienced nearly 2 hours of downtime, but the issue was resolved within 2.5 hours, raising concerns about network stability.
💡 Aptos: The hype around Aptos' pump.fun has quickly faded, reflecting the change in project popularity.
3. Industry Trends 🎯
💎 Trump-related: The Trump administration may establish a 'Crypto Czar' position, with Chris Giancarlo seen as a leading candidate. Meanwhile, Trump Media Group has applied for the 'TruthFi' trademark to launch a crypto payment service, and Trump nominated Pam Bondi as Attorney General, which could influence policy direction in the crypto industry.
💫 Texas Court: The Texas court overturned the SEC's expanded 'dealer' rule, providing protection for the crypto industry and influencing the regulatory environment.
💎 US CFPB: The new rules from the US CFPB exclude cryptocurrencies from being part of large non-bank companies' digital payments, clarifying the position of cryptocurrencies in related fields.
💡 MicroStrategy: MicroStrategy raised $3 billion to purchase more Bitcoin, further strengthening its position in the Bitcoin investment space.
💫 Steakholder Foods: The board of Steakholder Foods approved the purchase of cryptocurrency as a reserve asset, demonstrating corporate recognition and application expansion for cryptocurrencies.
💡 Federal Reserve Goolsbee: Federal Reserve Goolsbee hinted that the pace of interest rate cuts may slow down, a statement that will impact market expectations regarding macroeconomic policies and liquidity.
💫 Federal Reserve Schmidt: Federal Reserve Schmidt clarified that cryptocurrencies are a tradable asset but not a currency, further defining the attributes of cryptocurrencies.
