Organized by Luan Peng, ChainCatcher.
Important information:
Detroit will become the largest U.S. city to accept cryptocurrency payments.
CoinShares research director: Trump's election win could propel Bitcoin to $100,000.
Trump's team is considering listing Robinhood's Chief Legal and Compliance Officer Dan Gallagher as a candidate for chairman of the U.S. Securities and Exchange Commission.
Ethereum Foundation 2024 report: 99.45% of crypto holdings are ETH, with asset reserves of approximately $970.2 million.
200th Ethereum ACDE meeting: The team plans to phase out Pectra Devnet 4 soon.
Nansen CEO: Spent a long time studying Bitcoin L2 and believes a 'winner' has been found.
"What important events have occurred in the past 24 hours?"
Detroit will become the largest U.S. city to accept cryptocurrency payments.
According to The Block, Detroit city officials announced on Thursday that the city will become the largest U.S. city to accept cryptocurrency payments. Residents will be able to use a secure platform managed by PayPal to pay taxes and other city fees with cryptocurrency.
Financial officer Nikhil Patel stated that this option will be launched in mid-2025, while further improvements will also be made to urban payment services. This is part of a larger strategy for the city of Detroit aimed at exploring innovative technologies that can enhance public services, strengthen citizen engagement, and promote economic growth.
CoinShares research director: Trump's election win could propel Bitcoin to $100,000.
According to CNBC, CoinShares research director James Butterfill stated that Trump's victory in the presidential election and the Republican Party gaining a new majority in the Senate may make it easier to pass a "pro-innovation regulatory framework."
Thus, a Bitcoin price rise to $100,000 (implying a 33% increase potential) is "now possible." It believes that the main catalysts for Bitcoin's future development are changes in the SEC leadership, cryptocurrency-friendly regulation, and further adoption by major enterprises.
Trump's team is considering listing Robinhood's Chief Legal and Compliance Officer Dan Gallagher as a candidate for chairman of the U.S. Securities and Exchange Commission.
According to Jinshi reports, Trump's team is considering listing Robinhood's Chief Legal and Compliance Officer Dan Gallagher as a candidate for chairman of the U.S. Securities and Exchange Commission.
Ethereum Foundation 2024 report: 99.45% of crypto holdings are ETH, with asset reserves of approximately $970.2 million.
The Ethereum Foundation released its 2024 report stating that as of October 31, 2024, the EF (Ethereum Foundation) has asset reserves of approximately $970.2 million, of which $788.7 million is in crypto assets and $181.5 million is in non-crypto investments and assets.
The majority of our crypto holdings (99.45%) are held in ETH. This ETH represents 0.26% of the total supply of ETH as of October 31, 2024. We choose to hold most of our reserves in ETH. The Ethereum Foundation believes in Ethereum's potential, and our ETH holdings reflect this long-term perspective. At the same time, the goal of EF's asset reserves is to provide funding support for important public goods in the Ethereum ecosystem for the coming years.
To achieve this goal, we must follow a conservative financial management policy to ensure ample resources even during years of market downturns. This requires regularly selling ETH to ensure reserves are sufficient for the coming years and increasing our fiat currency reserves as planned during bull markets to fund expenditures during bear markets.
200th Ethereum ACDE meeting: The team plans to phase out Pectra Devnet 4 soon.
Galaxy research vice president Christine Kim summarized the 200th Ethereum core developer execution (ACDE) conference, where developers shared the latest updates on Pectra Devnet and the next steps for PeerDAS Devnet; they also discussed short-term solutions to address Ethereum's historical growth issues and the removal of EIP 7610 from Pectra; additionally, the team plans to phase out Pectra Devnet 4 soon.
Nansen CEO: Spent a long time studying Bitcoin L2 and believes a 'winner' has been found.
Blockchain analysis platform Nansen CEO Alex Svanevik posted on social media: "Spent a lot of time studying Bitcoin's Layer 2 networks (L2). I think we have found a winner. Stay tuned."
Upbit will launch trading pairs for DRIFT, KRW, BTC, USDT.
According to an official announcement, Upbit will launch trading pairs for DRIFT, KRW, BTC, USDT.
Musk: X platform usage has reached 434.1 billion, a record high.
Musk tweeted that the current usage of the X platform has reached 434.1 billion, a record high.
Data: SOL's market cap once again surpassed BNB to become the fourth largest cryptocurrency by market cap.
According to data from CoinGecko, SOL has risen nearly 6% in the past 24 hours, currently priced at $199.24, with a market cap exceeding $94 billion, reaching $93,946,886,618, surpassing BNB ($87,804,310,919) to become the fourth largest cryptocurrency by market cap.
Previously, on July 26, SOL's market cap surpassed BNB to become the fourth largest cryptocurrency by market cap.
Data: 49,000 BTC options and 295,000 ETH options expire today, with a total notional value of $4.56 billion.
Adam, a macro analyst at Greeks.live, posted on the X platform: The options market welcomes the concentrated settlement of BTC and ETH options today. Data shows that 49,000 BTC options expire, with a Put Call Ratio of 0.72, and the maximum pain point at $69,000, with a notional value of $3.7 billion; for ETH options, the expiring quantity reaches 295,000, with a Put Call Ratio of 0.65, the maximum pain point at $2,500, with a notional value of $860 million.
Adam analyzes that with Trump's election victory, Bitcoin surged significantly this week, breaking through $75,000 to reach a record high, driving Ethereum to rebound to $2,900. Today's expiring options account for 15% of total open interest, but the maximum pain point remains unaffected. Due to the election, short-term option implied volatility (IV) has significantly decreased, and market sentiment is optimistic, suggesting that the strong trend may continue into the fourth quarter.
Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately HKD 29.55 million.
Hong Kong stock market data shows that as of closing, the trading volume of 6 Hong Kong virtual asset ETFs today is approximately HKD 29.55 million.
Among them:
The trading volume of Huaxia Bitcoin ETF (3042.HK) is HKD 7.32 million;
The trading volume of Huaxia Ethereum ETF (3046.HK) is HKD 13.88 million;
Harvest Bitcoin ETF (3439.HK) trading volume is HKD 1.91 million;
Harvest Ethereum ETF (3179.HK) trading volume is HKD 2.84 million;
BOCI HashKey Bitcoin ETF (3008.HK) trading volume is HKD 1.85 million;
BOCI HashKey Ethereum ETF (3009.HK) trading volume is HKD 2.25 million.
"What exciting articles are worth reading in the past 24 hours?"
After the U.S. elections, how long will the Polymarket and prediction market craze last?
New users on Polymarket are likely to continue using the platform after the U.S. election cycle. About 4/3 of users trade on non-election-related topics, indicating continued interest in diverse topics.
Full text of the Federal Reserve statement: Cut interest rates by 25 basis points, with no votes against.
On November 8, the Federal Reserve announced a 25 basis point cut to 4.5%-4.75%, in line with market expectations. This decision was unanimously passed, with the policy statement's wording remaining largely unchanged, continuing to emphasize close monitoring of risks to dual objectives, but removing the phrase "more confident that inflation is sustainably moving towards the target". It did not provide any clear signals regarding future interest rate cuts and did not comment on the outcome of the U.S. elections in any way.
How much will Trump's wealth increase upon returning to the White House?
A few hours before voting ends on U.S. Election Day, Donald Trump's social media company released a dismal financial update: in the first 9 months of 2024, the company's sales amounted to only $2.6 million, with an operating loss of up to $363 million.
But just 12 hours later, as news emerged that the former president would make a resounding return to the White House, the company's stock price soared by 60%, and Trump's personal wealth instantly increased by $2.4 billion.
The market is always predicting who will wield power in Washington. But to assess the wealth of a U.S. president, there is no clearer method than looking at Trump's personal wealth. Bloomberg's Billionaires Index estimates Trump's personal wealth at approximately $6.7 billion.
Trump's victory will solidify his business empire spanning media, real estate, and cryptocurrency, which largely relies on his image, brand, and most importantly, his political power. Additionally, Trump now has the ability to resolve multiple legal disputes that threaten his business and freedom, making the prospects for many of his investments brighter than ever.
One of the many benefits of being president is that this authoritative status is likely to bring a significant advantage in the difficult negotiations regarding some of Trump's real estate assets. Real estate experts say that because Trump holds a core position in Republican politics, the value of his Mar-a-Lago estate in Palm Beach has become even higher. Not to mention that investors, whether American or from other countries, will seek to collaborate with him to establish some connection to the White House.
"Perhaps his net worth will reach $100 billion. I don't know; he will figure it out. He really will figure it out," said Louise Sunshine, former executive vice president of the Trump Organization who participated in the development of Trump Tower. "He will be richer and more powerful than ever."
An overview of the holdings of five major crypto market makers in MEME coins: Wintermute's large bets received high success rates for Binance listings, while most institutions are focused on established projects.
This article summarizes the MEME coin holdings of 5 crypto market makers, collectively holding over $120 million worth of MEME coins, with Wintermute being the largest holder and covering the most popular projects, and several of its held MEME coins successfully launched on Binance, while other institutions hold smaller amounts, primarily consisting of established MEME coins like PEPE and SHIB.
The SEC chairman's term is about to expire; what else can he do for the crypto industry?
Despite facing dissatisfaction from the crypto industry, SEC Chairman Gary Gensler still has the ability to initiate multiple actions before leaving office.
