The crypto market has not fluctuated much in the past two days, with the price of Bitcoin hovering around $62,000 and Ethereum fluctuating around $2,450.
Among altcoins, the MEME sector performed the strongest, with Turbo, Babydoge, and Mooden rising by more than 20% against the trend.
There are currently no new hot spots in the market, and funds and attention are mainly concentrated in the MEME sector.
One of the pain points of the market now is that it is controlled by too many interest groups. The remaining profits have been divided up almost entirely among them, making it difficult for retail investors to make money in the market.
From the big trend point of view, as the world's first and second largest economies begin to flood the market with money, when new funds and investors come in, the crypto market will most likely usher in a relatively large wave of growth next year.
In the current volatile trend, it is recommended to open a spot grid and let the quantitative robot automatically buy high and sell low, which can also make good profits.
Next, let’s take a look at the news and data that are worth paying attention to:
1. Binance launches new coin Scroll and launches it in Launchpool and pre-market
According to the official announcement, Binance's Launchpool will launch the 60th project Scroll. Users can get SCR airdrop rewards by locking BNB and FDUSD.
The mining time this time is relatively short, starting at 8 am today and lasting for a total of two days, ending on October 11, so the mining yield may not be too high.
From the perspective of token distribution, the total amount of SCR is 1 billion, and the initial circulation is 190 million, accounting for 19% of the total. Launchpool will allocate 55 million tokens, accounting for 5.5% of the total.
Among them, the BNB mining pool will allocate 85% of the Launchpool tokens, and FDUSD will allocate the remaining 15%.
South Korean crypto KOL Definalist said on the X platform that South Korean crypto exchanges Upbit and Bithumb have completed the testing of the Scroll mainnet, which means that the two exchanges may soon list SCR tokens.
According to Aevo pre-market data, SCR's latest transaction price is US$1.65, corresponding to a market capitalization of US$314 million and a fully diluted valuation (FDV) of US$1.65 billion.
It is expected that the price of SCR after it goes online will be between US$1.2 and US$1.4.
However, it should be noted that referring to the trend of the previous Binance Launchpool project, after the new project is launched on Binance, the liquidity will be fully released and there is a high probability that it will experience a wave of market crashes, so pay attention to the risks.
2. Bitcoin spot ETF continues to see net inflows
According to data from Arkham on X, Fidelity has purchased more than $100 million worth of Bitcoin in the past 24 hours.
Compared to Ethereum data on Monday, Bitcoin performed much better, which also shows investors' preference for Bitcoin.
In the past 24 hours, U.S. investors have seen a net inflow of 3,440 bitcoins, marking the second consecutive day of net increases.
Among them, BlackRock and Fidelity both increased their holdings by more than 1,500 bitcoins.
In terms of selling, only Grayscale's GBTC sold 250 bitcoins, while the other six institutions all had net inflows, and five institutions saw no change.
Judging from the data on Bitcoin, investor sentiment remains high, especially BlackRock and Fidelity, which have been increasing their holdings for a long time.
The selling volume of GBTC has also dropped significantly to a low point, and Grayscale is no longer the main source of Bitcoin selling pressure.
The ETF data also showed that not only was investor buying power strong, but there was also no noticeable increase in selling volume.
This shows that most investors are still optimistic about the future of Bitcoin and are actively planning to buy it.
3. Standard Chartered Bank predicts: If Trump wins the election, Solana will outperform Ethereum and Bitcoin in 2025
The United Kingdom’s Standard Chartered Bank predicts that by 2025, Solana will outperform Ethereum, which in turn will outperform Bitcoin.
Standard Chartered Bank says Solana’s price could rise fivefold if Trump wins the U.S. presidential election.
The bank’s head of digital asset research, Geoffrey Kendrick, introduced a new valuation methodology with a particular focus on Solana and Ethereum.
He also mentioned that no matter who wins the election, he expects the price of Bitcoin to reach $200,000 by the end of 2025.
Kendrick pointed out that based on various indicators, Solana’s current valuation is higher than Ethereum.
He also predicted that if Trump is in power, the price of Ethereum could reach around $10,000, while if Harris is in power, the price could be around $7,000.
Judging from the current trend, the probability of Trump winning is increasing. If he is really elected, coupled with the Federal Reserve’s interest rate cut policy, Bitcoin may hit a high of $90,000 to $100,000 by the end of the year.
4. Microstrategy stock price will rise 64% due to Bitcoin investment
Recently, the performance of Microstrategy's stock MSTR has attracted market attention.
As a company that holds a large amount of Bitcoin, MicroStrategy's stock price has broken through important pressure levels during Bitcoin's sideways trading.
MicroStrategy's stock price often reflects changes in Bitcoin's price in advance because it receives capital inflows relatively quickly.
This means that when the price of Bitcoin fluctuates, Microstrategy's stock price may react first.
So in general, the current crypto market lacks new hot spots, the market is not very active, and big funds have all gone to play A-shares and Hong Kong stocks.
However, we don’t need to worry too much. From the perspective of the general trend, as major economies around the world begin to implement loose monetary policies, the crypto market will most likely see a relatively large increase next year.
In this volatile market, you can consider opening a spot grid order and let the quantitative robot automatically buy low and sell high, which can also make a good profit.
