Featured News
1. Meme trading tool ABOT announced that it will gradually shut down its business
2. GRASS breaks through $1.1, reaching a new high
3. Ethervista (VISTA) rose nearly 70% in 24 hours, approaching its historical high
4. Russia will lift the ban on Bitcoin mining tomorrow and plans to build mining and artificial intelligence facilities in BRICS countries
5. Jito has reached the re-pledge deposit limit and will open more quotas in the second phase
Trending Topics
来源：Overheard on CT（tg：@overheardonct），Kaito
COINBASE: Today, Coinbase became the focus of discussion due to its third-quarter financial report. Although revenue was lower than expected, the company announced a $1 billion stock buyback and invested $25 million to support crypto-friendly policies. In addition, Coinbase cooperated with Visa to launch instant crypto deposit and withdrawal functions, further promoting the popularity of cryptocurrencies. Although the financial report performance has raised some doubts, Coinbase's expansion of on-chain influence and political influence is still attracting attention.
NILLION: Nillion has attracted much attention for its $25 million round led by Hack VC, bringing its total funding to $50 million. The project focuses on "blind computing", which allows data to be processed without revealing its content, and has shown great potential at the intersection of blockchain and AI. The support of investors such as Hashkey highlights its transformative potential in industries such as AI, finance and healthcare.
$LINK: Chainlink released the Chainlink Runtime Environment (CRE) at SmartCon 2024. The platform upgrade realizes modular and scalable architecture across thousands of chains, which is expected to transform Web3 application development. At the same time, new products such as CCIP v1.5 and the Cross-Chain Token (CCT) standard have also received high praise, further consolidating its leadership in blockchain interoperability.
MORPH: Today, the launch of the MORPH mainnet has been widely welcomed by the crypto community, marking the official launch of its consumer-oriented Ethereum Layer 2 solution, which adopts a decentralized sorting and hybrid verification system. The community is full of expectations for its potential large-scale applications and believes that it will have an important impact on the blockchain ecosystem.
Threads & Tweets
1. DEX trading volume hits a new all-time high again, @richwgalvin
2. The AI Agent Revolution: 2 Trends You Need to Know, @Defi0xJeff
Featured Articles
1. (The strategy of "issuing bonds to buy coins" has not changed, why did the MSTR premium suddenly soar?)
BlockBeats
As for the surge in MSTR, most people in the market still interpret it as "leveraged Bitcoin". However, this does not seem to explain why the premium of MSTR suddenly soared when the fundamentals of "issuing bonds to buy coins" remained unchanged. After all, MicroStrategy has been buying coins for so many years, and has never seen the premium rise so much. In fact, in addition to "issuing bonds to buy coins", the recent surge in MSTR premium is also due to another secret weapon of MicroStrategy, which not only has a huge impact on the fundamentals of MSTR, but is even called MicroStrategy's "unlimited money printing machine" by many analysts, making MSTR "more valuable the more it is sold."
2. (Talking about Ethereum’s current “dilemma” from the perspective of the primary market: How to achieve more innovation and value capture?)
Lao Bai, ABCDE Investment Research Partner
My only concern is whether ETH is content with the status quo, willing to let innovation and value capture happen in L2, and L1 itself can do DA and settlement with peace of mind (while facing competition from projects such as Celestia), and the price of the currency has remained calm. But I don’t have an answer myself. It is an established fact that ETH L1 is currently weak in capturing the value of L2, and L1’s GAS and TPS are indeed not enough to carry Mass Adoption type applications. The old Defi+possibly new RWA track alone does not seem to be enough for everyone to see ETH rush to the peak of 10,000 US dollars. If in the next few years, BTC is 150,000-200,000, Solana is 500-1000, and ETH is still hovering around 3,000 or 4,000, the confidence and status accumulated in the past 10 years will surely be slowly worn out.
3.(The Fat Wallet Thesis)
Delphi Digital
This post aims to accomplish three things. First, we’ll outline three structural trends that will continue to commoditize the protocol and application layers, respectively. Second, we’ll explore various avenues for wallets to monetize their proximity to end users, including payment for order flow (PFOF) and selling application distribution as a service (DaaS). Finally, we’ll explore why two alternative frontends — Jupiter and Infinex — may ultimately beat wallets in the race for end users.
Biggest gainers & losers
Token volatility on October 31, sorted by trading volume
Top Gainer
1.$MASK
2.$GRASS
3. DOTS
Top Loser
1.$LIGHT
2.$CAT
3.$SANTOS
On-chain data
On-chain fund flows on October 31
