Headlines
BTC rose to 89,833 USDT, setting a new historical high.
Odaily Planet Daily News OKX market data shows that BTC rose to 89,833 USDT, currently trading at 89,759 USDT, with a 24H increase of 11%, setting a new historical high.
Ethereum Foundation researcher proposes the consensus layer upgrade proposal "Beam Chain."
Odaily Planet Daily News Ethereum Foundation researcher Justin Drake proposed a new consensus layer upgrade proposal called "Beam Chain" at the Devcon conference, referred to by the community as "Ethereum 3.0." The proposal aims to achieve faster block times, lower validator staking requirements, "on-chain snarkification," and improvements in quantum safety. The core of Beam Chain involves introducing technologies like zkVM to significantly enhance the scalability of the Ethereum mainnet, potentially without relying on Layer 2 solutions. Doug Colkitt, founder of Ambient Finance, predicts that the localization of zkEVM could completely eliminate Gas limits, allowing nodes to only verify snark, theoretically achieving infinite scalability for L1. Nevertheless, this proposal could lead to further centralization in block construction. Drake emphasized that the final implementation of Beam Chain requires community consensus and described it as his "most ambitious proposal to date." He had previously resigned from his advisory position due to potential conflicts of interest with EigenLayer. (The Block)
Trump: Elon Musk and Vivek Ramaswamy will lead the efficiency department of the government.
Odaily Planet Daily News Trump stated that Elon Musk and American entrepreneur Vivek Ramaswamy will collaborate to lead the proposed government efficiency department (referred to as DOGE). This department will pave the way to dismantle the government bureaucracy, cut unnecessary regulations, reduce wasteful spending, and reorganize federal agencies.
Industry News
Yesterday, the net inflow of Bitcoin spot ETF in the U.S. was $1.09388 billion.
Odaily Planet Daily News According to Farside Investors data, yesterday the net inflow of Bitcoin spot ETF in the United States was $1.09388 billion.
Yesterday, the net inflow of Bitcoin spot ETF in the U.S. was $294.9 million, setting a record for the highest single-day inflow.
Odaily Planet Daily News According to Farside Investors data, yesterday the net inflow of Ethereum spot ETF in the United States was $294.9 million, setting a record for the highest single-day inflow.
Cryptocurrency market capitalization surpasses $3.1 trillion, approaching France's GDP.
Odaily Planet Daily News The cryptocurrency market capitalization has reached a historic high of $3.12 trillion, currently approaching France's Gross Domestic Product (GDP). If the cryptocurrency market were treated as a country, its GDP would rank eighth, behind the United States, China, Germany, Japan, India, the United Kingdom, and France. Meanwhile, Bitcoin's market capitalization alone has exceeded $1.77 trillion, surpassing Spain's GDP. (Cointelegraph)
Survey: Respondent investors expect the cryptocurrency bull market to last until 2025 and peak in the second half.
Odaily Planet Daily News Web3 investment institution MV Global, based on a survey of 77 large cryptocurrency investors (including venture capital firms, hedge funds, and high-net-worth individuals), stated that investors expect the cryptocurrency bull market to last until 2025, peaking in the second half of the year. MV Global's executive partner Tom Dunleavy pointed out: "This seems to be a very popular view, and it is likely already digested by the market." MV Global predicts that Bitcoin prices will reach between $100,000 and $150,000. Additionally, the survey shows that investors are particularly optimistic about Solana, with 30% of investors predicting its price will peak above $600 before the end of this cycle. "Almost all the allocators we interviewed are optimistic about Solana," Dunleavy said. However, respondents had mixed views on Ethereum. One-third of investors expect ETH to only rise slightly, with a maximum price between $3,000 and $5,000, while another third believe ETH will reach $7,000 before the end of the market cycle. (Cointelegraph)
Coinbase launches COIN 50 index, which can be traded as perpetual futures.
Odaily Planet Daily News Coinbase has launched a new index called "COIN 50," which represents the top 50 digital assets listed on its exchange that meet the basic inclusion criteria for the index and can be traded as perpetual futures, with leverage up to 20 times. (TheBlock)
Bitwise will launch the world's first Aptos Staking ETP on the Swiss Stock Exchange.
Odaily Planet Daily News Bitwise Asset Management announced today that the new Bitwise Aptos Staking ETP (stock code: APTB; ISIN DE 000 A 4 AJWU 3) is set to be listed on the Swiss Stock Exchange on November 19, 2024. This product will become the world's first Aptos Staking ETP.
Mt. Gox address transferred 2,500 BTC, worth $222.26 million
Odaily Planet Daily News According to Arkham monitoring, Mt. Gox address transferred 2,500 BTC, worth about $222.26 million, to an address starting with 1 PQZw 2 twenty minutes ago.
Ethereum Foundation sold 100 ETH in exchange for 334,315.7 DAI
Odaily Planet Daily News According to Spot On Chain monitoring, the Ethereum Foundation sold 100 ETH in exchange for 334,315.7 DAI about 25 minutes ago. This is the first ETH sale since the release of the 2024 report on November 8. The report showed that the foundation's asset reserves as of October 31 were $970.2 million, of which $788.7 million were cryptocurrency assets (99.45% being $ETH). The Ethereum Foundation plans to periodically sell ETH to fund key public projects and maintain reserves. As of 2024, the foundation has cumulatively sold 4,266 ETH, raising $11.83 million, with an average sale price of about $2,773.
The sleeping baked cat address transferred all 206.34 BTC, valued at $18.12 million, 10 minutes ago.
Odaily Planet Daily News According to on-chain analyst @ai_9684_xtpa monitoring, the sleeping address of the baked cat 1 BnkE...yxFey transferred 206.34 BTC, valued at $18.12 million, to 15286...bjYma ten minutes ago; currently, the BTC of that address has been completely drained.
Project News
CZ updates on the progress of his new educational project, the new version integrates AI technology.
Odaily Planet Daily News CZ updated this morning on social media about the progress of his new educational project, Giggle Academy. Giggle Academy has updated its official website, and the app will launch some courses, as well as an AI-assisted storybook creator. Additionally, Giggle Academy is hiring AI video engineers, and applicants must be familiar with using AI to generate long-form continuous videos.
Starknet mainnet STRK staking feature will be enabled on November 26.
Odaily Planet Daily News Ethereum Layer 2 network Starknet has officially announced that it will launch the STRK token staking feature on November 26. This feature has undergone extensive testing on the Sepolia testnet and is about to enter the first phase of deployment. According to the official announcement, there are two ways to participate in staking: to become a validator, one must stake at least 20,000 STRK and run a full node; to become a delegator, one only needs to hold STRK tokens and select from the available validator list. Whether as a validator or a delegator, unstaking requires a 21-day lock-up period.
Pendle is about to launch a yield trading platform Boros and change the future income distribution of the protocol.
Odaily Planet Daily News Pendle announced that it will soon launch a yield trading platform called Boros (formerly named Pendle V3), which will provide traders with more flexible and precise trading funding rate functionality. The official statement indicates that no new tokens will be launched, nor will there be changes in token economics. Additionally, individual vePENDLE holders will receive airdrops from points collected by the protocol, with the snapshot taken at 7:59 on January 1, 2025, Beijing time. Tokens will be distributed proportionally, and the airdrop will not include third-party liquidity staking platforms. Currently, the distributed tokens include sENA, REZ, ETHFI, PUFFER, EIGEN, and COOK. The official will also change the revenue distribution of the Pendle protocol, with 80% allocated to vePENDLE, 10% allocated to the protocol treasury, and 10% allocated to protocol operation and maintenance. Changes at the protocol level will only take effect when Boros is officially launched, and V2 fees will continue to be optimized based on demand.
The founding team of the blockchain game Parallel announced that it will proactively extend the token lock-up period by 10 years.
Odaily Planet Daily News The official Chain Game Parallel announced that the founding team will deposit all tokens (including tokens already deposited into the Wayfinder cache contract, unlocked tokens, unclaimed tokens, and other tokens) into a new trustless smart contract, which will unlock 10% of the tokens annually over the next 10 years. The Parallel founding team added that this decision reinforces the long-term consistency between the team and the project, and over the next few months, the team will transfer all tokens to a new contract to initiate this new 10-year unlocking plan. Furthermore, these tokens will no longer be handled by team members but will be professionally managed under the guidance of the foundation.
Ethereum Layer 2 protocol Lisk launches mainnet and announces airdrop plan.
Odaily Planet Daily News The Ethereum Layer 2 protocol Lisk has gone live on the mainnet and announced an airdrop plan. The airdrop activity for Lisk will start on November 21 and will last for four months. One way for users to receive points is by completing tasks on the Lisk platform. This allows them to earn points, and the total points they obtain will determine how many LSK tokens they will receive through the airdrop. Lisk was originally launched in 2016 as a Layer 1 blockchain. It transitioned to Ethereum Layer 2 in December 2023 to focus on RWA and decentralized physical infrastructure networks.
Previous news indicated that Lisk is based on Optimism's Layer 2 development framework OP Stack and Gelato's aggregation-as-a-service platform. This move will also transition the platform's native token LSK to Ethereum. (The Block)
Regulatory Trends
U.S. Senator Lummis advances cryptocurrency legislation and supports the Bitcoin reserve proposal.
Odaily Planet Daily News After Trump won the 2024 U.S. presidential election on November 5, U.S. Senator Cynthia Lummis expressed support for his proposed Bitcoin reserve proposal. Lummis is a Republican from Wyoming and a staunch supporter of cryptocurrency. She emphasized her intention to promote cryptocurrency legislation in the Senate and suggested that the U.S. buy 1 million Bitcoins (about 5% of its supply) and hold them for at least 20 years. This initiative is based on Trump's idea that the government should hold rather than liquidate its seized Bitcoin assets. (Cointelegraph)
Italy plans to raise the cryptocurrency trading tax rate to 28%, rather than the previously proposed 42%.
Odaily Planet Daily News Sources reveal that the government led by Italian Prime Minister Giorgia Meloni may approve the proposal from coalition partners to lower the tax increase on cryptocurrency trading. A copy of the proposal shows that as the junior partner in Meloni's ruling coalition, The League has proposed an amendment to limit the cryptocurrency trading tax rate to 28%, down from the previous proposal to increase it to 42%. The current tax rate is 26%. Cryptocurrency executives have stated that the proposed tax rate is too high and will render local industry competitiveness lower than that of other EU countries. The EU is preparing to fully adopt its first EU-wide cryptocurrency regulation, known as "MiCA," by the end of this year. Additionally, another coalition party Forza Italia, founded by the late Silvio Berlusconi, proposed another amendment aimed at completely eliminating the tax increase and abolishing the tax exemption for gains of €2,000 ($2,120) or less. As part of the coalition's proposed amendments, Italy will establish a permanent working group composed of digital asset companies and consumer associations to educate investors about cryptocurrency knowledge. Two sources indicated that the government is likely to approve the League's proposal, although no final decision has been made and modifications may occur. (Bloomberg)
South Korea's opposition party opposes the postponement of cryptocurrency tax plans.
Odaily Planet Daily News South Korea's Democratic Party spokesperson Noh Jong-myun stated that the ruling party's plan to postpone the virtual asset tax plan for two years is "unacceptable." (News 1)
Investment and Financing
Cryptocurrency AML service provider Notabene completed $14.5 million in Series B financing, led by DRW VC
Odaily Planet Daily News Cryptocurrency anti-money laundering (AML) service provider Notabene completed $14.5 million in Series B financing, led by DRW VC, with participation from pollo, Nextblock, ParaFi Capital, and funds managed under Wintermute. Notabene aims to become the SWIFT for cryptocurrency transactions, with its network effects continuously strengthening, as 165 companies are already using the platform, including some of the world's largest virtual asset service providers (VASP), such as Copper, OKX, and Ramp. (Coindesk)
Animoca Brands completed $10 million financing for its Mocaverse, with participation from OKX Ventures, CMCC Global, Hong Shan, etc.
Odaily Planet Daily News According to official news, Animoca Brands announced the completion of a $10 million financing for its Mocaverse, with participation from OKX Ventures, CMCC Global, Hong Shan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital, and others. Previously, it had already raised $31.88 million in financing. The new funds will accelerate user goals for large-scale adoption and interoperability in Web3, specifically by continuing to expand and build Mocaverse, which serves as an interoperable infrastructure layer for consumer adoption of cryptocurrency accounts, identities, and reputation systems. This includes the Realm SDK, an interoperable software development kit (SDK) that allows partners to create their own reputation-based ecosystems and provide corresponding application experiences that can interoperate with all ecosystems built on the Moca Network. Additionally, this investment comes with a free warrant for a utility token, MOCA, with an FDV of $1 billion.
BNBChain received a $10 million credit investment from Google Cloud, which will be used for the MVB project construction.
Odaily Planet Daily News BNBChain today announced that it has received a $10 million investment in cloud service credits from Google Cloud to support the development of MVB projects within its ecosystem. Through this collaboration, over 40 projects under BNBChain's "Most Valuable Builder" (MVB) program will each be eligible to apply for up to $350,000 in Google Cloud credits, primarily for AI and cloud computing-related project development. Additionally, other directions also have the opportunity to receive $200,000 in credits for a period of 2 years. The MVB (Most Valuable Builder) program is an accelerator project jointly launched by BNBChain in collaboration with Binance Labs and CMC Labs, focusing on supporting early developers in Web3. Currently, the project has entered its eighth phase, with BNBChain providing full-chain support including initial hackathon activities, mid-term incubation, and later market and business resources. This investment from Google Cloud will help developers in the MVB program gain more resources and better promote large-scale applications in the crypto world.
Based on Solana, BetHog completed $6 million in seed round financing, led by 6 MV.
Odaily Planet Daily News Cryptocurrency sports betting platform BetHog announced the completion of $6 million in seed round financing, led by 6 MV, with participants including Will Ventures, Bullpen Capital, etc. BetHog was co-founded by FanDuel co-founders Nigel Eccles and Rob Jones, and the platform is built on the Solana blockchain, with SOL as the supporting token for PvP games. In addition, BetHog also supports betting on Bitcoin, Ethereum, and USDT. BetHog includes original games like HODL (a crash game for memecoins) and Thermonuclear Boars (a mines game), as well as innovative PvP gameplay where users can play games with well-known streamers. (TheBlock)
Web3 AI company Eidon completed $3.5 million in seed round financing, led by Framework Ventures.
Odaily Planet Daily News Web3 AI company Eidon completed $3.5 million in seed round financing, led by Framework Ventures, with participation from cyber.Fund. Eidon incentivizes users to provide data for training AI models, with the ultimate goal of creating a decentralized AI network, with the first network version expected to be launched on November 12. (TheBlock)
Brazilian blockchain startup Multiledgers completed $1 million financing, led by Indicator Capital, etc.
Odaily Planet Daily News Brazilian blockchain startup Multiledgers announced the completion of a new round of financing of $1 million, led by Oxygea Ventures and Indicator Capital (investing $475,000 respectively), with Koyamaki Ventures participating (investing about $50,000). The company plans to use the new funds to help businesses create, manage, and integrate networks to manage and certify information and assets, with the primary use case being on-chain management of environmental certificates to ensure compliance.
iGaming platform Betski completed a $345,000 Pre-Seed round of financing
Odaily Planet Daily News iGaming platform Betski announced the completion of a $345,000 Pre-Seed round of financing, reportedly completed with a combination of 2% equity and 2.25% token supply, from early supporters in Panama and global participants, but specific investor information has not yet been disclosed. The new funds are intended to support the platform's ability to expand its marketing strategy, enhance its product offerings, and scale quickly. (cryptoslate)
OKX Ventures announced an investment in Corn, an Ethereum Layer 2 network developed for BTCfi.
Odaily Planet Daily News According to official news, OKX Ventures announced an investment in Corn, marking an important step in introducing Bitcoin applications into the Ethereum ecosystem. Corn is based on Arbitrum and integrates Coinbase's support, allowing BTC holders to easily access the Ethereum DeFi ecosystem. Corn maximizes Bitcoin's potential in a unique, secure, and sustainable way and has achieved multiple important milestones, such as becoming the first Ethereum L2 network to use hybrid tokenized Bitcoin (BTCN) as Gas fees, and also the first network to achieve Bitcoin security assurance through Babylon, supporting BTC LST liquidity.
People * Voices
CZ comments on the "Bitcoin is dead" statement: If you believe it, you can only blame yourself
Odaily Planet Daily News CZ commented on statements related to "Bitcoin is dead" saying, "If you believe any of that, then... blame yourself."
Arthur Hayes discloses the composition of his investment portfolio, including cryptocurrencies like Bitcoin and equity in cryptocurrency companies, gold, etc.
Odaily Planet Daily News BitMEX co-founder Arthur Hayes stated that the hierarchy of his investment portfolio starts with Bitcoin, followed by other cryptocurrencies and equity in cryptocurrency-related companies, then gold stored in the treasury, and finally stonks (note: a tech buzzword from 2021, exclaiming about the crazy movement of these stocks). He also mentioned that the U.S. spent $4 trillion to reduce the debt-to-nominal GDP ratio from 132% to 115%. Assuming the U.S. further reduces it to 70%, equivalent to the level in September 2008, linear extrapolation alone would mean needing to create $10.5 trillion in credit to achieve this deleveraging, which is the reason Bitcoin could reach $1 million.
Ethena founder: Bulls currently need to pay $66 million in funding fees every day.
Odaily Planet Daily News Ethena founder Guy Young stated on platform X that under the current market conditions, bulls need to pay $66 million in funding fees every day.
