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According to Cointelegraph, Galaxy Digital's research division projects that Bitcoin layer-2 (L2) networks could see approximately $47 billion in Bitcoin liquidity by 2030. This estimation comes as part of a broader analysis of the Bitcoin L2 ecosystem's growth, which has seen a significant increase in projects and venture capital investments. In its latest report, Galaxy Research highlighted the expansion of Bitcoin L2 ecosystems in 2024, noting a sevenfold increase in projects and around $447 million in venture capital investments to date. The report emphasized that venture funding in Bitcoin L2s has already reached $447 million, with 39% of these investments occurring in the first three quarters of 2024. Between January and September 2024, Bitcoin L2s secured $174 million in funding, with $105 million allocated to sidechains and $63 million to rollups. The second quarter of 2024 marked a pivotal shift, with Bitcoin L2s capturing 44% of all venture capital invested in layer-2s across the crypto industry. This period also saw a 159% increase in investments compared to the first quarter of 2024. Galaxy Research noted that traditional crypto venture capitalists, excluding Bitcoin-focused funds, had minimal exposure to the Bitcoin ecosystem before 2024. Previously, many firms viewed Bitcoin primarily as "digital gold," but the emergence of Bitcoin Ordinals and BRC-20 tokens in 2023 introduced new investment opportunities. Galaxy Digital anticipates that crypto venture capitalists will continue to invest in Bitcoin L2s as the ecosystem matures. The report suggests that as the Bitcoin L2 ecosystem develops, approximately $47 billion in Bitcoin could flow into the L2 ecosystem by 2030. This influx is expected as Bitcoin holders seek yield opportunities for their assets. Galaxy's report further elaborates that if Bitcoin reaches $100,000 by 2030, the total addressable market for Bitcoin L2s could reach up to $47 billion, assuming 2.3% of the total Bitcoin supply is locked in Bitcoin L2s by that time. Despite the rapid expansion of the ecosystem, Galaxy researchers predict that only a few players, between three and five, will dominate the market among the 75 builders currently involved in the space. This projection underscores the competitive nature of the Bitcoin L2 landscape as it continues to evolve and attract significant investment.

According to Odaily, market reports indicate that hedge fund Two Sigma has implemented a 10% reduction in its workforce. This development comes amid the fund's ongoing involvement in the cryptocurrency sector. Previously, it was reported that Two Sigma Investments holds 458 Bitcoin and has acquired an additional 428 Bitcoin this quarter. The fund maintains several cryptocurrency investment portfolios, which include digital asset trading company Crossover Markets and crypto trading platform Membrane Labs, among others. The decision to cut jobs reflects broader trends in the financial industry, where firms are adjusting their strategies in response to market conditions. Two Sigma's continued investment in digital assets highlights the growing interest and potential seen in the cryptocurrency market, despite the challenges faced by traditional financial institutions. As the landscape of digital finance evolves, Two Sigma's actions may signal a strategic shift towards embracing emerging technologies and opportunities within the crypto space. The fund's commitment to expanding its crypto portfolio suggests a long-term vision for integrating digital assets into its investment strategy.

On Nov 21, 2024, 12:43 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,300 USDT benchmark and is now trading at 3,312.899902 USDT, with a narrowed 7.18% increase in 24 hours.

On Nov 21, 2024, 12:29 PM(UTC). According to Binance Market Data, BNB has crossed the 620 USDT benchmark and is now trading at 620 USDT, with a narrowed 1.40% increase in 24 hours.

According to Odaily, monitoring by CertiK Alert has revealed that the attacker behind the Polterfinance incident has transferred a total of 2600 ETH to Tornado.Cash since November 19. This development highlights ongoing concerns about the use of privacy-focused platforms in facilitating the movement of potentially illicit funds. The transfer of such a significant amount of Ethereum to Tornado.Cash, a platform known for its privacy features, underscores the challenges faced by authorities in tracking and recovering stolen assets. Tornado.Cash allows users to obfuscate the origin and destination of their cryptocurrency transactions, making it a popular choice for those seeking to maintain anonymity. This incident adds to the growing list of security breaches and exploits in the cryptocurrency space, raising questions about the effectiveness of current security measures and the need for enhanced protocols to protect digital assets. As the investigation continues, stakeholders in the cryptocurrency industry are urged to remain vigilant and prioritize security to prevent similar occurrences in the future.

According to Foresight News, recent data from Suiscan indicates that the Sui network has successfully resumed block production. This development follows a period of downtime that affected the network's operations. The official confirmation of the network's recovery was also made by Suiet, the Sui ecosystem wallet, on platform X. The restoration of block production marks a significant step in stabilizing the Sui network, which had experienced disruptions impacting its functionality. The network's recovery is crucial for maintaining the integrity and reliability of transactions and operations within the Sui ecosystem. Users and stakeholders had been awaiting updates on the network's status, and the confirmation from Suiet provides reassurance of the network's operational stability. The Sui network's ability to resume block production is a positive sign for its users and the broader blockchain community. It underscores the resilience and adaptability of the network's infrastructure in addressing and overcoming technical challenges. As the network continues to stabilize, stakeholders will be monitoring its performance closely to ensure sustained reliability and efficiency in its operations.

On Nov 21, 2024, 12:13 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,200 USDT benchmark and is now trading at 3,206.590088 USDT, with a narrowed 3.77% increase in 24 hours.

According to PANews, a recent transaction by a swing trader has been observed by on-chain analyst Yu Jin. The trader sold 10,567.3 ETH at an average price of $3,137, which was purchased two days earlier at $3,120. This transaction, valued at approximately $33.15 million, resulted in a modest profit of $180,000. This trade marks the 17th round of transactions for the trader, who has achieved 14 wins and 3 losses so far. The trader's strategy appears to focus on short-term gains, leveraging small price fluctuations in the Ethereum market to secure profits. Despite the relatively small profit margin in this instance, the trader's overall performance remains positive, demonstrating a successful approach to swing trading in the volatile cryptocurrency market.

According to Odaily, Nvidia, a leading manufacturer of artificial intelligence chips, experienced a decline in its stock value during after-hours trading on Wednesday and pre-market trading on Thursday. This trend highlights a shift in investor focus towards detailed aspects of the company's performance rather than the broader picture. AJ Bell analyst Dan Coatsworth commented on this development, noting that as investors delve deeper into a company's operations, their demand for detailed information naturally increases. This evolution in investor behavior is evident as they express concerns over Nvidia's declining gross margins. The company's guidance indicates that these margins are expected to decrease further in the current quarter, coupled with revenue forecasts that have fallen short of expectations. These factors have contributed to the unease among investors, who are now scrutinizing Nvidia's financial health more closely. The focus on specific financial metrics, such as gross margins and revenue projections, underscores the importance of detailed financial analysis in shaping investor sentiment. As Nvidia navigates these challenges, the company's ability to address investor concerns and provide clarity on its financial outlook will be crucial in stabilizing its stock performance.

According to Odaily, the dollar has experienced an increase following the U.S. presidential election, and it is anticipated to continue trading within a higher range. Analysts at ING, including Chris Turner, have indicated in a report that the market is preparing for a potential second term for President Trump. As a result, expectations for a Federal Reserve rate cut in December have diminished. Turner noted that the economic developments in overseas markets are "far from encouraging." He also mentioned that U.S. economic data, including initial jobless claims, is unlikely to significantly impact the market. Consequently, the dollar index is expected to maintain its position within the new range of 106-107. This outlook reflects the current market sentiment and the anticipated economic conditions in the near future.

According to PANews, Enlivex Therapeutics Ltd., a publicly traded company in the United States, has announced its board's approval to purchase up to $1 million in Bitcoin. This decision is part of the company's cash management strategy. Oren Hershkovitz, the CEO of Enlivex, highlighted the growing demand for Bitcoin and its increasing acceptance as a recognized medium of exchange. He expressed confidence that Bitcoin would become a strong and diversified reserve asset for the company. Hershkovitz also noted that the recent approval of Bitcoin ETFs and the rising support from institutional investors could provide Enlivex with a potential functional store of value and a hedge against inflation of standard currencies. Enlivex is described as a clinical-stage company specializing in macrophage reprogramming immunotherapy. The company's strategic move to invest in Bitcoin reflects a broader trend among businesses seeking to diversify their asset portfolios and leverage the potential benefits of cryptocurrency investments. This decision aligns with the increasing institutional interest in Bitcoin as a viable financial asset, driven by its potential to offer both value storage and inflation protection. The company's approach underscores the evolving landscape of corporate finance, where digital currencies are gaining traction as part of comprehensive financial strategies.

According to Foresight News, data from Suiscan indicates that the Sui mainnet has experienced a halt in block production for two hours. The most recent transaction was recorded at block height 82,174,771 at 17:15 UTC+8 today. This pause in block production has raised concerns among users and developers who rely on the Sui network for various blockchain activities. The interruption could potentially impact ongoing transactions and the overall performance of the network. As the Sui mainnet is a critical infrastructure for decentralized applications and smart contracts, any disruption can have significant implications for its users. The cause of the halt is currently under investigation, and the Sui development team is expected to provide updates as they work to resolve the issue. Users are advised to monitor official channels for further information and to exercise caution when conducting transactions on the network until normal operations resume.

According to Odaily, the Sui Network has been experiencing an outage that has lasted nearly two hours, as monitored by Lookonchain. The disruption has raised concerns among users and stakeholders who rely on the network for various operations. The cause of the outage remains unclear, and there has been no official statement from the network's operators regarding the issue or its resolution. The prolonged downtime has sparked discussions within the community about the network's reliability and the potential impact on ongoing transactions and projects. Users are advised to stay informed through official channels for updates on the situation. As the outage continues, the focus remains on restoring normal operations and ensuring the stability of the network moving forward.

On Nov 21, 2024, 11:07 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 98,000 USDT benchmark and is now trading at 98,080.007813 USDT, with a narrowed 5.32% increase in 24 hours.

According to BlockBeats, on November 21, the Sui Network experienced an outage, resulting in no blocks being produced for over an hour. This incident appears to have impacted the market, as the price of SUI saw a sharp decline of over 5% in a short period. At the time of reporting, SUI was trading at approximately $3.378.The unexpected downtime of the Sui Network has raised concerns among investors and users, as network stability is crucial for maintaining confidence in blockchain platforms. The outage highlights the importance of robust infrastructure and reliable performance in the rapidly evolving cryptocurrency landscape. As the market reacts to such events, the volatility of digital assets like SUI can be significantly affected, underscoring the need for continuous monitoring and improvements in network operations.

According to Foresight News, data from Suiscan indicates that the Sui blockchain may have experienced an outage. The most recent block was produced 1 hour and 4 minutes ago, suggesting a potential disruption in the network's operations. The Sui blockchain, known for its innovative approach to decentralized technology, has been a significant player in the blockchain space. However, this suspected outage raises concerns about the network's reliability and stability. The delay in block production could impact various stakeholders, including developers, users, and investors who rely on the blockchain for transactions and smart contract executions. While the exact cause of the suspected outage remains unclear, such incidents highlight the challenges faced by blockchain networks in maintaining continuous and seamless operations. As the blockchain industry continues to grow, ensuring network stability and addressing technical issues promptly are crucial for maintaining user trust and confidence. The Sui blockchain team is likely investigating the situation to identify the root cause and implement necessary measures to prevent future occurrences. Stakeholders are advised to stay informed through official channels for updates on the network's status and any potential resolutions.

According to CoinMarketCap data, the global crypto market cap is $3.19T, a 2.93% increase over the last dayBitcoin (BTC) traded between $92,808 and $97,852 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $97,424, up by 4.42%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include TROY, CTXC, and DGB, up by 56%, 27%, and 23%, respectively.Top stories of the day:Binance Dominates as Crypto Trading Volumes Surge Amid Bitcoin’s ATH and Market OptimismBitcoin ETFs Surpass $100 Billion in Assets Amid Record HighsBitcoin Open Interest Reaches New HighsEthereum Spot ETF in the U.S. Sees Significant OutflowNVIDIA and MicroStrategy See Significant Trading VolumeBitcoin Market Dominance Reaches Highest Level Since 2021 European Central Bank Predicts Inflation Rate to Remain at 2% by Early 2025 Cryptocurrency Market Remains in Extreme Greed State Bhutan's Bitcoin Holdings Reach Significant GDP Proportion Bitcoin Mining Progress: 95% of Blocks to Be Mined by November 2025Market movers:ETH: $3128.31 (+0.18%)SOL: $242.74 (+2.41%)BNB: $611.28 (-0.13%)XRP: $1.1294 (+2.22%)DOGE: $0.38423 (-1.98%)ADA: $0.7839 (-6.44%)TRX: $0.1987 (+0.25%)WBTC: $97162.91 (+4.35%)SHIB: $0.00002402 (-2.24%)TON: $5.482 (+0.75%)

The cryptocurrency market has entered a bullish phase, fueled by key events like Bitcoin’s new all-time high of $94,000, the U.S. presidential election, and the growing integration of crypto assets into mainstream financial systems. Binance has emerged as a dominant force, outperforming traditional stock exchanges and cementing its position as a leader in crypto trading.Crypto Assets Go MainstreamData from October 7 to November 15, 2024, reveals significant trends in trading volumes:Binance: Total trading volume (spot + derivatives) was 10% higher than Nasdaq and twice the New York Stock Exchange (NYSE).Global Market Share: Binance accounts for approximately 50% of all centralized exchange (CEX) trading volume, demonstrating its unparalleled influence.This data underscores how cryptocurrencies are moving from niche markets into the financial mainstream, challenging traditional equity markets in liquidity and trading activity.Spot Trading Leads the WayDespite the rise of Bitcoin ETFs, spot trading continues to dominate:Binance’s Bitcoin spot trading volume is 4.5 times the combined volume of all Bitcoin ETFs.Market Concentration: Binance’s trading volume is seven times larger than Coinbase’s and equal to the next 14 competitors combined, showcasing its market dominance.The preference for spot trading highlights its superior liquidity and accessibility, attracting both retail investors and institutional traders. Binance remains pivotal for Bitcoin price discovery and liquidity.USDT Inflows Signal Market ConfidenceDuring the U.S. presidential election week, inflows of Tether (USDT) into centralized exchanges exceeded $20 billion, marking strong market liquidity:Binance: Led the inflows with $7.7 billion (39% market share).Tether’s Market Cap: Hit a record high of $128 billion, reflecting robust demand for crypto assets.With unmatched trading volumes, significant USDT inflows, and dominance in the spot trading market, Binance continues to lead the cryptocurrency industry. As institutional interest grows and Bitcoin ETFs evolve, Binance’s role in shaping market dynamics remains critical.

According to Foresight News, UBS and Deutsche Bank have announced their participation in a trial conducted by the European Central Bank (ECB) to explore the use of distributed ledger technology (DLT) for wholesale settlement. As part of this initiative, the two banks simulated tokenized deposit payments between financial institutions. The trial utilized the Bundesbank's Trigger solution, which enables blockchain-based systems to connect with the Trigger Chain, facilitating payments in central bank money through the Target2 payment system.In the context of tokenized deposits, the process involves the destruction of tokens on the sending blockchain and their minting at the receiving bank. The trial included two separate experiments. The first focused on time-sensitive euro payments, highlighting the potential for DLT to enhance efficiency and speed in financial transactions. The second experiment simulated transactions between Deutsche Bank's London branch and UBS in Switzerland, involving the exchange of British pounds and Swiss francs, with settlements conducted in euros.These trials represent a significant step in exploring the integration of blockchain technology into traditional banking systems. By simulating real-world scenarios, the banks aim to assess the feasibility and benefits of using DLT for cross-border payments and settlements. The experiments underscore the growing interest among financial institutions in leveraging blockchain to improve transaction processes, reduce costs, and enhance security.The ECB's initiative reflects a broader trend in the financial industry towards embracing digital innovations. As central banks and financial institutions continue to explore the potential of DLT, these trials provide valuable insights into the practical applications of blockchain technology in the banking sector. The successful execution of these simulations could pave the way for further adoption of DLT in wholesale banking operations, potentially transforming the landscape of international finance.

According to Odaily, the UK's Finance Minister, Tulip Siddiq, has confirmed plans to issue pilot digital gilt bonds using distributed ledger technology (DLT). These digital bonds are equivalent to UK government bonds. Siddiq noted that this pilot initiative will be part of a digital securities sandbox but will not fall under the jurisdiction of the Debt Management Office (DMO), which is responsible for all gilt and treasury bill operations.Prior to this announcement, reports from the Financial Times indicated that despite opposition from the DMO, Siddiq is determined to advance the digital gilt bonds initiative, known as DIGIT. The report cited a former minister and several department officials who mentioned that the DMO is resisting this move. The introduction of DIGIT represents a significant step in the UK's exploration of digital securities, aiming to leverage the benefits of DLT in government bond issuance.