GM20241111

1) Market Trends

BTC surged to a new high of 80,000, but BTC's dominance rate plummeted. The altcoin season has arrived, and old coins are catching up.

The US stock market is closed on Monday. The Federal Reserve's interest rate cuts are expected to continue until July 2026. Based on previous rate hike cycles ending six months early, a bull market is likely to last until the end of 2025.

2) Market Highlights:

1. The public chain ETH rose, and the DeFi sector, including TRB, ALPACA, YFI, and other old coins, saw significant gains. The market anticipates Trump's return to power, leading to relaxed DeFi regulations.

2. Memes like DOGE, SHIB, NEIRO, MOODENG, GOAT, and PIPPIN surged. Musk's political fan coin is the main storyline, with DOGE's market cap reaching 40 billion USD, accounting for about half of all memes. Only 20% of the top 500 meme coins outperformed DOGE. Among them, NEIRO is market-making by BN, while MOODENG and GOAT are market-making by Wintermute.

3. The new public chain SUI soared to a new high, with a market cap approaching 30% of SOL, fitting the characteristics of the second-tier dragon.

4. Old coins like ADA and EOS are catching up. The founder of ADA may become Trump's crypto advisor. Oversold TON ecosystem coins like X and HMSTR are also catching up, with the game clicker X rising 20 times in a week. The TON ecosystem is primarily market-made by DWF.