📰 Blockchain Morning Report - November 27, 2024 📷 Exclusive interpretation of the latest developments in the crypto space, not to be missed!
1⃣ Market Dynamics
📈Bitcoin ($BTC): Bitcoin is fluctuating at a high level, with prices nearing a drop below $90,000. Investor sentiment has shifted from optimism about $100,000 to expectations of $80,000. CryptoQuant data shows long-term holders sold 728,000 BTC over the past 30 days, the highest sell-off since April.
📊Ethereum ($ETH): $ETH shows lackluster performance, the Ethereum Foundation is selling through associated addresses, indicating potential internal pressure.
🚀Solana ($SOL): Despite the impact of @pumpdotfun's sell-off, $SOL continues to rise, market enthusiasm remains high.
🌟BinanceCoin ($BNB): CZ clearly supports application projects on BNBChain, launching minidex, bringing positive news to $LISTA, $CAKE, $BNB.
🌈Base Ecosystem: The Base ecosystem shows outstanding performance, especially @virtuals_io and @clanker, worth paying attention to.
2⃣ Industry Hotspots
💡TornadoCash: A US court ruled that sanctions against TornadoCash were illegal, benefiting privacy coin $TOIN, but trading on major exchanges is restricted, only available through Uniswap.
📣BitwiseETP: The NYSE applies to the SEC for listing Bitwise Bitcoin and Ethereum spot ETP, showing further acceptance of cryptocurrencies in mainstream financial markets.
😃Fear and Greed Index: Today's index is 75, shifting from extreme greed to greed.
💸Trading Volume: Yesterday, the total trading volume of Bitcoin spot ETF in the US exceeded $5 billion.
🤑Pantera Bitcoin Fund: Return rate exceeds 1000 times, currently reaching 131,165%.
3⃣ Industry Trends
🔍Federal Reserve Policy: Federal Reserve meeting minutes indicate a future tendency towards “gradual” interest rate cuts, but there may be a pause. At the same time, considering reducing the reverse repurchase rate by 5 basis points.
📋Trump Administration Policy: Plans to expand CFTC authority to restructure cryptocurrency regulation, Justin Sun hired as an advisor for the Trump-supported crypto project WLFI.
🇧🇷Brazil Bitcoin Bill: Brazilian legislators propose allocating 5% of national treasury reserves to Bitcoin.
⛏CipherMining: Announced acquisition of a new mining site in Texas and expansion agreement, showing confidence in Bitcoin mining.
🎁Grayscale Trust Fund: Opens private placements for qualified investors including trusts for 17 tokens such as SOL, SUI, XRP.
🚪KrakenNFT Market: Announced it will close its NFT market business on February 27, 2025.
