Bitcoin price hits a new all-time high again

On Wednesday, the price of Bitcoin surged to a new all-time high, just a day after setting a record. According to data, Bitcoin has first broken through the $95,000 mark, with trading volume close to $78 billion in the past 24 hours.

The main catalyst for this bullish trend is the launch of the first spot Bitcoin ETF product in the U.S. market—BlackRock's iShares Bitcoin Trust (IBIT) options trading. The new derivative contracts allow traders to bet on the price fluctuations and speed of changes in the fund shares.

On Tuesday, the contract saw a nominal trading volume of $1.9 billion on its first day of trading on Nasdaq, indicating strong market interest in this product.

In addition, there are several favorable factors behind this year’s Bitcoin rise, including the U.S. Securities and Exchange Commission (SEC) approving the first spot Bitcoin exchange-traded fund and the Republican victory in the presidential elections.

President-elect Donald Trump has promised to promote industry development through a series of policy measures, including establishing a domestic Bitcoin reserve.

Bitcoin price surpasses $93,500 to set a new high

The leading cryptocurrency Bitcoin (BTC) has once again broken its historical high. Earlier on Tuesday afternoon, the price of Bitcoin reached a new high of $93,521, with quotes on the Coinbase platform even higher, reaching $93,581. This milestone was achieved during a remarkable surge in Bitcoin following the re-election of pro-crypto candidate Donald Trump as President of the United States.


Market analysis and future expectations

According to data, just yesterday, the price of Bitcoin had just broken through the $93,500 mark and then further jumped above $94,000.

Analyst Valentin Fournier from trading firm BRN stated on Wednesday that this price movement confirms the company’s prediction of breaking the $100,000 target by the end of the year. “This confirms our argument about the accumulation phase before an explosion at the end of the year,” he wrote. “If this momentum continues, the price of Bitcoin could reach $120,000 before 2025, primarily benefiting from the increasing attention on its strong performance and long-term potential in the retail market since the U.S. presidential election.”

Personal virtual currency is personal property and is protected, but issuing financing is not allowed. So, does this count as issuing on meme launch platforms? For example, pump.fun?

CZ (Zhao Changpeng) shifted his focus to the field of education after being released. In the recent Binance Blockchain Week, he mentioned that he is currently concentrating on cryptocurrency, artificial intelligence (AI), biotechnology, and the educational project Giggle Academy. Recently, CZ shared the latest updates about Giggle Academy on Twitter.
 
 Giggle Academy Update: Open Access and New Features
CZ announced that Giggle Academy has transitioned from an invitation-only model to a permissionless open platform, allowing anyone to access the official website and download the APK file directly, with an iOS version also in development. Currently, the platform has launched some courses and a storybook, and CZ encourages everyone to experience it firsthand.
 
To enhance the creative experience, Giggle Academy has integrated AI-assisted features specifically for storybook creators, but it is currently limited to the web version. CZ emphasized that the short-term goal is to enable everyone to easily create storybooks. He also revealed that a storybook creation competition will be held in the future to bring more quality story content for children.
 
 Recruitment of AI Video Engineers
CZ stated that generating consistent and lengthy videos remains a significant challenge in the AI field. He is publicly recruiting professional engineers in the field of AI video generation and offering opportunities to collaborate with Giggle Academy to further expand the platform's technical capabilities.
 
 Creating a Learning and Growth Path for Disadvantaged Children
When discussing the motivation behind founding Giggle Academy, CZ mentioned that the team initially planned to serve 12-year-old children who had never attended school, but due to significant differences in their learning levels, they adjusted to start from 1st grade English. However, they found it more suitable to begin with early childhood education for children aged 2 to 5 and plan to grow alongside these children.
 
CZ expressed his willingness to invest in the project for many years, even up to 60 years. At the same time, he responded to user inquiries about personalized learning, stating that in the future, personalized plans will be developed based on each child's learning records. Currently, Giggle Academy's target group is children with limited learning resources, where parents may not be able to provide help, but this setting may still be adjusted according to actual needs.
 
The vision of Giggle Academy is to provide quality learning opportunities for more children worldwide through technology and education and to grow alongside them.

According to media reports citing sources, Trump Media & Technology Group, the social media company of US President-elect Trump, is in deep negotiations to acquire Bakkt, a cryptocurrency trading platform under Intercontinental Exchange (ICE).

Boosted by the news, as of the close of Monday, Bakkt's stock price soared 162.46%, with a market value of approximately $400 million, and Trump Media & Technology Group's stock price rose 16.65%, with a market value of $7.111 billion.

According to people familiar with the matter, Trump Media & Technology Group is close to reaching an all-stock acquisition agreement, and the price of the transaction is still unclear.

Bakkt was created by Intercontinental Exchange, which holds a 55% stake in the company.

Bakkt has previously stated that its cryptocurrency custody business (which has been licensed by New York regulators) may be closed. According to people familiar with the matter, the business will not be included in the transaction.

Bakkt's cryptocurrency custody business has been difficult to make a profit. The company's revenue in the third quarter of this year was $328,000 and its operating loss was $27,000.

Bakkt was at risk of being delisted from the New York Stock Exchange due to its low stock price until the company conducted a 1:25 reverse stock split in April this year.

Kelly Loeffler, CEO of Bakkt, served as a Republican senator from Georgia during Trump's first term. She is also the co-chair of the organizing committee for Trump's inauguration ceremony.

If the acquisition is successful, it will mark Trump's further entry into the cryptocurrency market. Trump has previously begun promoting a new cryptocurrency business founded by his long-term business partner World Liberty Financial, from which he can earn considerable fees.

Trump is in power, and crypto is really going to take off. Trump is awesome

At this time, the total community allocation of ME tokens is 12.5%, which is based on 125 million tokens on Solana, totaling approximately $312 million (according to pre-listing price indications from Whales Pro). In the presale market, the price of ME tokens is $2.50, and it has increased by 233% in the past 24 hours, with a trading volume of approximately $193,000. Following data from CoinGecko, this airdrop makes ME one of the top 20 largest cryptocurrency airdrops in history.
Regardless of the price of ME at the time of listing, Magic Eden users will receive one of the largest community airdrops of 2024. An announcement from the ME Foundation indicates that the Token Generation Event (TGE) is expected to be completed in a few weeks. The 12.5% allocation will be unlocked immediately, which is comparable to Magic Eden's competitor, the Solana NFT platform Tensor, and exceeds the 10% unlocked by the Solana DEX aggregator Jupiter in its community airdrop.
Additionally, another 225 million ME tokens will be allocated for future user airdrops. Magic Eden's CEO, Jack Lu, stated that users will be able to use ME tokens through their daily interactions with Magic Eden products in the future.
Although most users welcome the token airdrop plan, questions regarding how to convert existing point system diamonds to ME tokens remain unanswered. Several Twitter (now known as X) users are seeking specific details about this conversion, and Web3 community member Dfarmer urged Magic Eden to elaborate further on social media.
Since its initial launch as a Solana NFT platform, Magic Eden has expanded to multiple blockchains, including Bitcoin and Ethereum, and has processed over $1.12 billion in trading volume, maintaining a 33% market share within the platform.

What competition is sponsored by Binance? It seems to be a bare-knuckle fight?

Trump complains: Musk likes him so much that he can't be driven away, these two good friends👬

After studying the US stock market, it is expected to rise on Monday, which will drive Bitcoin to hit 100,000 next week

Trump nominated his chief lawyer as Deputy Attorney General of the United States, and nominated his private lawyer John Saul as Deputy Attorney General of the United States. When one person succeeds, everyone else will benefit!

Today, Binance announced that it will list Usual (USUAL) on Launchpool and Pre-Market. Pre-Market will be launched on November 19, 2024, and Launchpool will start on November 15.
The total supply of Usual is 4 billion, with an initial circulation of 12.37%, of which the Launchpool portion is 300,000,000, accounting for 7.5% of the total.
Unlike the highly volatile Meme coins, Usual is a stablecoin protocol. Its goal is to solve problems in the existing stablecoin market through decentralized control, bankruptcy isolation and innovative revenue distribution mechanisms.
Usual's core selling points:
Decentralized stablecoin: The issuance of Usual is controlled by the community to ensure the transparency and neutrality of the protocol. Bankruptcy isolation: Avoid traditional bank risks by linking to ultra-short-term bonds. Revenue distribution: Users can not only obtain stablecoin income, but also participate in the development of the protocol through governance tokens.
Core products:
USD0: A stablecoin based on US Treasury bonds that avoids systemic banking risks and is transparent and scalable. USD0++: An enhanced Treasury bond that provides double returns and allows users to participate in protocol governance through USUAL tokens. USUAL: A governance token that ensures the sustainable development of the protocol and provides returns through a staking mechanism.
Risks and Outlook:
Usual's innovative model has great market potential, but it also faces regulatory uncertainty, market education costs, and competition risks. Overall, Usual represents an important exploration of DeFi 2.0, and long-term investors can pay attention.
#Launchpool‬