PANews, news on November 5: Due to the U.S. elections and daylight saving time, the Federal Reserve will announce its interest rate decision at 3:00 AM Beijing time on November 8 (Friday). Traditionally, the Federal Reserve holds its monetary policy meetings on Tuesdays and Wednesdays and announces its decisions on Thursday mornings, but this time it has been delayed by one day due to the U.S. election voting. The voting for the 2024 U.S. elections will begin at 1:00 PM Beijing time on November 5 (Tuesday).

PANews, November 5th news, according to SoSoValue data, yesterday (Eastern Time November 4th), the Ethereum spot ETF experienced a total net outflow of $63.2238 million. Among them, the Grayscale Ethereum Trust ETF (ETHE) had a single-day net outflow of $10.8 million, with a historical cumulative net outflow reaching $3.142 billion; the Grayscale Ethereum Mini Trust ETF (ETH) had a single-day net outflow of $31.9382 million, with a historical net inflow of $271 million. The BlackRock Ethereum ETF (ETHA) achieved a single-day net inflow of $11.0148 million, with a historical total net inflow of $1.354 billion.

As of the time of publication, the total net asset value of the Ethereum spot ETF is $6.625 billion, with a market capitalization ratio of 2.27%, and a historical cumulative net outflow of $555 million.

PANews November 5 news, according to SoSoValue data, yesterday (Eastern Time November 4), the total net outflow of Bitcoin spot ETFs was $541 million. Among them, the Grayscale Bitcoin Trust ETF (GBTC) had a single-day net outflow of $63.664 million, with a historical cumulative net outflow of $20.226 billion; the Grayscale Bitcoin Mini Trust ETF (BTC) had a single-day net outflow of $89.4885 million, with a historical total net inflow of $413 million. The BlackRock Bitcoin ETF (IBIT) achieved a single-day net inflow of $38.422 million, with a historical total net inflow of $26.174 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs was $67.441 billion, accounting for 5.06% of the market value, with a historical cumulative net inflow of $23.614 billion.

PANews, November 5 - According to Caixin, November 5 is the official voting day for the U.S. presidential election. Just after midnight Eastern Time on November 5, voters in the small town of Dixville Notch, New Hampshire, were the first to cast their votes, marking the official start of the 60th U.S. presidential election voting. On that day, the vast majority of polling stations across the country opened in the morning and remained open until the evening of the 5th. According to data from the University of Florida's Election Lab, as of the morning of November 4, more than 78.02 million voters across the country had already voted early. The candidates for this U.S. presidential election are Democratic candidate and current Vice President Kamala Harris and Republican candidate and former President Donald Trump. U.S. media generally believe that the 2024 election is one of the most closely contested presidential elections in recent years.

PANews, November 5, reports that the city of Lugano, Switzerland, has issued its third digital bond through the SIX Digital Exchange (SDX), amounting to 120 million Swiss francs (approximately 139 million USD), with a term of 9 years and a coupon rate of 1.00%. This bond is settled using wholesale central bank digital currency (wCBDC), representing an important innovative attempt by Lugano under the Swiss National Bank's Helvetia III project, further solidifying its leading position in the application of blockchain and DLT technologies.

PANews reported on November 5 that according to Coingape, Coinbase has won a major victory in the Freedom of Information Act (FOIA) lawsuit against the U.S. Federal Deposit Insurance Corporation (FDIC). Coinbase Chief Legal Officer Paul Grewal announced that the judge has ordered the FDIC to make public the "Operation Chokepoint 2.0" suspension letters, which are used to instruct banks to stop providing cryptocurrency-related services. Grewal said the move is an important step in promoting regulatory transparency.

Coinbase has submitted multiple FOIA requests in an attempt to force regulators to take a stance on crypto policy and clarify their attitude towards digital assets. Previously, the FDIC had required banks to limit deposits from crypto companies to 15% of total deposits, but without a public comment period, which aroused widespread concern.

PANews, November 5, reported by Caixin, that Binance founder Zhao Changpeng (CZ) stated at the second Gulf Investment Forum in Bahrain on November 3 that Bahrain, as one of the cryptocurrency-friendly countries, may not be well-known, but it has become an important location for Binance. After obtaining a license as a crypto asset service provider from the Central Bank of Bahrain (CBB), Binance also acquired a banking license and opened local fiat currency inflow and outflow channels.

In addition, Zhao Changpeng mentioned the exploration of real-world assets (RWA) in the Hong Kong market, but due to the limited price volatility of RWAs and the limited liquidity in the secondary market, innovative use cases are needed to enhance liquidity. He expressed optimism about investment opportunities in the Middle East, stating that besides blockchain, Binance is also expanding into AI and biotechnology in the Gulf Cooperation Council countries.

Written by: Maia, BeWater Venture Studio

TL; DR

In terms of the issuance and application of BTC-pegged assets, centralized wrapped BTC still dominates with over 75% market share. However, in recent months, BTC LSTs represented by LBTC and SolvBTC.BBN have rapidly grown alongside the launch of Babylon, becoming another emerging force in the BTC-pegged asset market, currently reaching a market size of 25.6K BTC. Driven by the demand for yield from underlying assets, BTC liquidity staking and points derivation market are gradually becoming new growth points in the BTCFi field.

PANews November 5 news, according to Bitfarms' latest announcement, the company mined 236 BTC in October 2024, a month-on-month increase of 9%, but a year-on-year decrease of 41%. In that month, 194 BTC were sold, generating $13 million in revenue, increasing Bitcoin holdings from 1,147 to 1,188. Bitfarms' computing power reached 11.5 EH/s this month, a year-on-year increase of 83%. In addition, the hosting agreement between Bitfarms and Stronghold Digital Mining will deploy a total of 20,000 mining machines, supporting approximately 4 EH/s of computing power, expected to go online in batches over the next few months.

PANews, November 5 news, according to the official announcement from P2P.org, its "Operator Allocation Share Plan" has now come into effect, and eligible ETH and EIGEN delegators can claim ETH rewards on the platform. The total reward amounts to 828.08 ETH, approximately 2.2 million USD. P2P.org stated that 25% of the rewards will be specifically reserved for long-term ETH and EIGEN re-staking users as well as community members who have used its dApp, demonstrating a commitment to loyal users. Users can visit the claim page through the official link.

PANews reported on November 5, according to Video Games Chronicle, that Ubisoft's recently launched NFT role-playing game (Champions Tactics: Grimoria Chronicles) has encountered a major exploit, allowing one player to achieve 'automatic victory' through unknown means, preventing other players from properly participating in ranked matches. This player (nicknamed Schilleri11 or Paulstar111) automatically wins every online match, with the leaderboard showing he has played over 56,000 matches.

Affected players have complained on the Discord server that every time they match with this player, they lose the game unconditionally, causing the game to be unplayable. The game's Discord administrator has stated that the team is aware of the issue and has banned the player, but some players report that the account is still active. Ubisoft is working to fix the exploit, but the incident has sparked strong dissatisfaction among players regarding the game's stability.

PANews, November 5 - According to an official announcement from Swell, the $SWELL token will soon be launched, and users can claim it on November 7 through a designated link.

PANews November 5th news, Bitcoin mining company Cipher Mining released its unaudited production and operational update report for October 2024, which disclosed that its Bitcoin mining output last month was 168 BTC, it sold 248 BTC, and its end-of-month balance was approximately 1,428 BTC, with 77,000 mining devices deployed.

PANews reported on November 5 that, according to Protos, Telegram's 'earn points' game Hamster Kombat, which had 300 million users in August, has seen its monthly active users sharply drop to about 41 million, with over 260 million players lost. The game's token HMSTR plummeted 76% from its peak of $0.009993 on September 26, and is now priced at only $0.002392.

Although the Telegram CEO once called it the 'fastest-growing digital service in the world', the rough AI graphics and dull gameplay failed to retain players. The game frequently delayed airdrops and implemented strict anti-cheat systems, resulting in 2.3 million users being banned and 6.8 billion HMSTR tokens being confiscated. Additionally, Hamster Kombat has faced criticism from the Iranian and Russian governments, which believe it has a negative impact on society.

PANews reported on November 5 that according to Cryptopolitan, on the decentralized prediction market Polymarket, Trump's chances of winning the election plummeted due to a large account "larpas" selling $3 million of Trump contracts, and then rebounded slightly to 58.1%. This large-scale sell-off coincided with the crypto analyst GCR announcing on Twitter that he had cashed in on the Trump bet profit, causing panic among traders. GCR has been bullish on Trump since 2021, and this profit-taking has attracted widespread attention in the market.

In addition, another big bettor "Théo" has invested more than $30 million on Trump's victory, betting on him to win the electoral college votes and even the popular vote. Théo said that his trading was motivated by money rather than political purposes, and believed that the polls underestimated Trump's supporters.

Author: Biteye Core Contributor Viee

Editor: Biteye Core Contributor Crush

Recently, the discussion on chain abstraction has become a hot topic in both Chinese and English communities, and the founders of projects such as Uniswap and Safe have also expressed their views on this issue. Biteye, in combination with researcher @HelloLydia13's series of articles on chain abstraction, summarizes the nine misunderstandings surrounding chain abstraction at present.

https://x.com/HelloLydia13

Before we start the main text, let's define chain abstraction in one sentence - a user experience that is free from the manual interaction with multiple chains.

01. Chain abstraction = cross-chain bridge?

Chain abstraction and cross-chain bridges have completely different underlying logics.

PANews, November 5 news, according to The Block data, the spot trading volume of decentralized exchanges (DEX) has significantly increased compared to centralized exchanges (CEX) over the past few months. It climbed from about 10% in August this year to 22.53% in November, indicating substantial growth in DEX trading volume. Moreover, this growth has been even more pronounced in the past 30 days, with DEX trading volume surging by approximately 50%.

hitesh.eth stated that the appeal of traditional CEX platforms like Binance and Coinbase seems to be waning, in contrast, more users are beginning to turn to DEX, which could be an important signal for the development of decentralized finance (DeFi).

PANews, November 5 - According to an announcement from the Uniswap Foundation, the Uniswap Foundation has announced a grant of $1.2 million to Atrium Academy to expand the Uniswap Hook Incubator (UHI) project and further support Ethereum v4 hooks development. The program will introduce four new developer training batches and a series of educational resources, including self-paced courses, step-by-step guides, weekly live events, etc., to provide more support for developers worldwide. Since its launch last year, UHI has attracted over 1,200 applicants and facilitated multiple innovative projects to receive venture capital support.

PANews November 5 news, according to Lookonchain monitoring, the whale "zxgngl" has once again withdrawn 3.1 million USDC to bet on Trump winning the US election. Since October 11, this address has withdrawn a total of 17.3 million USDC from Binance to bet on Trump’s victory.

A meeting has been held to deploy the pilot application of digital renminbi in Shanghai.

According to Jin10 reports, the Shanghai Financial Office announced that to implement the overall requirements of the 20th National Congress on 'steadily advancing the research and application of digital renminbi', the People's Bank of China has deployed pilot work for digital renminbi. Shanghai has formulated a new round of action plan for the pilot application of digital renminbi and held a work deployment meeting on November 4. The action plan clearly aims to further steadily promote innovations in digital renminbi applications and services, striving to basically form a digital renminbi ecosystem by the end of 2025 that has a wide range of scenarios, good payment service experience, rich innovative applications, and active participation from all parties.