Deribit and SignalPlus have announced the second edition of the Winter Trading Contest 2024. The contest offers a prize pool of 200,000 USDC and various prizes. Participants can participate in the contest by trading cryptocurrency options, futures, and spot with their Deribit accounts. Registration is open until December 9, 2024. The contest will run from November 4 to December 9, 2024. For more information, visit the official website.
In October, non-fungible token (NFT) trading volume increased by 18% after a seven-month decline. After peaking at $1.6 billion in March 2024, NFT volume fell to its lowest level since 2021 in September.
According to CryptoSlam data, NFT volume in September 2024 was around $300 million, down 20% from August. However, NFT sales volume in October increased by 18%, reaching $356 million.
NFT transactions also increased in October, with 7.2 million transactions, 42% more than September’s 5 million transactions. Weekly volumes also increased, with NFT sales exceeding $84 million between September 30 and October 6.
DMarket led with $33 million in sales on Mythos Chain. Guild of Guardians Heroes on Immutable came in second with $13 million. Bitcoin and Ethereum-based collectibles also saw strong volumes.
Solana-based NFTs have also performed well. DogeZuki, Froganas, and Retardio Cousins collections generated around $25 million in sales in October. Solana-based NFTs accounted for 19% of total NFT volume with $67 million in 30-day volume, bringing Solana’s total NFT volume close to $6 billion.
Bitcoin has surpassed a historic high of $100,000. WonderFi CEO Dean Skurka said that interest rate cuts in Canada and the US and the 2024 US presidential elections could push the price of Bitcoin even higher in the next 6-24 months.
Skurka said that the Bank of Canada's 50 basis point interest rate cut and the US Federal Reserve's interest rate cut program launched in September 2024 could attract retail and institutional investors to the market or increase their existing investments.
Stating that the interest rate cuts indicate a broader change in global monetary policy, Skurka said that this situation would create an attractive opportunity for the expansion of the digital asset ecosystem and the revival of retail excitement.
In addition, Skurka emphasized that the 2024 US presidential elections are also an important factor for the price of Bitcoin, and stated that Trump's presidency is positive for crypto, while Harris' victory could lead to short-term market fluctuations.
Skurka predicted that in the long run, regardless of the election result, US regulatory policies could change positively under pressure from crypto advocacy groups, and that a very positive environment would be created for Bitcoin's growth.
In October, non-fungible token (NFT) trading volume rose by 18%, reversing a seven-month decline.
In March, NFT monthly volume reached $1.6 billion, the highest level in 2024. In September, it fell to $300 million, the lowest level since 2021.
According to CryptoSlam, NFT sales volume increased by 18% in October to $356 million. The number of transactions also increased by 42% to 7.2 million.
DMarket led the way with $33 million in sales on Mythos Chain. Solana-based NFTs attracted attention with $67 million in volume, bringing Solana’s total volume close to $6 billion.
Bitcoin (BTC) rebounded from below $69,000 on November 1. The US nonfarm payrolls report sent a volatile note on the dollar as it added 12,000 jobs, lower than expected.
- September and August revisions were reduced by 31,000 and 81,000 jobs, respectively. - The unemployment rate remained at 4.1%, in line with expectations. - Kobeissi Letter predicted that the Fed could cut interest rates by 0.25% at its November 7 meeting, citing a weak labor market.
The US Dollar Index (DXY) fell to 103.6 after the report. Bitcoin rose 1.6% to surpass $71,000 after a volatile close in October.
21Shares has filed for approval with the U.S. Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF).
- 21Shares filed Form S-1 for Core XRP Trust shares on Nov. 1 and proposes to list them on the Cboe BZX Exchange. - The trust will offer investors indirect, rather than direct, access to XRP. - If approved, Coinbase Custody Trust Company will be the custodian of the trust’s XRP holdings.
The SEC approved spot Bitcoin and Ether ETFs in 2024 but has yet to respond to XRP filings.
- According to a Nov. 1 report by the Wall Street Journal, a French citizen was identified using Polymarket accounts to place large bets on Donald Trump winning the 2024 U.S. presidential election. - The man, known as "Théo," placed about $38 million on Trump's election victory. - There are $2.9 billion in bets on either Trump or Kamala Harris on Polymarket. Trump currently leads by 60.3%. - "I just want to make money, I don't have a political agenda," Théo told the WSJ. - Polymarket allows users outside the U.S. to place bets, allowing foreign participants to sway the odds in their favor. - The election results could take days to be announced.
Midnight Evergreen Technologies, Inc. has introduced a new game publishing platform, The Evergreen. This platform is designed as a decomposed MMORPG that connects multiple game worlds. Their first game, Midnight Market, will be available on Web, Mobile, and Telegram. Midnight, in partnership with the Aptos Foundation, offers a blockchain-based economy that provides players with high speed and security. The game will be available globally on November 13th.