In an era of rapid development of blockchain technology, more than $600 million in digital assets flowed into Solana [SOL] from other blockchain networks in October, with Ethereum [ETH] accounting for more than 90% of these transfers. This major move highlights Solana’s growing appeal as a scalable, low-cost alternative for decentralized finance (DeFi), NFTs, and other blockchain-based applications. As cross-chain interoperability becomes a top priority for users seeking access to a diverse ecosystem, Solana’s growing liquidity and project development indicate its growing competitive position. The question now is how this influx will shape Solana’s role in the cryptocurrency space.
The U.S. presidential election officially begins voting! Bitcoin and Dogecoin see short-term gains; what signals did Musk release?
Voting in the 2024 U.S. presidential election officially began, and on Tuesday (November 5), Bitcoin and Dogecoin saw short-term gains in Asia's afternoon session. A Pennsylvania judge ruled that Musk's practice of giving out $1 million daily can continue, and he released important interview content at the last minute before the election to defend Republican presidential candidate Trump, stimulating a rise in Trump's winning probability close to 60%. Just after midnight on November 5, Eastern Standard Time, voters in the small town of Dixville Notch, New Hampshire, were the first to cast their ballots, marking the official start of voting in the 60th U.S. presidential election.
11 Charts Interpreting the October Cryptocurrency Market: Most Indicators Rebound Sharply
For the cryptocurrency industry, the recently concluded October saw most indicators finally beginning to rebound, and this article will review the conditions of the cryptocurrency market over the past month with 11 charts. 1. In October, the total on-chain transaction volume of Bitcoin and Ethereum grew overall by 28.1%, reaching $420 billion, with the adjusted on-chain transaction volume of Bitcoin increasing by 32.1%, and Ethereum's increase at 20.9%.
2. In October, the on-chain transaction volume of stablecoins adjusted to increase by 8%, reaching $899 billion, while the issuance supply of stablecoins decreased by 0.7%, down to $149.3 billion, with USDT and USDC market shares at 79.5% and 16.9%, respectively.
Countdown to the U.S. Election and Federal Reserve Decision, Bull-Bear Game Intensifies
As the U.S. election countdown begins, the Federal Reserve's interest rate decision is about to be announced, and investors' risk appetite has significantly decreased, preparing for expected volatility.
Data shows that the Deribit Bitcoin volatility index has reached its highest level since the end of July. Similarly, the MOVE index, which tracks the implied volatility of U.S. Treasuries, rose to its highest level since October 2023 last Friday.
Fed Watch data shows that traders' expectations for an interest rate cut announcement at this week's Federal Reserve meeting stand at 98%. Following the meeting, Powell's speech will also be a focal point, as his statements will directly influence the market's expectations for future monetary policy and could trigger market volatility.
When Will XRP's Downward Trend End, Tron (TRX) Sees a 36% Rebound That Everyone Missed, Solana (SOL) Price Drops 11%
Since the end of October, XRP has been in a downward trend, struggling to rise further. The chart displays a clear downward trend line, which is an obstacle that XRP has not been able to overcome. Market pessimism is reflected in this resistance line, as the price tends to drop whenever XRP approaches this line. To indicate a reversal, XRP must break through this line and maintain its position to end the downward trend. Given the downward trend and the pattern of lower highs and lower lows, bearish pressure seems to persist. This pattern suggests that each rebound attempt meets with selling pressure, preventing XRP from establishing a solid foundation for an upward trend. In this context, key levels to watch are around $0.53, where the convergence of resistance levels may support or inhibit upward breakthroughs.
Crash! Bitcoin dips to $66,800, Ethereum falls below $2,400, U.S. presidential election 'hedging' leads to a total decline in U.S. stocks.
Bitcoin rebounded to about $69,500 yesterday but could not sustain the rise, starting a new wave of decline after midnight today, dipping to a low of $66,822, returning to the low point of the consolidation zone at the end of October. At the time of writing, there is a rebound, briefly breaking through $68,000, currently reported at $67,703, with the decline in the last 24 hours narrowing to 1.52%. The reason for this wave of decline is speculated to be related to investors choosing to hedge before the U.S. presidential election and before the Fed announces its interest rate policy.
As for Ethereum, it dipped to a low of $2,357 in the morning, and is currently reported at $2,384, with a decline of 3.2% in the last 24 hours.
1. Vitalik is focused on women, and the foundation is focused on selling coins.
2. So far, Grayscale has sold more than 1 million Ethereum.
3. A series of both new and old Ethereum concepts like ETHFI, LDO, ENA, BB, etc., have generated huge profits, but also represent a massive bubble. About half a month ago, a major staker sold tens of thousands of ETH after their staking period ended; this is not an isolated case.
4. Losing key players (ICO and DEFI). In the last round, Ethereum was almost the biggest bull market, with some competition but still dominating. In this round, SOL is just too strong, along with other public chains. With Ethereum losing the advantages of ICO and DEFI, MEME can't keep up with SOL, and without innovation, it finds its survival space squeezed; it's just the trend of the times.
Do We Still Need Binance: From Regulatory Crackdown to User FUD, What Is the Real Problem?
As the top player in the industry and at the pinnacle of the pyramid, Binance seems to be facing increasing market FUD. Simon, marked as the CEO of MoonrockCapital on platform X, claimed that Binance charges 15%-20% of the total token supply as a condition for listing, causing a huge wave of discussion in the market. The intensity of the discussions quickly escalated, with both supporters and opponents voicing strong opinions, some even arguing that Binance might be the biggest cancer in the industry, while opponents stated that it is not Binance's responsibility but rather an issue with the project parties or the industry's development itself.
Ultimately, the leading figure of Binance publicly responded on social media: If it wasn't selected by Binance, no matter how much money and listing fees are involved, it cannot be listed on Binance. The token distribution is all public, and Binance cannot possibly take such a high proportion of token distribution.
Coinbase under siege? Uncovering the mystery of exchange listing fees
On November 3, Coinbase CEO Brian Armstrong retweeted a November 1 tweet from Simon, CEO of blockchain consulting and investment company Moonrock Capital, complaining about the high listing fees on centralized exchanges. He said: "Listing on Coinbase is free, and you can leave a message on Asset Hub for help. In addition, yes, DEX listing is also a good option (we also provide corresponding support in our products)." This statement has caused a lot of controversy. Many industry insiders have expressed different opinions on this. Some think his attitude is sincere, while others think it is nonsense. Odaily Planet Daily will briefly analyze the mystery of exchange listing fees in this article.
20 central banks announce interest rate decisions this week! Fed rate cuts coincide with US election, will market surge?
Investors around the world are holding their breath awaiting the results of the U.S. presidential election on the 5th. According to Bloomberg statistics, about 20 central banks around the world, which account for more than one-third of the global GDP, will announce their interest rate decisions after the election this week. Although the election has not yet resulted in a result, the market generally expects that the Federal Reserve and most other central banks will cut interest rates again in the coming week.
20 central banks announce interest rate decisions this week With the competition between Republican candidate Trump and Democratic candidate Kamala Harris fierce on the day before the November 5 election, central banks of major countries in the world continue to face many uncertainties. However, leaving the election aside, Federal Reserve officials have previously stated that they hope to continue to cut interest rates at a more gradual pace after cutting interest rates by 1 basis point in September.
From November 4 to November 8, 2024, the "Super Week" will arrive with three major events:
1. On November 5, the U.S. presidential election officially begins, and results are expected around noon on November 6, which will significantly shake global assets; 2. From November 4 to 8, the 14th National People's Congress Standing Committee of China may review details related to fiscal stimulus policies, with market rumors suggesting a strong stimulus plan will be introduced; 3. On November 8, the Federal Reserve's interest rate meeting will decide whether to further cut interest rates to stimulate the market again.
These three major events will determine the future trends of U.S. stocks, A-shares, and the cryptocurrency market, leading to significant market fluctuations. Let's wait and see!!! #美国大选后涨或跌?
The market cap of MEME coin Pnut briefly exceeded 100 million, and the death of internet-famous squirrel Peanut, supported by Musk, sparked a political movement in the U.S.
During the past weekend, the MEME coin Pnut became a subject of speculation among degens, with its market cap breaking the 100 million dollar mark in just one day. This craze is related to the news of the internet-famous squirrel Peanut being 'detained' and subsequently euthanized, as public sympathy for Peanut's unfortunate fate spreads across the internet, especially with the 'amplification' from public figures like Musk, turning this incident into a political movement in the U.S., igniting strong outrage and widespread condemnation online.
Pnut's market cap peaked at over 100 million, with the deployer earning only 73,000 dollars.
Is this giant whale a hope or a trap for Trump? A smart whale that built its position in 2023 recently sold 265,070 SOL to lock in profits. According to on-chain data monitoring, a certain smart whale recently sold 265,070 SOL to lock in profits. This address purchased 500,862 SOL at only $23.6 between August 7 and October 23, 2023 (worth $11.81 million at the time, now worth $81.14 million). He currently holds 132,089 JitoSOL ($24.72 million) and 126,631 SOL ($20.58 million), with profits from SOL amounting to approximately $87 million.
Will Bitcoin rise regardless of whether Trump or Harris wins the election?
After dawn, history will come.
The fate of Bitcoin and the US White House election seem to have never been so closely intertwined. Since the end of October, Trump's winning rate on major prediction platforms has been declining, and Bitcoin has also been fluctuating. As the "hero" and "Bitcoin president" of the cryptocurrency circle, if Trump wins the election, what kind of explosion will the price of Bitcoin usher in? If he loses the election, what will happen to the cryptocurrency circle and Bitcoin?
As the election day draws near, let's take a look at the predictions of top traders and prepare a foolproof trading strategy.
Bitcoin is expected to break new highs after the US election! 4 altcoins surge 100 times!
Now the entire market is only focused on one thing, that is the US election and the interest rate decision on the 8th. In general, Trump is still ahead of Harris, which is good news for us. Although he has encountered some minor setbacks in the past few days, it has not hurt the root. Trump's performance in the seven swing states is ahead of Harris, and his chances of winning seem to be larger.
The market's pullback in recent days is a healthy pullback, but it is also partly due to the panic caused by the unusual changes in the Mentougou address, coupled with the increased uncertainty about Trump's election.
However, no one can tell until the final result comes out, so we must be prepared for both situations and ensure that we can deal with it calmly whether Harris or Trump is elected. It is still recommended that everyone control their positions at 60% to 70% and maintain more than 30% cash positions. As for the interest rate decision, Thirteen believes that there is a 90% probability of a 25 basis point rate cut, and there is almost no suspense. You see, the interest rate cut cycle has begun, even if Harris is elected, we should remain confident in the future market.
Solana DeFi momentum remains strong, with a locked amount of $5.7 billion in the third quarter
Solana continues to prove itself as one of the top blockchains of this cycle. After a 35% rise in the past 60 days, the popular Layer 1 blockchain is back in the spotlight and has launched more on-chain activities.
According to recent data, Solana's total locked value or TVL in DeFi increased to $5.7 billion in the third quarter, a 26% increase from the previous quarter. Cryptocurrency lending service Kamino leads the list with a TVL of $1.5 billion and an impressive 7% quarter-over-quarter growth, thanks to the addition of jupSOL and PYUSD. Recent data also indicates that Solana's market cap is now $3.8 billion, up 23%, driven by the integration of PayPal's PYUSD.
Could Shiba Inu (SHIB) Soar? Dogecoin (DOGE) Down 15%? Will Bitcoin (BTC) Bounce Back to $70,000 After This?
Following a significant rise in September, Shiba Inu has been in a recovery mode over the past few weeks. The important moving averages on the chart have converged, making SHIB a focal point for traders as they look forward to an upcoming peak in volatility. In the past, whenever the moving averages began to converge, it usually indicated that price volatility was about to peak. The current chart shows that SHIB's moving averages, particularly the 50-100 and 200-day EMA, are gradually approaching each other, which is a typical technical pattern that often appears before a breakout. When the market accumulates enough momentum to break through critical resistance levels or fall towards support levels, this pattern often signals significant price volatility. If this convergence leads to an upward breakout, SHIB's price could rise significantly, with major resistance levels around $0.000018 and $0.000019.
1. The essence of Sol is to take small risks for big rewards, rather than to take big risks for big rewards or small risks for small rewards. 2. On Eth, memes are narrative + community + platform, while Sol purely seeks angles; if the angle holds, it lasts for two days, if it doesn't, it lasts for two minutes. 3. In the future, both Sol and Eth memes will have their own markets, not a mutually exclusive relationship. 4. Looking ahead, Sol will welcome a larger market, and Eth will also welcome a larger market.
If Harris is elected, will Bitcoin crash? I think it is likely to drop first and then rise. If Trump wins this time, Bitcoin may continue to surge in the short term. But if Harris wins, Bitcoin may correct, although this does not mean it will decline in the long term. Because regardless of who is elected, U.S. fiscal policy will expand, just with different intensities. The Federal Reserve is currently on a medium to long-term monetary easing path, so even if Trump is not elected, the trend of monetary easing in the market remains, which will benefit the rise in Bitcoin prices later on.In the long run, the impact of the election on the market is actually not significant. The election is just one link in the market trend, not the whole. It is not the only factor determining Bitcoin's long-term trend. The rise and fall of the market are more about the competition of emotions and funds, rather than being purely determined by the election results. The trends in the economy and monetary policy are more important than the election results, especially regarding the impact on market liquidity. Even if Harris is elected, the Federal Reserve's monetary policy will not change because of the election. Even if Trump is elected, many of his promises are not easy to fulfill. For example, firing the SEC chairman is not simple, as it requires sufficient justification. Moreover, preventing the government from selling Bitcoin is even more difficult, as these assets belong to different independent departments and are not under presidential control. Additionally, both Bitcoin and Ethereum spot ETFs were approved during the Democratic administration, so there are currently no signs indicating that the Democrats will hinder the development of cryptocurrencies. Overall, even if Harris is elected, the crypto space will not be significantly impacted; the key still lies in the economy and monetary policy.