The large pancake is over £2000 away from the new high, and eth is also over £2000 away from the new high.
BTC has firmly established itself at 7; it's unclear whether the inscriptions will start first or if it will be memes or AI.
1. Market Trend:
BTC has risen sharply, breaking through 70,000. BTC dominance has reached a three-year high of 60%, with OK contract long-short ratio at 0.5. Active participation on the sol chain has decreased over the past week.
The US NASDAQ has risen, nearing new highs. Companies related to Trump have surged. Chinese concept stocks have soared, with foreign media reporting that if Trump is elected, China will inject £11 trillion in fiscal liquidity.
2. Market Hotspots:
1. The meme Doge has surged. The US election will conclude next week on November 5; the probability of Trump, supported by Musk, winning has increased. Doge is a meme that Musk has publicly favored multiple times on Twitter and is one of the few altcoins that has recently outperformed BTC.
2. Fan tokens like Santos, Lazio, Porto have surged, with Binance launching a new Santos contract. Recently, most of the tokens that have risen on Binance are those with a market cap below £100 million.
3. The trading robot Banana has increased. Recently, both Banana and Ray from the sol chain have benefited from on-chain trading. The market trend is that trading volumes are shifting from centralized exchanges to decentralized exchanges, similar to the gradual move from offline to online in Macau, as decentralization allows for more timely and effective token listing.
4. The payment token ACH has risen, with Sol chain's SVM releasing its own L1, using ACH as gas. Recently, major applications like Uni have launched their own chains, which is of little significance.
5. On-chain tokens Luce and Doge have surged. Luce is the cartoon mascot designated by the Pope for the 2025 Holy Year, with a market cap of £200,000. Doge is a homophonic reference to Musk's Department of Government Efficiency on the eth chain, with a market cap of £600,000.
6. AI Depin's Grass airdrop has a low expectation market cap of £800 million. Grass is mining AI models using idle bandwidth, with the company located in Canada and its main team from Southeast Asia. The same track IO has a market cap of £1.3 billion.
