Crypto Morning News: Bitfinex report says there is little prospect of altcoins recovering in the short term, Binance launches PONKE perpetual contract
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YesterdayMarket Dynamics
Yesterday’s on-chain capital flows: Polygon had a net inflow of $6.1 million, while Ethereum had a net outflow of $19.4 million
According to Artemis data, on November 4, Polygon had a net inflow of US$6.1 million, Solana had a net inflow of US$4.9 million, Sui had a net inflow of US$3.3 million, and Ethereum had a net outflow of US$19.4 million.
Moonshot will be listed on Solana chain Meme coin President Trump (47)
According to Moonshot Listings, Moonshot will list the Solana chain Meme coin President Trump (47)
GrayscaleTokenFund GDLC applies for listing ETP, or become the first multi-crypto asset ETP
Grayscale Investments, an asset management company, announced that the New York Stock Exchangeexchange Arca Corporation (NYSE Arca) has filed Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list the Grayscale Digital Large Asset Fund (GDLC) asexchangeThe application has been published in the Federal Register, formally initiating a regulatory review process that can take up to 240 days.
此次提案旨在修订exchange对持有商品和数字资产的 ETP 的定义，超越仅限于比特币和以太坊的范畴。若获批准，这将成为首个允许多加密资产 ETP 在美国国家证券交易所上市交易的规则集。
As of November 1, 2024, GDLC manages more than $530 million in assets, and its portfolio includes Bitcoin (76.53%), Ethereum (16.92%), Solana (4.36%), XRP (1.63%) and Avalanche (0.56%), etc. The fund is currently traded on the OTC market under the symbol GDLC.
SolanapledgeFragmetric completes first round of financing
According to official news, Solana's re-staking protocol Fragmetric completed its Builder round of financing. Investors include Solana founder Anatoly Yakovenko, Solana Foundation Chairman Lily Liu, Jito Labs founder Lucas Bruder, Backpack founder Tristan, Wintermute co-founder Yoann Turpin, etc.
Fragmetric launches the SANG system: Solana Network Guard, which provides users with a convenient and fair path to participate in re-staking, integrating SOL and LST as the Solana networkSafetyProvides assurance of safety and stability.
Bitfinex Report: Without new catalysts, prospects for altcoin recovery in the short term are slim
Bitfinex released its latest report, “The Calm Before the Storm”, on the eve of the US presidential election.cryptocurrencyThe market is showing a complex and volatile situation. After eight months of range fluctuations, Bitcoin has almost broken through its historical high recently, and then experienced a sharp correction. Analysts believe that this wave of gains initially originated from the "Trump deal" narrative, but was subsequently affected by the uncertainty of the US election results.
As Bitcoin dominance surpassed 60%, setting a new cycle high, the altcoin market appeared relatively cool, with Ethereum and Solana both down about 12% from their recent highs, and Ethereum down 40% from the early days of its ETF rally. The speculative interest that once supported altcoins seems to have faded, as reflected in stable funding rates and overall low market sentiment. With Bitcoin absorbing most of the funds flowing into crypto assets, altcoins are struggling to keep up, and without new catalysts, their prospects for recovery in the short term appear slim.
Options market data show that investors generally take a wait-and-see attitude. As of Election Day (November 5), the earliest expiringcontractShort-term implied volatility is unusually quiet, suggesting investors are waiting for clarity. However, markets are anticipating a potential surge in volatility between November 5 and 8, which could trigger large price moves or, if that fails to materialize, could signal deeper caution in the market.
Ripple quarterly report: All exchanges in the United States that had previously delisted XRP have relisted it
According to CrowdFund Insider, Ripple released the XRP market report for the third quarter of 2024. The report emphasized that XRP's "non-security" status is still valid, and the SEC's appeal to Ripple does not involve the question of whether XRP is a security. In the third quarter, many institutions showed great interest in XRP investment products, and Bitwise, Canary and 21Shares all submitted S-1 application documents for XRP ETFs.
It is worth noting that since the court ruled that XRP itself does not constitute a security, all US exchanges that had previously delisted XRP have relisted it. The Chicago Mercantile Exchange (CME) launched an XRP reference price, and Bitnomial announced plans to launch an XRP futures product. Grayscale also launched an XRP trust fund and applied to convert the digital large-cap fund that includes XRP into an ETF.
Swell Network: The SWELL airdrop claim page has been launched and will be open on November 7
Swell Network, a re-staking protocol, officially announced that its SWELL TokenThe airdrop claim page is now online and claims will be open on November 7th.
Officials remind users to be vigilant against fraud during this period and verify whether all links are authentic and valid. Users do not need to perform any signature operations to view theirTokenAllocated amount.
OSL Group acquires Japanese compliancecryptocurrencyTrading platform CoinBest
OSL Group (863.HK), a Hong Kong-listed company focusing on digital assets, announced today that its wholly-owned subsidiary has signed a share purchase agreement to acquire 81.38% of the equity of CoinBest KK (hereinafter referred to as CoinBest), a crypto asset trading service provider licensed by the Japanese Financial Services Agency (FSA). This move is an important strategy for OSL Group to enter the Japanese market.
BinancePONKEUSDT Perpetual launchedcontract, up to 75 timeslever
Binancecontract平台将于 2024 年 11 月 4 日 20:30（东八区时间）上线 PONKEUSDT 永续合约，最高杠杆可达 75 倍。
Alliance Report Summary: United States DeFi Developer share shrinks, BaXiaobai Navigations L2 Become the developer's first choice
On November 4, Nik, a partner of The Fintech Fund, posted on the X platform:
“The Alliance team always has great DeFi research and data, and I wanted to highlight their latest trends report. Here are three insights I found most interesting:
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The U.S. continues to see a smaller share of DeFi developers relative to Asia and Africa. I believe this will continue as the opportunity to improve absent or non-existent financial rails becomes more apparent.
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Infrastructure, DeFi, Payments and AI x Crypto is becoming increasingly popular.DAO And NFTs are shrinking.
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Base L2 It is quickly becoming the developer’s first choice.”
Nawal: Most crypto projects fail because the founding teams get rich too early
Well-known investor Nawal wrote on X: Most crypto projects fail because the founding team gets rich too early, and this problem cannot be solved by hiring new talent. In response, Kyle, the founder of Muliticoin, commented that yes, the best founders are not entirely driven by finance.
It is reported that Nawal is a well-known angel investor in Silicon Valley. He has invested in well-known technology companies such as Twitter and Uber. He is also a successful entrepreneur and founded the equity crowdfunding platform AngelList.
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The article comes from the Internet:Crypto Morning News: Bitfinex report says there is little prospect of altcoins recovering in the short term, Binance launches PONKE perpetual contract
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