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新闻与见解

BTC faces a risk of a correction to $66.8K

BTC faces a risk of a correction to $66.8K

Hot projects + Market overview

I. Mainstream exchange news

  • WOO X has listed the SPX/USDT and the MICHI/USDT spot trading pairs.
  • Binance Web3 Wallet has launched the Zircuit bonus and gas fee subsidy event.
  • Bitget and Binance have launched the TROY/USDT perpetual contracts with up to 75x leverage.

II. Mainstream projects and trending events

  • MicroStrategy's market value has reached $49.54 billion, exceeding Coinbase's valuation of $44.87 billion.
  • Donald Trump marked the 16th anniversary of Bitcoin's whitepaper on his X account, vowing to stop the "war on crypto,” and appealing for support from crypto enthusiasts for his presidential campaign.
  • Time.fun, a platform initially on Base, has shifted to Solana. Co-founder 0xKawz cited Solana's dominance and Ethereum's insular tech focus and cultural issues as reasons for the shift, suggesting that more developers might follow if Ethereum doesn't address these concerns.
  • Agora, co-founded by Nick Van Eck, is set to launch its US dollar stablecoin AUSD, on Injective‘s blockchain to create a bridge for liquidity between decentralized and traditional finance markets.
  • Scroll has launched its Scroll SDK, a ready-to-use infrastructure for deploying sovereign blockchain networks. This release includes new gadgets and a comprehensive development roadmap.
  • Elon Musk has tweeted about the Department of Government Efficiency (D.O.G.E.), a fictional role he suggested for a potential Donald Trump administration causing Dogecoin (DOGE) to surge nearly 6%.
  • The Crypto Fear and Greed Index was 77 on October 31, indicating that the market is still in an "extreme greed state".
  • The US Treasury Department has released a report on digital assets, noting a rapid increase in the overall scale of digital assets from relatively low levels. 
  • Venn Network, a proactive security network, has announced the launch of its testnet. 

III. Funding news

  • Ellipsis Labs, the developer of the DeFi protocol Phoenix on Solana, has completed a $21 million funding round to fast-track the launch of Atlas, a second-layer blockchain focused on verifiable finance.
  • Bitcoin rollup project Citrea has completed a $14 million Series A round led by Founders Fund.
  • Axal, a blockchain company developing a network of autonomous agents, has completed a $2.5 million pre-seed funding led by CMT Digital.
  • Spire Labs, an Ethereum scaling infrastructure developer, has completed a $7 million seed round led by Maven 11 Capital.
  • MicroStrategy has launched the 21/21 Plan financing initiative to raise $42 billion to accumulate more Bitcoin over the next three years.
  • Blockchain solar company Glow has completed a $30 million financing round led by Framework.

IV. Regulatory news

  • The US SEC has issued a Wells notice to the crypto gaming platform Immutable, signaling potential enforcement action regarding the platform’s listings and private sales of its IMX token in 2021. Immutable maintains that IMX is not a security.

V. Popular projects 

Market overview

BTC has been trading just above $72,000, showing no signs of a clear breakout.

Correction risks are looming as news of US Presidential candidate Kamala Harris's rising poll numbers, Mt. Gox address activities, and outflows from BTC ETFs create uncertainty.

If BTC fails to reclaim $69,900, it may drop to $66,800.

CA: Rising Interest in Coupon Assets

Coupon Assets (CA), launched in March 2018 by RADAR LAB, is a platform token with high liquidity in the global financial market, including equity token assets and anti-counterfeit bonds and bills.

Built on the Ethereum ecosystem, CA stands out for its financial attributes, appealing to investors looking for reliable digital assets.

It holds a market cap of $23.69 million with $1 million in on-chain liquidity.

MSTR: MicroStrategy-Inspired Meme Surge

MSTR2100 is a memecoin on Ethereum, themed around MicroStrategy's stocks with the slogan "THERE IS NO SECOND BEST."

The MSTR token gained traction after MicroStrategy announced substantial Q3 earnings and a $42 billion capital initiative to enhance Bitcoin holdings, portraying itself as a Bitcoin-leverage entity.

MSTR has $1.7 million in on-chain liquidity and a market cap of $42.46 million.

INST: Digital financial services on the rise

Instadapp (INST) is a digital financial service platform that simplifies managing and optimizing investments across various decentralized finance (DeFi) platforms.

It boasts $1.98 billion in locked assets and offers attractive annual percentage yields (APY) — 8.68% on ETH and 4% on BTC.

The INST token has reached a market cap of $160 million.

 

SELFIE: Memecoin mentioned by notable KOL

SELFIE, a Solana-based memecoin, features which claim to be the most photogenic dog on the internet.

With a supply of close to 1 billion tokens, no transaction fees, and frequent mentions by memecoin Godfather @MustStopMurad, it has $2.4 million in on-chain liquidity and a market cap of $52.16 million.

On-chain daily

1. TRUMP47/SOL: TRUMP47/SOL is a memecoin on Solana, featring the 47th President of the United States.

2. ACT: ACT is an AI memecoin on Solana, similar in generation to GOAT. Act I is another AI project funded by a16z founder Marc Andreessen, with members including Truth Terminal founder Andy Adyrey. Yesterday, ACT Dev sold all his funds.

3. MemesAI: MemesAI is an AI memecoin on Solana, another official memecoin recognized by the founder of Truth Terminal.

4. EARL: EARL is a memecoin on the Solana network, featuring the image of a cat doll in semi-finished form.

5. SIGMA: SIGMA is a memecoin on Solana, featuring micro-expressions and themed around the internet slang "Sigma Male," referring to individuals who do not need social interaction, are highly capable, and are extremely disciplined.

6. IB: IB is a memecoin on Solana, featuring the concept of "Infinite Chambers," created by a team of two CTOs.

  • On-Chain Token Holding Addresses: 4,524
  • Current Price: $0.007923
  • Market Cap: $7.8M
  • Official Twitter: https://x.com/ibtoken

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:

  • Current BTC Transaction Fee: 3 satoshis/byte
  • Gas fees have decreased following the minting completion of MEMENTO•MORI, leading to a drop in Gas Fee.

Fractal Bitcoin Gas Fee Update:

  • Current Transaction Fee: 31 satoshis/byte
  • Gas Fee prices have plummeted significantly, with a recent trend of low activity.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

  • Current Price: $33.59
  • 24-Hour Change: -3.8%
  • Market Cap: $704.82M

DOG:

  • Current Price: $0.004032
  • 24-Hour Change: -10%
  • Market Cap: $403M

FB:

  • Current Price: $5.77
  • 24-Hour Change: +2.9%
  • Market Cap: $28.61M

Today's Popular Projects:

FBmainchain: Fractal Bitcoin Inscription, featuring the Fractal Bitcoin main chain.

  • Current Market Cap: $43.5M
  • 24-Hour Trading Volume: $7584
  • 24-Hour Increase: +15%
  • Number of Holders: 7391

𝛑: Inscription, one of the leading inscriptions with an overall upward trend in market cap over the past month, large community size, and increasing number of holders.

  • Current Market Cap: $65M
  • 24-Hour Trading Volume: $555K
  • 24-Hour Increase: +5%
  • Number of Holders: 27,813

LUCE•MASCOT•OF•THE•HOLY•YEAR: Rune, featuring the rune version of the Catholic mascot memecoin LUCE.

  • Current Market Cap: $133K
  • 24-Hour Trading Volume: $13K
  • 24-Hour Increase: +23%
  • Number of Holders: 1261

Performances of today's top three tracks

AI: Overall daily sector change: -2.22%

1. AGIX: AGIX operates proxies on the SingularityNET platform that can outsource work.

  • Daily Increase: 6.99%
  • Current Price: $0.6141
  • Current Market Cap: $790.66M
  • 24-Hour Trading Volume: $187.66K
  • Recent News: Announced a partnership with Tenstorrent (a computer manufacturer).

2. OCEAN: Ocean Protocol provides tools to build data marketplaces, and manage data NFTs, and DeFi data tokens.

  • Daily Increase: 6.84%
  • Current Price: $0.6123
  • Current Market Cap: $397.53M
  • 24-Hour Trading Volume: $611.82K
  • Recent News: Co-hosted the P4W3 hackathon.

3. ARKM: A blockchain analytics and intelligence platform providing information on real-world entities and individuals behind cryptocurrency market activities.

  • Daily Increase: 2.05%
  • Current Price: $1.639
  • Current Market Cap: $487.42M
  • 24-Hour Trading Volume: $93.23M
  • Recent News: Partnered with Phantom Wallet to track token holdings/trades on Arkham.

CeFi: Overall daily sector change: -3.01%

1. SWFTC: SWFT Blockchain is a one-stop cross-chain trading protocol and payment network, offering custodial and non-custodial (decentralized) storage options, as well as features like NFTs and lending.

  • Daily Increase: 17.96%
  • Current Price: $0.00372
  • Current Market Cap: $33.3M
  • 24-Hour Trading Volume: $4.99M
  • Recent News: Launched BABYCZHAO on Bridgers.

2. KCS: KCS is the platform token of the Kucoin centralized exchange.

  • Daily Increase: 1.12%
  • Current Price: $8.885
  • Current Market Cap: $1.07B
  • 24-Hour Trading Volume: $107.47K
  • Recent News: Null

3. ZIG: Zignaly is a social cryptocurrency investment platform. Avoid monthly subscription fees by paying a portion of profits as a performance fee.

  • Daily Increase: 1.08%
  • Current Price: $0.093
  • Current Market Cap: $131.73M
  • 24-Hour Trading Volume: $747.81K
  • Recent News: Announced that the founder will lock tokens until 2026.

RWA: Overall daily sector change: -3.33%

1. PROPC: Propchain is a real estate investment market providing tools on real estate and development projects of various natures, sizes, valuations, and locations.

  • Daily Increase: 9.71%
  • Current Price: $1.1471
  • Current Market Cap: $21.26M
  • 24-Hour Trading Volume: $963.49K
  • Recent News: $PROPC has been officially integrated into Prop.com.

2. MKR: MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum, introducing the first decentralized stablecoin Dai on the Ethereum network, with MKR as its governance token.

  • Daily Increase: 3.30%
  • Current Price: $1285
  • Current Market Cap: $1.21B
  • 24-Hour Trading Volume: $179.4M
  • Recent News: Distributing SKY event rewards on the Sky app until the end of 2024.

3. SOLO: SOLO offers tokenized securities and allows investment, trading, and on-demand tokenization of assets like stocks, ETFs, and fiat currencies on the XRP Ledger.

  • Daily Increase: -2.22%
  • Current Price: $0.08507
  • Current Market Cap: $33.96M
  • 24-Hour Trading Volume: $316.05K
  • Recent News: Upcoming project updates, release of strategy and roadmap.

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.

Please note that this article includes references to third-party websites and data during provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

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