Headlines
BTC continues to rise and breaks through 89,000 USDT
Odaily Planet Daily reported that OKX market data showed that BTC rose above 89,000 USDT and is now trading at 89,107 USDT, up 11.52% in 24 hours, setting a new historical high.
Odaily Planet Daily reported that according to SoSoValue data, last week (November 4th - November 10th, Eastern Time), the net inflow of US dollars into the cryptocurrency market reached US$6.283 billion.
Among them, the U.S. Bitcoin and Ethereum spot ETFs had a weekly net inflow of US$1.792 billion; the fiat-backed stablecoins (USDC, USDT, FDUSD, TUSD, PYUSD, USDP, GUSD) had a weekly net inflow of US$4.492 billion.
As of press time, the total net inflow into the cryptocurrency market reached US$183.19 billion.
Note: USD inflows into the cryptocurrency market is an exclusive market indicator of SoSoValue. This indicator combines the cumulative net inflows of ETFs with the inflows of fiat-backed stablecoins, clearly reflecting the actual amount of fiat funds flowing into the cryptocurrency market.
The ETF Store President: Several new spot cryptocurrency ETFs are expected to be filed this week
Odaily Planet Daily News: Nate Geraci, president of The ETF Store, wrote on X: “It is predicted that issuers will submit several new spot cryptocurrency ETF applications this week, including XRP, SOL, ADA, etc. Assuming that many issuers are fully prepared for the election results, it doesn’t hurt to be radical now.
Odaily Planet Daily News: Justin Drake, a core researcher at the Ethereum Foundation (EF), posted on X: Tomorrow at 5 pm, I will announce a major plan on the Devcon main stage. For a year, I have been thinking about what an Ethereum consensus layer redesigned from scratch would look like. My goal is to come up with a reliable strategy to launch an ambitious and exciting beacon link map within a reasonable time frame. After months of brewing with researchers and consensus developers, I am finally ready to publicly put forward my proposal. It is still too early, and if this new approach to solving the consensus layer roadmap can reach a preliminary consensus, your participation is crucial.
Industry News
Odaily Planet Daily reported that Coinglass data showed that the total open interest of Bitcoin futures contracts across the entire network was 609,850 BTC (approximately US$50.2 billion).
Among them, the open interest of CME Bitcoin contracts was 184,340 BTC (about 15.16 billion US dollars), ranking first;
Binance Bitcoin futures open interest was 124,310 BTC (approximately US$10.24 billion), ranking second.
Odaily Planet Daily reported that Coinglass data showed that the nominal value of open positions in BTC options on the entire network today was US$29.01 billion, and the nominal value of open positions in ETH options was US$6.81 billion.
Odaily Planet Daily reported that on November 11, Bitcoin rose 11% to $89,500, pushing the daily trading volume of US spot Bitcoin ETF, MicroStrategy Inc (MSTR) and Coinbase Global Inc (COIN) to a record high of $38 billion.
That far exceeds the previous high of about $25 million reached in March, according to data cited by Bloomberg ETF analyst Eric Balchunas.
All kinds of data are setting new all-time highs, Balchunas said. He pointed out that BlackRock IBIT alone had a record trading volume of $4.5 billion, (which) shows that capital inflows were strong this week. It was a crazy day. (Cointelegraph)
MicroStrategy purchased 27,200 BTC, and currently holds 279,420 BTC
According to a post by MicroStrategy founder Michael Saylor on the X platform, MicroStrategy purchased 27,200 BTC at a price of approximately US$2.03 billion, with an average purchase price of US$74,463. As of November 10, 2024, MicroStrategys Bitcoin holdings reached 279,420 BTC, and the Bitcoin yield has reached 26.4% since the beginning of the year.
FTX sues Binance, CZ faces $1.8 billion fund recovery demand
Odaily Planet Daily News @cryptounfolded posted on the X platform that FTX sued Binance, and former CEO CZ faced a recovery demand of $1.8 billion.
Odaily Planet Daily reported that the news that FTX sued Binance and former CEO CZ faced a $1.8 billion recovery request was circulated in the market. After verification by Odaily Planet Daily, a Binance spokesperson responded: These claims are unfounded and we will actively defend ourselves.
Former Alameda co-CEO agrees to hand over yacht, condo, and $70M claim to FTX creditors
Odaily Planet Daily reported that former Alameda Research co-CEO Sam Trabucco has agreed to transfer a series of properties including yachts to FTX creditors.
Trabucco bought the 53-foot boat for $2.51 million in March 2022, just months after he left Alameda. According to a Nov. 10 court filing, Trabucco also agreed to give up legal ownership of two San Francisco condos he purchased in 2021 for a total of $8.7 million. He also agreed to transfer all rights to his approximately $70 million claim against FTX to creditors, which will be dismissed, the filing said. (Bloomberg)
Project News
Snowden calls for decentralization, questions VC influence on Solana
Odaily Planet Daily News: Edward Snowden, the whistleblower of the Prism Gate, talked about the issue of decentralization at the Near Redacted conference held in Bangkok, Thailand.
While discussing topics such as cryptocurrency, artificial intelligence, and blockchain technology, Snowden also used Solana as an example to talk about the impact of VC on blockchain projects. He described Solana as born in prison because it received a lot of VC funding, suggesting that financial support may hinder the ability of its blockchain network to operate independently.
While he acknowledged Solana’s rapid growth, he also worried about giving away too much ownership to investors, though he also noted that Solana could “achieve something” in the future.
Furthermore, throughout his speech, Snowden stressed the importance of decentralization in combating the widespread surveillance capabilities enabled by artificial intelligence. He warned that AI-driven surveillance allows governments and businesses to process large amounts of personal data in real time, which could pave the way for large-scale real-time data analysis. (Cointelegraph)
Odaily Planet Daily News Circle reported that the company has issued more than $2 billion worth of USDC in the past few weeks, exploring how the combination of artificial intelligence and blockchain technology will change peoples understanding of work and finance, especially through the use of autonomous payments.
Circle introduced a concept that enables AI agents to operate and trade independently using digital dollars USDC. By adding financial capabilities, these agents can handle tasks completely independently.
Circle researched how to combine advanced artificial intelligence with secure automated payments and blockchain technology to create the system, using the Circle Developer Platform for payment processing.
In addition, a sample application has been built to demonstrate the autonomous system, and users are encouraged to use this template to build their own projects and provide feedback. (Crowdfund Insider)
WalletConnect Foundation Director: WCT claiming and staking will be launched on November 26
Odaily Planet Daily reported that Pedro Gomes, director of the WalletConnect Foundation, posted on X that WCT claiming and staking will be launched on November 26.
ENS Labs, the company behind ENS, plans to launch its L2 network Namechain by the end of next year
Odaily Planet Daily News ENS Labs, the company behind Ethereum domain name service ENS, is advancing its L2 network plan. Katherine Wu, COO of ENS Labs, said that the new network Namechain should be online by the end of next year. It will use zero-knowledge rollup.
“This technology allows Namechain to process and execute transactions outside of the main Ethereum network, while still inheriting the full security of Ethereum, but at a fraction of the cost,” ENS Labs said in a press release on Monday.
Wu said the new network will leverage the infrastructure of existing zero-knowledge chains that are compatible with the EVM, and the team is in the final stages of choosing which zkEVM to use. (CoinDesk)
Aave parent company Avara announces launch of non-custodial crypto wallet Family
According to official news, Aave Labs and Lens parent company Avara announced the launch of the non-custodial crypto wallet Family, with a built-in messaging function, designed to help users trade or explore Web3. Currently, the wallet can be downloaded for free on the iOS App Store.
DeFi Hub Spark Launches On-chain Ethereum Order Book Powered by Fuel VM
Odaily Planet Daily News: DeFi center Spark launched an Ethereum on-chain order book powered by Fuel VM.
“Leveraging Fuel’s modular architecture, Spark provides secure and efficient central limit order book (CLOB) trading tailored for professional and institutional traders, increasing transparency, preventing front-running, and ensuring self-custody. This advancement overcomes the limitations of automated market makers (AMMs) and centralized exchanges (CEXs),” the team said.
Dune acquires a16z-backed smlXL and launches new product Dune Echo
Blockchain analytics company Dune made three announcements at the DuneCon event in Bangkok, Thailand on Monday morning, including a new platform, the company’s latest acquisition, and new metrics designed to track meaningful blockchain adoption.
Launching today, Dune Echo is a new product from the analytics firm that connects developers with real-time blockchain data on 30 chains, including Ethereum, its multiple L2 networks, and Solana, which is currently in beta. Data on token balances and transaction queries is available within 300 milliseconds of block propagation.
Dune also announced the acquisition of a16z-backed smlXL, a blockchain company whose product can simulate real-time blockchain transactions. The acquisition value was not disclosed in the announcement. (The Block)
Conflux Foundation launches $500 million incentive plan
According to official news, the Conflux Foundation announced that it will launch an incentive program to promote the development of the PayFi ecosystem on Conflux. The Conflux Foundation will allocate $500 million from the ecological fund to support the growth of PayFis technology stack components.
ACT developers: All ACT tokens have been distributed, burned or sold
Odaily Planet Daily News: ACT developer AMP posted on the X platform that it has never been against ACT and said that it has distributed, burned or sold all ACT tokens, but does not want ACT to be listed on CEX.
At the same time, he said that he was glad to get rid of ACT because it was stressful to hold the tokens and he was often harassed by people who wanted to attribute or lock the tokens.
It is reported that AMP once held 6% of the total ACT, but it has sold its ACT tokens for profit many times.
Regulatory trends
Republicans take control of US House of Representatives
Odaily Planet Daily reported that according to data from the election prediction agency DECISION DESK HQ, the Republican Party of the United States has gained control of the House of Representatives. It is currently predicted that the Republican Party has won 218 seats in the House of Representatives and has become the majority party in the House of Representatives; the Democratic Party currently has 209 seats.
According to previous predictions by many media outlets, the Republicans have gained control of the Senate. (Jinshi)
Odaily Planet Daily News: According to sources, Trump intends to narrow the list of candidates for the US Treasury Secretary this week and prefers to let someone with a Wall Street background take up the position. The list of candidates for Treasury Secretary includes Howard Lutnick, CEO of Kenda, hedge fund billionaire John Paulson, former George Soros fund manager Scott Bessent, and Virginia Governor and former Carlyle Group executive Glenn Youngkin. Sources said Bessent met with Trump at Mar-a-Lago on Friday, but the meeting was not an interview for the position of Treasury Secretary. People familiar with the matter said that Trumps Wall Street allies urged him to appoint someone with a deep understanding of the financial industry as Treasury Secretary, and the Trump team has said they will follow this advice. Robert Lighthizer, the US Trade Representative during Trumps first term and the designer of the comprehensive tariff proposal, is also one of the candidates for Treasury Secretary. People familiar with the matter said Lighthizer has already begun working on tariff plans involving China and the European Union, and he could eventually take on a broad role in the White House overseeing trade policy across the administration.
WSJ: Powell is ready for legal fight if Trump tries to fire him
Odaily Planet Daily News: If Trump tries to fire Federal Reserve Chairman Powell, Powell is ready for a legal fight. (WSJ)
Yesterday, according to CNBC, Musk is a loyal supporter of President-elect Trump and supports the idea of allowing the president to intervene in the Feds policy. According to reports, Utah Republican Senator Mike Lee previously called on the Fed to take orders from the president on social media. In response, Musk posted a 100 emoji on the 8th, indicating full agreement. Mike Lee added the tag #EndtheFed to his post.
Musks comments, though brief, reflect a broader campaign of pressure on the independence of the Federal Reserve that could form in the next Trump administration. According to reports, Fed Chairman Powell said on the 7th that he would not resign even if Trump asked him to.
Cathie Wood proposes to weaken the power of the SEC and FTC, and Elon Musk praises her
Odaily Planet Daily News: Cathie Wood, founder of Ark Fund, wrote on X that the United States should relax regulations and weaken the influence of institutions such as the Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC). Cut government spending to make room for the private sector. Implement tax cuts and focus on technological innovation. Doing so may boost the US economy more powerfully than during the Reagan Revolution.
Elon Musk retweeted the post and called the proposals Great.
Investment and Financing
Odaily Planet Daily News: StakeStone, a full-chain liquidity asset agreement, announced the completion of a $22 million financing led by Polychain Capital. This financing also includes strategic investments from Binance Labs and OKX Ventures. The seed round was led by SevenX, with participation from Nomad Capital, HashKey Capital, HashKey Cloud, Amber Group, Coinsummer, Bankless Ventures, DAO 5, Symbolic Capital, Arcane Group, Quantstamp, etc.
StakeStone is committed to building the first liquid ETH/BTC asset standard based on a highly scalable staking network that supports a risk-free consensus layer for a variety of native assets. Driven by this round of financing, StakeStone also launched its liquid BTC products, including the liquid index BTC - SBTC and the interest-bearing liquid BTC - STONEBTC, to enhance the application of native BTC in the EVM ecosystem and other blockchain networks. StakeStone is committed to driving real applications by providing high-utilization liquidity, empowering ecological partners and DeFi protocols such as Berachain, Movement Labs, Monad, Plume Network, Corn, Pendle, AAVE DAO, etc.
StakeStone will also launch a payment product, providing flexible savings account functions based on its interest-bearing liquid ETH asset STONE, and a buy now, pay later (BNPL) option to bring users greater trading flexibility. At the same time, relying on MegaETHs real-time processing capabilities, the product aims to establish a sustainable model that drives real-world applications and supports large-scale adoption.
Charles K, co-founder of StakeStone, said that through this round of financing, StakeStone will be committed to bringing decentralized finance into the real world, and together with the next generation of high-performance blockchain networks, through RWAFi and PayFi, the number of users served will be greatly increased from 100,000 to tens of millions or even hundreds of millions, pushing the crypto industry into the era of super applications. (News.bitcoin)
Odaily Planet Daily reported that ZK coprocessor Brevis Network completed a US$7.5 million seed round of financing, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey and several undisclosed angel investors.
Brevis Network is a startup that uses zero-knowledge (ZK) technology for off-chain computing. Co-founder Michael Dong told CoinDesk that Brevis started raising seed rounds in June and closed them in September. Dong added that this round of financing was token financing, but declined to comment on the post-investment valuation.
Odaily Planet Daily News: TON network expansion project TAC has completed a $6.5 million seed round of financing, led by Hack VC and Symbolic Capital, with participation from Primitive, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures and Ankr. The financing will be used for marketing, developer relations and technology research and development. TAC aims to connect Ethereum developers and the TON blockchain ecosystem and simplify the development process on TON.
It is reported that TAC will provide seamless access to Solidity applications for TON and Telegram users, and plans to launch the test network this week, and the main network is expected to be launched in the first quarter of 2025. (The Block)
Filecoin L2 solution Akave completes $3.45 million in financing and launches Yucca testnet
According to official news from Akave, the decentralized data storage project Akave has successfully completed a financing of US$3.45 million, with participation from Protocol Labs, Blockchange VC, Lightshift and Blockchain Builders Fund. This round of financing will be used to accelerate Akaves on-chain data management.
It is reported that Akave is a Layer 2 solution launched by Filecoin. It has launched the Yucca testnet, which is open to early testers for exploring on-chain data storage and programmability. Akave provides tools for enterprises, AI companies and DePIN developers to help them go beyond traditional cloud storage, build on-chain data lakes, and promote the development of data ownership and new data monetization models.
❜mbd completes $3 million Pre-seed round of financing, led by Mask Network and Polymorphic Capital
Odaily Planet Daily News: Web3 recommendation system ❜mbd completed a US$3 million Pre-seed round of financing, led by Mask Network and Polymorphic Capital, and participated by a16z CSX, Forward Research, Social Graph Ventures, and WAGMI Ventures.
It is reported that ❜mbd has established a machine learning recommendation system to pre-train on-chain data, aiming to provide users with dynamic and relevant content and operations.
Character*Voice
OpenAI CEO: I am confident in the bright future of cryptocurrency
Odaily Planet Daily News: OpenAI CEO Sam Altman wrote on X: World (i.e. Worldcoin) has made amazing progress in the past year. I am very proud of the team, especially Alex Blanias leadership, which combines vision and execution. Overall, I am confident in the bright future of cryptocurrency.
He Yi: The listing fees for ACT and PNUT are both 0
Odaily Planet Daily News: Binance co-founder He Yi posted on the X platform that the ACT listing fee is 0 and the PNUT listing fee is 0.
Odaily Planet Daily News Gemini co-founder Cameron Winklevoss said that Bitcoins rise to $80,000 was mainly driven by continued institutional demand through spot Bitcoin ETFs, rather than retail investor activity.
He believes that this “sticky” demand from institutional investors is a sign of long-term bullish sentiment and that the current market cycle is still in its early stages.
Winklevoss said: Bitcoins road to $80,000 is paved with steady ETF demand. No retail FOMO. No fanfare. People are buying ETFs, not selling them. This is sticky HODL capital. The floor keeps rising, we just won the coin toss, the game hasnt really started yet. (Crypto Briefing)
Odaily Planet Daily News CryptoQuant CEO Ki Young Ju believes that the price of Bitcoin may be slightly below $59,000 at the end of the year, and pointed out that the overheated futures market is one of the main reasons for the year-end plunge.
Ki recently posted on X that he expects the price of Bitcoin to fall to $58,974 by the end of the year, and asked others what they thought of the year-end price, adding that he would pay 0.1 BTC to the person whose answer was closest.
He said: I expect that the Bitcoin futures market indicators are overheated, so there will be adjustments, but we are entering the price discovery phase and the market is heating up further. If there is a pullback and consolidation, the bull market may continue; however, in my opinion, the year-end plunge may lay the groundwork for a bear market in 2025. I hope my prediction is wrong.
Murad: The best meme coin market value in this cycle may reach 20 billion to 100 billion US dollars
Odaily Planet Daily News: Meme coin KOL Murad posted on the X platform that people don’t understand that the best Meme token in this cycle may reach a market value of 20 billion to 100 billion US dollars.
Odaily Planet Daily News Cryptocurrency trader Eugene said that he posted a post about ENA a month ago with hopes and dreams of a bull market. Now that ENA has reached the price of $0.6, some participants have realized the value of increasing funds and stablecoin adoption. All that needs to be done now is to hold the spot and wait for the wider market to realize that this is a must-have token in every portfolio.
