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News & Insights

BlackRock's spot BTC ETF hits $1.1B in net inflows

BlackRock's spot BTC ETF hits $1.1B in net inflows

Hot projects + Market overview

I. Mainstream exchange news

  • Coinbase has launched its cbBTC on the Solana network.
  • Binance has listed 1000000MOG/USDT perpetual contracts with up to 74x leverage and will launch BNSOL super staking, and SOL/USTDT daily and weekly options.
  • HTX has listed the COW (CoW Protocol) token.
  • HashKey Global has listed the HashKey Group's ecosystem token HSK.
  • Bitget Wallet has introduced Refer2Earn, a long-term incentive program to earn bonuses by inviting friends. The exchange also launched a four-week memecoin trading event with Unizen featuring a $400,000 prize pool.

II. Mainstream projects and trending events

  • The US Federal Reserve has cut US interest rates by 25 basis points.
  • Magic Eden will release the ME token economic model on November 18.
  • MakerDAO has decided to retain its Sky brand and will launch a new stablecoin.
  • The public mainnet of the Ethereum SVM L2 network Eclipse is now live.
  • StakeStone, a platform specializing in yield-generating solutions, has launched StakeStone Vault, a platform for revenue products, starting with a $5 million deposit vault in partnership with RWAFi's Plume chain.
  • A widely adopted Ethereum scaling solution Polygon and PayPal-backed startup Magic Labs will launch a new cross-chain network called Newton. This platform aims to make using decentralized applications (dApps) across multiple blockchains as seamless as browsing the internet.
  • Swell, an Ethereum staking project, has said that the SWELL claim has been opened.
  • Ethereum Foundation has launched the Mekong on the testnet to include all EIP proposals that will be used for the Ethereum Pectra fork. 
  • Polygon, a widely adopted Ethereum scaling solution, will launch in December, the AggLayer version that supports connecting any EVM chain.
  • MEME project EPIK DUCK will airdrop to the first 3,000 users who pre-purchase the Solana gaming handheld PSG1.
  • The community of DeFi lending protocol Morpho has voted to pass a suggestion to make the MORPHO token transferable.

III. Funding news

  • Pond, a crypto startup building a decentralized AI model layer, has completed a $7.5 million seed round led by Archetype.
  • MultiVM execution layer Cytonic has completed an $8.3 million seed round led by Lattice.

V. Popular projects 

Market overview

Bitcoin is experiencing minor fluctuations around its previous high, while Ethereum has peaked at $2,954, targeting $3,100. 

If Ethereum holds above the daily MA140 at $2,763, this recovery will continue.

Solana shows strong performance, reaching $201, just $9 shy of a new all-time high. The performance of Solana ecosystem projects could be noteworthy.

DOGE: Boosted by political developments

DOGE, derived from Elon Musk's "Department Of Government Efficiency" tweet shared on X, has gained new traction after Donald Trump's election win.

Musk, soon to chair a government efficiency committee, claimed a potential $2 trillion federal budget cut, bolstering DOGE's appeal.

The token now has on-chain liquidity of $3.8 million and a market cap of $126 million.

E/ACC: Bridging AI and philosophy

E/ACC, short for "Effective Accelerationism," combines biological, physical, economic, and social theories into a philosophical concept.

Emphasizing adaptability, evolution, intelligence, and acceleration as universal principles, it highlights how technological innovation drives social transformation.

This emerging idea has influenced many KOLs, pushing the token's market cap to $26.87 million. 

NAVX: Leading DeFi in the Sui ecosystem

Navi Protocol (NAVX), a native one-stop liquidity protocol on Sui, enables users to participate as liquidity providers or borrowers within the Sui ecosystem.

Focusing primarily on lending and liquidity staking, Navi Protocol has achieved a total value locked (TVL) of $350 million since its mainnet launch in July, 2023.

The recent launch of Cetus on Binance within the Sui ecosystem has also heightened interest in NAVX, driving its market cap to $43.47 million.

TON: Advancing Ethereum’s layer 2 solutions

Tokamak Network (TON), an Ethereum layer 2 platform, enhances blockchain speed and security using Rollup and zero-knowledge technologies.

It enables DApps to easily create layer 2 solutions while using Ethereum as the base layer.

Recently, Tokamak further advanced its vision with the launch of the Tokamak Rollup Hub, boosting its market cap to $70 million.

SKBDI: Rising star of Internet memes

SKBDI, also known as "Toilet Man" from the viral "Skibidi Toilet" animation, has captured a global following with its widespread appeal.

With over 20 million dedicated fans and billions of views, it has claimed the title of "Meme of the Year" for 2023.

Currently, the token has reached a market cap of $56.09 million.

On-chain daily

1. MONKEY: MONKEY is a memecoin on the Solana network, featuring a Web 2 concept in which 40 monkeys escape from the Alpha Genesis Research Center in South Carolina.

2. LOLA: LOLA is a memecoin on the Solana network, featuring the concept of a fully autonomous AI Agent with long-term memory, Twitter presence, and complete control over her trading wallet.

3. ROSSPEPE: ROSSPEPE is a memecoin on Solana, with a narrative that involves sending 50% of the token supply to the wallet of Ross Ulbricht, the founder of the Silk Road on the dark web.

4. HAPPY: HAPPY is a memecoin on the Solana network based on the Web 2 meme "Happy Cat" and has official IP licensing. The high number of holders is due to an airdrop to Solana phone users.

5. Jarvis: Jarvis is a memecoin on the Solana network, featuring the concept of Iron Man's fictional assistant.

6. KEYCAT: KEYCAT a memecoin on the Base network became a full community takeover project on March 28, 2024. It features the 1978 original keyboard cat meme, where the meme format plays a clip of the keyboard cat after a person makes a mistake, adding a humorous effect.

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:

  • Current BTC Transaction Fee: 4 satoshis/byte
  • Fees have seen a slight increase, but the overall trend remains sluggish over historical periods.

Fractal Bitcoin Gas Fee Update:

  • Current Transaction Fee: 2 satoshis/byte
  • The recent trend in fees remains consistently low.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

  • Current Price: $34.94
  • 24-Hour Change: -3.44%
  • Market Cap: $733.82M

DOG:

  • Current Price: $0.003984
  • 24-Hour Change: -9.79%
  • Market Cap: $397.61M

FB:

  • Current Price: $4.58
  • 24-Hour Change: +28.75%
  • Market Cap: $25.05M

Today's Popular Projects:

FBmainchain: An inscription on the Fractal Bitcoin network, featuring the Fractal Bitcoin mainnet.

  • Current Market Cap: $50.88M
  • 24-Hour Trading Volume: $165.97K
  • 24-Hour Change: -12.4%
  • Number of Holders: 10,149

fifa: An inscription token featuring the International Federation of Association Football (FIFA).

  • Current Market Cap: $6.34M
  • 24-Hour Trading Volume: $2.56M
  • 24-Hour Increase: +45.68%
  • Number of Holders: 2,633

PUPS•WORLD•PEACE: A Rune token featuring dogs and world peace, with related cultural products like memes, an album, and an AI-powered radio station called "Puppet Public Relations Radio." The project carries an interesting narrative with cultural depth.

  • Current Market Cap: $255.22M
  • 24-Hour Trading Volume: $385.44K
  • 24-Hour Increase: +4.31%
  • Number of Holders: 10,046

Performances of today's top three tracks

RWA: Overall daily sector change: +0.78%

1. MPL: Maple Finance is a decentralized institutional capital market that provides undercollateralized loans to institutional borrowers and fixed-income opportunities for lenders. The protocol is governed by the Maple Token (MPL), which allows token holders to participate in governance, share fee revenue, and provide equity insurance for the lending pool.

  • Daily Increase: 19.92%
  • Current Price: $32.94
  • Current Market Cap: $258.07M
  • 24-Hour Trading Volume: $13.71M

2. LMR: Lumerin Protocol is an open-source project dedicated to decentralized data flow routing. Its first development project is the Lumerin Hashpower Market, a peer-to-peer platform that makes Bitcoin hash power tradable and liquid, unlocking mining profitability, and providing more opportunities globally to access capital and hash power.

  • Daily Increase: 19.65%
  • Current Price: $0.01839
  • Current Market Cap: $11.49M
  • 24-Hour Trading Volume: $200.75K

3. VSYS: V Systems is a universal blockchain database for decentralized applications. Led by the inventor of PoS, Sunny King, V Systems aims to provide scalable and persistent decentralized database cloud technology with high finality, performance, and the highest resistance to 51% attacks.

  • Daily Increase: 18.97%
  • Current Price: $0.00155
  • Current Market Cap: $4.71M
  • 24-Hour Trading Volume: $917.26K

Layer1: Overall daily sector change: +0.45%

1. MTRG: Meter.io is a decentralized Ethereum scaling solution that integrates the advantages of PoW and PoS, using PoW for minting and electricity price-linked stablecoins, and PoS based on HotStuff consensus for processing transactions while being resistant to MEV and transaction frontrunning. Meter.io aims to be a highly decentralized and high-performance Ethereum sidechain.

  • Daily Increase: 70.05%
  • Current Price: $0.4974
  • Current Market Cap: $13.55M
  • 24-Hour Trading Volume: $356.63K

2. FX: Function X is a scalable, open, and decentralized ecosystem that allows everyone to fully build on and for blockchain.

  • Daily Increase: 34.86%
  • Current Price: $0.22893
  • Current Market Cap: $176.68M
  • 24-Hour Trading Volume: $798.72K

3. WIT: Witnet is a decentralized oracle that enables smart contracts to access a variety of valuable data sets and securely prove and deliver this information through its powerful crypto-economic guarantees.

  • Daily Increase: 20.68%
  • Current Price: $0.0028
  • Current Market Cap: $3.73M
  • 24-Hour Trading Volume: $6.69K

Payment: Overall daily sector change: +0.18%

1. NIM: Nimiq is a unique open-source payment system and cryptocurrency. It empowers everyone with decentralized yet simple payment capabilities.

  • Daily Increase: 15.68%
  • Current Price: $0.00179
  • Current Market Cap: $22.4M
  • 24-Hour Trading Volume: $178.61K

2. CIRUS: Cirus Foundation focuses on Web3 solutions, providing personal data monetization and multi-chain wallet services. Its mission is to accelerate the ownership economy by establishing an entrance for individuals to own, manage, and monetize their greatest digital asset (data).

  • Daily Increase: 13.36%
  • Current Price: $0.00492
  • Current Market Cap: $1.06M
  • 24-Hour Trading Volume: $191.46K

3. KIV: The Klever application is a simple and secure p2p crypto wallet that supports blockchains, including Bitcoin (BTC), Tron (TRX), Ethereum (ETH), and other top tokens, coins, and crypto assets.

  • Daily Increase: 4.77%
  • Current Price: $0.002
  • Current Market Cap: $18.03M
  • 24-Hour Trading Volume: $769.68K

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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