BTC’s market dominance hits 60% - signaling a breakout to $76K

Hot projects + Market overview

I. Mainstream exchange new

• HTX listed LUCE (Official Mascot of the Holy Year) on October 30.
• Among the SOL liquid staking tokens (LSTs) issued by various exchanges, BGSOL ranks first in the number of holders, with 7,193 people staking on-chain. 
• IoTeX, a blockchain platform focused on the Internet of Things (IoT), has partnered with OKX Wallet to announce the launch of the DePIN Super Ecological Season, an initiative that aggregates dozens of DePIN and DeFi projects to launch a joint incentive campaign worth a total of $10 million.
• Gate.io has launched pre-market OTC Trading for the Pump. fun (PUMPFUN) token.
• OKX Ventures, The Open Platform (TOP), and Folius Ventures launched a $10 million Telegram Growth Hub on October 30.
• BNB Chain, in collaboration with Binance Labs and CoinMarketCap Labs, has revealed 35 early-stage Web3 projects participating in the 8th Season of the MVB Accelerator Program.

II. Mainstream projects and trending events

• Lido Finance has integrated the Cross-Chain Interoperability Protocol (CCIP) of Chainlink, a decentralized oracle network, enabling direct staking of $ETH from prominent L2 networks such as Arbitrum and Optimism.
• Consensys, the developer of the encrypted wallet MetaMask, has planned to gradually decentralize, shifting its focus towards converting products into protocols.
• Over Protocol, the L1 blockchain lightweight node protocol has opened up airdrop queries, which will be distributed after the launch of the mainnet.
• Space and Time Labs, a Microsoft-backed company, has announced that SXT Chain, a blockchain built to deliver zero-knowledge (ZK)-proven data to smart contracts, is live in testnet.
• ZKsync community ZK Nation said the ZKsync Ignite Program TPP 001 proposal to distribute 325 million ZK tokens within 9 months has been submitted on-chain.
• Bedrock, a platform focused on enhancing decentralized finance (DeFi) infrastructure, has partnered with Nomic, a decentralized custody solution for Bitcoin, and Babylon, allowing users to stake BTC on Nomic via Babylon.
• Morph, a pivotal consumer layer to accelerate blockchain adoption, has launched its mainnet on Ethereum.
• Base, an Ethereum Layer 2 (L2) scaling solution, has introduced fault proofs to its mainnet.
• Jito, one of the key validators on Solana, has opened its restaking deposits, with an initial deposit limit of 147,000 SOL.
• Ondo Finance, a financial technology firm, has partnered with Wellington Management, one of the world’s largest independent asset, to provide intraday redemption services for tokenized US Treasury funds.
• Libeara, the RWA tokenization platform incubated by Standard Chartered Bank, partnered with FundBridge Capital to launch the Delta Wellington Ultra Short-Term Treasury Chain Fund (aka the ULTRA Fund).
• Tomarket, a Telegram & TON eco-app, has launched its first farming pool product within the Telegram ecosystem. The product allows users to earn points or token airdrops. Tomarket will allocate 80% of the total supply of $TOMA tokens to the community.
• Stablecoin First Digital USD (FDUSD) plans to expand to the Solana network.

III. Financing news

• AI Data Collection Startup Sapien has completed a $10.5 million seed round led by Variant.
• Privacy-focused blockchain project Nillion has completed a $25 million funding round led by Hack VC.

IV. Regulatory news

• The Monetary Authority of Singapore (MAS) has created the Global Finance & Technology Network (GFTN), with tasks including developing a regulatory sandbox framework, piloting digital assets and tokenization, and facilitating the adoption of artificial intelligence (AI).

V. Popular projects 

Market overview

Bitcoin is currently oscillating around $72,000, indicating potential for a further surge. With its market dominance at a new high of 60.09%, BTC is poised for a breakout with a target of $76,000.

Meanwhile, altcoins have breached the downward trend line, signaling a potential shift in momentum following any pullback in Bitcoin's market share.

BBT: Boosting birth rates with token rewards

BabyBoomToken (BBT) is a memecoin on the Binance Smart Chain, designed to incentivize parents planning to have children.

The project supports a step-by-step journey from dating to pregnancy and childbirth, rewarding increasing "SPT" points that can be exchanged for BBT.

BBT has reached a market cap of $39.86 million, ranking 774th.

VISTA: The Ethereum-based Surge

Ethervista, dubbed the Ethereum version of Pump.fun, rapidly gained traction since its launch on September 1, with an initial token price of $0.036.

Interest spiked when a user suggested the developer might be linked to an early Ethereum whale and an assistant professor at ETH Zurich, pushing prices from $0.50 to around $35.

After stabilizing from a 50-day adjustment, Ethervista hit new highs. It distributes profits from Ethereum to liquidity providers who lock in their liquidity for five days, increasing potential earnings as market interest persists. 

VISTA has a market cap of $32.16 million.

MASK: The Web3 gateway

Mask Network, a Web3 portal, connects Web2 users to Web3 by integrating decentralized apps with traditional social networks.

In 2020, Mask launched election-themed NFTs, recently sparking community interest by announcing an airdrop of MASK tokens to NFT holders.

Following the heat, MASK's trading volume has surpassed that of ETH on Upbit, with a current market cap of $320 million.

TROY: Gaming sector heat

TroyWar (TROY), listed on Binance in 2019, is a blockchain RTS tower defense game that blends Metaverse and GameFi elements.

The recent uptick in activity for its token, TROY, has spurred a rebound across the gaming sector.

Notable games like PIXEL, SLP, and ALICE have also experienced varying degrees of price increases, drawing increased scrutiny to the sector's dynamics and potential future movements.

On-chain daily

1. $michi: $michi is a memecoin on the Solana blockchain, featuring an image of a standing cat, and it was announced as a full community takeover.

• On-Chain Token Holding Addresses: 3,332
• Current Price: $0.3619
• Market Cap: $201.1 million
• Official Twitter: https://x.com/michionsolana

2. bbydev: bbydev is a memecoin on the Solana blockchain, claiming its developer is a baby and has uploaded videos in the community.

• On-Chain Token Holding Addresses: 3,314
• Current Price: $0.001145
• Market Cap: $1.1 million
• Official Twitter: https://x.com/i/communities/1851381677538316473

3. mondo: mondo is a memecoin on the Solana blockchain, featuring an artistic image, promoted as the next PEPE.

• On-Chain Token Holding Addresses: 12,764
• Current Price: $0.002732
• Market Cap: $2.7 million
• Official Twitter: https://x.com/solanamondo

4. DOGE: DOGE is a memecoin on the Solana blockchain, an acronym for Department Of Government Efficiency, with the concept proposed by Donald Trump for a government efficiency department.

• On-Chain Token Holding Addresses: 323,510
• Current Price: $0.1792
• Market Cap: $1.7 million
• Official Twitter: https://x.com/_dogesol

5. SHIBU: SHIBU is a memecoin on the Solana blockchain, the DOGE mascot, endorsed by artist and original creator Fantoumi and supported by the owner of Neiro/Kabosu. It has already been listed on Moonshot.

• On-Chain Token Holding Addresses: 6,051
• Current Price: $0.01090
• Market Cap: $10.9 million
• Official Twitter: https://x.com/shibudogemascot

6. JIM: JIM is a memecoin on the Solana blockchain, featuring a naked Jim. The development team will create animated shorts for the character.

• On-Chain Token Holding Addresses: 84,217
• Current Price: $0.003695
• Market Cap: $3.6 million
• Official Twitter: https://x.com/IamNakedJim

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Changes: 

• Current BTC transaction fee: 800 satoshis/byte. 
• The reason for the high Gas Fee is the minting of the MEMENTO•MORI token by Casey, the founder of the Rune protocol, with a total of 100,000 tokens, 50% reserved for airdrops.

Fractal Bitcoin Gas Fee Changes: 

• Current Transaction Fee: 40 satoshis/byte
• Gas Fee prices have plummeted significantly, showing a recent downtrend.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

• Current Price: $34.88
• 24-Hour Change: -2%
• Market Cap: $731.96M

DOG:

• Current Price: $0.004368
• 24-Hour Change: -10.53%
• Market Cap: $436M

FB:

• Current Price: $5.49
• 24-Hour Change: +7%
• Market Cap: $26.92M

Today's Popular Projects:

FBmainchain: FBmainchain is a fractal Bitcoin inscription concept, featuring the main chain of fractal Bitcoin.

• Current Market Cap: $38.4M
• 24-Hour Trading Volume: $6,944
• 24-Hour Increase: +51%
• Number of Holders: 6,709

𝛑: 𝛑 is an inscription token and one of the current leaders in inscriptions. Over the past month, its market cap has shown an overall trend of fluctuating and increasing, with a large community size and an increasing number of holders.

• Current Market Cap: $62M
• 24-Hour Trading Volume: $305K
• 24-Hour Increase: +4%
• Number of Holders: 27,688

MEMENTO•MORI: MEMENTO•MORI is a Rune token issued by Casey, the founder of the Rune protocol.

• Current Market Cap: $14.5M
• 24-Hour Trading Volume: $3.8M
• Not yet minted completely
• Number of Holders: 5,048

Performances of today's top three tracks

RWA: Overall daily sector change: +1.68%

1. VSYS: V.SYSTEMS is a blockchain infrastructure provider focused on databases and cloud services.

• Daily Increase: 18.97%
• Current Price: $0.00155
• Current Market Cap: $4.71M
• 24-Hour Trading Volume: $963.49K
• Recent News: Participated in Hong Kong FinTech Week 2024.

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: 8.60%
• Current Price: $1,250
• Current Market Cap: $1.09B
• 24-Hour Trading Volume: $17.84M
• Recent News: Distributing SKY event rewards on the Sky app until the end of 2024.

3. PRCL: Parcl is a real estate derivatives protocol that allows users to invest in real properties through their price index, which replicates the price per square foot in various communities.

• Daily Increase: 2.60%
• Current Price: $0.2647
• Current Market Cap: $41.48M
• 24-Hour Trading Volume: $17.84M

DeFi: Overall daily sector change: +0.41%

1. BOND: BarnBridge is a DeFi risk tokenization protocol. SMART Yield provides fixed and leveraged variable yields for stablecoins deposited into underlying lending markets. SMART Exposure automatically manages user positions between any two ERC-20 assets at a set ratio.

• Daily Increase: 44.43%
• Current Price: $2.152
• Current Market Cap: $20.86M
• 24-Hour Trading Volume: $1.24M

2. INST: Instadapp is a DEX aggregator that uses a smart wallet layer and bridging contracts to aggregate major DeFi protocols.

• Daily Increase: 32.25%
• Current Price: $1.763
• Current Market Cap: $145.54M
• 24-Hour Trading Volume: $1.09M
• Recent News: Integrated OKX wallet DEX API in early October.

3. ORN: Orion is a DeFi platform providing B2B + B2C liquidity solutions.

• Daily Increase: 13.23%
• Current Price: $1.053
• Current Market Cap: $36.26M
• 24-Hour Trading Volume: $332.36K

Stablecoin: Overall daily sector change: +0.01%

1. USTC: TerraUSD (UST) is a decentralized and algorithmic stablecoin on the Terra blockchain, pegged to the US dollar.

• Daily Increase: 14.45%
• Current Price: $0.0263
• Current Market Cap: $153.32M
• 24-Hour Trading Volume: $25.18M

2. LUNA: LUNA is the native utility token of the Terra blockchain ecosystem, a decentralized platform that creates stablecoins and aims to facilitate cross-border transactions. Binance Labs is an investor.

• Daily Increase: 2.71%
• Current Price: $0.36
• Current Market Cap: $247.56M
• 24-Hour Trading Volume: $23.64M

3. PAXG: PAX Gold's value follows real-time gold market price movements. One of the co-founders is Rich Teo, the CEO of Paxos in Asia.

• Daily Increase: 0.47%
• Current Price: $2,782
• Current Market Cap: $547.4M
• 24-Hour Trading Volume: $17.39M

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. 

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