Options traders see BTC will hit $80K by November

Options traders see BTC will hit $80K by November

Hot projects + Market overview

I. Mainstream exchange news

  • WOO X has launched the MUMU (Mumu the Bull SOL) trading incentive plan, with a total prize pool of 15,000 USDT.
  • Bitget has launched PiggyPiggyCoin (PGC) in pre-market trading.
  • Coinbase International has launched SCR/USDT perpetual contracts.
  • Bitget has partnered with Solayer to launch BGSOL liquid restaking token (LRT), with staking now available
  • SCR is now listed across multiple exchanges: Huobi HTX supports deposits, Bitget offers SCR/USDT perpetual contracts with up to 25x leverage, and Binance has integrated SCR into services like Earn, Buy Crypto, Convert, Margin, and Futures.
  • OKX has listed the Neiro First Neiro on Ethereum (NEIRO) spot trading.
  • Upbit has listed the BONK/USDT spot trading pair on October.

II. Mainstream projects and trending events

  • Solana token issuance protocol Pump.fun has introduced support for video token issuance.
  • Aurum Equity Partners, a private equity firm, has announced the launch of a $1 billion tokenized equity and debt fund on the XRP Ledger (XRPL) network.
  • Ripple’s legal team has been granted a 14-day extension to meet a key court deadline in the ongoing US SEC appeal.
  • Options traders are betting that Bitcoin will hit $80,000 by the end of November, regardless of the US presidential election outcome, according to Bloomberg.
  • Scroll's airdrop application is now live for 90 days.
  • Magic Eden, a leading cross-chain NFT marketplace, has expanded its platform to include BeraChain and ApeChain, increasing the total supported blockchains to nine.
  • Marc Andreessen, a16z co-founder, has described GOAT as the first true convergence of AI and crypto, in a new a16z podcast.
  • The US SEC has approved the NYSE American LLC and CBOE to list options on spot Bitcoin exchange-traded funds (ETFs).

III. Funding news

  • DeFi platform Azura has raised $6.9M in a Seed round led by Initialized.
  • Financial services and treasury management solutions provider for DAOs, Karpatkey, has completed a $7 million funding round participated by AppWorks Ventures of Taiwan.
  • Hata, a licensed crypto exchange in Malaysia, has completed a $4.2M seed round led by Castle Island Ventures and Cadenza Venture.

IV. Regulatory news

  • ​​Ras Al-Khaimah (RAK), a prominent region within the United Arab Emirates (UAE), has introduced a comprehensive legal framework tailored for DAOs operating, offering two distinct models catering to both emerging projects and more established DAOs with treasuries exceeding $1 million.

V. Popular projects 

Market overview

BTC is trading above $66,500 but shows signs of weakness. 

Failure to break $67,946 could trigger a correction, with key support at $64,240.

SKBDI: Internet Meme King

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

Garnering 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 $43.71 million.

GOAT: AI + crypto sensation

GOAT, short for "goatseus maximus," was innovatively created by the AI bot "@truth_terminal." This memecoin melds elements of Greek mythology and Latin, with "Maximus" suggesting "greatest."

Marc Andreessen highlighted GOAT on a podcast on October 23, praising its unique blend of AI and cryptocurrency as a pioneering integration.

This discussion sparked a 22% surge in its value, pushing its market cap to $500 million.

GameFi sector gains momentum

The GameFi sector is showing signs of resurgence, with notable token movements:

  • SLP from Axie Infinity rose by 22%, showing renewed interest in established games.
  • BIGTIME, a major 3A MMORPG, saw a 23% increase amid expectations of a Binance listing.
  • PIXEL, a leading project on Ronin, experienced a 13% rise, with a market cap of $148 million.
  • MAVIA, inspired by Clash of Clans, climbed 10% in 24 hours, reaching a market cap of $50.78 million.

On-chain daily

  1. FLAVIA: FLAVIA is a Solana memecoin launched by Trevor, founder of virtual influencer company Brud. Brud's most famous influencer, Lil Miquela, was named one of Time Magazine's 25 Most Influential People on the Internet in 2018.

  1. KOTO: KOTO is a Solana memecoin associated with Grimes, the renowned Canadian singer and Elon Musk's wife. The project claims KOTO is a KPOP star, visual director, and digital architect.
  • On-Chain Token Holding Addresses: 3,982
  • Current Price: $0.00564
  • Market Cap: $5.6M
  • Official Twitter: https://x.com/koto9x

  1. GNON: GNON is a Solana memecoin featuring the combination of  AI and religious concepts, promoted by lumpenspace. GNON signifies nature or destiny.

  1. SAITAMA: SAITAMA is an Ethereum memecoin featuring Watchdog Man from One Punch Man manga, aligning with the popular dog-themed meme trend in crypto.

  1. JIM: JIM is a Solana memecoin featuring a cute, naked mascot character, known for its high-quality promotional videos on Twitter.

  1. CATGF: CATGF is an AI memecoin on Solana, featuring a sexy cat girl character. The project was announced as a full community takeover and completed its CTO on October 21.

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:

  • Current BTC Transaction Fee: 4 satoshis/byte
  • Gas fees have seen a slight rebound in the last two days.

Fractal Bitcoin Gas Fee Update:

  • Current Transaction Fee: 28 satoshis/byte
  • Gas fees have remained low due to weak price movement.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

  • Current Price: $35.06
  • 24-Hour Change: -2.24%
  • Market Cap: $736.16M

DOG:

  • Current Price: $0.004993
  • 24-Hour Change: -0.94%
  • Market Cap: $499M

FB:

  • Current Price: $6.14
  • 24-Hour Change: -3.24%
  • Market Cap: $26.48M

Today's Popular Projects:

MoonCats:

  • Type: Fractal Bitcoin Inscription
  • Market Cap: $1.18M
  • 24-Hour Trading Volume: $7.7K
  • 24-Hour Increase: -0.77%
  • Number of Holders: 31,933

core:

  • Type: Inscription
  • Market Cap: $5.01M
  • 24-Hour Trading Volume: $8.09K
  • 24-Hour Increase: +1.32%
  • Number of Holders: 13,543

WANKO•MANKO•RUNES:

  • Type: Rune
  • Market Cap: $9.36M
  • 24-Hour Trading Volume: $16.94K
  • 24-Hour Increase: +36.78%
  • Number of Holders: 6,004

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.

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