Headline
▌SEC Delays Decision on Spot Ethereum ETF Options Again
According to an October 11 filing, the SEC has again delayed its decision on spot Ethereum ETF options. The filing states that the SEC is delaying its decision on the proposed rule change that would allow the Cboe exchange to list options related to several popular spot Ethereum ETFs, with the agency's deadline pushed back from October 19 to December 3. Bloomberg industry research analyst James Seyffart said BTC ETF options are likely to launch in the US in the first quarter of 2025.
▌Scroll Airdrop Allocation Disappoints Users
Scroll announced that 15% of the total token supply will be used for future airdrops, with 7% to be distributed on October 22. However, users are disappointed with the 5.5% allocation to the Binance Launchpool, feeling it is unfair. While Scroll stated that Binance can help it achieve global distribution, many users question this strategy, believing it benefits large investors more. The total supply of SCR is 1 billion tokens, and users hope for a fairer distribution mechanism to reflect their contributions and efforts.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $62,615.53, with a daily change of +3.9%;
ETH's latest trading price is $2,437.51, with a daily change of +2.2%;
BNB's latest trading price is $573.97, with a daily change of +1.8%;
SOL's latest trading price is $145.95, with a daily change of +4.7%;
Doge's latest trading price is $0.1108, with a daily change of +4.4%;
XRP's latest trading price is $0.5386, with a daily change of +1.5%.
Policy
▌Biden: Authorized to Provide Trump with Everything He Needs
When asked about Trump's security requirements, US President Biden stated that he has authorized providing Trump with everything he needs. Previous reports indicated that, facing threats from Iran, Trump requested the use of military aircraft and vehicles for security.
Blockchain Applications
▌Shenyu: Calls for dApps and Plugin Wallets to Add Permit Signature Switch
On October 11, Cobo co-founder and CEO Shenyu posted on social media, calling for dApps and plugin wallets to add a Permit signature switch.
Cryptocurrencies
▌Trump Family Project WLFI: Public Sale to Open to Whitelist Users on October 15
The Trump family project World Liberty Financial (WLFI) posted on the X platform that "the public sale will start on October 15, open to all eligible people who have passed the whitelist."
▌Analysis: Macro Factors Affecting Crypto Performance Shifting from Monetary Policy to US Election
Coinbase analysts David Duong and David Han stated that "although Bitcoin's price performance has been lackluster this week, market sentiment has remained largely unchanged, with the past week's perpetual contract funding rates and open interest remaining stable, indicating this." Coinbase analysts pointed out that the macro factors affecting crypto performance are shifting from monetary policy to the outcome of the US election, despite the recent rise in CPI and core PPI, the market's expectations for rate cuts remain largely stable.
▌FOX Reporter: Ripple Founder Donated $1 Million in XRP to Harris Political Action Committee
FOX reporter Eleanor Terrett posted on social media that "Ripple founder Chris Larsen has made the first recorded cryptocurrency donation to Kamala Harris. According to new Federal Election Commission (FEC) filings, Larsen donated $1 million in XRP to one of the main super PACs supporting Harris, Future Forward USA."
GSR Analyst: Bitcoin Price Volatility Mainly Driven by Sentiment, Not Fundamentals
GSR analysts stated that Bitcoin's unpredictable price fluctuations are mainly driven by sentiment, not fundamental factors. Market observers are now focused on four key factors that may impact Bitcoin's price: the US election, central bank monetary policies, the US economy, and the US government's sale of Bitcoin seized in the Silk Road case.
Important Economic Dynamics
▌US Stock Indexes Collectively Closed Higher
The three major US stock indexes collectively closed higher, with the Dow Jones up 0.97%, the Nasdaq up 0.33%, and the S&P 500 up 0.61%. Large tech stocks had mixed results, with Tesla down over 8%.
▌US 1-Year Credit Default Swap Rises to 48 Basis Points, Highest Since November 2023
S&P Global Market Intelligence data shows the US 1-year credit default swap has risen to 48 basis points, the highest level since November 2023.
▌Fed's Logan: US Economy Remains Strong and Stable
Federal Reserve's Logan stated that recent inflation data is "very welcome"; gradually reducing policy restrictions can also help cool inflation; the US economy remains strong and stable; it is important to gradually adjust policy towards a neutral rate; the banking industry must continue to diversify its financing channels; the Fed's discount window is an important source of bank financing.
▌US Stock Indexes Turn Green, Dow Jones Extends Gain to 0.57%
The market shows the three major US stock indexes have turned green, with the Dow Jones extending its gain to 0.57%. Bank stocks are broadly higher, with Wells Fargo (WFC.N) up 5.7%, Bank of America (BAC.N), JPMorgan Chase (JPM.N) up over 5%, Citigroup (C.N) up over 3%, and Bank of New York Mellon (BK.N) up over 2%.
▌Fed Meeting Minutes: Risks of Tightening Too Late or Too Early
Some participants emphasized that delaying or reducing policy restrictions too little could risk excessively weakening economic activity and employment. Some participants particularly stressed the costs and challenges of addressing such weakening once it is fully underway. However, a few participants stated that tightening policy too early or too much could stall or reverse progress in fighting inflation. Some participants noted that the uncertainty around the long-run neutral rate level complicates the assessment of the appropriate degree of policy restriction, and they believe a gradual reduction in policy restriction is appropriate.
▌95.6% Probability of 25BP Fed Rate Cut in November, 4.4% Probability of No Cut
According to the CME "Fed Watch": the probability of the Fed cutting 25 basis points in November is 95.6%, and the probability of keeping the current rate unchanged is 4.4%. The probability of a cumulative 50 basis point cut by December is 84.1%, the probability of a 75 basis point cut is 0%, and the probability of a 100 basis point cut is 0%.
Jinse Encyclopedia
Rollups are a way of processing transactions on Layer 2 protocols to free up precious space on the base layer. Rollups will batch transactions on the second layer, sometimes bundling dozens or more, and then roll them up together before sending the data back to Layer 1. There are two main types of Rollups: Optimistic and Zero-Knowledge (ZK) proofs.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles solely for informational reference, and does not provide actual investment advice. Please everyone establish the correct investment concept and be sure to improve risk awareness.
