Headline
▌Poll: Trump leads Harris in most swing states
According to the RealClearPolitics polling aggregation website, as of November 5 local time, Trump leads Harris by 2.8 percentage points in Arizona, 1.3 percentage points in Georgia, 1.2 percentage points in North Carolina, 0.6 percentage points in Nevada, and 0.4 percentage points in Pennsylvania. Harris only has an advantage in two states - leading by 0.5 percentage points in Michigan and 0.4 percentage points in Wisconsin.
▌Meme coin DMAGA surges over 100% in 5 minutes
Musk posted on the X platform that "Dark MAGA is assembling." According to GMGN monitoring, the Meme coin DMAGA on the Solana chain surged over 100% in 5 minutes, with a market cap exceeding $18 million.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $69,385.82, with a daily change of +2.3%;
ETH's latest trading price is $2,424.83, with a daily change of +1.1%;
BNB's latest trading price is $563.53, with a daily change of +1.9%;
SOL's latest trading price is $166.84, with a daily change of +5.4%;
Doge's latest trading price is $0.1704, with a daily change of +7.4%;
XPR's latest trading price is $0.5142, with a daily change of +2.2%.
Policy
▌Apple to face its first DMA-related fine in the EU
According to informed sources, Apple will face its first fine related to the Digital Markets Act (DMA) in the EU. The punishment will target the company's anti-competitive practices in the App Store. The reason is that Apple has not been able to allow app developers to direct users to make payments outside the App Store. The amount may be 1.8 billion euros (equivalent to $2 billion).
▌Musk plans to spend election night with Trump
Billionaire Elon Musk plans to spend election night with former President Donald Trump, participating in watching the vote count. Musk will celebrate at Mar-a-Lago with Trump and a few others. As a super fan of Trump, Musk has spent over $119 million to support his campaign.
Democrats are concerned that Musk may spread misinformation on the social media platform X, undermining voter confidence in the election.
Blockchain Applications
▌Prediction market Kalshi tops Apple App Store free app chart, Polymarket ranks second
With the 2024 US presidential election approaching, two prediction platforms have topped the Apple App Store charts.
According to data from app analytics platform SensorTower, the regulated prediction market platform Kalshi is currently ranked number one in the Apple Finance category and number one in the free apps category. Meanwhile, Polymarket has also risen to second place in the free apps ranking. This is the highest ranking for these two apps to date.
▌SynFutures launches "Perp Launchpad" and $1 million funding program
The decentralized derivatives startup SynFutures has launched the "Perp Launchpad", the first tool platform dedicated to creating perpetual futures markets, supporting futures trading for any asset, including meme coins. The platform is built on the Ethereum Layer 2 Base, aiming to provide market liquidity and risk hedging for new projects, as well as passive rewards for liquidity providers. SynFutures has also launched a $1 million funding program to support the token demand and utility of new projects, including financial support, liquidity, and marketing assistance. Since expanding to Base in July, SynFutures has accounted for over half of the derivatives trading volume on the platform.
Cryptocurrencies
▌CryptoQuant: BTC selling pressure on election day may be lower than March highs and 2020 levels
According to CryptoQuant, the amount of Bitcoin flowing into centralized cryptocurrency exchanges today is significantly lower than previous US election days, suggesting that the selling pressure around election activity may be lower.
Julio Moreno, head of research at CryptoQuant, said: "Compared to the last election and early 2024, the selling pressure on Bitcoin from traders and investors transferring funds to trading platforms seems lower. Currently, the daily Bitcoin inflow to exchanges is around 45,000 BTC, compared to a peak of 95,000 BTC in March 2024 and 73,000 BTC before the 2020 US presidential election."
Moreno added that the relative strength of Bitcoin compared to Altcoins like Ethereum indicates that investors prefer Bitcoin over other assets, especially in uncertain market conditions.
▌Over 1,000 US election-themed meme coins have been issued on Solana in the past 24 hours
According to Dextools data, over 1,000 US election-themed meme coins have been issued on Solana in the past 24 hours. More than 40 tokens related to presidential candidate Donald Trump have been issued on the Ethereum blockchain.
Early-launched political meme coins have seen a surge in trading volume, including MAGA and KAMA themed on Kamala Harris. MAGA, launched in August 2023, saw its trading volume spike 27% in 24 hours, with a market cap exceeding $150 million. KAMA rose 150% on November 1, but has since fallen 50%, with a market cap of $11 million.
▌CoinShares: MicroStrategy's $42 billion Bitcoin acquisition strategy carries certain risks
In a research blog, CoinShares stated that MicroStrategy's (MSTR) ambitious plan to acquire $42 billion worth of Bitcoin (BTC) is not without risk.
CoinShares said that MicroStrategy's ability to successfully execute its Bitcoin acquisition plan depends on various factors. Analysts believe the software company needs to "maintain favorable financing conditions and demand for its convertible notes." The cost of repaying debt is also rising. CoinShares pointed out that in 2021, MicroStrategy was able to raise debt with zero-coupon convertible bonds, but the coupon rates on these bonds have been increasing with the issuance of new bonds. CoinShares said the company's "Bitcoin business may have outgrown its software business" and added that cash flows from the traditional business may not be sufficient to cover future coupon payments.
▌ETH/BTC market cap ratio drops to 24.52%, the lowest since April 2021
According to data from The Block, the ETH/BTC market cap ratio has dropped to 24.52%, the lowest level since April 2021, down significantly from 32.7% at the beginning of 2024.
This indicator is used to measure the relative market sentiment and capital flows between the two major crypto assets. The decline reflects Bitcoin's growing dominance in terms of price performance and institutional interest, especially as investors continue to gain exposure to cryptocurrencies through ETF products. Traditional financial firms have shown a clear preference for Bitcoin, with the BITO and other Bitcoin ETFs attracting significant inflows, while Ethereum ETF products have garnered relatively less interest.
Key Economic Dynamics
▌Trump Media & Technology Group (DJT.O) continues to surge after-hours, up over 6.5%
After the release of the Edison Research exit poll, the Trump Media & Technology Group (DJT.O) continued to surge in after-hours trading, currently up over 6.5%.
▌Indiana and Kentucky become the first states to conclude presidential election voting
At 6 PM Eastern Time on November 5 (7 AM Beijing Time on November 6), except for a few congressional districts, the states of Indiana and Kentucky closed their polling stations, becoming the first two states to complete voting in the 2024 US presidential election, and the vote counting process began immediately. November 5 was the official voting day for the US presidential election, but due to time zone differences and varying state regulations, the voting end times differed across states. The latest state to finish voting was Alaska, which ended at 1 AM Eastern Time on November 6 (2 PM Beijing Time on November 6). Hawaii was the second-to-last state to finish voting, ending at 12 AM Eastern Time on November 6 (1 PM Beijing Time on November 6).
▌CNN Exit Poll: About Three-Quarters of Voters Have a Negative View of the State of the US
The CNN exit poll shows that about three-quarters of voters in this year's presidential election have a negative view of the state of the US, with only about a quarter expressing satisfaction or excitement. Over 40% of voters feel dissatisfied, and 30% feel angry. However, over 60% of voters believe the best days of the US are still to come, while a third think they are in the past. President Joe Biden's approval rating is low, with only about 40% of voters approving of his performance.
Jinse Finance
▌What is the Aptos blockchain?
Aptos aims to become a fast, scalable, and reliable blockchain that supports decentralized applications (DApps), with the goal of accelerating the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It aims to achieve high throughput and low latency, meaning it can process around 160,000 transactions per second and verify them in less than 1 second on average. Aptos natively integrates the Move language to provide these fast, secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything needed to "build your big idea," even combining it with artificial intelligence to make it easy for both beginners and experts to use Web3.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles solely for informational purposes and not as actual investment advice. Please everyone should establish the correct investment concept and be highly risk-aware.
