Headlines
FIL breaks through $3
Market data shows that FIL has broken through $3 and is currently trading at $3.01, with a 24-hour increase of 117.2%. The market is highly volatile, so please manage your risk accordingly.
Meta: More than $600 billion will be invested in the US by 2028.
Meta Platforms says it will invest more than $600 billion in the U.S. by 2028 to support the expansion of artificial intelligence technologies, infrastructure, and workforce.
Market Trends
As of press time, according to CoinGecko data:
The price of BTC (Bitcoin) is approximately $102,861 USD , with a 24-hour change of approximately +1.6% .
The price of ETH (Ethereum) is approximately $3,418.18 USD , with a 24-hour change of approximately +2.9% .
The price of BNB (BNB) is approximately $989.05 USD , with a 24-hour change of approximately +3.8% .
The price of SOL (Solana) is approximately $162.15 USD , with a 24-hour change of approximately +3.5% .
The price of DOGE (Dogecoin) is approximately $0.1797 USD , with a 24-hour change of approximately +10.3% .
The price of XRP (XRP) is approximately $2.31 USD , with a 24-hour change of approximately +4.4% .
The price of TRX (TRON) is approximately $0.2929 USD , with a 24-hour change of approximately +3.0% .
WLFI (World Liberty Financial): Approximately US$0.1854 , with a 24-hour change of approximately -12.73% .
HYPE (Hyperliquid): Price around $44.39 , down approximately -1.73% in the last 24 hours.
policy
Record-breaking government shutdown continues, with bipartisan negotiations in the US deadlocked.
According to CCTV News, on November 7th local time, Senate Majority Leader John Thune, a Republican, stated that negotiations with Democrats on restarting the government have "gone off track" and are currently stalled. Thune said the Senate will not vote on the previously pushed bipartisan compromise on the 7th, but will instead consider a bill introduced by Republican Senator Ron Johnson that aims to pay the salaries of federal employees who are required to work during the government shutdown. Two people involved in the Democratic caucus discussions revealed that Democrats are expected to block the bill.
Federal Reserve Governor Milan: Widespread use of stablecoins could increase the risk of hitting the zero lower bound on interest rates.
Federal Reserve Governor Milan stated that the widespread use of stablecoins could increase the risk of hitting the zero lower bound for interest rates, and that large-scale use of stablecoins could lower the neutral interest rate. The rise of stablecoins may also promote the wider use of the US dollar, pushing up its value and causing the Federal Reserve to lower its interest rates.
Senate Democrats have proposed extending ACA subsidies for another year to end the government shutdown .
Senate Democrats have proposed a new plan to end the government shutdown, which includes a one-year extension of the Affordable Care Act (ACA) subsidies, which expire on December 31 (meaning the short-term funding bill will not include any new restrictions, which are precisely what many Republicans have been trying to push for). In addition, Schumer has suggested forming a bipartisan committee to begin work immediately after the government resumes operation to negotiate long-term solutions on subsidy policies and other healthcare reforms.
Trump : I don't know how long the government shutdown will last.
US President Trump said he did not know how long the government shutdown would last, and that the duration of the shutdown depended on the Democrats.
Trump says he hopes to continue meeting with Putin in Budapest .
According to CCTV News, on July 7th local time, US President Trump stated that he hopes to continue his meetings with Russian President Putin in Budapest, the capital of Hungary. He indicated that a meeting with Putin is under discussion. Trump stated that he and Hungarian Prime Minister Orbán agree that the Russia-Ukraine conflict will end in the near future. Trump met with visiting Hungarian Prime Minister Orbán at the White House that day, and the two are expected to discuss trade, energy, and the Ukraine issue.
Blockchain applications
Rift, the first peer-to-peer Bitcoin transaction protocol, raises $8 million from Paradigm.
According to official sources, Rift, the first peer-to-peer Bitcoin transaction protocol, has raised $8 million from Paradigm, with the aim of bringing native Bitcoin transactions to Ethereum and other networks.
▌ Flying Tulip: The certified investor test is now live. Completing the test will grant you whitelist status.
On November 8th, Flying Tulip announced on X that it has launched a certified investor test. The test consists of 10 questions designed to ensure participants understand its new financing model. Passing the test will grant access to the FT whitelist.
Cryptocurrency
Fetch.ai sues Ocean Protocol, alleging improper sale of 263 million FET tokens.
On November 8th, Fetch.ai filed a class-action lawsuit against Ocean Protocol, accusing it of misleading the community and mishandling tokens within the Artificial Intelligence Consortium (ASI). The lawsuit alleges that Ocean transferred approximately 700 million OCEAN tokens, originally promised for community rewards, to a Cayman Islands entity, subsequently converting them into approximately 286 million FET tokens and selling approximately 263 million on the market, causing a drop in FET's price. Fetch.ai's lawyers stated that Ocean misled the token community and merging partners, profiting millions of dollars. Ocean Protocol denies the allegations, claiming the lawsuit is merely social media hype. ASI co-founder Goertzel expressed disappointment with Ocean's actions but stated the consortium will continue to advance decentralized AI development. Previously, Fetch.ai demanded the return of $120 million worth of FET tokens from the Ocean Protocol Foundation to avoid legal disputes.
Pieverse unveils its token economics, with a community participation rate of 27.6%.
On November 8th, payment infrastructure Pieverse released the tokenomics of its native token, PIEVERSE. PIEVERSE is Pieverse's native utility and governance token, primarily used for reducing transaction fees, staking, participating in governance, and payments. The total supply of PIEVERSE is 1 billion, distributed as follows: Community Development (27.6%), Ecosystem Building and Marketing (27.4%), Team and Advisors (20%), Investors (15%), and the Foundation (10%). On October 29th, Binance Wallet launched Pieverse's Pre-TGE event.
Altcoingenerally rose, with FIL surging over 100% in 24 hours.
Market data shows that Altcoin are generally rising, with FIL briefly reaching a high of $3.973 and currently trading at $3.39, a 24-hour increase of 101.2%; STRK is currently at $0.1497, a 24-hour increase of 44.1%; NEAR is currently at $2.85, a 24-hour increase of 40.0%; AR is currently at $7.28, a 24-hour increase of 34.0%; ZEC is currently at $711.67, a 24-hour increase of 32.2%; MINA is currently at $0.2082, a 24-hour increase of 24.5%; and DOT is currently at $3.26, a 24-hour increase of 23.5%. Market volatility is high; please manage your risk accordingly.
Ethereum validator queues surge, with over 1.5 million ETH awaiting staking.
Ethereum's validator queue continues to grow, with approximately 1.5 million ETH currently awaiting staking, while about 2.45 million ETH are in the exit queue awaiting exit. Analysts point out that this trend demonstrates the market's growing confidence in Ethereum's long-term prospects, with validators willing to accept delays and risks in exchange for locked funds and rewards, in order to support network security and reap the rewards.
Important economic developments
Spot gold extended its gains to 1.00% on the day, currently trading at $4017.09 per ounce.
Spot gold extended its gains to 1.00% on the day, currently trading at $4,017.09 per ounce.
The US Federal Reserve Bank of New York's 1-year inflation forecast for October was 3.24%, down from 3.38% previously.
The New York Fed's 1-year inflation forecast for October was 3.24%, down from 3.38% previously.
Golden Encyclopedia
Understanding Ripple Labs' RLUSD Stablecoin
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD is equal to 1 US dollar. Each RLUSD maintains a 1:1 peg. The collateral assets are either US dollar deposits or cash equivalents. On December 10, 2024, RLUSD received regulatory approval. A week later, on December 17, RLUSD officially launched and was listed on crypto exchage.
RLUSD works similarly to other stablecoins primarily pegged to the US dollar, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin. The cryptocurrency can be traded on the Ethereum and XRP Ledger blockchains. The technology and concept of Ripple's new stablecoin are not inherently new. It is a direct competitor to established players like USDT and USDC. Collateral backing ensures price stability and avoids the volatility issues present in some other cryptocurrencies. This reliability allows businesses and traders to trade away from unpredictable price fluctuations. RLUSD is available on the XRP Ledger and Ethereum blockchains. Ripple has committed to stablecoin audits and transparency, and regularly conducts third-party audits of its collateral reserves alongside monthly financial reports. However, details regarding who will perform the audit process have not yet been determined.
