Headlines
▌Bitwise CIO: Bitcoin May Reach $100,000 Earlier Than Expected
Matt Hougan, Chief Investment Officer of asset management firm Bitwise, said that with the influx of institutional funds into Bitcoin exchange-traded funds (ETFs), the instability of the US economy, and the US presidential election, Bitcoin may reach six figures earlier than expected.
Matt Hougan emphasized the growing support of the Republican Party for cryptocurrencies, as well as the concerns about inflation that are driving investors to turn to Bitcoin. He predicted that with clear regulation and the supply constraints brought about by the Bitcoin halving, the Bitcoin price will soar rapidly. (Bitcoin.com)
▌Standard Chartered: Solana May Rise 400% If Trump Wins the Presidential Election
According to Watcher.Guru, Standard Chartered Bank said that if Trump wins the presidential election, Solana may rise 400%.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $68,962.59, with a daily change of +1.0%;
ETH's latest trading price is $2,743.30, with a daily change of +3.6%;
BNB's latest trading price is $605.76, with a daily change of +1.4%;
SOL's latest trading price is $167.78, with a daily change of +5.1%;
DOGE's latest trading price is $0.1417, with a daily change of -2.1%;
XPR's latest trading price is $0.5474, with a daily change of +0.7%.
Policy
▌El Salvador's Current Bitcoin Holdings are 5,908.7 BTC
Mempool data shows that El Salvador currently holds 5,908.7 BTC, worth about $404 million.
Blockchain Applications
▌Daram's Fair Launch Method is Widely Imitated, with Similar Methods Appearing on Ethereum Mainnet and Other Chains to Launch New Meme Coins
On October 21, on-chain data showed that the current market capitalization of the Meme coin Daram on the Ethereum mainnet is $16 million, with a 24-hour turnover rate of 65% and a trading volume of $12.11 million. Since its launch, the trading volume has exceeded $60 million in 9 days, and it has topped the Meme trend list for consecutive days.
▌Vitalik Buterin Cites Centralization of Staking as "One of the Biggest Risks" in Ethereum in His "Disaster Upgrade" Outline
Ethereum co-founder Vitalik Buterin, in a recent blog post, outlined the approaches the Ethereum community might take to minimize the centralization of proof-of-stake, which is part of the "disaster upgrade" of the blockchain project. Buterin said this issue is "one of the biggest risks" to the Ethereum network and outlined several possible ways to prevent the concentration of capital in staking and the supply. (The Block)
Cryptocurrencies
▌If Bitcoin Breaks $69,000, the Cumulative Liquidation Intensity on Major CEXs Will Reach $247 Million
According to Coinglass data, if Bitcoin breaks $69,000, the cumulative liquidation intensity on major CEXs will reach $247 million.
Note: The liquidation chart does not show the exact number of contracts to be liquidated or the exact value of the contracts to be liquidated. The bars on the liquidation chart show the relative importance of each liquidation cluster to the neighboring liquidation cluster, i.e., the intensity.
▌Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion
According to TechCrunch founder Michael Arrington, the payment company Stripe has acquired the stablecoin platform Bridge for $1.1 billion.
Bridge is Stripe's largest acquisition to date and the largest acquisition in the history of the cryptocurrency industry. It had previously raised $58 million from investors, with a previous valuation of $200 million.
The software provided by Bridge helps businesses accept stablecoin payments, marking an expansion of Stripe's cryptocurrency adoption work.
▌Data: Total Value Locked in DeFi Protocols Reaches $89.56 Billion
According to Defi Llama data, the total value locked (TVL) in DeFi protocols has reached $89.56 billion. The top five TVL rankings are Lido ($26.26 billion), AAVE ($13.52 billion), EigenLayer ($11.65 billion), ether.fi ($6.591 billion), and MakerDAO ($6.14 billion).
▌Bitcoin's Market Dominance is Currently 54.8%
According to CoinGecko data, the current cryptocurrency market capitalization is $2.47 trillion, with a 24-hour trading volume of $64.526 billion. Bitcoin's market dominance is currently 54.8%, and Ethereum's market dominance is 13.1%.
▌The Current Bitcoin Network Hashrate is 693.46 EH/s
According to BTC.com data, the current Bitcoin network hashrate is 693.46 EH/s, with a 24-hour transaction rate of 8.2 transactions/s. The current network difficulty is 92.05T, and the next difficulty adjustment is expected to increase by 2.53% to 94.38T, with 2 days until the adjustment.
Important Economic Dynamics
▌The Probability of a 25BP Rate Cut by the Fed in November is 99.3%
According to the CME "Fed Watch": the probability of a 25 basis point rate cut by the Fed in November is 99.3%, the probability of a 50 basis point rate cut is 0.7%, and the probability of keeping the current rate unchanged is 0%.
The probability of a cumulative 25 basis point rate cut by December is 24%, the probability of a cumulative 50 basis point rate cut is 75.5%, and the probability of a cumulative 75 basis point rate cut is 0.5%.
Jinse Encyclopedia
Sharding is a method of dividing the ledger into smaller parts (called shards). But proto-danksharding is one of the most opaque terms in the cryptocurrency vocabulary. The term doesn't have any particular meaning. Is "proto" an abbreviation for "prototype"? Is this the same "dank" folder as your favorite meme? Both of these guesses might be reasonably plausible, but they would both be wrong. Protolambda and Dankrad Feist first proposed this idea, and they named it after themselves - proto-danksharding is a type of transaction that accepts the aforementioned "blobs". The solution using blobs aims to overcome Ethereum's long-standing high gas fees and low transaction throughput.
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 increase risk awareness.
