BTC breaks through $70,000, Trump family crypto project WLF may issue stablecoin

This article is machine translated
Show original

Headline

BTC Breaks Through $70,000

The market shows that BTC has broken through $70,000, currently trading at $70,000.99, with a 24-hour increase of 2.79%. The market is highly volatile, please manage your risks accordingly.

Trump Family Crypto Project WLF Plans to Issue Stablecoin

Sources say that the Trump family crypto project "World Liberty Financial" (WLF) plans to issue a stablecoin. WLF recently raised $14 million in its initial token sale, and it plans to create and issue its own stablecoin, which is still under development and may take some time to launch.

One source said the team is still determining how to ensure the security of the financial product before bringing it to market. Another source said the team is simultaneously developing the core components of World Liberty Financial, including the stablecoin, to ensure these features can be launched at the appropriate time.


    Market

    As of the time of writing, according to Coingecko data:

    BTC's latest trading price is $69,804.14, with a daily change of +2.7%;

    ETH's latest trading price is $2,562.18, with a daily change of +2.3%;

    BNB's latest trading price is $599.96, with a daily change of +1.9%;

    SOL's latest trading price is $177.85, with a daily change of +0.8%;

    DOGE's latest trading price is $0.1439, with a daily change of +4.9%;

    XPR's latest trading price is $0.1612, with a daily change of +12.1%.


    Policy

    US Media: Bloomberg Owner Has Spent Nearly $100 Million Supporting Harris

    According to a report by The New York Times citing multiple informed sources, former New York City mayor and Bloomberg owner Michael Bloomberg has recently donated $50 million to a non-profit organization supporting US Democratic presidential candidate Harris. The informed sources said that Bloomberg's latest donation went to the non-profit organization Future Forward USA Action. Prior to this anonymous donation, he had already provided $47 million in public political donations to the Democratic Party, ranking second only to George Soros among all Democratic mega-donors. Bloomberg had invested $95 million in the 2018 midterm elections to help the Democrats. Forbes data shows that the 82-year-old Bloomberg's net worth is on par with Bill Gates, around $105 billion.


      Blockchain Applications

      Decentralized Shared Sequencing Layer Astria Launches Mainnet

      The decentralized shared sequencing layer Astria has launched its mainnet. This project is one of the initiatives aimed at achieving decentralization of blockchain "sequencers". Sequencers are part of the Layer 2 network, responsible for aggregating the transactions that occur on the secondary networks, so that they can be recorded on the primary Layer 1 blockchain (such as Ethereum). Astria states that its setup represents "a single, permissionless network that can be shared by multiple rollups, providing settlement (i.e. bridging) and decentralized sequencing, with fast (around 2 seconds) block times and single-slot finality."

      Prediction Market Kalshi to Provide Price Data to Blockchain Oracle Service Provider Stork

      Prediction market Kalshi has announced that it will provide price information to the Stork Labs oracle service network Stork, which will transmit external data to blockchains and decentralized exchanges. This will enable developers to build crypto applications influenced by the Kalshi market, where traders can bet on various events, including the US presidential election.


      Cryptocurrencies

      MicroStrategy 2x Leveraged ETF Surges 225% in Six Weeks Since Listing

      Bloomberg senior ETF analyst Eric Balchunas stated on the X platform that the MicroStrategy 2x leveraged ETF MSTU, launched only 6 weeks ago, has already surged 225%, with a trading volume of $500 million (ranking top 1% among ETFs) and an asset management size of $1 billion, exceeding 1.75 times the initial MSTR ETF listing.

      Tether CEO: Tether Cannot Oppose the US Government

      Tether CEO Paolo Ardoino stated in an interview that the US government can "destroy Tether with a single click". Therefore, Tether cannot oppose the US government. He said: "We may not be the best at showcasing ourselves, but the important thing is that we've got the FBI into Tether's compliance system. We've got the US Secret Service in. We've received thank-you letters from the Department of Justice... We believe we're doing the best we can."

      In addition, Paolo Ardoino said the company is "doing its utmost" to combat the use of illegal cryptocurrencies. He added that USDT's role in illicit finance is "negligible" compared to the US dollar. Ardoino stated that Tether has been actively freezing and blacklisting crypto wallets, and the company collaborates with 180 government agencies worldwide.

      ARKB Sees $59.8M Inflow, ETHE Sees $8.4M Outflow

      According to Farside Investors monitoring data, the capital flows of US spot Bitcoin ETFs and spot Ethereum ETFs on October 28 were as follows:

      Spot Bitcoin ETFs: ARKB saw $59.8M inflow, BITB saw $38.7M inflow, BTC saw $21.6M inflow.

      Spot Ethereum ETF: ETHE saw $8.4M outflow.

      $17 Million in Liquidations Across the Network in the Past 24 Hours, Both Long and Short Positions Liquidated

      Data shows that in the past 24 hours, there were $17 million in total liquidations across the network, including $72.73 million in long position liquidations and $97.55 million in short position liquidations.

      If BTC Breaks New Highs, Cumulative Short Liquidation Intensity on Major CEXs Will Reach $386 Million

      According to Coinglass data, if BTC breaks through the $73,777 historical high, the cumulative short position liquidation intensity on major CEXs will reach $386 million. Conversely, if BTC falls below $68,000, the cumulative long position liquidation intensity on major CEXs will reach $486 million.

      US Ohio Senate Candidate Bernie Moreno Sells Bitcoin to Avoid Conflict of Interest

      US Republican Senate candidate Bernie Moreno claims he has sold his Bitcoin assets to address potential conflicts of interest with the crypto industry. He has received over $40 million in support from the "Protect American Jobs" political action committee in his campaign. Moreno stated that he is proud to have the support of the crypto industry, emphasizing that it is due to alignment with his views, not consensus. Meanwhile, incumbent Senator Sherrod Brown, as the chair of the Banking Committee, has a skeptical stance towards digital assets. This race could become one of the most expensive contests in the 2024 US presidential election.

      Report: Bitcoin Volatility Rises, Election Factors Become Key Drivers

      According to the Bitfinex Alpha report, Bitcoin (BTC) rebounded after volatility reached 6.2% last week, driven by geopolitical factors and the Trump election trade. Election expectations have led to active options trading, and implied volatility after election day may reach 100% daily. Although short-term volatility has increased, Bitcoin has risen 30% from its September low.


              Important Economic Dynamics

              94.8% Probability of 25BP Rate Cut by the Fed in November

              According to the CME "Fed Watch", the probability of the Fed cutting rates by 25 basis points in November is 94.8%, and the probability of maintaining the current rate is 5.2%. The probability of maintaining the current rate in December is 1.3%, the probability of a cumulative 25 basis point rate cut is 27.1%, and the probability of a cumulative 50 basis point rate cut is 71.6%.

              ECB Vice President Guindos: Inflation Will Fall to Target Level Next Year

              ECB Vice President Guindos stated that inflation will fall to the target level next year; the inflation outlook is surrounded by major risks; the economic outlook faces rising risks, and they are tilted to the downside.


                Jinse Encyclopedia

                What is Dynamic Resharding

                Dynamic resharding is a relatively new term, with the marketing team of NEAR Protocol referring to it as the "holy grail of sharding", but it also creates a new vocabulary that is not immediately understandable. Based on the concept of blockchain sharding, resharding occurs when the network adjusts the number of shards based on the load. Overloaded shards can become two shards, while two underutilized shards can become one.

                Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for information reference only and do not constitute actual investment advice. Everyone should establish the correct investment concept and must improve their risk awareness.

                Source
                Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
                Like
                Add to Favorites
                Comments