Headline
▌BTC Breaks $89,000
The market shows that BTC has broken through $89,000, currently trading at $89,030.4, with a 24-hour increase of 10.79%. The market fluctuates greatly, please manage the risks.
▌MicroStrategy's Bitcoin Holdings Currently Have Unrealized Gains of Approximately $12.9 Billion
At the current BTC price of $88,875.7, MicroStrategy's Bitcoin holdings have unrealized gains of approximately $12.9 billion. Previously, it was reported that as of November 11, 2024, MicroStrategy holds a total of 279,420 Bitcoins, with a total purchase cost of approximately $11.9 billion and an average price of approximately $42,692.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $88,860.74, with a daily change of +10.3%;
ETH's latest trading price is $3,360.26, with a daily change of +5.4%;
BNB's latest trading price is $657.11, with a daily change of +4.6%;
SOL's latest trading price is $221.09, with a daily change of +5.0%;
Doge's latest trading price is $0.346, with a daily change of +22.6%;
XRP's latest trading price is $0.346, with a daily change of +4.4%.
Policy
▌TD Cowen: Bipartisan Crypto Bill More Likely to Pass Under Trump, But "Not a Top Priority"
Researchers at TD Cowen wrote in a report on Monday that bipartisan crypto legislation covering stablecoins and market structure would be more likely to pass during a second Trump term, but "not a top priority." The researchers believe that "given the Trump team's focus on extending tax cuts and resolving tariff and trade issues, crypto is not going to be a top priority for them."
The report states that another factor that could delay the political process is "reasonable concerns about AML/BSA compliance" and the potential role of cryptocurrencies in evading sanctions, drug/human trafficking, and terrorist financing. The analysts stated: "The more the industry ignores government oversight, the harder it will be to reach an agreement that can pass both chambers."
▌Trump Seeks Crypto-Friendly Candidates for Key Financial Positions
According to The Washington Post, President-elect Trump is preparing to take a more lenient stance on cryptocurrencies, and is looking to appoint crypto-friendly candidates to key positions, with his senior advisers consulting crypto executives on potential changes to federal policy. Early discussions have focused on a range of financial regulatory agencies, including the SEC. According to five people familiar with the matter, Trump's advisers have considered installing current regulators, former federal officials, and financial industry executives in important leadership roles, many of whom have publicly expressed support for cryptocurrencies. They warned that the discussion process is still in the early stages, and the list of candidates is still evolving.
▌US Judge Denies Former Celsius CEO's Request to Dismiss Fraud, Manipulation Charges
The former CEO of the crypto platform Celsius, Alex Mashinsky, is facing criminal charges in the US, and his legal team failed to dismiss two charges related to commodity fraud and manipulation of the Celsius (CEL) token price.
Judge John Koeltl has filed a document with the US District Court for the Southern District of New York, ruling that the arguments made by Mashinsky's legal team to dismiss the charges were "either frivolous or without merit." The judge denied the motion to dismiss the two charges, leaving seven counts in the indictment, with Alex Mashinsky's trial set to begin in January 2025.
Blockchain Applications
▌Aave Labs and Lens Parent Avara Launch Family Wallet Crypto Wallet
Aave Labs and Lens' parent company Avara have announced the launch of the Family Wallet, which the team describes as a "secure, user-friendly crypto wallet for everyone" that "provides in-app messaging, NFT support, DeFi integration, and advanced security features."
Previously reported, about a year ago, Aave Companies acquired the development team behind Family, Los Feliz Engineering, and renamed it Avara.
Cryptocurrencies
▌OpenAI CEO: I'm Confident in the Bright Future of Cryptocurrencies
OpenAI CEO Sam Altman posted on the X platform: "Over the past year, Worldcoin has made amazing progress, and I'm incredibly proud of the team, especially alexblania's leadership! A rare combination of vision and execution. Overall, I'm confident in the bright future of cryptocurrencies!"
▌Bitcoin Market Cap Surpasses Silver Market Cap
The Bitcoin market cap has surpassed the Silver market cap, becoming the world's 8th largest asset, with a Bitcoin market cap of $1.741 trillion and a Silver market cap of $1.735 trillion.
▌$576 Million in Liquidations Across the Network in the Past 24 Hours
CoinGecko data shows that the total cryptocurrency market cap has surpassed $3 trillion, currently at $3.13 trillion, with a 24-hour increase of 6.7%. BTC's market dominance is 56.4%, and ETH's is 13%.
According to Coinglass data, there were $576 million in liquidations across the network in the past 24 hours, including $216 million in long liquidations and $360 million in short liquidations.
▌Grayscale ETH Net Inflow of $63.3 Million Yesterday, Highest Single-Day Inflow Record
According to Farside Investors data, the inflow data for US spot Bitcoin ETFs and spot Ethereum ETFs (November 11) is as follows:
Spot Bitcoin ETFs: GBTC net inflow of $24.2 million; BTC net inflow of $28.2 million;
Spot Ethereum ETFs: ETH net inflow of $63.3 million, a new record for the highest single-day inflow.
Important Economic Dynamics
▌65.1% Probability of 25bps Rate Cut by the Fed in December
According to the CME "Fed Watch", the probability of the Fed maintaining the current interest rate in December is 34.9%, and the probability of a cumulative 25bps rate cut is 65.1%. The probability of maintaining the current interest rate in January 2023 is 23%, the probability of a cumulative 25bps rate cut is 54.8%, and the probability of a cumulative 50bps rate cut is 22.3%.
▌US Congressman: If 2017 Tax Cuts Are Made Permanent, Fed May Reduce Rate Cuts
US Congressman Nouriel Roubini stated that if the 2017 tax cuts are made permanent, the Fed may reduce rate cuts. (Golden Ten)
Jinse Encyclopedia
Ink is a layer-2 bridge being developed by Kraken, aimed at improving the efficiency of decentralized finance (DeFi) by increasing transaction speed, reducing costs, and enhancing flexibility. Kraken's Ink seamlessly integrates centralized and decentralized environments, providing users with all the necessary tools and services while mitigating common challenges associated with these environments. The solution runs as a layer-2 (L2) solution on Ethereum, relieving the pressure on the layer-1 (L1) chain.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles solely for informational purposes and does not provide any actual investment advice. Please everyone establish the correct investment concept and be sure to improve risk awareness.
