Today (20/11/2024), the Crypto market continues to witness notable fluctuations as Bitcoin (BTC) reaches a new All-Time High (ATH) at $94,000. BTC is currently trading around $91,800, up nearly 1% in the past 24 hours. According to data from CoinGecko, the market capitalization of BTC is around $1.81 trillion, with a 24-hour trading volume exceeding $86 billion.
The most notable events on November 20
Bitcoin (BTC): US Spot BTC ETFs attract strong capital inflows
- ETF capital flows: US Spot BTC ETFs recorded net inflows of over $600 million on November 19, particularly from the FBTC fund of Fidelity ($256.1 million) and the ARKB fund of ARK Invest ($267.3 million).
- New NASDAQ product: The NASDAQ exchange has officially listed the Spot BTC ETF product with the ticker IBIT of BlackRock, which generated a trading volume of nearly $1.9 billion on its first day.
Ethereum (ETH): ETF capital inflows decline
In contrast to BTC, US ETH ETFs saw net capital outflows of $67.1 million on November 19, mainly from the FETH fund of Fidelity with $46.7 million.
Highlights of other cryptocurrencies
Magic Eden (ME)
- Tokenomics and Airdrop: The leading Non-Fungible Token (NFT) platform on the Solana ecosystem, Magic Eden, has announced its Tokenomics and is preparing to conduct an Airdrop.
- Derivative trading: Coinbase International has announced that trading of the $ME-PERP contract will begin at 20:00 on November 20 (Vietnam time).
Tether (USDT)
- Minting $1 billion USDT: Tether Treasury has created an additional $1 billion USDT to support liquidity and maintain the stability of this leading stablecoin.
Astar Network (ASTR)
- Astar Evolution 1.5: The new version has been released with full interoperability with Soneium, expanding the ecosystem to Superchain and Ethereum.
dYdX (DYDX)
- Unlimited Upgrade: The dYdX platform has introduced the Unlimited version, integrating new features such as Instant Market Listings and MegaVault.
Lido Finance (LDO)
- Project Y: Lido Finance is preparing to launch Y, a blockchain platform for identity that will compete directly with Worldcoin (WLD).
Noble
- Raised $15 million: The stablecoin issuance platform Noble has received investment from Paradigm and Polychain Capital, affirming its development potential in the Cosmos ecosystem.
Bitfinity
- Mainnet launch: The Bitcoin Layer 2 project Bitfinity has officially launched its mainnet after raising $12 million.
Sidebar information
- Donald Trump and Bitcoin: US President-elect Donald Trump has appointed Howard Lutnick (former CEO of Cantor Fitzgerald) as the new Commerce Secretary. Lutnick currently owns hundreds of millions of dollars in Bitcoin, reflecting the new administration's support for cryptocurrencies.
Conclusion
The strong polarization in the Crypto market today continues to highlight the leading role of Bitcoin in driving the overall trend. With a new ATH, strong capital inflows into ETFs, and the emergence of promising projects like Magic Eden and Bitfinity, the market is expected to remain a focus of attention in the coming days.
