Headlines
▌Trump demands BRICS countries "commit" to using the US dollar
US President-elect Trump: He demands that the BRICS countries commit to not creating a new BRICS currency and not supporting any other currency to replace the powerful US dollar, otherwise they will face a 100% tariff.
▌XRP market cap surpasses Intel
According to the latest data from Infinite Market Cap, with the XRP market cap breaking through $100 billion and hitting a new high, it has surpassed traditional tech giant Intel (Interl) and well-known automaker BYD to rank 189th in the global asset market cap ranking, with the current XRP market cap being about $104.69 billion, while Intel's market cap is about $103.72 billion.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $96,483.14, with a daily change of -0.2%;
ETH's latest trading price is $3,692.74, with a daily change of +2.8%;
BNB's latest trading price is $652.44, with a daily change of +0.3%;
SOL's latest trading price is $238.30, with a daily change of -1.0%;
DOGE's latest trading price is $0.4318, with a daily change of +2.6%;
XRP's latest trading price is $1.89, with a daily change of +3.6%.
Policy
▌The government is "obsessed with indirect regulation"
Ripple's Chief Technology Officer, David Schwartz, has recently joined the list of tech founders opposing Operation Chokepoint 2.0 - a government-run de-banking action targeting the crypto industry. Schwartz stated that the government is "obsessed with indirect regulation" and listed four reasons why de-banking undermines the rule of law. Schwartz believes that de-banked entities will switch service providers or move funds underground - completely evading surveillance and sanction control. The CTO also said that cutting off banking services will undermine due process, free speech, and the right to resist unlawful searches and seizures.
▌The Spanish securities regulator approves the first token issuance license
The Spanish securities regulator, CNMV, has approved the country's first token issuance license, opening the door for the tokenization of real-world assets (RWA). Ursus-3 Capital, in collaboration with Onyze, is the first consortium able to provide services to Spanish companies seeking to enter this field. "We firmly believe that the tokenization of RWA opens up infinite possibilities for entrepreneurs, and ensuring the legal security of investors is of paramount importance," said Juan Jurado, General Manager of Ursus-3 Capital. Third parties can now contract their tokenization services.
Blockchain Applications
▌DeFi liquidity restart protocol Tren Finance completes seed round financing, with Maven Capital and others participating
DeFi liquidity restart protocol Tren Finance announced the completion of its seed round financing, with Contango Digital Assets, Maven Capital, Moonrock Capital, OIG Capital, Spyre Capital and others participating. The specific financing amount and valuation information have not been disclosed yet. It is reported that Tren Finance currently mainly provides the community with liquidity proof and pegged services to support re-collateralized LP, money market deposits and re-pledged positions and other DeFi services.
▌The General Office of the CPC Central Committee and the General Office of the State Council: Accelerate the development of foreign trade in areas such as blockchain and artificial intelligence
According to Xinhua News Agency, the Opinions of the General Office of the CPC Central Committee and the General Office of the State Council on Promoting the Reform and Innovation Development of Digital Trade point out that we should vigorously develop digital technology trade, strengthen the innovation of key core technologies, and accelerate the development of foreign trade in areas such as communications, Internet of Things, cloud computing, artificial intelligence, blockchain, and satellite navigation.
Cryptocurrencies
▌Pump.fun has generated a total fee income of $368 million since its launch, with a total of 4,038,775 tokens deployed
According to on-chain analyst @ai_9684xtpa's monitoring, Pump.fun was launched on 04.05 this year, and the data of Pump.fun in just 239 days: the total fee income reached 1,527,143 SOL (about $368 million), with an average daily income of $1.54 million; the total number of deployed tokens is 4,038,775, with an average of 16,898 new tokens per day; the monthly transaction volume is 388 million, nearly twice the sum of other DEXs; currently, the top 10 token market caps have all exceeded $200 million, with the top 1 Pnut even exceeding $1 billion; of the 14 Memes listed on Binance so far (including spot and futures), 42.85% belong to the Pump.fun system, and this proportion is 85.71% on the SOL network.
▌The White House's promotion of Bitcoin may undermine people's trust in the US dollar as the global reserve currency
The CF40 Research Institute published an article "The 'Politicization' of Cryptocurrencies", which revealed that behind Trump's victory in the 2024 US presidential election, the continuous march of the cryptocurrency industry into "money politics" has attracted widespread attention. American scholar Vitaliy Katsenelson pointed out that as the market's sentiment towards the US dollar has already been disrupted, the White House's promotion of Bitcoin may undermine people's trust in the US dollar as the global reserve currency, thereby weakening the US dollar's status. As for the current fiscal challenges, "what can truly make America great again is not Bitcoin, but controlling debt and deficits."
▌Grayscale's cryptocurrency investment portfolio has grown by more than 85% in the past month
According to Cryptorank data, the market value of Grayscale Trust Investment's cryptocurrency holdings has increased by more than 85% in the past month, with Stellar and XRP achieving triple-digit growth, which also confirms analysts' predictions of the upcoming altcoin season. The data shows that Stellar's monthly chart performance shows a gain of over 469%, while XRP has risen more than 262% in the past month. Decentraland, a metaverse project, is the third largest gainer in Grayscale's investment portfolio, with a gain of over 105% in the past month.
▌300 million USDT transferred from Tether Treasury to Kraken
According to on-chain data tracking service Whale Alert, around 7:42 am Beijing time, 300,000,000 USDT ($300,232,678) was transferred from the Tether Treasury to Kraken.
Important Economic Dynamics
▌Today's Fear and Greed Index drops to 81, still in the Extreme Greed range
Today's Fear and Greed Index has dropped to 81 (yesterday was 84), still in the Extreme Greed range. Note: The Fear Index threshold is 0-100, including indicators: Volatility (25%) + Market Trading Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin's Proportion in the Entire Market (10%) + Google Trend Analysis (10%).
▌Institutions: The probability of the Fed pausing rate cuts in mid-2023 has increased
Minsheng Securities stated that the probability of the Fed pausing rate cuts in mid-2023 has increased. With the unemployment rate remaining low and inflation proving difficult to bring down, the Fed may still have 2 to 3 rate cuts next year, but may pause rate cuts in the second half of the year. In the low probability scenario where tariff and immigration policies are overly aggressive, leading to a significant decline in the US stock market and the US economy, there may be more rate cuts next year.
Jinse Encyclopedia
An airdrop is like a surprise gift of cryptocurrency. Imagine opening a box and finding coins inside! This is similar to receiving a notification from a new blockchain project about free tokens or coins. Crypto airdrops involve the free distribution of digital assets to users' wallets, or as an exchange for completing simple tasks, such as following the project on social media or joining their online community.
Airdrops play a crucial role in the crypto ecosystem. New projects use airdrops as a marketing strategy to increase awareness and build a user base. They are like free samples in a supermarket, attracting users to try out new products. From the user's perspective, airdrops provide an opportunity to acquire new cryptocurrencies with minimal effort, and the potential for significant gains. These tokens are not just freebies, but a way to participate in the evolving digital economy.
Disclaimer: Jinse Finance, as a blockchain information platform, the content of the articles published is for information reference only and not as actual investment advice. Everyone should establish the correct investment concept and must improve their risk awareness.
