The competition in Pennsylvania is becoming increasingly fierce, which may affect the election results.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
Latest Polls: Harris and Trump in a Dead Heat in Swing States
The latest polls show that Democratic presidential candidate Harris currently holds a slight lead in Nevada, North Carolina, and Wisconsin, while Republican presidential candidate Trump is leading in Arizona.
The latest polls released by The New York Times and Siena College on Sunday (November 3) indicate that, aside from the aforementioned four swing states, Harris and Trump are tied in Michigan, Georgia, and Pennsylvania, making the competition very intense.
The polling results from these seven states are within the margin of error, meaning neither candidate has achieved an absolute lead in any state.
Since Harris entered the race, she has consistently led by four percentage points in Pennsylvania polls, but Trump's support has been steadily rising, making the competition now evenly matched. The competition in Pennsylvania is becoming increasingly fierce, which may affect the election results.
Tokens such as NEON, BANANA, and ADA will see significant unlocks this week, totaling approximately $50.73 million in value
According to Token Unlocks data, the following crypto projects will undergo token unlocks this week (November 4 to November 10), releasing tokens worth approximately $50.73 million in total:
Cardano (ADA) will unlock on November 6 at 8 AM Beijing time, valued at approximately $6.16 million, accounting for 0.05% of the current circulation.
Neon (NEON) will unlock on November 7 at 8 AM Beijing time, valued at approximately $20.16 million, accounting for 44.92% of the current circulation.
Banana Gun (BANANA) will unlock on November 8 at 8 AM Beijing time, valued at approximately $12.06 million, accounting for 7.21% of the current circulation.
XAI will unlock on November 9 at 5:30 PM Beijing time, valued at approximately $6.33 million, accounting for 4.89% of the current circulation.
Bitget Token (BGB) will unlock on November 10 at 8 AM Beijing time, valued at approximately $6.02 million, accounting for 0.38% of the current circulation.
Sotheby's Vice President: No Promotion of BAN Token, This Meme Coin is Unrelated to Sotheby's Position
Sotheby's Vice President Michael Bouhanna posted on X platform stating: "There are many misunderstandings and false claims regarding the issuance of a meme coin called BAN. I want to clarify what happened and set the record straight. Nine days ago, I issued a token called BAN on the Pump.Fun platform, which is a spontaneous project and a personal hobby, completely unrelated to my position at Sotheby's. I did not expect it to gain such high attention; its rapid growth was unexpected and entirely driven by the community, with no intervention from me."
Arthur Hayes: Solana Will Be "High Beta Bitcoin" During the U.S. Election
BitMEX co-founder Arthur Hayes is optimistic about Solana ahead of the U.S. elections, referring to it as "High Beta Bitcoin" on the Unchained podcast. With only a few days left until the election, Hayes explained that Solana is a good choice due to its strong liquidity, and if Bitcoin performs well, Solana is likely to rise.
Additionally, Hayes stated that, in the long run, who wins the U.S. election does not matter much, as the primary impact on digital assets will be the Federal Reserve's decision on whether to cut interest rates on November 7.
Hayes also expressed a preference for SOL over ETH, believing that Ethereum is currently "too slow" and needs a narrative change to alter perceptions of its poor performance in recent months. Regardless of political changes, significant improvements in cryptocurrency regulation are unlikely, and he advised investors to focus more on market fundamentals rather than political developments, as the latter often only have a temporary impact on market dynamics.
QCP: Bearish Sentiment for BTC and ETH is Rising, Elections May See "Good News Fully Priced In"
QCP released a weekend summary stating that Thursday's core PCE data was slightly above expectations (actual year-on-year growth of 2.7%, expected 2.6%). In contrast, Friday's non-farm payroll data (NFP) unexpectedly fell short of expectations (actual 12,000, expected 110,000), leading to a rebound in the dollar index (DXY) back to the 104 level.
Bitcoin reached an all-time high on Tuesday night, trading as high as $73.6k, driven by market anticipation for the election week. Despite Bitcoin's strong performance this week, Ethereum remained relatively flat, failing to break through the $2.7k mark. Against a backdrop of strong ETF inflows, Bitcoin saw a net inflow of over $2.1 billion this week.
Although Bitcoin fell below $69,000 on Friday, we still see strong interest in the market, with total open interest in BTC futures and BTC options remaining high at $40.65 billion and $25.3 billion, respectively. In the upcoming election week, the short-term implied volatility for BTC and ETH remains above 72 volatility, with bearish options skew rising as traders increase their downward protection.
21Shares Submits XRP ETF Application to the U.S. SEC
According to public documents from the U.S. Securities and Exchange Commission (SEC), 21Shares has submitted an S-1 application to launch the first XRP exchange-traded fund (ETF) called "21Shares Core XRP Trust."
The fund will track the price of XRP and plans to list on the Cboe BZX exchange. The trust does not involve leverage or derivatives and aims to reflect XRP's performance in U.S. dollars through the CME CF Ripple-Dollar reference rate (New York version). Coinbase Custody will serve as the custodian for the trust's XRP, responsible for safeguarding all assets.
Andre Cronje: Coinbase Has Frequently Requested Listing Fees, Willing to Provide Evidence for Public Verification
Sonic Labs co-founder Andre Cronje commented on the recent controversy regarding exchange "listing fees." He stated: "Binance did not charge us a listing fee, but Coinbase has repeatedly requested fees, quoting $300 million, $50 million, $30 million, and the most recent quote was $60 million."
In response, some Coinbase supporters claimed that Andre may have contacted fake Coinbase listing workers and questioned Sonic Labs' background checks.
Andre responded again: "I have not signed a non-disclosure agreement, so I am very willing to provide relevant evidence (the requests came from multiple employees/departments at Coinbase over the years via email, Telegram, and Slack). It is now certain that Coinbase can argue that this is not a listing fee but other fees, but it still translates into the project's listing costs. I know Coinbase may legally make some cuts, but I am happy to disclose all evidence and let the public verify."
DWF Labs Co-Founder Considers Legal Action Against Former Partner Eugene Ng
DWF Labs co-founder Andrei Grachev posted on X platform stating, "When I saw the surveillance footage, I was shocked. How could he do such a thing? This is the worst thing a person can do and should be severely punished, without mercy. We have withdrawn the funds and are considering further legal action against Eugene Ng."
Market Dynamics
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