Trump's victory may accelerate the listing of the first Ethereum staking ETF.
Author: Deep Tide TechFlow
Market Dynamics Yesterday
Federal Reserve Cuts Interest Rates by 25 Basis Points
The U.S. Federal Reserve has decided to lower the benchmark interest rate by 25 basis points to 4.50%—4.75%. This is the second rate cut by the Fed this year. However, with Trump being re-elected as President, the Fed will face more pressure.
Coinbase International to Launch RAY-PERP Perpetual Contract
Coinbase will add support for Raydium perpetual futures on Coinbase International Exchange and Coinbase Advanced. The RAY-PERP market will open at or after 9:30 AM UTC on November 14, 2024.
On-chain Fund Flows Yesterday: Sui Net Inflow of $26.8 Million, Ethereum Net Outflow of $91 Million
On November 7, according to Artemis data, Sui had a net inflow of $26.8 million, Polygon a net inflow of $24.5 million, Solana a net inflow of $19.2 million, Arbitrum a net inflow of $13.9 million, Base a net inflow of $7.5 million, while Ethereum had a net outflow of $91 million.
Nansen Analyst: Trump's Victory May Accelerate the Listing of the First Staked Ethereum ETF
Nansen analyst Edward Wilson stated that if Donald Trump wins the U.S. presidential election on November 5, it could pave the way for more diversified cryptocurrency financial products, particularly for Ethereum, the world's second-largest cryptocurrency.
Wilson believes that the Trump administration may be more accepting of innovations in the crypto industry, including the launch of the first staked Ethereum ETF. He pointed out that under a pro-crypto regulatory environment, we might see the approval of a staked Ethereum ETF early in the new administration.
However, the performance of the current U.S. spot Ethereum ETF has disappointed some investors, with a cumulative net outflow of over $489 million since its launch.
Binance to Launch 1000000MOGUSDT Perpetual Contract with Up to 75x Leverage
According to an official announcement, Binance will launch the 1000000MOGUSDT perpetual contract with a maximum leverage of 75 times.
Fox Business: Over 250 Pro-Crypto Candidates Elected to Congress in This Election
According to Fox Business, the U.S. cryptocurrency industry achieved a significant victory in the recent elections, with over 250 pro-crypto congressional candidates successfully elected.
It is reported that the crypto industry invested at least $238 million in this election to influence key districts in the House and Senate. This substantial investment was primarily used to support pro-crypto candidates, including Republican businessman Bernie Moreno, who defeated incumbent Democratic Senator Sherrod Brown in Ohio, marking the first time in nearly 18 years that a Republican has won a Senate seat in the state.
As of the time of publication, Bitcoin supporter and Republican businessman Dave McCormick is temporarily leading in a fierce contest against incumbent Democratic Senator Bob Casey in Pennsylvania, with the final results yet to be announced.
Bloomberg: CZ Reveals He Received Offers to Sell His Stake in Binance
In an interview, CZ reflected on his forced departure from Binance and his four-month prison sentence, during which he passed the time by exercising, writing, and discussing cryptocurrency with fellow inmates. CZ stated, "I feel like I don't want to go back to being the CEO of Binance. I've led the company for seven years. I enjoy the job. Although it's very demanding, I think that chapter is over."
Additionally, CZ mentioned that he even received offers to sell his stake in the exchange—these stakes constitute a significant portion of his net worth—but he declined to disclose who the buyers were or the price.
CZ refused to comment on the U.S. election but expressed satisfaction with the direction of X (formerly Twitter).
Cellula Announces Token Economic Model, Airdrop Accounts for 5%
According to official news, the vPoW mechanism gamified mining project Cellula announced its CELA token economic model, with a total supply of 1 billion CELA tokens. The distribution includes 35% for mining rewards; 23% for Treasury/Foundation; 15% for team allocation; 15% for investor allocation; 7% for cooperation and advisor allocation; and 5% for airdrop allocation. The 5% airdrop consists of Energy, BitCell NFT, Life Points, and early activity airdrops, with each part unlocking at different rates over 2-6 months for full release.
Plume Network Announces Partnership with StakeStone and Launches Pre-Staking Activity
The modular real-world asset finance (RWAfi) blockchain project Plume Network announced a partnership with the all-chain liquidity asset protocol StakeStone and launched a pre-staking activity (https://vault.plumenetwork.xyz/). Users can deposit assets into the pre-deposit vault to earn Plume rewards by depositing SBTC and STONE.
Market Trends
Recommended Reading
Coinbase Founder: Some Thoughts on the U.S. Election from a Cryptocurrency Perspective
AI Summary: Coinbase founder Brian Armstrong analyzes the U.S. election from the perspective of cryptocurrency and economic freedom. Pro-crypto candidates won in the elections, particularly Bernie Moreno's victory in Ohio, which is favorable for the crypto industry. The election results indicate that the U.S. is moving towards economic freedom, and politicians opposing cryptocurrency will face career-ending consequences.
Bold Bet on Trump: $30 Million Behind French Trader's Polling
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Analyzing the Logic Behind the Price Surge of $GRASS Token
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BTCFi: The Innovative Journey to Unlocking Bitcoin's Trillion-Dollar Market Value
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