The price of Bitcoin has surpassed its historical high.
Written by: Alex Liu, Foresight News
Illustration by: Kiet, Foresight News
Note: "Weekly Hot Searches" statistics are compiled from user search results on Foresight News from last Friday to this Thursday (November 1 to November 7), with case variations of the same concepts merged.
"Trump" Wins Election
The pro-crypto U.S. Republican presidential candidate "Trump" has secured more than half of the electoral votes, locking in victory for this U.S. presidential election. Many believe the crypto industry will welcome a favorable regulatory environment:
FoxBusiness reporter Eleanor Terrett stated that, in fact, the first "crypto president" will be Trump. Coinbase's Chief Legal Officer Paul Grewal urged the U.S. SEC to reform following Trump's victory, while HashKey Exchange CEO Livio Weng mentioned in an interview with Phoenix TV that Trump is the first U.S. president to be very friendly towards cryptocurrencies. During his campaign, Trump promised several measures to support cryptocurrencies, such as including Bitcoin in the national reserves, making the U.S. the world capital of cryptocurrency, and easing regulations.
What long-term impacts will Trump's victory have on the market? Recommended reading:
"The crypto industry welcomes a new president; how will Trump’s return to the White House affect financial markets?" Bitcoin greets new market expectations with an ATH.
On the first night after the election, crypto assets officially take off: The rise in crypto assets reflects the market's expectations of relaxed policies following Trump's election.
Another Winner, "Polymarket"
Trump is not the only winner of this election.
According to DL News, French trader Théo made a large bet on the crypto prediction market "Polymarket" for Trump to win a second term, and based on platform data, he will earn at least $48.5 million from this bet.
Polymarket also gained significant attention during this election event—confirming the final winner of the election hours before mainstream media (through market prices). Polymarket has confirmed its election prediction market result as Trump winning, as the Associated Press, Fox News, and NBC have all confirmed the election result (call the election), meeting its result recognition criteria.
In addition to Polymarket, other assets related to Trump's victory include "Doge" (Musk fully supports Trump) and AAVE (the Trump family's crypto project is built on it).
Grass
Grass remains popular. On one hand, the broad coverage of "airdrops" has created a wealth effect; on the other hand, the strong coin price is undoubtedly a factor. After falling back to 2 USDT, it surged to 3.2 USDT on November 7, leaving the bears with little to say.
Sui
SUI continues to perform strongly in this wave of upward momentum, quickly recovering above 2.3 USDT and reaching previous highs. What are the latest developments in the ecosystem?
- Sui ecosystem lending platform Suilend:
- Launched the liquid staking token sSUI based on the SpringSui standard. SpringSui is an open-source liquid staking token standard that supports timely unstaking to provide liquidity, thereby reducing the risk of decoupling. The official statement indicates that other teams will be able to deploy LST using the SpringSui standard without permission and for free in the future.
- Bluefin has listed the Suilend token SEND on the pre-market trading platform.
- Suilend announced on X that the PRIME MACHIN NFT community will receive an ecological airdrop of SEND tokens.
- The Sui ecosystem domain service SuiNS will launch the token NS, with a TGE date of November 14. The total supply of token NS is 500 million, with 57% allocated to the community and foundation treasury, 10% for community airdrops, 28% for core contributors, and 5% for governance rewards. Exchanges like Bybit have announced they will list NS spot trading pairs.
More Hot Words
- Web3 payment infrastructure company MoonPay announced that it now supports global users outside the U.S. to purchase "BONK" through MoonPay.
- CCTV News reported: According to the Multilateral Central Bank Digital Currency Bridge Steering Committee, after more than three years of development, the preliminary exploratory work of the multilateral central bank digital currency bridge project has been completed, reaching a mature level that can be handed over to participating parties. The currency bridge project will be fully taken over by participating central banks and monetary authorities for ongoing development and operation. The currency bridge steering committee currently consists of the Hong Kong Innovation Center of the Bank for International Settlements, the Bank of Thailand, the Digital Currency Research Institute of the People's Bank of China, the Central Bank of the UAE, and the Hong Kong Monetary Authority.
- Binance has listed Cow Protocol "COW" and Cetus Protocol (CETUS). Notably, CETUS is the first SUI ecosystem project token listed by Binance.
- The Ethereum staking project "Swell" has opened the token SWELL for claiming, and airdrop can be claimed in the form of rSWELL to earn Black Pearls (10 times) and Symbiotic points. Depositing into the Swell L2 pre-release version can earn ecosystem points faster than other assets (15 times).
"Devcon" 2024 will be held from November 12 to November 15, 2024, in Bangkok, Thailand. Devcon is an Ethereum conference aimed at developers, thinkers, and makers, with the mission of bringing decentralized protocols, tools, and culture to people. Previous summits have been held in Berlin, London, Shanghai, Cancun, Prague, Osaka, and Bogotá.
Currently, there are 280 surrounding events. For more details, see: Overview of nearly 280 surrounding events for Devcon 2024
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