Key News Forecast:
- The first Global NFT Developer Summit NFTCON 2024 will be held on November 11, the day before Devcon in Thailand;
- Aptos (APT) will unlock approximately 11.31 million tokens at 2 PM Beijing time on November 11, accounting for 2.18% of the current circulation, valued at about $128 million;
- Ethereum Devcon 7 will take place from November 12 to 15 in Bangkok, Thailand;
- Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on November 13, valued at about $228 million;
- The Hong Kong Stock Exchange will launch a virtual asset index series on November 15;
- Federal Reserve Chairman Jerome Powell will participate in a dialogue titled "Global Perspective" at 4 AM Beijing time on November 15;
- Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on November 16, accounting for 2.33% of the current circulation, valued at about $60 million;
November 11
Exchanges:
Coinbase Derivatives will launch Silver (SLR) and Stellar (XLM) futures contracts on November 11
Coinbase Derivatives will launch retail-sized futures contracts for Silver (SLR) and Stellar (XLM) on November 11, further expanding its derivatives product line regulated by the Commodity Futures Trading Commission (CFTC), which already includes contracts for BTC, ETH, BCH, LTC, DOGE, SHIB, AVAX, DOT, LINK, Gold, and Oil.
The newly launched Silver and Stellar futures will be based on 50 ounces of silver and 5,000 Stellar, respectively, aimed at providing easier market access for traders at all levels while meeting the needs for price discovery and risk management. Coinbase stated that combining traditional commodities with innovative cryptocurrencies helps create a more comprehensive trading experience, offering investors diverse risk management and investment portfolio options.
Binance plans to adjust the calculation method for futures contract settlement prices on November 11
According to an official announcement, Binance will adjust the calculation method for futures contract settlement prices at 4 PM (UTC+8) on November 11, 2024. The settlement price will be calculated using the average of the price index every second during the last 30 minutes before settlement (from 3:30 PM to 4 PM UTC+8), totaling 1,800 price indices. The current contract settlement price is calculated based on the average of the price index every second during the last hour before settlement (from 3 PM to 4 PM UTC+8), totaling 3,600 price indices. The new contract settlement price will be calculated using the average of the price index every second during the last 30 minutes before settlement (from 3:30 PM to 4 PM UTC+8), totaling 1,800 price indices.
Project Updates:
The Bitcoin L2 protocol Zulu Network will launch its native token ZULU on Bounce Launchpad and will simultaneously open two auction pools at 6 PM (UTC+8) on November 10, with a duration of 12 hours. Additionally, cryptocurrency exchanges MEXC and Gate will list ZULU at 6 PM (UTC+8) on November 11.
The AI alignment node sale of the 0G Foundation will start on November 11
According to an official announcement from 0G Labs, the AI alignment node sale of the 0G Foundation will start on November 11, aimed at encouraging the community to protect AI as a public good. 1,500 testnet participants can complete tasks in Intract to gain first or second-level whitelist (WL) qualifications for priority participation in this node sale.
The second closed beta test of the Ronin ecosystem game Lumiterra is scheduled to start on November 11
Ronin announced that the second closed beta test of the game Lumiterra is scheduled to start on November 11, lasting approximately three weeks, and any user with Lumiterra whitelist access can participate.
Community Events:
The first Global NFT Developer Summit NFTCON 2024, co-initiated by PANews and NFTScan, will be held on November 11 in Bangkok, Thailand, just before Devcon, with support from various institutions including BNB Chain, UniSat, Mint Blockchain, Coin98, RareShop, imToken, GoPlus, Dagora, and Ready Player Club.
As a highly scalable crypto asset, NFTs show great market potential in consumer applications. This new type of asset not only provides proof of ownership of digital assets, offering strong ownership protection for consumers, but also brings more diverse and personalized choices and experiences. This event will explore the current status and future development opportunities of NFTs through their extensive applications in MEME, social, cultural, commercial, and social charity fields.
Token Unlocks:
Aptos (APT) will unlock approximately 11.31 million tokens at 2 PM Beijing time on November 11, accounting for 2.18% of the current circulation, valued at about $128 million.
Cardano (ADA) will unlock approximately 92.65 million tokens at 8 AM Beijing time on November 11, accounting for 0.05% of the current circulation, valued at about $10.8 million.
io.net (IO) will unlock approximately 2.11 million tokens at 8 PM Beijing time on November 11, accounting for 1.75% of the current circulation, valued at about $4.4 million.
November 12
Exchanges:
Binance will launch SOLUSDT daily and periodic options on November 12
Binance Options will launch SOLUSDT daily and periodic options at 4 PM (UTC+8) on November 12, 2024. SOLUSDT daily and periodic options are European-style options contracts.
The U.S. law firm Pomerantz announced that it has filed a class action lawsuit against Coinbase Global, Inc. (NASDAQ: COIN), accusing the company and some of its executives of securities fraud or other illegal business practices. Investors must apply to be the lead plaintiff in this class action lawsuit by November 12, 2024. This lawsuit stems from the news that the UK's Financial Conduct Authority (FCA) imposed a £3.5 million fine on Coinbase's subsidiary CB Payments Limited on July 25, 2024, which caused Coinbase's stock price to drop 5.53% on that day.
Project Updates:
DePIN L1 protocol Peaq will launch on November 12
The DePIN L1 protocol Peaq announced its launch on November 12 via X. Previously, in May, Peaq completed a $20 million fundraising through CoinList, with over 14,500 community members contributing more than $36 million.
Community Events:
Ethereum Devcon 7 will be held from November 12 to 15 in Bangkok, Thailand
The Ethereum Developer Conference Devcon 7 will be held from November 12 to 15, 2024, in Bangkok, Thailand. This Devcon is not only a location announcement but also an expansion of vision, making the entire Southeast Asia region a stage for community gatherings. The Ethereum community in Southeast Asia plays a key role in the global cryptocurrency space, with rapid growth reflected in the global cryptocurrency adoption index. The Devcon team has launched the "Road to Devcon (RTD) Grants" program to support the development of new Ethereum activities, grassroots communities, and educational initiatives in the Southeast Asia region.
Token Unlocks:
World Mobile Token (WMTX) will unlock approximately 4.92 million tokens at 8 AM Beijing time on November 12, accounting for 0.00% of the current circulation, valued at about $1.1 million.
Fusionist (ACE) will unlock approximately 850,000 tokens at 8 AM Beijing time on November 12, accounting for 2.09% of the current circulation, valued at about $2 million.
November 13
Policy and Regulation:
Biden and Trump will meet at the White House on the 13th
The White House announced on the 9th that, at President Biden's invitation, Trump, who won the 2024 presidential election, will meet with Biden at the White House at 11 AM Eastern Time on the 13th (midnight Beijing time next Thursday). No further details have been released.
Exchanges:
Binance is expected to suspend token deposits and withdrawals for the Arweave (AR) network at 9 PM (UTC+8) on November 13, 2024, to support its network upgrade and hard fork. The project team will conduct the network upgrade and hard fork at block height 1,547,120 (expected at 10 PM UTC+8 on November 13, 2024).
Project Updates:
Former Celsius CEO to return to court for trial on November 13
According to Cointelegraph, former Celsius CEO Alex Mashinsky will return to court on November 13 for oral arguments regarding his motion to dismiss fraud and market manipulation charges. Mashinsky was arrested in July 2023 and faces seven felony charges related to manipulating the price of Celsius token CEL.
Token Unlocks:
Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on November 13, valued at about $228 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on November 13, accounting for 0.45% of the current circulation, valued at about $7.4 million.
Axie Infinity (AXS) will unlock approximately 815,000 tokens at 9:10 PM Beijing time on November 13, accounting for 0.53% of the current circulation, valued at about $4.5 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on November 13, accounting for 0.69% of the current circulation, valued at about $4.2 million.
Render (RENDER) will unlock approximately 490,000 tokens at 8 AM Beijing time on November 13, accounting for 0.13% of the current circulation, valued at about $2.7 million.
November 14
Exchanges:
Binance will remove QTUM/BTC and XVS/BTC leveraged trading pairs on November 14
Binance announced that it will remove the following leveraged trading pairs at 2 PM (UTC+8) on November 14, 2024: full margin QTUM/BTC, isolated margin QTUM/BTC, and XVS/BTC.
Coinbase International will launch Raydium perpetual futures contracts on November 14
Coinbase International announced on the X platform that it will add support for Raydium perpetual futures contracts on Coinbase International and Coinbase Advanced, with the RAY-PERP market expected to open at or after 5:30 PM Beijing time on November 14, 2024.
Policy and Regulation:
According to an announcement from the Ministry of Industry and Information Technology, opinions are being solicited on 198 industry standards, including "Technical Requirements for Large AI Office Models" and the recommended national standard project for "Electromagnetic Compatibility Technical Requirements and Testing Methods for Civil Terminal Equipment of the Beidou Satellite Navigation System." The deadline for public feedback is November 14, 2024. Relevant documents and feedback forms have been published in the attachments, and opinions can be sent via email to the Ministry's Science and Technology Department.
Token Unlocks:
Polyhedra Network (ZKJ) will unlock approximately 17.22 million tokens at 8 AM Beijing time on November 14, accounting for 28.52% of the current circulation, valued at about $19.8 million.
CYBER (CYBER) will unlock approximately 886,000 tokens at 2 AM Beijing time on November 14, accounting for 3.81% of the current circulation, valued at about $3.3 million.
Moonwell (WELL) will unlock approximately 38.54 million tokens at 8 AM Beijing time on November 14, accounting for 1.30% of the current circulation, valued at about $3 million.
November 15
Policy and Regulation:
Switzerland is considering including cryptocurrency tax data in its international information exchange agreements. The Swiss Federal Council launched a consultation process for a new bill aimed at facilitating the sharing of cryptocurrency asset information with 111 jurisdictions. These jurisdictions are currently part of automatic information exchange. The sharing is contingent upon their compliance with the OECD's cryptocurrency asset reporting framework.
Switzerland has long been a leader in cryptocurrency adoption. Places like Lugano were among the first to accept cryptocurrencies like Tether (USDT) and Bitcoin for tax payments. The country's political framework allows the Federal Tax Administration to classify Bitcoin as a payment method, thus exempting it from value-added tax (VAT). The Swiss Federal Council aims to determine the start date for the automatic exchange of cryptocurrency-related information with partner states. The consultation period for this legislative proposal will end on November 15, 2024.
The Hong Kong Stock Exchange will launch a virtual asset index series on November 15
According to Jinshi, the Hong Kong Stock Exchange announced that it will launch the Hong Kong Stock Exchange Virtual Asset Index Series on November 15, 2024, providing reliable benchmark prices for this rapidly emerging asset class and supporting Hong Kong's development as a leading digital asset hub in Asia. The index series will provide transparent and reliable benchmarks for the pricing of Bitcoin and Ethereum in the Asian time zone, aiming to provide a unified reference price for virtual assets and address price discrepancies across global exchanges. Hong Kong Stock Exchange Group CEO Charles Li stated, "We are pleased to launch the Hong Kong Stock Exchange Virtual Asset Index Series to meet the regional demand for this rapidly emerging asset class. By providing transparent and reliable real-time benchmarks, we hope to help investors make informed investment decisions, thereby supporting the healthy development of the virtual asset ecosystem and consolidating Hong Kong's position as an international financial center."
Project Updates:
Heather Morgan, an accomplice in the Bitfinex hacking case, will be sentenced on November 15
U.S. prosecutors are seeking an 18-month prison sentence for Heather Morgan (better known by her rapper name "Razzlekhan") for her role in laundering 120,000 Bitcoins stolen in a 2016 hack of Bitfinex. In August 2023, Morgan pleaded guilty to one count of conspiracy to commit money laundering and one count of conspiracy to commit fraud against the United States, each carrying a maximum sentence of five years.
Initially, it was believed that Morgan and her husband Ilya Lichtenstein were merely laundering the hacker's proceeds (valued at about $7.5 billion), but Lichtenstein later admitted to being the original hacker and pleaded guilty to a conspiracy to commit money laundering charge, which carries a maximum sentence of 20 years. According to court documents, Lichtenstein carried out the hack alone in 2016 and did not inform his wife until four years later in 2020, or seek her help in laundering the money, making her an accomplice after the crime. Considering Morgan's early acceptance of responsibility and "significant assistance to law enforcement," as well as her minimal personal use of the criminal proceeds, prosecutors recommended a lighter sentence for her.
In addition to seeking prison time for Morgan, prosecutors also requested that the court order her to return the cryptocurrency seized from the Bitfinex hacker wallet directly to Bitfinex as restitution. This cryptocurrency includes approximately 94,643.29837084 BTC, 117,376.52651940 BCH, 117,376.58178024 BSV, and 118,102.03258447 BTG, valued at over $6 billion at current prices. Morgan is scheduled to be sentenced at 2 PM on November 15 in Washington, D.C., one day after Lichtenstein.
Token Unlocks:
Starknet (STRK) will unlock approximately 64 million tokens at 8 AM Beijing time on November 15, accounting for 3.05% of the current circulation, valued at about $30.3 million.
November 16
Token Unlocks:
Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on November 16, accounting for 2.33% of the current circulation, valued at about $60 million.
Nervos Network (CKB) will unlock approximately 1.34 billion tokens at 8 AM Beijing time on November 16, accounting for 2.99% of the current circulation, valued at about $19.9 million.
Mintlayer (ML) will unlock approximately 9.91 million tokens at 8 AM Beijing time on November 16, accounting for 6.28% of the current circulation, valued at about $1.2 million.
November 17
Token Unlocks:
Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8 AM Beijing time on November 17, accounting for 1.51% of the current circulation, valued at about $5.8 million.
OmniFlix Network (FLIX) will unlock approximately 15.31 million tokens at 8 AM Beijing time on November 17, accounting for 3.91% of the current circulation, valued at about $2.4 million.
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