The United States may implement "capitalism with Chinese characteristics," and Bitcoin is expected to break through $1 million.

Author: Shen Chao TechFlow

Market Dynamics Yesterday

Boyaa Interactive: Holds 2,641 BTC and 15,445 ETH

Boyaa Interactive (00434.HK) announced that due to the recent activity in the cryptocurrency market, investors and company shareholders have inquired about the company's cryptocurrency holdings. The board of directors hereby informs shareholders and potential investors that as of the date of this announcement, the group holds 2,641 Bitcoins (BTC) with a total cost of approximately $142,722,654, averaging about $54,027 per BTC; it also holds 15,445 Ether (ETH) with a total cost of approximately $42,578,110, averaging about $2,756 per ETH.

Ethereum Foundation Sells 100 ETH Again Yesterday, Total Sold in 2024 Reaches 4,266 ETH

According to Spot On Chain monitoring, the Ethereum Foundation sold 100 ETH yesterday for 334,315.7 DAI. This is the first sale of ETH since the foundation released its 2024 report on November 8. The report shows that as of October 31, the foundation's asset reserves amount to $970.2 million, of which $788.7 million is in cryptocurrency (99.45% in ETH). The Ethereum Foundation plans to regularly sell ETH to fund key public projects and maintain reserves. As of 2024, they have sold 4,266 ETH at an average price of $2,773, totaling $11.83 million.

German Government Previously Sold 50,000 Bitcoins at an Average Price of $54,000, Missing Out on $1.7 Billion in Potential Gains

According to Watcher.Guru, the German government previously sold 50,000 Bitcoins at an average price of $54,000, which has now resulted in a missed potential gain of approximately $1.7 billion.

BitMEX Founder: The U.S. May Implement "Capitalism with Chinese Characteristics," Bitcoin Expected to Break $1 Million

Former BitMEX CEO Arthur Hayes pointed out in his latest article "Black or White?" that the incoming Trump administration may adopt an economic development model similar to China's, which he refers to as "American capitalism with Chinese characteristics."

Hayes expects the new government to promote the return of manufacturing to the U.S. through large-scale fiscal stimulus and industrial policies, which will include tax incentives and subsidies for key industries, as well as providing cheap financing through the banking system. This is expected to lead to a rapid expansion of bank credit, potentially exceeding the $4 trillion stimulus scale during the pandemic. In this context, Hayes believes Bitcoin will become the best choice to combat fiat currency devaluation, with the potential to reach $1 million.

XION Opens Airdrop Query

Layer1 project XION announced the opening of token airdrop queries. Users who actively participate in the XION testnet Dapp, receive special recognition from the XION community activities, and are active in multiple ecosystem partner communities can check their XION token airdrop amounts.

Ethereum Foundation Researcher Proposes Consensus Layer Upgrade "Beam Chain," Referred to as "Ethereum 3.0" by the Community

Ethereum Foundation researcher Justin Drake proposed a new consensus layer upgrade "Beam Chain" at the Devcon conference, referred to by the community as "Ethereum 3.0." The proposal aims to achieve faster block times, lower validator staking requirements, "on-chain snarkification," and quantum-safe improvements. The core of Beam Chain is to introduce technologies like zkVM to significantly enhance the scalability of the Ethereum mainnet, potentially without relying on Layer 2 solutions.

Doug Colkitt, founder of Ambient Finance, stated that the localization of zkEVM could completely eliminate gas limits, allowing nodes to only verify snarks, theoretically achieving infinite scalability for L1. However, this proposal may lead to further centralization of block construction.

Drake emphasized that the final implementation of Beam Chain requires community consensus and described it as his "most ambitious proposal to date." He previously resigned from his advisory position due to potential conflicts of interest with EigenLayer.

Ethereum L2 Network Lisk Launches Mainnet and Announces Airdrop Plan

The Ethereum Layer 2 network Lisk has launched its mainnet and announced an airdrop plan. Lisk launched its testnet in February this year and has transitioned from Layer 1 to Layer 2. Along with the mainnet launch, Lisk plans to airdrop 15 million LSK tokens, with the airdrop event starting on November 21 and lasting for four months.

Users can earn points by completing tasks on the Lisk platform, and the total points will determine the amount of LSK they receive. Lisk's airdrop activity aims to provide a seamless, engaging, and educational experience. Lisk was first launched as a Layer 1 blockchain in 2016 and transitioned to an Optimism-based Layer 2 in December 2023 to support real-world assets and decentralized infrastructure networks.

Turbos.Fun Now Supports SuiNS Domain Names, Second Phase of Meme Project Fair Launch Incentive Program Launched

Turbos Finance, a leading decentralized exchange in the Sui ecosystem, has launched the Meme token fair launch platform Turbos.Fun in collaboration with Sui Name Service, allowing users and builders to smoothly link through .sui domain names, enhancing the platform's accessibility.

Meanwhile, Turbos.Fun has successfully concluded the first phase of the Meme project incentive program, helping nearly 2,000 projects launch and start fairly. The first wave of incentives for the top 100 pioneer projects (excluding NSFW) has been distributed.

The second phase of the Meme project incentive program on Turbos.Fun will end on November 19, with the top three outstanding projects achieving the highest cumulative trading volume through the joint curve on Turbos.Fun receiving poster top placement and token pool launch services on Turbos, as well as a growth voucher worth $3,000 provided by Nextmate.AI for AI-driven on-chain activities.

Coinbase APP Downloads Reach No. 2 on U.S. iOS Financial Free Chart

According to App Store data, Coinbase APP downloads have reached No. 2 on the U.S. iOS financial free chart. Additionally, Google Trends data shows that interest in Bitcoin searches has been increasing, peaking at 100 and currently falling back to 59.

Starknet: STRK Staking to Launch on Mainnet on November 26

The Ethereum Layer 2 network Starknet announced on the X platform that STRK staking on the mainnet is scheduled to launch on November 26. After extensive testing on Sepolia, the first phase of STRK staking is now ready for launch on the Starknet mainnet. Anyone can participate by becoming a validator, which requires staking at least 20,000 STRK and running a full node; or by becoming a delegator, which requires selecting a validator from the available list and holding STRK tokens. Please note that both validators and delegators will be subject to a 21-day staking unlock period.

Bloomberg Analyst: U.S. Spot Bitcoin ETF Assets Have Reached 2/3 of Gold ETF

Bloomberg senior ETF analyst Eric Balchunas stated on the X platform: "The assets of the U.S. spot Bitcoin ETF have now reached $84 billion, equivalent to 2/3 of the assets of the gold ETF. Suddenly, they are likely to surpass the gold ETF before the one-year anniversary of their launch (we previously predicted this would take 3-4 years)."

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