Coinbase returns to the top ten of the US Apple App Store, ranking first in the finance category.
Author: Shenchao TechFlow
Yesterday's Market Dynamics
Pennsylvania State Legislature Proposes Legislation to Include BTC as State Reserve Asset
According to Fox Business reporter Eleanor Terrett, the Pennsylvania House of Representatives today proposed legislation that would allow the state to hold Bitcoin as a reserve asset on its balance sheet. This initiative is an important part of the state's broader recognition of Bitcoin as a store of value.
Movement Labs Co-Founder: Movement Mainnet is Coming Soon
Movement Labs co-founder Rushi Manche posted on the X platform that "Movement mainnet imminent," possibly hinting at an upcoming Token Generation Event (TGE).
OpSec Core Team Resigns En Masse, CEO Claims Project Founder Has Long Been Absent and Controls Finances Alone
Chris Williams, CEO of the crypto security project OpSec, announced his immediate resignation, along with the entire core team. In a statement, Chris Williams indicated that this decision was based on the findings of crypto analyst ZachXBT's investigation and internal team assessments.
It is reported that the anonymous founder has long been absent and solely controls the company's finances, preventing the team from effectively executing operations. Despite the project reaching a historical high market cap of $300 million, the changing market environment, slowed development progress, and stalled partnerships have forced some core team members to leave due to salary issues.
Chris Williams emphasized that while the project's revenue is substantial, the lack of transparency and adequate support has hindered the team from achieving its goals. ZachXBT stated on social media that there were many risk signals early in the project and advised investors to stay away from related project promoters during this bull market.
Coinbase Returns to the Top Ten of the US Apple App Store, Ranking First in the Finance Category
Against the backdrop of Bitcoin's price breaking through $93,000 to set a new historical high, the Coinbase app surged from 435th place before the election to 9th place in the US Apple App Store, ranking first in the finance category. Meanwhile, Cash App, which also provides Bitcoin services, is currently ranked 30th, and the cryptocurrency and stock trading app Robinhood is ranked 13th.
Steven Zheng, research director at The Block, stated, "The ranking of the Coinbase app has historically been seen as a signal of retail users returning to the cryptocurrency market." Notably, Coinbase previously reached the top of the app store rankings before the peak of the bull market in October 2021.
Crypto KOL Ansem: Multiple AI Meme Coins with Market Caps Over $10 Billion Will Emerge in the Future
Crypto KOL Ansem (@blknoiz06) posted on social media that he is "quite confident" that multiple AI Meme tokens with market caps over $10 billion will emerge in the future, although it is currently unclear which specific projects they will be.
Binance to Launch Usual (USUAL) on Launchpool and Pre-Market
Binance will launch Usual (USUAL) on Launchpool and Pre-Market. The Pre-Market will go live on 2024-11-19 at 10:00 (UTC). Launchpool will start on 2024-11-15 at 00:00 (UTC).
Usual is a stablecoin protocol, with its USD being a permissionless and fully compliant stablecoin backed 1:1 by real-world assets (RWA). USUAL is a governance token that allows the community to guide the future development of the network.
HashKey Xiao Feng: Trump's Support for Cryptocurrency May Drive China to Revive Digital Asset Market
Xiao Feng, chairman and CEO of HashKey Group, stated in an interview, "If the US Congress and the incoming President Trump clarify cryptocurrency policies, continuously legislate, and promote the development of the industry, this will definitely become a driving force for China to accept (cryptocurrency)."
Xiao Feng believes that Washington and its Western allies excluding Russia from the Swift financial information system in 2022 may also prompt Beijing to support the cryptocurrency industry. He said, "Without these events, China might need five to six years from now to accept cryptocurrency business. But now, due to these factors, this timeframe may be shortened to two years." The Chinese government has not yet shown signs of possibly relaxing its ban on digital assets. However, Beijing has allowed Hong Kong to develop its digital asset industry. Xiao Feng stated that if China wants to revive its digital asset market, it could start with a payment and settlement system based on regulated stablecoins. He said, "Stablecoins are currently the best solution for cross-border enterprise-to-consumer trade," citing reasons such as fast transaction speeds and low costs.
Xiao Feng mentioned that his HashKey team recently conducted a survey in Yiwu, which found that almost all merchants received inquiries from buyers about whether they could use popular dollar stablecoins (such as USDT and USDC) for payments.
Goldman Sachs Holds Over $710 Million in Bitcoin Spot ETF Shares as of Q3
According to the latest 13F filing submitted by Goldman Sachs to the US Securities and Exchange Commission (SEC), as of September 30, 2024, the institution held eight Bitcoin spot ETFs, with a total value of approximately $719 million. Among them, the iShares Bitcoin Trust ETF has a holding of about $461 million, with a share count of 12,769,500.
ETH/BTC Exchange Rate Hits 0.034636, Lowest Since April 2021
According to HTX market data, the ETH/BTC exchange rate fell to 0.034636, marking the lowest point since April 2021, currently reported at 0.035.
Market Dynamics
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