Trump will meet privately with Coinbase CEO on Monday to discuss personnel appointments.
Author: Deep Tide TechFlow
Market Dynamics Yesterday
MicroStrategy increased its holdings by 51,780 bitcoins in the past week, totaling approximately $4.6 billion
MicroStrategy founder Michael Saylor announced that the company has purchased an additional 51,780 bitcoins, totaling approximately $4.6 billion, with an average purchase price of $88,627. As of November 17, 2024, MicroStrategy holds 331,200 bitcoins, with a total investment of about $16.5 billion and an average holding cost of $49,874. The company's bitcoin investment portfolio has yielded a return of 20.4% so far this quarter and 41.8% year-to-date.
MicroStrategy plans to issue $1.75 billion in convertible senior notes to increase BTC holdings and for general corporate purposes
MicroStrategy announced plans to issue $1.75 billion in 0% convertible senior notes maturing in 2029. The company also expects to grant initial purchasers of the notes an option to purchase up to $250 million in principal amount of the notes within three days of the initial issuance. This offering is subject to market and other conditions, and there is no assurance as to whether, when, or on what terms the offering will be completed.
MicroStrategy intends to use the net proceeds from this offering to purchase more bitcoins and for general corporate purposes.
Trump's social media company is in deep negotiations to acquire the crypto trading platform Bakkt
According to the Financial Times, Trump's social media company, Trump Media & Technology Group, is in deep negotiations to acquire Bakkt, a cryptocurrency trading platform owned by Intercontinental Exchange.
Magic Eden announces tokenomics: total supply of 1 billion, initial airdrop accounts for 12.5%
Magic Eden has announced the tokenomics for the ME token, with a total supply of 1 billion tokens. The token distribution will be released over four years, with more than half allocated to the community.
Among them, the initial ME claim at TGE accounts for 12.5%, community and ecosystem account for 37.7%, contributors account for 26.2%, and strategic participants account for 23.6%. ME will be fully distributed over four years, at which point all ME will be fully circulating, with most allocated to the community.
Coinbase International will launch IO perpetual contracts
According to official news, Coinbase International and Coinbase Advanced will launch IO perpetual contracts on io.net, with the IO-PERP market expected to open on November 21, 2024, at 17:30 (UTC+8) or later.
Lido co-founders are preparing a blockchain authentication platform codenamed "Y," competing with World Network
According to insiders, DeFi giant Lido co-founders Konstantin Lomashuk and Vasiliy Shapovalov, leading Cyber Fund, are preparing a blockchain authentication platform codenamed "Y," directly competing with Sam Altman's World Network.
Unlike World Network, which uses iris scanning for authentication, the Y project will verify user identities based on their social media and blockchain activity data, combined with Ethereum Attestation Service. This solution aims to address the risks of biometric data leakage and minimize the potential for fraud.
Ethereum-compatible Layer 1 public chain Monad has launched its testnet
The Ethereum-compatible Layer 1 public chain Monad has begun a phased launch of its testnet. Cryptocurrency trader Jordan Fish (known as Cobie) confirmed on social media that he has completed transactions on the Monad testnet, stating that the transaction speed is very fast.
Monad Labs previously achieved 10,000 transactions per second (TPS) during internal testing when it launched the developer network in March. The project has rebuilt the EVM using a pipeline architecture, claiming to achieve a 1-second block time and instant block finality, but the node hardware requirements are about twice that of the Ethereum mainnet.
The first consumer Layer DuckChain based on TON has launched its mainnet, innovatively introducing the ISO concept
According to official news, the first consumer Layer DuckChain based on TON has officially announced its mainnet launch, along with the innovative concept of ISO (Initial Star Offering). Users can convert Telegram Stars into on-chain Stars through ISO, participating in various on-chain interactions, significantly lowering the usage threshold for Web2 users. ISO will serve as a unique asset issuance model and user on-chain interaction model within the Telegram ecosystem, providing innovative solutions for the mass adoption of Telegram users.
DuckChain has attracted nearly 50 ecological projects and has become the first consumer Layer on TON to support EVM compatibility, further enhancing the richness of the on-chain application ecosystem and attracting more EVM ecosystem developers.
Multiple Dexx users experienced abnormal login attempts on their email accounts, advised to change associated account passwords promptly
OneKey Security Lab issued a security alert, as multiple users of the Dexx trading platform reported abnormal login attempts on their associated email accounts. OneKey recommends that users take immediate security precautions, especially those using the same password for both Dexx and their email: 1) Immediately change the passwords for all Web2 accounts using the same password; 2) Completely abandon any potentially leaked password combinations; 3) Pay special attention to the security of email accounts containing sensitive information and associated with multi-factor authentication.
MORPHO token will enable transfer functionality on November 21
DeFi lending protocol Morpho announced that its governance token MORPHO will enable transfer functionality on November 21. Since its launch in June 2022, Morpho DAO has gradually allocated ownership to protocol users, strategic partners, risk assessors, and other contributors. It is reported that the MORPHO token was initially deployed as a non-transferable token, with the timing of enabling transfer functionality decided by the DAO rather than any centralized entity. During the non-transferable phase, the DAO prioritized distributing ownership among three key groups: users, contributors, and strategic partners.
CryptoQuant CEO: Small bitcoin transaction volume below $100,000 hits a three-year high, signaling retail investor entry
CryptoQuant CEO Ki Young Ju stated that the small transaction volume of bitcoin below $100,000 has reached a three-year high, indicating that retail investors are returning to the cryptocurrency market.
Ki Young Ju also analyzed large transaction data over $1 million, suggesting that from the perspective of large holders, they may be waiting for more exit liquidity. He predicts that retail FOMO sentiment may peak when bitcoin breaks $100,000. While the market may experience short-term adjustments, he believes this will not trigger the start of a bear market.
Trump will meet privately with Coinbase CEO on Monday to discuss personnel appointments
According to The Wall Street Journal, U.S. President-elect Donald Trump will meet privately with Coinbase CEO Brian Armstrong on Monday. Sources say the two are expected to discuss personnel appointments for Trump's second administration.
This meeting marks the first time Trump will meet with Armstrong since his election victory. Trump has previously expressed skepticism about cryptocurrencies but has recently become a public supporter of the industry. Earlier this year, he stated at a bitcoin conference that if elected, he would establish a presidential advisory committee on bitcoin and cryptocurrencies to create transparent regulatory guidelines. Armstrong has previously publicly proposed that Hester Peirce, an SEC commissioner appointed by Trump, should be the next SEC chair. Additionally, it has been reported that Coinbase donated over $100 million to various political action committees before the election, with $40 million supporting pro-crypto candidates.
Market Dynamics
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