Cryptocurrency Market Performance

Currently, the total market capitalization of cryptocurrencies is $2.34 trillion, with BTC accounting for 57.7% at $1.35 trillion. The market capitalization of stablecoins is $172.8 billion.

This week, the price of BTC has been oscillating upwards, with BTC now at $68,371 and ETH at $2,645. Most of CoinMarketCap’s top 200 projects have risen and a few have declined, with STORJ up 67.65% over 7 days, BOME up 43.75% over 7 days, MEW up 43.98% over 7 days, and SUI Eco-projects performing well: DEEP up 43.75% over 7 days.

US Bitcoin Spot ETF net inflows this week: $2.133 billion, US Ether Spot ETF net inflows: $78.8 million.

The ‘Fear & Greed Index’ on October 19th was 72 (higher than last week), Sentiment for the week: 2 days neutral, 5 days greedy.

Understanding the Present

A look back at the week’s big events

1. The Ethena community launched a proposal to include SOL as a collateral asset for USDe;

2. Pump.fun surpasses $120 million in cumulative revenue;

3. Sui Foundation responds to allegations that insiders sold $400 million in tokens: there was no preemptive selling or violation of the lockup program. 4;

4. HyperLiquid announced the establishment of a foundation and the next step will be the launch of the token HYPE;

5. The probability of a Trump victory on Polymarket rose to 56.9% on October 16, outpacing Harris by 14.3 percentage points;

6. Azra Games closes $42 million Series A round led by Pantera Capital;

7. Celestia: DA Network Shwap Upgrade Activated on Test Network, Expected to Enter Beta Phase on Main Network in November;

8. Binance Labs invested in Lombard, a bitcoin liquidity pledge platform;

9. On October 18, NVIDIA rose nearly 4% to a new all-time high;

10. Uniswap has gone live on World Chain;

11. On October 17, Base Network USDC transfers hit an all-time high, processing over $17.5 billion in a single day;

12. The Trump family will receive 75% of WLFI’s net income and will not be held liable for any of it;

13. US presidential election betting on the Polymarket platform exceeded $2 billion.

Macroeconomics

1. On October 13, according to CME’s “FedWatch”, the probability that the Fed will cut 25 basis points by November is 89.5%, and the probability of keeping the current interest rate unchanged is 10.5%.

2.On October 17, the probability that the European Union will cut its interest rate by 25 basis points by November is 10.5%;

2. On October 17, the ECB lowered its deposit facility rate from 3.5% to 3.25%, in line with market expectations. At the same time, the main refinancing rate and the marginal lending rate were adjusted from 3.65% and 3.9% to 3.4% and 3.65% respectively. 3;

3. On October 18, according to market sources, the U.S. Securities and Exchange Commission (SEC) sued THOR co-founder Matthew Moravec for unregistered sales of cryptocurrency securities;

4. On October 18, the U.S. Securities and Exchange Commission (SEC) has formally appealed the XRP ruling made by Judge Analisa Torres;

5. On October 19, the SEC approved the New York Stock Exchange (NYSE) to trade options based on the Bitcoin Spot ETF;

6. On October 19, the U.S. SEC approved the Chicago Board Options Exchange (CBOE) to trade options based on the Bitcoin Spot ETF.

ETF

According to statistics, during the period of October 14-October 18, the U.S. Bitcoin Spot ETF had a net inflow: $2.133 billion; as of October 18, GBTC (Grayscale) had a total outflow of: $20.05 billion, and is currently holding $15.154 billion, and IBIT (BlackRock) is currently holding $26.163 billion. Total market capitalization of the U.S. Bitcoin Spot ETF is: $67.151 billion.

The U.S. Ether Spot ETF had a net inflow of: $78.8 million.

Foreseeing the Future

Upcoming Events

1. Solana Hacker House Hong Kong, taking place in Hong Kong from October 24th to October 26th, is a three-day offline event featuring presentations from industry thought leaders, panel discussions and workshops, with in-person mentoring from Solana Labs and Solana Foundation team members, and where participating guests get the opportunity to network with the Solana ecosystem team. Participating guests will have the opportunity to network with the Solana ecosystem team;

2. Cosmos’ annual conference, Cosmoverse 2024, will be held in Dubai on October 21–22, focusing on the Cosmos ecosystem, interoperability, and more. Each year, the Cosmos community travels to a new city, with 2021 in Lisbon, 2022 in Medellin, and 2023 in Istanbul. Attendees at the summit included Sunny Aggarwal, co-founder of Osmosis, Fisher Yu, co-founder of Babylon, Greg Osuri, CEO and co-founder of Overclock Labs, and many more;

3. The 13th International Forum on Web3, Cryptocurrencies and Mining, Blockchain Life 2024, taking place in Dubai on October 22–23, is expected to attract over 7,000 attendees from 120 countries; 4. the 9th Hong Kong FinTech Week, which will be held in Hong Kong from October 22–23, is expected to attract over 7,000 attendees from 120 countries;

4. The 9th Hong Kong FinTech Week will be held from 28 October to 1 November 2024, with the theme of “Lighting up the New Path of FinTech”. This year, the Hong Kong FinTech Week will feature eight thematic forums on cutting-edge technologies and cross-industry connections, including Global Forum, Artificial Intelligence and Cutting Edge Technologies, Blockchain and Digital Assets, Payment Technology and Financial Innovation, InsurTech, Green FinTech and Social Responsibility, Wealth and Investment Technology. Wealth and Investment Technology.

Project Progress

1. Moonveil, the Layer2 gaming ecosystem, will conduct node sales, with the whitelist round taking place on October 22nd and the public round going live on October 24th. Node activation is scheduled for Q1 2025, with 25% of tokens unlocked after the TGE, 70% of tokens unlocked within three years, and the remaining 5% distributed to community rewards after the TGE;

2.The Ether metaverse game Decentraland will launch in desktop client public beta on October 22nd and is expected to explore VR capabilities;

3. Scroll tokens will go live on the exchange on October 22nd at 18:00;

4. Moonveil, the Layer2 gaming ecosystem, will conduct a node sale, with the public round going live on October 24th;

5. The deadline for the migration of Merit Circle’s MC tokens to BEAM will be October 26, 2024;

6. The Layer 1 blockchain Vega community passed a proposal to shut down the Vega chain, which is expected to remain up and running until at least October 27, giving users time to withdraw their assets.

Important Events

1. a Nigerian judge postponed the trial of Tigran Gambaryan, head of compliance at CoinSecurity, until October 25th.

Token Unlocking

1. Coin98 token C98 will be unlocked on October 23rd for approximately 16.08 million pieces, valued at approximately $2.15 million, or 1.61% of the current float;

2. Altlayer token ALT will be unlocked on October 25th for approximately 195.2 million pieces, valued at approximately $22.24 million, or 1.95% of the current float;

3. The NFPrompt token NFP will be unlocked on October 27th for approximately 10.42 million pieces, valued at approximately $2.35 million, or 1.04% of current circulation.

About Us

Hotcoin Research, as the core investment research department of Hotcoin, is dedicated to providing comprehensive and professional analysis of the crypto market. Our goal is to offer clear market insights and practical operational guidance for investors at all levels. Our professional content includes “Play to Earn Web3” tutorial series, in-depth analysis of crypto market trends, detailed analysis of potential projects, and real-time market observations. Whether you are a newcomer exploring the crypto world or a seasoned investor seeking deep insights, Hotcoin is your reliable partner for understanding and seizing market opportunities.

Risk Disclaimer

The crypto market is highly volatile, and investment involves risks. We strongly advise investors to fully understand these risks and operate within a strict risk management framework to ensure the safety of their funds.

Website：https://www.hotcoin.com/

X：x.com/HotcoinAcademy

Mail：labs@hotcoin.com

Medium：medium.com/@hotcoinglobalofficial