Web3 Investment Weekly | This week the market continues its upward trend; the assets under management of US BTC ETFs surpassed $100 billion; SUI network experienced downtime.
The overall market situation of the encryption market continued the recent favourable information within the week, showing a clear upward trend, and most mainstream encryption tokens saw different degrees of price increase in the week. Currently, due to the return of a large number of retail investor encryption users to the market, as well as various corporate investments, the overall market capitalization of the encryption market further increased, and the mainstream market sentiment remains relatively optimistic. This week, the price of BTC continued to hit a historical high, breaking through the $98,000 mark and approaching the $100,000 mark. The BTC market share remained at around 59%, with the weekly price reaching near $98,805, another historical high. Overall, the prices of various key mainstream tokens this week are in a period of fluctuation and upward movement, and further upward movement is expected in the future, but there is still a probability of a market pullback. The current market sentiment is around 88, and there is expected to be new market changes during the weekend closing period. The overall market capitalization of the encryption market has significantly risen compared to the same period last week, reaching around $3.26 trillion, with a 6.09% pump in the past 24 hours.
Compared to last week, the Cryptocurrency market has continued to rise overall this week, with various Favourable Information such as ETFs, corporate investments, and bill promotion appearing one after another. BTC continues to lead the overall market with consecutive gains, with an increase of more than 10% in a week. The price of ETH has risen relatively small this week, with an increase of about 6.7%, currently maintained around $3,351.
The encryption market has shown a relatively clear overall performance this week, still showing a continuous rise in most Mainstream Token varieties due to the impact of the overall market, but it is still in a certain period of fluctuation. OM's 7-day increase this week reached about 108%, with the largest pump in price, currently maintaining around $3.63, in a stable trend.
There is a high probability that the overall market situation of Crypto Assets will continue to rise this weekend, but there is still a possibility of a small pullback.
Encryption Market
🔥CryptoQuant analyst MAC.D posted that BTCSpot ETF has accumulated 5.3% of the total existing BTC, and its Holdings have increased from 629,900 BTC at the beginning of the year to 1.05 million BTC, rising by 425,000 BTC.
🔥10x Research reports that the Google search trend for 'Meme Coins' has reached a historical high, surpassing the previous peak in March 2024.
🔥 Microstrategy Chairman Michael Saylor expressed support for the proposal of US Senator Cynthia Lummis to establish a strategic BTC reserve, which is crucial for strengthening the United States' economic leadership position.
🔥According to Cointelegraph, with the return of the memecoin craze, Solana's ecosystem DApps set a new high in fee income within 24 hours on November 18. DefiLlama data shows that five of the top ten protocols in terms of fee income are from Solana.
🔥Eli Ben Sasson, CEO of StarkWare, said during DevCon 2024 that the transaction speed of Starknet is expected to increase fourfold in the next 3 months, while Money Laundering will decrease fivefold.
🔥Japanese listed company Metaplanet issued a 1-year, 0.36% bond with a total of 1.75 billion yen, and the funds raised will be used to increase holdings of more BTC.
🔥This week, Crypto Assets have become the focus, outperforming traditional assets. The report from Bitwise Europe attributes this pump to the increasingly optimistic sentiment towards US policy measures and continued BTC supply tightening.
🔥On November 19th, the supply of BTC on the Cryptocurrency trading platform dropped significantly, reaching the lowest level since November 2018. This trend indicates that investors are increasingly inclined to hold BTC for the long term rather than actively trading.
🔥According to Forbes, securities filing documents show that hedge funds Millennium Management, Capula Management, Tudor Investment, etc. significantly increased their holdings of the US SpotBTC ETF in the third quarter.
🔥On November 19th, according to relevant page information, the official homepage background of McDonald's has been updated to the Doodles theme.
🔥10x Research pointed out in its market analysis that the key barrier to listing BTCSpot ETF Options has been cleared, and IBIT Options trading is expected to begin on Tuesday, November 19, 2024.
🔥On November 19, according to official sources, healthcare group Cosmos Health (NASDAQ stock code: COSM) announced that it will include BTC and ETH as part of its treasury reserve assets, and the company recently acquired the AI-driven drug reutilization platform Cloudscreen.
🔥Matrixport released a chart showing that the BTC futures holdings have exceeded 30 billion USD, plus 14 billion USD futures contracts from the Chicago Mercantile Exchange (CME), setting a new high for the year.
🔥NASDAQ exchange listed options for iShares BTC Trust ETF, owned by BlackRock, on Tuesday. Data shows over 350,000 contracts traded, with about 80% being bullish bets.
🔥According to official news, Canadian investment fund SOL Global Investments announced that it has reached a protocol with Canaccord Genuity Corp. and Clarus Securities Inc. as joint lead underwriters and joint bookrunners, representing a group of underwriters. Under the protocol, the underwriters will sell up to 18 million shares to the company at an issuance price of $0.20 per share in an 'best efforts' agency issuance manner.
🔥MicroStrategy (MSTR) has just entered the top 100 public companies in the United States, currently ranking 97th. On Tuesday, the company's stock price surged by 12%, breaking through the $400 mark, with a Closing Price of $430, jumping 29 places in the rankings.
🔥According to Whale Alert, around 3:36 AM Beijing time on Wednesday, Tether Treasury minted 1 billion USDT on the Ethereum blockchain. Paolo Ardoino, the CEO of Tether, commented that this transaction is authorized but not yet issued, which means it will be used as inventory for the next issuance request and on-chain exchanges.
🔥According to Coindesk, according to the data from DefiLlama, the Stable Coin USDe issued by Ethena Labs has attracted approximately $1 billion in new funds in the past month, and the Market Cap has rebounded to $3.46 billion, which is only 5% lower than the historical high of $3.6 billion set in July.
🔥BNB Chain announced that the Beacon Chain Fusion Final Sunset Hard Fork upgrade has been successfully completed. The bridge between Beacon Chain and BSC has ceased operation. Beacon Chain validators have agreed to stop their validators from 6:00 AM UTC on December 3rd.
🔥According to Edaily, two major South Korean gaming companies, Nexon and Wemade, have confirmed that they currently have no plans to profit from their holdings of Bitcoin (BTC).
🔥On November 21st, according to market news, with BTC continuing to set record highs, the total assets of the US exchange traded fund directly investing in BTC exceeded 100 billion US dollars.
🔥The ETF Store President Nate Geraci stated in a post on X: "In addition to the listing of Grayscale and Bitwise's encryption index funds, there are currently applications for the following Spot ETFs: -SOL -XRP -HBAR Speculation that at least one issuer has also attempted ADA or AVAX ETFs."
🔥Sonic Labs (formerly Fantom) officially announced in the X teaser that Sonic will go live on a day in December. Sonic Labs CEO Michael Kong added that it will not be on the 27th or 31st, implying that it will go live earlier in the month.
🔥On November 21, according to the prediction of "Binance's next Spot coin project" on Polymarket, meme coin POPCAT ranks first with a 21% probability, followed by GOAT and Moodeng in 2nd and 3rd place.
🔥MicroStrategy currently holds 331,200 BTC, purchased at an average price of $49,874, with a total cost of $16.51 billion. Based on the current BTC price, MicroStrategy's BTC holdings now have a profit of over $15.5 billion.
🔥On November 21, according to browser data, SUI Network experienced a crash.
Regulatory & Macroeconomic Policies
🔥According to CNA, Taiwan's "legislator" raised concerns about the taxation of Cryptocurrency in Taiwan on November 18th. Minister of Finance, Su Tsui-yun, stated that profits from related transactions are subject to income tax, and further discussion will be conducted on the audit aspect; Shong Hsiu-ling, the director of the tax authorities, mentioned that the tax department currently has audit tools to examine the situation of digital commodity transactions, and promised to discuss methods related to the taxation of Cryptocurrency transactions within 3 months.
🔥On November 18, asset management company and SpotBTC ETF issuance firm BlackRock obtained a business license to operate in the capital of the United Arab Emirates, Abu Dhabi.
🔥In the past week, institutional investment managers with at least $100 million in stock assets have submitted 13F reports to the U.S. SEC. These reports are required to be submitted within 45 days after the end of each quarter to understand the manager's stock holdings.
🔥Ledn co-founder Mauricio di Bartolomeo said that there is a possibility of a strategic BTC reserve being established in the United States after a strategic BTC reserve bill was proposed in one state. Last week, shortly after the introduction of the 'Pennsylvania BTC Strategic Reserve Bill', BTC price experienced a pump. The bill aims to allow the state to invest 10% of certain funds, including general funds, rainy day funds, and national investment funds, in BTC.
🔥On November 21, according to The Block, the US SEC postponed a decision on the Franklin encryption index ETF EZPZ, as disclosed in a document on Wednesday. Franklin Templeton submitted a registration statement to the agency in August for the Franklin encryption index ETF, which will hold both Ethereum and Bitcoin.
Encryption Market Highlights
⭐️In the past week, the cryptocurrency market has continued its recent trend, showing a continuous pump trend, mainly influenced by the rapid inflow of external funds and overall bullish expectations. The trend of oscillating upward was very obvious within the week. As the closing period of the weekend approaches, the overall market still shows no signs of fatigue, but there is a possibility of a slight pullback.
⭐️This week, there are many mainstream coins with obvious pump in the market, and the overall rise of the market, the pump amplitude of the head rise coins is relatively large. However, as a newly listed coin, OM has experienced continuous large-scale price rise this week, with a current seven-day increase of about 113%. There is a pullback trend in the short term, but overall it is relatively stable. The price of this coin is currently maintained around $3.7, and further price changes are expected to come in the following week, but there is a high probability of a small pullback in the closing period.
(Data Source: coinmarketcap)
BTC & Ethereum Weekly Performance
BTC (BTC)
(Data Source: TradingView)
Within this week, the price of BTC once again showed continuous pump trend, oscillating upwards from around $90,000 and continuously breaking through multiple high points. BTC has once again set multiple historical high prices this week, and there is a high probability of breaking through $100,000 in the future. The high point of BTC price this week is around $99,000, and the low point is around $88,700 at the opening of the week.
Analysis believes that the price changes of BTC this week are still mainly due to the recent continuous large-scale net inflows of external funds in the market, coupled with the overall bullish prospects of the crypto market and the promotion of relevant laws in various places, which has led to the continuation of clear and continuous pump of BTC prices.
Ethereum (ETH)
(Data Source: TradingView)
ETH's price movement this week has been relatively small compared to BTC, but there has been a more direct and rapid pump trend in the short term. Currently, ETH has entered a relatively stable oscillation channel. This week, ETH has basically followed the trend of BTC, and the current price is maintained around $3350. ETH has risen by about 8% in the past week. Currently, this cryptocurrency is in a continuous oscillation phase, and there are expected to be more pronounced price changes during the weekend.
Web3 Project Trends
This week, most of the total market capitalization of seven categories of projects has shown a continuous pump trend. The overall market performance this week is mainly characterized by oscillating upward movement. There is a probability of a pullback in the overall market before the end of the weekend, and it is expected to enter a clear price movement range during the weekend.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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Ybaser
· 2024-11-22 13:09
To Da Moon 🌕
View OriginalReply0
GateUser-8398798d
· 2024-11-22 11:53
To Da Moon 🌕To Da Moon 🌕To Da Moon 🌕To Da Moon 🌕To Da Moon 🌕To Da Moon 🌕
Web3 Investment Weekly | This week the market continues its upward trend; the assets under management of US BTC ETFs surpassed $100 billion; SUI network experienced downtime.
Weekly Overview
The overall market situation of the encryption market continued the recent favourable information within the week, showing a clear upward trend, and most mainstream encryption tokens saw different degrees of price increase in the week. Currently, due to the return of a large number of retail investor encryption users to the market, as well as various corporate investments, the overall market capitalization of the encryption market further increased, and the mainstream market sentiment remains relatively optimistic. This week, the price of BTC continued to hit a historical high, breaking through the $98,000 mark and approaching the $100,000 mark. The BTC market share remained at around 59%, with the weekly price reaching near $98,805, another historical high. Overall, the prices of various key mainstream tokens this week are in a period of fluctuation and upward movement, and further upward movement is expected in the future, but there is still a probability of a market pullback. The current market sentiment is around 88, and there is expected to be new market changes during the weekend closing period. The overall market capitalization of the encryption market has significantly risen compared to the same period last week, reaching around $3.26 trillion, with a 6.09% pump in the past 24 hours.
Compared to last week, the Cryptocurrency market has continued to rise overall this week, with various Favourable Information such as ETFs, corporate investments, and bill promotion appearing one after another. BTC continues to lead the overall market with consecutive gains, with an increase of more than 10% in a week. The price of ETH has risen relatively small this week, with an increase of about 6.7%, currently maintained around $3,351.
The encryption market has shown a relatively clear overall performance this week, still showing a continuous rise in most Mainstream Token varieties due to the impact of the overall market, but it is still in a certain period of fluctuation. OM's 7-day increase this week reached about 108%, with the largest pump in price, currently maintaining around $3.63, in a stable trend.
There is a high probability that the overall market situation of Crypto Assets will continue to rise this weekend, but there is still a possibility of a small pullback.
Encryption Market
🔥CryptoQuant analyst MAC.D posted that BTCSpot ETF has accumulated 5.3% of the total existing BTC, and its Holdings have increased from 629,900 BTC at the beginning of the year to 1.05 million BTC, rising by 425,000 BTC.
🔥10x Research reports that the Google search trend for 'Meme Coins' has reached a historical high, surpassing the previous peak in March 2024.
🔥 Microstrategy Chairman Michael Saylor expressed support for the proposal of US Senator Cynthia Lummis to establish a strategic BTC reserve, which is crucial for strengthening the United States' economic leadership position.
🔥According to Cointelegraph, with the return of the memecoin craze, Solana's ecosystem DApps set a new high in fee income within 24 hours on November 18. DefiLlama data shows that five of the top ten protocols in terms of fee income are from Solana.
🔥Eli Ben Sasson, CEO of StarkWare, said during DevCon 2024 that the transaction speed of Starknet is expected to increase fourfold in the next 3 months, while Money Laundering will decrease fivefold.
🔥Japanese listed company Metaplanet issued a 1-year, 0.36% bond with a total of 1.75 billion yen, and the funds raised will be used to increase holdings of more BTC.
🔥This week, Crypto Assets have become the focus, outperforming traditional assets. The report from Bitwise Europe attributes this pump to the increasingly optimistic sentiment towards US policy measures and continued BTC supply tightening.
🔥On November 19th, the supply of BTC on the Cryptocurrency trading platform dropped significantly, reaching the lowest level since November 2018. This trend indicates that investors are increasingly inclined to hold BTC for the long term rather than actively trading.
🔥According to Forbes, securities filing documents show that hedge funds Millennium Management, Capula Management, Tudor Investment, etc. significantly increased their holdings of the US SpotBTC ETF in the third quarter.
🔥On November 19th, according to relevant page information, the official homepage background of McDonald's has been updated to the Doodles theme.
🔥10x Research pointed out in its market analysis that the key barrier to listing BTCSpot ETF Options has been cleared, and IBIT Options trading is expected to begin on Tuesday, November 19, 2024.
🔥On November 19, according to official sources, healthcare group Cosmos Health (NASDAQ stock code: COSM) announced that it will include BTC and ETH as part of its treasury reserve assets, and the company recently acquired the AI-driven drug reutilization platform Cloudscreen.
🔥Matrixport released a chart showing that the BTC futures holdings have exceeded 30 billion USD, plus 14 billion USD futures contracts from the Chicago Mercantile Exchange (CME), setting a new high for the year.
🔥NASDAQ exchange listed options for iShares BTC Trust ETF, owned by BlackRock, on Tuesday. Data shows over 350,000 contracts traded, with about 80% being bullish bets.
🔥According to official news, Canadian investment fund SOL Global Investments announced that it has reached a protocol with Canaccord Genuity Corp. and Clarus Securities Inc. as joint lead underwriters and joint bookrunners, representing a group of underwriters. Under the protocol, the underwriters will sell up to 18 million shares to the company at an issuance price of $0.20 per share in an 'best efforts' agency issuance manner.
🔥MicroStrategy (MSTR) has just entered the top 100 public companies in the United States, currently ranking 97th. On Tuesday, the company's stock price surged by 12%, breaking through the $400 mark, with a Closing Price of $430, jumping 29 places in the rankings.
🔥According to Whale Alert, around 3:36 AM Beijing time on Wednesday, Tether Treasury minted 1 billion USDT on the Ethereum blockchain. Paolo Ardoino, the CEO of Tether, commented that this transaction is authorized but not yet issued, which means it will be used as inventory for the next issuance request and on-chain exchanges.
🔥According to Coindesk, according to the data from DefiLlama, the Stable Coin USDe issued by Ethena Labs has attracted approximately $1 billion in new funds in the past month, and the Market Cap has rebounded to $3.46 billion, which is only 5% lower than the historical high of $3.6 billion set in July.
🔥BNB Chain announced that the Beacon Chain Fusion Final Sunset Hard Fork upgrade has been successfully completed. The bridge between Beacon Chain and BSC has ceased operation. Beacon Chain validators have agreed to stop their validators from 6:00 AM UTC on December 3rd.
🔥According to Edaily, two major South Korean gaming companies, Nexon and Wemade, have confirmed that they currently have no plans to profit from their holdings of Bitcoin (BTC).
🔥On November 21st, according to market news, with BTC continuing to set record highs, the total assets of the US exchange traded fund directly investing in BTC exceeded 100 billion US dollars.
🔥The ETF Store President Nate Geraci stated in a post on X: "In addition to the listing of Grayscale and Bitwise's encryption index funds, there are currently applications for the following Spot ETFs: -SOL -XRP -HBAR Speculation that at least one issuer has also attempted ADA or AVAX ETFs."
🔥Sonic Labs (formerly Fantom) officially announced in the X teaser that Sonic will go live on a day in December. Sonic Labs CEO Michael Kong added that it will not be on the 27th or 31st, implying that it will go live earlier in the month.
🔥On November 21, according to the prediction of "Binance's next Spot coin project" on Polymarket, meme coin POPCAT ranks first with a 21% probability, followed by GOAT and Moodeng in 2nd and 3rd place.
🔥MicroStrategy currently holds 331,200 BTC, purchased at an average price of $49,874, with a total cost of $16.51 billion. Based on the current BTC price, MicroStrategy's BTC holdings now have a profit of over $15.5 billion.
🔥On November 21, according to browser data, SUI Network experienced a crash.
Regulatory & Macroeconomic Policies
🔥According to CNA, Taiwan's "legislator" raised concerns about the taxation of Cryptocurrency in Taiwan on November 18th. Minister of Finance, Su Tsui-yun, stated that profits from related transactions are subject to income tax, and further discussion will be conducted on the audit aspect; Shong Hsiu-ling, the director of the tax authorities, mentioned that the tax department currently has audit tools to examine the situation of digital commodity transactions, and promised to discuss methods related to the taxation of Cryptocurrency transactions within 3 months.
🔥On November 18, asset management company and SpotBTC ETF issuance firm BlackRock obtained a business license to operate in the capital of the United Arab Emirates, Abu Dhabi.
🔥In the past week, institutional investment managers with at least $100 million in stock assets have submitted 13F reports to the U.S. SEC. These reports are required to be submitted within 45 days after the end of each quarter to understand the manager's stock holdings.
🔥Ledn co-founder Mauricio di Bartolomeo said that there is a possibility of a strategic BTC reserve being established in the United States after a strategic BTC reserve bill was proposed in one state. Last week, shortly after the introduction of the 'Pennsylvania BTC Strategic Reserve Bill', BTC price experienced a pump. The bill aims to allow the state to invest 10% of certain funds, including general funds, rainy day funds, and national investment funds, in BTC.
🔥On November 21, according to The Block, the US SEC postponed a decision on the Franklin encryption index ETF EZPZ, as disclosed in a document on Wednesday. Franklin Templeton submitted a registration statement to the agency in August for the Franklin encryption index ETF, which will hold both Ethereum and Bitcoin.
Encryption Market Highlights
⭐️In the past week, the cryptocurrency market has continued its recent trend, showing a continuous pump trend, mainly influenced by the rapid inflow of external funds and overall bullish expectations. The trend of oscillating upward was very obvious within the week. As the closing period of the weekend approaches, the overall market still shows no signs of fatigue, but there is a possibility of a slight pullback.
⭐️This week, there are many mainstream coins with obvious pump in the market, and the overall rise of the market, the pump amplitude of the head rise coins is relatively large. However, as a newly listed coin, OM has experienced continuous large-scale price rise this week, with a current seven-day increase of about 113%. There is a pullback trend in the short term, but overall it is relatively stable. The price of this coin is currently maintained around $3.7, and further price changes are expected to come in the following week, but there is a high probability of a small pullback in the closing period.
(Data Source: coinmarketcap)
BTC & Ethereum Weekly Performance
BTC (BTC)
(Data Source: TradingView)
Within this week, the price of BTC once again showed continuous pump trend, oscillating upwards from around $90,000 and continuously breaking through multiple high points. BTC has once again set multiple historical high prices this week, and there is a high probability of breaking through $100,000 in the future. The high point of BTC price this week is around $99,000, and the low point is around $88,700 at the opening of the week.
Analysis believes that the price changes of BTC this week are still mainly due to the recent continuous large-scale net inflows of external funds in the market, coupled with the overall bullish prospects of the crypto market and the promotion of relevant laws in various places, which has led to the continuation of clear and continuous pump of BTC prices.
Ethereum (ETH)
(Data Source: TradingView)
ETH's price movement this week has been relatively small compared to BTC, but there has been a more direct and rapid pump trend in the short term. Currently, ETH has entered a relatively stable oscillation channel. This week, ETH has basically followed the trend of BTC, and the current price is maintained around $3350. ETH has risen by about 8% in the past week. Currently, this cryptocurrency is in a continuous oscillation phase, and there are expected to be more pronounced price changes during the weekend.
Web3 Project Trends
This week, most of the total market capitalization of seven categories of projects has shown a continuous pump trend. The overall market performance this week is mainly characterized by oscillating upward movement. There is a probability of a pullback in the overall market before the end of the weekend, and it is expected to enter a clear price movement range during the weekend.