Announcements Gate Research: BTC Hits New Highs, Bitwise Files Solana ETF, Stablecoin Exceeds $190B

Gate Research: BTC Hits New Highs, Bitwise Files Solana ETF, Stablecoin Exceeds $190B

2024-11-21 09:29:36 UTC 1537 Read

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**Gate Research Weekly Review**: This week, BTC price repeatedly hit new highs, reaching a 7-day peak of $94,643.6, with buying pressure continuing to strengthen. ETH showed relative weakness, dropping 4.93% over the week, overall in a weak oscillating trend. Crypto asset management company Bitwise registered a Solana ETF in Delaware, USA, following its previous application for an XRP ETF. USDT market cap surpassed $130 billion, a historic high, reflecting more capital flowing into the crypto market. Crypto lending platform Polter Finance suffered a hacker attack, losing $12 million. Crypto gambling platform Monkey Tilt completed a $30 million funding round led by Pantera Capital.

**Market Analysis:** Bitcoin's price repeatedly hit new highs this week, reaching a 7-day peak of $94,643.60. Buying pressure continues to strengthen. In contrast, Ethereum showed relative weakness, dropping 4.93% over the week and displaying an overall weak oscillating trend.

**Weekly Spotlights: **Crypto asset management firm Bitwise registered a Solana ETF in Delaware, USA, demonstrating its proactive stance in the crypto ETF market. In a setback for the industry, crypto lending platform Polter Finance fell victim to a hacker attack, resulting in a loss of $12 million.

**Data Highlights: **Crypto market liquidation data: Over $390 million liquidated in 24 hours, with short positions accounting for only 28% of liquidations. Stablecoin USDT's market cap exceeded $130 billion, reaching a new all-time high. Approximately $9 billion in USDT has been issued since Trump's victory in the US presidential election on November 6.

**Market Opportunities:** This week's airdrop project to watch is SynFutures. It's a decentralized derivatives exchange that pioneered a permissionless contract market model. SynFutures allows anyone to list a token in just 30 seconds by adding liquidity with a single token. The platform supports both expiring and perpetual contracts.

**What to Watch Next Week:** On November 22, the U.S. will release the final expected one-year inflation rate for November. This is significant because the Federal Reserve typically raises interest rates when inflation is high and lowers them when it's low. Additionally, on November 27, HashKey Cloud, Google Cloud, and Cobo will collaborate to host an offline event in Hong Kong titled "Digital Asset Management Solutions Day."

Deep Dive into This Week's Review 👉🏻  [Gate Research: BTC Hits New Highs, Bitwise Files Solana ETF, Stablecoin Exceeds $190B](https://www.gate.io/learn/articles/gate-research-btc-hits-new-highs-bitwise-files-solana-etf-stablecoin-exceeds-190b/4792?ch=GSW_ann_20241121&utm_campaign=TR_wdzvSx8k&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=)

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Gate.io Team
Nov 22tnd, 2024

Gate Research: BTC Hits New Highs, Bitwise Files Solana ETF, Stablecoin Exceeds $190B

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