Daily News | SUI Hit a Historic High, NEIROETH Whale Traders Surged

2024-10-14, 04:16

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## Crypto Daily Digest: NEIROETH holders increased significantly, and ARB will welcome large unlocking
According to Farside Investor data, there was a net inflow of $253 million into US spot <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> ETFs last Friday, including $117 million from Fidelity FBTC, $97.6 million from ARKB, and no inflow or outflow of funds from BlackRock IBIT.

Last Friday, the US <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> ETF had a net outflow of $100,000, with $8.6 million from Fidelity FETH and $8.7 million from Grayscale GBTC.

**If <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> falls below $61,000, the cumulative liquidation strength of mainstream CEX orders will reach 653 million**

According to Coinglass data, if Bitcoin falls below $61,000, the cumulative liquidation strength of mainstream CEX orders will reach 653 million; On the contrary, if Bitcoin breaks through $64,000, the cumulative liquidation strength of mainstream CEX short orders will reach 848 million.

The liquidation chart does not display the exact number of contracts to be liquidated or their precise value. The columns on the clearing chart 
show the importance, i.e. strength, of each clearing cluster relative to its neighboring clearing clusters.

Therefore, the liquidation chart shows to what extent the target price will be affected when it reaches a certain position. A higher “liquidation column” indicates that the price will have a stronger reaction due to the wave of liquidity once it arrives.

**ARB, AXS and other tokens will receive a one-time large-scale unlocking, worth approximately $220 million**

According to Token Unlocks data, ARB, AXS and other tokens will receive significant unlocking next week, with a value of approximately $220 million. Among them:

Arbitrarum (ARB) will unlock approximately 92.65 million tokens at 9 pm Beijing time on October 16, with a ratio of 2.56% to the current <a href="/id/price/flow-flow" target="_blank" class="blog_inner_link">flow</a> and a value of approximately $49.4 million;

<a href="/id/price/axie-infinity-axs" target="_blank" class="blog_inner_link">Axie Infinity</a> (AXS) will unlock approximately 9.25 million tokens at 9:10 pm Beijing time on October 14, with a current flow ratio of 6.08% and a value of approximately $43.1 million;

Eigenlayer (EIGEN) will unlock approximately 11.22 million tokens at 3 a.m. Beijing time on October 16, representing 6.01% of the current flow and approximately $43.9 million in value.

**NEIROETH whale activity surged recently, with GSR currently holding 4.04% of the total supply of tokens**

According to Spot On Chain monitoring, Neiro on ETH (NEIROETH on Gate site) seems to have exited the accumulation stage, and whales have become more active, with buyers including GSR Markets, currently holding 40.4 million NEIROETH, accounting for 4.04% of the total supply. The last increase in holdings was two days ago; Smart Money 0xe9f sold OM and ATH worth $1 million 3 hours ago, exchanging them for the first batch of 8.45 million coins; bwecapital.eth accumulated 4.065 million coins two days ago, accounting for 0.4% of the circulating supply;

The sellers include entities that profited $145 million from SHIB and sold 17.5 million units five days ago, resulting in a loss of $1.49 million (-55%); Whale 0x00D deposited 4.7 million coins ($531,000) into CEX in the past 17 hours, earning $247,000 (+87%).

## Market Trends: SUI hit a historic high, fan tokens collectively rose
### Market Hotspots
SUI broke through $2.2, continuing to set a new historical high, with new public chain projects such as APT and TIA following suit. SUI is the leading token in the public chain sector in this round of market trends, with an overall market cap ranking in the top 20;

The rise of fan tokens such as CHZ, OG, and PSG, and the collective increase of fan tokens often indicates the end of the short-term market trend and may soon enter an adjustment zone;

BOME rose by over 10%, driving other <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> on chain meme projects like MANKEI and PENG to follow suit.

### Mainstream Coins
BTC is still volatile between $60,000 and $66,000, and the price is currently in the middle of the Bollinger Bands. This week is a critical period for BTC's future price trend;

ETH's performance is weak, with ETH ETF trading volume and fund inflows far below expectations, and ETH's weekly volatility is less than 10%;

Altcoins generally declined, with leading tokens such as POPCAT and FTM experiencing a pullback earlier, and there are currently no other leading projects in the market.

## Macroeconomics: The US stock market collectively closed higher last Friday, and the probability of the Fed cutting interest rates by 25 basis points in November has significantly increased
The three major US stock indices collectively closed higher, with the S&P 500 index rising 0.61% to 5,815.03 points; The Dow Jones Industrial Average rose 0.97% to 42,863.86 points; The Nasdaq index rose 0.33% to 18,342.94 points. Last week, the Dow Jones Index rose by 1.21%, the Nasdaq Index rose by 1.13%, and the S&P 500 Index rose by 1.11%. The benchmark 10-year Treasury yield is 4.08%, while the 2-year Treasury yield, most sensitive to the Federal Reserve policy rate, is 3.95%.

The minutes of the Federal Reserve's September meeting released last week showed a deeper divergence in the magnitude of the rate cut. Although Powell led the vote almost unanimously to support a 50 basis point rate cut, not only did  Governor Bauman advocate a 25 basis point rate cut, but more officials believed that policy normalization should be gradual.

On Thursday, data showed that the US CPI for September increased by 2.4% year-on-year and 0.2% month-on-month; The core CPI increased by 3.3% year-on-year and 0.3% month-on-month, both exceeding market expectations. From the focus on super core service inflation by Federal Reserve Chairman Powell, the year-on-year and month-on-month growth rates in September decreased by 0.02%. They increased by 0.06% respectively, compared to August, with month-on-month growth rates rising for three consecutive months.

The data shows that the anti-inflation process in the United States is beginning to slow down, and the previously feared risk of a rebound in core inflation is emerging. This may significantly impact the pace and magnitude of subsequent interest rate cuts. After the data was released, traders bet that the likelihood of the Federal Reserve cutting interest rates by 25 basis points in November is higher than 80%.

<div class="blog-details-info">
<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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