Preface:
Bitcoin and Ethereum have risen by 0.77% and 0.43% respectively in the past 24 hours, with current prices at $67,641 and $2,618. The ETH/BTC exchange rate remains at 0.04. The crypto market’s Fear & Greed Index stands at 71, showing greed.

Market Trending

The overall market continued to rise yesterday, with Bitcoin climbing for three consecutive days. It peaked at $68,400 yesterday and is currently waiting to break through above $67,500. Bitcoin’s market dominance reached 58.79%, setting a new high for this bull run. In contrast, altcoins performed weaker, dropping by an average of 3%. The altcoin/BTC ratio has hit a low, indicating significant room for future growth. In November, the probability of a 25bp rate cut by the Federal Reserve is 94.1%. At the same time, the U.S. Elections will take place in that month, leading to expected volatility, so investors should pay close attention.
Public Chain Sector:
Tokens from major public chains like SUI and SOL, which had strong previous performances, have seen price corrections. The SUI and SOL ecosystems continue to witness active meme projects, with the number of active addresses hitting new highs.
DeFi Sector:
RDNT dropped more than 10% due to a hacker attack, while UNI experienced volatility following Uniswap’s release of Unichain, showing mixed performance for five consecutive days.
Meme Sector:
DOGE, the leader in this sector, surged more than 10% yesterday. GOAT meme tokens have been very active, with GOAT’s market cap peaking at $300 million yesterday.
Inscription Sector:
Main inscription tokens like ORDI, SATS, and PIZZA saw an increase in trading volume, but no significant price movements were observed.

Spot Bitcoin ETF Flows

Yesterday, the U.S. Bitcoin Spot ETF saw a net inflow of $458.7 million, marking four consecutive days of net inflows exceeding $200 million. Among them: IBIT saw a net inflow of $390 million, FBTC saw $14.81 million and BITB saw $12.93 million.
Meanwhile, the U.S. Ethereum Spot ETF had a net inflow of $24.21 million yesterday, including: ETHA with $11.88 million, FETH with $8.50 million.

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Daily Spotlight

Today’s hot project is DOGE, with a 24-hour increase of 10.37%.
DOGE, short for Dogecoin, was created by software engineers Billy Markus and Jackson Palmer on December 6, 2013. It originated as a joke, inspired by the Doge meme (funny images featuring Shiba Inu dogs) that was popular on the internet at the time. Over time, Dogecoin evolved into a community-driven virtual currency, widely used in internet culture and charitable activities. DOGE had an initial supply of 100 billion in its first year, followed by 5 billion annually without a cap. DOGE has risen 10.37% over the past 24 hours and ranks 7th in market cap, exceeding $18 billion.

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The Word on the Street

FOX Election Poll: Trump Leads Harris Nationally with 50% to 48%.
Former President Trump leads Vice President Kamala Harris 50%-48% in the presidential race, a sharp contrast to Harris’ slight lead last month. However, Harris leads by 6 percentage points among voters in seven key battleground states, and both candidates are tied at 49% in counties where the 2020 election was closely contested (with less than a 10% difference between Biden and Trump). Trump’s advantage lies in counties where he led by more than 10% in 2020 (64%-35%), compared to Harris’ lead in Biden-dominated counties (58%-39%).

Project Upgrade

African cryptocurrency exchange Yellow Card completed a $33 million Series C financing round, led by Blockchain Capital with participation from Kraken, OpenSea, and Worldcoin. This round of financing will be used to expand its B2B business. Yellow Card’s total financing now exceeds at least $88 million.
Previously, in September 2021, Yellow Card completed a $15 million Series A financing round led by Valar Ventures, Third Prime, and Castle Island Ventures. On September 19, 2022, Yellow Card Financial completed a $40 million Series B round led by Polychain Capital. This round of financing aimed to drive business growth, expansion into the African market, and product innovation.