Daily Digest: BONK proposes a plan to burn 10 trillion BONK tokens, ROSE will undergo a large-scale unlock

According to Farside Investor data, the net outflow of $370 million from the US BTCSpot ETF last Friday, with Fidelity FBTC net outflow of $175 million and Ark ARKB net outflow of $108 million.

Last Friday, the US ETH Ethereum Spot ETF saw a outflow of $59.8 million. Among them, Fidelity FETH saw an outflow of $18.4 million, and Grayscale ETHE saw an outflow of $40.3 million.

BONK proposes a 'trillion-token burn plan,' rising over 40% in 24 hours

BONK announced that the DAO proposal was approved and 100 billion BONK, equivalent to $3.71 million, was burned on the 15th. Yesterday, BonkDAO announced again that it plans to burn 1 trillion BONK before Christmas in December. The large-scale burning plan (BURNmas) will start at 12:01 AM UTC on November 15th and end at 12:01 AM UTC on December 24th.

BONK core contributor @iamkadense said, "77 trillion BONK have been burned, and the daily burn rate is still increasing. In addition to the recent burn of 100 billion BONK, another 1 trillion BONK will be burned during BURNmas, and the community may not stop there."

According to the market data from gate, Solana on-chain MEME Token BONK today temporarily surpassed WIF in Market Cap, becoming the highest Market Cap MEME Token on Solana on-chain, with the current Market Cap of 4 billion dollars and a 24-hour increase of 40%.

Opinion: If BTC becomes a strategic reserve asset, it may signal the end of the Federal Reserve's leadership position in global monetary policy

Lightspark co-founder and chief strategy officer, Christian Catalini, founder of the cryptoeconomics lab at MIT (he was also a co-founder of the failed Diem/Libra project), shared his views on US debt, BTC strategic reserves proposal, and the call to replace Fed Chairman Powell.

Catalini believes that although there is some false advertising in the market, the United States is not actually facing a debt crisis. From a more macro perspective, the world has accumulated debt, especially after the global financial crisis in 2008. While this does not mean that excessive debt is a good thing, it is a common problem that almost every country must solve in some way. However, if Powell is impeached in January next year, it will undermine the SEC's institutional credibility and weaken the US dollar, which will raise doubts about the market's ability to maintain its debt. If BTC does become a strategic reserve asset in the future, this could signify the end of the Federal Reserve's leading role in global monetary policy.

This week's unlocking data overview: ROSE, ENA and other Tokens will see a larger amount of unlocking.

According to Tokenomist.ai data, ROSE, ENA and other Tokens will see a significant unlock next week, among which: Oasis (ROSE) will unlock approximately 176 million tokens at 0:00 on November 19th Beijing time, accounting for 2.62% of the current circulation, worth about $14.21 million; Ethena (ENA) will unlock approximately 12.86 million tokens at 15:00 on November 20th Beijing time, accounting for 0.45% of the current circulation, worth about $7.22 million; Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 on November 21st Beijing time, accounting for 0.05% of the current circulation, worth about $13.25 million;

Market Analysis: RWA zone OM surged, SUI hit another all-time high

Market Hotspots

RWA concept OM surged, with a 40% intraday increase and a over 200% increase in the past 7 days. RWA is one of the main fresh narratives in the Cryptocurrency market this year, and OM is a Layer1 designed specifically for RWA asset chaining, benefiting from the market's follow of the RWA concept, OM has pumped over 200 times in the past year;

The MEME zone has rise and fall, Solana on-chain DOGE MEME BONK has seen a significant rise, with a rise of over 200% in the past two weeks. Its official announcement plans to destroy 10 trillion tokens in December. BONK's current circulating market capitalization is $4 billion, ranking 29th in market capitalization. The recent hot currency Squirrel PNUT has risen, benefiting from Musk's Twitter mention of PNUT again. PNUT's current circulating market capitalization is $1.8 billion, compared to the $60 billion market capitalization of DOGE Token, which is often mentioned by Musk. If Musk continues to mention PNUT, then PNUT still has a considerable space.

Public chain zone SOL, SUI and other major gains, SOL is just one step away from its historical high, while SUI has set a new historical high after a brief adjustment; SUI is the main Layer1 speculation in this round of market, and market views believe that after SUI continues to set new historical highs, funds will overflow to the meme on SUI chain;

Market Trend

BTC remained in a slight adjustment trend over the weekend, falling below 89 billion USD at one point, but rebounded this morning. It is currently consolidating around 90,500 USD. From the perspective of funding and macro policies, BTC does not face significant downside risks for now.

ETH has relatively weak performance. Last Friday, ETH ETF saw another large inflow of nearly $60 million, and selling pressure from Grayscale ETHE may continue for several months, which is significant selling pressure for ETH's price.

Altcoin rotation, old-school altcoins like XRP, ADA pump, while previous strong meme coins like NEIROCTO enter a consolidation phase;

Macro News: US stocks collectively fell last week, and the market lowered expectations of Fed interest rate cuts

Last Friday, the three major U.S. stock indexes all fell, with the S&P 500 falling 1.32% to 5870.62 points, the Dow Jones Industrial Average falling 0.70% to 43444.99 points, and the Nasdaq Composite Index falling 2.24% to 18680.12 points. Last week, the Dow Jones Industrial Average fell 1.24% for the week, the Nasdaq Composite Index fell 3.15% for the week, and the S&P 500 fell 2.08% for the week. The benchmark 10-year U.S. Treasury yield is 4.43%, and the 2-year U.S. Treasury yield, which is most sensitive to the Federal Reserve's interest rate policy, is 4.31%.

As investors worry about the Federal Reserve slowing down its rate cuts and the cooling of the 'Trump trade', the three major US stock indexes have collectively weakened. Despite the pullback in US stocks, there are still optimistic voices in the market. A survey by Bank of America of fund managers showed that they generally predict that, driven by the Trump administration's pro-business policies, US stocks will be the best-performing asset next year. In addition to the US stock market, global stock markets and gold will also perform well next year.

Author: Icing, Gate.io researcher This article represents only the author's point of view and does not constitute any trading advice. Investment carries risks, so decisions should be made carefully. This article is original, and the copyright belongs to Gate.io. If you need to reprint it, please indicate the author and source, otherwise legal responsibilities will be pursued.