Daily Summary: Magic Eden unveils the ME Token tokenomics, crypto market enters extreme greed

According to Farside Investor data, the net inflow of US BTCSpot ETF was 255 million USD yesterday, with BlackRock IBIT seeing an inflow of 90 million USD, Fidelity FBTC seeing a net inflow of 60 million USD, and Grayscale Mini Trust BTC seeing an inflow of 54 million USD.

Yesterday, the US Ethereum Spot ETF saw an outflow of 15.10 million USD. Among them, Grayscale ETHE had an outflow of 13.30 million USD, and BlackRock ETHA data has not been disclosed yet.

Magic Eden Announces Tokenomics: Initial Airdrop Accounts for 12.5%

Magic Eden announced its ME Token tokenomics, with a total supply of 1 billion tokens. Token distribution will be completed within 4 years, with 50.2% allocated to the community. The community and ecosystem together account for 37.7%, with the initial community allocation accounting for 12.5% of the total supply. In addition, contributors account for 26.2%, and strategic participants account for 23.6%, both of which include lock-up periods. Magic Eden stated that an Airdrop verification website will be launched soon, but the specific date has not been announced yet.

The panic and greed index has risen to 90, remaining in a 'extreme greed' state

According to Alternative.me data, today's Cryptocurrency Fear and Greed Index rose to 90 (yesterday was 83), indicating that the market is still in a state of 'extreme greed'.

Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market volume (25%) + social media heat (15%) + market survey (15%) + proportion of BTC in the entire market (10%) + Google Hotword Analysis (10%).

Nvidia will release its financial report this Wednesday, and traders are betting that its stock will Fluctuation12% after the report is released.

Data from the Chicago Options Exchange shows that traders are betting that Nvidia's stock will pump or drop by about 12%, generating a market capitalization fluctuation of about $40.7 billion, on the next trading day after the financial report is released. Vishal Vivek, stock and derivatives trading strategist at Citigroup, said that based on Nvidia's past eight financial report days, its stock price has fluctuated an average of more than 9% after the report is released.

Investors are reportedly preparing for another significant pump in Nvidia stocks. They are buying a large number of options contracts that will yield returns if Nvidia's stock price pumps by over 10% this week.

Market Analysis: The concepts of RIF and URO are soaring, and the short-term market may face adjustments.

Market Hotspots

on-chain meme projects URO, RIF, BAN, etc., have experienced a big pump. RIF and URO are leading tokens in the Desci concept. RIF has pumped over 1000 times in the past month. RIF comes from the Pump.science platform, representing the compound Rifampicin (RIF). Pump.science is a meme coin platform launched by the Desci project Molecule DAO to support medical experiments in the form of meme coins. Pump Science officially stated that only $RIF / $URO are the official tokens.

In the early stage of this round of the US election market, leading Token PNUT, ACT and other major declines, first entered the adjustment phase. When the leading Token peaked and fell, it indicated the risk of a downward adjustment in the market in the short term;

Market Trends

BTC is still consolidating around $91,000. BTC ETF saw significant outflows for two consecutive days last week, but funds have started flowing back in yesterday. BTC is waiting to break the psychological barrier of $100,000.

ETH oscillates narrowly between $3000 and $3200. Only after BTC hits a new all-time high, ETH may show independent performance;

Altcoins are generally falling, with the market still lacking sustained hotspots, pumps mainly focused on on-chain small market cap memes, and VC Tokens with low circulation and high market cap still not favored by funds.

Macro News: The three major US stock indexes rose and fell, following Wednesday's Nvidia earnings report.

The three major US stock indices rose and fell differently, with the S&P 500 rising by 0.39% to 5893.62 points; the Dow Jones fell by 0.13% to 43389.60 points; and the Nasdaq rose by 0.60% to 18791.81 points. The 10-year US Treasury yield, Benchmark, is 4.42%, and the 2-year US Treasury yield, most sensitive to the Interest Rate policy of the Fed, is 4.29%.

US stocks Bakkt rose 162.46%, triggering the circuit breaker five times. On the news front, according to the Financial Times, a social media company owned by Trump is in deep negotiations about acquiring Bakkt, a Cryptocurrency trading platform under the Intercontinental Exchange, the company is working hard to expand its business beyond online conversations.

Bank of America Securities strategists expect that Nvidia's financial report, which will be released this Wednesday, will bring greater fluctuation compared to the next non-farm payroll data, consumer price index, or Federal Reserve decision.

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, and decisions should be made cautiously. This article is original, and the copyright belongs to Gate.io. Please indicate the author and source if you need to reprint, otherwise legal responsibilities will be pursued.