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gate Research Institute: BTC repeatedly hits new highs, Bitwise registers Solana ETF in the US, Stable Coin total Market Cap breaks through 1,900 billion US dollars
Summary
Market Analysis
Market Review
Popular Concepts
This week, the price of BTC broke through a new high, and the performance of AltCoin in various zones was uneven. According to CoinGecko and CoinMarketCap data, in the past 7 days, Blockchain Capital Portfolio pumped 34.6%, Real World Assets (RWA) pumped 30.9%, and Pantera Capital Portfolio pumped 29.0%. The common reason for the pump in these zones is the effect of the fear of missing out (FOMO) sentiment, becoming a hot topic followed by the market in recent times. [8]
Blockchain Capital Portfolio —— In the past seven days pump 34.6%, with a market value of $91.01B as of now. The Blockchain Capital Portfolio zone includes a range of blockchain projects invested by Blockchain Capital, covering multiple areas such as Decentralized Finance, Non-fungible Tokens, and infrastructure. The rise of this zone benefits from the innovation of its investment projects in blockchain technology and applications, driving the overall market rise.
Among them, XRP (XRP) pumped 58.2% in the past seven days, UNI (Uniswap) pumped 1.0%, ICP (Internet Computer) pumped 5.5%.
Real World Assets （RWA） —— Over the past seven days pump 30.9%, Market Cap reached $13.29B. The RWA zone is a project that combines real-world assets (such as real estate, precious metals, etc.) with blockchain technology, aiming to provide decentralized and transparent solutions for traditional assets. As investors pay more attention to these innovative applications, the Market Cap of the RWA zone continues to rise.
In this zone, multiple projects are gaining more and more follow, especially innovative applications in the real estate and precious metals fields, further attracting the attention of traditional investors. Among them, OM (MANTRA) pumped 153.2% in the past seven days, ONDO (Ondo) pumped 14.0%, QNT (Quant) pumped 38.5%.
Pantera Capital Portfolio - Pumped 29.0% in the past seven days, with a market capitalization of $113.57B. The Pantera Capital Portfolio zone covers projects in multiple blockchain areas, particularly with significant layouts in Decentralized Finance and Layer 1 on-chain. As the market's recognition of these projects continues to increase, Pantera Capital's investment portfolio has significantly appreciated.
Among them, DESO (Decentralized Social) pump 63.0%, MIR (Mirror Protocol) pump 87.0%.
Hot Coin
According to gate data, the following popular currencies in the past 7 days are as follows:【9】
APEPE - APEPE, as a new memecoin, combines two popular cultural symbols - APE and PEPE, which has quickly gained follow in the cryptocurrency market. APEPE symbolizes small investors, especially in the memecoin market, such symbols can usually attract a wide range of social media users and community support, thereby stimulating strong market demand and price pump. Recently, there has been Favourable Information that APEPE will soon be listed on a certain centralized exchange, leading to a considerable pump in its price.
TOK —— TOKAI is an artificial intelligence short video application platform based on the Solana ecosystem. TOKAI has an open community with highly market-oriented pricing for AI data, technology, tools, etc. All participants can use Token as a carrier to achieve efficient popularization of AI technology. TOKAI combines Solana's high performance, market-oriented AI technology, and the huge demand in the short video industry, and may be significantly affected by the recent bullish market.
WNE —— Winee3 is a SocialFi super app based on Web3 technology, dedicated to transforming professional networks through AI matching, Non-fungible Token event tickets, and Token rewards. It provides an integrated platform where users can showcase their skills, participate in events, and earn rewards. By combining Web3 technology, AI matching, and Non-fungible Token event tickets, Winee3 has attracted a large number of users with its innovative professional network functionality and Token reward mechanism, and has seen a significant increase in response to the recent market recovery.
This week's focus
Hotspot Review
Crypto Asset Management Company Bitwise Registers Solana ETF in Delaware, USA Digital asset management company Bitwise has registered a statutory trust in Delaware for a proposed Solana Spot ETF fund, indicating that the company may soon submit an S-1 registration statement to the U.S. Securities and Exchange Commission. If approved, the Bitwise Solana ETF will seek to track the market capitalization of the fourth largest cryptocurrency. In October, Bitwise registered a Spot XRP ETF in Delaware and submitted an S-1 form to the SEC the next day. In January, Bitwise's BTC Spot ETF product was one of the first 11 BTC Spot ETFs approved by the SEC. Bitwise's continuous applications for various cryptocurrency ETFs demonstrate its proactive layout in the cryptocurrency ETF field. From BTC and ETH to XRP and Solana, Bitwise has been committed to being a pioneer in exploring the cryptocurrency ETF field. [10]
SEC will delay decision on Franklin Templeton's dual-currency encryption index ETF EZPZ According to The Block, the U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton's application for the Franklin Crypto Index ETF (code: EZPZ). The ETF plans to hold both BTC and Ethereum assets and will be custodied by Coinbase Custody Trust Company LLC. If approved, the fund will be listed on the Cboe BZX exchange. After receiving the application in August, the SEC announced on Wednesday that it will extend the evaluation period to fully consider the relevant issues in the proposal. The SEC's decision has had an impact on the sentiment of investors in the entire encryption asset market, and investors are closely following the progress of the event.
Schindlers Digital Assets Launches Cryptocurrency Real Estate Purchase Program in South Africa According to Bitcoin.comNew, Schindlers Digital Assets, Schindlers Attorneys, and Broll Auctions and Sales have jointly developed a Compliance process for South African Cryptocurrency holders to purchase real estate using BTC or Ethereum. This collaboration enables Schindlers to expand its Cryptocurrency product range, allowing buyers to use digital assets to invest in real estate. During the process, the legal property transfer will be handled by Schindlers Attorneys, while Broll Auctions will complete the entire process through real estate auctions. Schindlers Digital Assets has taken a solid step in exploring payment methods for real estate RWA.
Security Incident
Crypto Assets lending institution Polter Finance falls victim to a Hacker attack, losing $12 million On November 17th, Polter Finance suspended its platform after discovering a vulnerability and notified investors on its official account. The protocol investigated the stolen funds and traced them to a Wallet on Cryptocurrency exchange. According to Web3 security company TenArmor, Polter Finance lost $12 million due to a flash loan attack related to the price of Oracle Machine on its newly launched SpookySwap (BOO) market.
Polter has not yet confirmed the nature of this attack. Meanwhile, Polter Finance has contacted the Hacker through on-chain messages, providing room for negotiation. Polter Finance's losses include 7.87 million US dollars worth of FTM, 1.03 million US dollars worth of USDC, 251,000 US dollars worth of MIM, and 2.1 million US dollars worth of Stader sFTMX. Facing flash loan price attacks, lending platforms still have a lot of room for improvement in terms of security. The platform needs to continuously improve the security of Smart Contracts, strengthen monitoring and fixing of system vulnerabilities, and introduce more advanced security technologies to ensure the security of user assets. [13]
Project follow
Compatible EVM Layer1 Somnia launches developer network (Devnet), with significant performance advantages Somnia is a high-performance Layer1 compatible with EVM, incubated by Improbable, a metaverse technology company that has completed $150 million. Improbable introduced that the transaction processing capacity (TPS) of Somnia Layer1 exceeds 400,000 transactions per second; transaction latency is less than 1 second.
Somnia Developer Network is now open for Allowlist applications and invites developers to join as the first batch of builders in the Somnia ecosystem. To support innovation, Somnia has launched a funding program of up to 10 million US dollars and has partnered with industry-leading infrastructure providers such as Ankr, Hamera, and ThirdWeb to provide comprehensive support for developers. Developers can apply through the Allowlist to gain access to advanced development tools and test Somnia Tokens (STT) on the Developer Network (Devnet) by using the Faucet to claim them. [14]
Highlights Data
Cryptocurrency market Get Liquidated data: Over $390 million liquidated within 24 hours, BTC short order Get Liquidated accounted for 69% On November 20, BTC presented a unilateral pump market trend, quickly rising above $94,000 and then pulling back to around $93,400. In the past 24 hours, the total Get Liquidated amount for BTC reached $70.94 million, with $21.47 million from long orders and a high $49.47 million from short orders, accounting for 69%. The total Get Liquidated amount for cryptocurrencies in the past 24 hours was $391 million, with $279 million from long orders and a high $111 million from short orders. The short order Get Liquidated ratio was only 28%, contrasting sharply with BTC. Some tokens have performed well recently, but the market volatility is high, and there is still uncertainty about future trends. It is recommended that investors carefully assess the risks and reasonably control their positions when using leverage. [15]
USDT Market Cap breaks through 1,300 billion US dollars, hitting a new all-time high According to CoinGecko data, the market capitalization of Stable Coin USDT has exceeded 130 billion US dollars, reaching a new historical high. Since Donald Trump won the US presidential election on November 6, USDT has issued approximately 9 billion coins. Earlier news stated that Trump plans to nominate Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. Cantor Fitzgerald has been the custodian bank of Tether since 2021, managing more than half of Tether's reserves.
According to CoinGecko data, the total market capitalization of stablecoins has exceeded $190 billion, and the continuous rise in stablecoin market capitalization indicates that investors are optimistic about the future development of the market and actively preparing for potential investment opportunities. [16]
emojicoin.fun has been online for 10 hours, and has issued over 1,400 kinds of Meme Tokens Aptos Meme coin trading platform emojicoin.fun went online 10 hours ago, instantly igniting community enthusiasm. Currently, it has issued over 1,400 kinds of Meme coins. Data shows that DOG FACE ranks first with a market capitalization of $13 million and a trading volume of $8.56 million, followed closely by INFINITY and FROG.
It is reported that the platform is powered by Aptos and Move programming languages, incubated by Econia Labs, and operated by infranomicon. Its low-threshold creation mechanism and rich community atmosphere have attracted a large number of users to participate, jointly creating a vibrant Meme coin ecosystem. [17]
Market Opportunity
Project Airdrop
This week's Airdrop project that can be followed is: SynFutures
SynFutures is a Decentralization derivatives exchange, pioneering a permissionless contract market model, allowing anyone to add Liquidity with a single coin in 30 seconds, supporting both futures and Perptual Futures. Since the end of 2021, two versions have been iterated, with a cumulative volume of $2.3 billion, 110,000 users, and support for over 240 trading pairs. On November 20, SynFutures announced that its Oyster Odyssey point event will officially end on November 25, 2024 (next Monday), hinting at the imminent TGE and Airdrop. The event was synchronized with the launch of SynFutures on the Blast Mainnet on March 1, 2024, and expanded to Base in July, attracting over 6.5 million WalletAddresses, helping SynFutures become the top-ranked Decentralization perpetual contract trading platform on the Blast and Base networks in terms of volume and TVL.
The founding team of SynFutures has backgrounds in top international investment banks, internet companies, and encryption OG. They have received investments from investors such as Pantera, Polychain, Standard Crypto, Dragonfly, Framework, SIG, Hashkey, IOSG, Bybit, Wintermute, CMS, Woo, etc., and have raised over 38 million US dollars to date.
Ways to earn points: [18]
Reminder: The Airdrop plan and participation method may be updated at any time. It is recommended that users follow SynFutures' official channels to get the latest information. At the same time, users should participate cautiously, pay attention to risks, and conduct thorough research before participating. gate does not guarantee the subsequent Airdrop rewards distribution.
Financing Weekly Report
Several projects successfully completed financing this week, involving a wide range of applications in areas such as infrastructure and gaming. According to RootData statistics, between November 15th and November 21st, a total of 14 projects announced financing, with a total of more than $103 million raised. Here are the top three in terms of financing scale.
Monkey Tilt completed a $30 million financing on November 20th, led by Pantera Capital, with follow-on investments from Polychain, HackVC, and other companies. Monkey Tilt is an online gambling platform that focuses on the integration of Crypto Assets and online gambling. Players can win profits by correctly predicting whether their chosen players will exceed or fall below their statistical predictions.
CANaan completed a $30 million financing on November 20th, with this round of investors including Fundamental Labs, TransLink Capital, Jin Jiang Group, and Bao Pu Investment. Canaan is a Chinese computer hardware manufacturer. Established in 2013, Canaan focuses on blockchain servers and ASIC microprocessor solutions for BTC Mining. The company went public on NASDAQ in 2019 with a market capitalization of $505 million.
Noble completed a $15 million Series A funding round on November 19th, led by Paradigm. Noble has raised a total of $18.3 million and has partnered with stablecoin issuance players such as Circle, Ondo Finance, Hashnote Labs, and Monerium. The platform currently manages assets exceeding $458 million. Noble is an AppChain designed specifically for native asset issuance within the Cosmos and IBC ecosystems, enabling issuance to manage their Tokens with features such as burn, mint, blacklist, and more. Noble acts as an intermediary, collaborating with stablecoin issuance parties to efficiently distribute their products to 50 different Blockon-chain, providing developers with a seamless user interface to ensure compatibility with Noble.
Next week follow
Token unlocking
According to the data from Token Unlocks, there will be two important Token unlocking events in the market next week (2024.11.22-11.28). The total value of the unlocking will exceed $29 million. [19]
Before the unlock next week, the three situations are as follows:
ID Token is scheduled to unlock approximately 18.49 million tokens at 8:00 a.m. UTC+0 on the 22nd, accounting for 4.29% of its circulating supply, with a value of approximately $8.3 million. This unlocking will have a certain impact on the subsequent PA of ID Token.
ADA Token plans to unlock approximately 12.53 million tokens at 12:00 PM UTC+0 on the 26th, accounting for 0.05% of its circulating supply, worth approximately $14.39 million. This unlocking will have a relatively small impact on the subsequent PA of ADA Token.
**ENA **Token plans to unlock about 12.86 million tokens at 7 a.m. UTC+0 on the 27th, accounting for 0.45% of its circulating supply, worth approximately $6.69 million. This unlocking will have a relatively small impact on the future price movement of ENA Token.
encryption Calendar
In the coming week, the blockchain and cryptocurrency field will witness a series of major events. On November 22nd, the United States will release the final value of the one-year inflation rate expectation for November, which is crucial for the Federal Reserve's interest rate decisions and will subsequently affect global assets, including the cryptocurrency market. On November 26th, the Layer 2 network Starknet on the Ethereum mainnet plans to launch STRK stake, where participants can choose to become validators (requiring at least 20,000 STRK stakes and running full nodes) or delegators (selecting validators and holding STRK tokens). In addition, on November 27th, Google Cloud and Cobo will hold the 'Digital Asset Management Solutions Day' event in Hong Kong, where multiple industry experts will be in attendance to discuss the future development of digital assets. [20]
Reference materials
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Disclaimer Investing in the cryptocurrency market involves high risks. It is recommended that users conduct independent research and fully understand the nature of the assets and products before making any investment decisions. gate is not responsible for any losses or damages caused by such investment decisions.