The global cryptocurrency market capitalization is $2.61T, Up +3.44% from the previous session.The total cryptocurrency market trading volume in the past 24 hours is $103.39B, Down -21.42% from the previous session.Bitcoin dominance currently stands at 58.05%, Down -2.26% from the previous session.
- SOL surged, returning to above $200 after half a year, driving Solana ecosystem projects such as RAY, GRASS, and JTO to surge. Among them, GRASS has increased by more than 400% since its launch at the end of October; Grass is a Depin protocol on the Solana chain, and its token GRASS has a circulation market value of $700 million, and FDV has reached $2.9 billion;
- Meme coins generally rose, and popular meme projects such as MOODENG, MANEKI, and LUCE rose by more than 30%. MOODENG is a meme with the image of a Thai internet celebrity hippopotamus, with a current circulation market value of 280 million US dollars; MANEKI is a Japanese lucky cat meme issued in April this year, with a current circulation market value of 80 million US dollars. MANEKI announced in October that it would become the main partner and official jersey sponsor of Sheffield United in the 2024-2025 season; LUCE is the mascot of the Catholic Holy Year, with a current circulation market value of 75 million US dollars;
Market trend
- BTC still maintains a high consolidation near US$76,000. With the crypto-friendly Trump taking office and the Federal Reserve's announcement of a 25 basis point interest rate cut, BTC has a promising future;
- ETH broke through US$2,900. After Trump took office, ETH ETF may allow staking, which is a potential huge positive for ETH, but it is currently only speculation by the community, and it is necessary to continue to observe the relevant policies issued by Trump for the crypto industry after he took office;
- Altcoins generally rose, BTCD fell sharply by more than 2% in a single day, meme The currency sector MOODENG, GOAT and other stocks performed well;
Macro News
The three major U.S. stock indexes rose and fell, and the yield on the 2-year U.S. Treasury bond, which is most sensitive to the Fed's policy interest rate, was 4.21%. Fed Chairman Powell announced a 25 basis point interest rate cut at the interest rate meeting that ended this morning. The market expects the Fed to cut interest rates by another 25 basis points in December.
Fear and Greed Index
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- digital asset exchange FTX sued Anthony Scaramucci and his Hedging fund SkyBridge Capital in an attempt to recover the bankruptcy company's debt funds. This is one of 23 lawsuits filed with the Delaware Bankruptcy Court, with plaintiffs including political groups such as CEX and FWD.US. Assets managed by SkyBridge have fallen from $9 billion in 2015 to $2.2 billion.
- [The White House: Biden will meet with Trump next Wednesday] The White House released a statement saying that, at the invitation of President Biden, President Biden and President-elect Trump will meet in the Oval Office at 11 a.m. local time next Wednesday.
- 【Federal Reserve's Kashkari: Strong economy could mean fewer rate cuts】Minneapolis Fed President Neel Kashkari said in an interview with the media on Saturday that this (rate cut) really doesn't depend on short-term plans between Congress and the new government - it's actually about productivity and the rise of the economy. If this rise can continue, and our economy becomes more efficient structurally, then that tells me that we may not cut rates as much.
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Notice: Gate.io’s Compensation Plan for bitSmiley (SMILE) Initial SaleNotice: Gate.io’s Compensation Plan for bitSmiley (SMILE) Initial Sale
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