The global cryptocurrency market capitalization is $2.77T, Up +5.21% from the previous session.The total cryptocurrency market trading volume in the past 24 hours is $224.64B, Up +112.81% from the previous session.Bitcoin dominance currently stands at 57.78%, Up +0.12% 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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- On November 11th, according to the on-chain data analyst Yu Jin's monitoring, a certain WhaleAddress withdrew 10,660 ETH (approximately $33.74 million) from the CEX in the past 25 hours, with an average withdrawal price of 3,165.
- According to the report by Geoff Kendrick, an analyst at Standard Chartered Bank, the BTC price will continue to pump until the end of the year, and it is expected to easily reach $100,000 before the BTCOptions expire on December 27th. If the BTC price cannot reach $125,000 by the end of the year, it is expected to do so at the time of Trump's inauguration. The recent pump of Ethereum and Solana may bring about a general increase in prices, and it is expected that SOL will hit a new all-time high before the end of this year, while the new all-time high for ETH may have to wait until Trump's inauguration. Overall, the report believes that all Tokens will pump.
- a16z Crypto executives stated in a new article that the relaxation of government regulation and governance of the encryption industry has given encryption project founders more exploration rights, including the use of Token to allocate project control and establish communities. There is now a constructive way to engage with regulatory and legislative bodies, which can bring regulatory clarity.
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