Announcements Gate Research: Bitcoin Consolidates at High Price Level, DeSci Concept Gains Momentum, DEX Hack Causes Nearly $20M in Losses

Gate Research: Bitcoin Consolidates at High Price Level, DeSci Concept Gains Momentum, DEX Hack Causes Nearly $20M in Losses

2024-11-18 12:36:48 UTC 11668 Read

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**Gate Research Daily Report (November 18): **Over the past 24 hours, Bitcoin's price has decreased by 0.79%, currently trading at $90,477, showing signs of consolidation at high levels. The net outflow from U.S. Bitcoin spot ETFs is approximately $370 million, while Ethereum spot ETFs have seen a net outflow of $59.87 million. Bitcoin miners' reserves have continued to decline, dropping to around 1.8 million BTC, the lowest in three years. Meanwhile, the Total Value Locked (TVL) in the Sui ecosystem has surpassed $1.6 billion, setting a new all-time high. The DEXX platform experienced a security breach due to improper management of its official private key, resulting in a private key leak and total losses close to $20 million. Between November 15 and November 18, two projects announced successful funding rounds, raising over $2 million in total.

**Market Analysis**: BTC fell 0.79% in the past 24 hours, currently trading at $90,477, remaining in a high-level consolidation phase.
**Top Performers**: The top-performing altcoins over the past 24 hours are CSPR, POND, and BONK, with single-day gains of approximately 124.9%, 46.7%, and 30.9%, respectively.
**Data Highlights**: Bitcoin miners’ reserves have continued to decline, now down to approximately 1.8 million BTC, marking a three-year low.
**Spotlight Analysis**: The lending protocol Polterfinance on Fantom (FTM) was exploited for $12 million due to an "empty market" vulnerability.
**Market Opportunities**: Sonicx, a gaming application based on Solana, leverages the HyperGrid scaling framework and a native game engine to onboard more users into the blockchain ecosystem. It has already attracted over 1 million users via TikTok.

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Gate Research: Bitcoin Consolidates at High Price Level, DeSci Concept Gains Momentum, DEX Hack Causes Nearly $20M in Losses

Gate Research: Bitcoin Consolidates at High Price Level, DeSci Concept Gains Momentum, DEX Hack Causes Nearly $20M in Losses

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