📰 Blockchain Morning Report - November 12, 2024 📷 Exclusive insights into the latest developments in the crypto space, not to be missed!
1. Market Dynamics 🧐
🎯Bitcoin (BTC): Bitcoin's price surged over $10,000 in a single day, approaching $90,000. BlackRock's spot Bitcoin ETF recorded a daily trading volume of $4.5 billion, setting a new record, with continued interest from institutional investors. Bitcoin's market cap surpassed silver, making it the eighth largest asset globally, solidifying its position in the global asset market.
💫Ethereum (ETH): Ethereum shows relatively weak performance, with the ETH/BTC exchange rate continuing to decline, reflecting a shift in market preference between Bitcoin and Ethereum.
🌈Solana (SOL): Solana is developing steadily, with new Solana meme coins launched on Binance bringing in new capital, supporting its ecosystem's activity.
🎗Binance Coin (BNB): BNB price keeps pace with the average market increase, showcasing confidence in the Binance ecosystem.
💎Dogecoin (DOGE): DOGE rose another 20%, with a market cap exceeding $48 billion, indicating the continued popularity of meme coins in the market.
2. Industry Highlights 🎯
💡MicroStrategy: After the rise in Bitcoin prices, its stock price reached a new high of $350, reflecting the success of Bitcoin as a strategic asset for the company.
💫Coinbase: Under optimistic sentiments post-election, Coinbase's stock price has reached its highest level since November 2021.
💎Tether: Announced the launch of the Wallet Development Kit, simplifying the integration of USDT and Bitcoin, enhancing accessibility for stablecoins and crypto assets.
💡Binance: Launched $ACT and $PNUT, demonstrating support for emerging tokens and promoting market capital inflow.
3. Industry Trends 🎯
💥Expectation Changes: The expectation for Bitcoin to break $100,000 by the end of the year has strengthened, with rising odds on Polymarket reflecting this trend. 💫 Expectations are enhanced.
💡Macroeconomic Impact: Analysts believe Trump's victory reduces the expectation of a Federal Reserve rate cut before 2025, which may influence the macro environment for cryptocurrencies.
💎New Market Cap High: The total market cap of cryptocurrencies has reached a historic high, reflecting overall market optimism.
💡Investment Recognition: Bernstein encourages investors to increase their investments in Bitcoin and cryptocurrencies, with growing recognition in the mainstream investment community.
💫MicroStrategy Profits: MicroStrategy's Bitcoin holdings have an unrealized profit of nearly $12.9 billion, highlighting Bitcoin's long-term investment potential.
💎Market Confidence: The three major U.S. stock indices and cryptocurrency concept stocks have risen, reflecting confidence in the economic and policy environment.
