BTC may break $100,000 sooner than expected, Solana may rise 400%

Headline

▌Bitwise CIO: Bitcoin may break through $100,000 earlier than expected

Bitcoin may reach six figures earlier than expected, driven by a large influx of institutional funds into Bitcoin exchange-traded funds (ETFs), an unstable U.S. economy, and the U.S. presidential election, said Matt Hougan, chief investment officer of asset management company Bitwise. Matt Hougan highlighted factors such as the growing Republican support for cryptocurrencies and inflation concerns that are driving investors to Bitcoin. With regulatory clarity and supply restrictions brought about by Bitcoin halving, he predicts that Bitcoin prices will soar quickly. (Bitcoin.com)

▌Standard Chartered Bank: Solana may rise 400% if Trump wins the presidential election

According to Watcher.Guru, Standard Chartered Bank said that Solana may rise 400% if Trump wins the presidential election.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $68,962.59, with a daily increase or decrease of +1.0%;

ETH's latest transaction price is $2,743.30, with a daily increase or decrease of +3.6%;

BNB's latest transaction price is $605.76, with a daily increase or decrease of +1.4%；

SOL's latest transaction price is 167.78 US dollars, with a daily increase or decrease of +5.1%；

DOGE's latest transaction price is 0.1417 yuan, with a daily increase or decrease of -2.1%；

XPR's latest transaction price is 0.5474 US dollars, with a daily increase or decrease of +0.7%.

Policy

▌Currently, El Salvador holds 5,908.7 bitcoins

According to mempool data, El Salvador currently holds 5,908.7 BTC, equivalent to about $404 million.

Blockchain Application

▌Daram's fair issuance method is widely imitated, and similar methods have appeared in the Ethereum mainnet and other chains to issue new meme coins

On October 21, on-chain data showed that the current market value of the Meme coin Daram on the Ethereum mainnet was $16 million, with a 24-hour turnover rate of 65% and a transaction volume of $12.11 million. Since its launch, the transaction volume on the 9th exceeded $60 million, and it has been ranked first on the Meme trend list for several consecutive days.

▌Vitalik Buterin calls staking centralization one of Ethereum’s “biggest risks” in “scourge” overview

In a recent blog post, Ethereum co-founder Vitalik Buterin outlined possible approaches the Ethereum community could take to minimize proof-of-stake centralization as part of the blockchain’s planned “disaster” upgrade. Buterin called the issue “one of the biggest risks” to the Ethereum network and outlined several possible ways to block construction and staking capital supply to minimize the risk. (The Block)

Cryptocurrency

▌If Bitcoin breaks through $69,000, the cumulative short order liquidation intensity of mainstream CEX will reach 247 million

According to Coinglass data, if Bitcoin breaks through $69,000, the cumulative short order liquidation intensity of mainstream CEX will reach 247 million.  

Note: The liquidation chart does not show the exact number of contracts to be liquidated, or the exact value of the contracts liquidated. The bars on the liquidation chart actually show the importance, or strength, of each liquidation cluster relative to neighboring liquidation clusters.

▌Stripe acquires stablecoin platform Bridge for $1.1 billion

Payments company Stripe has acquired stablecoin platform Bridge for $1.1 billion, according to Michael Arrington, founder of TechCrunch.  

Bridge is Stripe's largest acquisition to date and the largest in the history of the crypto industry, raising $58 million from investors at a previous valuation of $200 million.  

Bridge provides software that helps businesses accept stablecoin payments, which also marks an expansion of Stripe's cryptocurrency adoption efforts.

▌Data: The total locked value of DeFi protocols reached 89.56 billion US dollars

According to Defi Llama data, the total locked value (TVL) of DeFi protocols reached 89.56 billion US dollars. The top five TVLs are Lido (US$26.26 billion), AAVE (US$13.52 billion), EigenLayer (US$11.65 billion), ether.fi (US$6.591 billion), and MakerDAO (US$6.14 billion).

▌The current market value of Bitcoin accounts for 54.8%

According to Coingecko data, the current market value of cryptocurrencies is 2.47 trillion US dollars, with a 24-hour trading volume of US$64.526 billion. The current market value of Bitcoin accounts for 54.8%, and the market value of Ethereum accounts for 13.1%.

▌Currently, the total Bitcoin network hashrate is 693.46EH/s

According to BTC.com data, the current total Bitcoin network hashrate is 693.46EH/s, and the 24-hour transaction rate is 8.2 transactions/s. The current network difficulty is 92.05T, and the next difficulty increase is predicted to be 2.53% to 94.38T, with 2 days left before the adjustment.

Important Economic Dynamics

▌The probability of the Fed cutting interest rates by 25BP in November is 99.3%

According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points by November is 99.3%, the probability of cutting interest rates by 50 basis points is 0.7%, and the probability of maintaining the current interest rate unchanged is 0%.  

The probability of a cumulative interest rate cut of 25 basis points by December is 24%, the probability of a cumulative interest rate cut of 50 basis points is 75.5%, and the probability of a cumulative interest rate cut of 75 basis points is 0.5%.

Golden Encyclopedia

▌What is Proto-Danks Sharding

Sharding is a method of splitting a ledger into smaller parts, called shards. But proto-danksharding is one of the most opaque terms in the crypto world's vocabulary. The term doesn't particularly have a guiding meaning. Is proto short for prototype? Is this the same dank in your favorite meme folder? Both assumptions may be quite reasonable, but both are wrong. First proposed by protolambda and Dankrad Feist, who named the idea after themselves, proto-danksharding is a transaction type that accepts the above blobs. The solution using blobs is designed to overcome Ethereum's long-standing problems of high gas fees and low transaction throughput.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.