Headline
▌The U.S. SEC has again postponed its decision on spot Ethereum ETF options
According to a document dated October 11, the U.S. SEC has again postponed its decision on spot Ethereum ETF options.
The document states that the U.S. SEC has postponed its decision on a proposed rule change that would allow the Cboe exchange to list options related to several popular spot Ethereum ETFs, and the deadline for the agency's ruling has been postponed from October 19 to December 3.
Bloomberg Industry Research analyst James Seyffart said that BTC ETF options are likely to be launched in the United States in the first quarter of 2025.
▌Scroll airdrop allocation met with dissatisfaction among users
Golden Finance reported that Scroll announced that 15% of the total tokens would be used for future airdrops, of which 7% would be distributed on October 22. However, users were disappointed with the decision to allocate 5.5% to Binance Launchpool, believing that the allocation was unfair. Although Scroll stated that Binance could help it achieve global distribution, many users questioned this strategy, believing that it would be more beneficial to large investors. The total supply of SCR is 1 billion tokens, and users hope for a fairer distribution mechanism to reflect their contributions and efforts.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $62,615.53, with a daily increase or decrease of +3.9%;
ETH's latest transaction price is $2,437.51, with a daily increase or decrease of +2.2%;
BNB's latest transaction price is $573.97, with a daily increase or decrease of +1.8%；
SOL's latest transaction price is 145.95 US dollars, and its intraday increase or decrease is +4.7%；
DOGE's latest transaction price is 0.1108 yuan, and its intraday increase or decrease is +4.4%；
XPR's latest transaction price is 0.5386 US dollars, and its intraday increase or decrease is +1.5%.
Policy
▌Biden: Authorized to provide Trump with everything he needs
Golden Finance reported that when asked about Trump's security requirements, US President Biden said that he had authorized to provide Trump with everything he needs.
Earlier reports, according to the Washington Post, in the face of Iran's threats, Trump put forward security requirements for the use of military aircraft and vehicles.
Blockchain Application
▌Shenyu: Calling on dApp and plug-in wallets to add Permit signature switches
On October 11, Cobo co-founder and CEO Shenyu posted on social media that he called on dApp and plug-in wallets to add Permit signature switches.
Cryptocurrency
▌Trump family project WLFI: Public sales will be open to whitelisted users on October 15
The Trump family project World Liberty Financial (WLFI) posted on the X platform that "the public sale will begin on October 15 and will be open to all those who meet the requirements through the whitelist."
▌Analysis: The macro factors affecting the performance of cryptocurrencies are shifting from monetary policy to the US election
According to Golden Finance, Coinbase analysts David Duong and David Han said, "Despite the sluggish price trend of Bitcoin this week, market sentiment has remained largely unchanged, as evidenced by the stable perpetual contract funding rate and the number of open contracts over the past week."
Coinbase analysts pointed out that the macro factors affecting the performance of cryptocurrencies are shifting from monetary policy to the results of the US election. Despite the recent increase in CPI and core PPI, market expectations for interest rate cuts remain roughly stable.
▌FOX reporter: Ripple founder donated $1 million in XRP to Harris PAC
Golden Finance reported that FOX reporter Eleanor Terrett posted on social media, "Ripple founder Chris Larsen has made the first recorded cryptocurrency donation to Kamala Harris. According to new U.S. Federal Election Commission (FEC) filings, Larsen donated $1 million in XRP to Future Forward USA, one of the main super PACs supporting Harris."
GSR analyst: Bitcoin price fluctuations are mainly driven by emotions, not fundamentals
Golden Finance reported that GSR analysts said that Bitcoin's unpredictable price fluctuations are mainly driven by emotions, not fundamentals. Market observers are now focusing on four key factors that could affect the price of Bitcoin: the U.S. election, the monetary policies of central banks around the world, the U.S. economy and the sales of Bitcoins seized by the U.S. government in the Silk Road case.
Important Economic Dynamics
▌The three major U.S. stock indexes closed higher
Golden Finance reported that the three major U.S. stock indexes closed higher, with the Dow up 0.97%, the Nasdaq up 0.33%, and the S&P 500 up 0.61%. Large technology stocks rose and fell, and Tesla fell more than 8%.
▌U.S. one-year credit default swaps rose to 48 basis points, the highest level since November 2023
Golden Finance reported that S&P Global Market Intelligence data showed that U.S. one-year credit default swaps rose to 48 basis points, the highest level since November 2023.
▌Federal Reserve Logan: The U.S. economy remains strong and stable
Golden Finance reported that Federal Reserve Logan said that recent inflation data is "very welcome"; reducing policy restrictiveness can also cool inflation; the U.S. economy remains strong and stable; gradually adjusting policies towards a neutral interest rate is of great significance; the banking industry must continue to diversify its financing channels; the Federal Reserve's discount window is one of the important sources of bank financing.
▌The three major U.S. stock indexes all turned positive, and the Dow Jones Industrial Average rose by 0.57%.
Golden Finance reported that the market showed that the three major U.S. stock indexes all turned positive, and the Dow Jones Industrial Average rose by 0.57%. Bank stocks rose across the board, with Wells Fargo (WFC.N) up 5.7%, Bank of America (BAC.N) and JPMorgan Chase (JPM.N) up more than 5%, Citigroup (C.N) up more than 3%, and Bank of New York Mellon (BK.N) up more than 2%.
▌Federal Reserve Minutes: There are risks in cutting interest rates too late or too early
Some participants emphasized that reducing the restrictiveness of policies too late or too little could risk excessively weakening economic activity and employment. Some participants emphasized the costs and challenges of addressing this weakening once it fully begins. However, several participants said that reducing the restrictiveness of policy too early or too much could cause progress in fighting inflation to stall or reverse. Some participants pointed out that the uncertainty about the long-term neutral interest rate level complicates the assessment of the degree of policy restrictiveness, and they believe that a gradual reduction in policy restrictions is appropriate.
▌The probability of the Fed cutting interest rates by 25BP in November is 95.6%, and the probability of not cutting interest rates is 4.4%
Golden Finance reported that according to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points by November is 95.6%, and the probability of maintaining the current interest rate unchanged is 4.4%. The probability of a cumulative interest rate cut of 50 basis points by December is 84.1%, and the probability of a cumulative interest rate cut of 75 basis points is 0%; the probability of a cumulative interest rate cut of 100 basis points is 0%.
Golden Encyclopedia
▌What are Rollups
Rollup is a way of processing transactions on the Layer 2 protocol that frees up valuable space on the base layer. Rollup folds transactions one by one on the second layer, sometimes dozens of times, and then rolls them together before sending the data back to Layer 1. There are two main types of Rollup, optimistic and zero-knowledge (ZK) proofs.
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 increase risk awareness.
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