The global cryptocurrency market capitalization is $2.24T, Down -2.25% from the previous session.The total cryptocurrency market trading volume in the past 24 hours is $79.27B, Up +10.43% from the previous session.Bitcoin dominance currently stands at 60.63%, Up +1.29% from the previous session.
- Bankruptcy concept tokens USTC and LUNC rose and spiked, but have now recovered all their gains and started to fall. According to the news, TerraForm Labs plans to destroy one-third of the holdings of each of the two tokens before November. This destruction plan was made after Terraform Labs reached a $4.47 billion settlement agreement with the SEC, but the destruction of the two tokens is currently unknown;
- The meme coin SWAG on the Ethereum chain rose by more than 100% in a single day. SWAG is a cult meme with good social media dissemination. Previously, SWAG announced that through the wormhole cross-chain, users can use SOL to purchase SWAG tokens on the Solana chain, which increased the demand for SOL funds;
Market trend
- BTC retreated after approaching its previous historical high and currently fell below $69,000. It was significantly affected by the sharp drop in U.S. stocks. In addition, with the approaching U.S. presidential election, the volatility of the crypto market has increased significantly, but BTC ETF has maintained a large net inflow, and the outlook is still relatively optimistic;
- ETH In the past two days, the gains of the past week have been wiped out, falling below $2,500. Yesterday, BlackRock ETHA received a large inflow of $40 million, but it was difficult to hide the decline of ETH;
- Altcoins generally fell, and the alt season still needs to wait for BTC to break through the previous historical high, and the market sentiment will be hot before it appears;
Macro News
The three major U.S. stock indexes opened lower and fell across the board, with the S&P and Nasdaq both recording the largest single-day decline since September 4. The Fed's most favored inflation indicator unexpectedly accelerated, suppressing the Fed's expectations of a rate cut. In addition, the performance guidance in the previous financial reports of technology giants was relatively conservative, which increased the uncertainty of the U.S. stock earnings season and dragged down market sentiment.
In addition, as the U.S. election approaches, some market funds have begun to hedge. Wall Street analysts believe that the market should prepare for the uncertainty of the U.S. election in November, and investors need to guard against potential volatility risks.
Fear and Greed Index
- On November 5th, X tweeted that the following is the early voting increment of swing states, where the Republican Party is currently leading the Democratic Party, until tomorrow (during the day of November 5th). The voting rate for the Republican Party on election day is usually much higher than that of the Democratic Party, so any state that currently leans towards the Republican Party in early voting is likely to stand with Trump. Although Pennsylvania still leans towards the Democratic Party, the voter turnout on election day is high. If the number of people who personally vote for Trump is the same as last time, he will win by about 50
- Multiple Whales are dumping AAVE, including two Addresses that have withdrawn thousands of tokens from AAVE, deposited them into CEX, and Cumberland and GalaxyDigital have collectively deposited over 2 million dollars of AAVE into CEX.
- Rooch Network co-founder HaiChao encountered a robbery incident in Bangkok, Thailand during the annual Ethereum event Devcon. His phone was stolen by two men with knives on the roadside. Participants should pay attention to personal and property safety and be cautious when traveling at night.
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