1) Market trend:
The market surged and stood firm against the weekly resistance. The BTC contract rate was once negative, the long-short ratio was 0.6, and there were too many short sellers. The short squeeze rebound will continue in the short term.
U.S. stocks plummeted, falling for three consecutive weeks.
2) Market hot spots:
1. Public chains sol and apt surged. Sol has good fundamentals and will hold a general meeting on October 30. Apt is the second largest blockchain after sol and is hyped by Korean funds.
2. Starl and Raca of the game have risen sharply. Starl has risen 20 times in one month, and it is said that the dealer has changed. The short-term amplitude is too large, and the rate has turned negative. Pay attention to the risks.
3. DeFi's Link and Aave surged. Link launched a new staking pool.
4. Floki, the meme, has surged. Floki is the dogecoin issued by Musk's brother, and it will be pledged for new coins on October 27.
MultiversX（EGLD）
The native token of the MultiversX blockchain, EGLD, has seen a notable rise in value of nearly 10% after the network announced a partnership with the Google Cloud division, a subsidiary of tech giant Google.
EGLD surged from just below $24 to just above $26 in the European market between Friday and early Saturday morning. However, the price has since fallen back to $25.30 as of the time of this report. This is a 6.03% increase over the past 24 hours.
MultiversX announced the strategic partnership at the xDay conference in Bucharest, Romania. The collaboration with Google Cloud will leverage the tech giant’s expertise in artificial intelligence (AI) and data analytics tools.
The collaboration aims to simplify the development of large-scale blockchain projects on MultiversX by providing developers with easy access to key data such as addresses, transaction amounts, smart contract interactions, and other valuable insights.
This collaboration provides more utility to the EGLD token and it will enter a new phase entirely. Launching another competitive strategy, this token is the next explosive cryptocurrency.
Bitcoin SV (BSV)
Bitcoin SV experienced a staggering surge of more than 30% after it was listed as a perpetual futures on the Binance cryptocurrency exchange with 50x leverage. The development immediately caught the attention of traders.
As of this writing, BSV has surged 28.09% in the past 24 hours, reaching a price of $54.99. This surge has propelled Bitcoin SV to a prominent position among the best performing assets in the cryptocurrency market. In fact, it currently has the largest daily gain among the top 100 cryptocurrencies by market cap. In fact, it is the next explosive cryptocurrency.
Earlier this week, Bitcoin SV began a bullish journey, which began on October 15. The momentum persisted and experienced a massive surge to a high of $41.50 on October 16. Although profit-taking briefly interrupted this rise, the bullish sentiment remains.
Bitcoin SV (BSV) has once again initiated a rally and appears to be on its way to a third consecutive day of gains on Oct. 18. The most recent jump, which occurred today, marked the biggest upswing as BSV showed a significant green candlestick, reaching a high of $57.71 during the trading session.
Last week, BSV rose as much as 65.56%. On-chain analysis company Santiment said that as Bitcoin's dominance increased, BSV has become one of the most eye-catching assets in the past 24 hours.
Binance Futures announced that BSV perpetual contracts will be listed on October 20, offering up to 50x leverage. This listing remains an important catalyst for Bitcoin SV’s continued rise.
Polygon (MATIC)
Polygon is a layer 2 scaling solution that was founded in 2017 to solve some of the key scalability and usability issues facing the Ethereum network. It does this by providing a framework for building and connecting Ethereum-compatible blockchains, enabling developers to create a more efficient and user-friendly ecosystem. Polygon also provides a variety of tools to enhance the performance of decentralized applications (DApps). Although the price of Polygon (MATIC) has recently fallen, many experts remain confident in its upside potential, providing investors with a low entry opportunity.
On
Optimism is the second largest Ethereum Layer-2 scaling solution, with famous projects such as Synthetix and Uniswap built on its network. It uses Optimistic Rollups technology to process most transactions off-chain and then settle them regularly on the Ethereum mainnet. This enables developers and users to benefit from faster and cheaper transactions while still benefiting from the security and decentralization of Ethereum.
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