Featured News:
1. Both Nostr Assets Protocol and Lightning Network Protocol have seen significant increases today;
2. Pyth Network: PYTH airdrop will allocate approximately 55 million additional tokens to DeFi users;
3. Binance Labs Operations Manager: Currently more focused on supporting startups that already have actual products and revenue;
4. Data: As the ETF application window is about to end, Bitcoin ETP fund inflows hit a record high;
5. US SEC postpones decision on filing of Hashdex Bitcoin spot ETF and Grayscale Ethereum futures ETF
Price Watch
Mad Labs' floor price breaks through 100 SOL, with a 24-hour increase of 28%
On November 16, according to Magic Eden market data, the floor price of Solana ecosystem NFT Mad Labs rose to 102.4 SOL (about US$6,656), a 24-hour increase of 28%.
ORDI broke through $24.9 this morning, up 8.55% in 24 hours
On November 16, according to OKX market data, ORDI broke through US$24.9 this morning and is currently quoted at US$24.35, a 24-hour increase of 8.55%.
JOE rises above $0.44, up 23.9% in 24 hours
On November 15, according to OKX market data, JOE rose above $0.44 and is currently quoted at $0.4405, a 24-hour increase of 23.9%.
Lightning Network Protocol Nostr Assets Protocol Both currencies have seen significant increases today
On November 15, according to NostrAssets data, the Bitcoin Lightning Network Nostr Assets Protocol dual currencies TRICK and TREAT both saw significant increases today. Currently, TRICK is temporarily reported at 355 sats, equivalent to US$0.1287; TREAT is temporarily reported at 425 sats, equivalent to US$0.1541.
ARKM briefly broke through $0.61, and the 24-hour increase expanded to 27%
On November 15, according to market data, affected by Binance Labs’ investment announcement, ARKM briefly broke through $0.61 and is now quoted at $0.579, with the 24-hour increase expanding to 27%.
Binance IEO tokens saw a general rise, ARKM rose by more than 20% in 24 hours
On November 15, according to market data, Binance LaunchPad project tokens experienced a general rise, including:
ARKM has increased by 23.56% in 24 hours and is currently priced at $0.55;
EDU has increased by 19.8% in 24 hours and is currently priced at $0.62;
ID has increased by 14.63% in 24 hours and is currently priced at $0.29;
HOOK has risen 9.26% in 24 hours and is currently priced at $1.04.
SOL rises back above $60, up 16% in 24 hours
On November 15, according to OKX market data, SOL rose back above $60 and is currently priced at $60.71, a 24-hour increase of 16%.
Transaction Tracking
Polygon's official address distributed 217 million MATIC to 70 addresses in the past 12 hours, about 199 million US dollars
On November 16, according to on-chain analyst Ember’s monitoring, the address marked as Polygon: Ecosystem Growth distributed a total of 217 million MATIC (about 199 million US dollars) to 70 addresses in the last 12 hours.
Yu Jin said that most of these addresses received the same amount of MATIC from the Polygon: Ecosystem Growth address a year ago.
The largest TRB holding address transferred 50,000 TRB to Binance
On November 15, according to Scopescan data monitoring, the largest TRB holding address transferred 50,000 TRB to Binance, equivalent to approximately US$4.47 million.
Amber Group deposited 293,500 DYDX into Binance 8 hours ago and still holds 2.844 million DYDX
On November 15, according to monitoring by The Data Nerd, the Amber Group address deposited 293,500 DYDX (US$1.14 million) into Binance at an average price of US$3.88 8 hours ago. The address currently holds 2.844 million DYDX (US$11.15 million), with a floating profit of US$2.13 million.
Project News
Nocturne v1 is now available on Ethereum mainnet
On November 16, the privacy protocol Nocturne officially announced that its v1 version has been launched on the Ethereum mainnet. For the first time, users will have a compatible and easy-to-use product similar to a private on-chain account. The private vault UI is a window for managing users' private assets. The user interface currently supports deposits to private accounts, transfers to new addresses, and private redemptions/staking.
Pyth Network: PYTH airdrop will allocate approximately 55 million additional PYTH tokens to DeFi users
On November 16, the oracle project Pyth Network officially announced that the airdrop coverage for DeFi participants has been expanded. Previously, it was announced that 200 million PYTH tokens would be distributed in the airdrop. About 55 million PYTH were added to the distribution of DeFi participants, bringing the final airdrop distribution to about 255 million PYTH.
Additionally, the eligibility criteria and snapshot dates have not changed, and ecosystem participants can recheck their eligibility.
PancakeSwap Launches PancakeSwap Gaming Marketplace
On November 15, PancakeSwap announced the launch of the PancakeSwap Gaming Marketplace on social media, which supports the production, construction and playing of games. It currently supports the flagship game Pancake Protectors and Binary X's Pancake Mayor.
Cetus Protocol: Sui Ecosystem is about to launch a new round of ecological project acceleration activities
On November 15, the Sui DeFi project Cetus officially posted on social media that the Sui ecosystem is currently in rapid development, and IDO activities for mature projects in the ecosystem may soon be coming. In order to promote the development of high-quality ecological projects in the SUI ecosystem, Cetus will carry out a series of strategic cooperation and marketing activities, and may bring strong empowerment to platform users. It is expected to be related to the addresses holding Cetus and xCetus.
The Cosmos Hub community initiated a vote on the "ATOM production reduction" proposal, proposing to halve the maximum inflation rate to 10%
On November 15, the Cosmos Hub community is voting on the proposal “ATOM Production Reduction: Set Maximum Inflation Rate to 10%”, which aims to reduce the maximum inflation parameter from 20% to 10% and reduce the annual staking interest rate from 19% to 13.4%. The voting deadline is November 26.
Lattice launches Redstone, a Layer 2 network based on OP Stack
On November 15, according to official news, Lattice announced the launch of the Layer 2 network Redstone. It is reported that Redstone is an Alt-DA chain inspired by Plasma, built on OP Stack, and aims to establish a foundation for developers to develop on-chain games and autonomous worlds. Redstone implements a data availability design inspired by Plasma, allowing any honest participant on the Internet to ensure that the chain is available without the need for a new form of consensus outside of Ethereum.
CeFi News
Market News: Binance and Gulf joint venture Gulf Binance receives approval from Thai regulators
On November 16, according to market news, Binance and Gulf's joint venture Gulf Binance received approval from Thai regulators. (Jinshi)
Binance Labs Operations Director: Currently more focused on supporting startups that already have actual products and revenue
On November 15, Dana Hou, who is responsible for business strategy and operations at Binance Labs, told Bloomberg that the department is currently more actively engaging with founders of crypto projects.
Dana Hou said that despite the unfavorable regulatory environment this year, Binance Labs will continue to invest in more cryptocurrency projects, including those based in the United States. Binance’s recent layoffs have not affected Binance Labs, and the team is still operating stably.
However, according to data analysis published on its official website, Binance Labs has reduced 10 team members since January, from 18 to 8. When asked about the resignation, Biannce Labs said it would continue to recruit and welcome new members to join the team.
Dana Hou said that Binannce Labs and other venture investors are now more focused on supporting startups that already have actual products and revenue. There was a time in the past when projects would be hyped simply because they received venture capital investment, but recently in the crypto industry, hype is no longer so worrying.
Binance Japan will list 13 tokens including NEAR and OP
On November 15, The Block reported that Binance Japan plans to list 13 more tokens, bringing the total number of supported crypto assets to 47. Binance said that this number currently makes it the trading platform with the largest number of supported assets in the country.
The 13 new tokens include: Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), Immutable X (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS (EOS), GALA (GALA), ApeCoin (APE), Klaytn (KLAY) and Lisk (LSK). The listing is expected to start on November 27, Binance Japan said on Wednesday.
Canadian crypto exchange WonderFi subsidiary Bitbuy announces acquisition of Bitvo
On November 16, according to The Block, Bitbuy, a subsidiary of Canadian cryptocurrency trading platform WonderFi, announced the acquisition of crypto trading platform Bitvo and all its customers, further expanding the company's actual share of the Canadian digital asset market.
With the acquisition of Bitvo, WonderFi owns nearly half of all regulated trading platforms in Canada, the company said in a statement.
Viewpoint Data
Arthur Hayes: Risk assets like Bitcoin will continue to soar as dollar liquidity rises
On November 16, BitMEX founder Arthur Hayes posted on social media that “Since the beginning of November, as the reverse repurchase (RRP) balance held by the New York Fed has declined and the balance of the U.S. Treasury General Account (TGA) has not changed, nearly $200 billion in liquidity has been injected (into the market). Risk assets such as Bitcoin and cryptocurrencies will continue to soar.”
CME "Fed Watch": The probability of the Fed keeping interest rates unchanged in December is 100%
On November 16, according to CME's "Fed Watch" data, the probability that the Federal Reserve will maintain interest rates unchanged in the range of 5.25%-5.50% in December is 100%, and the probability of raising interest rates by 25 basis points to the range of 5.50%-5.75% is 0%.
Data: Bitcoin ETP inflows hit record high as ETF application window draws to a close
On November 15, according to a report by K33 Research, institutional demand for Bitcoin through trading platform traded products (ETPs) has increased significantly in the past month, increasing by 27,095 BTC, reaching a record level and exceeding the flow in June and July after BlackRock submitted a Bitcoin spot ETF.
K33 Research senior analyst Vetle Lunde and vice president Anders Helseth said that in addition to Bitcoin ETP inflows, CME's continued high exposure indicates strong institutional demand for Bitcoin as the U.S. Securities and Exchange Commission's latest Bitcoin spot ETF deadline approaches.
Analysts say that the narrow window for approving all current Bitcoin spot ETF applications will end on Friday, November 17. This deadline specifically concerns the applications of Hashdex and Franklin. However, if the SEC wants to approve all applications at the same time, this window is an opportunity to execute that decision. Once the window passes, all current applications will no longer be approved at the same time, although the Global X ETF has one more deadline (November 21). In this case, the momentum of the cryptocurrency market may slow down, as it may take weeks to wait for major ETF-related news.
Financing Express
Kinetix Network Completes Multi-Million Dollar Strategic Financing, Led by Factor and Gnosis Chain
On November 16, according to CoinDesk, the decentralized cross-chain trading platform Kinetix Network announced the completion of a multi-million dollar strategic financing round led by Factor and Gnosis Chain.
It is reported that Kinetix plans to release its public testnet on Gnosis Chain early next year. The test network is scheduled to last for three months. The testing phase aims to identify errors and improve the user experience.
Compound founder's new company Superstate completes $14 million financing, led by CoinFund and Distributed Global
On November 15, Coindesk reported that blockchain-based asset management company Superstate completed a $14 million financing round led by CoinFund and Distributed Global, with participation from Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent and Road Capital Management.
Superstate is focused on developing regulated, compliant investment vehicles using public blockchains that are accessible to U.S. investors. The company, led by Robert Leshner, founder of DeFi lending platform Compound, has earmarked funds for team expansion, the creation of a private fund for institutional investors, and the development of a framework for tokenized public funds.
Fintech company CFX Labs completes $9.5 million seed round of financing, Shima Capital and others participate
On November 15, Coindesk reported that US fintech company CFX Labs announced the completion of a $9.5 million seed round of financing, with participation from Shima Capital, Decasonic, Antalpha, CMT Digital, Corazon Capital, Kraken Ventures, New Form Capital and Metropolitan Capital Bank & Trust. The funds from this round of financing will be used to expand its stablecoin payment and remittance network based on the Solana blockchain.
CFX Labs’ payment network enables people to send and receive fiat dollars overseas to countries such as India, Mexico and Nigeria, using the company’s proprietary stablecoin fxUSD and the Solana (SOL) blockchain as a transaction payment channel.
Circle strategically invests in Sei Network and supports the launch of native USDC on the network
On November 15, according to fortune, USDC issuer Circle strategically invested in Sei Network to support the launch of native USDC on the network.
Circle’s investment will allow Sei to integrate USDC with its growing suite of applications, such as the popular decentralized exchange Sushiswap.
“We look forward to working closely with the Sei team to integrate USDC for developers and users to enable high-speed and cost-effective transactions on the network,” said Wyatt Lonergan, principal at Circle Ventures.
Digital asset brokerage VersiFi announced that it has received $10 million in financing from Hunting Hill Global Capital, and a former Genesis executive joined as co-CEO
On November 15, Bloomberg reported that digital asset brokerage VersiFi announced that it had received $10 million in financing from Hunting Hill Global Capital. Martin Garcia, former managing director and co-head of trading and lending at Genesis Global, has joined VersiFi as co-CEO and will lead the expansion of the digital asset prime brokerage into these services.
Layer2 network Kinto announced the completion of two rounds of financing totaling US$5 million
On November 15, Coindesk reported that Ethereum Layer2 network Kinto completed US$3.5 million in financing. This round of financing was led by Kyber Capital Crypto, Spartan Group and Parafi, and participated by SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane and Robot Ventures.
Additionally, Kinto said the project received $1.5 million in pre-seed investment from Kyber Capital Crypto earlier this year.
According to the official introduction, Kinto is a Layer 2 network built on OP Stack, aiming to become the first KYC Layer 2 that can support modern financial institutions and decentralized protocols.
Binance Labs announces investment in Arkham Token ARKM
On November 15, according to official news, Binance Labs announced its investment in the encrypted data tracking platform Arkham token ARKM, but the specific amount has not been disclosed.
Regulatory News
Judge rejects FTX lawyers' motion to postpone bankruptcy proceedings to "find out why FTX went bankrupt"
On November 16, according to The Block, FTX attorney Lawrence Gebhardt asked the Delaware court to postpone the bankruptcy proceedings for "one or two months" to find out how FTX went bankrupt.
Judge John Dorsey denied the motion and said, "If discovery is as complex as people say it is, bankruptcy proceedings need to begin now, not later."
FTX receives court approval to repay over $2 million in legal fees to non-US creditors
On November 16, Reuters reported that FTX obtained court approval on Wednesday to repay more than $2 million in legal fees to non-U.S. creditors who helped negotiate settlements between competing groups of FTX customers.
CFTC Chairman: The collapse of FTX has not brought any changes to the crypto market. I hope Congress will support the CFTC in regulating the crypto market.
On November 16, Rostin Behnam, chairman of the U.S. CFTC, said in an interview with CNBC that the current cryptocurrency field has not changed since the FTX collapse, and may face another FTX-type incident. The CFTC lacks the power to fully regulate the digital commodity market. To prevent this from happening again, Congress must provide the CFTC with appropriate powers.
Tether: The court has dismissed the class action lawsuit against Tether and Bitfinex, and the plaintiff has given up the appeal
On November 16, according to official news, the chief judge of the United States District Court for the Southern District of New York rejected the class action lawsuit filed by plaintiff Shawn Dolifka against Tether and Bitfinex, and Dolifka decided not to appeal.
New York State Department of Financial Services Introduces Stricter Cryptocurrency Listing and Delisting Guidelines
On November 16, CoinDesk reported that Adrienne A. Harris, director of the New York State Department of Financial Services (NYDFS), said in a statement that the department has strengthened its guidelines for the listing or delisting of cryptocurrencies to enhance protection for crypto investors across the state.
The updated guidance will require crypto companies to submit their token listing and delisting policies for NYDFS approval. The company’s policies will be measured against stricter risk assessment criteria to ensure delistings are conducted “in an orderly manner that protects consumers and minimizes market disruption,” the statement said.
US SEC postpones decision on filing of Hashdex Bitcoin spot ETF and Grayscale Ethereum futures ETF
On November 16, CoinDesk reported that the U.S. Securities and Exchange Commission (SEC) postponed Hashdex's application to convert its existing Bitcoin futures ETF into a Bitcoin spot ETF. The SEC also postponed Grayscale's application to launch a new Ethereum futures ETF.
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