🌅 Nov 7 On-Chain Morning Brief | Nonfarm Payrolls Stoke Rate-Hike Bets, Crypto Markets Under Pressure on All Fronts
📊 Macro: U.S. nonfarm payrolls rose by 165,000 in October, far above expectations of 64,000, while the unemployment rate fell to 4.1%. Market bets on a rate hike in December surged to 77%, strengthening the dollar and pushing gold prices lower, with risk assets broadly under pressure. Spot Bitcoin ETFs saw net outflows of $430 million in a single day.
🔥 Industry Highlights:
• The $6.3 billion Binance hack continues to make waves: attackers lay low for eight weeks before striking. The FT reports that banks will face crypto security reviews, while TRM Labs called it “cyber warfare.”
• The Russian central bank approved retail investors to officially trade BTC, ETH, and USDT starting November 17—a historic shift in the country’s sovereign stance.
• The central bank halted an offline Solana event in Shanghai and launched an investigation, weighing on prices in the short term.
• The U.S. Treasury cut MEXC off from access to the U.S. dollar system over $16 billion in alleged illicit transactions.
• Fidelity transferred 27,000 ETH (about $60.27 million) to Galaxy to sell.
💡 Project Updates: AAVE acquired Avon to enter the fixed-rate lending market, with deposits now totaling $33 billion. ZEC’s NU7 upgrade went live, cutting block times to 25 seconds; Grayscale’s ZEC ETF holdings surged 54% in one month. Circle minted another $250 million in USDC on Solana.
Rate-hike expectations and security incidents are weighing on short-term sentiment, but sovereign adoption and progress in RWA show that the trend won’t be stopped by the noise.
NFA | DYOR
#比特币 #加密货币早报 #币安广场 #美联储加息 #Web3
📊 Macro: U.S. nonfarm payrolls rose by 165,000 in October, far above expectations of 64,000, while the unemployment rate fell to 4.1%. Market bets on a rate hike in December surged to 77%, strengthening the dollar and pushing gold prices lower, with risk assets broadly under pressure. Spot Bitcoin ETFs saw net outflows of $430 million in a single day.
🔥 Industry Highlights:
• The $6.3 billion Binance hack continues to make waves: attackers lay low for eight weeks before striking. The FT reports that banks will face crypto security reviews, while TRM Labs called it “cyber warfare.”
• The Russian central bank approved retail investors to officially trade BTC, ETH, and USDT starting November 17—a historic shift in the country’s sovereign stance.
• The central bank halted an offline Solana event in Shanghai and launched an investigation, weighing on prices in the short term.
• The U.S. Treasury cut MEXC off from access to the U.S. dollar system over $16 billion in alleged illicit transactions.
• Fidelity transferred 27,000 ETH (about $60.27 million) to Galaxy to sell.
💡 Project Updates: AAVE acquired Avon to enter the fixed-rate lending market, with deposits now totaling $33 billion. ZEC’s NU7 upgrade went live, cutting block times to 25 seconds; Grayscale’s ZEC ETF holdings surged 54% in one month. Circle minted another $250 million in USDC on Solana.
Rate-hike expectations and security incidents are weighing on short-term sentiment, but sovereign adoption and progress in RWA show that the trend won’t be stopped by the noise.
NFA | DYOR
#比特币 #加密货币早报 #币安广场 #美联储加息 #Web3