Headline
▌Financial services company Cantor Fitzgerald: MicroStrategy will be included in the Nasdaq 100 index next month
Bitcoin News posted on the X platform that financial services company Cantor Fitzgerald believes that MicroStrategy will be included in the Nasdaq 100 index next month.
▌Bitcoin market dominance rises to 57%
According to data from The Block, Bitcoin's market share has reached a high of 57% so far this year, reflecting Bitcoin's growing share of the total market value of cryptocurrencies.
Analysts at The Block said that in the last cycle, Bitcoin's dominance fell to 39%, which echoed the DeFi craze and the subsequent rally in altcoins. The current 57% dominance, coupled with Bitcoin's price strength, may indicate that the market is at the beginning of this cycle and BTC is entering the price discovery phase.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $98,407.67, with a daily increase or decrease of +4.3%;
ETH's latest transaction price is $3,360.91, with a daily increase or decrease of +9.4%;
BNB's latest transaction price is $622.76, with a daily increase or decrease of +2.7%；
SOL's latest transaction price is 256.79 US dollars, with a daily increase or decrease of +8.8%；
DOGE's latest transaction price is 0.3863 yuan, with a daily increase or decrease of +1.7%；
XPR's latest transaction price is 1.26 US dollars, with a daily increase or decrease of +14.0%。
Policy
▌Cboe submits 4 Solana spot ETF listing applications to the US SEC
Bloomberg senior ETF analyst James Seyffart posted on social media, "Cboe has just submitted applications to the US SEC for 4 Solana spot ETFs, the issuers are VanEck, 21Shares, Canary Capital and Bitwise. If the SEC does not reject the above application, the final deadline is approximately early August next year."
▌Informed sources: Former SEC Commissioner Paul Atkins is expected to succeed Gary Gensler as Chairman
According to informed sources, former US Securities and Exchange Commission (SEC) Commissioner Paul Atkins is currently seen as a hot candidate to succeed Gary Gensler as SEC Chairman. The previous hot candidate, Robinhood General Counsel Dan Gallagher, has basically withdrawn from the competition. Atkins is widely supported by the business and cryptocurrency industries for his free-market-oriented regulatory style and pro-cryptocurrency stance. At the same time, Gensler's decision not to renew his term as SEC chairman has also won praise from the business community. The source pointed out that the candidate has not yet been finalized and may still change.
▌Companies including Circle, Ripple are vying for seats on Trump's promised crypto committee
According to Reuters, a series of cryptocurrency companies including Circle, Ripple, Kraken, Coinbase, a16z, and Paradigm are vying for seats on the cryptocurrency advisory committee promised by President-elect Donald Trump, seeking to have a say in his planned U.S. policy reforms.
Trump promised during his campaign at the Bitcoin conference in Nashville in July that a new committee would be established as part of a cryptocurrency-friendly government. People familiar with the matter said his transition team is discussing how to organize and arrange personnel and which companies should be included.
▌DOGE Head Musk Hints He's Focusing on the SEC
President-elect Trump's new co-head of the Department of Government Efficiency (DOGE) appears to be focusing on the efficiency of the U.S. Securities and Exchange Commission (SEC). Minutes after SEC Chairman Gensler announced on X that he would resign on January 20 next year, Musk responded on X: "Is the SEC really only in the office one day a month?" Musk has been at odds with the SEC for years. In 2018, the tech billionaire agreed to pay a $20 million fine and resign as Tesla chairman to settle a securities fraud investigation. The investigation stemmed from one of his tweets that suggested he had obtained funds to take Tesla private. He was also investigated by the SEC for disclosing stock purchases before acquiring Twitter and derided the agency as a "short sellers' enrichment committee."
▌Trump's "Crypto Advisory Committee" will build previously promised Bitcoin reserves
According to Reuters, Trump's "Crypto Advisory Committee" is expected to build promised Bitcoin reserves.
Two sources said the crypto committee may be affiliated with the White House National Economic Council (responsible for coordinating and implementing the president's economic policies) or an independent White House agency.
According to them and other industry insiders, the committee is expected to provide advice on digital asset policies, work with Congress to advance cryptocurrency legislation, build Trump's promised Bitcoin reserves, and coordinate between agencies including the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Treasury Department. One source also said the committee may include law enforcement representatives and former policymakers.
▌U.S. SEC Chairman Gary Gensler will leave office on January 20 next year
U.S. SEC Chairman Gary Gensler announced that he will leave office on January 20 next year.
Gary Gensler said: "The SEC is an amazing agency. Its staff and committees are mission-oriented, focused on protecting investors, promoting capital formation, and ensuring that markets serve investors and issuers. Its staff are true civil servants. It is my lifelong honor to serve ordinary Americans on their behalf and ensure that our capital markets remain world-leading. I thank President Biden for entrusting me with this important responsibility. The SEC has fulfilled our mission and enforced the law fearlessly."
Blockchain Applications
▌The Metaverse Industry is "Attractive" and Many Places Are Competing for Layout
From the live broadcast room to the scene of the storm, immersive broadcasting takes you to experience it firsthand; the intelligent body "sees through fire", and logistics innovation is at your fingertips; the VR exhibition hall allows you to transcend reality and create a new trend of exhibitions... All of these are inseparable from a hot word "Metaverse". In recent years, the Metaverse has become a new hot spot in the digital economy. Some institutions predict that by 2030, the scale of China's Metaverse market is expected to reach 850 billion yuan. According to incomplete statistics, as of now, more than 150 Metaverse-related policy documents have been issued at the national and provincial levels. These policies not only provide strong policy guarantees for the development of the Metaverse industry, but also stimulate the enthusiasm of various places to actively layout the Metaverse industry. Beijing, Shandong Province, Henan Province and other places have successively introduced relevant policies to promote the innovative development of the Metaverse industry. At the same time, various regions have also built a number of metaverse industrial parks and innovation platforms based on their own advantages and special resources. (Shanghai Securities News)
Cryptocurrency
▌Charles Schwab President: Once regulations change, it will consider offering spot crypto trading
Charles Schwab President Rick Wurster said in a Bloomberg Radio interview on Thursday that the company will consider offering spot cryptocurrency trading once U.S. regulations allow it, which is more likely to happen after Donald Trump takes office as president.
Rick Wurster said: "When the regulatory environment changes, we will enter the spot cryptocurrency field. We do expect it to change, and we are preparing for this possibility."
He also said: "Cryptocurrency has indeed attracted a lot of people's attention and they have made a lot of money from it. I haven't bought cryptocurrency, and now I feel stupid." Wurster added that he does not plan to invest in cryptocurrency for the time being, but he supports Schwab clients who want to invest in the field.
▌Trump Media Technology Group may be considering launching a crypto payment service called Truth Fi
According to the New York Times, according to a trademark application filed this week, Trump Media Technology Group has filed an application for a cryptocurrency payment service called Truth Fi, describing it as a platform for crypto payments, financial custody services, and digital asset transactions. The application does not detail how the project will work or how close it is to fruition, but the move appears to be an attempt by the group to diversify its business beyond the social media platform Truth Social. Any large-scale crypto project is likely to require Trump Media Technology Group to acquire another company, as it has fewer than 36 employees. This week, shares of crypto trading platform Bakkt soared after the Financial Times reported that Trump Media was in talks to acquire the platform.
▌Musk posted content containing banana emojis
Musk retweeted the comment "Elon is the undisputed meme king. (Banana symbol)" on X, and replied: "(Banana symbol) for scale".
▌Galaxy CEO: Bitcoin's breakthrough of $100,000 is inevitable, but there may be a pullback
Michael Novogratz, founder and CEO of Galaxy Digital, said that Bitcoin is expected to break through the much-anticipated $100,000 mark in the strong rebound after the US election, but this does not mean that it will continue to rise. Although it is "inevitable" for Bitcoin prices to reach six figures and may continue to rise, it will eventually pull back. There is a lot of leverage in the cryptocurrency market at present, and the crypto community is already highly leveraged, so a market correction is coming.
In addition, Michael Novogratz also warned that stocks like MicroStrategy, which trade in a manner similar to leveraged trading of Bitcoin, may face larger adjustments.
▌The board of directors of listed company Steakholder Foods approved its purchase of cryptocurrency as a reserve asset
Nasdaq-listed company Steakholder Foods Ltd. announced that the company's board of directors has approved the purchase of up to $1 million worth of Bitcoin or an index tracking cryptocurrency.
Steakholder Foods CEO Arik Kaufman said: "With the growing demand for cryptocurrencies and their increasing acceptance as an asset class, we believe that Bitcoin or a diversified basket of cryptocurrencies including Bitcoin will become a strong financial reserve asset for companies. Given the recent approval of cryptocurrency ETFs and the growing support of institutional investors, cryptocurrencies can be a good complement to financial strategies to provide a practical store of value."
Important Economic Dynamics
▌New York Fed says bank reserves are sufficient, showing no obstacles to continued balance sheet reduction
The latest data from the New York Fed shows that the Federal Reserve has not encountered any obstacles in continuing to reduce the size of its balance sheet. The New York Fed reported on Thursday that its reserve demand elasticity indicator was -0.15 on November 13, which remained stable compared with a month ago. "Reserves remain ample," the New York Fed said in its report. The index, which began to be publicly released a month ago, is designed to show how ample or tight bank reserves are. The shift to negative values may indicate that bank reserves are becoming more strained, which directly reflects the Fed's continued efforts to reduce bond holdings through quantitative tightening (QT). The New York Fed's indicators show that there is no need to stop this process immediately, which is consistent with recent comments from Fed officials and market expectations that quantitative tightening will end sometime next year.
▌Shanghai Securities News: The dollar has limited upside, and the RMB exchange market shows positive signals
The US dollar index has been in the spotlight in the foreign exchange market recently. In the past half month, the US dollar index has been unstoppable, breaking through the 104, 105, and 106 levels in succession, and has risen by more than 2.5% since November. Facing external headwinds, the previously strong RMB has recently retreated slightly. However, market participants have observed that the RMB exchange market is continuing to show positive signals. With the arrival of the year-end foreign exchange wave, the short-term depreciation pressure on the RMB may come to an end.
▌The probability of the Fed cutting interest rates by 25 basis points in December is 55.9%
According to CME's "Fed Watch", the probability of the Fed maintaining the current interest rate unchanged by December is 44.1%, and the probability of a cumulative interest rate cut of 25 basis points is 55.9%. The probability of maintaining the current interest rate unchanged by January next year is 33.7%, the probability of a cumulative interest rate cut of 25 basis points is 53.1%, and the probability of a cumulative interest rate cut of 50 basis points is 13.2%.
Golden Encyclopedia
▌What is Dogwifhat (WIF)?
Launched in November 2023, Dogwifhat is a Solana-based memecoin featuring a Shiba Inu wearing a pink knitted hat. Rather than positioning itself as a symbol of progress or a vision for the future, WIF has kept it simple, embracing its meme identity without any grand ambitions. Even the code “WIF” is misspelled with “with,” a typical meme form that highlights the fun nature of the token.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for informational reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to increase risk awareness.
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