Crypto Morning Brief: Harris and Trump neck-and-neck in swing states, NEON, BANANA, ADA among tokens seeing major unlocks this week
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Crypto Morning Brief: Harris and Trump neck-and-neck in swing states, NEON, BANANA, ADA among tokens seeing major unlocks this week
The increasingly intense competition in Pennsylvania could affect the election outcome.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Latest Polls: Harris and Trump Tied in Swing States
The latest polls show Democratic presidential candidate Kamala Harris holding a narrow lead over Republican candidate Donald Trump in Nevada, North Carolina, and Wisconsin, while Trump leads in Arizona.
A new poll released Sunday (November 3) by The New York Times and Siena College shows Harris and Trump are neck-and-neck in Michigan, Georgia, and Pennsylvania—three other key swing states—making the race extremely tight.
All seven states fall within the margin of error, meaning neither candidate holds a decisive advantage in any of them.
Since entering the race, Harris has consistently led by four percentage points in Pennsylvania polls. However, Trump’s support has been rising steadily, bringing both candidates to parity. Intensifying competition in Pennsylvania could prove pivotal for the election outcome.
NEON, BANANA, ADA and Other Tokens Face Major Unlock Events This Week, Releasing ~$50.73 Million Worth of Supply
According to Token Unlocks data, the following crypto projects will unlock tokens this week (November 4–10), releasing approximately $50.73 million worth of tokens:
Cardano (ADA) unlocks on November 6 at 8:00 AM Beijing time, valued at around $6.16 million, representing 0.05% of current circulating supply.
Neon (NEON) unlocks on November 7 at 8:00 AM Beijing time, valued at about $20.16 million, or 44.92% of current circulating supply.
Banana Gun (BANANA) unlocks on November 8 at 8:00 AM Beijing time, valued at roughly $12.06 million, or 7.21% of current circulating supply.
XAI unlocks on November 9 at 5:30 PM Beijing time, worth approximately $6.33 million, or 4.89% of current circulating supply.
Bitget Token (BGB) unlocks on November 10 at 8:00 AM Beijing time, valued at around $6.02 million, or 0.38% of current circulating supply.
Sotheby’s VP: Never Promoted BAN Token; Meme Coin Has No Affiliation with Sotheby’s Role
Michael Bouhanna, Vice President at Sotheby’s, posted on X clarifying widespread misinformation about a meme coin named BAN: “There are many misconceptions and false claims circulating, and I want to set the record straight. Nine days ago, I launched a token called BAN on Pump.Fun as a personal passion project, entirely unrelated to my position at Sotheby’s. I did not anticipate such attention—the rapid growth was unexpected and entirely community-driven, without any involvement from me.”
Arthur Hayes: Solana Will Be the 'High Beta Bitcoin' During U.S. Election Period
Arthur Hayes, co-founder of BitMEX, expressed bullish sentiment toward Solana ahead of the U.S. election, calling it the “high beta version of Bitcoin” during an episode of the Unchained podcast. With just days until the election, Hayes explained that Solana is attractive due to its strong liquidity, noting that if Bitcoin performs well, Solana is likely to follow.
Hayes added that in the long term, it doesn’t matter who wins the U.S. election, as the primary driver for digital assets will be the Federal Reserve’s decision on whether to cut interest rates on November 7.
He also stated a preference for SOL over ETH, criticizing Ethereum for being currently “too slow,” and said it needs a new narrative to shift perceptions after months of underperformance. Regardless of political outcomes, significant improvements in crypto regulation are unlikely, and investors should focus more on market fundamentals than political developments, which typically only create short-term market impacts.
QCP: Bearish Sentiment Rises for BTC and ETH; Election Could Trigger 'Buy the Rumor, Sell the News' Scenario
QCP released a weekend summary stating that Thursday’s core PCE inflation data slightly exceeded expectations (actual year-over-year increase of 2.7%, vs. 2.6% expected). In contrast, Friday’s Non-Farm Payroll (NFP) report came in significantly below forecasts (actual: 12K jobs, expected: 110K), causing the U.S. Dollar Index (DXY) to rebound and return to the 104 level.
Bitcoin hit a new all-time high Tuesday night, peaking at $73.6K, driven by anticipation surrounding the election week. Despite Bitcoin’s strong performance, Ethereum remained relatively flat, failing to break above the $2.7K mark. Amid robust ETF inflows, Bitcoin saw over $2.1 billion in net inflows this week.
Although Bitcoin dropped below $69,000 on Friday, market interest remains high, with total open interest in BTC futures and BTC options staying elevated at $40.65 billion and $25.3 billion respectively. Heading into the election week, short-term implied volatility for BTC and ETH remains above the 72 volatility level, and put skew continues to rise as traders increase downside protection.
21Shares Submits XRP ETF Application to U.S. SEC
Public filings with the U.S. Securities and Exchange Commission (SEC) show that 21Shares has submitted an S-1 form to launch the first XRP exchange-traded fund (ETF), the “21Shares Core XRP Trust.”
The fund will track the price of XRP and is intended to list on the Cboe BZX Exchange. The trust will not use leverage or derivatives and aims to reflect XRP’s USD performance via the CME CF Ripple-Dollar Reference Rate (New York variant). Coinbase Custody will serve as the custodian for the trust, responsible for safeguarding all assets.
Andre Cronje: Coinbase Repeatedly Demanded Listing Fees, Willing to Release Evidence for Public Review
Andre Cronje, co-founder of Sonic Labs, commented on recent controversies regarding exchange listing fees. He stated: “Binance didn’t charge us a listing fee, but Coinbase repeatedly asked for one—offering prices of $300 million, $50 million, $30 million, and most recently $60 million.”
In response, some Coinbase supporters argued that Andre may have contacted fake Coinbase listing personnel and questioned Sonic Labs’ due diligence.
Cronje responded again: “I didn’t sign an NDA, so I’m happy to provide proof—the demands came from multiple Coinbase employees/departments over the years through emails, Telegram, and Slack. I’m certain Coinbase might argue these aren’t listing fees but other types of fees, but they still translate into listing costs for projects. I know Coinbase might try legal distancing, but I’m happy to release all evidence and let the public judge.”
DWF Labs Co-Founder Considers Legal Action Against Former Partner Eugene Ng
Andrei Grachev, co-founder of DWF Labs, posted on X: “When I saw the surveillance footage, I was shocked. How could he do such a thing? This is the worst thing a person can do and deserves severe punishment—no mercy. We’ve withdrawn our funds and are considering further legal action against Eugene Ng.”
Market Update
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From DOGE to WIF: Analyzing the Layered Evolution of Memecoins and Capital Rotation
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Four Charts to Understand Nillion: The First Blind Computation Network Redefining Data Privacy
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Claim All Airdrops: Save This Complete Guide to the 76 Most Promising Q4 2024 Airdrops
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