Crypto Morning Brief: Bitcoin hits new high after Trump election win; VanEck research head says ETH is oversold
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Crypto Morning Brief: Bitcoin hits new high after Trump election win; VanEck research head says ETH is oversold
Inflation in the U.S. may rise rapidly after Trump takes office, prompting the Federal Reserve to alter its rate-cutting plans.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump wins election, becomes 47th President of the United States
According to the Associated Press, Donald Trump has been elected as the 47th President of the United States.
Yesterday’s on-chain fund flows: Solana sees $13.3M net inflow, Ethereum sees $34.3M net outflow
On November 6, data from Artemis showed that Solana recorded a net inflow of $13.3 million, Base saw $8.8 million in net inflows, Sui had $5.5 million, Arbitrum $4.1 million, and Polygon $3.2 million. Meanwhile, Ethereum experienced a net outflow of $34.3 million.
Trump made 11 crypto-related promises, including firing current SEC Chair and establishing a "National Bitcoin Reserve"
Spot On Chain summarized on X (formerly Twitter) the 11 commitments Trump has made regarding cryptocurrency:
1/ Fire SEC Chair Gary Gensler on Day One of taking office
2/ Establish a “National Bitcoin Reserve”
3/ Make America the “global capital of Bitcoin and cryptocurrencies”
4/ Retain 100% of the 203,650 BTC ($14.95 billion) currently held by the U.S. government
5/ Eliminate capital gains tax on Bitcoin
6/ Support Bitcoin mining in the United States
7/ End regulatory crackdowns (“anti-crypto campaigns”)
8/ Establish a “Presidential Advisory Committee on Bitcoin and Cryptocurrencies”
9/ Protect individuals’ rights to self-custody digital assets
10/ Reject issuing a Central Bank Digital Currency (CBDC)
11/ Commute the double life sentence of Silk Road founder Ross Ulbricht
Analyst: U.S. inflation may surge under Trump, prompting Fed to revise rate-cut plans
According to Jinshi News, analysts at Edmond de Rothschild Group stated in a report that under Trump’s leadership, U.S. inflation could rise rapidly. Risks from trade tariffs and threats to deport undocumented immigrant workers may push inflation higher, challenging the Federal Reserve’s efforts to control price growth. They added: “As the inflationary impact of Trump’s policies becomes clearer, the Fed may partially abandon its previously expected 100-basis-point rate cut plan outlined in its latest report.”
Alliance Games raises $5M in Series A funding; launches Alliance Micro Node on Telegram
Alliance Games, a decentralized AI infrastructure platform built for gaming, announced it has raised $5 million in Series A funding led by Animoca Brands and Asymm Ventures, bringing its total funding to $8 million.
In addition, Alliance Micro Node is now live—a lightweight AI interaction node deployed on Telegram that enhances AI response speed and efficiency through a smart reward mechanism. Users can run Micro Nodes at zero cost to earn project token rewards and stand a chance to win USDT prizes via lottery.
Alliance Games aims to build decentralized AI infrastructure tailored for games, leveraging distributed computing power to give developers access to advanced AI tools, unlocking creative potential and delivering unprecedented interactive experiences for players.
Binance lists COW and CETUS with Seed Tag applied
According to an official announcement, Binance will list Cow Protocol (COW) and Cetus Protocol (CETUS) tokens at 20:00 (UTC+8) on November 6. New spot trading pairs include COW/USDT and CETUS/USDT. Deposits opened two hours earlier. Withdrawals will be enabled on November 7 at 20:00 (UTC+8).
Stablecoin protocol Usual completes $1.5M community fundraising round with Breed Syndicate participation
Official sources report that stablecoin protocol Usual has completed a $1.5 million community fundraising round, with participation from The Echonomist, Breed Syndicate, and Comfy Capital.
Usual is a stablecoin protocol launching USD, a permissionless and fully compliant stablecoin backed 1:1 by real-world assets (RWA). USUAL is the governance token allowing the community to guide the network’s future development.
VanEck Research Head: ETH currently oversold, speculative capital likely to return
Matt Sigel, VanEck’s Head of Digital Asset Research, shared his views on the ETH market during a panel discussion. Sigel said: “I believe ETH is currently oversold… Speculative activity will return to this market, and I don’t think it will overlook Ethereum.”
Avalanche Foundation repurchases $52M worth of AVAX
According to The Block, the Avalanche Foundation announced it has completed the repurchase of approximately $52 million worth of AVAX tokens from the Luna Foundation Guard (LFG), marking the end of its ties with the collapsed Terra ecosystem. The bankruptcy court recently approved the transaction.
The foundation repurchased 1.97 million AVAX tokens originally stemming from a strategic partnership between Avalanche and Terra in early 2022, when both parties executed a $300 million cross-token swap deal.
Elon Musk’s net worth surges $20.9B in one day, solidifying position as world’s richest person
According to Jinshi Data, following Donald Trump’s victory in the U.S. presidential election—whom Elon Musk supports—Tesla (TSLA.O) closed up 14.75% on Wednesday in U.S. trading. Forbes billionaire data shows that Tesla’s surge boosted CEO and founder Elon Musk’s net worth by $20.9 billion in a single day, reaching a total of $285.6 billion, far surpassing Jeff Bezos, who ranks second on the global billionaires list.
Market Performance
Suggested Reading
AI Summary: In his victory speech, Trump emphasized key policy directions for the future, including strengthening border security, expanding energy resource utilization, reducing debt and taxes. He plans to drive economic growth through abundant oil and natural gas resources to maintain America’s global competitive edge. Additionally, he highlighted the importance of education quality and military strength, committing to ending wars rather than starting them. Trump also thanked numerous supporters and key figures, including the Vice President, Elon Musk, and prominent individuals from sports and media. He called for national unity to build a safer, more prosperous America.
Trump returns to the White House—reshaping global financial markets
AI Summary: This article discusses the implications of Donald Trump winning the 2024 U.S. presidential election and returning to power, particularly its profound impact on global financial markets. It analyzes Trump’s economic policies across trade, taxation, immigration, and energy sectors, along with their potential effects on cryptocurrency and financial markets.
How to track 'smart money' movements in crypto during U.S. Election Day?
AI Summary: This article explores the potential impact of the U.S. election on the cryptocurrency market by analyzing three key indicators: tick-by-tick trading data, funding rates, and implied volatility. It notes that election outcomes could trigger market volatility and highlights discrepancies between prediction markets and opinion polls. The article also examines expected changes in Bitcoin prices and other dynamics within the crypto market.
How to predict market trends and potential price movements?
AI Summary: This article provides a detailed guide on interpreting cryptocurrency candlestick charts and their application in trading. It covers the basic structure of candlesticks, various chart patterns, and how to use technical indicators to analyze market trends. It also discusses the unique characteristics of the crypto market and their influence on trading strategies.
How to leverage trading bots and wallet trackers to win in the trading arena?
AI Summary: This article explores how to enhance trading performance in the cryptocurrency space using trading bots and wallet tracking tools. The author shares personal strategies involving trading bots and wallet monitoring, and introduces practical tools such as Tree Capital and Mugetsu to help users better analyze market dynamics and make informed investment decisions.
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