Crypto Morning Brief: Binance to launch Usual on Launchpool; Movement mainnet potentially going live
TechFlow Selected TechFlow Selected
Crypto Morning Brief: Binance to launch Usual on Launchpool; Movement mainnet potentially going live
Coinbase re-enters the top ten in the U.S. Apple App Store, ranking first in the finance category.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Pennsylvania Legislature Proposes Bill to Include BTC in State Reserves
According to Fox Business reporter Eleanor Terrett, the Pennsylvania House of Representatives introduced a legislative proposal today that would allow the state to hold Bitcoin as a reserve asset on its balance sheet. This move is part of a broader effort to recognize Bitcoin as a store of value within the state.
Movement Labs Co-Founder: Movement Mainnet Imminent
Rushi Manche, co-founder of Movement Labs, posted on X saying "Movement mainnet imminent," suggesting that the TGE may be approaching soon.
OpSec Core Team Resigns En Masse; CEO Cites Founder's Long-Term Absence and Centralized Control Over Finances
Chris Williams, CEO of cybersecurity project OpSec, announced his immediate resignation, along with the entire core team. In a statement, Williams said the decision was based on findings from crypto analyst ZachXBT’s investigation and internal team evaluations.
The anonymous founder has reportedly been absent for an extended period while retaining sole control over company finances, preventing effective operational execution. Although the project once reached a record high market cap of $300 million, development slowed amid changing market conditions, partnerships stalled, and several key team members left due to unpaid salaries.
Williams emphasized that despite significant revenue, lack of transparency and insufficient support hindered the team’s ability to achieve its goals. ZachXBT noted on social media that red flags existed early in the project and advised investors to avoid promoters of such projects during this bull cycle.
Coinbase Re-Enters Top 10 in U.S. Apple App Store, Ranks #1 in Finance Category
Amid Bitcoin breaking above $93,000 to set a new all-time high, the Coinbase app surged from rank #435 before the election to #9 overall in the U.S. Apple App Store, topping the finance category. Cash App, which also offers Bitcoin services, currently ranks #30, while crypto and stock trading app Robinhood sits at #13.
Steven Zheng, Research Director at The Block, stated, “Coinbase’s app ranking has historically been seen as a signal of retail users returning to the crypto market.” Notably, Coinbase previously reached the top spot in October 2021, just before the peak of the last bull run.
Crypto KOL Ansem: Multiple AI Meme Coins With Over $10 Billion Market Cap Will Emerge
Crypto influencer Ansem (@blknoiz06) posted on social media that he is “fairly confident” multiple AI meme tokens will surpass $10 billion in market capitalization, though he cannot yet identify which specific projects they will be.
Binance to List Usual (USUAL) on Launchpool and Pre-Market
Binance will launch Usual (USUAL) on both Launchpool and Pre-Market. The Pre-Market listing for USUAL will go live on November 19, 2024, at 10:00 UTC. Launchpool mining will begin on November 15, 2024, at 00:00 UTC.
Usual is a stablecoin protocol whose USD token is a permissionless, fully compliant stablecoin backed 1:1 by real-world assets (RWA). USUAL serves as the governance token, enabling the community to guide the network’s future development.
HashKey’s Xiao Feng: Trump’s Support for Crypto Could Spur China to Resume Digital Asset Market
Xiao Feng, Chairman and CEO of HashKey Group, said in an interview: “If the U.S. Congress and incoming President Trump clearly define cryptocurrency policy, continue legislating, and promote industry development, it will certainly serve as a catalyst for China’s acceptance [of crypto].”
Xiao Feng believes that the 2022 decision by Washington and its Western allies to exclude Russia from the Swift financial system may also push Beijing toward supporting the crypto industry. He said, “Without these events, China might have taken five to six years from now to accept crypto businesses. But now, due to these factors, that timeline could shorten to two years.” So far, the Chinese government has shown no signs of relaxing its ban on digital assets. However, Beijing has allowed Hong Kong to develop its digital asset sector. Xiao Feng suggested that if China resumes development of its digital asset market, it could start with a regulated stablecoin-based payment and clearing system. He stated, “Stablecoins are currently the best solution for cross-border B2C trade,” citing fast transaction speeds and low fees.
Xiao Feng added that his HashKey team recently conducted a survey in Yiwu, finding that nearly every merchant had received inquiries from buyers asking whether popular dollar-denominated stablecoins like USDT and USDC could be used for payments.
Goldman Sachs Holds Over $710 Million in Spot Bitcoin ETF Shares as of Q3
According to Goldman Sachs’ latest 13F filing with the U.S. Securities and Exchange Commission (SEC), as of September 30, 2024, the firm holds eight spot Bitcoin ETFs with a total value of approximately $719 million. Among them, iShares Bitcoin Trust ETF accounts for about $461 million, representing 12.7695 million shares.
ETH/BTC Exchange Rate Hits 0.034636, Lowest Since April 2021
According to HTX market data, the ETH/BTC exchange rate dropped to 0.034636, marking the lowest level since April 2021. It is currently trading around 0.035.
Market Data
Suggested Reading
Interview with 0xWizard: The Man Who Led the Community to Save ACT
AI Summary: This article details how 0xWizard led the community to rescue the ACT project and shares his investment experiences and insights in the crypto space. It explores the characteristics of the ACT project, the power of community, reasons behind Binance’s listing of ACT, and 0xWizard’s outlook on future markets and investment strategies.
AI Summary: This article examines the rise of the "animal rescue" narrative in the crypto market, particularly focusing on meme coins like PNUT and Jorgie. PNUT has drawn attention due to its political controversy, while Jorgie gained traction following a monkey-related incident that sparked widespread discussion on social media. The article also touches on events involving Polymarket founder Shayne Coplan and the resulting meme coin surge, reflecting the crypto community’s sensitivity to regulatory actions.
Breaking the Institutional Coin Curse: Sui’s Path to Unlocking New Assets
AI Summary: This article explores Typus Finance’s innovative liquidity solutions within the Sui ecosystem to break free from the fate of being labeled an “institutional coin.” It details how Typus leverages Deepbook’s order book system and options-driven liquidity mechanisms to realize decentralized token issuance, creating a win-win ecosystem for project teams, market makers, and retail investors.
With AI Narratives Rising, How Is Heurist Powering Agent Computing Demand?
AI Summary: Heurist is a decentralized AI cloud computing protocol designed to address centralization risks, high costs, and low resource utilization associated with traditional centralized cloud services. By allowing GPU owners to contribute computing resources and offering open APIs for users and developers, Heurist enables a new model of computational resource utilization. It ensures result integrity and reliability through cryptographic economic verification, supports various AI applications, and advances its ecosystem through strategic partnerships and a token-based economic model.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
深潮TechFlow
