Crypto Morning News: Monad has launched its testnet, and MicroStrategy has acquired 51,780 additional bitcoins in the past week
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Crypto Morning News: Monad has launched its testnet, and MicroStrategy has acquired 51,780 additional bitcoins in the past week
Trump will hold a private meeting with Coinbase CEO on Monday to discuss personnel appointments.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
MicroStrategy added 51,780 Bitcoin over the past week, worth approximately $4.6 billion
Michael Saylor, founder of MicroStrategy, announced that the company purchased an additional 51,780 bitcoins, valued at around $4.6 billion, with an average purchase price of $88,627. As of November 17, 2024, MicroStrategy holds 331,200 bitcoins, representing a total investment of approximately $16.5 billion and an average holding cost of $49,874. The company’s Bitcoin portfolio has delivered a return of 20.4% quarter-to-date and 41.8% year-to-date.
MicroStrategy plans to issue $1.75 billion in convertible preferred notes to acquire more BTC and for general corporate purposes
MicroStrategy announced its intention to offer $1.75 billion in 0% convertible senior notes due 2029. The company also expects to grant the initial purchasers of the notes an option to buy up to an additional $250 million in principal amount within three days of the initial issuance. The offering is subject to market and other conditions, and there is no assurance as to whether, when, or on what terms the offering may be completed.
MicroStrategy intends to use the net proceeds from this offering to purchase additional Bitcoin and for general corporate purposes.
Trump’s social media firm in advanced talks to acquire crypto exchange Bakkt
According to the Financial Times, Trump Media & Technology Group, the social media company founded by Donald Trump, is in advanced discussions to acquire Bakkt, the cryptocurrency trading platform owned by Intercontinental Exchange.
Magic Eden reveals tokenomics: 1 billion total supply, 12.5% allocated to initial airdrop
Magic Eden has released the tokenomics for its ME token, with a total supply of 1 billion tokens. Token distribution will occur over four years, with over half allocated to the community.
The initial TGE allocation includes 12.5% for early claimers, 37.7% for community and ecosystem development, 26.2% for contributors, and 23.6% for strategic participants. All ME tokens will be fully distributed within four years, with the majority going to the community.
Coinbase International to launch IO perpetual contracts
According to official announcements, Coinbase International and Coinbase Advanced will list io.net (IO) perpetual contracts. The IO-PERP market will open on or after November 21, 2024, at 17:30 UTC+8.
Lido co-founders preparing blockchain identity platform codenamed "Y", competing with World Network
Sources indicate that Cyber Fund, led by Lido co-founders Konstantin Lomashuk and Vasiliy Shapovalov, is preparing a blockchain-based identity verification platform codenamed "Y", directly competing with Sam Altman’s World Network.
Unlike World Network, which uses iris scanning for identity verification, Project Y will leverage users’ social media and blockchain activity data, combined with the Ethereum Attestation Service (EAS), to verify identities. This approach aims to mitigate risks associated with biometric data breaches and minimize fraud.
Ethereum-compatible Layer 1 blockchain Monad launches testnet
Monad, an Ethereum-compatible Layer 1 blockchain, has begun rolling out its testnet in phases. Crypto trader Jordan Fish (aka Cobie) confirmed on social media that he has successfully executed transactions on the Monad testnet, noting fast transaction speeds.
During internal testing when launching its developer network in March, Monad Labs achieved 10,000 transactions per second (TPS). The project rebuilds the EVM using a pipelined architecture, claiming one-second block times and instant finality, though it requires roughly twice the hardware resources of the Ethereum mainnet.
DuckChain, the first consumer-focused Layer built on TON, launches mainnet and introduces innovative ISO concept
Officially announced, DuckChain—the first consumer-oriented Layer built on TON—has launched its mainnet and introduced the innovative concept of ISO (Initial Star Offering). Users can convert Telegram Stars into on-chain Stars via ISO, enabling various on-chain interactions. This innovation significantly lowers the barrier to entry for Web2 users. ISO will serve as a unique asset issuance and user engagement model within the Telegram ecosystem, providing a novel solution for mass adoption.
DuckChain has attracted nearly 50 ecosystem projects and is the first consumer Layer on TON to support EVM compatibility, further enriching the on-chain application ecosystem and drawing more EVM developers into the network.
Multiple Dexx users report suspicious email login attempts; advised to update linked account passwords immediately
OneKey Security Lab issued a security alert after multiple users of the Dexx trading platform reported suspicious login attempts on their linked email accounts. OneKey advises users to take immediate protective actions, especially those who use the same password for both Dexx and their email: 1) Immediately change passwords for all Web2 accounts using identical credentials; 2) Completely abandon any potentially compromised password combinations; 3) Pay special attention to the security of email accounts containing sensitive information and multi-factor authentication.
MORPHO token to enable transfer functionality on November 21
DeFi lending protocol Morpho announced that its governance token MORPHO will enable transfer functionality on November 21. Since its launch in June 2022, the Morpho DAO has gradually distributed ownership to protocol users, strategic partners, risk assessors, and other contributors. Initially deployed as a non-transferable token, the decision to enable transfers was made by the DAO rather than any centralized entity. During the non-transferable phase, the DAO prioritized distributing ownership among users, contributors, and strategic partners.
CryptoQuant CEO: Small BTC transaction volume hits 3-year high, signaling retail re-entry
Ki Young Ju, CEO of CryptoQuant, noted on social media that transaction volumes for Bitcoin under $100,000 have reached a three-year high, indicating that retail investors are returning to the crypto market.
Ju also analyzed large transactions exceeding $1 million, suggesting that from a whale’s perspective, there may be a wait for greater exit liquidity. He predicts that retail FOMO could peak if Bitcoin surpasses $100,000. While short-term market corrections are possible, he does not believe this signals the start of a bear market.
Trump to hold private meeting with Coinbase CEO on Monday to discuss appointments
According to The Wall Street Journal, U.S. President-elect Donald Trump will meet privately with Coinbase CEO Brian Armstrong on Monday. Sources say the two are expected to discuss personnel appointments for Trump’s second administration.
This marks Trump’s first meeting with Armstrong since winning the election. Previously skeptical of cryptocurrencies, Trump has recently become a vocal supporter of the industry. Earlier this year, he stated at a Bitcoin conference that, if elected, he would establish a Presidential Advisory Committee on Bitcoin and Cryptocurrency to create transparent regulatory guidelines. Armstrong has previously publicly recommended appointing Hester Peirce, a current SEC commissioner nominated by Trump, as the next SEC chair. It was also reported that Coinbase donated over $100 million to various political action committees before the election, including $40 million supporting pro-crypto candidates.
Market Data
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