Mainnet Launch

Web3 Investment Research Weekly|Global spot BTC ETF assets have exceeded $4 billion, ORDI tokens and related protocols have triggered market sentiment, and the NFT market has further recovered Nov. 10, 11:11 Chinese Simplified A quick look at the week The cryptocurrency market as a whole continued to maintain a volatile upward trend this week, with the prices of most mainstream cryptocurrency projects rising to a certain extent, and market confidence continued the bullish trend of last week and was reflected in the price. The total amount of money in the market is now $1.43 trillion, and it has been rising for several weeks. The top 100 cryptocurrency projects have a 25:3 ratio during the week, and the market has risen as a whole, with a moderate range of shocks, concentrated in the Thursday session. BTC reached a high near $38,000, and ETH returned to above $2,000 and remained in that range for a small shock. BTC and ETH rose by 5.0% and 11.9% respectively for the week. Among the top 100 cryptocurrency projects, KAS and ILV have the highest gains, with both rising by more than 60% in a week, KAS benefiting from the project's own phase of solving the scalability of the network, and ILV due to the official announcement that it will be launched on the Epic Games platform in the near future. Overall, the cryptocurrency market continued the bullish trend of last week, with most currency price increases being common, and the key buzzwords this week were ORDI and the associated BRC-20 network. BTC and ETH have maintained similar curves during the week. At present, the price of BTC is maintaining a volatile trend around $36,500, and the price of ETH is currently fluctuating around $2,000. Both coins had a good short-term upward trend during the week, and BTC's rapid pullback failed to stabilize above $37,000. As of now, the global crypto market capitalization has risen to $1.43 trillion, and the entire market has risen by about 2.8% in 24 hours. Crypto market 🔥 Global spot BTC ETF assets have exceeded $4 billion. 🔥 The number of BTC addresses holding more than $1,000 is 8 million, hitting a new high in recent times. 🔥Mike Alfred said SEC insiders say the agency is trying to level the playing field for BTC spot ETF applicants by strategically divulging approval dates ahead of Thanksgiving. 🔥TON performance test TPS exceeds 100,000. 🔥Greeks.live said that the implied volatility of ETH options hit a new high this year. 🔥OpenAI released a new version of GPT-4 Turbo and reduced API fees, added multi-modal capabilities and developer tools, and released a personalized ChatGPT creation tool GPTs, creators can get benefits according to the frequency of user use, and launched the Assistants API, which allows developers to customize AI assistants with one click, and ChatGPT has recently exceeded 100 million weekly active, and more than 92% of Fortune 500 companies and more than 2 million developers use the platform. 🔥 Musk's AI company xAI launched the PromptIDE tool. 🔥The number of BTC holdings by long-term investors has reached a new high. 🔥The Graph has launched a new roadmap to add AI-assisted queries and more. 🔥The total amount of PYUSD outstanding tokens is $158 million. 🔥Wintermute said that the NEAR Foundation refused to fulfill the 11.2 million USN redemption promise involving FTX, and the NEAR Foundation said that Wintermute wanted to use the USN it purchased from Alameda to arbitrage, so it rejected its redemption request. 🔥 The chain game Illuvium is scheduled to be launched on the Epic Games Store on the 28th. 🔥The BRC-20 founders have indicated that they will soon update version 0.9 to the BRC-20 documentation. 🔥The BitVM developers announced the first mainnet transaction of the Blake3 hash lock implemented in the BTC script during the BitVM broadcast. 🔥Sui TVL exceeded 100 million US dollars, continuing to hit a new high. 🔥 The daily trading volume of Ethereum NFT exceeded 10,000 ETH, a new high in the past three months. Regulatory Policy 🔥 The SFC's chief executive said the Hong Kong government is considering allowing retail investors to invest in spot crypto ETFs. 🔥 The SEC has opened a dialogue with Grayscale on promoting the conversion of GBTC to a spot BTC ETF, and analysts said that the SEC will open an eight-day window on November 9, or approve all 12 BTC spot ETFs. Crypto Market Highlights ⭐️ In the past week, the cryptocurrency market has continued its upward cycle, the market optimism has been further enhanced, the short-term rise has been larger, the mainstream currency correction has appeared but the magnitude is small, and the hot spots this week have begun to focus on the BRC20 track driven by ORDI. ⭐️ In the case of the continuation of the bullish trend in the market this week, affected by the news, the long-awaited triple-A and chain game Illuvium rose rapidly, breaking through $89 at a one-week high, a weekly increase of 66%. (Source: CoinGecko) Bitcoin & Ether weekly performance Bitcoin (BTC) (Source: TradingView) The price high of BTC approaching $38,000 this week appeared on Thursday, and it has now pulled back slightly due to the impact of external news about the BTC ETF, but the price has stabilized in the range of $36,000 for a volatile trend, providing a further price basis for the next rally. Overall, BTC's performance in the week seems to be a continuation of last week's trend, and it basically remained in the range of $34,500-$35,000 before being affected by the news. Thursday's impact at $38,000 failed to achieve a further breakthrough, and if the news is not considered in the following week, the probability that the currency will remain in the current price range for a volatile trend will be relatively large. Of course, the probability of positive external news is relatively large, and the price of $38,000 will be a key price resistance level. Ether (ETH) (Source: TradingView) ETH has been relatively stable for most of the week, and began to show a rapid upward trend on Thursday, reaching a high of $2,043, and then starting to maintain a price of $2,000. The price of ETH has risen significantly this week, which is closely related to the rapid increase in the liquidity of the cryptocurrency market, and the trading volume of ETH has also hit a new high, and the probability of this trend will continue in the future. At present, ETH remains at $2,000 and continues to fluctuate slightly, and the probability of a large change in the short term is relatively small. Web3 Project Trends This week, the total market value of seven types of projects rose across the board, and the range of individual tracks was very large, which very intuitively reflected the hot spots and activity of the cryptocurrency market during the week, but it can also explain the upward trend of the market this week. Project Category Weekly Change Top 3 Weekly Gainers Overview Layer 1 4.7% $MUU, INTR, SOUL Layer 1's performance during the week is still dominated by small gains, concentrated in several major secondary currency projects. Layer 2 17.5% WETH, CULT, METIS Layer 2 has risen well this week, with top projects performing well due to the increase in ETH trading flows. DeFi 13.5% CNS, BADGER, FAB The DeFi track continued the trend of enhanced liquidity last week and continued to show a rapid rise. NFT 11.5% XED, GSWAP, CGG The growth rate of the NFT market remained at a high level, and the market further recovered. MEME 5.5% DOUG, BONK, MEME MEME coins did not change much in the overall market, mainly with a slight increase in the head projects. LSD 11.4% BRG, ETHX, RETH The growth of the LSD track is concentrated in several types of ETH-related currencies, which are affected by the rapid rise in ETH price and increased liquidity during the week. BRC-20 113.8% NALS, ORDI, TRAC The BRC-20 track ushered in explosive growth this week, benefiting from the popularity of ORDI, many users began to be optimistic about the prospects of the track, but at present, there seems to be a large short-term correction probability. Author: Charles T., Gate.io Researcher *This article represents the views of the author only and does not constitute any trading advice. *The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible. Save coins for gifts! Like and comment on dynamic posts, save gold coins every day Learn more BTC/USDT + 1.43% ETH/USDT -2.39% DOGE/USDT + 3.04% GT/USDT + 1.08% Related Articles: Market information October 27, 10:22 Bitcoin once exceeded $35,000, the Bitcoin network had an inscription number indexing problem, and the progress of BTC spot ETF continued to advance Market information Nov. 03, 10:39 Web3 Investment Research Weekly|Industry representative data has risen one after another in the month, SOL prices have hit a new high this year, and the trial of the SBF case is nearing the end Market information October 20, 10:15 Web3 Investment Research Weekly|Layer 1 sector recovered, GBTC negative premium rate narrowed to 13%; The G20 unanimously adopted a roadmap for cryptocurrency regulation

The most controversial figure in the Non-fungible Token field, 'cult leader' or 'encryption cultural shaper'?

2. The holder distribution is mint 👌 3. The community is raiding non stop man #1 Raidboard 10 days in a row. There are no less than 50 ppl in the vc round the clock. 4. Cult like community. People are changing their profile pics already. 5. Almost 3200 people in the tg and it's only 10 days old, such rare in Solana eco_. 6. A Whales team was built, which have a gentlemen agreement not to sell and to work as hard as possible for HIM. The cto team is intact from day 1, absolutely no one left. Tasks are delegated through team members based on different timezones, so we have people 24h around in vc/raiding/tweeting etc. 7. Huge marketing plans, different KOLs, community calls, marketing ideas, memes, animated videos etc. I have never seen anything like this outside of Michi. This is a 50M mc community minimum. Tg:

In the past few days, the "Great Mowing Documentary" has actually repeated yesterday's story. It turns out that people will definitely fall in the same place n times. Therefore, the currency circle should never engage in a personality cult, you and I are mortals. And don't make any authority and so-called spiritual leaders... This is also the reason why the West wants to "separate powers" and would rather believe in the constraints of the system than in human nature. This is also the underlying value of the birth of Bitcoin: people would rather believe in an objective and constant mining process than gradually believe in a human-controlled financial system. The inscription on the Bitcoin chain also inherits the genes of his ontology, and its advantages will also be revealed over time (except for "one shot")

#CULT# I wonder if the mystical alt season starts, will $CULT be remembered and will the pump in the alt season be affected? #CULT#