Trump’s Victory Sparks Crypto Surge! 🚀

The Essential Weekly Crypto Briefing ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌       [CoinMarketCap Logo](~/AAQRxQA~/RgRpEE3zP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPWo0MzVsNDhsNnBnbFcDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) 08 Nov 2024 08:15 UTC CMC Market Pulse: The Essential Weekly Crypto Briefing Welcome to this week’s CMC Market Pulse! The week’s headlines delivered waves of volatility, with the US Presidential Elections capturing market attention. We’re here to cover all the key developments in under five minutes—no fluff, just insights.   TLDR: - Trump Victory Boosts BTC: Bitcoin touched $76K amid post-election rally. - US BTC Reserve Proposal: Senator Lummis pushes for the US government to purchase BTC as a strategic reserve asset. - UBS Embraces Blockchain: Swiss bank UBS launches a tokenized fund on Ethereum. 🏦   MARKET OVERVIEW 📈 [Bitcoin] Bitcoin $76,039.1 --------------------------------------------------------------- % CHANGE 7D ▲9.82% 30D ▲22.38% [Ethereum] Ethereum $2,904.49 --------------------------------------------------------------- % CHANGE 7D ▲16.09% 30D ▲19.38% Markets began the week cautiously ahead of the US Presidential Elections, but a decisive Trump victory triggered a strong bullish reaction across traditional and crypto markets alike. Total Crypto Market Cap climbed 9% to $2.675T, with Bitcoin (BTC) rallying 8.92% and Ethereum (ETH) showing renewed strength, up 15.56%. - Liquidations: Short positions took a heavy hit midweek, with $426M in short liquidations during the election results. - Funding Rates: BTC and ETH funding rates remained stable around 10%. Key events this week included: - Spot BTC ETFs saw a record $6B in volume following the election. - Senator Cynthia Lummis proposes a bill for the US to acquire 200,000 BTC per year. - UBS launches a tokenized investment fund on Ethereum, following BlackRock and Franklin Templeton. Why does it matter? The Trump victory sparked a surge across the board, with BTC reaching $76K. Equities followed suit, with the S&P 500 and Nasdaq rising over 4% each. BTC’s dominance briefly hit 60.96%, although later in the week, altcoins regained some traction, especially ETH, which outperformed after prolonged weakness. [Read the full story!](~/AAQRxQA~/RgRpEE3zP0RpaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9MXljM25sYXVoYXZoVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   NARRATIVE OF THE WEEK 📰 The crypto world is abuzz as Trump takes office, sparking hope for a more favorable regulatory environment. - Trump Wins: The US presidential race ends with Trump securing a second term. - Aylo’s Take: Analyst Aylo discusses potential impacts, including BTC as a strategic reserve, DeFi support, and eased regulations for crypto startups. Why does it matter? Trump’s pro-crypto stance and vision to make the USA a “crypto capital” has generated optimism for regulatory clarity and support for the industry. Investors are anticipating that the next four years could bring significant growth and mainstream acceptance for crypto and blockchain technology. [Read the full story!](~/AAQRxQA~/RgRpEE3zP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9ZXk4NTRlMm9sdGsyI2hlYWRlci0xVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   MAJOR PROJECT UPDATES 🗓️ - Opensea opens a waitlist for a “new Opensea” set to launch in December, sparking speculation of a token release. - Uniswap’s L2, Unichain, deploys a validation network for greater security and decentralization. - EigenLayer launches the Eigen Economy dashboard for real-time ecosystem metrics. - Nethermind unveils Surge, a rollup built on Taiko’s stack. - Eclipse (Ethereum’s first SVM L2) goes live, enhancing scalability on Solana’s Virtual Machine. - Superseed plans a Supersale, offering 20% of its total supply at a $100M valuation. - The Degen L3 moves away from Rollup-as-a-Service provider Conduit, citing key management issues. Why does it matter? Opensea’s potential token could restore its competitive edge, especially if favorable Trump-era regulations reduce the SEC’s scrutiny. Decentralization advances, like Unichain’s validation network, indicate a shift toward more secure and robust L2 solutions. [Read the full story!](~/AAQRxQA~/RgRpEE3zP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9eXF2djllMG5jMm03I2hlYWRlci0yVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   DEFI BRIEF 🏦 [DeFi TVL ](~/AAQRxQA~/RgRpEE3zP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9N3Zzc2F0dGJtbHVuI2hlYWRlci0zVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) - Wintermute proposes a revenue-sharing mechanism for Ethena’s sENA holders. - Ranger Finance launches on Solana as a perpetual DEX aggregator. - Euler Finance introduces rEUL, a new locked EUL token model for yield efficiency. - Panoptic goes live on Ethereum, capitalizing on its deep liquidity. - Morpho Protocol opens transferability for MORPHO tokens on Base and Ethereum. Why does it matter? The Trump administration’s potential regulatory leniency has already sparked new revenue-sharing proposals in DeFi, particularly for protocols like Ethena, which can now explore token-based value accrual for sENA holders. This could lead to a renaissance in DeFi tokenomics. [Read the full story!](~/AAQRxQA~/RgRpEE3zP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9c3Z1ZDNldmt1MWNpI2hlYWRlci0zVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   MEME COINS 🚀 Price 24H% [Dogecoin] [Dogecoin](~/AAQRxQA~/RgRpEE3zP0QuaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2RvZ2Vjb2luL1cDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) $0.2 ▲2.99% [Shiba Inu] [Shiba Inu](~/AAQRxQA~/RgRpEE3zP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL3NoaWJhLWludS9XA3NwY0IKZyzzyC1nVOoKFlIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) $0.0 ▲1.63% [Pepe] [Pepe](~/AAQRxQA~/RgRpEE3zP0QqaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL3BlcGUvVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) $0.0 ▲4.0% [dogwifhat] [dogwifhat](~/AAQRxQA~/RgRpEE3zP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2RvZ3dpZmhhdC9XA3NwY0IKZyzzyC1nVOoKFlIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) $2.31 ▼1.18% [Bonk] [Bonk](~/AAQRxQA~/RgRpEE3zP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2JvbmsxL1cDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) $0.0 ▲2.13% - Virtuals Protocol unveils fun.virtuals.io, a launchpad for autonomous AI agents, dubbed the “pump.fun of AI agents.” - PNUT memecoin launches, inspired by a viral squirrel story. Even Elon Musk tweeted about it!   VC FUNDRAISES AND AIRDROPS 💰 - Vlayer raises $10M for Ethereum data infrastructure development. - Pond secures $7.5M for AI-driven crypto solutions. - Cytonic raises $8.3M for blockchain compatibility solutions. - Usual Money completes a $1.5M community raise. - Phi closes a strategic round to fund its on-chain identity platform. - Swell Network opens SWELL token claims, distributing 8.5% of the total supply. - Arkham Exchange Points incentivizes volume for its new perpetual DEX. - Sonic announces an NFT-based airdrop, tied to a December snapshot for Sonic Shards holders. [Check out the full list of fundraisers and airdrops here.](~/AAQRxQA~/RgRpEE3zP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS10cnVtcC1hbmQtdGhlLWdvbGRlbi1idWxsLXJ1bj9saWQ9cDBhaG12ODdmejZyI2hlYWRlci01VwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   TWEET OF THE WEEK 📝 [Tweet of the week] US senators are tweeting like this, and you’re not bullish?   Thank you for reading this week’s edition of CMC Market Pulse. Stay informed, stay secure, and we’ll see you next week for more insights!   [Apple Store](~/AAQRxQA~/RgRpEE3zP0Q6aHR0cHM6Ly9hcHBzLmFwcGxlLmNvbS9hcHAvY29pbm1hcmtldGNhcC9pZDEyODIxMDcwOTg_bHM9MVcDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Google Play](~/AAQRxQA~/RgRpEE3zP0RQaHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS5jb2lubWFya2V0Y2FwLmFuZHJvaWQmaGw9ZW5fVVNXA3NwY0IKZyzzyC1nVOoKFlIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Twitter](~/AAQRxQA~/RgRpEE3zP0QyaHR0cHM6Ly90d2l0dGVyLmNvbS9Db2luTWFya2V0Q2FwP2xpZD1tYnQ2b3oxM2U5ZGZXA3NwY0IKZyzzyC1nVOoKFlIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Telegram](~/AAQRxQA~/RgRpEE3zP0QraHR0cHM6Ly90Lm1lL0NvaW5NYXJrZXRDYXA_bGlkPWh1ZTVrZzA5MjV0eVcDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Facebook](~/AAQRxQA~/RgRpEE3zP0Q3aHR0cHM6Ly93d3cuZmFjZWJvb2suY29tL0NvaW5NYXJrZXRDYXA_bGlkPTlvanpqdXQ4bmZnYlcDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Instagram](~/AAQRxQA~/RgRpEE3zP0Q5aHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9jb2lubWFya2V0Y2FwLz9saWQ9eGpudnJ6aGU3MGZxVwNzcGNCCmcs88gtZ1TqChZSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [LinkedIn](~/AAQRxQA~/RgRpEE3zP0RAaHR0cHM6Ly93d3cubGlua2VkaW4uY29tL2NvbXBhbnkvY29pbm1hcmtldGNhcC8_bGlkPXIxNWZvaWR5bms3M1cDc3BjQgpnLPPILWdU6goWUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) DISCLAIMER: Please be aware that CoinMarketCap is NOT a cryptocurrency exchange and does NOT facilitate the buying, selling, withdrawal or trading of crypto/token assets. 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