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- Markets Surge on Trump Election Victory
Markets Surge on Trump Election Victory
📈 Crypto Rally Follows Trump Victory
Markets and Bitcoin Surge: U.S. markets closed significantly higher after Donald Trump’s election win over Kamala Harris. The Dow rose 3.5% to 43,729.93, S&P 500 up 2.5% at 5,929.04, and Nasdaq gained 2.9%. Bitcoin reached ~$76,000, a 9.8% increase and new all-time-high.
Crypto Stocks See Major Gains: Coinbase shares soared by 31%, along with gains in bitcoin miners like Cipher Mining and Riot Platforms, each up more than 30%. Coinbase's Chief Legal Officer Paul Grewal urged, "Stop suing crypto. Start talking to crypto. Initiate rulemaking now."
Record Overnight Trading Volume: Robinhood recorded its highest-ever overnight trading, with volumes 11x usual. BlackRock's IBIT ETF saw $1 billion in the first 20 minutes of trading, sparking "record-breaking volume day" predictions. All 11 Bitcoin ETFs rose over 8%. Read More.
️ On today's Top Picks:
- ⚖️ Binance & CZ file motion to dismiss US SEC lawsuit.
- 🏳️ France to ban Polymarket citing it is gambling.
- 👀 Wintermute proposes enabling fee switch for Ethena.
- 💱 JPMorgan's rebranded Kinexys to introduce onchain FX settlement.
Read time: ⏰ 6 minutes
Crypto News
• ⭐️ Cryptocurrency Market adds over $200b & Bitcoin reaches new all-time-high in reaction to US Presidential Election.
• Over 270 Pro-Crypto Candidates elected in the US elections; over 120 anti-crypto candidates elected.
• US Senator Cynthia Lummis posts "WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE.." on X.
• Spot Bitcoin ETF trading volumes surpass $6b; BlackRock's $IBIT volume surpasses $4b.
• ⭐️ Binance & former CEO CZ file motion to dismiss US SEC lawsuit.
• ⭐️ France to ban Polymarket citing Polymarket is gambling.
• Avalanche Foundation to buy back $52m of $AVAX from defunct Luna Foundation Guard.
• ⭐️ Wintermute Governance proposes enabling fee switch for Ethena $ENA.
Alpha
• Story Protocol posts "Tomorrow. ꧁It begins꧂.." on X; to launch "final phase" as previously mentioned.
• Arkham $ARKM to launch Arkham Perpetuals Exchange with Exchange Points program; trading begins in one week.
• Blackwing launches Blackwing Launchpad; create and/or trade tokens with liquidation-free leverage.
• Pirate Nation $PIRATE Season 2 ends next week; Season 3 to begin directly after.
• L2BEAT launches DABEAT, a platform to explore Data Availability layers.
• ICYMI Fluid DEX by mystri.
Airdrops
• Fuel Phase 2 Airdrop Strategy by Earndrop.
• HashKey releases $HSK WhitePaper; roadmap shows airdrop planned in Q4 2024.
• Swell to launch $SWELL Airdrop on November 7th at 09:00 AM UTC.
• Hyper Foundation reminds users the deadline to review & accept the Genesis Event Terms is November 11th.
• Sui Name Service to announce $NS TGE date soon.
• ICYMI DeBank Airdrop Strategy by Earndrop.
Finance News
• Donald Trump wins 2024 US Presidential Election; to take office January 20th, 2025.
• Microstrategy $MSTR & Coinbase $COIN surge in reaction to US Presidential Election.
• Bitcoin Mining Stocks surge in reaction to US Presidential Election.
• ⭐️ JPMorgan $JPM rebrands blockchain platform from Onyx to Kinexys; to introduce onchain FX settlement.
• US Stock Market adds over $1 Trillion in reaction to US Presidential Election.
• AMD $AMD outsells Intel $INTC in data center & AI space for the first time.
• Meta $META fined $15.67m in South Korea for sharing sensitive user data with advertisers.
Security and Exploits
• SlowMist Weekly Security Report highlights several incidents with over $20m in reported losses.
• Google releases Android November 2024 security update patching two actively exploited vulnerabilities.
• Google warns of actively exploited vulnerability in Android; flaw allows unauthorized access to several directories.
Token Unlocks
• EigenLayer $EIGEN / ~$4m / NOV 05th
• Cardano $ADA / ~$6m / NOV 06th
• Ethena $ENA / ~$6m / NOV 06th
• Neon $NEON / ~$22m / NOV 07th
• Xai $XAI / ~$8m / NOV 09th
• Bitget $BGB / ~$6m / NOV 10th
• Cardano $ADA / ~$7m / NOV 11th
• Aptos $APT / ~$108m / NOV 11th
• io[.]net $IO / ~$4m / NOV 11th
Sourced from Tokenomist
Funding
• Ususal raises $1.5m in community funding via Echo.
• Fragmetric raises an undisclosed amount in Builders funding.
• CoW DAO raises an undisclosed amount in funding from Greenfield Capital.
• Bion raises an undisclosed amount in funding from TON Ventures.
• Blum raises an undisclosed amount in funding from The Open Platform.
• Prosper raises an undisclosed amount in funding from Waterdrip Capital.
• Kroma raises an undisclosed amount in Strategic funding from ZKcandy.
• Phi raises an undisclosed amount in Strategic funding led by Neoclassic Capital.
• HackQuest raises an undisclosed amount in Strategic funding from KIP Protocol.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
PROTOCOL | ASSETS | APY |
---|---|---|
Uniswap V3 (Polygon) | USDCUSDC | 97.56% |
Curve DEX (Ethereum) | IDAIIUSDCIUSDT | 70.32% |
Pearl V2 (Re.al) | ARCUSDUSDC | 47.21% |
AAVE V3 (Ethereum) | USDC | 35.27% |
Merkle Trade (Aptos) | ZUSDC | 31.34% |
Indigo (Cardano) | IUSD | 29.33% |
Synthetix V3 (Base) | USDC | 29.03% |
Morpho Aave (Ethereum) | USDC | 25.34% |
🟢 Polynomial Superchain Is Live |
Trade 2.0: Polynomial recently introduced Trade 2.0, their flagship decentralized leverage trading platform offering gasless trading, cross-margin capabilities, and more. $BTC, $ETH, $SOL, $PEPE, $WIF, $SUI, and $AAVE markets are live with more markets coming soon!
Trading Points: Polynomial distributes 1,000,000 trading points daily! Allocation of trading points is based on factors such as trading volume, OI rebalancing, or [redacted].
Trading Fest🟢: From October 1st to December 31st, Polynomial will distribute 150,000 Optimism $OP tokens to traders on Polynomial trade. In addition, traders can earn other token rewards, a chance to win exclusive NFTs, and more surprises that will be shared soon.
That’s it for today’s edition! See you soon.
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