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Today's information gap will help you break through the blockchain information barriers and win at the starting line.
1. Web3 data analysis infrastructure Dune announced the launch of DuneAI, which allows users to ask questions in any language using its natural language engine and obtain encrypted data insights without knowing SQL.
2. Market data shows that BRC-20 sats rose 54% in 24 hours, reaching a record high. The current price is 0.000000046 USDT, with a total supply of 2,100,000,000,000,000 pieces and a market value of nearly 100 million US dollars.
3. MetaMask announced on the X platform that it has launched a privacy protection security alert function. The latest function can simulate transactions and signatures directly in the wallet to alert malicious requests. Users can turn it on in "Settings-Experimental Functions".
4. Jupiter, the Solana ecological transaction aggregator, announced the launch of governance tokens, which will be airdropped to 995,000 addresses, mainly for users who have continued to use them in the past two years.
5. ProShares announced on Thursday that it is launching the first ETF that allows investors to be bearish on Ethereum. The ProShares short Ethereum strategy is designed to provide the opposite daily performance of the S&P CME Ethereum Futures Index. If the index falls 1%, the ETF will earn a 1% return. Like other cryptocurrency ETFs, the new product is tied to Ethereum’s futures contracts rather than the spot price.
6. Sean Thornton, an employee of the security company Match System, said that SafeMoon’s attackers mixed coins through CEX, which may help to identify their identity. The smart contract vulnerability exploited by the attack did not exist in previous versions and appeared in a new update on March 28, the day it was attacked, leading many to believe that an insider was involved. Today, the founders and executives of SafeMoon were charged by the SEC with participating in a multi-million dollar international fraud scheme. Thornton said that the SEC's charges were not unfounded, and they also found evidence that may indicate that SafeMoon management was involved in the hacking attacks that occurred.
7. Gary Black, a former Goldman Sachs executive, posted on the X platform that the equity value of , meager fee income increased (+$1 billion), expenses were significantly reduced (-$2 billion), and there was another $1.2 billion in new interest expense related to $13 billion of LBO debt. Gary Black said that after interest expenses are included, Platform X may still lose $1 billion a year.But 2024 will bring huge favorable conditions, including the 2024 Olympic Games and presidential election.
8. Crypto service provider Matrixport predicts that the price of Bitcoin is expected to rise to $56,000 by the end of this year. Markus Thielen, head of research and strategy at Matrixport, said in a note to clients on Thursday: “If Bitcoin rises by at least 100% so far this year, there is a 71% chance that Bitcoin will end the year higher, with an average year-end gain of 65%. "Since Bitcoin tends to peak on December 18, we can call the six to seven weeks from early November to mid-December Bitcoin's Santa Claus rally." (CoinDesk)
9. According to Paidun’s monitoring, the address marked “FTX Cold Storage #2” once again transferred 250,000 SOL to Binance. Earlier today, it was reported that the address marked FTX has received approximately 1.81 million MATIC (approximately $1.15 million) from Polygon’s staking contract. In addition, the address withdrew approximately 1.6 million SOL from staking and transferred approximately 500,000 SOL (approximately $20.7 million), of which approximately 250,000 SOL was sent to Binance.
10. According to Reuters, payment giant PayPal said on Thursday that it had received a subpoena from the U.S. Securities and Exchange Commission (SEC) related to its U.S. dollar stable currency PayPal USD (PYUSD). The company launched its stablecoin in August, becoming the first major fintech company to adopt the digital currency for payments and transfers.
11.dForce announced on the X platform that the governance proposal DIP058 has been passed and the dForce Lending brand will be renamed Unitus.

Why is Sol so successful?
Solana’s token SOL has risen by more than 24% in the past 24 hours, reaching a maximum of $45. It is worth mentioning that SOL has risen nearly 80% in the past 30 days, leading the recent gains.
Analysts believe that it is obvious that SOL’s current rise is a typical short squeeze (note: also known as short squeeze and short squeeze, which mainly occurs due to market supply and demand rather than changes in fundamentals). However, one voice that promotes the rise of SOL believes that Solana rises because it is as good as the Ethereum blockchain and can even replace Ethereum.
Due to the deep binding between FTX and Solana, Solana was particularly hard hit by the FTX crash. FTX has invested in both Solana and many projects built on top of Solana. For example, FTX co-created Serum, a now-defunct DeFi protocol, with the Solana Foundation. In its heyday, Serum was the backbone of Solana’s ecological DeFi.
The Solana Foundation also holds millions of dollars worth of FTX shares and FTT tokens. When FTX fell, Solana suffered losses in two ways: first, the size of the treasury assets shrank, and second, the SOL held by FTX had been handed over to the liquidator, and SOL faced market selling pressure. With the rise of SOL, the value of crypto assets held by FTX has increased by nearly US$1 billion.
However, due to the continuous support of developers (the number of developers grows by more than 40% every year) and more and more Solana believers refuse to close the protocol. The debate over Solana competing with Ethereum has become one of the most heated topics discussed in the crypto community today.
Essentially, Solana’s backers say its technology is faster, more scalable, and cheaper to use than the Ethereum blockchain.
SOL leads gains against BTC, ahead of ETH
Bitcoin is the crypto market leader, and because of this, traders often measure the coin’s price in terms of Bitcoin rather than USD, reasoning that if it can’t rise beyond Bitcoin, then it’s better to put your money in Bitcoin.
Recently, the price action of SOL/BTC has been far more attractive than that of ETH/BTC. In fact, many have noticed that ETH prices are weak compared to BTC.
Traders and speculators are also potentially hinting that Ethereum’s past is Solana’s future, because ETH’s past and SOL’s present are very similar.
From April 2020 to November 2021, the price of Ethereum increased from $100 to $4,700.This comes after ETH experienced its first bear market cycle. During this time, many believed that ETH would disappear like most ICO projects at the time.
But they were wrong. Developers flocked to the Ethereum blockchain, launching tokens and protocols that maintained market attention and transaction volume throughout the bear market. ETH is performing stronger than ever and is one of the best-performing coins in the 2020-2021 bull market.
A similar situation is now being seen in Solana. Because Solana has a very close relationship with FTX, many people believed that Solana had passed its peak after the collapse of FTX. NFT project DeGods even left Solana and moved to the Ethereum network.
Still, developers continue to build and deploy products on Solana, and its resilience has caught the attention of investors as a potential short squeeze.
Patrick Felder, founder and CIO of Prismatic Capital, explained: “All factors were sufficient to cause SOL to surge higher. Everyone has either shorted SOL or discussed doing so after FTX Clearing announced the timetable for selling the assets. ” Patrick Felder invests primarily in ETH, but is increasingly putting money into SOL.
Patrick Felder said that all these shorts created a market imbalance that was exploited by SOL believers. “Things are moving so fast in terms of price. Solana has a believer-like community, so there are a lot of people accumulating SOL for the next bull run. This is a classic short squeeze.”
The Solana developer community is still growing
A key factor in Solana's resistance to short sellers is the fanatical developer community, which not only did not defect after FTX, but continued to grow. At least according to data from European venture capital firm RockwayX, which invested in Solana, the number of developers on the Solana chain actually surged by 83%. Even Ethereum co-founder Vitalik Buterin has publicly expressed support for the Solana developer community.
The number of people developing on Layer 1 blockchain is a key metric. In the crypto space, developers are generally not required to be paid for building on the blockchain, but Solana had to. Because developers don’t know whether the blockchain can continue to operate, and they also have to take the risk of learning the specific development language of the Solana blockchain.
According to the Electric Capitals developer report, Solana currently has nearly 1,000 full-time developers; by comparison, Ethereum has nearly 6,000.
Likewise, Solana’s market capitalization is only 8% of Ethereum’s market capitalization, so Solana still has a long way to go to achieve long-term success. Despite the short squeeze, FTX is not out of the woods yet. Solana also needs to handle the liquidation of FTX assets. FTX’s legacy currently holds $120 million worth of SOL. As the bankruptcy proceeds, these assets will undoubtedly be liquidated.
But those who are optimistic about Solana say that once this problem is resolved, Solana's situation will improve.

Bitcoin has bounced off its local bottom since mid-April, and with the spot BTC ETF on the verge of approval, CryptoTwitter is ecstatic!
Crypto investment company Galaxy released a report indicating bullish market expectations for the spot BTC ETF, predicting that approval will generate $14B of Bitcoin buying pressure and should send BTC prices soaring by 74% in the first year after launch!
But while the brave souls remaining in the crypto space have positioned themselves for new highs, it will take outside capital to get us there, and merely approving a spot BTC ETF is no guarantee that the funds will follow.
Despite the widespread belief that institutions and investment advisors are awaiting the arrival of spot ETFs to unleash a tsunami of capital into cryptocurrencies, there appears to be little evidence to support this scenario, with Canadian spot BTC ETF AUM showing little change since March 2022.
Cryptocurrency remains a zero-sum game, with assets competing for limited available dollars. The pump is simply the result of internal capital rotation. After the spot BTCETF is approved, there is no evidence that capital will flow into the industry!
High-profile coins such as BTC, LINK, and SOL have been able to earn gains due to extremely thin liquidity, which has allowed small amounts of buying pressure to cause massive moves, but the broader market has lagged behind the leaders. This suggests that the rally was led by the outperformance of a specific number of assets and points to a lack of breadth in the crypto market.
Source: TradingView
Just as the market has shifted from apathy to exuberance over the past month, sentiment will shift in the opposite direction in a nanosecond. While the recent rally is exciting, it's time to temper your expectations and remind yourself that we're still deep in the macro forest.
Federal Reserve Chairman Jerome Powell remains steadfast in his commitment to returning inflation to the Fed's long-term inflation target of 2%, a feat achieved by raising interest rates. At the same time, the U.S. deficit is ballooning and major U.S. treasuries, such as China and Japan, are selling off dollar assets to defend struggling local currencies, putting further upward pressure on yields.
The Bank of Japan announced yesterday that it would modify its yield curve control policy to allow Japan's long-term government debt interest rates to exceed the previous 1% ceiling, suggesting that interest rates may need to continue to rise.
Crypto projects are long-term investments, and “longer-term higher” interest rates could cause liquidity to evaporate from risky markets, such as cryptocurrencies and stocks, further depressing valuations.
The only option for further interest rate increases is an economic collapse, and monetary policymakers respond by cutting interest rates. While the global economy has shown resilience during previous rate hikes, cracks are starting to appear in the system, which could drag down the prices of risk assets.
Consumer spending is funded by growing debt levels, but high interest rates are causing credit card delinquencies to skyrocket and driving car loan defaults to new highs! While the stimulus delayed the inevitable end of the business cycle, it led to inflation, and the remedy - higher interest rates - left many borrowers unable to make their payments.
Meanwhile, real disposable personal income has been falling since May, leaving consumers without money to pay down their growing debt burdens. This suggests that further increases in arrears and defaults can be expected, which will lead to further reductions in spending levels, which will force businesses to lay off workers, causing the economy to shrink further.
Source: FRED
While the era of fast and easy money helped cryptocurrencies hit all-time highs in 2021, the post-COVID credit bubble is threatening to burst and investors will need to scramble for dollars; the resulting deflationary depression will almost certainly derail crypto Investment is under pressure.
The only asset with a chance of surviving the surge is Bitcoin, which could serve as a potential hedge against currency devaluation if central banks engage in another round of quantitative easing to contain the crisis; however, it will still be relevant in times of deflation. dollar competition.
While a healthy dose of FOMO in a low-liquidity environment is enough to cause a short squeeze to send cryptocurrencies temporarily higher, rates will continue to rise until things start to break, and when they do, unemployment rises and Further declines in revenue will force long-term holders to capitulate and sell their bags.
In a "secular higher" or deflationary depression scenario, almost no asset stands a chance against the US dollar.

Through the analysis of yesterday's market, I think the trend of the market is still very strong, and it is already at the upper edge of the flag pattern. There should have been a step back yesterday, but because of the rebound of the US stock market yesterday, I did not step back in place and went straight up. , and many copycats have begun to launch. As for the Federal Reserve interest rate decision on November 2, my personal opinion is that it will not be added.
Then let’s look at today’s market trend. Judging from today’s chart, it is a triangle shock, but the trend is still strong. After the shock is over, there should be another upward trend. Even if it goes back, it is recommended to go long near 33900. ETH is about the same as BTC, but it is not recommended to chase long immediately. Wait for it to step back and then chase or break through before entering the market. Then there are the suggestions for copycats. As I said before, the copycat season has begun. Everyone should try not to go short. If you still don’t know which coins to buy, you can read my recent article, which introduces several strong coins. species, with great development space and potential.

There has been a lot of AI-related news recently. There will be an AI conference on the 6th of next month, the first conference hosted by OpenAI. I personally speculate that the market will take advantage of this opportunity to pull up the market. I suggest everyone pay more attention to some AI concept coins. .
Here are statistics on the market value of several popular AI concept coins. Welcome to add more.
The market capitalization from large to small is wld, rndr, agix, fet, ocean, nmr, rlc, iq
It should be noted that wld is not very sure at the moment, because there are now millions of dollars of selling orders being released every day, but it may not necessarily be a hit, it depends on the banker's mood.
Brother Zheng is still very optimistic about the AI ​​sector. You can build positions on the few coins mentioned above, and there should be good feedback.
As for the market, it is still in a volatile stage, so it is not recommended to buy it immediately. Just pay attention to the two nodes I mentioned before, and do not enter the market rashly. #ai

Today’s cottage recommendations:
$ZEN used to be a privacy coin. The future plan is to develop into a public chain. This week it just reached the mid-term long position. The current price is 8.92. The market value is not high, but there is still a lot of room for growth. The suggestion is Continue to hold.
Reasons for holding positions:
1. Grayscale currently holds a large amount of ZEN positions. The final verdict of the SEC victory may be announced this Friday, or at the latest next Monday. Winning the lawsuit is good news, which is also conducive to the rise of ZEN.
2. The ZEN plan is to launch counterfeit nodes. If you want to become a node, you need to pledge ZEN. This plan increases the usage scenarios of ZEN and its token empowerment.
3. The beta version of ZEN’s EON mainnet has been released. EON is compatible with EVM, and the launch of the mainnet is also a potential benefit.
Therefore, based on the above three points, ZEN's upside potential is still huge.

[Broad Market Analysis] The recent fluctuations have been much greater than in the previous period. Bitcoin had a false breakout at the end of the consolidation triangle. You can also see that there are many people chasing shorts here, and the price has risen again. The bears became the fuel. Which positions will you focus on next? At the low point, focus on 32500. If there is a breakout, you can go long. If the high point is 35300, if there is a false breakthrough, you can open a short position. However, if you do not turn around after breaking through 35300 all the way up, pay attention to the false breakthrough at 36800. However, the current market fomo sentiment is still not in place, so don’t go short. The exchange rate of Ethereum relative to Bitcoin has increased, and you can pay attention to stagflation copycats.
[Copycat Suggestion] Build a position in magic0.6 at the current price. It has been in the market for a long time. The arb ecological token is waiting for Ethereum to rise to drive L2 related projects.
[Opinion Interpretation] What is the reason why Fomo has not been formed recently? Many big V think that the current environment is not good and it is difficult for the currency circle to rise. There is a misunderstanding here. If the banker needs to make money, he needs to pull the market. It is best not to maintain a consolidated state or fall. There is no FOMO sentiment, retail investors have not entered the market, and it is difficult for bankers to harvest. Therefore, a bad general environment does not mean that there is no opportunity for the currency circle to rise. On the contrary, it is easy to jump up and down, and harvest back and forth, which is a monkey market.

Here are some of my current views:
<span Regarding the rebound short that I emphasized, there is a rebound first and then there is a short. This is what I have emphasized many times. The current strong rebound is indeed beyond my expectation. The first half is ongoing, while the second half of the short needs to wait for opportunities. Don’t Blind and empty.
The bull market started after the production reduction, and it is still early. There must be a drop before the production reduction, which does not affect my search for high short positions!
<span Regarding the cup drop, don’t be anxious. There will be opportunities. Timing is very important. You can only drop the cup once. If there is a big drop before the production reduction, you will drop the cup decisively. I believe there will be an opportunity, don’t worry!
<span The current rise is obviously stimulated by the news. The ETF has not yet passed. Even if it does pass, it will be a long-term positive. It is difficult to have a large amount of capital inflow in the short term. What is replenished is only confidence. This kind of news stimulus is difficult to sustain. On the contrary, it will Overdraft short-term potential!
<span I am more willing to believe that the current situation is stimulated by the news + a preview of the production reduction market. Everyone knows that the market usually starts to be hyped half a year before the production reduction, and it is almost over now. If so, it can continue, just watch as you go!
Overall: The short position in the morning is basically dead. The long-short ratio is very different, which is a bit of a bull mood. In this case, if you are in the car, lie down. If not, the best thing to do is not to be blind. Chasing the rise, watch more and move less, unless you can take the long term...