Matrixport released a research report stating that Bitcoin's market dominance continues to rise, now reaching 58%, indicating that the altcoin boom has not yet arrived.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
High-frequency intent execution layer aori announces partnership with full-chain Rollup network Initia
According to official news, high-frequency intent execution layer aori announced a partnership with the full-chain Rollup network Initia. The two will collaborate to establish an intertwined liquidity layer for atomic settlement, liquidity aggregation, and to create a more efficient market for thousands of application chains.
Previously, Initia announced the completion of a $14 million Series A funding round and a $2.5 million community funding round, with plans to launch the mainnet and TGE in the next two months.
Movement Labs announces support for ERC-3643 and joins the ERC3643 Association
According to official news, the core development team of the Move virtual machine public chain Movement Network, Movement Labs, announced support for ERC-3643 and joined the ERC3643 Association. This is reportedly the first expansion of the ERC-3643 standard beyond the Ethereum Virtual Machine (EVM) ecosystem to further meet market demands for high-throughput solutions and alternative programming paradigms.
It is reported that ERC-3643 is an identity-based permissioned token standard that has become an industry standard in the tokenization of real-world assets (RWA), adopted by institutions such as Citibank and Dutch Bank. Movement Network uses the Move programming language and can process over 160,000 transactions per second.
Matrixport: Bitcoin dominance rises to 58%, altcoin boom delayed
Matrixport released a research report stating that Bitcoin's market dominance continues to rise, now reaching 58%, indicating that the altcoin boom has not yet arrived. Although there are over 20,000 cryptocurrencies on the market, attention remains highly focused on Bitcoin. Bitcoin's dominance suggests that the inflow of ETF funds has not significantly impacted altcoins, while also indicating that retail investors have not yet entered the market on a large scale.
Bitcoin's trading volume has doubled from $10 billion to $20 billion in 2023, further highlighting the increasing influence of Bitcoin. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.
a16z founder: The birth of GOAT is the first true fusion of artificial intelligence and cryptocurrency
a16z founder Marc Andreessen discussed the origins of Truth Terminal and the creation process of the meme coin GOAT in a podcast. He described how the AI robot began promoting the GOAT meme and then created a meme token for it, which quickly grew in valuation to $500 million. Andreessen described this as the first true fusion of artificial intelligence and cryptocurrency.
Anthropic launches controllable AI agents capable of performing tasks in various software environments and the real-time internet
On October 23, according to Jin10 data, Amazon-backed AI startup Anthropic announced a significant breakthrough in the AI field: its developed AI agents can operate computers like humans to complete complex tasks. Anthropic's Claude is one of the chatbots similar to OpenAI's ChatGPT and Google's Gemini.
It is reported that this new feature is an upgrade to Claude 3.5 Sonnet, and the upgraded AI model possesses "computer usage capabilities," allowing it to interpret screen information, click buttons, input text, browse websites, and perform tasks in various software environments and the real-time internet.
US SEC approves multiple Bitcoin ETF options for trading, with a single-side position limit of 25,000 contracts
According to Crowdfund Insider, the U.S. Securities and Exchange Commission (SEC) has approved the listing of multiple Bitcoin ETF options products on the Cboe Exchange and NYSE American.
Cboe has been authorized to list options for the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB); NYSE American has been authorized to list options for Grayscale Bitcoin Trust ETF (GBTC), Grayscale Bitcoin Mini Trust (BTC), and Bitwise Bitcoin ETF (BITB). Previously, the SEC had already approved options trading for BlackRock's iShares Bitcoin Trust (IBIT).
Ethereum's balance ratio on centralized exchanges continues to be lower than Bitcoin's, indicating holders prefer self-custody
Analyst Leon Waidmann revealed that glassnode data shows Ethereum's balance ratio on centralized exchanges continues to be lower than Bitcoin's. As of October 18, 2024, Ethereum's balance on exchanges accounted for 10.415%, while Bitcoin's was 15.073%.
This trend indicates that compared to Bitcoin holders, Ethereum investors are more inclined to choose self-custody methods to safeguard their assets.
Moonshot 24-hour trading volume leaderboard: ACT, GNON, and SLOP take the top three spots
On October 23, according to Dune panel data, the Moonshot 24-hour meme coin trading volume leaderboard is as follows:
ACT: $145,600;
GNON: $134,100;
SLOP: $124,600;
SHOGG: $105,100;
GOAT: $94,100;
FARTC: $59,000;
FWOG: $32,900;
FLOYD: $16,400;
RBT: $10,900;
KIRI: $10,800.
Arkham: Tesla transferred $770 million in Bitcoin last week, possibly for internal wallet adjustments
On October 23, crypto analysis platform Arkham posted on X platform, suggesting that Tesla's Bitcoin transfer last week was an internal wallet adjustment, and these Bitcoins still belong to Tesla. Tesla transferred all 11,509 Bitcoins (approximately $776.9 million) to seven new wallets, each holding between 1,100 and 2,109.3 Bitcoins.
Arkham pointed out that all receiving wallets received test transactions, and except for one, the remaining wallets held whole Bitcoins. There is speculation that this transfer may be a move to a custodian, such as using Bitcoin as collateral for a loan.
Market Dynamics
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