Bitcoin faces $100,000 resistance, market focus shifts to Ethereum and other altcoins.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
Movement Network Foundation announces $MOVE tokenomics, 60% allocated to the community
The Movement Network Foundation, which focuses on the Move language infrastructure, has announced the tokenomics for its $MOVE token, with a total supply of 10 billion and an initial circulation of about 22%. A total of 60% will be allocated to the community, including the ecosystem and community, the foundation, and initial claims.
The specific allocation is as follows:
Ecosystem and Community: 40%
Initial Claims: 10%
Foundation: 10%
Early Contributors: 17.5%
Early Investors: 22.5%
The $MOVE tokens will be gradually unlocked over 60 months, and the team and investors will not be able to participate in staking initially.
The Movement Network Foundation stated that the $MOVE token will undergo TGE on the Ethereum mainnet. After the mainnet launch (coming soon), $MOVE holders can migrate cross-chain to the Movement Network. The gas fees on the Movement Network will be settled in $MOVE, and the use cases for the $MOVE token include: economic security staking, gas fees, governance and decentralization, and as the native asset of the Movement Network.
Pump.fun announces indefinite suspension of live streaming feature
According to DLNews, Pump.fun, the largest meme coin issuance platform in the Solana ecosystem, has announced an indefinite suspension of its live streaming feature. It is reported that the number of live streams on the platform surged 100 times in a week, with some meme coin creators engaging in inappropriate behavior to promote their tokens. Platform founder Alon stated that hundreds of violating videos have been deleted.
The official announcement stated: “Recent events during platform live streams have raised concerns. We are sorry to hear about some users' experiences and take this opportunity to address these issues openly and directly… To ensure the absolute safety of users, we will indefinitely suspend the live streaming feature on the site until the review infrastructure is ready to handle higher-level activities. In the future, we will publish guidelines to make the rules and regulations for site usage more transparent. We will also provide more visibility to creators and users regarding individual review decisions to ensure everyone understands the process and outcomes.”
Since its launch this year, Pump.fun has issued nearly 4 million meme coins, accounting for 83% of the total token issuance on Solana, with daily revenue exceeding $1 million.
Justin Sun invests $30 million in Trump family's crypto project WLFI, becoming its largest investor
TRON founder Justin Sun announced a $30 million investment in the Trump family's crypto project World Liberty Financial (WLFI), becoming the largest investor in the project. Justin Sun stated that with Trump's support for Bitcoin, the U.S. is becoming a center for the blockchain industry.
Tim Cook: I have personally held Bitcoin for three years, but Apple has no plans to incorporate cryptocurrency into its business model
According to CEO Today, Apple CEO Tim Cook revealed in a recent interview that he has personally held Bitcoin for three years as part of his diversified investments. However, Cook made it clear that this investment is a personal action and has nothing to do with Apple. Apple will not incorporate cryptocurrency into its business model in the near future or in the future, including payment systems or the company's investment portfolio.
Cook pointed out that Bitcoin's potential is worth noting, but Apple remains cautious about emerging technologies. Currently, Apple is focused on its core product lines such as smartphones, computers, wearable devices, and related services, rather than entering the highly volatile crypto market. At the same time, although Apple allows crypto wallets and blockchain-related applications on the App Store, it has no plans to further directly participate in the crypto ecosystem.
SynFutures announces the establishment of a foundation and the launch of token F, with TGE and airdrop coming soon
SynFutures announced the establishment of the SynFutures Foundation and the launch of its native token F, with details of the airdrop and TGE date to be announced soon. The SynFutures Foundation will focus on promoting the long-term development of the protocol and achieving joint decision-making through community governance proposals. The F token will be allocated to the community, early supporters and advisors, the foundation treasury, core contributors, protocol development, and liquidity support. In addition to governance voting rights, holders will also enjoy benefits such as fee rebates, staking rewards, and enhanced second-quarter airdrop rewards.
MicroStrategy increases its holdings by 55,500 BTC in the past week
MicroStrategy founder Michael Saylor posted on social media that MicroStrategy has increased its holdings by 55,500 Bitcoin at an average price of approximately $97,862, with a total value of about $5.4 billion.
QCP: Bitcoin faces $100,000 resistance, market focus shifts to Ethereum and other altcoins
According to the latest report released by QCP, the crypto market fell yesterday, with over $100 million in BTC and ETH positions liquidated across major exchanges, but both remain robust above key support levels of $95,000 and $3,200, respectively.
Despite a pullback over the weekend, the forward volatility remains high. The market expects BTC to maintain a range-bound movement before December, while the short-term focus shifts to ETH. The ETH risk reversal indicator shows high demand for short-term call options, while the demand for BTC call options is concentrated after December 27, 2024, potentially related to the impact of Trump's supportive policies on cryptocurrency, which are expected to take effect next year.
Recently, BTC's market cap share has dropped from 62% to 59%, reflecting a trend of funds gradually shifting from BTC to ETH and other altcoins.
Former Grayscale CEO and OpenAI Chief Product Officer join Aptos Labs Advisory Board
According to The Block, blockchain company Aptos Labs announced that former Grayscale CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil have joined its advisory board.
Sonnenshein will leverage his analyst experience at traditional financial institutions (such as Barclays, Bank of America, and JPMorgan) and his decade-long leadership at Grayscale to help Aptos promote the institutional adoption of digital assets. Weil plans to utilize his expertise in artificial intelligence to assist Aptos in integrating AI technology into blockchain applications.
Pump Science: URO and RIF are the only official tokens
Pump Science posted on X stating, “URO and RIF are the only tokens launched by our team, and any new tokens will be announced here first.”
Market Dynamics
Recommended Reading
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Interview with Arthur Hayes: Cash out when it's time, Bitcoin will reach $250,000 by the end of 2025
According to the interview, Arthur Hayes expects that the election of the Trump administration will lead to a depreciation of the dollar, thereby driving up the prices of Bitcoin and other crypto assets. He believes Bitcoin could reach the milestone of $250,000 by the end of 2025. He also shares advice for investors to remain rational and cash out at the right time during a bull market. Additionally, he discusses the rapid rise of meme coins and the development trends in emerging fields such as GameFi.
This article discusses the investment value of Bitcoin assets, MicroStrategy's Bitcoin holding strategy, and the impact of Bitcoin on global wealth distribution and personal investment. The article highlights the views and experiences of MicroStrategy founder Michael Saylor and analyzes the long-term growth prospects of Bitcoin.
Meme coins occupy half of Solana's trading volume, a cold reflection amid a hot market
Memecoins currently account for a high proportion of trading volume on platforms such as Solana, BNB, and Base, reaching about 50%, 45%, and 25%, respectively.
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