Coinedition
Truth Terminal, an AI, reached a $3.9 million valuation on October 24. Tokens like GOAT, Fartcoin, and Shoggoth drove the portfolio’s growth. Funded by a $50,000 Bitcoin investment, the AI achieved millionaire status within months.
Fink foresees a 25-basis-point Fed rate cut by 2024 amid sustained inflation pressures. The November 6 FOMC meeting, post-U.S. election, may drive pivotal rate-cut decisions. Fed plans three rate cuts in 2024, targeting inflation decline after a 22-year peak.
Solana’s meme coin market hits a record $12.2 billion, rising 7.3% in one day. Leading Solana meme coins like $WIF and $POPCAT see high trading volumes and price gains. Investor interest in Solana meme coins grows, driving significant market cap increases.
Bitcoin perpetual futures open interest returns to $16 billion, but funding rates remain moderate. The figure coincides with Bitcoin reaching $71,400 today, led by Binance traders. Short-term holder SOPR metric shows controlled profit-taking at 1.017, below the overheating level.
Institutional investors show growing interest, pushing crypto markets toward new heights. Blockchain upgrades improve speed, efficiency, and scalability, boosting crypto’s utility. Favorable global economic conditions could lead investors to seek value in digital assets.
Shiba Inu (SHIB) surged past Avalanche (AVAX) to claim the 12th spot on CoinMarketCap, driven by an 8.75% price increase and a 157.08% spike in trading volume. SHIB’s upward momentum faces potential resistance at $0.00001910, while technical indicators like the RSI and MACD suggest a possible correction. Avalanche (AVAX) shows steady growth, with support at $25.74 and resistance at $26.75. AVAX’s RSI indicates a neutral outlook, contrasting with SHIB’s overbought status.
Meme Coins lead crypto gains, rising 219% YTD, driven by strong community appeal. AI and BRC-20 projects soar 217% YTD, showcasing demand for innovation in blockchain. SocialFi struggles with 57% drop YTD, hinting at adoption and monetization challenges.
Crypto industry donations surpass $200M, highlighting its growing impact on the 2024 U.S. presidential election campaigns. Donald Trump leads in crypto-backed donations, receiving substantial contributions from key industry figures and investors. Kamala Harris secures notable crypto funding, with Chris Larsen’s $11.7M donation showcasing strong industry support for her campaign.
