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Bitcoin ETFs are going to surpass gold ETFs at some point, according to Bloomberg Senior ETF Analyst Eric Balchunas.The only thing that could stand in their way would be some kind of black swan event, he said.
Major memecoins have sustained a 24-hour rally, with the Solana-based dogwifhat leading the charge.The total cryptocurrency market cap fell 0.2% over the past day, with bitcoin and ether posting downturns of 0.3% and 2.5% respectively.
Analysts at Bernstein have projected the overall crypto market cap could surge threefold to $7.5 trillion by the end of 2025.Growth will be led by the Bitcoin and Ethereum ecosystems amid “unprecedented” institutional adoption, the analysts said.
While Dencun’s fee reduction for L2s is a significant bonus, it’s not the main benefit of the upgrade, Fuel Labs’ Nick Dodson told Cointelegraph.
- 09:27Data: Four Smart Money Addresses Profit Over $1 Million Trading Meme Coins, Average Winning Ratio Over 50 PercentAccording to Lookonchain's on-chain analysis, it has identified four smart money addresses that have made over $1 million in profit by trading Meme coins. The address beginning with “DfMx” made 8,002 transactions and made a profit of $1.95 million, with a winning rate of 69.2%; the address beginning with “CWvd” made 1,246 transactions and made a profit of $1.94 million, with a winning rate of 56.9%; the address beginning with “ve94” made 3,919 transactions and made a profit of $1.82 million, with a winning rate of 55.81%; the address beginning with “5mtb” made 7,251 transactions and made a profit of $1.51 million, with a winning rate of 46.93%; and the address beginning with “5mtb” made 7,251 transactions. There were 7,251 transactions with a profit of $1.51 million, a winning rate of 46.93%.
- 09:26Meta meta-universe division loses $4.43 billion in Q3, cumulative loss exceeds $58 billionOn October 31st, Meta announced its Q3 financial results, in which the Reality Labs division reported an operating loss of $4.43 billion; revenue was $270 million, up 29% year-over-year. Meta's accumulated losses now exceed $58 billion. In addition, Meta's total revenue was $40.59 billion, up 19% year-over-year, and net income rose 35% year-over-year to $15.7 billion.
- 09:25QCP Capital Co-Founder: BlackRock's Entry Into Crypto Has More Impact Than US Presidential ElectionDarius Sit, co-founder and chief investment officer of Singapore-based crypto trading firm QCP Capital, believes that the entry of the world's largest asset manager BlackRock (BlackRock) into the crypto space has had a more significant impact than the U.S. presidential election, according to CoinDesk. Although the support of Republican candidate Donald Trump may bring short-term market volatility, Sit pointed out that BlackRock's Bitcoin ETF has brought cryptocurrencies into the mainstream investment arena. Sit said that when BlackRock CEO Larry Fink publicly stated on CNBC that Bitcoin is a “store of value”, it marked the beginning of the crypto space. When BlackRock CEO Larry Fink publicly stated on CNBC that Bitcoin is a “store of value,” it signaled the elevation of cryptocurrencies in the US investment market. In addition, Sit noted that despite Trump's promise to create a more crypto-friendly policy in his campaign, the growth potential of the global market remains to be seen. qcp has recently expanded its operations in Abu Dhabi, where regulators view digital assets as part of the capital markets, providing a stable market environment.
