FameEX Morning Crypto News Recap | November 5, 2024

This Week's U.S. Election Results Poised to Influence Crypto Market Trends

QCP Capital observes that Polymarket odds, now closer to poll results, reflect a tightening race between Harris and Trump, with Trump’s odds decreasing from 66% to 55% in one week. Weekend trading saw reduced price fluctuations, and leveraged perpetual contract positions dropped from $30 billion to $26 billion, indicating a cautious market sentiment.

Even Spread of Bitcoin Options in October

According to Bloomberg and Derive.xyz, Bitcoin’s put and call options were evenly balanced in October. This even distribution suggests that speculators are preparing for price shifts in both directions as the U.S. elections near, highlighting uncertainty around Bitcoin’s short-term trend.

Marking 11 Years Since the Ethereum White Paper Was Released

November 4, 2024, marks 11 years since the release of Ethereum’s foundational white paper, first introduced by co-founder Vitalik Buterin in November 2013. This pivotal document established the framework for Ethereum’s growth and significant influence on the blockchain industry.

Michigan Pension Fund Makes $10 Million Investment in Ethereum ETF

Bloomberg’s senior ETF analyst Eric Balchunas revealed that Michigan’s state pension fund invested $10 million in an Ethereum ETF, exceeding its prior $7 million investment in a Bitcoin ETF. This increased allocation underscores the fund’s growing interest in digital assets, with a stronger focus on Ethereum.

Taiwan Set to Enforce Compliance Registration for Virtual Asset Service Providers in 2025

Huang Xihe, director of Taiwan’s Financial Supervisory Commission’s Securities Company Department, stated that virtual asset service providers must complete compliance registration under new regulations effective January 2025. This initiative seeks to strengthen oversight and elevate regulatory standards within Taiwan’s digital asset industry.

Deutsche Telekom Leverages Excess Energy for Bitcoin Mining

Deutsche Telekom, a leading European telecom company, plans to use surplus energy for Bitcoin mining, signaling its initial venture into crypto operations.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​