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According to Kaiko data reported the weekly trading volume of the top 50 altcoins (excluding stablecoins) has surged to over 300 billion US dollars for the first time since 2021. Among them, DOGE, XRP, SOL, and PEPE account for 60% of the total trading volume.
data shows that in 2024, Bitcoin and the Nasdaq index will only have a 52% correlation in the same direction, with a 30-day correlation dropping to 0.46, one of the lowest levels in the past five years. According to Fidelity data, the correlation between Bitcoin and the S&P 500 index is only 19%, making it the best performing asset class in terms of Sharpe ratio.
According to market data reported , BAN has surged to $0.4 per coin in the short term due to the news of Binance launching BANUSDT perpetual contracts. The current price is $0.3227, representing a 24-hour increase of 97.89%.
According to the latest weekly report from CoinShares, the inflow of funds into digital asset investment products increased by a further $2.2 billion last week, bringing the total inflow of funds since the first interest rate cut in September to $11.7 billion, and the total inflow of funds so far this year has reached a record-breaking $33.5 billion. Recent market activity, especially Bitcoin's breakthrough to a new historical high, has pushed the total asset under management (AuM) to a new high of $138 billion earlier this week. Ethereum seems to have shaken off negative sentiment, with inflows of $646 million (5% of AUM), possibly due to Justin Drake's Beam Chain network upgrade proposal and the recent US election. Solana also saw inflows of $24 million.
Tesla rose more than 5% in after-hours trading. Earlier reports stated that Trump may seek to relax restrictions on autonomous driving cars, and Musk is laying out plans for "fully autonomous" driving.
According to 8marketcap data, Solana's market value has reached $112.31 billion, surpassing Sony and Medtronic, and ranking 165th in the global asset market value rankings.
According to Paradigm researcher Dan Robinson's post on X regarding the "Uniswap postpones UNI staking and delegation reward voting scheduled for Friday" issue, he said, "It is disappointing that a large VC attempted to manipulate the token governance process at the last minute and delay community proposals to advance their own 'pet' project." Dan Robinson did not specify which VC it was.
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