Animoca Brands co-founder Yat Siu said that the market's enthusiasm for the expected launch of a Bitcoin spot ETF has not only pushed up the price of Bitcoin, but also reignited people's enthusiasm for blockchain games. Yat Siu said: "Token value is a way to build confidence in users and utility. This is not just about making money, but also about feeling confident about what you own." Yat Siu explained that measuring the growth and confidence of the GameFi sector can be done by closely monitoring on-chain activities. In addition, Yat Siu believes that if a spot Bitcoin ETF product is approved, it will have incredible benefits for the entire industry, increase the legitimacy of the industry, and attract a large amount of new investment from traditional financial institutions.

Bitcoin mining service company Luxor said that its upcoming Bitcoin hash rate support product should not be compared to the failed products of BlockFi or Celsius because Luxor's product returns come from proof of work (PoW) and not from a "Ponzi scheme". Luxor's product allows investors to provide Bitcoin as collateral to Luxor to obtain a portion of the loan repayment, and then Luxor lends it to other miners for their operations; returns are generated when hash rate is "locked" by purchasing it at a discounted price from Bitcoin miners and selling it at a higher price. The Bitcoin rewards from mining come from that hash rate. Luxor expects investor returns to be between 10% and 13%. This process will be managed through Luxor's upcoming hash rate market. (Cointelegraph)

Robert Kiyosaki has predicted that Bitcoin's price is going to reach $100,000. Michael Saylor is aiming for $1 million. Is it a good time to start buying?

According to data from the Hong Kong Stock Exchange, as of November 2, 2023, the asset management scale of Southern Dongying Bitcoin Futures ETF (HK:3066) has risen above $50 million and is currently $50.79 million. In addition, the asset management scale of Southern Dongying's Ethereum Futures ETF (HK:3068) is $8.63 million.

According to BTC.com, there are currently 123,330 unconfirmed transactions on the Bitcoin network, with a total network hash rate of 472.96 EH/s and a 24-hour transaction rate of 8.30 transactions/s.

Data shows that 161.74 BTC have flowed into exchange wallets in the past 24 hours, 7523.60 BTC have flowed into exchange wallets in the past 7 days, and 4145.07 BTC have flowed into exchange wallets in the past 30 days. As of the time of publication, the total balance of exchange wallets is 1,834,433.38 BTC.

MicroStrategy CEO Michael Saylor stated that Bitcoin provides an innovative strategy for enterprises to preserve capital and create shareholder value. He pointed out that companies can use Bitcoin to leverage their balance sheets and break free from the destructive cycle of expensive acquisitions, buybacks, dividends, and debt to achieve this goal. Michael Saylor stated that a major dilemma in today's market is the existence of the "Big Seven." According to him, these seven companies are creating all shareholder returns, while the other seven thousand companies are struggling to create shareholder value. MicroStrategy's secret is that they are leveraging their balance sheet and profit and loss (PnL). He pointed out that his company has over $5 billion in assets on its balance sheet, and Bitcoin is growing at three to four times the cost of capital.

The ratio of open interest to market capitalization (OI/MC) for Bitcoin perpetual contracts is still close to its annual low. This indicates that the recent price increase is driven by spot trading volume and suggests that there is more organic demand rather than leverage-driven effects from derivatives.

In October, Bitcoin miner income and Ethereum staking income showed a general increase, with Bitcoin miner income rising to $885 million, an increase of 17.4%, and Ethereum staking income increasing by 8.6% to a range of $125 million. In addition, in October, the Ethereum network destroyed 41,348 ETH, worth about $70.3 million, and since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed about 3.67 million ETH, worth about $10.31 billion.

The number of Bitcoin nodes is rapidly increasing and currently stands at 16,128, approaching the 17 million mark. In April of this year, the number of Bitcoin nodes reached a historical high of 17,470 before declining, but it has gradually rebounded. Over the past two years, the number of Bitcoin nodes has increased by about 70%. During the bull market of 2021, the number of nodes remained around 10,000.