FameEX Morning Crypto News Recap | November 5, 2024

U.S. Election Results This Week Set to Shape Crypto Market Direction

QCP Capital notes that as Polymarket odds align with poll results, the race between Harris and Trump has intensified. Trump’s odds on Polymarket have dropped from 66% to 55% in a week. Weekend trading showed smaller price fluctuations, and leveraged perpetual contract positions across exchanges fell from $30 billion to $26 billion, signaling market caution.

Balanced Distribution of Bitcoin Options in October

Bloomberg reports that, according to Derive.xyz, Bitcoin's put and call options were evenly balanced in October. This distribution indicates that speculators are positioning for potential price movements in either direction as the U.S. elections approach, signaling market uncertainty about Bitcoin's near-term trend.

Celebrating 11 Years Since the Release of the Ethereum White Paper

November 4, 2024, celebrates the 11th anniversary of Ethereum’s foundational white paper, initially released by co-founder Vitalik Buterin in November 2013. This document laid the groundwork for Ethereum’s development and its impact on the blockchain industry.

Michigan Pension Fund Invests $10 Million in Ethereum ETF

Bloomberg’s senior ETF analyst Eric Balchunas disclosed that Michigan’s state pension fund has invested in an Ethereum ETF, allocating $10 million, surpassing its previous $7 million investment in a Bitcoin ETF. This move highlights the fund’s growing interest in digital assets, with Ethereum receiving a larger share of investment.

Taiwan to Introduce Compliance Registration Rules for Virtual Asset Service Providers in 2025

Huang Xihe, director of Taiwan’s Financial Supervisory Commission’s Securities Company Department, announced that virtual asset service providers must complete compliance registration under new regulations, set to take effect in January 2025. This move aims to enhance oversight and regulatory standards for Taiwan’s digital asset industry.

Deutsche Telekom Harnesses Surplus Energy for Bitcoin Mining

Deutsche Telekom, a major European telecom provider, is set to utilize surplus energy for Bitcoin mining, marking its entry 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.