Trump leads in most swing states Meme coin DMAGA rises over 100% in 5 minutes

Headlines

▌****Poll: Trump leads Harris in most swing states

According to RealClearPolitics, as of November 5th local time, Trump is leading Harris by 2.8 percentage points in Arizona, 1.3 percentage points in Georgia, 1.2 percentage points in North Carolina, 0.6 percentage points in Nevada, and 0.4 percentage points in Pennsylvania. Harris only has an advantage over Trump in two states - leading 0.5 percentage points in Michigan and 0.4 percentage points in Wisconsin.

▌**Meme coin DMAGA rises over 100% in 5 minutes

Musk posted on the X platform, ‘Dark MAGA gathers.’ According to GMGN monitoring, Solana on-chain Meme coin DMAGA rose over 100% in 5 minutes, with a market capitalization exceeding 18 million US dollars.

Market

As of press time, according to Coingecko data:

BTC recent transaction price is $69,385.82, with a daily change of +2.3%;

ETH recently traded at $2,424.83, with a daily change of +1.1%;

BNB recent transaction price is $563.53, with a daily change of +1.9%;

SOL recently traded at $166.84, with an intraday change of +5.4**%**;

The recent transaction price of DOGE is 0.1704 yuan, with a daily fluctuation of +7.4%;

XPR recently traded at $0.5142, with a daily change of +2.2%.

Policy

▌****Apple will face fines related to the Digital Markets Act for the first time in the European Union

According to sources, Apple is expected to face fines related to the Digital Markets Act (DMA) in the European Union for its anti-competitive practices in the App Store. The punishment stems from Apple’s failure to allow app developers to redirect users to make payments outside of the App Store. The fine could amount to 1.8 billion euros (equivalent to 2 billion dollars).

▌Musk plans to spend election night with Trump

Billionaire Elon Musk plans to spend election night with former President Donald Trump, watching the vote count. Musk will celebrate with Trump and a few others at the event in Mar-a-Lago. A super fan of Trump, Musk has spent over $119 million supporting his campaign.

Democrats are concerned that Musk may spread false information on social media X, affecting voters’ confidence in the election.

Block Applications

**▌****prediction marketKalshi tops the free app charts on the Apple App Store, with Polymarket coming in second

With the 2024 U.S. presidential election approaching, two prediction platforms have climbed to the top of the Apple App Store rankings.

According to the data from application analysis platform SensorTower, regulated prediction market platform Kalshi is currently ranked first in the Apple Finance category and also ranks first in the free applications. At the same time, Polymarket has risen to second place in the free applications ranking. This is the highest ranking for these two applications so far.

▌SynFutures launches the “Perp Launchpad” and a $1 million funding program

Decentralized derivatives startup SynFutures has launched ‘Perp Launchpad’, the first tool platform specifically designed to create perpetual futures markets, supporting futures trading of any asset, including meme coins. The platform is built on Base, a Layer 2 solution for Ethereum, aiming to provide market liquidity and risk hedging for new projects, as well as passive rewards for liquidity providers. SynFutures has also launched a $1 million funding program to support token demand and utility for new projects, including financial support, liquidity, and marketing assistance. Since expanding to Base in July, SynFutures has captured over half of the derivatives volume on the platform.

Cryptocurrency

▌****CryptoQuant: The selling pressure of BTC on this election day may be less than the high point in March and the same period in 2020

According to CryptoQuant, the amount of BTC flowing into centralized cryptocurrency exchanges today is significantly lower than on the previous US election day, which may indicate lower dumping pressure around the election activities.

CryptoQuant research director Julio Moreno said, “Compared to the last election and the beginning of 2024, the pressure of dumping BTC from traders and investors transferring funds to trading platforms seems to be smaller. Currently, the daily inflow of BTC to trading platforms is about 45,000 BTC, while the peak in March 2024 was 95,000 BTC, and before the 2020 US presidential election, it was 73,000 BTC.”

Moreno added that “BTC’s relative strength compared to AltCoins such as Ethereum indicates that investors prefer BTC to other assets, especially in uncertain market conditions.”

▌In the past 24 hours, over 1000 US election concept memes have been issued on Solana

According to data from Dextools, over 1000 US election concept memes have been issued on Solana in the past 24 hours. Over 40 tokens related to presidential candidate Donald Trump have been issued on the Ether blockchain.

The early political meme coins with increased volume include MAGA and KAMA, with Kamala Harris as the theme. MAGA was launched in August 2023, and its volume surged by 27% within 24 hours, with a market capitalization exceeding 150 million US dollars. KAMA rose by 150% on November 1st, and since then, it has dropped by 50%, with a market capitalization of 11 million US dollars.

▌CoinShares: MicroStrategy’s $4.2 billion BTC acquisition strategy carries certain risks

CoinShares stated in a research blog that MicroStrategy’s ambitious plan to purchase $42 billion worth of BTC (BTC) is not without risks.

CoinShares said that the success of MicroStrategy’s BTC acquisition plan depends on multiple factors. Analysts believe that the software company needs to “maintain favorable financing conditions and meet the demand for its convertible notes.” The cost of debt repayment is also rising. CoinShares points out that in 2021, MicroStrategy was able to raise debt through zero-coupon convertible bonds, but since the issuance of new bonds, these coupon interest rates have been rising. CoinShares said that the company’s “BTC business may have surpassed its software business” and added that cash flow from traditional business may not be sufficient to pay future interest payments.

******▌**********The ETH/BTC market value ratio has dropped to 24.52%, the lowest since April 2021

According to The Block data, the Market Cap ratio of ETH to BTC has dropped to 24.52%, the lowest level since April 2021, a significant decrease from 32.7% at the beginning of 2024.

It is reported that this indicator measures the relative market sentiment and capital flow between the two major assets of Cryptocurrency. This decline reflects the increasing dominance of BTC in terms of price performance and institutional interest, especially as investors continue to embrace Cryptocurrency through ETF products. TradFi company shows a clear preference for BTC, with IBIT and other BTCETF attracting a large amount of capital inflow, while interest in ETH ETF products is relatively smaller.

Important Economic Trends

▌****Trump Media & Technology Group (DJT.O) rose over 6.5% in after-hours trading

After Edison’s research on export and release of public opinion polls, Trump Media Technology Group (DJT.O) continued to rise after the US stock market closed, now rising more than 6.5%.

▌Indiana and Kentucky become the first states to finish voting in the presidential election

On November 5th, 18:00 Eastern Time (6th November, 7:00 Beijing Time), except for some congressional districts, voting stations in Indiana and Kentucky, the two earliest states to end voting in the 2024 US presidential election, were gradually closed and the vote counting began. November 5th is the official voting day for the US presidential election, but due to time zone differences and different state regulations, the closing time for voting in each state varies. Alaska is the state with the latest closing time, which is 1:00 Eastern Time on November 6th (14:00 Beijing Time on November 6th). Hawaii is the second to last state to end voting, with voting closing at 0:00 Eastern Time on November 6th (13:00 Beijing Time on November 6th).

▌CNN export poll: About three-quarters of voters have a negative view of the current situation in the United States

CNN’s exit poll shows that about three-quarters of voters in this year’s presidential election have a negative view of the current situation in the United States, with only about a quarter expressing satisfaction or excitement. Over 40% of voters are dissatisfied, and 30% are angry. However, more than 60% of voters believe that the best time for the United States is still in the future, while one-third believe it is already in the past. President Joe Biden’s approval rating is not high, with only about 40% of voters approving of his performance.

Golden Encyclopedia

▌What is Aptos Blockchain?

Aptos aims to be a fast, scalable, and reliable blockchain that supports Decentralized Application (DApp), aiming to accelerate the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It aims to achieve high throughput and low latency, which means it can process approximately 160,000 transactions per second and validate them in less than 1 second on average. Aptos technology natively integrates the Move language to provide these fast, secure transactions, allowing developers to write Smart Contracts and build DApps. Aptos provides everything needed to ‘Build Your Big Idea,’ even incorporating artificial intelligence, making it easy for Newbies and experts to use Web3.