- alpha unhashed
- Posts
- alpha un# weekly roundup
alpha un# weekly roundup
30th Oct to 6th Nov 2024
Market Commentary:
Bitcoin’s impressive upward trajectory continued, hitting a new high of $75,000 in response to Donald Trump’s election victory. The news has heightened market optimism, as many investors believe the incoming administration could bring more favorable crypto regulations. Prediction markets saw a record-breaking $4 billion in bets surrounding the election, with crypto whales playing a substantial role in driving prices upward.
Ethereum also saw gains, though it lagged behind Bitcoin, as the ETH/BTC trading pair touched multi-year lows. Institutional and whale investors have contributed significantly to the recent volatility, particularly as interest in Layer 2 solutions and alternative blockchain ecosystems grows.
Solana emerged as a standout performer, rising to $187 (+15.67%), with traders now setting a target of $200 amid renewed enthusiasm for altcoins. Other key altcoins also followed suit, reflecting a market rally driven by a combination of election results and optimistic sentiment for the crypto space.
DeFi Developments:
DeFi continues to evolve rapidly. Curve Finance and TON announced a new partnership aimed at furthering DeFi innovation, with 2025 pegged as “TON’s year of DeFi.” Meanwhile, Biconomy acquired Klaster to roll out a modular execution environment, which will simplify blockchain development and improve user experience. Polymarket, a decentralized prediction market, dominated with over $3.3 billion in election-related bets, underscoring DeFi’s role in mainstream events and speculative markets.
learning node:
alpha un# blogs:
disclaimer:
this newsletter is for informational purposes only and should not be considered financial or investment advice. The information provided does not constitute a recommendation to buy, sell, or hold any digital asset or engage in any specific DeFi strategy. always conduct your own research and consult with a qualified financial advisor before making any investment decisions. know more