Crypto Pulse——11/14 Market Trends and Hot Project Analysis

Preface:
Bitcoin and Ethereum have risen by 2.71% and 0.31% respectively in the past 24 hours, with current prices at $90,290 and $3,190, while the ETH/BTC ratio remains at 0.036. The Crypto Fear & Greed Index is at 84, indicating Extreme Greed.

Market Trending

Yesterday, Bitcoin broke through $93,000, setting a new all-time high! With Bitcoin surpassing $93,000, its market capitalization also rose to $1.84 trillion, overtaking Saudi Aramco to become the 7th largest global asset. The market rally was fueled by the October US CPI data, which met expectations and supported expectations of an interest rate cut. Additionally, according to CME “FedWatch,” the probability of the Federal Reserve keeping rates unchanged in December is 17.5%, while the probability of a 25 basis point rate cut is 82.5%. Potential rate cuts are expected to further stimulate the market.
Public Blockchain Sector: SUI and SOL, which led the recent public blockchain rally, have experienced slight pullbacks. As the DeFi ecosystem has calmed, Ethereum’s performance has weakened, with the ETH/BTC ratio dropping back to 0.036.
Meme Sector: Thanks to multiple promotions by Elon Musk, PNUT saw another massive surge yesterday, with a 280% increase within the day. The classic meme coin PEPE also saw a big rise, setting a new all-time high. Additionally, former President Trump announced the creation of a new U.S. government agency, the Department of Efficiency (D.O.G.E.), with the meme coin leader DOGE named after the agency, and Musk appointed as the department head. As a result, DOGE saw another significant surge, briefly surpassing $0.43.
Bitcoin Ecosystem Sector: Unlike the continuous rise in Bitcoin, the Rune and Inscription sectors within the Bitcoin ecosystem showed no significant movement. The leader in the Rune sector, DOG, experienced a sharp decline yesterday, while the Inscription sector saw widespread losses.

Spot Bitcoin ETF Flows

The U.S. Bitcoin spot ETF saw a net inflow of $514 million yesterday, with total trading volume surpassing $500 billion just 10 months after its launch. It is now competing with some of the world’s most established ETF products, including the Vanguard S&P 500 ETF (VOO) and Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100 Index. IBIT saw a net inflow of $230 million, FBTC a net inflow of $186 million, and ARKB a net inflow of $145 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is DOGE, with a 24-hour increase of 25.7%.
DOGE, or Dogecoin, was created on December 6, 2013, by programmers Billy Markus and Jackson Palmer as a joke inspired by the popular Doge meme featuring the Shiba Inu dog. Over time, Dogecoin has evolved into a community-driven cryptocurrency, popular in internet culture and charitable activities. The total supply of DOGE in its first year was 100 billion, with an annual increase of 5 billion, with no supply cap. Following Bitcoin’s recent new highs, DOGE’s price continues to rise, surpassing $0.36, with a 24-hour increase of 25.7%.
Check Out the Latest Prices, Charts, and Data of DOGE/USDT Spot and DOGEUSDT Perp!

The Word on the Street

US Senator John Thune Elected as Senate Majority Leader, Supports Crypto Legislation.
John Thune, a Republican Senator from South Dakota, has been elected as the Senate Majority Leader for 2025. Thune has previously been involved in pushing the Digital Commodities Consumer Protection Act (DCCPA), which aims to provide a legal definition for digital commodities and bring their trading under the oversight of the Commodity Futures Trading Commission (CFTC). Additionally, he has supported the repeal of accounting rules for crypto assets under SAB 121 and is advocating for crypto industry regulatory reforms. Thune has long been a supporter of cryptocurrency-related legislation and the legalization and regulation of the industry.

Project Funding

Zero Gravity Labs (0G Labs) is a startup focusing on the intersection of cryptocurrency and artificial intelligence, aiming to build the infrastructure for decentralized AI systems. The company has announced new funding of $290 million, including $40 million in seed round financing and a $250 million token purchase commitment. Investors include Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Animoca Brands, and its co-founder Yat Siu. The seed round financing uses a Simple Agreement for Future Equity (SAFE) structure, with a valuation cap exceeding $2 billion. Earlier this year, in March, 0G Labs raised $35 million in a pre-seed round, bringing its total funding commitments to $325 million.