Crypto Pulse——9/30 Market Trends and Hot Project Analysis

Preface:
In the past 24 hours, Bitcoin and Ether have dropped by 2.04% and 1.25%, respectively, with current prices at $64,433 and $2,617. The ETH/BTC rate remains at 0.04. The Crypto Fear & Greed Index stands at 61, indicating greed in the market.

Market Trending

Yesterday, the market experienced an initial rise followed by a decline, with Bitcoin breaking through the $66,110 high before retracing and falling below $65,000. Altcoins followed suit, experiencing a 5% drop across the board. This week brings key U.S. data releases:

• Tuesday: U.S. September ISM Manufacturing PMI,
• Wednesday: U.S. September ADP Employment,
• Thursday: U.S. Weekly Initial Jobless Claims (ending Sept. 28),
• Friday: U.S. September Non-Farm Payrolls and Unemployment Rate.

Additionally, Fed Chair Jerome Powell will speak at the National Association for Business Economics on Tuesday. These data points and the speech are expected to impact the markets, and investors should stay vigilant.
Public Chains: After a brief pause following last week’s surge, SUI is climbing again, with Sui’s TVL surpassing $1 billion; Meme Coins: The recently popular animal and Mars-themed Memecoins continue to attract market interest. TERMINUS has surged over 20%, and the lowercase Memecoin MOODENG is up more than 15%; “Bankruptcy” Tokens: Driven by FTX’s debt repayment plans, “bankruptcy” tokens are heating up, with FTT surging more than 80% in 24 hours.

Spot Bitcoin ETF Flows

On Friday, U.S. Bitcoin spot ETFs saw a net inflow of $494 million, including $203 million into ARKB, $123 million into FBTC, and $110 million into IBIT. U.S. Bitcoin spot ETFs have seen seven consecutive days of inflows, with Friday marking the largest single-day inflow since early June.
Meanwhile, U.S. Ethereum spot ETFs reported a net inflow of $58.65 million, including $42.54 million into FETH and $11.46 million into ETHA.

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Daily Spotlight

Today’s hot project is FTT, with a 24-hour surge of 82%.
FTX (FTT) is a cryptocurrency derivatives trading platform launched on May 8, 2019. FTX provides derivatives trading services such as futures, leveraged tokens, and OTC trading. FTT was issued on July 29, 2019, with a total supply of 350,000,000 FTT. In November 2022, FTX experienced a major collapse due to its complex financial ties with Alameda Research, raising concerns about its financial health. At the time, Alameda’s balance sheet revealed a heavy reliance on FTT tokens, causing market panic. With massive withdrawals, FTX faced a liquidity crisis and filed for bankruptcy on November 11, 2022. Recent news suggests that FTX will repay $11-16 billion to creditors by Q4 2024, causing a surge in “bankruptcy” tokens. FTT briefly hit $2.99, with an 82% increase in 24 hours.

Check Out the Latest Prices, Charts, and Data of FTT/USDT Spot and FTTUSDT Perp!

The Word on the Street

Elon Musk: If Trump isn’t re-elected, this will be the last democratic presidential election in the U.S.
On September 30, Musk posted on his social media platform, stating that very few Americans realize that if Trump doesn’t win, this will be the last democratic election.
He explained that if 1 in 20 illegal immigrants becomes a citizen each year, which is what the Democrats are pushing for as quickly as possible, there will be about 2 million new legal voters within four years. Swing state votes are often decided by margins of fewer than 20,000 votes. This means if the Democrats win, there will no longer be swing states.
Additionally, the Biden/Harris administration is flying “asylum seekers” directly to swing states like Pennsylvania, Ohio, Wisconsin, and Arizona to expedite their path to citizenship. This is a foolproof way to win every election. The U.S. will become a one-party state, and democracy will be over. The only “elections” left will be Democratic primaries. This has already been happening for years in California following the 1986 amnesty.

Project Funding

On September 30, Sonic Labs (formerly Fantom) announced that users can start earning approximately 200 million S airdrop points this week through Sonic Arcade. Sonic highlighted that no fees or cross-chain transfers are required to participate in this event.

Check Out the Latest Prices, Charts, and Data of FTM/USDT Spot and FTMUSDT Perp!