The Block
Quick Take Standard Chartered’s Geoff Kendrick has forecast that the global cryptocurrency market cap could reach $10 trillion by the end of 2026, a 300% increase, if Republicans secure control of both chambers of the U.S. Congress.
Quick Take Stablecoin issuer Tether has entered the oil market, placing a $45 million trade. The company registered over $7 billion in profits in the first three quarters of 2024.
Quick Take Coinbase analysts are optimistic about the cryptocurrency market heading into 2025, citing a supportive macro environment driven by Trump’s economic policy and a potentially friendlier regulatory environment. They also highlighted that memecoin trading has become the third most profitable crypto sector, significantly contributing to Solana network fee generation.
Quick Take Pharos has raised $8 million in seed funding, led by Lightspeed Faction and Hack VC. The startup is building a new Layer 1 blockchain tailored to fintech use cases, such as real-time payments and real-world assets.
Quick Take U.S. spot bitcoin ETFs hit a record daily net inflow of nearly $1.4 billion on Thursday, eclipsing the prior peak of just over $1 billion set on March 12. The Ethereum Foundation’s financial report revealed it holds $970 million in assets, with $788.7 million in cryptocurrencies, 99.5% of which is in ether, as of Oct 31. Binance Labs ventured into the decentralized science (DeSci) sector with an undisclosed investment in BIO Protocol, aiming to transform how early-stage scientific research is fi
Quick Take The SEC has delayed its decisions on whether to approve the NYSE’s request to list options on spot Ethereum ETFs. The agency was scheduled to make a decision by Monday, Nov. 11.
Quick Take Around the time VanEck CEO Jan Van Eck was predicting bitcoin would hit a new all-time high, BTC temporarily surpassed $77,000 for the first time ever. Van Eck said he thinks bitcoin will go to to $300,000.
Quick Take Open interest on Polymarket soared to $510.95 million by Nov. 5 and subsequently fell to $184.16 million by Nov. 8, The Block’s data shows.
Quick Take Polymarket is said to be teasing users with an airdrop, though the platform hasn’t confirmed token launch plans yet. The platform previously considered launching its own token but had no guarantees as of September.
Quick Take On Thursday, the spot bitcoin ETFs in the U.S. saw daily net outflows of $680 million as bitcoin dipped below the $100,000 level. Fidelity’s FBTC led the negative flows yesterday, with $208.6 million in outflows.
