Bitcoin reaches a new high this week, Decentralized Finance market welcomes new opportunities

1. Decentralized Finance Industry Observation

1. The new U.S. president supports cryptocurrency policies.

The newly elected President of the United States clearly stated during the campaign his support for cryptocurrency policies, allowing the use of Bitcoin and other cryptocurrencies for donations. He plans to strengthen support for Bitcoin and the crypto industry after taking office to ensure that the United States becomes a leading country in the crypto and Bitcoin fields and announced that the U.S. will retain all national Bitcoin reserves.

2. Bitcoin price breaks through the $90,000 mark

This week, Bitcoin performed strongly, briefly breaking through $90,000, setting a new historical high and once again refreshing its market cap ranking. Currently, Bitcoin's market cap has surpassed Meta, firmly ranking as the ninth largest asset globally. Analysts believe that the recent strong rebound of Bitcoin reflects an increase in market demand for crypto assets, and it is also due to the U.S. policy becoming more favorable towards cryptocurrencies, adding momentum to the subsequent price trends.

3. SynFutures launches the Perp Launchpad perpetual contract platform

With the expansion of the Base ecosystem, SynFutures has launched a new perpetual contract platform, Perp Launchpad, which lowers the entry barrier for the perpetual contract market with its unique "one-stop launcher" model. The platform attracts a large number of on-chain users, especially participants in the Restaking and Meme coin sectors, with a low Gas environment, deep incentives, and efficient liquidity management, and provides a convenient trading pair release channel for new tokens.

4. The UK pension fund makes its first direct investment in Bitcoin.

Recently, a UK pension fund made its first direct investment in Bitcoin, becoming the first of its kind in the country, with private keys managed by five independent institutions. With the assistance of a consulting firm, the fund allocated 3% of its assets to Bitcoin and plans to launch a Bitcoin employee benefit scheme. This marks a further expansion of pension fund investments in crypto assets, no longer limited to indirect methods such as ETFs.

5. The changes in EigenLayer's advisory team have sparked discussions.

Two members of the Ethereum Foundation announced their resignation from the EigenLayer advisory role, sparking discussions in the community about Ethereum's neutrality. Although Ethereum's founder often advocates for technological neutrality, balancing interests in a rapidly evolving ecosystem remains a significant challenge.

6. TON hamster game users plummet, tokens crash

The once-popular Telegram game "Hamster Strike" is facing severe challenges. Latest data shows that the game's monthly active users have sharply declined from 300 million to 41 million, and the price of the game's token has also dropped significantly in a short period. The development team plans to integrate NFTs in the second quarter, hoping to enhance user engagement.

7. Ethereum launches Mekong testnet in preparation for Pectra upgrade

The Ethereum development team has launched the Mekong testnet for the upcoming Pectra upgrade. This testnet aims to experiment with specific code changes and assess their impact on the network. The Pectra upgrade focuses on enhancing user experience and network efficiency, including improving the user experience of cryptocurrency wallets and increasing the maximum staking limit for validators.

8. Solv Protocol Leads Bitcoin Staking Standardization

Solv Protocol leads market standardization by launching the staking abstraction layer (SAL). SAL provides a unified technical framework for staking, addressing the challenges of decentralization and liquidity management in Bitcoin staking, allowing users to easily participate in cross-chain staking and earn rewards.

9. Innovation Exploration of UniFi Layer2 Solutions

Puffer Finance's UniFi Layer2 solution, centered around Based Rollup + native AVS verification system, has created a new generation of Layer2 architecture. This Rollup As A Service model, based on the functionality of the Ethereum mainnet, enhances the security and decentralization of Layer2.

10. The liquidity engine Aerodrome on Base chain is developing rapidly.

Aerodrome, as the main DEX on Base, addresses the challenges of traditional DEX in liquidity provision, fee distribution, and sustainable growth through innovative mechanisms. With the close collaboration between Base and Coinbase, the usage rate of Aerodrome has significantly increased, and its future development prospects are promising.

2. Decentralized Finance Data Dashboard

1. TVL Data: This week's TVL has not changed much compared to last week, remaining stable.

2. Stablecoin Issuance: The total market value of stablecoins is currently reported at $178.22 billion, with a 7-day increase of 3.04%.

3. DEX Data: Uniswap still maintains its leading position. The DEX on the Solana chain performed outstandingly, with an on-chain trading volume of 14.634 billion USD in the past 7 days, ranking first across all chains.

4. Token Unlocking Data: Aptos will unlock approximately 11.31 million tokens on November 11, accounting for 2.18% of the current circulating supply, valued at approximately $128 million.

3. Decentralized Finance Market Outlook

With Bitcoin reaching new highs, the market anticipates that capital overflow will drive other sectors. Currently, in the DeFi ecosystem, the issuance narrative of Meme assets is attracting much attention. The Meme frenzy on Solana has become the focal point of the entire market, and other public chains are beginning to follow suit. The Base chain, backed by Coinbase, has seen a continuous rise in net capital inflow, showing great potential for future development.

Recently, the largest contract DEX on Base, SynFutures, launched the Perp Launchpad to provide contract trading opportunities for low market cap projects, enhancing the liquidity of low market cap tokens and the utilization of on-chain funds. This could become a new hot track. Investors should pay attention to the native coins on the SynFutures Perp Launchpad, but should be aware of the high risks associated with Meme coins combined with contracts; effective risk management is crucial.