At 8:00 AM UTC+8, Bitcoin was priced at $72,736, showing a 3.97% increase, while Ethereum stood at $2,638, up by 2.78%. The market's 24-hour long/short ratio in the futures market was almost balanced at 51.8% long versus 48.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 72 yesterday, indicating a "Greed" level and has increased to 77 today,  increasing the crypto market to Extreme Greed territory. 

1. Bitcoin briefly hit $73,620 before pulling back, coming just $150 short of its all-time high. Bitcoin reached a new peak against the Mexican Peso.

2. Total trading volume of U.S. spot Bitcoin ETFs surpassed $4.5 billion, with BlackRock's spot Bitcoin ETF trading volume reaching $3.3 billion, the highest in six months. 

3. The total market cap of Memecoins on Solana surpassed $12 billion, marking a new all-time high.

4. Alphabet's Q3 revenue and earnings per share exceeded expectations.

5. Circle plans to increase the exchange fee for the USDC stablecoin. Besides, Circle will jointly release a privacy ERC-20 framework in collaboration with Inco Network.

Crypto Fear & Greed Index | Source: Alternative.me 

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BTC/USDT price chart | Source: KuCoin

Bitcoin is poised for significant price action which suggests a "perfect storm" which may push it to a new all-time high soon. Several factors are aligning: uncertainty surrounding the upcoming U.S. presidential election, market optimism related to Donald Trump's potential victory, and historically bullish Q4 trends.

The potential influence of a Trump victory, combined with positive seasonality, could lead to strong gains for Bitcoin. Despite volatility driven by geopolitical unrest in the Middle East and macroeconomic challenges in the U.S., Bitcoin's price has rebounded sharply in recent weeks. Analysts see these conditions as creating a unique window of opportunity for the digital currency.

Currently, Bitcoin's price sits at $72,736, marking a 3.97% increase in the past 24 hours. This is the highest level in nearly five months, with many investors feeling confident about continued growth leading into the election.

Read more: Bitcoin Soars Past $62,000 Following Trump Assassination Attempt: The Trump Effect

SUI experienced a notable surge of 10% today, breaking through the $2 mark, signaling strong momentum in the Sui ecosystem. This bullish movement was accompanied by significant gains across other ecosystem tokens, highlighting broader investor confidence. 

DEEP led the way with a remarkable 30% increase, while MOVE followed closely with a 36% rise. NAVX also showed positive momentum, climbing 16%, and CETUS gained 10%, reflecting a comprehensive uptrend across the network. The synchronized rally in these tokens suggests growing enthusiasm and adoption within the Sui ecosystem, possibly driven by new developments, partnerships, or market sentiment favoring the project.

Read More: Top Sui Memecoins to Watch in 2024-25

Source: CryptoSlam

The start of the 2024-2025 NBA season has reignited interest in NBA Topshot NFTs, leading to the highest weekly sales in over six months. As the Boston Celtics and New York Knicks tipped off the new season on October 22, excitement spilled over into the NFT market.

Weekly sales for NBA Topshot NFTs reached 43,600 as of October 27, representing a significant 94% increase from the previous week. This spike comes after a period of stagnation, where sales dropped to an average of 26,000 NFTs during and after the playoffs.

The renewed activity highlights how key events like the start of a new sports season can have a tangible impact on NFT sales. With the current trend, analysts believe that NFT activity related to basketball will continue to rise throughout the season, driving both fan engagement and market activity.

Solayer’s sUSD minting diagram. Source: X

Solayer and OpenEden have launched a new yield-based stablecoin on the Solana blockchain, named sUSD, which is backed by U.S. Treasury bills. This stablecoin marks the first of several tokenized real-world assets (RWAs) that Solayer plans to offer, allowing users to access investment opportunities with as little as $5.

The sUSD operates as a request for quote (RFQ) marketplace, where users can deposit USD Coin (USDC) and receive sUSD tokens in return. The stablecoin aims to bring more accessible financial products to a broader audience by leveraging the power of tokenization.

Solayer has already facilitated nearly $300 million in restaked total value locked (TVL) on its platform. Experts predict that the market for tokenized RWAs could grow 50 times by 2030, representing a massive opportunity. The sUSD stablecoin seeks to capture early adopters interested in both blockchain technology and secure yield-bearing assets like U.S. Treasury bills.

Read more: Restaking on Solana (2024): The Comprehensive Guide

xAI is aiming to raise several billion dollars in an upcoming funding round that could push its valuation to $40 billion, representing a $16 billion increase from its $24 billion valuation after a $6 billion raise in the spring, according to the Journal. Though the funding discussions are still in early stages and could change or fall through, the potential growth reflects significant market interest in xAI. The company has yet to comment on the matter, as noted by Forbes.

Elon Musk's AI startup, xAI, is aiming to raise funds at a valuation of around $40 billion. The company recently held discussions with investors to support its next phase of growth. This follows an earlier valuation of $24 billion after a successful $6 billion fundraising round in the spring. xAI tries to keep up with increasingly higher valuations at rival companies such as OpenAI.

xAI raised funding from Andreessen Horowitz, Sequoia Capital, and Fidelity. The startup, known for its "Grok" chatbot on Musk's social platform X, plans to use the cash to launch its first products and speed up research. xAI is hiring for many roles, as seen on its careers page. Since the funding, xAI has grown rapidly, building a massive data center in Memphis this summer. The center runs 100,000 Nvidia chips at once, giving xAI unmatched computing power to train its AI model, according to Semafor.

As part of its growth strategy, xAI plans to double the number of graphics processing units (GPUs) at its Memphis data center—from 100,000 to 200,000. This expansion aims to improve xAI's computational power to support its advanced AI research and development efforts. NVIDIA's CEO has praised xAI for rapidly setting up the data center and scaling its operations in a short amount of time.

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Recent market shifts and project updates reveal exciting growth across various sectors of the blockchain and AI landscapes. Bitcoin's surge past $73,000 shows strong investor sentiment amid political uncertainties and seasonal bullish factors. The Sui ecosystem also saw impressive gains, with tokens like DEEP and MOVE leading the charge, showcasing rising enthusiasm. As the U.S. election approaches on November 5, we may expect increased volatility in the crypto market, creating unique opportunities for seasoned traders in options and futures. However, investors should remain vigilant during these volatile times and take necessary steps to mitigate risks.