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  • Crypto Alpha - 11 November 2024

Crypto Alpha - 11 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Solana Joins the Big Leagues, Breaks into Top 200 Global Assets

  • Crypto Market Cap Smashes Through $2.9 Trillion

  • MicroStrategy’s Bitcoin Stash Hits $20 Billion in Value

  • Bitcoin Smashes Past $81,000 Once More

  • BlackRock’s Bitcoin ETF Outpaces Its Gold ETF

  • Fed Rate Cut Chances in December: Sitting at 64.9%

  • JPMorgan’s Take: Trump’s Second Term Could Be a Game Changer

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Alpha of the Day

Solana Joins the Big Leagues, Breaks into Top 200 Global Assets

Solana is officially flexing its muscles, with a market cap that has now crossed the $100 billion mark. That’s right—SOL has graduated to the big kids' table, now ranked among the top 200 global assets. Not bad for a crypto that wasn’t even a glimmer in anyone’s eye a few years back. This milestone not only puts Solana alongside some of the biggest corporate and financial giants but also validates its status as a serious contender in the blockchain world. Forget the underdog story; Solana’s proving it’s here to play (and stay) with the best of them.

Crypto Market Cap Smashes Through $2.9 Trillion

It’s official: the entire crypto market is now worth more than some countries. Clocking in at over $2.9 trillion, the combined value of all cryptocurrencies is soaring to new heights. If the market was a person, it’d probably be rolling up in a limo and wearing diamond-studded NFTs. From Bitcoin to the latest meme coin, every digital asset seems to be basking in the glow of this monumental valuation. This milestone shows just how mainstream crypto has become—whether Wall Street likes it or not, these digital coins are here to stay.

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MicroStrategy’s Bitcoin Stash Hits $20 Billion in Value

MicroStrategy is basically the crypto equivalent of a dragon hoarding treasure, with its Bitcoin holdings now valued at over $20 billion. Michael Saylor, the company’s CEO, must be feeling like Scrooge McDuck swimming through his vault of Bitcoin. While some companies are nervous about a little BTC exposure, MicroStrategy has gone all-in on its favorite digital asset. This commitment has turned it into a significant player in the Bitcoin world, making Wall Street and the crypto community sit up and take notice. Saylor and co. are betting big, and so far, it's paying off.

Bitcoin Smashes Past $81,000 Once More

Bitcoin’s at it again, blowing past the $81,000 mark like it’s just another Tuesday. The king of crypto loves to keep everyone guessing, especially with its roller-coaster price swings. As Bitcoin enthusiasts cheer, skeptics are probably biting their nails, waiting for the next dip. This latest rally keeps Bitcoin’s “to the moon” dreams alive, making HODLers feel pretty smug. If BTC’s wild ride has proven anything, it’s that this digital asset isn’t ready to settle down anytime soon—strap in for more thrills!

BlackRock’s Bitcoin ETF Outpaces Its Gold ETF

In the great showdown between gold and Bitcoin, it looks like Bitcoin is taking the lead, at least at BlackRock. The investment giant’s Bitcoin ETF assets have officially surpassed those of its gold ETF. For anyone keeping score, this is a big deal—it’s like Bitcoin just stole gold’s spotlight. Traditionalists might still cling to their precious metal, but this shift signals a new era. Digital gold is making its mark, and if BlackRock’s numbers are any indication, Bitcoin’s appeal isn’t just a passing fad.

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Fed Rate Cut Chances in December: Sitting at 64.9%

The odds of a Fed rate cut are a little over 64%, which means there’s a good chance we’ll see a 25-basis-point reduction come December. Wall Street’s money wizards are betting on it, and every news drop from the Fed is adding to the speculation. With inflation showing some signs of calming down, a rate cut could be the holiday gift that keeps on giving for investors. But, as always, the Fed likes to keep us all on our toes, so don’t get too cozy just yet. Let’s just say, December might be a little merrier for the markets.

JPMorgan’s Take: Trump’s Second Term Could Be a Game Changer

JPMorgan is making waves with its prediction that the first two years of Trump’s potential second term could bring some major market shifts. The bank suggests that Trump’s policies might shake things up, and investors could be in for a wild ride. From potential tax reforms to changes in financial regulation, there’s a lot of speculation about what the Trump era, round two, might mean. Whether you're team bull or bear, one thing’s for sure—JPMorgan’s prediction has everyone bracing for impact, because the next few years could be anything but predictable.

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