What Happened in Crypto Today: Crypto Finally (and Officially) Better Than Stocks?

11/07/2024 17:43
What Happened in Crypto Today: Crypto Finally (and Officially) Better Than Stocks?

Here is a 2-minute breakdown of everything important that happened in crypto today.

It's a beautiful day for us!

The headlines are everywhere, your phone's probably blowing up with notifications, and yes – Bitcoin just did what everyone's been talking about since yesterday's election results. Trump's victory seems to have sparked something big.

That number you're looking at isn't a glitch – Bitcoin actually touched $76,460. Even after settling around $75K, the market's showing no signs of slowing down.

This feels different from previous rallies. The Fear and Greed Index might be flashing 70, pushing into what some would like to call the "extreme greed" territory (although it’s just greed), but there's something more grounded about it this time. The panic buying and nervous energy? Not really there.

Instead, we're seeing a mix of calculated moves and genuine optimism. Most portfolios are solidly in the green, and for once, people aren't jumping at every price movement.

So which crypto sector is having the best time of its life? Let’s break it all down! Here is a quick rundown of the top headlines from the past 24 hours:

  • Crypto traders way more money from the US election than tradfi investors. But how did they manage to do it? 🎯

  • Japan's "Amazon" turned its shopping app into a crypto goldmine, with 2.2M new traders. Who is eligible to use that platform?  🚀

  • DeFi tokens are having a field day after Trump's victory. But why? 📈

  • CETUS token lands a rare Binance listing. What does Binance see that we don't? 💫

  • Arkham Intelligence launches a perpetual platform. But what’s so special about it? 🔍

Let’s dive in!

A French trader just pocketed $21.8 million from the US presidential election. He didn't use stocks, options, or any traditional trading tools.

Instead, he used a crypto prediction platform called Polymarket

And he wasn't alone.

Another trader named Fredi9999 made $15.6 million, while someone known as zxgngl walked away with $11 million.

The platform saw $3.2 billion in trading volume on election day alone. That's more than some major stock exchanges handle in a day.

But how did that happen? Read the full story!

A crypto exchange that's barely a year old just reported a ninefold surge in trading revenue.

The interesting part? It's run by Mercari, Japan's e-commerce powerhouse.

Their crypto division, Melcoin, jumped from making $200,000 to $1.8 million in quarterly revenue. That's what happens when you combine 180 million active e-commerce users with easy crypto access.

The secret to their success? They started small with just Bitcoin in 2023. Then added Ethereum. But the game-changer was integrating it with their shopping rewards program - something no other major crypto exchange has done successfully.

And now 2.2 million users have opened trading accounts. For perspective, that's like a small city deciding to trade crypto overnight.

Who is eligible to use that platform? Read the full story!

The crypto market just got very interesting.

DeFi tokens are shooting up like fireworks after Trump's victory, and it's not just random speculation.

Uniswap jumped 22%. Lido soared 36%. Even ImmutableX, which was being closely followed by the SEC, leaped 12%.

The total value locked in DeFi? $92 billion!

So what’s the reason behind DeFi having an amazing day? Read the full story!

A crypto token called CETUS just pulled off what every project dreams of - it got listed on Binance.

The price jumped from $0.16 to $0.34 within hours.

But Binance isn't just listing CETUS for regular trading, they're also opening it up for futures trading right from the start. That's pretty rare for a new listing.

So why did CETUS get blessed by Binance? Read the full story!

Arkham Intelligence, famous for exposing major crypto wallet movements, just stepped into the trading game. But this isn't just another exchange launch.

They're building a perpetual futures platform with a twist - it will have built-in blockchain analytics. Think of it as trading with X-ray vision into market movements.

So why jump into perps all of a sudden? Read the full story!

Read more --->