The Fed’s hardline stance led to a $360 million cryptocurrency outflow!
A Solana-linked ETF shines, attracting investor attention!
Could the surge in cryptocurrency lobbying in Washington be solidifying the industry’s political foothold?
Standard Chartered Bank’s CEO boldly predicts, “Cash is over, all money will be digital!”
AI payment startup Kite issues a token, recording $263 million in trading volume in just two hours!
Let’s analyze the news on the global economy and cryptocurrencies and consider economic trends together!
On Monday, November 3rd, we will discuss today’s cryptocurrency news and on-chain market conditions.
This program brings you the latest news to help you with your asset building.
Now, let’s take a look at the 24-hour data headlines from the cryptocurrency market.
[The Fed’s tough stance leads to a $360 million cryptocurrency outflow]
“The Fed’s hawkish comments have had a chilling effect on the market.”
As the US Federal Reserve continued to hint at further interest rate hikes to curb inflation, approximately $360 million flowed out of the cryptocurrency market. This is a clear sign of investor risk aversion.
The underlying factors are concerns about inflationary pressures in the US economy and tightening monetary policy. In the past, when the Fed has raised interest rates, funds have tended to temporarily withdraw from stocks and cryptocurrencies. This time, too, market participants are becoming increasingly cautious.
On the other hand, some experts view this adjustment as a stepping stone to long-term growth, and some have pointed out the possibility of renewed buybacks once short-term selling pressure subsides.
[The Solana ETF Shines: A Positive Sign for Investor Sentiment]
Meanwhile, Solana-related ETFs are performing well. These ETFs have been attracting keen investor interest since their regulatory approval. Solana is known for its high-speed, low-cost blockchain technology and is highly regarded for its technological superiority.
The diversification benefits of ETFs have attracted many institutional and retail investors. This trend has had a positive psychological impact on the market as a whole, and Solana is expected to become a new growth engine.
Over the past few months, Solana-related ETFs have seen strong trading volume and price growth, making them a hot topic in the U.S. stock market.
[Cryptocurrency Lobbying Accelerates in Washington]
On the political front, the cryptocurrency industry is intensifying its lobbying efforts. In Washington, D.C., calls for improved regulatory environments and tax incentives are growing, and political donations and policy proposals from industry groups and companies are on the rise.
This movement signals that the cryptocurrency industry has moved beyond mere technological innovation and is now building a political base. The aim is to influence future legislation and rulemaking by strengthening dialogue with regulators.
Industry insiders say that “transparency and increased trust are the keys to widespread adoption,” and market participants are paying close attention to this change.
[Standard Chartered CEO: “Cash is Over”]
The CEO of global financial institution Standard Chartered Bank made a bold prediction. “All money will be digitized,” she said, expressing strong confidence in the future.
According to her, the adoption of cashless payments and digital currencies will accelerate, and “the day when cash itself will disappear altogether is not far off.” This view, coupled with the development of central bank digital currencies (CBDCs) and fintech innovation, suggests a transformation of the global financial ecosystem.
These developments will have a significant impact on consumer behavior and corporate strategies, and are attracting growing attention across the market.
[AI Payment Startup Kite Achieves $263 Million in Trading Volume with New Token Issuance]
Finally, we have the breakthrough of emerging AI payment company Kite. The company issued its own token, which recorded $263 million in trading volume just two hours after its launch. These figures demonstrate the high level of expectation and interest among market participants.
Kite is known for offering services that combine AI technology with blockchain payments, and is aiming to raise more funds and expand its ecosystem through this token issuance. Some analysts have praised the company for its potential to become a pioneer in the AI/blockchain fusion field.
This success story has also served as an inspiration to other startups, providing a tailwind for the creation of new financial services.
[Summary: Psychological and Economic Impact]
This news contains three important signals.
First, while short-term capital outflows due to the Fed’s interest rate hike reflect risk aversion, market participants also have strong expectations for long-term growth.
Second, increased interest in new financial products such as the Solana ETF and Kite token signals a growing desire for innovation and diversification.
Third, political and financial structures are undergoing structural change, as evidenced by increased lobbying in Washington and predictions about digital money from the CEOs of major banks. All of these factors will have a significant impact on future market dynamics.
That’s all for today’s news highlights. Our channel provides in-depth, expert coverage of valuable news in the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow.
