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The Federal Reserve announced a 25 basis point rate cut and halted quantitative tightening (QT), but the market experienced short-term panic due to Powell's hawkish comments regarding uncertainty over a rate cut in December. Bitcoin and Ethereum prices declined. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, are still in the process of iterative improvement.
Bitcoin is showing clear signs of weakness, and market confidence is being put to the test.
- 03:01KITE AI announces tokenomics: total supply of 10 billions tokens, with 48% allocated to ecosystem and communityOn October 31, according to disclosures from the KITE Foundation, the foundation has released the tokenomics plan for KITE AI. The total supply of KITE tokens is 10 billions. The allocation plan is as follows: Ecosystem and community account for 48%; Kite Module accounts for 20%; Team, advisors, and early contributors account for 20%; Investors account for 12%.
- 03:01The U.S. Senate Agriculture Committee is set to release the draft of the "Crypto Market Structure Bill" regarding commodity regulation.According to a report by Jinse Finance, crypto journalist Eleanor Terrett stated that the U.S. Senate Agriculture Committee is about to release the long-awaited bipartisan draft, which concerns the commodity regulation section of the cryptocurrency market structure bill. According to multiple sources, the committee may take action as early as tomorrow, though some sources indicate that final preparations could delay the release until next week. The imminent release of this draft, along with the Banking Committee's resumption of bipartisan staff negotiations, suggests that work related to market structure has restarted following last week's industry roundtable.
- 02:52Data: Retail investors poured $1.4 billion into the three oversubscribed ICO projects MetaETH, zkPass, and Momentum this week.Jinse Finance reported that the privacy protocol zkPass, decentralized exchange Momentum, and Ethereum Layer 2 network MegaETH all saw severe oversubscription in their token sales this week, with retail investors rushing to participate in these emerging crypto projects. The zkPass protocol launched the sale of its utility token ZKP on Monday, surpassing its fundraising target of $2 million within minutes. Although the sale still has three days left, it has already received subscription applications totaling over $67 million. MegaETH's initial coin offering (ICO) for its MEGA token also launched on Monday and was declared "sold out" within just a few minutes; by the end of the auction on Thursday, the oversubscription ratio for this token sale reached 27.8 times, with committed subscription amounts exceeding $1.3 billion. Meanwhile, the decentralized exchange Momentum, built on the Sui blockchain, launched its MMT token sale on Monday and sold out in less than an hour. After the token sale ended, the project had raised over $82 million from users, exceeding its initial target of $4.5 million by 1,739%. The total supply of the token is 1 billion, with both governance and functional attributes, allowing holders to gain permissions and enjoy incentive mechanisms within the ecosystem.